24 Christopher Ln · Raymond, NH 03044

$130,000

2 bd · 2.0 ba · 980 sqft · Manufactured public records · 16 Days on market

Built 1988 $630/mo HOA

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Tucked within the highly desirable Poplin Estates Cooperative, this 980 sq ft manufactured home offers a chance to create something truly your own in a location buyers love. Conveniently located near grocery stores, restaurants, major highways, and commuter routes, while still under an hours reach of the ocean, mountains, and Boston, the setting offers both accessibility and lifestyle. Situated in a welcoming 55+ cooperative community, this home is livable as-is but will require updating and repairs, making it a great opportunity for a buyer with vision looking to build equity over time. Buyer must be owner-occupant and is subject to cooperative board approval. A rare opportunity to enter a

Key facts

• Near restaurants
• Commuter routes
• Near grocery stores

Tags

• NEAR GROCERY STORES
• NEAR RESTAURANTS
• MAJOR HIGHWAYS
• COMMUTER ROUTES
• UNDER AN HOURS REACH OF BOSTON
• 55 COOPERATIVE COMMUNITY

Property features AI

Finance

• HOA & community: Monthly cooperative/HOA fee: $630; One-time fees: $100 and $100; HOA/co-op fees may include recreation, sewer, trash, water, park fees and general HOA fee; Association offers common acreage

Exterior

• Utilities: Community water; Community sewer; Electric service with circuit breakers (Eversource); High-speed internet available; Cable available (Comcast); Phone service via Comcast
• Home design: Manufactured home (Manuf/Mobile); Single-story (manufactured structure); Shingle - Asphalt roof; Entry located in a manufactured home park (Poplin Estate Cooperative, Inc)
• Construction: Built in 1988; Aluminum siding; Vinyl siding
• Exterior features: Paved driveway; Located in a neighborhood; Common acreage (shared: 28.5 acres)

Interior

• Kitchen: Electric range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: 4 total rooms

🏢 Co-op / cooperative unit. The $130,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $555 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.1% in Raymond — 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 67/100 on livability (#63 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, health & safety A; Watch: amenities F, commute F.
• Fremont School District (rural): math 28% / reading 43% proficiency, ranked #67 of 98 in NH (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Ellis School (math 28% / reading 43%, grade F, #177 of 263 statewide, top 67%, 375 students, 12% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: 16 active listings in the ZIP; 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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.07% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.29%
• DSCR: 1.81
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $272,440
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Christopher Ln	0.07mi	2/1.0	980 (0%)	1mo	$162,500	$166	92
36 Christopher Ln	0.06mi	2/2.0	990 (+1%)	23mo	$179,000	$181	76
12 Acre St	0.49mi	2/1.5	924 (-6%)	1mo	$305,000	$330	64
6 Spring St	0.31mi	2/1.0	1,056 (+8%)	22mo	$224,900	$213	50
13 Debra Ave	0.59mi	3/2.0 (+1)	1,064 (+9%)	6mo	$305,000	$287	49
8 Sharon Way	0.34mi	2/2.0	1,092 (+11%)	20mo	$307,900	$282	49
11 Evelyn Ave	0.60mi	3/2.0 (+1)	1,076 (+10%)	5mo	$299,000	$278	46

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: 10.2%
• Equity multiple: 1.40×
• Total profit: $14,719
• Equity at exit: $19,383

10-year hold

• IRR: 19.5%
• Equity multiple: 2.65×
• Total profit: $60,155
• Equity at exit: $11,240

Cash invested: $36,400 (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 03044

• Home prices YoY: -18.0%
• Active inventory: 16
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,691 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$205 /mo · $2,461/yr
• Insurance: −$54
• HOA: −$630
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $555

Break-even live

Break-even rent $1,989

Max offer price $130,000

Occupancy floor 74%

Sensitivity live

Price	-10% $628	-5% $592	+0% $555	+5% $518	+10% $481
Rent	-10% $342	-5% $448	+0% $555	+5% $661	+10% $767
Rate	-1.0pp $620	-0.5pp $588	base $555	+0.5pp $521	+1.0pp $487

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $630 · $7,560/yr

Listing history 12 events

1. 2026-06-18
   status $130,000 Pending 16 DOM
2. 2026-06-17
   days on market $130,000 Active 16 DOM
3. 2026-06-16
   days on market $130,000 Active 15 DOM
4. 2026-06-15
   days on market $130,000 Active 14 DOM
5. 2026-06-13
   days on market $130,000 Active 12 DOM
6. 2026-06-09
   days on market $130,000 Active 8 DOM
7. 2026-06-08
   days on market $130,000 Active 7 DOM
8. 2026-06-07
   days on market $130,000 Active 6 DOM
9. 2026-06-04
   days on market $130,000 Active 3 DOM
10. 2026-06-03
    days on market $130,000 Active 2 DOM
11. 2026-06-02
    remarks 699-char remark
12. 2026-06-02
    listed $130,000 Active 1 DOM

ⓘ 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: $2,461 · $205/mo
• Projected year-2 tax: $2,648 · $221/mo
• Expected delta: +$186/yr (+$16/mo · 7.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,289
• − Mortgage interest: −$7,282
• − Property taxes: −$2,461
• − Insurance: −$650
• − Repairs & maintenance: −$2,583
• − Management: −$2,583
• − HOA: −$7,560
• − Depreciation: −$3,782
• Taxable income: $5,388
• Est. tax owed @ 24.0%: −$1,293
• After-tax cash flow: $5,364/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: Fremont School District
• NCES district ID: 3303150
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 43% ▼ -10.00%
• Median HH income: $83,728
• Composite: 33.93/100
• National rank: #5337
• State rank: #67 of 98 in NH

Livability — Raymond

• Score: 67/100
• State rank: #63
• US rank: #10832

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,783

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 17% Romanian 5% Slovak 4%
• Foreign-born: 4% · Canada, China
• Languages at home: 97% English-only · Chinese 1% Other Indo-European 1% Spanish 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: ▼ -67.29%
• Current HPI: 307.2417
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-01 Listed $130,000 PrimeMLS

Property tax history

+4.1%/yr

Latest (2025): $2,461 · +66.6% YoY. Source: county tax records.