9 Nordland Ave · Portland, CT 06416

$150,000

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 5 Days on market

Built 1948 0.53 ac lot Est $269k · 44% under

---

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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +4.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special - Cash Sale Only Opportunity awaits at this property located on a quiet cul-de-sac in Cromwell, near the Connecticut River. This single-family home is in distressed condition and is being offered primarily for land value. Ideal for investors, builders, or flippers looking for their next project. The property is being sold strictly as-is, where-is. Seller will make no repairs, improvements, or concessions. The home will not qualify for conventional financing; cash purchase only. Buyer to perform all due diligence. Property may have structural, mechanical, or environmental issues. Utilities condition is unknown and may not be operational. Located in a desirable area with prox

Key facts

• Quiet cul-de-sac
• Land value
• 0.53 acre lot

Tags

• QUIET CUL-DE-SAC
• NEAR THE CONNECTICUT RIVER
• LAND VALUE
• POTENTIAL FOR REDEVELOPMENT

Property features AI

Exterior

• Parking: Attached garage for two cars
• Utilities: Public water connected; Public sewer connected
• Home design: Single-family home
• Construction: Frame construction; Concrete foundation; Gable roof; Red exterior color
• Exterior features: Lightly wooded lot on a cul-de-sac; Shingle and clapboard siding

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator
• Bedrooms: Two bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heating (oil-fired)
• Interior features: Five total rooms; One fireplace; Full, unfinished basement with concrete floor and hatchway access; Attic with hatch access
• Laundry & utility: Washer; Oil-fired hot water heating (fuel tank located in basement)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 10.5% vs local median 2.7% in Portland — 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 (#57 in CT, #3,527 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Cromwell School District (suburban): math 51% / reading 58% proficiency, ranked #63 of 153 in CT (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 58 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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 $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.43% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.89%
• DSCR: 1.66
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $269,100
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Wightman Pl	0.19mi	2/1.0	912 (+1%)	23mo	$261,000	$286	69
4 Carroll Pl	0.44mi	2/1.0	876 (-3%)	24mo	$180,000	$205	55
27 West St	0.50mi	2/1.0	1,032 (+15%)	0mo	$317,500	$308	52
25 Nooks Hill Rd	0.44mi	2/1.0	785 (-13%)	14mo	$235,000	$299	47

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: 5.5%
• Equity multiple: 1.21×
• Total profit: $9,012
• Equity at exit: $22,365

10-year hold

• IRR: 15.0%
• Equity multiple: 2.22×
• Total profit: $51,083
• Equity at exit: $12,969

Cash invested: $42,000 (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 06416

• Home prices YoY: -16.0%
• Active inventory: 58
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,152 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$330 /mo · $3,955/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $521

Break-even live

Break-even rent $1,492

Max offer price $150,000

Occupancy floor 71%

Sensitivity live

Price	-10% $606	-5% $564	+0% $521	+5% $479	+10% $436
Rent	-10% $351	-5% $436	+0% $521	+5% $606	+10% $691
Rate	-1.0pp $597	-0.5pp $559	base $521	+0.5pp $482	+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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
548 Main St Unit 2 Portland, CT	3.0	1.0	1005	$1,752	$1.74	2d	1	1.34mi
548 Main St Unit 2 Portland, CT	3.0	1.0	1005	$1,752	$1.74	24d	1	1.34mi

Listing history 5 events

1. 2026-06-08
   status $150,000 Under Contract 5 DOM
2. 2026-06-07
   days on market $150,000 Active 5 DOM
3. 2026-06-05
   days on market $150,000 Active 2 DOM
4. 2026-06-02
   remarks 699-char remark
5. 2026-06-02
   listed $150,000 Active 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: $3,955 · $330/mo
• Projected year-2 tax: $3,955 · $330/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $25,822
• − Mortgage interest: −$8,402
• − Property taxes: −$3,955
• − Insurance: −$750
• − Repairs & maintenance: −$2,066
• − Management: −$2,066
• − Depreciation: −$4,364
• Taxable income: $4,220
• Est. tax owed @ 24.0%: −$1,013
• After-tax cash flow: $5,242/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: Cromwell School District
• NCES district ID: 0900990
• Math proficiency: 51% ▼ -7.00%
• Reading proficiency: 58% ▼ -9.00%
• Median HH income: $80,252
• Composite: 49.39/100
• National rank: #2013
• State rank: #63 of 153 in CT

Livability — Portland

• Score: 76/100
• State rank: #57
• US rank: #3527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Middlesex County · 63,941 people
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 14,334
• Household income: $110,596
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 188.0

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 12% Hispanic / Latino 9% Asian 6% Black 6%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 11% Lithuanian 5% Italian 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% Other Indo-European 2% Russian/Polish/Slavic 2%

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: ▼ -49.38%
• Current HPI: 259.9702
• Rent YoY: —
• Metro: Hartford-East Hartford-Middletown, 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

1 event — show timeline

• 2026-06-02 Listed $150,000 Smart MLS

Property tax history

-1.8%/yr

Latest (2022): $3,955 · +0.0% YoY. Source: county tax records.