50 South St · Willimantic, CT 06226

$198,500

4 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 62 Days on market

Built 1991 9,583 sqft lot Est $271k · 27% under

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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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +7.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

No entry into this property will be available to the public due to the inhabitable condition and all offers will be submitted sight unseen. This property is being sold as is, in an Estate, and will require Probate Court approval. The sale of this property is a short sale.

Key facts

• 9,583 sq ft lot
• Built 1991
• Listed 62 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $198k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $198k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.4% in Willimantic — 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 85/100 on livability (#3 in CT, #487 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment F.
• Windham School District (town): math 15% / reading 25% proficiency, ranked #143 of 153 in CT (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Charles H. Barrows Stem Academy (math 35% / reading 44%, grade F, #298 of 553 statewide, top 56%, 553 students, 51% FRL); Windham Middle School (math 8% / reading 18%, grade F, #167 of 175 statewide, top 96%, 574 students, 78% FRL); Windham High School (math 12% / reading 27%, grade F, #170 of 194 statewide, top 88%, 662 students, 76% FRL) — zoned schools at 68% FRL track the district average.
• Market conditions: 40 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• At $2,475/mo this rent would consume 63% of the median local household income ($47k/yr) (locally 1122% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,590 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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 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: 1.25% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.45%
• DSCR: 1.47
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $270,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
170 S Park St	0.02mi	3/2.0 (-1)	1,184 (+3%)	20mo	$145,000	$122	73
15 Bristol St	0.41mi	3/1.0 (-1)	1,170 (+2%)	3mo	$245,000	$209	67
4 Gifford Ave	0.03mi	3/2.0 (-1)	1,036 (-10%)	13mo	$219,900	$212	66
24 Schoolhouse Ln	0.63mi	3/1.0 (-1)	1,092 (-5%)	2mo	$220,000	$201	52
73 Cherry Ln	0.58mi	4/2.0	1,229 (+7%)	14mo	$289,000	$235	50
65 Hewitt St	0.69mi	3/1.5 (-1)	1,170 (+2%)	9mo	$271,000	$232	50
222 Southridge Dr	0.53mi	3/1.0 (-1)	1,076 (-7%)	7mo	$253,000	$235	50
64 Gifford Ave	0.28mi	3/1.0 (-1)	1,248 (+8%)	18mo	$310,000	$248	49
15 Chapman St	0.52mi	3/2.5 (-1)	1,040 (-10%)	5mo	$250,000	$240	49
30 McDermott Ave	0.51mi	3/1.0 (-1)	1,008 (-12%)	10mo	$271,000	$269	38
285 Jackson St	0.75mi	3/1.0 (-1)	1,080 (-6%)	10mo	$270,000	$250	37
5 Charles St	0.71mi	3/1.0 (-1)	1,310 (+14%)	1mo	$140,000	$107	34

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,237
• Equity at exit: $29,597

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $39,022
• Equity at exit: $17,163

Cash invested: $55,580 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Connecticut: 27 Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Strong tenant statutes; rent commissions in some towns; courts slow especially in cities.

Methodology + full state rankings →

ZIP-level market 06226

• Home prices YoY: -9.3%
• Active inventory: 40
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,475 high
• Mortgage (P&I): −$1,041
• Tax from tax record: −$348 /mo · $4,172/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $484

Break-even live

Break-even rent $1,862

Max offer price $198,500

Occupancy floor 75%

Sensitivity live

Price	-10% $596	-5% $540	+0% $484	+5% $428	+10% $372
Rent	-10% $289	-5% $386	+0% $484	+5% $582	+10% $680
Rate	-1.0pp $584	-0.5pp $535	base $484	+0.5pp $433	+1.0pp $380

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: $49,625
• Closing costs: $5,955
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 Valley St Willimantic, CT	3.0	1.0	1400	$1,800	$1.29	15d	1	0.78mi
248 Ivan Hill St Willimantic, CT	4.0	1.0	1232	$2,800	$2.27	20d	1	1.04mi
173 Mansfield Ave Willimantic, CT	4.0	1.0	1200	$2,300	$1.92	15d	1	1.09mi
1 Ardman Dr Willimantic, CT	4.0	1.0	1134	$2,300	$2.03	45d	1	1.39mi
53 Lynwood Dr Willimantic, CT	4.0	1.0	1134	$2,200	$1.94	45d	1	1.44mi

Listing history 2 events

1. 2025-11-20
   status Under Contract
2. 2025-09-19
   listed $198,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CT · Partial reset (capped growth)

• Current annual tax: $4,172 · $348/mo
• Projected year-2 tax: $4,210 · $351/mo
• Expected delta: +$38/yr (+$3/mo · 0.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,702
• − Mortgage interest: −$11,119
• − Property taxes: −$4,172
• − Insurance: −$992
• − Repairs & maintenance: −$2,376
• − Management: −$2,376
• − Depreciation: −$5,775
• Taxable income: $2,892
• Est. tax owed @ 24.0%: −$694
• After-tax cash flow: $5,115/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: Windham School District
• NCES district ID: 0905190
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $40,956
• Composite: 17.01/100
• National rank: #9128
• State rank: #143 of 153 in CT

Livability — Willimantic

• Score: 85/100
• State rank: #3
• US rank: #487

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willimantic, CT
• County: Windham County · 30,529 people
• City population: 19,344
• Metro: Worcester, MA-CT
• Population (ZIP): 19,344
• Household income: $47,162
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 1122.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 45% White 44% Two or more races 20% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 30% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Slovak 1%
• Foreign-born: 9% · Canada, Guatemala, China
• Languages at home: 62% English-only · Spanish 33% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Southeastern Connecticut

• 2024 margin: D (+13.0) · D 55.6% · R 42.6% · Other 1.8%
• All cycles: 2024: D+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.01%
• Current HPI: 301.9706
• Rent YoY: —
• Metro: Worcester, MA-CT
• State GDP YoY: ▲ 1.06%
• F500 in state: 38

Industry mix (Fortune 500 HQ in CT)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$38B
▸Insurance	3	$71B
▸Financial Services	2	$25B
▸Transportation / Logistics	2	$18B
▸Healthcare	1	$247B
▸Telecommunications	1	$55B

Price history

2 events — show timeline

• 2025-11-20 Pending — Smart MLS
• 2025-09-19 Listed $198,500 Smart MLS

Property tax history

+0.3%/yr

Latest (2023): $4,172 · +1.5% YoY. Source: county tax records.