Waterfront, Historic, Income Potential, Acreage, Lake Access
1900 Waterfront New Englander on Drew Mill Pond, Detached ADU — $139,900
6
out of 10
HousesUnder150K Score
Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%
| Category | Wt. | Score | Detail |
|---|---|---|---|
| Property Merit | 50% | 8 | Waterfront pond, 0.52 acres, 6BR, detached ADU, historic 1900 New Englander |
| Condition | 25% | 3 | "Significant updating required" — investor/contractor language, no named system dates |
| Price / Sq Ft | 15% | 10 | $58/sqft vs $272/sqft zip median — 79% below; thin 8-comp data but directionally striking |
| Price vs. Market | 5% | 10 | $139,900 vs $517,348 median — 73% below zip median; zip skewed by acreage/rural sales |
| Market Conditions | 5% | 6 | 28.3% price drops is buyer positive; 98.7% sale-to-list and 61 DOM suggest balanced market |
The number that stops you is $58 per square foot. The zip median is $272. That gap is big enough to make you look twice, and when you do, here is what you find: a 1900 New Englander on Drew Mill Pond in Union Village, six bedrooms across 2,400 square feet, a detached Cape-style ADU on the same half-acre lot, and a price that comes in 73% below the zip median. That combination does not show up often.
The main house is configured as two separate residential units. Add the one-bedroom ADU and you have a three-unit property on a single half-acre lot with pond frontage. For someone willing to do the work, that is a genuine income setup, not a stretch of imagination. The business/commercial zoning expands what is possible beyond residential rental, though the most straightforward path here is three doors producing rent.
The pond is real and it is on the lot. Drew Mill Pond is right there. That is the kind of thing that commands a premium in New Hampshire, where waterfront is a category people pay to be in. The fact that this one is attached to a project house is exactly why the price is where it is.
And it is a project. The agent description uses the phrase "significant updating required," which is code for: budget seriously before you write an offer. No roof date, no mechanicals history, no system ages listed anywhere in the data. That means you are walking in without knowing what the first year of costs looks like, which is real risk. This goes to a buyer who can physically assess what they are getting into, or who sends someone who can before closing.
What the price makes possible is this: waterfront land in New Hampshire, a multi-unit income property, and a detached ADU, all for less than a single-family starter in most of the state. The house will cost money. The question is whether the land, the water, and the three-unit structure are worth what comes after. At $139,900 on a pond, there is a credible argument that they are.
