46 River Ledge Dr · Pinardville, NH 03045

$250,000

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 4 Days on market

Built 1982 Est $241k · at est.

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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).

• Cash flow +12.5/30.0
• ARV discount +5.7/15.0
• Schools +4.6/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Goffstown Adult Comm. Handicap accessible, spacious 2 bedrms, 2 baths. Fireplace, central AC, carport. Quiet and peaceful living. Clean and ready for occupancy. Park fee $405.00/Month. Pet friendly. Seller financing available

Key facts

• Covered parking
• Single-level living
• Central air

Tags

• SINGLE-LEVEL LIVING
• SPACIOUS PRIMARY SUITE
• CENTRAL AIR
• COVERED PARKING
• PET-FRIENDLY NEIGHBORHOOD
• LOW-MAINTENANCE LIFESTYLE

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $-37 ($-444/yr) — negative.
• To cash-flow at today's rent, offer at most $243k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (15.6% below list).
• Recommended offer: $211k (15.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.7% in Pinardville — 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 75/100 on livability (#30 in NH, #4,267 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, cost of living A+; Watch: schools F, amenities F, health & safety D-.
• Goffstown School District (suburban): math 41% / reading 62% proficiency, ranked #31 of 98 in NH (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 58 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 981 units permitted in Hillsborough County in 2024 (381 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.
• Hillsborough County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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 $128k; list at $250k implies a 95% gain — meaningful room to come down on a strong offer.

Recommended offer $211,017 (15.6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.84% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.63%
• DSCR: 0.97
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $240,576
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
46 River Ledge Dr	0.00mi	2/2.0	1,344 (0%)	1mo	$240,000	$179	99
16 Roger Rd	0.17mi	3/2.0 (+1)	1,344 (0%)	5mo	$180,000	$134	82
19 Kelly Ct	0.35mi	2/2.0	1,326 (-1%)	1mo	$218,000	$164	81
62 Roger Rd	0.19mi	3/2.0 (+1)	1,344 (0%)	7mo	$156,500	$116	80
18 Rachael Cir	0.16mi	2/1.5	1,339 (-0%)	16mo	$205,000	$153	76
19 My Way	0.34mi	2/2.0	1,416 (+5%)	1mo	$267,500	$189	74
243 Donald Dr	0.24mi	2/2.0	1,232 (-8%)	7mo	$245,000	$199	69
179 Donald Dr	0.27mi	2/2.0	1,204 (-10%)	2mo	$225,000	$187	68
117 River Ledge Dr	0.19mi	2/2.0	1,176 (-12%)	4mo	$240,000	$204	67
72 Country Way	0.09mi	2/2.0	1,176 (-12%)	17mo	$210,000	$179	61
248 Donald Dr	0.26mi	2/2.0	1,438 (+7%)	19mo	$225,000	$156	60
76 Donald Dr	0.37mi	3/2.0 (+1)	1,486 (+11%)	5mo	$195,000	$131	56

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-42,850
• Equity at exit: $37,276

10-year hold

• IRR: -9.3%
• Equity multiple: 0.42×
• Total profit: $-40,276
• 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 03045

• Home prices YoY: -13.4%
• Active inventory: 58
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,110 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$289 /mo · $3,466/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $-37

Break-even live

Break-even rent $2,157

Max offer price $243,465

Occupancy floor 97%

Sensitivity live

Price	-10% $105	-5% $34	+0% $-37	+5% $-108	+10% $-179
Rent	-10% $-204	-5% $-120	+0% $-37	+5% $46	+10% $130
Rate	-1.0pp $89	-0.5pp $27	base $-37	+0.5pp $-102	+1.0pp $-168

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Timberwood Dr #206 Goffstown, NH	2.0	1.0	980	$2,650	$2.70	21d	1	0.90mi
1300 Goffstown Rd #6 Manchester, NH	2.0	1.5	1440	$2,300	$1.60	44d	1	1.46mi

Listing history 5 events

1. 2026-04-20
   status Pending
2. 2026-04-16
   listed $250,000 Active
3. 2020-02-28
   soldstatus $128,000
4. 2007-04-16
   soldstatus $86,000 225-char remark

   Show marketing remark (225 chars)

   Goffstown Adult Comm. Handicap accessible, spacious 2 bedrms, 2 baths. Fireplace, central AC, carport. Quiet and peaceful living. Clean and ready for occupancy. Park fee $405.00/Month. Pet friendly. Seller financing available

5. 2006-09-11
   listed $92,900 225-char remark

   Show marketing remark (225 chars)

   Goffstown Adult Comm. Handicap accessible, spacious 2 bedrms, 2 baths. Fireplace, central AC, carport. Quiet and peaceful living. Clean and ready for occupancy. Park fee $405.00/Month. Pet friendly. Seller financing available

ⓘ 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: $3,466 · $289/mo
• Projected year-2 tax: $4,458 · $372/mo
• Expected delta: +$992/yr (+$83/mo · 28.6%)

ⓘ 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 ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,322
• − Mortgage interest: −$14,004
• − Property taxes: −$3,466
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,026
• − Management: −$2,026
• − Depreciation: −$7,273
• Taxable loss: −$4,722
• Est. tax savings @ 24.0%: +$1,133
• After-tax cash flow: $689/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: Goffstown School District
• NCES district ID: 3303240
• Math proficiency: 41% ▼ -13.00%
• Reading proficiency: 62% ▼ -1.00%
• Median HH income: $73,930
• Composite: 46.24/100
• National rank: #2488
• State rank: #31 of 98 in NH

Livability — Pinardville

• Score: 75/100
• State rank: #30
• US rank: #4267

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hillsborough County · 309,362 people
• Metro: Manchester-Nashua, NH
• Population (ZIP): 14,080
• Household income: $119,205
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 138.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 412,771 people
• By 2030: 410,974 · -0.4%
• By 2040: 399,959 · -3.1%
• By 2050: 381,542 · -7.6%
• By 2075: 339,855 · -17.7%
• By 2100: 289,270 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Lithuanian 16% Slovak 5% Romanian 5%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · French/Haitian/Cajun 2% Spanish 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 50.9% · R 48.0% · Other 1.0%
• 2008→2024 swing: -0.9pp no change · 2008: 3.8pp · 2024: 2.9pp
• All cycles: 2024: D+2.9 2020: D+7.7 2016: R+0.2 2012: D+1.7 2008: D+3.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.18%
• Current HPI: 331.4577
• Rent YoY: —
• Metro: Manchester-Nashua, NH
• State GDP YoY: —
• F500 in state: 0

Price history

+169.1% since first listed

5 events — show timeline

• 2026-04-20 Pending — PrimeMLS
• 2026-04-16 Listed $250,000 PrimeMLS
• 2020-02-28 Sold (Public Records) $128,000 Public Records
• 2007-04-16 Sold (MLS) $86,000 PrimeMLS
• 2006-09-11 Listed $92,900 PrimeMLS

Property tax history

+7.0%/yr

Latest (2025): $3,466 · +2.2% YoY. Source: county tax records.