9 Sargent Pl #73

Laconia, NH 03249

$139,900C-

2 bd · 1.0 ba · 744 sqft · Built 1969 · Manufactured · Active · 109 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,650/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$117
• HOA: −$525
• Vac / Maint / Mgmt: −$346
• Net cashflow: $-72/mo
• Annual: $-865/yr
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• 1% rule: 1.18%
• Cash to close: $39,172

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $140k.
• At list price, monthly cash flow is $-72 ($-865/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (9.1% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• It's been on market 109 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (9.1% below list) — sets the bar for cash-flow.
• In year one you build about $15k of equity ($967 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 79/100 on livability (#20 in NH, #2,314 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Gilford School District (rural): math 52% / reading 52% proficiency, ranked #32 of 98 in NH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Gilford Elementary School (math 57% / reading 62%, grade B-, #42 of 263 statewide, top 19%, 322 students, 13% FRL); Gilford Middle School (math 55% / reading 49%, grade C+, #18 of 96 statewide, top 19%, 305 students, 18% FRL); Gilford High School (math 37% / reading 52%, grade F, #54 of 90 statewide, top 61%, 499 students, 14% FRL) — zoned schools at 15% FRL track the district average.
• Watch-outs: HOA is 32% of rent.
• Market conditions: 87 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $140k implies a 120% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.7% vs local median 1.8% in Laconia — 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

• 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?
• It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.