Real Estate Investing in Lee, New Hampshire (03861)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 03861 (Lee, NH)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.1% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 32.6 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Lee, NH (03861)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 03861 Lee
ZIP 03861 inside Strafford County looks affordable on the surface — median value of $622K — but the discount exists for reasons that a careful buyer should understand before committing.
The 03861 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
ZIP 03861's metrics run below Strafford County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 03861 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 03861 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Lee:
Property Strategy for 03861
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $436,893 | $1,770 | 2.9% | +11.1% | $218,446 |
| 3BR | $603,407 | $2,190 | 2.6% | +11.0% | $201,136 |
| 4BR | $710,649 | $2,480 | 2.5% | +10.9% | $177,662 |
Market Trends
Home Value History (with trend line)
📊 How Does 03861 Compare?
| Metric | 03861 | Lee | New Hampshire |
|---|---|---|---|
| Home Value | $622,370 | $622,370 | $496,656 |
| 5-Year CAGR | 7.8% | 7.8% | 9.6% |
| Avg Rent | $1,593 | $1,593 | - |
| Cap Rate | 2.0% | 2.0% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 03861 (Lee, NH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $622,370 |
| Monthly Rent | $1,593 |
| Price-to-Rent | 32.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 9.8% |
📈 Home Appreciation
| 1-Year | +4.4% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +7.8% ▲ |
| 10-Year CAGR | +8.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 03861
Population: 4,558
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 03861
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 869 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors consider Lee, NH?
With a 3.0/5 investability score, Lee, NH ranks as a solid market for rental property investors. Median prices of $622K and rents of $1,593/mo drive the underlying numbers.
Do landlords face vacancy issues in Lee, NH?
Expect elevated vacancy in Lee, NH. Rents at $1,593/mo are absorbed by the tenant base without meaningful lag.
What is the average home sale price in Lee, NH?
Expect median prices around $622K in Lee, NH. The market has run at a 0.0% 5-year CAGR, so entry costs have been predictable.
What strategy should investors use in Lee, NH?
Investors usually favor careful cash-flow rentals with hands-on management in Lee, NH. With home values at $622K and rents near $1,593/mo, other strategies can work but produce reliable rather than outsized returns.
What is the typical rental rate in Lee, NH?
The typical rental in Lee, NH commands about $1,593/mo monthly. That rent profile consistent cash flow against the $622K purchase basis.
You know 03861 now. You don’t know where it ranks.
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How 03861 ranks in Boston-Cambridge-Newton, MA-NH
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