19 Esther Ln #19 · Pittsfield, NH 03261

$250,000

2 bd · 2.0 ba · 1,124 sqft · Manufactured · 1 Days on market

Built 1989 Good condition Est $335k · 25% under · waterfront $550/mo HOA · 20% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +10.1/30.0
• 1% rule +5.8/10.0
• Schools +5.1/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* UNDER CONTRACT - OPEN HOUSES CANCELLED. .. Wake up to stunning waterfront views in this beautifully updated 2-bedroom, 2 full bath manufactured home on desirable Northwood Lake! Located in a cooperative park with an affordable lot rent of just $550/month, this move-in ready home offers 1,124 sq ft of comfortable living with an open-concept layout perfect for relaxing or entertaining. Recent upgrades include updated cabinetry, granite countertops, new dishwasher, new water softener, new hot water heater, new propane fireplace, with a 14kW standby generator installed in 2024 for year-round peace of mind. The spacious living area flows seamlessly to the lakefront outdoor space where you&rsqu

Key facts

• Built 1989

Property features AI

Finance

• Other: Association name: Loon Estates Cooperative
• HOA & community: Monthly association/park fee; One-time park transfer fee; Association amenities include master insurance, beach access, boat slip/dock, common acreage, snow removal, and trash removal; Mobile co-op with park approval

Exterior

• Parking: Paved driveway (common/shared)
• Utilities: Community water; Community sewer; 100 Amp electric service with circuit breakers and generator; Cable and telephone available; Internet availability unknown
• Home design: Manufactured home (Manuf/Mobile); Single-story; Located in Loon Estates Cooperative, Unit/Lot #19; Metal roof
• Construction: Built in 1989; Steel and wood frame construction with vinyl siding
• Exterior features: Lake access with dock; Lake frontage and water view (Northwood Lake); Waterfront rights exclusively owned; Leased lot in cooperative; Common/shared paved driveway

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator; Exhaust fan
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (oil); Wall AC units
• Interior features: 5 total rooms
• Laundry & utility: Washer/Dryer hookup with gas dryer; Water heater (domestic)

🏷️ Possibly a rental listed for sale. The $250,000 price doesn't fit this home's estimated sale value (~$335,345) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-145 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (8.4% below list).
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $229k (8.4% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 1.8% in Pittsfield — 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 66/100 on livability (#72 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Northwood School District (rural): math 51% / reading 60% proficiency, ranked #65 of 171 in NH (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Northwood Elementary School (math 42% / reading 52%, grade D-, #114 of 263 statewide, top 46%, 388 students, 16% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $229,063 (8.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.08% ✓
• Cap rate: 5.60%
• Cash-on-cash: -2.48%
• DSCR: 0.89
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $335,345
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 Esther Ln	0.02mi	2/1.0	968 (-14%)	21mo	$213,500	$221	55

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: -20.2%
• Equity multiple: 0.30×
• Total profit: $-49,348
• Equity at exit: $37,276

10-year hold

• IRR: -12.9%
• Equity multiple: 0.24×
• Total profit: $-53,299
• Equity at exit: $21,615

Cash invested: $70,000 (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 03261

• Home prices YoY: -21.7%
• Active inventory: 43
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,700 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$550
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $-145

Break-even live

Break-even rent $2,883

Max offer price $229,063

Occupancy floor —

Sensitivity live

Price	-10% $28	-5% $-58	+0% $-145	+5% $-231	+10% $-317
Rent	-10% $-358	-5% $-251	+0% $-145	+5% $-38	+10% $69
Rate	-1.0pp $-19	-0.5pp $-81	base $-145	+0.5pp $-209	+1.0pp $-275

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
94 Lakeshore Dr Unit A Northwood, NH	3.0	1.0	1176	$2,700	$2.30	25d	1	0.24mi

HOA detail

• Monthly dues: $550 · $6,600/yr
• Likely covers: water

Listing history 1 events

1. 2026-05-24
   historical $250,000

ⓘ 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: $32,400
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,592
• − Management: −$2,592
• − HOA: −$6,600
• − Depreciation: −$7,273
• Taxable loss: −$5,661
• Est. tax savings @ 24.0%: +$1,359
• After-tax cash flow: $-378/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.

Condition & rehab AI · 30 photos

Good 80/100 Cosmetic rehab

This move-in ready manufactured home offers stunning waterfront views and recent updates, making it an attractive option for both resale and rental.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both install new outdoor lighting — improves safety and enhances curb appeal
• Resale upgrade kitchen appliances — modernizes kitchen and adds value
• Resale install new flooring in bathrooms — enhances appearance and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both install new outdoor lighting — improves safety and enhances curb appeal ↑
• Resale upgrade kitchen appliances — modernizes kitchen and adds value ↑
• Resale install new flooring in bathrooms — enhances appearance and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Northwood School District
• NCES district ID: 3305430
• Math proficiency: 51% ▲ 3.00%
• Reading proficiency: 60% ▲ 12.00%
• Median HH income: $73,090
• Composite: 51.32/100
• National rank: #3718
• State rank: #65 of 171 in NH

Livability — Pittsfield

• Score: 66/100
• State rank: #72
• US rank: #12388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,653

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 316,118 people
• By 2030: 320,929 · +1.5%
• By 2040: 323,358 · +2.3%
• By 2050: 314,977 · -0.4%
• By 2075: 297,686 · -5.8%
• By 2100: 256,363 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 5% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 16% Romanian 6% Portuguese 4%
• Foreign-born: 2% · China
• Languages at home: 98% English-only · German/W. Germanic 1% Chinese 1%

Political lean MEDSL · Rockingham

• 2024 margin: Toss-up / Even · D 48.3% · R 50.8%
• 2008→2024 swing: -3.5pp toward R · 2008: 1.1pp · 2024: -2.4pp
• All cycles: 2024: R+2.4 2020: D+2.1 2016: R+5.8 2012: R+4.5 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.35%
• Current HPI: 258.0711
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-24 Coming Soon $250,000 PrimeMLS