14 Brown Hill Road, Bow, NH 03304 — 16.1% Cash-on-Cash

About this property

14 Brown Hill Road is a 4-bedroom, 5-bathroom single-family property on 2.03 acres in Bow, NH, offering 3,885 square feet of living space at a $615,000 list price.

The property's layout is genuinely flexible in ways that matter to investors. Two primary suite options -- one on each floor -- give a landlord the ability to structure the space for multi-generational tenants or a house-hack arrangement where an owner occupies one suite and rents the rest. The upstairs suite adds a private deck and cedar closet; the downstairs suite offers single-floor convenience. Both have full bathrooms.

The kitchen is a standout: granite countertops, a built-in double oven with warming oven, and a custom center island with vent hood. The adjacent sunken family room has skylights, vaulted ceilings, and exposed beams -- details that photograph well and support premium rent positioning. The homeowners have also recently replaced the boiler, hot water tank, well pump, and water filtration system, representing over $25,000 in capital expenditures that a new owner won't face immediately.

At 73 days on market with a $35,000 price reduction already on record, the seller has signaled flexibility. The tax-assessed value sits at $713,700 -- nearly $100,000 above the current ask -- and a recent appraisal reportedly valued the property between $800,000 and $850,000. Those figures carry their own caveats, but the gap between list price and assessed value is notable. The 2.03-acre lot adds privacy and space that comparably priced properties in the area don't offer.

The investment case

A 16.1% cash-on-cash return at a $615,000 price point is rare in Bow -- where the city average sits at negative 10.0% -- and the numbers behind it hold up under scrutiny.

List Price

$615,000

Monthly Payment (PITI+HOA)

$4,340

Principal & Interest

$3,107

Property Tax

$1,028

Insurance

$205

HOA

$0

PMI

$0

Est. Monthly Rent

$5,995

Estimated rent based on automated valuation of comparable listings.

Cash-on-Cash Return

16.1%

Cap Rate

11.3%

Monthly Cash Flow

$1,655

Gross Rent Multiplier

8.5

DSCR

1.9

The monthly math starts with an estimated rent of $5,995 against a total monthly payment of $4,340 -- principal and interest at $3,107, property taxes at $1,028, and insurance at $205. That produces $1,655 in monthly cash flow before maintenance and vacancy reserves. The net operating income of $5,790 per month drives an 11.3% cap rate, which is strong for a single-family property in any New England market.

The debt service coverage ratio of 1.9 means the property generates nearly twice what's needed to cover the mortgage. Lenders typically want 1.25; 1.9 leaves meaningful buffer for vacancy or unexpected repairs. The gross rent multiplier of 8.5 reflects how quickly gross rents pay back the purchase price -- lower is better, and 8.5 is well below what most appreciating markets produce.

Compare that 16.1% cash-on-cash to the city average of negative 10.0%. Even the tenth-best deal in Bow's current leaderboard returns only 0.5% cash-on-cash. This property doesn't just beat the local market -- it operates in a different category. Cash flow is thin across Bow as a whole; this listing is an outlier, not a representative sample.

Figures exclude depreciation tax benefits, which vary by individual tax situation.

The investment case here is primarily income-driven, which is unusual for a Bow property at this price. The cap rate and DSCR give this deal a margin of safety that most local listings can't match.

Annual return outlook

The 24.5% projected 5-year total ROI draws from three sources, with cash flow doing most of the work.

Cash flow contributes 16.1 percentage points of that 24.5% figure -- the dominant driver. Mortgage paydown adds another 4.1 points as principal reduces over the holding period. Appreciation rounds out the picture at an estimated 4.2% annually, though that figure is a modeled projection rather than a market-scraped trend, so it carries more uncertainty than the income components.

For investors who are skeptical of appreciation assumptions, the good news is that this property doesn't need appreciation to justify the purchase. The cash flow and debt paydown alone account for over 20 percentage points of the five-year return. Appreciation is upside, not the thesis.

The gap between the $615,000 list price and the $713,700 tax-assessed value suggests some built-in equity on acquisition -- though assessed values and market values diverge in ways that vary by municipality, and that gap shouldn't be treated as guaranteed profit. Still, if the property were acquired and renovated (the listing flags paint and flooring as the primary needs), the path to appraised value in the $800,000-$850,000 range would represent a meaningful equity event on top of the income return.

How it compares to nearby for-sale listings

Five active 4-bedroom listings in Bow provide a pricing benchmark, and 14 Brown Hill Road sits well below the group's median.

The for-sale comp median price is $815,000 -- $200,000 above this property's $615,000 ask. On a price-per-square-foot basis, 14 Brown Hill Road's 3,885 square feet at $615,000 works out to roughly $158 per square foot. The closest size-comparable in the comp set, a 3,544-square-foot property at $819,900, prices at approximately $231 per square foot. That's a 46% premium for fewer square feet.

The comp set skews expensive: two listings exceed $800,000 and one reaches $995,000. The outlier on the low end, a 1,458-square-foot property at $524,900, is a different product entirely -- less than half the living area. Against the true size-comparable listings, 14 Brown Hill Road is priced at a meaningful discount.

Days on market tell a different story. The subject property has been listed 73 days, longer than any of its comps. That's partly explained by the $35,000 price reduction already taken, and it signals that the original pricing was off. The current ask, however, looks more defensible relative to what comparable square footage is trading for in the same zip code.

Rental demand in this zip

Rental comp data for 4-bedroom properties in ZIP 03304 is limited, which introduces uncertainty into the income projection.

The estimated monthly rent of $5,995 is the basis for all cash flow calculations, but there are no tracked rental comps in ZIP 03304 with 4 bedrooms to validate that figure against. That's a meaningful data gap. Bow is a predominantly owner-occupied market, and large single-family rentals don't turn over frequently enough to generate a robust comparable set.

What that means in practice: the $5,995 rent estimate should be treated as a reasonable projection rather than a confirmed market rate. Investors should independently canvass active rentals in adjacent Concord (ZIP 03301 and 03303) and comparable southern New Hampshire markets before underwriting at that figure. If actual achievable rent came in at $5,500 -- an 8% haircut -- monthly cash flow would drop from $1,655 to roughly $1,155, and cash-on-cash would compress from 16.1% to around 11.3%. Still positive, still well above the local average, but the sensitivity matters.

The property's dual primary suite configuration and premium finishes support a rent premium over a standard 4-bedroom house. The 2-acre lot and recent mechanical upgrades reduce tenant friction around maintenance complaints. Those qualitative factors support the upper end of the rent range, but they don't substitute for confirmed market data.

Who this property suits + risks to weigh

This property fits an income-focused buyer comfortable with a single-family rental in a low-turnover market -- not a speculative flip or a passive hands-off hold.

Best fit

The buyer who gets the most from this deal is someone who wants strong monthly income -- $1,655 in projected cash flow -- and can tolerate the management demands of a large single-family home on a 2-acre lot. The dual primary suite layout makes it workable for a house-hack strategy, where an owner lives in one suite and rents the rest, though the numbers above assume a full rental. The $25,000 in recent mechanical upgrades (boiler, hot water tank, well pump, water filtration) reduce near-term capital expenditure risk, which matters when underwriting a property this size.

The 16.1% cash-on-cash return also suits a buyer who has been priced out of income-producing properties elsewhere in New Hampshire. Most Bow listings don't cash flow at all -- the city average is negative 10.0%. Finding a deal that generates meaningful income here is uncommon enough that it warrants serious evaluation even if the property isn't perfect.

Risks to weigh

Seventy-three days on market is a flag worth examining. The price has already been cut by $35,000, which suggests the market hasn't embraced the original ask. That could reflect cosmetic condition (the listing acknowledges paint and flooring needs) or it could reflect something harder to see from the listing alone -- a well, septic, or structural issue. Pre-purchase inspection and well/septic testing are non-negotiable here.

The rent estimate lacks local comp support. A single-family rental at $5,995 per month in a predominantly owner-occupied zip code is a premium position, and vacancy risk is higher when the tenant pool for that price point is thin. The property is also non-owner occupied per public records, meaning it's been used as a rental -- asking the current owner for actual rent history and vacancy data would sharpen the underwriting considerably.