862 Mayhew Tpke Lot 21

Bridgewater, NH 03222

$134,900B-

2 bd · 1.5 ba · 1,068 sqft · Built 1987 · Manufactured · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,400/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$98
• HOA: −$540
• Vac / Maint / Mgmt: −$714
• Net cashflow: $1,341/mo
• Annual: $16,091/yr
• Cap rate: 18.22%
• Cash-on-cash: 42.60%
• DSCR: 2.90
• 1% rule: 2.52%
• Cash to close: $37,772

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $135k.
• 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).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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).
• 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.