39 Great Brook Dr · Belmont, NH 03220

$95,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 75 Days on market

Built 2002 $63/sqft · 13% above area Est $84k · 13% over $995/mo HOA · 50% of rent ↓ 42% since listing

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Why this score? — see what drove the F 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).

• 1% rule +10.0/10.0
• Cash flow +4.8/30.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.8/15.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy, low-maintenance living in one of the Lakes Region’s most desirable 55+ manufactured home communities! This beautifully maintained home offers the perfect mix of comfort, affordability, and convenience in Belmont, NH. Step inside to a bright, open layout filled with natural light and comfortable living spaces designed for everyday living. The spacious kitchen features plenty of cabinets and workspace, making meal prep simple and enjoyable. The adjoining dining and living areas create a great flow for relaxing or hosting guests. The primary bedroom provides a peaceful retreat, while additional rooms offer flexible space for hobbies, guests, or a home office. One-level living makes daily routines easy, and thoughtful features throughout the home create a warm and welcoming atmosphere. Outside, enjoy a private yard, paved driveway, and handy storage shed for tools, seasonal gear, and outdoor equipment. Whether you’re enjoying your morning coffee or unwinding after a long day, the outdoor space is perfect for relaxing. The community itself offers beautifully maintained grounds and great amenities including a clubhouse, recreational areas, and landscaped common spaces. Residents enjoy snow removal, trash service, and grounds maintenance, helping keep life simple and stress-free. Located in the heart of New Hampshire’s Lakes Region, you’re just minutes from shopping, dining, and major routes while still enjoying the peaceful feel of a small New England town. With low property taxes and a comfortable one-level design, this home offers a smart solution for downsizing, affordability, or navigating life changes like a new job or simplifying your lifestyle. Easy living, great location, and a welcoming community—this home checks all the boxes!

Key facts

• Clubhouse
• Spacious kitchen
• Paved driveway

Tags

• OPEN LAYOUT
• SPACIOUS KITCHEN
• PRIVATE YARD
• PAVED DRIVEWAY
• STORAGE SHED
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $-231 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $66k (30.7% below list).
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $66k (30.7% below list) — sets the bar for cash-flow.
• Cap rate 3.4% vs local median 1.7% in Belmont — 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 61/100 on livability (#89 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: health & safety C-, housing D, amenities F.
• Shaker Regional School District (rural): math 27% / reading 45% proficiency, ranked #70 of 98 in NH (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Belmont Elementary School (math 27% / reading 32%, grade F, #201 of 263 statewide, top 82%, 334 students, 40% FRL); Belmont Middle School (math 21% / reading 46%, grade F, #59 of 96 statewide, top 61%, 345 students, 31% FRL); Belmont High School (math 32% / reading 52%, grade F, #56 of 90 statewide, top 64%, 366 students, 27% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 62 active listings in the ZIP; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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.
• Current owner paid $74k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; HOA is 50% of rent.

Recommended offer $65,880 (30.7% 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. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.10% ✓
• Cap rate: 3.38%
• Cash-on-cash: -10.41%
• DSCR: 0.54
• GRM: 4.0

CMA / ARV

• ARV (median comp): $84,358
• List price: $95,000
• Delta: 12.62%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Magnolia Ln #16	0.04mi	3/2.0	1,566 (+4%)	3mo	$75,000	$48	90
21 Magnolia Ln	0.04mi	3/2.0	1,508 (-0%)	15mo	$100,000	$66	85
33 Great Brook Dr	0.02mi	3/2.0	1,404 (-7%)	10mo	$119,000	$85	79
58 Magnolia Ln	0.08mi	3/2.0	1,296 (-14%)	13mo	$72,000	$56	61
25 Kayla Dr	0.64mi	2/2.5 (-1)	1,512 (0%)	4mo	$70,000	$46	60
8 Deanna Dr	0.64mi	3/3.0	1,568 (+4%)	16mo	$201,000	$128	47
15 Kayla Dr	0.63mi	3/2.0	1,378 (-9%)	14mo	$172,000	$125	44

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: -33.7%
• Equity multiple: -0.10×
• Total profit: $-29,355
• Equity at exit: $14,165

10-year hold

• IRR: -35.1%
• Equity multiple: -0.56×
• Total profit: $-41,493
• Equity at exit: $8,214

Cash invested: $26,600 (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 03220

• Home prices YoY: -6.7%
• Active inventory: 62
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,996 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$274 /mo · $3,294/yr
• Insurance: −$40
• HOA: −$995
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-231

Break-even live

Break-even rent $2,288

Max offer price $65,880

Occupancy floor —

Sensitivity live

Price	-10% $-177	-5% $-204	+0% $-231	+5% $-258	+10% $-285
Rent	-10% $-388	-5% $-310	+0% $-231	+5% $-152	+10% $-73
Rate	-1.0pp $-183	-0.5pp $-207	base $-231	+0.5pp $-255	+1.0pp $-280

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $995 · $11,940/yr
• Likely covers: trashlandscapingsnow removal

Listing history 6 events

1. 2026-03-10
   listed $95,000 Active 1807-char remark

   Show marketing remark (1807 chars)

   Welcome to easy, low-maintenance living in one of the Lakes Region’s most desirable 55+ manufactured home communities! This beautifully maintained home offers the perfect mix of comfort, affordability, and convenience in Belmont, NH. Step inside to a bright, open layout filled with natural light and comfortable living spaces designed for everyday living. The spacious kitchen features plenty of cabinets and workspace, making meal prep simple and enjoyable. The adjoining dining and living areas create a great flow for relaxing or hosting guests. The primary bedroom provides a peaceful retreat, while additional rooms offer flexible space for hobbies, guests, or a home office. One-level living makes daily routines easy, and thoughtful features throughout the home create a warm and welcoming atmosphere. Outside, enjoy a private yard, paved driveway, and handy storage shed for tools, seasonal gear, and outdoor equipment. Whether you’re enjoying your morning coffee or unwinding after a long day, the outdoor space is perfect for relaxing. The community itself offers beautifully maintained grounds and great amenities including a clubhouse, recreational areas, and landscaped common spaces. Residents enjoy snow removal, trash service, and grounds maintenance, helping keep life simple and stress-free. Located in the heart of New Hampshire’s Lakes Region, you’re just minutes from shopping, dining, and major routes while still enjoying the peaceful feel of a small New England town. With low property taxes and a comfortable one-level design, this home offers a smart solution for downsizing, affordability, or navigating life changes like a new job or simplifying your lifestyle. Easy living, great location, and a welcoming community—this home checks all the boxes!

2. 2014-12-19
   soldstatus $74,000 386-char remark

   Show marketing remark (386 chars)

   Convenient to Interstate 93 and Route 106. This home is located in Great Brook Village. Homes are sited on landscaped lots. This home features a single car attached garage with auto opener as well. Three bedrooms with a large master that has its own bath. Master bath features step up whirlpool tub. There are plenty of cabinets in the bright open concept kitchen. Laundry hook ups too.

3. 2014-03-24
   listed $74,000 386-char remark

   Show marketing remark (386 chars)

   Convenient to Interstate 93 and Route 106. This home is located in Great Brook Village. Homes are sited on landscaped lots. This home features a single car attached garage with auto opener as well. Three bedrooms with a large master that has its own bath. Master bath features step up whirlpool tub. There are plenty of cabinets in the bright open concept kitchen. Laundry hook ups too.

4. 2010-06-11
   soldstatus $58,580
5. 2009-07-01
   listed $58,580
6. 2003-01-09
   soldstatus $164,900

ⓘ 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: $3,294 · $274/mo
• Projected year-2 tax: $3,294 · $274/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,947
• − Mortgage interest: −$5,321
• − Property taxes: −$3,294
• − Insurance: −$475
• − Repairs & maintenance: −$1,916
• − Management: −$1,916
• − HOA: −$11,940
• − Depreciation: −$2,764
• Taxable loss: −$3,679
• Est. tax savings @ 24.0%: +$883
• After-tax cash flow: $-1,886/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: Shaker Regional School District
• NCES district ID: 3306180
• Math proficiency: 27% ▼ -14.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $65,177
• Composite: 32.56/100
• National rank: #5684
• State rank: #70 of 98 in NH

Livability — Belmont

• Score: 61/100
• State rank: #89
• US rank: #17890

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belmont, NH
• Population (ZIP): 7,376

Population outlook (Belknap County) Hauer SSP2

• Today (2025): 60,702 people
• By 2030: 60,353 · -0.6%
• By 2040: 58,264 · -4.0%
• By 2050: 54,533 · -10.2%
• By 2075: 45,622 · -24.8%
• By 2100: 33,772 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 2% Asian 1%
• Common ancestry: Lithuanian 19% Slovak 5% Russian 3%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Belknap

• 2024 margin: R (+13.1) · D 43.1% · R 56.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 1.2pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.4 2016: R+16.8 2012: R+5.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.74%
• Current HPI: 416.6523
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-42.4% since first listed

6 events — show timeline

• 2026-03-10 Listed $95,000 PrimeMLS
• 2014-12-19 Sold (MLS) $74,000 PrimeMLS
• 2014-03-24 Listed $74,000 PrimeMLS
• 2010-06-11 Sold (MLS) $58,580 PrimeMLS
• 2009-07-01 Listed $58,580 PrimeMLS
• 2003-01-09 Sold (Public Records) $164,900 Public Records

Property tax history

+4.8%/yr

Latest (2025): $3,294 · +10.5% YoY. Source: county tax records.