862 Mayhew Tpke Lot 21 · Bristol, NH 03222

$134,900

2 bd · 1.5 ba · 1,068 sqft · Manufactured public records · 10 Days on market

Built 1987 7.55 ac lot Est $127k · 6% over $540/mo HOA · 16% of rent

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.7/15.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Mobile Home located near Newfound Lake. The home is situated on an end lot and consists of a living room, kitchen, Family room, bedroom and a master bedroom with 1/2 bath. The home is in need of some cosmetic TLC. Owners are in the process of packing and moving. The property has multiple sheds including a large, covered carport. The home is in short distance to Newfound Lake which offers Wellington State Park, boat launches and many restaurants. The home is located in Newfound Acres Co-op Park where park approval is needed.

Key facts

• Multiple sheds
• Many restaurants
• Covered carport

Tags

• END LOT
• MULTIPLE SHEDS
• COVERED CARPORT
• WELLINGTON STATE PARK
• BOAT LAUNCHES
• MANY RESTAURANTS

Property features AI

Finance

• Other: Located in a mobile park (Lot #21); Not waterfront but has lake access; waterbody: Newfound Lake; Property is in a flood zone
• HOA & community: Monthly park/home association fee of $540; Fee covers plowing, trash, water, and park rent; Located in Newfound Acres Co-op (mobile co-op; park approval required)

Exterior

• Parking: Paved driveway
• Utilities: Community water; Private sewer; 100 Amp electric service; High-speed internet available; Cable available
• Home design: Manufactured/mobile home; Blue exterior; Entry on main level
• Construction: Built in 1987; Vinyl siding; Metal roof
• Exterior features: Beach access; Walking trails; Water access to Newfound Lake (community access)

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Two bedrooms (both on main level)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Oil heating with forced air; Cooling: Other
• Interior features: Five total rooms; Bedroom with bath

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Cap rate 18.2% vs local median 3.3% in Bristol — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#70 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: health & safety C-, amenities F, commute F.
• Newfound Area School District (rural): math 35% / reading 48% proficiency, ranked #61 of 98 in NH (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bristol Elementary School (math 32% / reading 52%, grade F, #141 of 263 statewide, top 58%, 188 students, 38% FRL).
• Market conditions: 59 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $134,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.52% ✓
• Cap rate: 18.22%
• Cash-on-cash: 42.60%
• DSCR: 2.90
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $127,092
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
862 Mayhew Tpke #16	0.00mi	2/2.0	972 (-9%)	3mo	$40,000	$41	80
862 Mayhew Tpke Lot 2	0.00mi	2/2.0	1,004 (-6%)	9mo	$119,900	$119	80

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.5%
• Equity multiple: 2.69×
• Total profit: $63,851
• Equity at exit: $20,114

10-year hold

• IRR: 45.9%
• Equity multiple: 5.42×
• Total profit: $166,812
• Equity at exit: $11,664

Cash invested: $37,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 56 Moderately Landlord-Leaning
• State New Hampshire: 56 Moderately Landlord-Leaning · D+1
• County: — inherits STATE
• City: — inherits STATE

Has just-cause statute; 30-day notice; landlord-leaning vs. neighbors.

Methodology + full state rankings →

ZIP-level market 03222

• Home prices YoY: -2.6%
• Active inventory: 59
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $3,400 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$41 /mo · $497/yr
• Insurance: −$56
• HOA: −$540
• Vacancy / Maint / Mgmt: −$714
• Net cashflow: $1,341

Break-even live

Break-even rent $1,703

Max offer price $134,900

Occupancy floor 56%

Sensitivity live

Price	-10% $1,417	-5% $1,379	+0% $1,341	+5% $1,303	+10% $1,265
Rent	-10% $1,072	-5% $1,207	+0% $1,341	+5% $1,475	+10% $1,610
Rate	-1.0pp $1,409	-0.5pp $1,375	base $1,341	+0.5pp $1,306	+1.0pp $1,270

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
246 Whittemore Point Rd N Bristol, NH	2.0	1.0	1302	$3,400	$2.61	44d	1	0.62mi

HOA detail

• Monthly dues: $540 · $6,480/yr

Listing history 8 events

1. 2026-06-21
   days on market $134,900 Active 10 DOM
2. 2026-06-18
   days on market $134,900 Active 8 DOM
3. 2026-06-17
   days on market $134,900 Active 7 DOM
4. 2026-06-16
   days on market $134,900 Active 6 DOM
5. 2026-06-15
   days on market $134,900 Active 5 DOM
6. 2026-06-13
   days on market $134,900 Active 3 DOM
7. 2026-06-12
   remarks 529-char remark
8. 2026-06-12
   listed $134,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NH · Partial reset (capped growth)

• Current annual tax: $497 · $41/mo
• Projected year-2 tax: $1,719 · $143/mo
• Expected delta: +$1,222/yr (+$102/mo · 245.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $40,800
• − Mortgage interest: −$7,556
• − Property taxes: −$497
• − Insurance: −$674
• − Repairs & maintenance: −$3,264
• − Management: −$3,264
• − HOA: −$6,480
• − Depreciation: −$3,924
• Taxable income: $15,140
• Est. tax owed @ 24.0%: −$3,634
• After-tax cash flow: $12,458/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Newfound Area School District
• NCES district ID: 3305220
• Math proficiency: 35% ▼ -9.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $53,994
• Composite: 36.07/100
• National rank: #4766
• State rank: #61 of 98 in NH

Livability — Bristol

• Score: 66/100
• State rank: #70
• US rank: #12048

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment C Housing A- Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,135

Population outlook (Grafton County) Hauer SSP2

• Today (2025): 88,798 people
• By 2030: 87,131 · -1.9%
• By 2040: 82,000 · -7.7%
• By 2050: 77,064 · -13.2%
• By 2075: 68,769 · -22.6%
• By 2100: 61,631 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Asian 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 12% Slovak 4% Serbian 4%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Other Asian/Pacific 2% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Grafton

• 2024 margin: D (+19.9) · D 59.4% · R 39.4% · Other 1.2%
• 2008→2024 swing: -7.8pp toward R · 2008: 27.7pp · 2024: 19.9pp
• All cycles: 2024: D+19.9 2020: D+24.6 2016: D+19.0 2012: D+23.8 2008: D+27.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.83%
• Current HPI: 410.261
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-10 Listed $134,900 PrimeMLS

Property tax history

+5.4%/yr

Latest (2025): $497 · +17.5% YoY. Source: county tax records.