2 Marblehead Rd · Londonderry, NH 03087

$635,000

4 bd · 1.5 ba · 1,830 sqft · SingleFamily public records · 52 Days on market

Built 1962 0.83 ac lot $347/sqft · 8% above area Est $779k · 19% under

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Why this score? — see what drove the D 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 +15.0/15.0
• Cash flow +8.4/30.0
• Schools +6.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Set in one of Windham’s most desirable locations, this spacious 4-bedroom Ranch offers the perfect blend of comfort, style, and convenience. Just two blocks from Cobbetts Pond beach and minutes to I-93, this home is ideally suited for buyers seeking easy commuting paired with a neighborhood feel close to schools, recreation, and local amenities. Situated on a generous . 83-acre lot, the property provides both privacy and space for outdoor enjoyment. Inside, the open concept great room creates an inviting central gathering space, complemented by updated flooring throughout, including LVP and hardwood. The renovated kitchen features granite countertops, stainless steel appliances, and a

Key facts

• 0.83 acre lot
• Built 1962
• Listed 52 days

Property features AI

Exterior

• Parking: Paved driveway
• Utilities: Drilled well; 1250 gallon septic; 100 Amp electrical service; Cable internet available; On-site cable and LP/bottle gas available
• Home design: Ranch-style home; Existing construction; White exterior color; Shingle (asphalt) roof; Built in 1962
• Construction: Vinyl siding; Shingle (asphalt) roof; Built in 1962
• Exterior features: Paved driveway; Lake access with seasonal access only; Water view of Cobbetts Pond; Near shopping and schools; Public maintained road frontage (approx. 150')

Interior

• Kitchen: Kitchen on main level; Gas cooktop; Wall oven; Exhaust hood; Dishwasher; Refrigerator
• Bedrooms: Four bedrooms on main level
• Flooring: Combination of hardwood and vinyl plank flooring
• Bathrooms: One full bathroom on main level; One quarter bath (1/4) noted; One half bath in basement
• Heating & cooling: Propane heating; Baseboard heating; Forced air heating; Cooling: Other
• Interior features: Eight total rooms; Great room on main level and in basement; Family room; Utility room in basement; Assigned storage in basement; Stairs to basement
• Laundry & utility: Main-level laundry room; Washer and dryer included; Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $635k.

Deal economics

• At list price, monthly cash flow is $-569 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $535k (15.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $466k (26.6% below list).
• Recommended offer: $466k (26.6% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.5% in Londonderry — 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 80/100 on livability (#16 in NH, #1,834 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F, commute F.
• Windham School District (rural): math 64% / reading 74% proficiency, ranked #8 of 98 in NH (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 3% free/reduced lunch — higher-income household profile.
• Zoned schools: Golden Brook Elementary School (math 64% / reading 65%, grade B, #26 of 263 statewide, top 11%, 1,098 students, 3% FRL); Windham Middle School (math 66% / reading 76%, grade A, #7 of 96 statewide, top 6%, 438 students, 2% FRL); Windham High School (math 60% / reading 75%, grade B, #10 of 90 statewide, top 11%, 1,055 students, 2% FRL) — zoned schools at 2% FRL track the district average.
• Market conditions: 65 active listings in the ZIP; 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 $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($616k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $466,249 (26.6% 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 52 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.84%
• DSCR: 0.83
• GRM: 11.3

CMA / ARV

• ARV (median comp): $779,168
• List price: $635,000
• Delta: -18.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 Cobbetts Pond Rd	0.25mi	3/2.0 (-1)	1,788 (-2%)	2mo	$575,000	$322	76
210 Range Rd	0.48mi	3/2.5 (-1)	2,069 (+13%)	2mo	$610,000	$295	45
7 Copps Hill Rd	0.27mi	3/2.5 (-1)	2,030 (+11%)	20mo	$700,000	$345	44
17 Woodland Rd	0.65mi	3/2.0 (-1)	1,679 (-8%)	22mo	$590,000	$351	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -22.8%
• Equity multiple: 0.22×
• Total profit: $-139,133
• Equity at exit: $94,681

10-year hold

• IRR: -17.1%
• Equity multiple: 0.06×
• Total profit: $-167,851
• Equity at exit: $54,903

Cash invested: $177,800 (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 03087

• Active inventory: 65
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $4,662 medium
• Mortgage (P&I): −$3,330
• Tax from tax record: −$658 /mo · $7,890/yr
• Insurance: −$265
• HOA: −$0
• Vacancy / Maint / Mgmt: −$979
• Net cashflow: $-569

Break-even live

Break-even rent $5,382

Max offer price $534,532

Occupancy floor —

Sensitivity live

Price	-10% $-209	-5% $-389	+0% $-569	+5% $-748	+10% $-928
Rent	-10% $-937	-5% $-753	+0% $-569	+5% $-385	+10% $-200
Rate	-1.0pp $-249	-0.5pp $-407	base $-569	+0.5pp $-733	+1.0pp $-901

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: $158,750
• Closing costs: $19,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $635,000 Active 52 DOM
2. 2026-06-18
   days on market $635,000 Active 49 DOM
3. 2026-06-17
   days on market $635,000 Active 48 DOM
4. 2026-06-16
   days on market $635,000 Active 47 DOM
5. 2026-06-15
   days on market $635,000 Active 46 DOM
6. 2026-06-13
   days on market $635,000 Active 44 DOM
7. 2026-06-13
   days on market $635,000 Active 43 DOM
8. 2026-06-09
   days on market $635,000 Active 40 DOM
9. 2026-06-08
   days on market $635,000 Active 39 DOM
10. 2026-06-07
    pricedays on market $635,000 Active 38 DOM
11. 2026-06-04
    days on market $649,900 Active 35 DOM
12. 2026-06-03
    days on market $649,900 Active 34 DOM
13. 2026-06-02
    days on market $649,900 Active 33 DOM
14. 2026-06-01
    days on market $649,900 Active 32 DOM
15. 2026-05-31
    days on market $649,900 Active 31 DOM
16. 2026-04-30
    listed $649,900 Active 1322-char remark
17. 2026-04-24
    historical $649,900 1322-char remark
18. 2025-10-28
    price $689,500
19. 2020-11-28
    price $350,000

ⓘ 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: $7,890 · $658/mo
• Projected year-2 tax: $10,866 · $906/mo
• Expected delta: +$2,976/yr (+$248/mo · 37.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 15 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: $55,950
• − Mortgage interest: −$35,570
• − Property taxes: −$7,890
• − Insurance: −$3,175
• − Repairs & maintenance: −$4,476
• − Management: −$4,476
• − Depreciation: −$18,473
• Taxable loss: −$18,110
• Est. tax savings @ 24.0%: +$4,346
• After-tax cash flow: $-2,478/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: Windham School District
• NCES district ID: 3307170
• Math proficiency: 64% ▼ -10.00%
• Reading proficiency: 74% ▼ -1.00%
• Median HH income: $113,787
• Composite: 64.6/100
• National rank: #530
• State rank: #8 of 98 in NH

Livability — Londonderry

• Score: 80/100
• State rank: #16
• US rank: #1834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 15,922

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 (83%)
• Race & ethnicity: White 83% Asian 7% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 6% Romanian 3% Russian 3%
• Foreign-born: 9% · China, South Korea, Canada
• Languages at home: 90% English-only · Other Indo-European 4% Chinese 2% Russian/Polish/Slavic 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: ▼ -173.02%
• Current HPI: 315.2202
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+81.4% since first listed

5 events — show timeline

• 2026-06-06 Price Changed $635,000 PrimeMLS
• 2026-04-30 Listed $649,900 PrimeMLS
• 2026-04-24 Coming Soon $649,900 PrimeMLS
• 2025-10-28 Price Changed $689,500 PrimeMLS
• 2020-11-28 Price Changed $350,000 PrimeMLS

Property tax history

+4.3%/yr

Latest (2024): $7,890 · +5.8% YoY. Source: county tax records.