21 Adams Park · Portsmouth, NH 03870

$129,000

2 bd · 1.5 ba · 672 sqft · Manufactured public records · 6 Days on market

Built 1971 Est $131k · at est. $385/mo HOA · 14% of rent

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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 +8.2/15.0
• Schools +6.9/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a great deal near the beach? Here it is! This mobile home was completely rebuilt by the previous owners and is now ready for a new owner to call it home! Updates include new sheetrock, cabinets, flooring, bathroom, kitchen, windows, roof, plumbing and doors. Enjoy cooking in the kitchen with the stainless steel gas range! Situated on one of the largest lots in the park, you'll enjoy the great backyard this home has to offer. The park is dog friendly with no breed restrictions, and indoor cats are allowed.

Key facts

• Oversized shed
• Brand new stove
• Great backyard

Tags

• BRAND NEW STOVE
• GREAT BACKYARD
• OVERSIZED SHED

Property features AI

Finance

• Other: Lot identified as 021; Mobile serial number 8182; Mobile park approval: Yes
• HOA & community: Monthly association fee of 385; Association offers snow removal and trash removal; Road frontage maintained by association; paved

Exterior

• Utilities: Public water; Public sewer; 100 amp electric service; High-speed internet available; Cable available
• Home design: Manufactured/Mobile home; Model: Caravelle 2 bedroom; Make: Newport; Located in Adams Park (park approved)
• Construction: Built in 1971; Aluminum siding; Metal roof
• Exterior features: Level, open lot; Paved driveway; Blue exterior color; No water view or waterfront

Interior

• Kitchen: Refrigerator; Electric stove
• Bathrooms: 1 full bathroom
• Heating & cooling: Propane forced-air heating
• Interior features: 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $996 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $129k).
• Cap rate 15.6% vs local median 1.7% in Portsmouth — 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 86/100 on livability (#5 in NH, #354 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, health & safety A+; Watch: cost of living F.
• Rye School District (suburban): math 75% / reading 79% proficiency, ranked #6 of 98 in NH (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Rye Elementary School (math 92% / reading 87%, grade A+, #1 of 263 statewide, top 0%, 200 students, 2% FRL); Rye Junior High School (math 67% / reading 77%, grade A, #4 of 96 statewide, top 4%, 199 students, 4% FRL) — zoned schools at 2% FRL track the district average.
• Market conditions: 53 active listings in the ZIP; 2 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 $892 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 ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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.
• Current owner paid $46k; list at $129k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 2.09% ✓
• Cap rate: 15.55%
• Cash-on-cash: 33.07%
• DSCR: 2.47
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $131,040
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Adams Park	0.00mi	2/1.0	672 (0%)	0mo	$129,000	$192	98
30 Adams Park	0.04mi	1/1.0 (-1)	616 (-8%)	12mo	$119,900	$195	68

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: 28.3%
• Equity multiple: 2.18×
• Total profit: $42,694
• Equity at exit: $19,234

10-year hold

• IRR: 35.8%
• Equity multiple: 4.31×
• Total profit: $119,601
• Equity at exit: $11,154

Cash invested: $36,120 (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 03870

• Home prices YoY: -22.1%
• Active inventory: 53
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,700 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$22 /mo · $262/yr
• Insurance: −$54
• HOA: −$385
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $996

Break-even live

Break-even rent $1,439

Max offer price $129,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,069	-5% $1,032	+0% $996	+5% $812	+10% $767
Rent	-10% $782	-5% $889	+0% $996	+5% $1,102	+10% $1,209
Rate	-1.0pp $1,060	-0.5pp $1,028	base $996	+0.5pp $962	+1.0pp $928

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3548 Lafayette Rd Portsmouth, NH	1.0–3.0	1.0–2.0	707	$2,700	$3.82	3d	2	0.79mi
3548 Lafayette Rd Portsmouth, NH	1.0–3.0	1.0–2.0	707	$2,700	$3.82	0d	2	0.79mi

HOA detail

• Monthly dues: $385 · $4,620/yr
• Likely covers: gas

Listing history 6 events

1. 2026-05-20
   listed $129,000 Active
2. 2017-11-17
   soldstatus $46,000 Closed 522-char remark

   Show marketing remark (522 chars)

   Looking for a great deal near the beach? Here it is! This mobile home was completely rebuilt by the previous owners and is now ready for a new owner to call it home! Updates include new sheetrock, cabinets, flooring, bathroom, kitchen, windows, roof, plumbing and doors. Enjoy cooking in the kitchen with the stainless steel gas range! Situated on one of the largest lots in the park, you'll enjoy the great backyard this home has to offer. The park is dog friendly with no breed restrictions, and indoor cats are allowed.

3. 2017-10-15
   historical Active with Contract 522-char remark

   Show marketing remark (522 chars)

   Looking for a great deal near the beach? Here it is! This mobile home was completely rebuilt by the previous owners and is now ready for a new owner to call it home! Updates include new sheetrock, cabinets, flooring, bathroom, kitchen, windows, roof, plumbing and doors. Enjoy cooking in the kitchen with the stainless steel gas range! Situated on one of the largest lots in the park, you'll enjoy the great backyard this home has to offer. The park is dog friendly with no breed restrictions, and indoor cats are allowed.

4. 2017-09-29
   price $52,900 522-char remark

   Show marketing remark (522 chars)

   Looking for a great deal near the beach? Here it is! This mobile home was completely rebuilt by the previous owners and is now ready for a new owner to call it home! Updates include new sheetrock, cabinets, flooring, bathroom, kitchen, windows, roof, plumbing and doors. Enjoy cooking in the kitchen with the stainless steel gas range! Situated on one of the largest lots in the park, you'll enjoy the great backyard this home has to offer. The park is dog friendly with no breed restrictions, and indoor cats are allowed.

5. 2017-09-18
   price $59,000 522-char remark

   Show marketing remark (522 chars)

   Looking for a great deal near the beach? Here it is! This mobile home was completely rebuilt by the previous owners and is now ready for a new owner to call it home! Updates include new sheetrock, cabinets, flooring, bathroom, kitchen, windows, roof, plumbing and doors. Enjoy cooking in the kitchen with the stainless steel gas range! Situated on one of the largest lots in the park, you'll enjoy the great backyard this home has to offer. The park is dog friendly with no breed restrictions, and indoor cats are allowed.

6. 2017-08-10
   listed $65,000 Active 522-char remark

   Show marketing remark (522 chars)

   Looking for a great deal near the beach? Here it is! This mobile home was completely rebuilt by the previous owners and is now ready for a new owner to call it home! Updates include new sheetrock, cabinets, flooring, bathroom, kitchen, windows, roof, plumbing and doors. Enjoy cooking in the kitchen with the stainless steel gas range! Situated on one of the largest lots in the park, you'll enjoy the great backyard this home has to offer. The park is dog friendly with no breed restrictions, and indoor cats are allowed.

ⓘ 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: $262 · $22/mo
• Projected year-2 tax: $1,537 · $128/mo
• Expected delta: +$1,275/yr (+$106/mo · 486.7%)

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $32,394
• − Mortgage interest: −$7,226
• − Property taxes: −$262
• − Insurance: −$645
• − Repairs & maintenance: −$2,592
• − Management: −$2,592
• − HOA: −$4,620
• − Depreciation: −$3,753
• Taxable income: $10,705
• Est. tax owed @ 24.0%: −$2,569
• After-tax cash flow: $9,377/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: Rye School District
• NCES district ID: 3306030
• Math proficiency: 75% ▼ -7.00%
• Reading proficiency: 79% ▼ -4.00%
• Median HH income: $87,142
• Composite: 68.71/100
• National rank: #337
• State rank: #6 of 98 in NH

Livability — Portsmouth

• Score: 86/100
• State rank: #5
• US rank: #354

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 23,484
• Population (ZIP): 5,092

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 (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Lithuanian 10% Slovak 4% Romanian 3%
• Foreign-born: 6% · Canada
• Languages at home: 95% English-only · Other Indo-European 1% German/W. Germanic 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: ▼ -110.27%
• Current HPI: 389.7102
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+98.5% since first listed

6 events — show timeline

• 2026-05-20 Listed $129,000 PrimeMLS
• 2017-11-17 Sold (MLS) $46,000 PrimeMLS
• 2017-10-15 Contingent — PrimeMLS
• 2017-09-29 Price Changed $52,900 PrimeMLS
• 2017-09-18 Price Changed $59,000 PrimeMLS
• 2017-08-10 Listed $65,000 PrimeMLS

Property tax history

+2.0%/yr

Latest (2025): $262 · -9.0% YoY. Source: county tax records.