4 Skinner St

Claremont, NH 03743

$200,000C-

3 bd · 1.0 ba · 968 sqft · Built 1905 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,959/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$530
• HOA: −$0
• Vac / Maint / Mgmt: −$411
• Net cashflow: $-31/mo
• Annual: $-377/yr
• Cap rate: 6.10%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• 1% rule: 0.98%
• Cash to close: $56,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $-31 ($-377/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (2.0% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $194k (2.8% below list) — sets the bar for cash-flow.
• In year one you build about $2k of equity ($1k loan paydown + $403 appreciation (0.2% local appreciation)).
• Location reads 69/100 on livability (#50 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, amenities F, commute F.
• Claremont School District (town): math 24% / reading 35% proficiency, ranked #85 of 98 in NH (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Disnard Elementary School (math 17% / reading 27%, grade F, #242 of 263 statewide, top 92%, 237 students, 48% FRL); Claremont Middle School (math 23% / reading 38%, grade F, #68 of 96 statewide, top 72%, 354 students, 40% FRL); Stevens High School (math 32% / reading 42%, grade F, #69 of 90 statewide, top 78%, 525 students, 28% FRL).
• Watch-outs: property tax is 2.7% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 59 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 98 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).
• Sullivan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Cap rate 6.1% vs local median 3.3% in Claremont — 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.
• This rent runs 39% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.