271 Main St · Wakefield, NH 03887

$189,900

4 bd · 3.0 ba · 3,796 sqft · SingleFamily public records · 97 Days on market

Built 1900 0.52 ac lot

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Why this score? — see what drove the B 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).

• Cash flow +29.5/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Prime mixed-use investment opportunity in the heart of Union Village. This historic two-story New Englander, formerly a general store and retail space, offers outstanding visibility and flexible business/commercial zoning, making it ideal for an investor or contractor seeking a true value-added project. Seller will be re-roofing the main structure, reducing a major upfront expense; however, the property will require significant updating, making it well-suited for renovation and repositioning. The main building features a spacious upper-level apartment, ideal for rental income or owner occupancy, while a separate Cape-style house provides an additional income-producing unit or guest space. M

Key facts

• 0.52 acre lot
• Built 1900
• Listed 97 days

Property features AI

Exterior

• Parking: Gravel driveway
• Utilities: On-site private well (driven point); On-site private septic; 100 Amp electric service; Cable internet available; Utilities include cable and LP/bottle gas
• Home design: Cape-style home; White exterior color; Existing (not new construction)
• Construction: Timber frame construction; Shingle roof; Year built circa 1900
• Exterior features: Corner lot with sidewalks and curbing; Water frontage including pond, river, and stream; pond site and river frontage; waterfront and water view; In-town location; Gravel driveway; Paved public, publicly maintained road frontage

Interior

• Bathrooms: One full bathroom; One three-quarter bathroom; One half bathroom
• Heating & cooling: Propane and gas heating; Hot water heating with radiators
• Interior features: 14 total rooms; Full basement with interior and exterior access; Basement has bulkhead, dirt floor in parts, full height, interior stairs, exterior access, and is unfinished

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $678 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wakefield School District (rural): math 22% / reading 25% proficiency, ranked #94 of 98 in NH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 14 active listings in the ZIP; 357 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Carroll County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $62k; list at $190k implies a 204% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.30% ✓
• Cap rate: 10.57%
• Cash-on-cash: 15.29%
• DSCR: 1.68
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.6%
• Equity multiple: 3.76×
• Total profit: $146,596
• Equity at exit: $171,077

10-year hold

• IRR: 30.6%
• Equity multiple: 8.48×
• Total profit: $397,795
• Equity at exit: $368,934

Cash invested: $53,172 (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 03887

• Home prices YoY: 27.2%
• Active inventory: 14
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,474 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$202 /mo · $2,424/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $678

Break-even live

Break-even rent $1,616

Max offer price $189,900

Occupancy floor 68%

Sensitivity live

Price	-10% $785	-5% $731	+0% $678	+5% $624	+10% $570
Rent	-10% $482	-5% $580	+0% $678	+5% $775	+10% $873
Rate	-1.0pp $773	-0.5pp $726	base $678	+0.5pp $628	+1.0pp $578

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $189,900 Active 97 DOM
2. 2026-06-18
   days on market $189,900 Active 95 DOM
3. 2026-06-17
   days on market $189,900 Active 94 DOM
4. 2026-06-16
   days on market $189,900 Active 93 DOM
5. 2026-06-16
   price $189,900 Active 92 DOM
6. 2026-06-15
   days on market $199,900 Active 92 DOM
7. 2026-06-13
   days on market $199,900 Active 90 DOM
8. 2026-06-12
   days on market $199,900 Active 89 DOM
9. 2026-06-09
   days on market $199,900 Active 86 DOM
10. 2026-06-09
    status $199,900 Active 85 DOM
11. 2026-06-08
    days on market $199,900 Active with Contract 85 DOM
12. 2026-06-07
    days on market $199,900 Active with Contract 84 DOM
13. 2026-06-05
    days on market $199,900 Active with Contract 82 DOM
14. 2026-06-04
    days on market $199,900 Active with Contract 80 DOM
15. 2026-06-02
    days on market $199,900 Active with Contract 79 DOM
16. 2026-06-01
    days on market $199,900 Active with Contract 78 DOM
17. 2026-05-31
    days on market $199,900 Active with Contract 77 DOM
18. 2026-05-22
    historical Active with Contract
19. 2026-05-01
    price $199,900
20. 2026-05-01
    price $229,900
21. 2026-04-20
    price $239,900
22. 2026-04-10
    price $259,900
23. 2026-03-30
    price $269,900
24. 2026-03-15
    listed $279,900 Active
25. 2026-03-12
    historical $279,900
26. 2026-03-04
    soldstatus $62,400

ⓘ 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: $2,424 · $202/mo
• Projected year-2 tax: $3,282 · $273/mo
• Expected delta: +$858/yr (+$71/mo · 35.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,690
• − Mortgage interest: −$10,637
• − Property taxes: −$2,424
• − Insurance: −$950
• − Repairs & maintenance: −$2,375
• − Management: −$2,375
• − Depreciation: −$5,524
• Taxable income: $5,404
• Est. tax owed @ 24.0%: −$1,297
• After-tax cash flow: $6,834/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: Wakefield School District
• NCES district ID: 3306780
• Math proficiency: 22% ▼ -24.00%
• Reading proficiency: 25% ▼ -19.00%
• Median HH income: $49,547
• Composite: 20.76/100
• National rank: #8516
• State rank: #94 of 98 in NH

Livability — Wakefield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Union, NH
• Population (ZIP): 2,007

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 45,072 people
• By 2030: 43,158 · -4.2%
• By 2040: 38,044 · -15.6%
• By 2050: 33,087 · -26.6%
• By 2075: 25,661 · -43.1%
• By 2100: 18,684 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Asian 2% Black 1%
• Common ancestry: Lithuanian 12% Romanian 2% Slovak 2%
• Foreign-born: 2% · China
• Languages at home: 98% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Carroll

• 2024 margin: Toss-up / Even · D 48.8% · R 50.5%
• 2008→2024 swing: -8.0pp toward R · 2008: 6.3pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: D+1.5 2016: R+5.7 2012: R+0.8 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 113.76%
• Current HPI: 532.4284
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+220.4% since first listed

9 events — show timeline

• 2026-05-22 Contingent — PrimeMLS
• 2026-05-01 Price Changed $199,900 PrimeMLS
• 2026-05-01 Price Changed $229,900 PrimeMLS
• 2026-04-20 Price Changed $239,900 PrimeMLS
• 2026-04-10 Price Changed $259,900 PrimeMLS
• 2026-03-30 Price Changed $269,900 PrimeMLS
• 2026-03-15 Listed $279,900 PrimeMLS
• 2026-03-12 Coming Soon $279,900 PrimeMLS
• 2026-03-04 Sold (Public Records) $62,400 Public Records

Property tax history

+1.6%/yr

Latest (2024): $2,424 · +9.8% YoY. Source: county tax records.