18 Souhegan St · Milford, NH 03055

$1,099,000

5 bd · 3.0 ba · 2,918 sqft · MultiFamily public records · 180 Days on market

Built 1825 0.41 ac lot $377/sqft · 49% above area Est $1149k · at est. ↓ 4% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• ARV discount +9.5/15.0
• 1% rule +8.2/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This fully restored c. 1825 Greek Revival property is ideally located just steps from downtown Milford and the iconic Suspension Bridge, offering both convenience and rental appeal. With 4,548 total sq ft, including a 1,230 sq. ft. Accessory Dwelling Unit, this property is well-suited for investors or owner-occupants seeking to live in one unit while renting the other. The main residence offers 5 bedrooms, while the ADU features 2 bedrooms plus an office, creating flexible rental configurations for long-term tenants, multi-generational living, or work-from-home setups. The home has been rebuilt from the studs, minimizing deferred maintenance and capital expenditures, with major improvements including new windows, updated heating and cooling systems, foam insulation, cedar siding, and white oak flooring. The main home features high-quality finishes that enhance desirability, including a chef’s kitchen with quartz countertops and maple cabinetry, updated bathrooms with porcelain tile, quartz surfaces, and Schluter Kerdi waterproofing. Period details—original cast-iron grilles, antique doors, and decorative masonry—add character that differentiates this property in the rental market. Exterior features add further value, including granite walls, hand-laid brick walkways, a covered porch with Brazilian walnut and Douglas fir, and a large barn offering 840 sq ft of clear-span storage—ideal for owner/tenant storage. An excellent opportunity to improve cash flow from day one.

Key facts

• Walnut staircase
• Mosaic marble
• Porcelain tile

Tags

• ACCESSORY DWELLING UNIT
• CHEF'S KITCHEN
• MOSAIC MARBLE
• PORCELAIN TILE
• RESTORED CLAWFOOT TUB
• WALNUT STAIRCASE

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.10M).
• Recommended offer: $967k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 2.5% in Milford — 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 70/100 on livability (#45 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B; Watch: amenities F, commute F, health & safety D-.
• Milford School District (suburban): math 35% / reading 50% proficiency, ranked #57 of 98 in NH (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 42 active listings in the ZIP; solid renter incomes; 981 units permitted in Hillsborough County in 2024 (381 in 5+ unit buildings).
• At $14,527/mo this rent would consume 178% of the median local household income ($98k/yr) (locally 495% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $33k of value loss. Plan a longer hold.
• Hillsborough County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $308k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($967k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1825 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $967,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1825 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.32% ✓
• Cap rate: 11.03%
• Cash-on-cash: 16.92%
• DSCR: 1.75
• GRM: 6.3

CMA / ARV

• ARV (median comp): $1,149,418
• List price: $1,099,000
• Delta: -4.39%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30 High St	0.22mi	4/2.0 (-1)	3,093 (+6%)	13mo	$510,000	$165	59
22 Marshall St	0.47mi	6/3.0 (+1)	3,326 (+14%)	9mo	$675,000	$203	42

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: 8.1%
• Equity multiple: 1.32×
• Total profit: $98,146
• Equity at exit: $163,864

10-year hold

• IRR: 17.4%
• Equity multiple: 2.43×
• Total profit: $440,986
• Equity at exit: $95,021

Cash invested: $307,720 (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 03055

• Active inventory: 42
• Price-to-rent: 41.6×

Monthly cashflow live

• Estimated rent: $14,527 medium
• Mortgage (P&I): −$5,763
• Tax from tax record: −$917 /mo · $11,005/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,051
• Net cashflow: $4,338

Break-even live

Break-even rent $9,036

Max offer price $1,099,000

Occupancy floor 65%

7-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	5	3	$11,005
▸ 2× units	2	1	$3,524
Total (7 units)			$14,527

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: $274,750
• Closing costs: $32,970
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $1,099,000 Active 180 DOM
2. 2026-06-17
   days on market $1,099,000 Active 179 DOM
3. 2026-06-15
   days on market $1,099,000 Active 177 DOM
4. 2026-06-14
   days on market $1,099,000 Active 175 DOM
5. 2026-06-10
   days on market $1,099,000 Active 172 DOM
6. 2026-06-09
   days on market $1,099,000 Active 171 DOM
7. 2026-06-08
   days on market $1,099,000 Active 170 DOM
8. 2026-06-07
   days on market $1,099,000 Active 169 DOM
9. 2026-06-05
   days on market $1,099,000 Active 166 DOM
10. 2026-06-03
    days on market $1,099,000 Active 165 DOM
11. 2026-06-02
    days on market $1,099,000 Active 164 DOM
12. 2026-06-01
    days on market $1,099,000 Active 163 DOM
13. 2026-05-31
    days on market $1,099,000 Active 162 DOM
14. 2026-05-30
    days on market $1,099,000 Active 161 DOM
15. 2026-03-19
    price $1,099,000 1516-char remark

    Show marketing remark (1516 chars)

    Discover exceptional value and timeless character in this beautifully restored c. 1825 Greek Revival home, just steps from downtown Milford with shops, and the iconic Suspension Bridge. Offering 4,548 total sq. ft. of living space, including a 1,230 sq ft Accessory Dwelling Unit, this property is ideal for extended family living, work-from-home flexibility, or rental income. The home features 7 total bedrooms (5 in the main home; 2 plus office in the ADU) and has been rebuilt from the studs with period-accurate finishes blended seamlessly with modern upgrades—new windows, updated heating and cooling, foam insulation, cedar siding, and white oak floors. The chef’s kitchen showcases quartz countertops, maple cabinetry, and an original decorative brick chimney. Bathrooms are finished with mosaic marble, porcelain tile, quartz, and Schluter Kerdi waterproofing. Historic charm endures throughout with original cast-iron grilles, antique doors, a restored clawfoot tub, and a walnut staircase featuring an imported Greek key runner from England. Outdoors, the property is equally impressive with granite walls, hand-laid brick walkways, a covered porch with Brazilian walnut and Douglas fir, and a spacious barn with 12” board-and-batten siding and 840 sq ft of clear-span storage. Adding to its rich legacy, in 1874 this home was the site of a sensational bank heist involving the Souhegan National Bank—an event that made national headlines, including coverage by The New York Times.

16. 2026-03-19
    price $1,099,000 1516-char remark

    Show marketing remark (1516 chars)

    Discover exceptional value and timeless character in this beautifully restored c. 1825 Greek Revival home, just steps from downtown Milford with shops, and the iconic Suspension Bridge. Offering 4,548 total sq. ft. of living space, including a 1,230 sq ft Accessory Dwelling Unit, this property is ideal for extended family living, work-from-home flexibility, or rental income. The home features 7 total bedrooms (5 in the main home; 2 plus office in the ADU) and has been rebuilt from the studs with period-accurate finishes blended seamlessly with modern upgrades—new windows, updated heating and cooling, foam insulation, cedar siding, and white oak floors. The chef’s kitchen showcases quartz countertops, maple cabinetry, and an original decorative brick chimney. Bathrooms are finished with mosaic marble, porcelain tile, quartz, and Schluter Kerdi waterproofing. Historic charm endures throughout with original cast-iron grilles, antique doors, a restored clawfoot tub, and a walnut staircase featuring an imported Greek key runner from England. Outdoors, the property is equally impressive with granite walls, hand-laid brick walkways, a covered porch with Brazilian walnut and Douglas fir, and a spacious barn with 12” board-and-batten siding and 840 sq ft of clear-span storage. Adding to its rich legacy, in 1874 this home was the site of a sensational bank heist involving the Souhegan National Bank—an event that made national headlines, including coverage by The New York Times.

17. 2025-12-20
    listed $1,149,000 Active 1516-char remark

    Show marketing remark (1516 chars)

    Discover exceptional value and timeless character in this beautifully restored c. 1825 Greek Revival home, just steps from downtown Milford with shops, and the iconic Suspension Bridge. Offering 4,548 total sq. ft. of living space, including a 1,230 sq ft Accessory Dwelling Unit, this property is ideal for extended family living, work-from-home flexibility, or rental income. The home features 7 total bedrooms (5 in the main home; 2 plus office in the ADU) and has been rebuilt from the studs with period-accurate finishes blended seamlessly with modern upgrades—new windows, updated heating and cooling, foam insulation, cedar siding, and white oak floors. The chef’s kitchen showcases quartz countertops, maple cabinetry, and an original decorative brick chimney. Bathrooms are finished with mosaic marble, porcelain tile, quartz, and Schluter Kerdi waterproofing. Historic charm endures throughout with original cast-iron grilles, antique doors, a restored clawfoot tub, and a walnut staircase featuring an imported Greek key runner from England. Outdoors, the property is equally impressive with granite walls, hand-laid brick walkways, a covered porch with Brazilian walnut and Douglas fir, and a spacious barn with 12” board-and-batten siding and 840 sq ft of clear-span storage. Adding to its rich legacy, in 1874 this home was the site of a sensational bank heist involving the Souhegan National Bank—an event that made national headlines, including coverage by The New York Times.

18. 2025-12-20
    listed $1,149,000 Active 1516-char remark

    Show marketing remark (1516 chars)

    Discover exceptional value and timeless character in this beautifully restored c. 1825 Greek Revival home, just steps from downtown Milford with shops, and the iconic Suspension Bridge. Offering 4,548 total sq. ft. of living space, including a 1,230 sq ft Accessory Dwelling Unit, this property is ideal for extended family living, work-from-home flexibility, or rental income. The home features 7 total bedrooms (5 in the main home; 2 plus office in the ADU) and has been rebuilt from the studs with period-accurate finishes blended seamlessly with modern upgrades—new windows, updated heating and cooling, foam insulation, cedar siding, and white oak floors. The chef’s kitchen showcases quartz countertops, maple cabinetry, and an original decorative brick chimney. Bathrooms are finished with mosaic marble, porcelain tile, quartz, and Schluter Kerdi waterproofing. Historic charm endures throughout with original cast-iron grilles, antique doors, a restored clawfoot tub, and a walnut staircase featuring an imported Greek key runner from England. Outdoors, the property is equally impressive with granite walls, hand-laid brick walkways, a covered porch with Brazilian walnut and Douglas fir, and a spacious barn with 12” board-and-batten siding and 840 sq ft of clear-span storage. Adding to its rich legacy, in 1874 this home was the site of a sensational bank heist involving the Souhegan National Bank—an event that made national headlines, including coverage by The New York Times.

19. 2025-09-21
    price $1,149,000
20. 2025-09-21
    price $1,149,000
21. 2025-03-07
    price $1,150,000
22. 2025-03-07
    price $1,150,000

ⓘ 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: $11,005 · $917/mo
• Projected year-2 tax: $17,482 · $1,457/mo
• Expected delta: +$6,477/yr (+$540/mo · 58.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $174,324
• − Mortgage interest: −$61,561
• − Property taxes: −$11,005
• − Insurance: −$5,495
• − Repairs & maintenance: −$13,946
• − Management: −$13,946
• − Depreciation: −$31,971
• Taxable income: $36,400
• Est. tax owed @ 24.0%: −$8,736
• After-tax cash flow: $43,321/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: Milford School District
• NCES district ID: 3304830
• Math proficiency: 35% ▼ -18.00%
• Reading proficiency: 50% ▼ -6.00%
• Median HH income: $67,496
• Composite: 38.18/100
• National rank: #4262
• State rank: #57 of 98 in NH

Livability — Milford

• Score: 70/100
• State rank: #45
• US rank: #7432

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milford, NH
• County: Hillsborough County · 309,362 people
• City population: 16,337
• Metro: Manchester-Nashua, NH
• Population (ZIP): 16,337
• Household income: $97,768
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 495.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 412,771 people
• By 2030: 410,974 · -0.4%
• By 2040: 399,959 · -3.1%
• By 2050: 381,542 · -7.6%
• By 2075: 339,855 · -17.7%
• By 2100: 289,270 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 8% Hispanic / Latino 2% Asian 2%
• Common ancestry: Lithuanian 11% Estonian 4% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Other Indo-European 4% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 50.9% · R 48.0% · Other 1.0%
• 2008→2024 swing: -0.9pp no change · 2008: 3.8pp · 2024: 2.9pp
• All cycles: 2024: D+2.9 2020: D+7.7 2016: R+0.2 2012: D+1.7 2008: D+3.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.91%
• Current HPI: 207.1058
• Rent YoY: —
• Metro: Manchester-Nashua, NH
• State GDP YoY: —
• F500 in state: 0

Price history

-4.4% since first listed

8 events — show timeline

• 2026-03-19 Price Changed $1,099,000 PrimeMLS
• 2026-03-19 Price Changed $1,099,000 PrimeMLS
• 2025-12-20 Listed $1,149,000 PrimeMLS
• 2025-12-20 Listed $1,149,000 PrimeMLS
• 2025-09-21 Price Changed $1,149,000 PrimeMLS
• 2025-09-21 Price Changed $1,149,000 PrimeMLS
• 2025-03-07 Price Changed $1,150,000 PrimeMLS
• 2025-03-07 Price Changed $1,150,000 PrimeMLS

Property tax history

+7.3%/yr

Latest (2025): $11,005 · +120.1% YoY. Source: county tax records.