20 True Rd #101 · Meredith, NH 03253

$145,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 603 Days on market

Built 2025 $199/sqft · 5% below area Est $153k · 5% under $500/mo HOA · 27% of rent

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Why this score? — see what drove the C- 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 +15.5/30.0
• ARV discount +9.9/15.0
• 1% rule +7.8/10.0
• DSCR +4.8/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HURRY! 1st come, 1st serve. .. .your choice between this home, #21 (MLS 5017019 ), #85 (MLS 5017022 ) and #103 (MLS 5017024 ). Brand NEW 2025, NEVER lived in 2 bedroom, 1 bath 2025 Manufactured home in Park. Step inside to an open concept living room/dining/eat-in-kitchen. The kitchen comes equipped with all brand new appliances, island with seating for 2 and ample cabinet space, utility space / laundry room. The primary bedroom has a huge walk in shower with seat. At the opposite end of the home is another bedroom and a full bathroom. Lot rent is $500.00/month and that includes water, sewer, road plowing/ maintenance and yourportion of land taxes. Dogs allowed with Park approval.

Key facts

• Built 2025
• Listed 602 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $59 ($710/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 2.2% in Meredith — 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 69/100 on livability (#49 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, schools B+; Watch: health & safety C-, amenities F, commute F.
• Inter-Lakes School District (rural): math 40% / reading 51% proficiency, ranked #50 of 98 in NH (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 69 active listings in the ZIP; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 603 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 603 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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: 1.28% ✓
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 6.5

CMA / ARV

• ARV (median comp): $153,000
• List price: $145,000
• Delta: -5.23%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 True Rd #63	0.19mi	2/1.0	728 (0%)	6mo	$145,000	$199	86

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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-19,454
• Equity at exit: $21,620

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-10,972
• Equity at exit: $12,537

Cash invested: $40,600 (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 03253

• Home prices YoY: -5.4%
• Active inventory: 69
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,852 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$83 /mo · $1,001/yr
• Insurance: −$60
• HOA: −$500
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $59

Break-even live

Break-even rent $1,778

Max offer price $145,000

Occupancy floor 92%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $500 · $6,000/yr
• Likely covers: watersewer

Listing history 17 events

1. 2026-06-19
   days on market $145,000 Active 603 DOM
2. 2026-06-18
   days on market $145,000 Active 602 DOM
3. 2026-06-17
   days on market $145,000 Active 601 DOM
4. 2026-06-16
   days on market $145,000 Active 600 DOM
5. 2026-06-15
   days on market $145,000 Active 599 DOM
6. 2026-06-14
   days on market $145,000 Active 597 DOM
7. 2026-06-12
   days on market $145,000 Active 596 DOM
8. 2026-06-09
   days on market $145,000 Active 593 DOM
9. 2026-06-08
   days on market $145,000 Active 592 DOM
10. 2026-06-07
    days on market $145,000 Active 591 DOM
11. 2026-06-05
    days on market $145,000 Active 589 DOM
12. 2026-06-04
    days on market $145,000 Active 587 DOM
13. 2026-06-02
    days on market $145,000 Active 586 DOM
14. 2026-06-01
    days on market $145,000 Active 585 DOM
15. 2026-05-31
    days on market $145,000 Active 584 DOM
16. 2026-05-31
    days on market $145,000 Active 583 DOM
17. 2024-10-24
    listed $145,000 Active 689-char remark

    Show marketing remark (689 chars)

    HURRY! 1st come, 1st serve. .. .your choice between this home, #21 (MLS 5017019 ), #85 (MLS 5017022 ) and #103 (MLS 5017024 ). Brand NEW 2025, NEVER lived in 2 bedroom, 1 bath 2025 Manufactured home in Park. Step inside to an open concept living room/dining/eat-in-kitchen. The kitchen comes equipped with all brand new appliances, island with seating for 2 and ample cabinet space, utility space / laundry room. The primary bedroom has a huge walk in shower with seat. At the opposite end of the home is another bedroom and a full bathroom. Lot rent is $500.00/month and that includes water, sewer, road plowing/ maintenance and yourportion of land taxes. Dogs allowed with Park approval.

ⓘ 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: $1,001 · $83/mo
• Projected year-2 tax: $2,081 · $173/mo
• Expected delta: +$1,080/yr (+$90/mo · 107.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,228
• − Mortgage interest: −$8,122
• − Property taxes: −$1,001
• − Insurance: −$725
• − Repairs & maintenance: −$1,778
• − Management: −$1,778
• − HOA: −$6,000
• − Depreciation: −$4,218
• Taxable loss: −$1,395
• Est. tax savings @ 24.0%: +$335
• After-tax cash flow: $1,044/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: Inter-Lakes School District
• NCES district ID: 3303960
• Math proficiency: 40% ▼ -14.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $59,674
• Composite: 39.94/100
• National rank: #3844
• State rank: #50 of 98 in NH

Livability — Meredith

• Score: 69/100
• State rank: #49
• US rank: #8561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meredith, NH
• Population (ZIP): 6,677

Population outlook (Belknap County) Hauer SSP2

• Today (2025): 60,702 people
• By 2030: 60,353 · -0.6%
• By 2040: 58,264 · -4.0%
• By 2050: 54,533 · -10.2%
• By 2075: 45,622 · -24.8%
• By 2100: 33,772 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Asian 1%
• Common ancestry: Lithuanian 6% Slovak 3% Portuguese 2%
• Foreign-born: 6% · Canada, Dominican Republic
• Languages at home: 97% English-only · Tagalog/Filipino 1% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Belknap

• 2024 margin: R (+13.1) · D 43.1% · R 56.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 1.2pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.4 2016: R+16.8 2012: R+5.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.70%
• Current HPI: 464.1785
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2024-10-24 Listed $145,000 PrimeMLS