32 Mill Street, Rochester, NH 03867
MULTI_FAMILY - Other - Rochester, NH
- Added:
- Apr 14, 2025
- Days on Market:
- 426
- Last Refresh:
- Jun 13 at 3:06 am
Property Features for 32 Mill Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R2
- Bedrooms
- 8
- Bathrooms
- 6
- Rooms
- Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 6, Basement, Bathroom 4, Bedroom 7, Bedroom 8, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 5
- Standard status
- Active
- Size
- 4,528 SF
- Lot size
- 1.62 Acres
Utilities
- Heating system
- Steam, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1882
- Floors in Building
- 3
- Number of units
- 4
- Building materials
- Wood Frame, Vinyl Exterior
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Andy Yau License #074320 (603) 431-1111
Listing office RE/MAX Shoreline 875 Greenland Rd., Portsmouth, NH (603) 431-1111
Listing date Apr 14, 2025
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Waterfront quadplex on a large 1.62‑acre lot in East Rochester with direct access to the Salmon River
- Wood‑frame property with vinyl exterior; roof is shingle; built in 1882
- 4500+ sq ft total living space across 4 units
- Public water supply; heating includes steam and natural gas
- Additional attic space for storage or expansion opportunities
- Zoning density may allow additional units at the back with a special exception
Overview
The property includes direct access to the Salmon River, providing a private setting for canoeing and fishing from the doorsteps. Outside, residents can enjoy an open backyard, plus a 2-car garage and plenty of parking. Zoning is R2, and the remarks note the possibility of subdividing a separate waterfront multifamily parcel. The density may also allow additional units to be built out back with a special exception. Convenience is a theme here as well, with the home approximately 1.5 miles to downtown Rochester, 3 miles to Route 16, and about 20 miles to Portsmouth.
For tenants or buyers looking for larger, well-appointed apartment layouts, this configuration is designed to support comfort and day-to-day livability, including storage flexibility via attic space. The combination of river access, outdoor space, and separate utilities may appeal to operators seeking a straightforward income property with practical on-site amenities, while the R2 zoning and noted subdivision/build-out opportunities can be considered for future planning, subject to approvals.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.9k | $15.00 |
| − Vacancy | −$2.3k | −$0.50 |
| EGI | $65.7k | $14.50 |
| − OpEx | −$19.7k | −$4.35 |
| NOI | $46.0k | $10.15 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Strafford
- State
- New Hampshire
- Longitude
- -70.9373114
- Latitude
- 43.33637