9 Bristol Hill Rd · Windham, NH 03087

$524,900

2 bd · 2.5 ba · 1,614 sqft · Condo public records · 5 Days on market

Built 1987 $325/sqft · 29% above area Est $622k · 16% under $500/mo HOA · 12% of rent

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Why this score? — see what drove the D- 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).

• ARV discount +14.5/15.0
• Cash flow +6.7/30.0
• Schools +6.5/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Amazing opportunity to live in the sought-after Villages of Windham community!  This beautifully maintained 2 Bedroom, 3 Bathroom condo offers the perfect blend of comfort, style and convenience.  As you enter, you're greeted with a spacious eat in kitchen with ample cabinet space.  Main living level features a bright & open concept family room with vaulted ceilings and a formal dining area.  Upstairs, you'll find a large primary bedroom suite, a generously sized second bedroom, and a large adjoining full bathroom.  The finished basement offers additional living area can be used as an entertainment room, home office, or just more space to spread out.   Si

Key facts

• Landscaped community
• Attached garage
• Eat in kitchen

Tags

• EAT IN KITCHEN
• OPEN CONCEPT FAMILY ROOM
• FINISHED BASEMENT
• ATTACHED GARAGE
• CENTRAL A/C
• LANDSCAPED COMMUNITY

Property features AI

Finance

• Other: Survey status: Unknown
• Financial info: No other financial details provided
• HOA & community: Condo association (Villages of Windham); Condo fee approximately $500 per month covering landscaping, plowing, sewer, trash and water

Exterior

• Parking: One-car garage
• Security: No security details provided
• Utilities: Community water; Community sewer; Electric service with circuit breakers; High-speed internet available at site; Cable available
• Home design: Townhouse; Existing construction; Built in 1987
• Construction: Wood frame with vinyl siding; Asphalt shingle roof; Year built 1987
• Exterior features: Landscaped grounds; Paved driveway; Privately maintained road frontage

Interior

• Kitchen: Kitchen; Kitchen/Dining area
• Bedrooms: Two bedrooms on the second floor; Additional bedroom(s) not specified on main level (listed rooms include bedroom entries)
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heat; Central air conditioning
• Interior features: Finished walkout basement; Five total rooms
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $525k.

Deal economics

• At list price, monthly cash flow is $-841 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $376k (28.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $410k (21.9% below list).
• Recommended offer: $376k (28.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Windham School District (rural): math 64% / reading 74% proficiency, ranked #8 of 98 in NH (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 3% free/reduced lunch — higher-income household profile.
• Zoned schools: Golden Brook Elementary School (math 64% / reading 65%, grade B, #26 of 263 statewide, top 11%, 1,098 students, 3% FRL) — zoned schools at 3% FRL track the district average.
• Market conditions: 64 active listings in the ZIP; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $275k; list at $525k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $376,299 (28.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 4.37%
• Cash-on-cash: -6.87%
• DSCR: 0.69
• GRM: 10.7

CMA / ARV

• ARV (median comp): $622,013
• List price: $524,900
• Delta: -15.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -28.1%
• Equity multiple: 0.06×
• Total profit: $-138,292
• Equity at exit: $78,264

10-year hold

• IRR: -26.7%
• Equity multiple: -0.28×
• Total profit: $-188,025
• Equity at exit: $45,384

Cash invested: $146,972 (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 03087

• Active inventory: 64
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $4,102 medium
• Mortgage (P&I): −$2,753
• Tax from tax record: −$610 /mo · $7,322/yr
• Insurance: −$219
• HOA: −$500
• Vacancy / Maint / Mgmt: −$861
• Net cashflow: $-841

Break-even live

Break-even rent $5,166

Max offer price $376,299

Occupancy floor —

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: $131,225
• Closing costs: $15,747
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-15
   listed $524,900 Active 916-char remark
2. 2016-06-17
   soldstatus $275,000

ⓘ 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: $7,322 · $610/mo
• Projected year-2 tax: $9,382 · $782/mo
• Expected delta: +$2,060/yr (+$172/mo · 28.1%)

ⓘ 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 4/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,220
• − Mortgage interest: −$29,403
• − Property taxes: −$7,322
• − Insurance: −$2,624
• − Repairs & maintenance: −$3,938
• − Management: −$3,938
• − HOA: −$6,000
• − Depreciation: −$15,270
• Taxable loss: −$19,274
• Est. tax savings @ 24.0%: +$4,626
• After-tax cash flow: $-5,469/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: Windham School District
• NCES district ID: 3307170
• Math proficiency: 64% ▼ -10.00%
• Reading proficiency: 74% ▼ -1.00%
• Median HH income: $113,787
• Composite: 64.6/100
• National rank: #530
• State rank: #8 of 98 in NH

Livability — Windham

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 15,922

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 316,118 people
• By 2030: 320,929 · +1.5%
• By 2040: 323,358 · +2.3%
• By 2050: 314,977 · -0.4%
• By 2075: 297,686 · -5.8%
• By 2100: 256,363 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 7% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 6% Romanian 3% Russian 3%
• Foreign-born: 9% · China, South Korea, Canada
• Languages at home: 90% English-only · Other Indo-European 4% Chinese 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Rockingham

• 2024 margin: Toss-up / Even · D 48.3% · R 50.8%
• 2008→2024 swing: -3.5pp toward R · 2008: 1.1pp · 2024: -2.4pp
• All cycles: 2024: R+2.4 2020: D+2.1 2016: R+5.8 2012: R+4.5 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -173.02%
• Current HPI: 315.2202
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+90.9% since first listed

3 events — show timeline

• 2026-05-21 Pending — PrimeMLS
• 2026-05-15 Listed $524,900 PrimeMLS
• 2016-06-17 Sold (Public Records) $275,000 Public Records

Property tax history

+3.4%/yr

Latest (2024): $7,322 · +5.8% YoY. Source: county tax records.