15 Trail St · Franklin, NH 03235-2026

$129,900

3 bd · 2.0 ba · 1,042 sqft · Manufactured public records · 4 Days on market

Manufactured home Built 2001 $125/sqft · at area comps Est $133k · at est.

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Why this score? — see what drove the C+ 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 +25.0/30.0
• ARV discount +8.5/15.0
• DSCR +8.2/10.0
• 1% rule +5.7/10.0
• Appreciation +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks

Affordable opportunity — this 2-bedroom, 2-bath mobile home sits at the top of the park with back and side yard bordered by woods. Needs some TLC and updates, making it ideal for the buyer looking to personalize the home. Features include a side deck for outdoor relaxing, a storage shed, and two off-street parking spaces. Enjoy year-round recreation with quick access to the Veterans Ski Area in winter and Webster Lake in summer.

Key facts

• Back yard
• Side deck
• Storage shed

Tags

• SIDE DECK
• STORAGE SHED
• OFF-STREET PARKING
• BACK YARD
• SIDE YARD
• QUICK ACCESS TO WEBSTER LAKE

Property features AI

Finance

• HOA & community: Park rent required; HOA/park fees include water and sewer

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer; Circuit breaker electrical service; High-speed internet available; Telephone service available
• Home design: Manufactured / Mobile home; Single-story (main living all on one level); Vinyl siding; Shingle - Asphalt roof; Built in 2001
• Construction: Vinyl siding construction; Asphalt shingle roof; Manufactured/mobile construction
• Exterior features: Sloping, wooded lot; Paved driveway; Located in a mobile home park (Hillside Terrace Mobile Home Park)

Interior

• Kitchen: Main-level kitchen
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Kerosene heat
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 8.9% vs local median 2.5% in Franklin — 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 68/100 on livability (#56 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Franklin School District (town): math 14% / reading 29% proficiency, ranked #97 of 98 in NH (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Paul A. Smith School (math 22% / reading 24%, grade F, #241 of 263 statewide, top 92%, 287 students, 60% FRL); Franklin Middle School (math 11% / reading 30%, grade F, #88 of 96 statewide, top 93%, 378 students, 61% FRL); Franklin High School (math 30% / reading 50%, grade F, #59 of 90 statewide, top 69%, 270 students, 44% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 380 units permitted in Merrimack County in 2024 (28 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($898 loan paydown + $4k appreciation (3.0% local appreciation)).
• Merrimack County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $129,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.07% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.37%
• DSCR: 1.42
• GRM: 7.8

CMA / ARV

• ARV (median comp): $133,000
• List price: $129,900
• Delta: -9.85%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Trail St	0.06mi	3/1.0	924 (-11%)	3mo	$133,000	$144	72
3 Trail St	0.07mi	2/1.0 (-1)	936 (-10%)	2mo	$50,000	$53	69

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: 16.3%
• Equity multiple: 1.93×
• Total profit: $33,713
• Equity at exit: $58,409

10-year hold

• IRR: 17.8%
• Equity multiple: 3.60×
• Total profit: $94,637
• Equity at exit: $90,015

Cash invested: $36,372 (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 03235-2026

• Active inventory: 1
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,392 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$80 /mo · $959/yr
• Insurance: −$54
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $284

Break-even live

Break-even rent $1,032

Max offer price $129,900

Occupancy floor 75%

Sensitivity live

Price	-10% $358	-5% $321	+0% $284	+5% $247	+10% $211
Rent	-10% $174	-5% $229	+0% $284	+5% $339	+10% $394
Rate	-1.0pp $350	-0.5pp $317	base $284	+0.5pp $250	+1.0pp $216

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 Franklin St Unit 6 Flanders Franklin, NH	3.0	1.0	1012	$1,875	$1.85	7d	1	1.25mi
97 Franklin St Unit C Franklin, NH	2.0	1.0	949	$1,500	$1.58	26d	1	1.25mi
135 Franklin St Apt A Franklin, NH	3.0	1.0	1421	$2,100	$1.48	46d	1	1.25mi
20 Canal St Franklin, NH	2.0	1.0	758	$2,995	$3.95	7d	5	1.26mi

Listing history 4 events

1. 2026-06-22
   days on market $129,900 Active 4 DOM
2. 2026-06-21
   days on market $129,900 Active 3 DOM
3. 2026-06-18
   pricestatusdays on marketlisting id $129,900 Active 1 DOM
4. 2026-02-12
   price $119,900

ⓘ 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: $959 · $80/mo
• Projected year-2 tax: $1,895 · $158/mo
• Expected delta: +$936/yr (+$78/mo · 97.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,699
• − Mortgage interest: −$7,276
• − Property taxes: −$959
• − Insurance: −$650
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$3,779
• Taxable income: $1,363
• Est. tax owed @ 24.0%: −$327
• After-tax cash flow: $3,082/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: Franklin School District
• NCES district ID: 3303090
• Math proficiency: 14% ▼ -5.00%
• Reading proficiency: 29% ▼ -3.00%
• Median HH income: $45,220
• Composite: 18.64/100
• National rank: #8892
• State rank: #97 of 98 in NH

Livability — Franklin

• Score: 68/100
• State rank: #56
• US rank: #9637

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, NH

Population outlook (Merrimack County) Hauer SSP2

• Today (2025): 151,287 people
• By 2030: 151,867 · +0.4%
• By 2040: 149,927 · -0.9%
• By 2050: 144,081 · -4.8%
• By 2075: 132,018 · -12.7%
• By 2100: 111,733 · -26.1%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+8.3% since first listed

2 events — show timeline

• 2026-06-18 Listed $129,900 PrimeMLS
• 2026-02-12 Price Changed $119,900 PrimeMLS

Property tax history

+0.9%/yr

Latest (2025): $959 · +2.8% YoY. Source: county tax records.