593 Mohegan Avenue Pkwy · Waterford, CT 06375

$349,000

4 bd · 2.0 ba · 2,067 sqft · SingleFamily public records · 80 Days on market

Built 1952 0.37 ac lot $169/sqft · 21% below area Est $442k · 21% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.2/30.0
• Schools +4.6/10.0
• Livability +3.8/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Possible in-law if needed! 4 bedrooms, 2 full baths, formal dining area/in law living room, large kitchen and easy access to I-395, New London, shopping. Owner relocating, grab your favorite realtor, come take a look, and make an offer!!!

Key facts

• 0.37 acre lot
• 6 parking spots
• Built 1952

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $349k.

Deal economics

• At list price, monthly cash flow is $-260 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $303k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (28.0% below list).
• Recommended offer: $251k (28.0% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.2% in Waterford — 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 76/100 on livability (#50 in CT, #3,268 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Waterford School District (suburban): math 45% / reading 58% proficiency, ranked #75 of 153 in CT (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Quaker Hill Elementary School (math 42% / reading 52%, grade D-, #256 of 553 statewide, top 48%, 334 students, 29% FRL); Clark Lane Middle School (math 45% / reading 59%, grade C+, #73 of 175 statewide, top 43%, 549 students, 32% FRL); Waterford High School (math 42% / reading 67%, grade C-, #63 of 194 statewide, top 39%, 735 students, 28% FRL) — zoned schools average 30% FRL vs 14% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 12 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 19y ago; this cycle's ask has dropped $26k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $250k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $251,321 (28.0% 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 80 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.20%
• DSCR: 0.86
• GRM: 11.6

CMA / ARV

• ARV (median comp): $442,439
• List price: $349,000
• Delta: -21.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Old Colchester Rd	0.61mi	4/2.0	2,142 (+4%)	8mo	$385,000	$180	59
6 Rosemary Ln	0.16mi	4/2.0	1,784 (-14%)	16mo	$450,000	$252	56
1 Best View Rd	0.75mi	4/2.5	2,119 (+2%)	10mo	$530,000	$250	51
63 Old Colchester Rd	0.66mi	3/2.0 (-1)	1,892 (-8%)	18mo	$425,000	$225	36

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: -21.7%
• Equity multiple: 0.25×
• Total profit: $-73,198
• Equity at exit: $52,037

10-year hold

• IRR: -15.5%
• Equity multiple: 0.13×
• Total profit: $-85,350
• Equity at exit: $30,175

Cash invested: $97,720 (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 06375

• Home prices YoY: -28.5%
• Active inventory: 12
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,513 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$270 /mo · $3,242/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $-260

Break-even live

Break-even rent $2,843

Max offer price $303,011

Occupancy floor —

Sensitivity live

Price	-10% $-63	-5% $-162	+0% $-260	+5% $-359	+10% $-458
Rent	-10% $-459	-5% $-360	+0% $-260	+5% $-161	+10% $-62
Rate	-1.0pp $-85	-0.5pp $-172	base $-260	+0.5pp $-351	+1.0pp $-443

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $349,000 Active 80 DOM
2. 2026-06-19
   days on market $349,000 Active 78 DOM
3. 2026-06-18
   days on market $349,000 Active 77 DOM
4. 2026-06-17
   days on market $349,000 Active 76 DOM
5. 2026-06-16
   days on market $349,000 Active 75 DOM
6. 2026-06-15
   days on market $349,000 Active 74 DOM
7. 2026-06-14
   days on market $349,000 Active 72 DOM
8. 2026-06-13
   days on market $349,000 Active 71 DOM
9. 2026-06-10
   days on market $349,000 Active 69 DOM
10. 2026-06-09
    days on market $349,000 Active 68 DOM
11. 2026-06-08
    days on market $349,000 Active 67 DOM
12. 2026-06-07
    days on market $349,000 Active 66 DOM
13. 2026-06-05
    days on market $349,000 Active 63 DOM
14. 2026-06-03
    days on market $349,000 Active 62 DOM
15. 2026-06-02
    days on market $349,000 Active 61 DOM
16. 2026-06-01
    days on market $349,000 Active 60 DOM
17. 2026-05-31
    days on market $349,000 Active 59 DOM
18. 2026-05-30
    days on market $349,000 Active 58 DOM
19. 2026-05-07
    price $365,000 238-char remark

    Show marketing remark (238 chars)

    Possible in-law if needed! 4 bedrooms, 2 full baths, formal dining area/in law living room, large kitchen and easy access to I-395, New London, shopping. Owner relocating, grab your favorite realtor, come take a look, and make an offer!!!

20. 2026-04-29
    status Active 238-char remark

    Show marketing remark (238 chars)

    Possible in-law if needed! 4 bedrooms, 2 full baths, formal dining area/in law living room, large kitchen and easy access to I-395, New London, shopping. Owner relocating, grab your favorite realtor, come take a look, and make an offer!!!

21. 2026-04-09
    historical 238-char remark

    Show marketing remark (238 chars)

    Possible in-law if needed! 4 bedrooms, 2 full baths, formal dining area/in law living room, large kitchen and easy access to I-395, New London, shopping. Owner relocating, grab your favorite realtor, come take a look, and make an offer!!!

22. 2026-03-14
    listed $375,000 Active 238-char remark

    Show marketing remark (238 chars)

    Possible in-law if needed! 4 bedrooms, 2 full baths, formal dining area/in law living room, large kitchen and easy access to I-395, New London, shopping. Owner relocating, grab your favorite realtor, come take a look, and make an offer!!!

23. 2026-03-02
    historical $375,000 238-char remark

    Show marketing remark (238 chars)

    Possible in-law if needed! 4 bedrooms, 2 full baths, formal dining area/in law living room, large kitchen and easy access to I-395, New London, shopping. Owner relocating, grab your favorite realtor, come take a look, and make an offer!!!

24. 2022-06-30
    historical 373-char remark

    Show marketing remark (373 chars)

    Large Cape situated on a lot with quick commuting access to I-95, I-395, RT-32 Great access to Coast Guard Academy, Connecticut College, as well as to a variety of shopping in surrounding towns of Montville, New London, and Waterford. This 4 Bedroom/ 2 Bath home has a NEW boiler, NEW well pump and updated electrical. Bring your personal touch and make this your new HOME!

25. 2022-06-29
    soldstatus $250,000 Closed 373-char remark

    Show marketing remark (373 chars)

    Large Cape situated on a lot with quick commuting access to I-95, I-395, RT-32 Great access to Coast Guard Academy, Connecticut College, as well as to a variety of shopping in surrounding towns of Montville, New London, and Waterford. This 4 Bedroom/ 2 Bath home has a NEW boiler, NEW well pump and updated electrical. Bring your personal touch and make this your new HOME!

26. 2022-05-06
    status Active 373-char remark

    Show marketing remark (373 chars)

    Large Cape situated on a lot with quick commuting access to I-95, I-395, RT-32 Great access to Coast Guard Academy, Connecticut College, as well as to a variety of shopping in surrounding towns of Montville, New London, and Waterford. This 4 Bedroom/ 2 Bath home has a NEW boiler, NEW well pump and updated electrical. Bring your personal touch and make this your new HOME!

27. 2022-03-01
    listed $250,000 Active 373-char remark

    Show marketing remark (373 chars)

    Large Cape situated on a lot with quick commuting access to I-95, I-395, RT-32 Great access to Coast Guard Academy, Connecticut College, as well as to a variety of shopping in surrounding towns of Montville, New London, and Waterford. This 4 Bedroom/ 2 Bath home has a NEW boiler, NEW well pump and updated electrical. Bring your personal touch and make this your new HOME!

28. 2019-01-14
    price $70,000
29. 2019-01-11
    soldstatus $58,000 Closed
30. 2018-12-20
    historical
31. 2018-12-16
    status Active
32. 2018-12-16
    historical
33. 2018-11-08
    price $85,000
34. 2018-10-31
    price $105,000
35. 2018-10-17
    price $109,000
36. 2018-10-03
    price $135,000
37. 2018-10-01
    status Active
38. 2018-10-01
    historical
39. 2018-08-28
    price $175,000
40. 2018-08-20
    price $135,000
41. 2018-07-18
    price $145,000
42. 2018-05-16
    listed $155,000 Active
43. 2018-02-09
    soldstatus $180,000
44. 2017-05-02
    historical
45. 2017-04-19
    listed $200,000
46. 2016-05-28
    historical
47. 2016-04-25
    listed $190,000
48. 2016-03-13
    historical
49. 2015-09-17
    listed $175,000
50. 2015-09-03
    historical

ⓘ 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: $3,242 · $270/mo
• Projected year-2 tax: $5,355 · $446/mo
• Expected delta: +$2,113/yr (+$176/mo · 65.2%)

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

Taxation est. · year 1

• Rental income: $30,159
• − Mortgage interest: −$19,549
• − Property taxes: −$3,242
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,413
• − Management: −$2,413
• − Depreciation: −$10,153
• Taxable loss: −$9,356
• Est. tax savings @ 24.0%: +$2,245
• After-tax cash flow: $-879/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: Waterford School District
• NCES district ID: 0904860
• Math proficiency: 45% ▼ -18.00%
• Reading proficiency: 58% ▼ -12.00%
• Median HH income: $74,686
• Composite: 46.34/100
• National rank: #2466
• State rank: #75 of 153 in CT

Livability — Waterford

• Score: 76/100
• State rank: #50
• US rank: #3268

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 15,966
• Population (ZIP): 3,667

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 6% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Common ancestry: Lithuanian 10% Romanian 7% Slovak 4%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Other Asian/Pacific 2% Spanish 2% Arabic 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: ▼ -78.24%
• Current HPI: 196.1405
• 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

+192.0% since first listed

47 events — show timeline

• 2026-05-07 Price Changed $365,000 Smart MLS
• 2026-04-29 Relisted — Smart MLS
• 2026-04-09 Listing Removed — Smart MLS
• 2026-03-14 Listed $375,000 Smart MLS
• 2026-03-02 Coming Soon $375,000 Smart MLS
• 2022-06-30 Listing Removed — Smart MLS
• 2022-06-29 Sold (MLS) $250,000 Smart MLS
• 2022-05-06 Relisted — Smart MLS
• 2022-03-01 Listed $250,000 Smart MLS
• 2019-01-14 Price Changed $70,000 Smart MLS
• 2019-01-11 Sold (MLS) $58,000 Smart MLS
• 2018-12-20 Listing Removed — Smart MLS
• 2018-12-16 Relisted — Smart MLS
• 2018-12-16 Listing Removed — Smart MLS
• 2018-11-08 Price Changed $85,000 Smart MLS
• 2018-10-31 Price Changed $105,000 Smart MLS
• 2018-10-17 Price Changed $109,000 Smart MLS
• 2018-10-03 Price Changed $135,000 Smart MLS
• 2018-10-01 Relisted — Smart MLS
• 2018-10-01 Listing Removed — Smart MLS
• 2018-08-28 Price Changed $175,000 Smart MLS
• 2018-08-20 Price Changed $135,000 Smart MLS
• 2018-07-18 Price Changed $145,000 Smart MLS
• 2018-05-16 Listed $155,000 Smart MLS
• 2018-02-09 Sold (Public Records) $180,000 Public Records
• 2017-05-02 Listing Removed — Smart MLS
• 2017-04-19 Listed $200,000 Smart MLS
• 2016-05-28 Listing Removed — Smart MLS
• 2016-04-25 Listed $190,000 Smart MLS
• 2016-03-13 Listing Removed — Smart MLS
• 2015-09-17 Listed $175,000 Smart MLS
• 2015-09-03 Listing Removed — Smart MLS
• 2014-11-24 Listed $175,000 Smart MLS
• 2014-11-11 Listing Removed — Smart MLS
• 2014-10-03 Listed $179,900 Smart MLS
• 2014-04-30 Listing Removed — Smart MLS
• 2013-05-06 Listed $165,000 Smart MLS
• 2011-11-17 Sold (MLS) $170,000 Smart MLS
• 2011-08-01 Listed $179,900 Smart MLS
• 2008-12-24 Sold (MLS) $165,000 Smart MLS
• 2008-11-04 Listed $169,900 Smart MLS
• 2007-12-01 Listing Removed — Smart MLS
• 2007-07-05 Listed $236,000 Smart MLS
• 2007-06-30 Listing Removed — Smart MLS
• 2007-01-30 Listed $268,900 Smart MLS
• 2005-04-07 Sold (Public Records) $230,000 Public Records
• 2004-09-14 Sold (Public Records) $125,000 Public Records

Property tax history

+0.7%/yr

Latest (2023): $3,242 · +7.3% YoY. Source: county tax records.