69 Fleming Rd · Manchester, CT 06042

$128,000

2 bd · 1.5 ba · 1,648 sqft · SingleFamily public records · 27 Days on market

Built 1988 0.32 ac lot ↓ 54% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Come see this charming Cape-Cod style home featuring two bedrooms, one and a half bathrooms, and 1648 square feet of living area. This property is situated on a flat lot within a residential community that is conveniently located near highway access and various amenities. Nearby attractions include Elicit Brewery, Buckland Hills Mall, and several dining options. Make this your new home today! Property to be sold as-is.

Key facts

• 0.32 acre lot
• 2 garage spots
• Built 1988

Property features AI

Finance

• Other: Nearby amenities include golf course, health club, park, private schools, public transportation and shopping/mall
• Financial info: Assessed value listed

Exterior

• Parking: Attached garage; Two garage spaces; Three total parking spaces (including driveway/off-street)
• Utilities: Public water connected; Public sewer connected
• Home design: Single-family home for sale
• Construction: Frame construction; Concrete foundation; White exterior color; Built with asphalt shingle roofing
• Exterior features: Level lot; Vinyl siding; Asphalt shingle roof; Private paved driveway; Paved off-street parking

Interior

• Bedrooms: Two bedrooms
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Hot water heating; Oil-fired heat; above-ground fuel tank; Domestic hot water
• Interior features: Six total rooms; One fireplace; Full basement with interior access, concrete floor and storage space

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $935 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $126k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 3.8% in Manchester — 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 (#59 in CT, #3,580 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: amenities D, commute F.
• Manchester School District (suburban): math 21% / reading 32% proficiency, ranked #130 of 153 in CT (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.8%/yr); 57 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• This rent runs 30% of the median local income ($92k/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 $885 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Risks & watch-outs

• 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 $126,080 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 1.80% ✓
• Cap rate: 15.06%
• Cash-on-cash: 31.32%
• DSCR: 2.39
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $359,264
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
94 BRENT Rd	0.38mi	3/1.0 (+1)	1,524 (-8%)	1mo	$320,000	$210	62
76 Turnbull Rd	0.33mi	3/2.5 (+1)	1,596 (-3%)	14mo	$394,900	$247	59
15 French Rd	0.46mi	3/2.0 (+1)	1,629 (-1%)	14mo	$355,000	$218	58
92 Columbus St	0.30mi	3/2.0 (+1)	1,546 (-6%)	12mo	$325,000	$210	58
333 Middle Tpke W	0.57mi	3/2.0 (+1)	1,661 (+1%)	9mo	$335,000	$202	58
30 Duval St	0.40mi	3/2.0 (+1)	1,527 (-7%)	7mo	$340,000	$223	56
83 Deerfield Dr	0.71mi	3/2.0 (+1)	1,587 (-4%)	2mo	$400,000	$252	52
226 Hilliard St	0.31mi	3/1.5 (+1)	1,428 (-13%)	8mo	$380,000	$266	52
162 Broad St	0.43mi	3/1.5 (+1)	1,406 (-15%)	13mo	$300,000	$213	39
116 Woodhill Rd	0.53mi	3/1.5 (+1)	1,410 (-14%)	13mo	$325,000	$230	36
100 Woodhill Rd	0.51mi	3/1.5 (+1)	1,410 (-14%)	14mo	$290,000	$206	36
27 Homestead St	0.63mi	3/2.0 (+1)	1,448 (-12%)	11mo	$301,000	$208	34

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 · 4.8% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 2.20×
• Total profit: $43,109
• Equity at exit: $19,085

10-year hold

• IRR: 36.7%
• Equity multiple: 4.70×
• Total profit: $132,463
• Equity at exit: $11,067

Cash invested: $35,840 (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 06042

• Rents YoY: 4.8%
• Active inventory: 57
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,304 high
• Mortgage (P&I): −$671
• Tax est. 1.5%: −$160 /mo · $1,920/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $935

Break-even live

Break-even rent $1,120

Max offer price $128,000

Occupancy floor 54%

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
527 Hilliard St Unit A Manchester, CT	2.0	1.5	1168	$2,100	$1.80	43d	1	0.39mi
68 Westerly St Manchester, CT	3.0	1.5	1400	$2,200	$1.57	44d	1	0.40mi
6 Oak Forest Dr #3 Manchester, CT	2.0	1.5	1150	$2,450	$2.13	21d	1	0.57mi
424 Middle Tpke W Manchester, CT	1.0–2.0	1.0–1.5	997	$2,150	$2.16	1d	7	0.60mi
184 Main St Unit D Manchester, CT	3.0	2.5	1860	$2,900	$1.56	3d	1	0.73mi
39 Buckland St Manchester, CT	1.0–2.0	1.0–2.0	995	$2,515	$2.53	1d	7	0.76mi
1500 Horizon Way Manchester, CT	2.0	1.0–2.0	1046	$2,950	$2.82	43d	20	0.87mi
1500 Horizon Way Manchester, CT	2.0	1.0–2.0	1046	$2,960	$2.83	1d	22	0.87mi
30 Catherines Way Manchester, CT	1.0–3.0	1.0–2.0	1102	$2,504	$2.27	1d	5	0.98mi
47 Bigelow St Manchester, CT	3.0	1.0	1500	$1,925	$1.28	43d	1	1.07mi
11 Strant St Manchester, CT	3.0	1.0	1982	$2,200	$1.11	43d	1	1.15mi
63 Ridge St Manchester, CT	3.0	1.5	1590	$2,050	$1.29	43d	1	1.26mi
10 Short St Manchester, CT	3.0	2.0	1400	$2,400	$1.71	43d	1	1.45mi
31 Nolan Cir #31 Manchester, CT	2.0	1.5	1240	$2,500	$2.02	1d	1	1.45mi
167 E Center St Manchester, CT	1.0–2.0	1.0–1.5	800	$2,199	$2.75	1d	2	1.49mi

Listing history 18 events

1. 2026-06-17
   status $128,000 Under Contract 27 DOM
2. 2026-06-17
   days on market $128,000 Under Contract - Continue to Show 27 DOM
3. 2026-06-16
   days on market $128,000 Under Contract - Continue to Show 26 DOM
4. 2026-06-15
   days on market $128,000 Under Contract - Continue to Show 25 DOM
5. 2026-06-13
   days on market $128,000 Under Contract - Continue to Show 23 DOM
6. 2026-06-10
   days on market $128,000 Under Contract - Continue to Show 20 DOM
7. 2026-06-09
   days on market $128,000 Under Contract - Continue to Show 19 DOM
8. 2026-06-08
   days on market $128,000 Under Contract - Continue to Show 18 DOM
9. 2026-06-07
   days on market $128,000 Under Contract - Continue to Show 17 DOM
10. 2026-06-03
    days on market $128,000 Under Contract - Continue to Show 13 DOM
11. 2026-06-02
    days on market $128,000 Under Contract - Continue to Show 12 DOM
12. 2026-06-01
    days on market $128,000 Under Contract - Continue to Show 11 DOM
13. 2026-05-31
    days on market $128,000 Under Contract - Continue to Show 10 DOM
14. 2026-05-21
    listed $128,000 Active
15. 2023-01-27
    historical
16. 2022-12-16
    historical Under Contract - Continue to Show
17. 2022-11-08
    price $250,000
18. 2022-11-01
    listed $278,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°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: $27,643
• − Mortgage interest: −$7,170
• − Property taxes: −$1,920
• − Insurance: −$640
• − Repairs & maintenance: −$2,211
• − Management: −$2,211
• − Depreciation: −$3,724
• Taxable income: $9,767
• Est. tax owed @ 24.0%: −$2,344
• After-tax cash flow: $8,879/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: Manchester School District
• NCES district ID: 0902310
• Math proficiency: 21% ▼ -8.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $63,391
• Composite: 24.54/100
• National rank: #7643
• State rank: #130 of 153 in CT

Livability — Manchester

• Score: 76/100
• State rank: #59
• US rank: #3580

Category grades

Amenities D Commute F 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: Manchester, CT
• County: Hartford County · 754,208 people
• City population: 59,635
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 23,822
• Household income: $91,892
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 730.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 56% Asian 14% Black 14% Hispanic / Latino 13% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Lithuanian 6% Romanian 6% Slovak 2%
• Foreign-born: 20% · Canada, Vietnam, Jamaica
• Languages at home: 72% English-only · Spanish 10% Other Indo-European 7% Other Asian/Pacific 3%

Political lean MEDSL · Capitol

• 2024 margin: Strong D (+21.9) · D 60.1% · R 38.2% · Other 1.7%
• All cycles: 2024: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.15%
• Current HPI: 196.8782
• Rent YoY: ▲ 4.80%
• 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

-54.0% since first listed

5 events — show timeline

• 2026-05-21 Listed $128,000 Smart MLS
• 2023-01-27 Listing Removed — Smart MLS
• 2022-12-16 Contingent — Smart MLS
• 2022-11-08 Price Changed $250,000 Smart MLS
• 2022-11-01 Listed $278,000 Smart MLS

Property tax history

+3.6%/yr

Latest (2025): $7,884 · +2.9% YoY. Source: county tax records.