220 Lime Kiln Rd

North Haverhill, NH 03780

$225,000D+

3 bd · 1.0 ba · 1,997 sqft · Built 1900 · SingleFamily · Active · 221 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,798/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$583
• HOA: −$0
• Vac / Maint / Mgmt: −$377
• Net cashflow: $-343/mo
• Annual: $-4,114/yr
• Cap rate: 4.46%
• Cash-on-cash: -6.53%
• DSCR: 0.71
• 1% rule: 0.80%
• Cash to close: $63,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $225k.
• At list price, monthly cash flow is $-343 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (26.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (20.1% below list).
• It's been on market 221 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (26.9% below list) — sets the bar for cash-flow.
• In year one you build about $22k of equity ($2k loan paydown + $21k appreciation (9.2% local appreciation)).
• Location reads 65/100 on livability (#74 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: health & safety D, amenities F, commute F.
• Haverhill Cooperative School District (rural): math 26% / reading 45% proficiency, ranked #78 of 98 in NH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodsville Elementary School (math 34% / reading 24%, grade F, #201 of 263 statewide, top 82%, 211 students, 36% FRL); Haverhill Cooperative Middle School (math 27% / reading 47%, grade F, #50 of 96 statewide, top 54%, 226 students, 38% FRL); Woodsville High School (math 15% / reading 54%, grade F, #71 of 90 statewide, top 80%, 216 students, 29% FRL) — zoned schools at 34% FRL track the district average.
• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

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 221 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?