39 Latimer Dr · Niantic, CT 06333

$395,000

3 bd · 2.0 ba · 1,184 sqft · SingleFamily public records · 127 Days on market

Built 1970 0.49 ac lot $334/sqft · 16% above area Est $522k · 24% under

---

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 +6.8/30.0
• Schools +5.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors take a note! A 3bed, 2bath raised ranch set on a nice neighborhood.Lower level offers a large family room w/ gas fireplace. Outdoors enjoy a large yard, perfect for gatherings, gardening, or play. Conveniently located by shopping centers, golf course & highways. Sold as is.

Key facts

• Highways
• Large family room
• Shopping centers

Tags

• LARGE FAMILY ROOM
• GAS FIREPLACE
• LARGE YARD
• SHOPPING CENTERS
• GOLF COURSE
• HIGHWAYS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $395k.

Deal economics

• At list price, monthly cash flow is $-609 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (27.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (36.1% below list).
• Recommended offer: $252k (36.1% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 3.0% in Niantic — 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 78/100 on livability (#35 in CT, #2,462 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: cost of living D+, amenities F, commute F.
• East Lyme School District (rural): math 55% / reading 68% proficiency, ranked #42 of 153 in CT (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 58 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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 $230k; list at $395k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $252,471 (36.1% 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 127 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — 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 A-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: 0.64% ✗
• Cap rate: 4.44%
• Cash-on-cash: -6.61%
• DSCR: 0.71
• GRM: 13.0

CMA / ARV

• ARV (median comp): $521,667
• List price: $395,000
• Delta: -24.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Upper Pattagansett Rd	0.64mi	3/2.0	1,264 (+7%)	12mo	$440,000	$348	49
10 Filosi Rd	0.70mi	3/1.0	1,056 (-11%)	6mo	$359,900	$341	40

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: -27.8%
• Equity multiple: 0.07×
• Total profit: $-102,859
• Equity at exit: $58,896

10-year hold

• IRR: -26.3%
• Equity multiple: -0.26×
• Total profit: $-139,704
• Equity at exit: $34,152

Cash invested: $110,600 (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 06333

• Home prices YoY: -20.7%
• Active inventory: 58
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,525 medium
• Mortgage (P&I): −$2,071
• Tax from tax record: −$368 /mo · $4,415/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $-609

Break-even live

Break-even rent $3,296

Max offer price $287,348

Occupancy floor —

Sensitivity live

Price	-10% $-386	-5% $-498	+0% $-609	+5% $-721	+10% $-833
Rent	-10% $-809	-5% $-709	+0% $-609	+5% $-510	+10% $-410
Rate	-1.0pp $-410	-0.5pp $-509	base $-609	+0.5pp $-712	+1.0pp $-816

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Upper Pattagansett Rd #25 East Lyme, CT	2.0	2.5	1228	$2,300	$1.87	44d	1	0.70mi
231 Boston Post Rd #9 East Lyme, CT	2.0	1.5	1018	$2,300	$2.26	44d	1	0.80mi
231 Boston Post Rd #9 East Lyme, CT	2.0	1.5	1088	$2,300	$2.11	13d	1	0.80mi

Listing history 17 events

1. 2026-05-13
   status Under Contract 288-char remark

   Show marketing remark (288 chars)

   Investors take a note! A 3bed, 2bath raised ranch set on a nice neighborhood.Lower level offers a large family room w/ gas fireplace. Outdoors enjoy a large yard, perfect for gatherings, gardening, or play. Conveniently located by shopping centers, golf course & highways. Sold as is.

2. 2026-05-07
   status Active 288-char remark

   Show marketing remark (288 chars)

   Investors take a note! A 3bed, 2bath raised ranch set on a nice neighborhood.Lower level offers a large family room w/ gas fireplace. Outdoors enjoy a large yard, perfect for gatherings, gardening, or play. Conveniently located by shopping centers, golf course & highways. Sold as is.

3. 2026-04-24
   historical Under Contract - Continue to Show 288-char remark

   Show marketing remark (288 chars)

   Investors take a note! A 3bed, 2bath raised ranch set on a nice neighborhood.Lower level offers a large family room w/ gas fireplace. Outdoors enjoy a large yard, perfect for gatherings, gardening, or play. Conveniently located by shopping centers, golf course & highways. Sold as is.

4. 2026-01-05
   listed $395,000 Active 288-char remark

   Show marketing remark (288 chars)

   Investors take a note! A 3bed, 2bath raised ranch set on a nice neighborhood.Lower level offers a large family room w/ gas fireplace. Outdoors enjoy a large yard, perfect for gatherings, gardening, or play. Conveniently located by shopping centers, golf course & highways. Sold as is.

5. 2010-10-01
   soldstatus $230,000
6. 2010-09-30
   soldstatus $230,000 241-char remark

   Show marketing remark (241 chars)

   Very specious home w/many updates. Conveniently located by shopping centers, golf course & highways. Lower level offers a large family room w/ gas fireplace. Outdoors offers a large yard w/ shed and patio. Great for outdoor entertaining!

7. 2010-04-08
   listed $240,000 241-char remark

   Show marketing remark (241 chars)

   Very specious home w/many updates. Conveniently located by shopping centers, golf course & highways. Lower level offers a large family room w/ gas fireplace. Outdoors offers a large yard w/ shed and patio. Great for outdoor entertaining!

8. 2010-04-03
   historical
9. 2009-10-22
   listed $240,000
10. 2009-05-03
    historical
11. 2008-11-03
    listed $250,000
12. 2007-04-05
    soldstatus $285,500
13. 2007-03-30
    soldstatus $285,500
14. 2007-03-30
    soldstatus $285,500
15. 2006-09-20
    listed $299,900
16. 2003-02-14
    soldstatus $205,000
17. 2002-08-15
    listed $209,900

ⓘ 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: $4,415 · $368/mo
• Projected year-2 tax: $6,434 · $536/mo
• Expected delta: +$2,019/yr (+$168/mo · 45.7%)

ⓘ 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 6/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $30,297
• − Mortgage interest: −$22,126
• − Property taxes: −$4,415
• − Insurance: −$1,975
• − Repairs & maintenance: −$2,424
• − Management: −$2,424
• − Depreciation: −$11,491
• Taxable loss: −$14,558
• Est. tax savings @ 24.0%: +$3,494
• After-tax cash flow: $-3,819/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: East Lyme School District
• NCES district ID: 0901320
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 68% ▼ -7.00%
• Median HH income: $81,441
• Composite: 55.28/100
• National rank: #1264
• State rank: #42 of 153 in CT

Livability — Niantic

• Score: 78/100
• State rank: #35
• US rank: #2462

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: New London County · 147,197 people
• City population: 11,332
• Metro: Norwich-New London, CT
• Population (ZIP): 7,389
• Household income: $129,083
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 146.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 9% Asian 8% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 4% Russian 4%
• Foreign-born: 9% · Canada, China
• Languages at home: 90% English-only · Other Indo-European 4% Tagalog/Filipino 2% Chinese 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: ▼ -61.45%
• Current HPI: 235.2752
• Rent YoY: —
• 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

+88.2% since first listed

17 events — show timeline

• 2026-05-13 Pending — Smart MLS
• 2026-05-07 Relisted — Smart MLS
• 2026-04-24 Contingent — Smart MLS
• 2026-01-05 Listed $395,000 Smart MLS
• 2010-10-01 Sold (Public Records) $230,000 Public Records
• 2010-09-30 Sold (MLS) $230,000 Smart MLS
• 2010-04-08 Listed $240,000 Smart MLS
• 2010-04-03 Listing Removed — Smart MLS
• 2009-10-22 Listed $240,000 Smart MLS
• 2009-05-03 Listing Removed — Smart MLS
• 2008-11-03 Listed $250,000 Smart MLS
• 2007-04-05 Sold (MLS) $285,500 Smart MLS
• 2007-03-30 Sold (Public Records) $285,500 Public Records
• 2007-03-30 Sold (Public Records) $285,500 Public Records
• 2006-09-20 Listed $299,900 Smart MLS
• 2003-02-14 Sold (MLS) $205,000 Smart MLS
• 2002-08-15 Listed $209,900 Smart MLS

Property tax history

+2.0%/yr

Latest (2023): $4,415 · +4.4% YoY. Source: county tax records.