10 Chestnut Dr · Westbrook, CT 06498

$184,500

2 bd · 1.5 ba · 868 sqft · Manufactured public records · 6 Days on market

Built 1981 $621/mo HOA · 24% of rent

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Why this score? — see what drove the C+ 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 +23.4/30.0
• 1% rule +9.3/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable Coastal lifestyle in a sought after 55+ community with private beach rights awaits, just in time for summer fun! This 2 BR, 1 1/2 bath home sits in a great location for a short walk to Grove Beach, or maybe you just want to sit on the porch and soak up the salt air. The layout is ideal with 2 good size bedrooms, one at each end of home and one with a 1/2 bath. There is also a shed for extra storage, the home has 2 Mitsubishi split units for heating and cooling. The location is close to Clinton and minutes away from the Westbrook town beach. Old Saybrook is a short drive and you are surrounded by many great restaurants and shopping choices. Land lease includes garbage pick up, wat

Key facts

• Updated full bath
• Private beach rights
• 2 parking spots

Tags

• PRIVATE BEACH RIGHTS
• SHORT WALK TO GROVE BEACH
• SHED FOR EXTRA STORAGE
• MITSUBISHI SPLIT UNITS
• UPDATED FULL BATH

Property features AI

Finance

• Financial info: Professional on-site property management
• HOA & community: Homeowners association with monthly fee; HOA fee includes clubhouse, front desk receptionist, lake/beach access, trash pickup, water, sewer, property management, and road maintenance; Association amenities include clubhouse and guest parking

Exterior

• Parking: Paved driveway; 2 parking spaces
• Utilities: Public water connected; Septic sewer; Electric power and heat fuel
• Home design: Single-family home in a 55+ adult community; Walk to water
• Construction: Frame construction; Aluminum siding; Blue exterior color; Asphalt shingle roof; No foundation listed
• Exterior features: Shed; Porch; Patio; Dry lot

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Heat pump heating (electric); Split system cooling
• Interior features: Total of 4 rooms; No basement
• Laundry & utility: Washer and dryer located in main level hallway

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $184k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $184k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Westbrook School District (suburban): math 51% / reading 69% proficiency, ranked #49 of 153 in CT (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Westbrook High School (math 44% / reading 64%, grade C-, #63 of 194 statewide, top 39%, 202 students, 27% FRL).
• Market conditions: 30 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).

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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,500

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.43% ✓
• Cap rate: 8.51%
• Cash-on-cash: 7.91%
• DSCR: 1.35
• GRM: 5.8

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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-7,892
• Equity at exit: $27,510

10-year hold

• IRR: 5.8%
• Equity multiple: 1.43×
• Total profit: $22,362
• Equity at exit: $15,952

Cash invested: $51,660 (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 06498

• Active inventory: 30
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,630 medium
• Mortgage (P&I): −$968
• Tax from tax record: −$72 /mo · $863/yr
• Insurance: −$77
• HOA: −$621
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $340

Break-even live

Break-even rent $2,199

Max offer price $184,500

Occupancy floor 82%

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: $46,125
• Closing costs: $5,535
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Grove Way #10 Clinton, CT	2.0	1.0	840	$2,450	$2.92	44d	1	0.50mi
170 Shore Rd Clinton, CT	2.0	1.0	944	$2,900	$3.07	44d	1	0.71mi

HOA detail

• Monthly dues: $621 · $7,452/yr
• Likely covers: trash

Listing history 6 events

1. 2026-06-18
   days on market $184,500 Coming Soon 6 DOM
2. 2026-06-17
   days on market $184,500 Coming Soon 5 DOM
3. 2026-06-16
   days on market $184,500 Coming Soon 4 DOM
4. 2026-06-15
   days on market $184,500 Coming Soon 3 DOM
5. 2026-06-12
   remarks 699-char remark
6. 2026-06-12
   listed $184,500 Coming Soon 1 DOM

ⓘ 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: $863 · $72/mo
• Projected year-2 tax: $2,406 · $200/mo
• Expected delta: +$1,543/yr (+$129/mo · 178.8%)

ⓘ 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 6/10 Major 7 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,561
• − Mortgage interest: −$10,335
• − Property taxes: −$863
• − Insurance: −$922
• − Repairs & maintenance: −$2,525
• − Management: −$2,525
• − HOA: −$7,452
• − Depreciation: −$5,367
• Taxable income: $1,571
• Est. tax owed @ 24.0%: −$377
• After-tax cash flow: $3,708/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: Westbrook School District
• NCES district ID: 0904980
• Math proficiency: 51% ▼ -16.00%
• Reading proficiency: 69% ▼ -9.00%
• Median HH income: $68,591
• Composite: 52.78/100
• National rank: #1540
• State rank: #49 of 153 in CT

Livability — Westbrook

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

Census & demographics

• Population (ZIP): 6,832

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Two or more races 15% Hispanic / Latino 14% Asian 2% Black 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 5% Estonian 3%
• Foreign-born: 14% · Canada, China, India
• Languages at home: 80% English-only · Spanish 12% Other Indo-European 4% Chinese 1%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.73%
• Current HPI: 200.2559
• 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

1 event — show timeline

• 2026-06-12 Coming Soon $184,500 Smart MLS

Property tax history

+3.8%/yr

Latest (2023): $863 · +2.7% YoY. Source: county tax records.