28 Circle Dr · Windham, CT 06256

$165,500

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 48 Days on market

Built 2001 $144/sqft · 73% above area ↓ 2% since listing

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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 +27.8/30.0
• DSCR +9.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Appreciation +4.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks

Completely remodeled 3-bedroom, 2-bath mobile home in North Windham! This move-in-ready home has been thoughtfully updated throughout and features a brand-new roof, new appliances, and modern finishes from top to bottom. The interior offers a bright and functional layout with updated flooring, refreshed kitchen and bathrooms, and comfortable living space. With recent upgrades throughout, this home provides a great opportunity for affordable, low-maintenance living. Conveniently located close to shopping, restaurants, and local amenities.

Key facts

• Brand new roof
• New appliances
• Refreshed bathrooms

Tags

• REMODELED MOBILE HOME
• BRAND NEW ROOF
• NEW APPLIANCES
• UPDATED FLOORING
• REFRESHED KITCHEN
• REFRESHED BATHROOMS

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Above-ground fuel tank
• Home design: Single-family home
• Construction: Frame construction; Asphalt shingle roof; No basement
• Exterior features: Level lot; Vinyl siding

Interior

• Kitchen: Gas range; Microwave; Range hood; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms (main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating (propane fuel); Ceiling fans; Electric hot water
• Interior features: Ceiling fans
• Laundry & utility: Washer and electric dryer in main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $166k.

Deal economics

• At list price, monthly cash flow is $502 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $166k).
• Recommended offer: $161k (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.
• Windham School District (town): math 15% / reading 25% proficiency, ranked #143 of 153 in CT (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 18 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).

Forward outlook

• In year one you build about $904 of equity ($1k loan paydown + $-240 appreciation (-0.1% local appreciation)).
• At projected returns (-0.1% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Recommended offer $160,535 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.18% ✓
• Cap rate: 9.93%
• Cash-on-cash: 13.01%
• DSCR: 1.58
• GRM: 7.1

CMA / ARV

• ARV (median comp): $95,555
• List price: $165,500
• Delta: 73.20%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-0.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.56×
• Total profit: $25,985
• Equity at exit: $46,860

10-year hold

• IRR: 16.7%
• Equity multiple: 2.82×
• Total profit: $84,114
• Equity at exit: $55,382

Cash invested: $46,340 (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 06256

• Home prices YoY: -0.1%
• Active inventory: 18
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,945 medium
• Mortgage (P&I): −$868
• Tax from tax record: −$97 /mo · $1,169/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $502

Break-even live

Break-even rent $1,309

Max offer price $165,500

Occupancy floor 69%

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: $41,375
• Closing costs: $4,965
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 Foster Dr Willimantic, CT	2.0	1.0–1.5	687	$1,830	$2.66	2d	1	1.09mi
466 Ash St Willimantic, CT	2.0	1.5	900	$1,300	$1.44	2d	1	1.29mi
15 Patriots Sq Mansfield Center, CT	2.0	1.5	1276	$2,600	$2.04	14d	1	1.30mi

Listing history 21 events

1. 2026-06-18
   days on market $165,500 Active 48 DOM
2. 2026-06-17
   days on market $165,500 Active 47 DOM
3. 2026-06-16
   days on market $165,500 Active 46 DOM
4. 2026-06-15
   days on market $165,500 Active 45 DOM
5. 2026-06-14
   days on market $165,500 Active 43 DOM
6. 2026-06-10
   days on market $165,500 Active 40 DOM
7. 2026-06-09
   days on market $165,500 Active 39 DOM
8. 2026-06-09
   status $165,500 Active 38 DOM
9. 2026-06-08
   days on market $165,500 Under Contract - Continue to Show 38 DOM
10. 2026-06-07
    days on market $165,500 Under Contract - Continue to Show 37 DOM
11. 2026-06-05
    days on market $165,500 Under Contract - Continue to Show 34 DOM
12. 2026-06-03
    days on market $165,500 Under Contract - Continue to Show 33 DOM
13. 2026-06-02
    days on market $165,500 Under Contract - Continue to Show 32 DOM
14. 2026-06-01
    days on market $165,500 Under Contract - Continue to Show 31 DOM
15. 2026-05-31
    days on market $165,500 Under Contract - Continue to Show 30 DOM
16. 2026-05-31
    days on market $165,500 Under Contract - Continue to Show 29 DOM
17. 2026-05-01
    listed $165,500 Active 543-char remark
18. 2026-04-09
    historical
19. 2026-01-30
    status Active
20. 2026-01-29
    historical
21. 2025-11-09
    listed $168,500 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: $1,169 · $97/mo
• Projected year-2 tax: $2,355 · $196/mo
• Expected delta: +$1,186/yr (+$99/mo · 101.5%)

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

Taxation est. · year 1

• Rental income: $23,340
• − Mortgage interest: −$9,271
• − Property taxes: −$1,169
• − Insurance: −$828
• − Repairs & maintenance: −$1,867
• − Management: −$1,867
• − Depreciation: −$4,815
• Taxable income: $3,524
• Est. tax owed @ 24.0%: −$846
• After-tax cash flow: $5,181/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: Windham School District
• NCES district ID: 0905190
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $40,956
• Composite: 17.01/100
• National rank: #9128
• State rank: #143 of 153 in CT

Livability — Windham

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

Census & demographics

• Population (ZIP): 1,796

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 15% Two or more races 4% Black 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 5%
• Common ancestry: Romanian 18% Lithuanian 11% Russian 2%
• Foreign-born: 4% · Canada
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 2%

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: ▼ -0.14%
• Current HPI: 269.7593
• 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

-1.8% since first listed

7 events — show timeline

• 2026-06-08 Relisted — Smart MLS
• 2026-05-21 Contingent — Smart MLS
• 2026-05-01 Listed $165,500 Smart MLS
• 2026-04-09 Listing Removed — Smart MLS
• 2026-01-30 Relisted — Smart MLS
• 2026-01-29 Listing Removed — Smart MLS
• 2025-11-09 Listed $168,500 Smart MLS

Property tax history

-1.0%/yr

Latest (2023): $1,169 · +2.6% YoY. Source: county tax records.