5 Christian St

Derry, NH 03819

$99,900B

2 bd · 1.5 ba · 890 sqft · Built 1982 · Manufactured · Pending · 89 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,467/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$308
• Net cashflow: $483/mo
• Annual: $5,802/yr
• Cap rate: 12.10%
• Cash-on-cash: 20.74%
• DSCR: 1.92
• 1% rule: 1.47%
• Cash to close: $27,972

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $100k.
• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 89 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#13 in NH, #1,420 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: commute F.
• Timberlane Regional School District (suburban): math 32% / reading 50% proficiency, ranked #54 of 98 in NH (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Danville Elementary School (math 42% / reading 62%, grade C-, #82 of 263 statewide, top 34%, 285 students, 10% FRL) — zoned schools at 10% FRL track the district average.
• Market conditions: 13 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• 4 sale attempts since 29y 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 $32k; list at $100k implies a 217% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.1% vs local median 2.5% in Derry — 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.

Questions for listing agent

• It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.