91 Taftville Occum Rd · Norwich, CT 06360

$95,000

2 bd · 1.0 ba · 1,069 sqft · SingleFamily public records · 105 Days on market

Built 1890 7,405 sqft lot $89/sqft · 63% below area

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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
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors and savvy buyers! This partially renovated home offers a rare chance to step in and complete a high-upside project in a strong tourism and entertainment corridor. The property has already been gutted and partially reframed, saving significant demo time and allowing flexibility in final layout and design. Large windows and French doors bring in abundant natural light and overlook the spacious backyard. The exterior features a long private driveway, ample off-street parking, and a deep lot. Strategically located just minutes from Mohegan Sun and within close proximity to Foxwoods Resort Casino, the property benefits from steady year-round tourism, entertainment events, and regional attractions. Whether your strategy is to renovate and resell, customize and occupy, or explore income-producing potential, this property offers strong positioning in a high-demand area. Sold as-is. Buyers to conduct their own diligence.

Key facts

• Spacious backyard
• 7,405 sq ft lot
• Built 1890

Tags

• PARTIALLY RENOVATED HOME
• AMPLE OFF-STREET PARKING
• SPACIOUS BACKYARD
• LONG PRIVATE DRIVEWAY
• ABUNDANT NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 4.0% in Norwich — 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 81/100 on livability (#18 in CT, #1,391 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, commute A-; Watch: schools D+.
• Norwich School District (urban): math 19% / reading 29% proficiency, ranked #139 of 153 in CT (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 243 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• This rent runs 34% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $65k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; flood insurance adds $460/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 61% 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 $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.93% ✓
• Cap rate: 14.71%
• Cash-on-cash: 30.05%
• DSCR: 2.34
• GRM: 4.3

CMA / ARV

• ARV (median comp): $259,838
• List price: $95,000
• Delta: -63.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 Taftville Occum Rd	0.13mi	2/1.0	987 (-8%)	1mo	$255,000	$258	80
123 Taftville Occum Rd	0.15mi	3/1.0 (+1)	1,210 (+13%)	7mo	$205,000	$169	60
252 Old Canterbury Tpke Lot 94	0.75mi	2/2.0	980 (-8%)	2mo	$85,000	$87	46
252 Old Canterbury Tpke Lot 68	0.75mi	3/1.5 (+1)	980 (-8%)	0mo	$92,000	$94	44
252 Old Canterbury Tpke Lot 107	0.75mi	2/1.0	924 (-14%)	2mo	$50,000	$54	41
252 Old Canterbury Tpke Lot 33	0.75mi	2/1.0	924 (-14%)	4mo	$45,000	$49	40
28 Baltic Rd	0.51mi	3/1.0 (+1)	1,228 (+15%)	10mo	$270,000	$220	39
1 Bay St	0.66mi	3/1.0 (+1)	924 (-14%)	7mo	$235,000	$254	36
252 Old Canterbury Tpke Lot 88	0.75mi	2/2.0	924 (-14%)	6mo	$85,000	$92	34
252 Old Canterbury Tpke Lot 19	0.75mi	2/2.0	924 (-14%)	8mo	$109,900	$119	32
182 Kendall Rd	0.73mi	3/1.5 (+1)	1,176 (+10%)	12mo	$370,000	$315	32
252 Old Canterbury Tpke Lot 48	0.75mi	2/2.0	924 (-14%)	10mo	$119,000	$129	30

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 · 6.62% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.19×
• Total profit: $5,022
• Equity at exit: $14,165

10-year hold

• IRR: 18.8%
• Equity multiple: 3.01×
• Total profit: $53,441
• Equity at exit: $8,214

Cash invested: $26,600 (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 06360

• Home prices YoY: -19.9%
• Rents YoY: 6.6%
• Active inventory: 243
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,835 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$246 /mo · $2,946/yr
• Insurance: −$40
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $206

Break-even live

Break-even rent $1,574

Max offer price $95,000

Occupancy floor 84%

Sensitivity live

Price	-10% $260	-5% $233	+0% $206	+5% $179	+10% $152
Rent	-10% $61	-5% $133	+0% $206	+5% $278	+10% $351
Rate	-1.0pp $254	-0.5pp $230	base $206	+0.5pp $181	+1.0pp $156

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
88 Taftville-Occum Rd Unit C Norwich, CT	3.0	1.0	1000	$1,950	$1.95	45d	1	0.05mi

Listing history 23 events

1. 2026-06-02
   days on market $95,000 Active 105 DOM
2. 2026-06-01
   days on market $95,000 Active 104 DOM
3. 2026-05-31
   days on market $95,000 Active 103 DOM
4. 2026-05-30
   days on market $95,000 Active 102 DOM
5. 2026-04-03
   price $95,000 955-char remark

   Show marketing remark (955 chars)

   Attention investors and savvy buyers! This partially renovated home offers a rare chance to step in and complete a high-upside project in a strong tourism and entertainment corridor. The property has already been gutted and partially reframed, saving significant demo time and allowing flexibility in final layout and design. Large windows and French doors bring in abundant natural light and overlook the spacious backyard. The exterior features a long private driveway, ample off-street parking, and a deep lot. Strategically located just minutes from Mohegan Sun and within close proximity to Foxwoods Resort Casino, the property benefits from steady year-round tourism, entertainment events, and regional attractions. Whether your strategy is to renovate and resell, customize and occupy, or explore income-producing potential, this property offers strong positioning in a high-demand area. Sold as-is. Buyers to conduct their own diligence.

6. 2026-03-16
   price $115,000 955-char remark

   Show marketing remark (955 chars)

   Attention investors and savvy buyers! This partially renovated home offers a rare chance to step in and complete a high-upside project in a strong tourism and entertainment corridor. The property has already been gutted and partially reframed, saving significant demo time and allowing flexibility in final layout and design. Large windows and French doors bring in abundant natural light and overlook the spacious backyard. The exterior features a long private driveway, ample off-street parking, and a deep lot. Strategically located just minutes from Mohegan Sun and within close proximity to Foxwoods Resort Casino, the property benefits from steady year-round tourism, entertainment events, and regional attractions. Whether your strategy is to renovate and resell, customize and occupy, or explore income-producing potential, this property offers strong positioning in a high-demand area. Sold as-is. Buyers to conduct their own diligence.

7. 2026-02-17
   listed $99,000 Active 955-char remark

   Show marketing remark (955 chars)

   Attention investors and savvy buyers! This partially renovated home offers a rare chance to step in and complete a high-upside project in a strong tourism and entertainment corridor. The property has already been gutted and partially reframed, saving significant demo time and allowing flexibility in final layout and design. Large windows and French doors bring in abundant natural light and overlook the spacious backyard. The exterior features a long private driveway, ample off-street parking, and a deep lot. Strategically located just minutes from Mohegan Sun and within close proximity to Foxwoods Resort Casino, the property benefits from steady year-round tourism, entertainment events, and regional attractions. Whether your strategy is to renovate and resell, customize and occupy, or explore income-producing potential, this property offers strong positioning in a high-demand area. Sold as-is. Buyers to conduct their own diligence.

8. 2024-12-12
   soldstatus $65,000 Closed 490-char remark

   Show marketing remark (490 chars)

   Here's your chance to bring new life to a once-charming Cape Cod home! This property features a spacious backyard, perfect for outdoor activities and entertaining. The house does need work, but with the right vision, you can transform it into your dream home or an ideal rental property. Whether you're looking to create a cozy residence or a smart investment, this home provides the flexibility to customize it exactly to your taste. Don't miss out on this hidden gem with great potential.

9. 2024-11-25
   status Under Contract 490-char remark

   Show marketing remark (490 chars)

   Here's your chance to bring new life to a once-charming Cape Cod home! This property features a spacious backyard, perfect for outdoor activities and entertaining. The house does need work, but with the right vision, you can transform it into your dream home or an ideal rental property. Whether you're looking to create a cozy residence or a smart investment, this home provides the flexibility to customize it exactly to your taste. Don't miss out on this hidden gem with great potential.

10. 2024-11-25
    status Active 490-char remark

    Show marketing remark (490 chars)

    Here's your chance to bring new life to a once-charming Cape Cod home! This property features a spacious backyard, perfect for outdoor activities and entertaining. The house does need work, but with the right vision, you can transform it into your dream home or an ideal rental property. Whether you're looking to create a cozy residence or a smart investment, this home provides the flexibility to customize it exactly to your taste. Don't miss out on this hidden gem with great potential.

11. 2024-11-17
    status Under Contract 490-char remark

    Show marketing remark (490 chars)

    Here's your chance to bring new life to a once-charming Cape Cod home! This property features a spacious backyard, perfect for outdoor activities and entertaining. The house does need work, but with the right vision, you can transform it into your dream home or an ideal rental property. Whether you're looking to create a cozy residence or a smart investment, this home provides the flexibility to customize it exactly to your taste. Don't miss out on this hidden gem with great potential.

12. 2024-11-11
    price $80,000 490-char remark

    Show marketing remark (490 chars)

    Here's your chance to bring new life to a once-charming Cape Cod home! This property features a spacious backyard, perfect for outdoor activities and entertaining. The house does need work, but with the right vision, you can transform it into your dream home or an ideal rental property. Whether you're looking to create a cozy residence or a smart investment, this home provides the flexibility to customize it exactly to your taste. Don't miss out on this hidden gem with great potential.

13. 2024-11-11
    status Active 490-char remark

    Show marketing remark (490 chars)

    Here's your chance to bring new life to a once-charming Cape Cod home! This property features a spacious backyard, perfect for outdoor activities and entertaining. The house does need work, but with the right vision, you can transform it into your dream home or an ideal rental property. Whether you're looking to create a cozy residence or a smart investment, this home provides the flexibility to customize it exactly to your taste. Don't miss out on this hidden gem with great potential.

14. 2024-09-11
    historical Under Contract - Continue to Show 490-char remark

    Show marketing remark (490 chars)

    Here's your chance to bring new life to a once-charming Cape Cod home! This property features a spacious backyard, perfect for outdoor activities and entertaining. The house does need work, but with the right vision, you can transform it into your dream home or an ideal rental property. Whether you're looking to create a cozy residence or a smart investment, this home provides the flexibility to customize it exactly to your taste. Don't miss out on this hidden gem with great potential.

15. 2024-09-08
    price $90,000 490-char remark

    Show marketing remark (490 chars)

    Here's your chance to bring new life to a once-charming Cape Cod home! This property features a spacious backyard, perfect for outdoor activities and entertaining. The house does need work, but with the right vision, you can transform it into your dream home or an ideal rental property. Whether you're looking to create a cozy residence or a smart investment, this home provides the flexibility to customize it exactly to your taste. Don't miss out on this hidden gem with great potential.

16. 2024-08-30
    listed $100,000 Active 490-char remark

    Show marketing remark (490 chars)

    Here's your chance to bring new life to a once-charming Cape Cod home! This property features a spacious backyard, perfect for outdoor activities and entertaining. The house does need work, but with the right vision, you can transform it into your dream home or an ideal rental property. Whether you're looking to create a cozy residence or a smart investment, this home provides the flexibility to customize it exactly to your taste. Don't miss out on this hidden gem with great potential.

17. 2022-11-17
    soldstatus $20,000
18. 2019-01-07
    soldstatus $33,000 Closed
19. 2018-12-13
    historical
20. 2018-12-06
    price $29,900
21. 2018-11-13
    price $39,900
22. 2018-10-13
    price $49,900
23. 2018-09-12
    listed $58,300 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: $2,946 · $246/mo
• Projected year-2 tax: $2,946 · $246/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $22,016
• − Mortgage interest: −$5,321
• − Property taxes: −$2,946
• − Insurance: −$6,000
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$2,764
• Taxable income: $1,463
• Est. tax owed @ 24.0%: −$351
• After-tax cash flow: $2,118/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: Norwich School District
• NCES district ID: 0903120
• Math proficiency: 19% ▼ -8.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $50,813
• Composite: 21.27/100
• National rank: #8395
• State rank: #139 of 153 in CT

Livability — Norwich

• Score: 81/100
• State rank: #18
• US rank: #1391

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwich, CT
• County: New London County · 147,197 people
• City population: 37,216
• Metro: Norwich-New London, CT
• Population (ZIP): 37,216
• Household income: $65,539
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 1643.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 56% Hispanic / Latino 21% Two or more races 12% Black 10% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Cuban 1% Dominican 3%
• Common ancestry: Lithuanian 8% Romanian 5% Hispanic 4%
• Foreign-born: 15% · Canada, China
• Languages at home: 77% English-only · Spanish 11% French/Haitian/Cajun 4% Chinese 3%

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: ▼ -65.27%
• Current HPI: 261.8575
• Rent YoY: ▲ 6.62%
• Metro: Norwich-New London, 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

+63.0% since first listed

19 events — show timeline

• 2026-04-03 Price Changed $95,000 Smart MLS
• 2026-03-16 Price Changed $115,000 Smart MLS
• 2026-02-17 Listed $99,000 Smart MLS
• 2024-12-12 Sold (MLS) $65,000 Smart MLS
• 2024-11-25 Pending — Smart MLS
• 2024-11-25 Relisted — Smart MLS
• 2024-11-17 Pending — Smart MLS
• 2024-11-11 Price Changed $80,000 Smart MLS
• 2024-11-11 Relisted — Smart MLS
• 2024-09-11 Contingent — Smart MLS
• 2024-09-08 Price Changed $90,000 Smart MLS
• 2024-08-30 Listed $100,000 Smart MLS
• 2022-11-17 Sold (Public Records) $20,000 Public Records
• 2019-01-07 Sold (MLS) $33,000 Smart MLS
• 2018-12-13 Listing Removed — Smart MLS
• 2018-12-06 Price Changed $29,900 Smart MLS
• 2018-11-13 Price Changed $39,900 Smart MLS
• 2018-10-13 Price Changed $49,900 Smart MLS
• 2018-09-12 Listed $58,300 Smart MLS

Property tax history

-0.0%/yr

Latest (2023): $2,946 · -0.8% YoY. Source: county tax records.