516 Steele Hill Rd Unit Float week 17-23; 37-44 · Laconia, NH 03269

$1,250

1 bd · 1.0 ba · 800 sqft · Condo · 165 Days on market

Built 1985 $2/sqft · at area comps Est $1k · at est. $71/mo HOA · 7% of rent ↓ 58% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy the flexibility of a floating timeshare at the beautiful Steele Hill Resort! Your week is a floating week, giving you the choice of several weeks in spring, summer, or fall. This resort offers incredible amenities, including both indoor and outdoor swimming pools, an on-site restaurant, nearby golf, scenic biking trails, and easy access to snowmobile trails—plus so much more! Not planning to stay at Steele Hill? No problem! Your week can be traded for another resort property in other states, giving you even more vacation options.

Key facts

• $71 HOA
• Community pool
• Built 1985

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $1k.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($998 rent vs $1k).
• Recommended offer: $1k (12.0% below list) — sets the bar for market timing.
• Cap rate 687.0% vs local median 1.8% in Laconia — 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 79/100 on livability (#20 in NH, #2,314 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, commute F.
• Winnisquam Regional School District (town): math 32% / reading 46% proficiency, ranked #64 of 98 in NH (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 34 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 $8 of loan paydown is wiped out by about $38 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $350 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($1k) is reasonable based on typical stale-listing flexibility.

Recommended offer $1,100 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 79.87% ✓
• Cap rate: 687.05%
• Cash-on-cash: 2431.27%
• DSCR: 109.18
• GRM: 0.1

CMA / ARV

• ARV (median comp): $1,250
• List price: $1,250
• Delta: —
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 129.63×
• Total profit: $45,020
• Equity at exit: $186

10-year hold

• IRR: —
• Equity multiple: 279.85×
• Total profit: $97,598
• Equity at exit: $108

Cash invested: $350 (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 03269

• Home prices YoY: -4.3%
• Active inventory: 34
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $998 medium
• Mortgage (P&I): −$7
• Tax est. 1.5%: −$2 /mo · $19/yr
• Insurance: −$1
• HOA: −$71
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $709

Break-even live

Break-even rent $101

Max offer price $1,250

Occupancy floor 24%

Sensitivity live

Price	-10% $710	-5% $710	+0% $709	+5% $709	+10% $708
Rent	-10% $630	-5% $670	+0% $709	+5% $749	+10% $788
Rate	-1.0pp $710	-0.5pp $709	base $709	+0.5pp $709	+1.0pp $708

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: $312
• Closing costs: $38
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $71 · $852/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-19
   days on market $1,250 Active 165 DOM
2. 2026-06-18
   days on market $1,250 Active 164 DOM
3. 2026-06-17
   days on market $1,250 Active 163 DOM
4. 2026-06-16
   days on market $1,250 Active 162 DOM
5. 2026-06-15
   days on market $1,250 Active 161 DOM
6. 2026-06-14
   days on market $1,250 Active 159 DOM
7. 2026-06-12
   days on market $1,250 Active 158 DOM
8. 2026-06-09
   days on market $1,250 Active 155 DOM
9. 2026-06-08
   days on market $1,250 Active 154 DOM
10. 2026-06-07
    days on market $1,250 Active 153 DOM
11. 2026-06-04
    days on market $1,250 Active 149 DOM
12. 2026-06-02
    days on market $1,250 Active 148 DOM
13. 2026-06-01
    days on market $1,250 Active 147 DOM
14. 2026-05-31
    days on market $1,250 Active 146 DOM
15. 2026-05-31
    days on market $1,250 Active 145 DOM
16. 2026-03-26
    price $1,250 547-char remark

    Show marketing remark (547 chars)

    Enjoy the flexibility of a floating timeshare at the beautiful Steele Hill Resort! Your week is a floating week, giving you the choice of several weeks in spring, summer, or fall. This resort offers incredible amenities, including both indoor and outdoor swimming pools, an on-site restaurant, nearby golf, scenic biking trails, and easy access to snowmobile trails—plus so much more! Not planning to stay at Steele Hill? No problem! Your week can be traded for another resort property in other states, giving you even more vacation options.

17. 2026-01-05
    listed $3,000 Active 547-char remark

    Show marketing remark (547 chars)

    Enjoy the flexibility of a floating timeshare at the beautiful Steele Hill Resort! Your week is a floating week, giving you the choice of several weeks in spring, summer, or fall. This resort offers incredible amenities, including both indoor and outdoor swimming pools, an on-site restaurant, nearby golf, scenic biking trails, and easy access to snowmobile trails—plus so much more! Not planning to stay at Steele Hill? No problem! Your week can be traded for another resort property in other states, giving you even more vacation options.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $11,981
• − Mortgage interest: −$70
• − Property taxes: −$19
• − Insurance: −$6
• − Repairs & maintenance: −$958
• − Management: −$958
• − HOA: −$852
• − Depreciation: −$36
• Taxable income: $9,081
• Est. tax owed @ 24.0%: −$2,179
• After-tax cash flow: $6,330/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: Winnisquam Regional School District
• NCES district ID: 3307300
• Math proficiency: 32% ▼ -9.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $58,761
• Composite: 34.45/100
• National rank: #5194
• State rank: #64 of 98 in NH

Livability — Laconia

• Score: 79/100
• State rank: #20
• US rank: #2314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 17,103
• Population (ZIP): 2,946

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Black 1% Asian 1%
• Common ancestry: Lithuanian 19% Italian 5% Slovak 3%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Other Indo-European 1% Spanish 1% German/W. Germanic 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: ▼ -16.85%
• Current HPI: 375.4394
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-58.3% since first listed

2 events — show timeline

• 2026-03-26 Price Changed $1,250 PrimeMLS
• 2026-01-05 Listed $3,000 PrimeMLS