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Updated almost 3 years ago on . Most recent reply

User Stats

12
Posts
2
Votes
Pankil P. Patel
  • Rental Property Investor
  • Ashland, MA
2
Votes |
12
Posts

New Hampshire investors - what do you think about Hillsboro NH?

Pankil P. Patel
  • Rental Property Investor
  • Ashland, MA
Posted

Where my NH investors at - what do you think about Hillsboro NH as buy and hold? Currently looking at a 4-unit MF in the area. List price $400K with rents $4100. I am an out of town investor so need your expertise and advice. Thank you!

  • Pankil P. Patel
  • Most Popular Reply

    User Stats

    137
    Posts
    126
    Votes
    Troy Zsofka
    • Investor
    • Hillsborough, NH
    126
    Votes |
    137
    Posts
    Troy Zsofka
    • Investor
    • Hillsborough, NH
    Replied

    I live in Hillsborough and have owned multiple SFRs in town; still own several.

    The Dominos is news to me. Walmart was going to develop and there was talk of a 55+ community with additional restaurants and retail, but none of it ever came to fruition.

    Overall, my investments here have served me well. Strong rents, good tenants, solid appreciation.

    Personally, I don't invest in small MFH due to higher turnover and generally lower tenant quality, but there is strong rental demand currently. Just make sure to screen prospective tenants well. 

    Lastly, $100K/unit for a small MFH in Hillsborough seems steep. Of course, we have seen significant cap rate compression even in tertiary markets so it's no real surprise that it's priced that high. At that price I would want the property to be in outstanding condition though. Also, depending on the size of the units, rents may be below market. There is almost nothing available and rents have increased tremendously over the past couple years.

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