76 Hillside Dr

Charlestown, NH 03603

$49,900A

2 bd · 1.0 ba · 1,008 sqft · Built 1985 · Manufactured · Active · 344 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,715/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$550
• Vac / Maint / Mgmt: −$360
• Net cashflow: $460/mo
• Annual: $5,522/yr
• Cap rate: 17.36%
• Cash-on-cash: 39.52%
• DSCR: 2.76
• 1% rule: 3.44%
• Cash to close: $13,972

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $50k. Condition is rated fair.
• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• It's been on market 344 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($345 loan paydown + $5k appreciation (10.0% local appreciation)).
• Location reads 71/100 on livability (#39 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, employment A; Watch: housing D, health & safety D, amenities F.
• Fall Mountain Regional School District (rural): math 32% / reading 47% proficiency, ranked #65 of 98 in NH (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fall Mountain Regional High School (math 37% / reading 62%, grade D, #37 of 90 statewide, top 49%, 487 students, 32% FRL) — zoned schools at 32% FRL track the district average.
• Watch-outs: HOA is 32% of rent.
• Market conditions: 36 active listings in the ZIP; 98 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).
• Sullivan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $20k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 17.4% vs local median 3.4% in Charlestown — 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 344 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: interior walls/paint — paint peeling in some areas
• Moderate: windows — existing windows, some need updating
• Minor: landscaping — some overgrown vegetation