26 Scott Dr

Alton, NH 03810

$499,900D-

2 bd · 1.0 ba · 2,056 sqft · Built 1960 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,656/mo
• Mortgage (P&I): −$2,622
• Tax + insurance: −$467
• HOA: −$23
• Vac / Maint / Mgmt: −$558
• Net cashflow: $-1,013/mo
• Annual: $-12,157/yr
• Cap rate: 3.86%
• Cash-on-cash: -8.69%
• DSCR: 0.61
• 1% rule: 0.53%
• Cash to close: $139,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $500k.
• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (35.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (46.9% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $266k (46.9% below list) — sets the bar for 1% rule.
• In year one you build about $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• Location reads 57/100 on livability (#93 in NH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Alton School District (rural): math 34% / reading 42% proficiency, ranked #139 of 171 in NH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 3.9% vs local median 1.6% in Alton — 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.

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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.