Drewsville is an unincorporated community in the town of Walpole in Cheshire County, New Hampshire, United States. The village is located in the northeastern corner of Walpole, just south of the valley of the Cold River. New Hampshire Route 123 passes through the village, connecting it with Alstead to the east and the rest of Walpole and Bellows Falls, V…Drewsville is an unincorporated community in the town of Walpole in Cheshire County, New Hampshire, United States. The village is located in the northeastern corner of Walpole, just south of the valley of the Cold River. New Hampshire Route 123 passes through the village, connecting it with Alstead to the east and the rest of Walpole and Bellows Falls, Vermont to the west.