80 Sheldon Rd Lot 24 · Griswold, CT 06351

$48,900

2 bd · 1.0 ba · 684 sqft · Manufactured public records · 55 Days on market

Built 1979 2,178 sqft lot $625/mo HOA · 41% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOBILE HOME IN REALLY NICE SHAPE IN A 55 AN OLDER PARK, HAS NEWER FLOORING AND UPDATED FURNACE TO PROPANE, NEW HOT WATER HEATER AND HAS ACCESS TO DONESVILLE POND, GAZEBO TO ENJOY NICE DAYS. HAS A SHED FOR STORAGE AND AN ENCLOSED SECREENED IN PORCH, HANDI CAP RAMP, CLOSE TO RI.

Key facts

• Shed for storage
• 2,178 sq ft lot
• Built 1979

Tags

• OPEN KITCHEN TO LIVING ROOM
• ENCLOSED SCREENED IN PORCH
• VIEW OF DONESVILLE POND
• SHED FOR STORAGE

Property features AI

Finance

• Other: Located in New London County, Connecticut
• Financial info: Property managed professionally off-site
• HOA & community: Homeowners association with monthly fee; HOA covers lake/beach access, water, sewer, trash pickup, snow removal, road maintenance, and property management

Exterior

• Utilities: Shared well water; Shared septic
• Home design: Single-family home; Adult community (55+); On leased land
• Construction: Other construction; No basement listed
• Exterior features: Level lot; Water view with walk-to-water access; Open lot; Aluminum siding; Flat roof

Interior

• Kitchen: Gas Range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Hot air heating fueled by propane (above-ground tank)
• Interior features: Open floor plan

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $49k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $49k).
• Recommended offer: $47k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Griswold School District (rural): math 29% / reading 42% proficiency, ranked #111 of 153 in CT (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Griswold Elementary School (math 27% / reading 36%, grade F, #376 of 553 statewide, top 68%, 691 students, 52% FRL); Griswold High School (math 32% / reading 47%, grade F, #107 of 194 statewide, top 56%, 533 students, 46% FRL) — zoned schools average 49% FRL vs 31% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 75 active listings in the ZIP; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $338 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago 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.
• Current owner paid $33k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent.
• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,433 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 3.10% ✓
• Cap rate: 12.92%
• Cash-on-cash: 23.66%
• DSCR: 2.05
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 17.4%
• Equity multiple: 1.71×
• Total profit: $9,658
• Equity at exit: $7,291

10-year hold

• IRR: 26.2%
• Equity multiple: 3.35×
• Total profit: $32,121
• Equity at exit: $4,228

Cash invested: $13,692 (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 06351

• Home prices YoY: -22.8%
• Active inventory: 75
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,518 medium
• Mortgage (P&I): −$256
• Tax from tax record: −$27 /mo · $326/yr
• Insurance: −$20
• HOA: −$625
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $270

Break-even live

Break-even rent $1,176

Max offer price $48,900

Occupancy floor 77%

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: $12,225
• Closing costs: $1,467
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $625 · $7,500/yr
• Likely covers: water

Listing history 12 events

1. 2026-06-07
   statusdays on market $48,900 Under Contract 55 DOM
2. 2026-06-04
   days on market $48,900 Under Contract - Continue to Show 53 DOM
3. 2026-06-02
   days on market $48,900 Under Contract - Continue to Show 52 DOM
4. 2026-06-01
   days on market $48,900 Under Contract - Continue to Show 51 DOM
5. 2026-05-31
   days on market $48,900 Under Contract - Continue to Show 50 DOM
6. 2026-05-31
   days on market $48,900 Under Contract - Continue to Show 49 DOM
7. 2026-04-22
   historical Under Contract - Continue to Show
8. 2026-04-11
   listed $48,900 Active
9. 2023-12-13
   soldstatus $33,250 Closed 277-char remark

   Show marketing remark (277 chars)

   MOBILE HOME IN REALLY NICE SHAPE IN A 55 AN OLDER PARK, HAS NEWER FLOORING AND UPDATED FURNACE TO PROPANE, NEW HOT WATER HEATER AND HAS ACCESS TO DONESVILLE POND, GAZEBO TO ENJOY NICE DAYS. HAS A SHED FOR STORAGE AND AN ENCLOSED SECREENED IN PORCH, HANDI CAP RAMP, CLOSE TO RI.

10. 2023-11-19
    historical Under Contract - Continue to Show 277-char remark

    Show marketing remark (277 chars)

    MOBILE HOME IN REALLY NICE SHAPE IN A 55 AN OLDER PARK, HAS NEWER FLOORING AND UPDATED FURNACE TO PROPANE, NEW HOT WATER HEATER AND HAS ACCESS TO DONESVILLE POND, GAZEBO TO ENJOY NICE DAYS. HAS A SHED FOR STORAGE AND AN ENCLOSED SECREENED IN PORCH, HANDI CAP RAMP, CLOSE TO RI.

11. 2023-11-07
    listed $36,500 Active 277-char remark

    Show marketing remark (277 chars)

    MOBILE HOME IN REALLY NICE SHAPE IN A 55 AN OLDER PARK, HAS NEWER FLOORING AND UPDATED FURNACE TO PROPANE, NEW HOT WATER HEATER AND HAS ACCESS TO DONESVILLE POND, GAZEBO TO ENJOY NICE DAYS. HAS A SHED FOR STORAGE AND AN ENCLOSED SECREENED IN PORCH, HANDI CAP RAMP, CLOSE TO RI.

12. 2014-03-20
    soldstatus $10,500

ⓘ 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: $326 · $27/mo
• Projected year-2 tax: $686 · $57/mo
• Expected delta: +$360/yr (+$30/mo · 110.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,212
• − Mortgage interest: −$2,739
• − Property taxes: −$326
• − Insurance: −$244
• − Repairs & maintenance: −$1,457
• − Management: −$1,457
• − HOA: −$7,500
• − Depreciation: −$1,423
• Taxable income: $3,066
• Est. tax owed @ 24.0%: −$736
• After-tax cash flow: $2,504/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: Griswold School District
• NCES district ID: 0901740
• Math proficiency: 29% ▼ -22.00%
• Reading proficiency: 42% ▼ -13.00%
• Median HH income: $59,711
• Composite: 31.64/100
• National rank: #5932
• State rank: #111 of 153 in CT

Livability — Griswold

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 15,697

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 4% Native American 1%
• Common ancestry: Lithuanian 15% Romanian 10% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -67.06%
• Current HPI: 227.571
• Rent YoY: —
• Metro: —
• 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

+365.7% since first listed

6 events — show timeline

• 2026-04-22 Contingent — Smart MLS
• 2026-04-11 Listed $48,900 Smart MLS
• 2023-12-13 Sold (MLS) $33,250 Smart MLS
• 2023-11-19 Contingent — Smart MLS
• 2023-11-07 Listed $36,500 Smart MLS
• 2014-03-20 Sold (Public Records) $10,500 Public Records

Property tax history

+3.3%/yr

Latest (2023): $326 · +0.0% YoY. Source: county tax records.