37 Piggott Rd · Milton, NH 03851

$160,000

2 bd · 1.0 ba · 997 sqft · Manufactured public records · 37 Days on market

Built 1987 0.90 ac lot

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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).

• Appreciation +10.0/10.0
• Cash flow +8.9/30.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

PRICED BELOW ASSESSED VALUE!!! Affordable opportunity with privacy and potential in Milton! Situated on 0.9 acres on a town maintained public road, this 2-bedroom, 1-bath manufactured home offers a peaceful, secluded setting with no visible neighbors. The level lot provides plenty of usable outdoor space for gardening, recreation, or simply enjoying the quiet surroundings. Inside, the home features an open concept kitchen and living area, creating a comfortable and functional layout, along with a sunroom perfect for relaxing with your morning coffee or taking in the natural setting year-round. This property does need work, making it a great option for investors, flippers, or buyers looking

Key facts

• Open concept kitchen
• 0.9 acres
• Public road

Tags

• 0.9 ACRES
• PUBLIC ROAD
• LEVEL LOT
• OPEN CONCEPT KITCHEN
• SUNROOM
• PRIVATE COUNTRY FEEL

Property features AI

Exterior

• Parking: Dirt driveway
• Utilities: Drilled private well; Septic / leach field; 100 Amp service with circuit breakers; Cable available; Propane (LP) gas available; High-speed internet available
• Home design: Manufactured/Mobile home; Single-story (all main level rooms listed); Shingle roof
• Construction: Vinyl siding; Built in 1987
• Exterior features: Level, secluded wooded lot near paths and railroad; Dirt driveway; Public maintained dirt road frontage (road frontage present)

Interior

• Kitchen: Kitchen on main level; Gas stove; Microwave; Refrigerator; Dishwasher
• Bedrooms: Two bedrooms on main level
• Bathrooms: One full bathroom on main level
• Heating & cooling: Oil heat with forced air
• Interior features: Five total rooms; Sunroom on main level
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (21.6% below list).
• Recommended offer: $125k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 1.4% in Milton — 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 65/100 on livability (#77 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Milton School District (suburban): math 12% / reading 32% proficiency, ranked #95 of 98 in NH (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Milton Elementary School (math 17% / reading 32%, grade F, #230 of 263 statewide, top 91%, 249 students, 34% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 33 active listings in the ZIP; 951 units permitted in Strafford County in 2024 (551 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Strafford County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Recommended offer $125,429 (21.6% 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 37 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 5.33%
• Cash-on-cash: -3.43%
• DSCR: 0.85
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.8%
• Equity multiple: 2.76×
• Total profit: $79,004
• Equity at exit: $144,141

10-year hold

• IRR: 19.7%
• Equity multiple: 6.34×
• Total profit: $239,128
• Equity at exit: $310,845

Cash invested: $44,800 (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 03851

• Home prices YoY: 22.1%
• Active inventory: 33
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,254 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$213 /mo · $2,560/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $-128

Break-even live

Break-even rent $1,417

Max offer price $137,359

Occupancy floor —

Sensitivity live

Price	-10% $-38	-5% $-83	+0% $-128	+5% $-173	+10% $-219
Rent	-10% $-227	-5% $-178	+0% $-128	+5% $-79	+10% $-29
Rate	-1.0pp $-48	-0.5pp $-87	base $-128	+0.5pp $-170	+1.0pp $-212

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $160,000 Active 37 DOM
2. 2026-06-17
   days on market $160,000 Active 36 DOM
3. 2026-06-16
   days on market $160,000 Active 35 DOM
4. 2026-06-15
   days on market $160,000 Active 34 DOM
5. 2026-06-13
   days on market $160,000 Active 32 DOM
6. 2026-06-13
   days on market $160,000 Active 31 DOM
7. 2026-06-09
   days on market $160,000 Active 28 DOM
8. 2026-06-08
   days on market $160,000 Active 27 DOM
9. 2026-06-07
   days on market $160,000 Active 26 DOM
10. 2026-06-04
    days on market $160,000 Active 23 DOM
11. 2026-06-03
    days on market $160,000 Active 22 DOM
12. 2026-06-02
    days on market $160,000 Active 21 DOM
13. 2026-06-01
    days on market $160,000 Active 20 DOM
14. 2026-05-31
    days on market $160,000 Active 19 DOM
15. 2026-05-13
    listed $160,000 Active 1179-char remark

ⓘ 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: $2,560 · $213/mo
• Projected year-2 tax: $3,024 · $252/mo
• Expected delta: +$464/yr (+$39/mo · 18.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,051
• − Mortgage interest: −$8,962
• − Property taxes: −$2,560
• − Insurance: −$800
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$4,655
• Taxable loss: −$4,334
• Est. tax savings @ 24.0%: +$1,040
• After-tax cash flow: $-498/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: Milton School District
• NCES district ID: 3300616
• Math proficiency: 12% ▼ -3.00%
• Reading proficiency: 32% ▼ -3.00%
• Median HH income: $61,112
• Composite: 20.55/100
• National rank: #8560
• State rank: #95 of 98 in NH

Livability — Milton

• Score: 65/100
• State rank: #77
• US rank: #13370

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,286

Population outlook (Strafford County) Hauer SSP2

• Today (2025): 132,503 people
• By 2030: 135,377 · +2.2%
• By 2040: 139,609 · +5.4%
• By 2050: 141,803 · +7.0%
• By 2075: 149,280 · +12.7%
• By 2100: 148,667 · +12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Asian 1%
• Common ancestry: Lithuanian 22% Slovak 6% Russian 4%
• Foreign-born: 2% · Canada

Political lean MEDSL · Strafford

• 2024 margin: D (+12.1) · D 55.5% · R 43.5% · Other 1.0%
• 2008→2024 swing: -8.3pp toward R · 2008: 20.4pp · 2024: 12.1pp
• All cycles: 2024: D+12.1 2020: D+15.2 2016: D+8.6 2012: D+14.5 2008: D+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 77.19%
• Current HPI: 427.2207
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-13 Listed $160,000 PrimeMLS

Property tax history

+4.7%/yr

Latest (2024): $2,560 · +29.4% YoY. Source: county tax records.