321 Yona Dr

Farmington, NH 03839

$135,000C+

3 bd · 1.0 ba · 586 sqft · Built 1988 · SingleFamily · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,715/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$225
• HOA: −$79
• Vac / Maint / Mgmt: −$360
• Net cashflow: $343/mo
• Annual: $4,112/yr
• Cap rate: 9.34%
• Cash-on-cash: 10.88%
• DSCR: 1.48
• 1% rule: 1.27%
• Cash to close: $37,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $135k. Condition is rated fair.
• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• It's been on market 28 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#79 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: health & safety C-, schools D, amenities F.
• Farmington School District (rural): math 20% / reading 36% proficiency, ranked #86 of 98 in NH (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 26 active listings in the ZIP; 951 units permitted in Strafford County in 2024 (551 in 5+ unit buildings).
• Strafford County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.3% vs local median 3.3% in Farmington — 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

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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: roof — visible wear
• Moderate: exterior siding — moderate wear