177 Main St #2 · Newmarket, NH 03857

$365,000

4 bd · 1.0 ba · 704 sqft · Condo public records · 106 Days on market

Built 1900 $518/sqft · 77% above area Est $412k · 11% under $225/mo HOA · 9% of rent

---

Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +12.6/15.0
• Cash flow +6.2/30.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked into the heart of downtown Newmarket, this character-filled 4-bedroom, 1.5-bath condo offers the perfect blend of historic charm and everyday convenience. Exposed beams and abundant natural light create a warm, inviting atmosphere throughout, while the thoughtfully designed galley kitchen opens to a spacious living and dining area ideal for gathering and entertaining. Step directly outside to your private patio—complete with a brand-new fence—offering a rare and coveted outdoor retreat right in town. Whether you’re enjoying your morning coffee or hosting friends on a summer evening, this space extends your living area beautifully. With four true bedrooms, there’s flexibility for guests, home office space, or creative pursuits. Just outside your door, enjoy all that vibrant downtown Newmarket has to offer—restaurants, coffee shops, local boutiques, and the scenic Lamprey River. Explore nearby trails, kayak the river, or take advantage of the town’s parks and recreational opportunities. Easy access to UNH and major commuter routes makes this location as practical as it is charming. If you’ve been looking for space, character, and walkability in one of the Seacoast’s most beloved small towns, this is it. PRE-INSPECTED

Key facts

• Scenic lamprey river
• Nearby trails
• Galley kitchen

Tags

• PRIVATE PATIO
• BRAND NEW FENCE
• GALLEY KITCHEN
• HISTORIC CHARM
• SCENIC LAMPREY RIVER
• NEARBY TRAILS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath condo listed at $365k.

Deal economics

• At list price, monthly cash flow is $-728 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (35.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (32.3% below list).
• Recommended offer: $236k (35.2% below list) — sets the bar for cash-flow.
• Cap rate 4.1% vs local median 1.5% in Newmarket — 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.

Location & tenants

• Location reads 86/100 on livability (#6 in NH, #368 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: amenities F.
• Newmarket School District (suburban): math 39% / reading 59% proficiency, ranked #37 of 98 in NH (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 37 active listings in the ZIP; solid renter incomes; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($332k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $24k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $112k; list at $365k implies a 226% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,417 (35.2% below list)

Questions for the listing agent

1. 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?
2. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.68% ✗
• Cap rate: 4.08%
• Cash-on-cash: -7.89%
• DSCR: 0.65
• GRM: 12.3

CMA / ARV

• ARV (median comp): $412,088
• List price: $365,000
• Delta: -11.43%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -31.3%
• Equity multiple: -0.03×
• Total profit: $-105,371
• Equity at exit: $54,423

10-year hold

• IRR: -34.6%
• Equity multiple: -0.48×
• Total profit: $-150,907
• Equity at exit: $31,559

Cash invested: $102,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 56 Moderately Landlord-Leaning
• State New Hampshire: 56 Moderately Landlord-Leaning · D+1
• County: — inherits STATE
• City: — inherits STATE

Has just-cause statute; 30-day notice; landlord-leaning vs. neighbors.

Methodology + full state rankings →

ZIP-level market 03857

• Home prices YoY: -10.7%
• Active inventory: 37
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,470 medium
• Mortgage (P&I): −$1,914
• Tax from tax record: −$333 /mo · $3,991/yr
• Insurance: −$152
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$225
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $-728

Break-even live

Break-even rent $3,392

Max offer price $236,417

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $365,000 Active 106 DOM
2. 2026-06-17
   days on market $365,000 Active 105 DOM
3. 2026-06-16
   days on market $365,000 Active 104 DOM
4. 2026-06-15
   days on market $365,000 Active 103 DOM
5. 2026-06-13
   days on market $365,000 Active 101 DOM
6. 2026-06-09
   days on market $365,000 Active 97 DOM
7. 2026-06-08
   days on market $365,000 Active 96 DOM
8. 2026-06-07
   days on market $365,000 Active 95 DOM
9. 2026-06-04
   days on market $365,000 Active 92 DOM
10. 2026-06-03
    days on market $365,000 Active 91 DOM
11. 2026-06-02
    days on market $365,000 Active 90 DOM
12. 2026-06-01
    days on market $365,000 Active 89 DOM
13. 2026-05-31
    days on market $365,000 Active 88 DOM
14. 2026-03-15
    price $379,000 1289-char remark

    Show marketing remark (1289 chars)

    Tucked into the heart of downtown Newmarket, this character-filled 4-bedroom, 1.5-bath condo offers the perfect blend of historic charm and everyday convenience. Exposed beams and abundant natural light create a warm, inviting atmosphere throughout, while the thoughtfully designed galley kitchen opens to a spacious living and dining area ideal for gathering and entertaining. Step directly outside to your private patio—complete with a brand-new fence—offering a rare and coveted outdoor retreat right in town. Whether you’re enjoying your morning coffee or hosting friends on a summer evening, this space extends your living area beautifully. With four true bedrooms, there’s flexibility for guests, home office space, or creative pursuits. Just outside your door, enjoy all that vibrant downtown Newmarket has to offer—restaurants, coffee shops, local boutiques, and the scenic Lamprey River. Explore nearby trails, kayak the river, or take advantage of the town’s parks and recreational opportunities. Easy access to UNH and major commuter routes makes this location as practical as it is charming. If you’ve been looking for space, character, and walkability in one of the Seacoast’s most beloved small towns, this is it. PRE-INSPECTED

15. 2026-03-14
    status Active 1289-char remark

    Show marketing remark (1289 chars)

    Tucked into the heart of downtown Newmarket, this character-filled 4-bedroom, 1.5-bath condo offers the perfect blend of historic charm and everyday convenience. Exposed beams and abundant natural light create a warm, inviting atmosphere throughout, while the thoughtfully designed galley kitchen opens to a spacious living and dining area ideal for gathering and entertaining. Step directly outside to your private patio—complete with a brand-new fence—offering a rare and coveted outdoor retreat right in town. Whether you’re enjoying your morning coffee or hosting friends on a summer evening, this space extends your living area beautifully. With four true bedrooms, there’s flexibility for guests, home office space, or creative pursuits. Just outside your door, enjoy all that vibrant downtown Newmarket has to offer—restaurants, coffee shops, local boutiques, and the scenic Lamprey River. Explore nearby trails, kayak the river, or take advantage of the town’s parks and recreational opportunities. Easy access to UNH and major commuter routes makes this location as practical as it is charming. If you’ve been looking for space, character, and walkability in one of the Seacoast’s most beloved small towns, this is it. PRE-INSPECTED

16. 2026-02-24
    status Pending 1289-char remark

    Show marketing remark (1289 chars)

    Tucked into the heart of downtown Newmarket, this character-filled 4-bedroom, 1.5-bath condo offers the perfect blend of historic charm and everyday convenience. Exposed beams and abundant natural light create a warm, inviting atmosphere throughout, while the thoughtfully designed galley kitchen opens to a spacious living and dining area ideal for gathering and entertaining. Step directly outside to your private patio—complete with a brand-new fence—offering a rare and coveted outdoor retreat right in town. Whether you’re enjoying your morning coffee or hosting friends on a summer evening, this space extends your living area beautifully. With four true bedrooms, there’s flexibility for guests, home office space, or creative pursuits. Just outside your door, enjoy all that vibrant downtown Newmarket has to offer—restaurants, coffee shops, local boutiques, and the scenic Lamprey River. Explore nearby trails, kayak the river, or take advantage of the town’s parks and recreational opportunities. Easy access to UNH and major commuter routes makes this location as practical as it is charming. If you’ve been looking for space, character, and walkability in one of the Seacoast’s most beloved small towns, this is it. PRE-INSPECTED

17. 2026-02-14
    listed $389,000 Active 1289-char remark

    Show marketing remark (1289 chars)

    Tucked into the heart of downtown Newmarket, this character-filled 4-bedroom, 1.5-bath condo offers the perfect blend of historic charm and everyday convenience. Exposed beams and abundant natural light create a warm, inviting atmosphere throughout, while the thoughtfully designed galley kitchen opens to a spacious living and dining area ideal for gathering and entertaining. Step directly outside to your private patio—complete with a brand-new fence—offering a rare and coveted outdoor retreat right in town. Whether you’re enjoying your morning coffee or hosting friends on a summer evening, this space extends your living area beautifully. With four true bedrooms, there’s flexibility for guests, home office space, or creative pursuits. Just outside your door, enjoy all that vibrant downtown Newmarket has to offer—restaurants, coffee shops, local boutiques, and the scenic Lamprey River. Explore nearby trails, kayak the river, or take advantage of the town’s parks and recreational opportunities. Easy access to UNH and major commuter routes makes this location as practical as it is charming. If you’ve been looking for space, character, and walkability in one of the Seacoast’s most beloved small towns, this is it. PRE-INSPECTED

18. 2015-01-20
    soldstatus $112,000
19. 2015-01-16
    soldstatus $112,000 459-char remark

    Show marketing remark (459 chars)

    Downtown Condo with off street parking, yard space, and plenty of room! Beautifully updated condo through out including stainless steal appliances, granite counter top, new carpet, paint and gleaming hardwood. So much to offer in this hidden gem exposed beams and a peaceful and tranquil space! Tons of character, strong association, assigned off street parking and so much more! Have to see to appreciate the charm, care and many great features of this home!

20. 2014-11-06
    listed $124,000 459-char remark

    Show marketing remark (459 chars)

    Downtown Condo with off street parking, yard space, and plenty of room! Beautifully updated condo through out including stainless steal appliances, granite counter top, new carpet, paint and gleaming hardwood. So much to offer in this hidden gem exposed beams and a peaceful and tranquil space! Tons of character, strong association, assigned off street parking and so much more! Have to see to appreciate the charm, care and many great features of this home!

21. 2011-06-29
    soldstatus $59,500
22. 2010-10-18
    listed $89,910
23. 2006-08-08
    soldstatus $175,900
24. 2006-08-01
    historical
25. 2006-04-24
    listed $169,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NH · Partial reset (capped growth)

• Current annual tax: $3,991 · $333/mo
• Projected year-2 tax: $5,974 · $498/mo
• Expected delta: +$1,983/yr (+$165/mo · 49.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,642
• − Mortgage interest: −$20,446
• − Property taxes: −$3,991
• − Insurance: −$2,492
• − Repairs & maintenance: −$2,371
• − Management: −$2,371
• − HOA: −$2,700
• − Depreciation: −$10,618
• Taxable loss: −$15,347
• Est. tax savings @ 24.0%: +$3,683
• After-tax cash flow: $-5,051/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Newmarket School District
• NCES district ID: 3305280
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 59% ▼ -4.00%
• Median HH income: $63,488
• Composite: 43.17/100
• National rank: #3070
• State rank: #37 of 98 in NH

Livability — Newmarket

• Score: 86/100
• State rank: #6
• US rank: #368

Category grades

Amenities F Commute A+ Cost of living C+ Crime A+ Employment A Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newmarket, NH
• County: Rockingham County · 137,526 people
• City population: 9,463
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 9,463
• Household income: $100,845
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 414.0

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 316,118 people
• By 2030: 320,929 · +1.5%
• By 2040: 323,358 · +2.3%
• By 2050: 314,977 · -0.4%
• By 2075: 297,686 · -5.8%
• By 2100: 256,363 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Asian 2% Hispanic / Latino 2%
• Common ancestry: Slovak 8% Lithuanian 7% Romanian 5%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Rockingham

• 2024 margin: Toss-up / Even · D 48.3% · R 50.8%
• 2008→2024 swing: -3.5pp toward R · 2008: 1.1pp · 2024: -2.4pp
• All cycles: 2024: R+2.4 2020: D+2.1 2016: R+5.8 2012: R+4.5 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.33%
• Current HPI: 379.8373
• Rent YoY: —
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

+123.1% since first listed

12 events — show timeline

• 2026-03-15 Price Changed $379,000 PrimeMLS
• 2026-03-14 Relisted — PrimeMLS
• 2026-02-24 Pending — PrimeMLS
• 2026-02-14 Listed $389,000 PrimeMLS
• 2015-01-20 Sold (Public Records) $112,000 Public Records
• 2015-01-16 Sold (MLS) $112,000 PrimeMLS
• 2014-11-06 Listed $124,000 PrimeMLS
• 2011-06-29 Sold (MLS) $59,500 PrimeMLS
• 2010-10-18 Listed $89,910 PrimeMLS
• 2006-08-08 Sold (MLS) $175,900 PrimeMLS
• 2006-08-01 Delisted — PrimeMLS
• 2006-04-24 Listed $169,900 PrimeMLS

Property tax history

+2.6%/yr

Latest (2025): $3,991 · +12.9% YoY. Source: county tax records.