Manchester NH Price To Rent

[Rudy Planter]

Finally relocating within the next two months and considering hacking a MFH.  I have been analyzing properties and listening to local investors, specifically about sold prices for small multis given the the below average availability of inventory. I have reviewed the state provided data (nhhfa) but it didn't provide useful data beyond 2 bedroom units. Besides contacting multiple property management companies, does anyone know of a resource that has aggregate data for price to rent/average rents by neighborhood that I could use in conjunction with BP Insights data?

[Brett C.]

My experience is that you will struggle to find agents in NH that can provide any insight into investing.  I would take anything they say with a massive grain of salt unless they are serious investors themselves.   

I have found that if you take 10% off Rentometer you have a pretty good ballpark and as others have said it takes about 4 minutes on Craigslist to get a very good feel for what market rents are in an area and you can adjust higher or lower for the property you are looking at.  Side by side duplexes rent at a premium of about 30% for comparable SF that is in a apartment building.  So if 1k sf 2 BR apartment is going for 1050 you should be looking at 1350 - 1400 for a duplex in the same town.  There aren’t many towns in NH so I recommend running your own numbers on Manch, Nashua, Goffstown, Plaistow, Derry, Dover, Milton, Concord and Rochester and you should have a stronger understanding of NH investor markets than 99% of agents.  

Goodluck!  NH is a fantastic place to invest.  Good hard working independent tenants abound in this State.