50 Sunset Dr

Contoocook, NH 03229

$175,000D-

2 bd · 2.0 ba · 1,232 sqft · Built 2020 · Manufactured · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,044/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$375
• HOA: −$1,280
• Vac / Maint / Mgmt: −$429
• Net cashflow: $-957/mo
• Annual: $-11,490/yr
• Cap rate: -0.27%
• Cash-on-cash: -23.45%
• DSCR: -0.04
• 1% rule: 1.17%
• Cash to close: $49,000

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $175k.
• At list price, monthly cash flow is $-957 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $48k (72.3% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 37 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (72.3% below list) — sets the bar for cash-flow.
• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Location reads 71/100 on livability (#40 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A, housing A; Watch: health & safety C-, amenities F, commute F.
• Merrimack Valley School District (town): math 27% / reading 38% proficiency, ranked #79 of 98 in NH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Webster Elementary School (math 15% / reading 34%, grade F, #228 of 263 statewide, top 87%, 84 students, 30% FRL); Merrimack Valley Middle School (math 24% / reading 40%, grade F, #64 of 96 statewide, top 68%, 472 students, 26% FRL); Merrimack Valley High School (math 22% / reading 42%, grade F, #76 of 90 statewide, top 85%, 784 students, 25% FRL) — zoned schools at 27% FRL track the district average.
• Watch-outs: HOA is 63% of rent.
• Market conditions: 39 active listings in the ZIP; 380 units permitted in Merrimack County in 2024 (28 in 5+ unit buildings).
• Merrimack County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 72% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.