196 New Hillcrest Dr

Greenville, NH 03048

$130,000C

2 bd · 2.0 ba · 899 sqft · Built 1985 · Manufactured · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,440/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$204
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $252/mo
• Annual: $3,028/yr
• Cap rate: 8.62%
• Cash-on-cash: 8.32%
• DSCR: 1.37
• 1% rule: 1.11%
• Cash to close: $36,400

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $130k.
• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads 62/100 on livability (#86 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: employment D, schools F, amenities F.
• Mascenic Regional School District (rural): math 27% / reading 45% proficiency, ranked #69 of 98 in NH (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 21 active listings in the ZIP; 981 units permitted in Hillsborough County in 2024 (381 in 5+ unit buildings).
• Hillsborough County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 10 sale attempts since 30y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.