158 Midway Oval · Poquonock Bridge, CT 06340

$379,900

4 bd · 2.0 ba · 1,425 sqft · MultiFamily public records · 31 Days on market

Built 1942 9,147 sqft lot $267/sqft · 29% above area Est $295k · 29% over

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Why this score? — see what drove the C 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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

OFFER DEADLINE is TUESDAY 5/5 at NOON. Welcome to 158 - 160 Midway Oval. This property isn't just a home; it's a financial opportunity! Whether you're looking to occupy one side, or expand your real estate portfolio, this stunning multi-family home is a no-brainer. Say goodbye to the hassle of outdated heating systems, both units are equipped with electric heat; eliminating the need for a boiler or oil tank! Also, a brand-new roof ensures peace of mind. Both units have washer/dryer hook-ups and separate driveways. The home is connected to city water and city sewer. The service provider for the power & water is Groton Utilities. Enjoy being close to all the area has to offer; shopping,

Key facts

• 9,147 sq ft lot
• Built 1942
• Listed 31 days

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Electric service (electric hot water and heat)
• Home design: Multi-family 2-family property
• Construction: Frame construction; Block and concrete foundation
• Exterior features: Level lot; Vinyl siding; Asphalt shingle roof

Interior

• Bedrooms: 4 bedrooms (total)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric baseboard heat
• Interior features: 8 total rooms; Crawl space basement; Has attic with access via hatch
• Laundry & utility: In-unit laundry hook-ups in each unit; 40-gallon electric hot water tank

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $380k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $380k).
• Recommended offer: $369k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#88 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, employment F.
• Groton School District (suburban): math 32% / reading 50% proficiency, ranked #96 of 153 in CT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.8%/yr); 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• At $4,525/mo this rent would consume 66% of the median local household income ($82k/yr) (locally 1710% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $106k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($369k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $368,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.66%
• DSCR: 1.61
• GRM: 7.0

CMA / ARV

• ARV (median comp): $294,550
• List price: $379,900
• Delta: 28.98%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
158 Midway Oval	0.00mi	4/2.0	1,425 (0%)	1mo	$386,000	$271	100
18 Tacoma Ct	0.12mi	4/2.0	1,425 (0%)	8mo	$376,500	$264	88
90 Midway Oval	0.23mi	4/2.0	1,421 (-0%)	5mo	$385,000	$271	85
161 Midway Oval	0.15mi	4/2.0	1,248 (-12%)	11mo	$260,000	$208	63

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 · 3.75% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $18,936
• Equity at exit: $56,644

10-year hold

• IRR: 14.7%
• Equity multiple: 2.22×
• Total profit: $129,787
• Equity at exit: $32,847

Cash invested: $106,372 (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 06340

• Home prices YoY: -27.9%
• Rents YoY: 3.8%
• Active inventory: 92
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $4,525 high
• Mortgage (P&I): −$1,992
• Tax from tax record: −$213 /mo · $2,555/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$950
• Net cashflow: $1,211

Break-even live

Break-even rent $2,992

Max offer price $379,900

Occupancy floor 68%

Sensitivity live

Price	-10% $1,426	-5% $1,319	+0% $1,211	+5% $1,104	+10% $996
Rent	-10% $854	-5% $1,033	+0% $1,211	+5% $1,390	+10% $1,569
Rate	-1.0pp $1,403	-0.5pp $1,308	base $1,211	+0.5pp $1,113	+1.0pp $1,013

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,526
Total (2 units)			$4,525

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: $94,975
• Closing costs: $11,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Ledgewood Rd Groton, CT	1.0–3.0	1.0–3.0	1247	$7,351	$5.89	3d	1	1.44mi

Listing history 7 events

1. 2026-06-01
   statusdays on market $379,900 Under Contract 31 DOM
2. 2026-05-31
   days on market $379,900 Under Contract - Continue to Show 30 DOM
3. 2026-05-30
   days on market $379,900 Under Contract - Continue to Show 29 DOM
4. 2026-05-06
   historical Under Contract - Continue to Show 1026-char remark
5. 2026-05-02
   listed $379,900 Active 1026-char remark
6. 2026-04-27
   historical $379,900 1026-char remark
7. 1997-05-29
   soldstatus $21,000

ⓘ 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: $2,555 · $213/mo
• Projected year-2 tax: $5,342 · $445/mo
• Expected delta: +$2,787/yr (+$232/mo · 109.1%)

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

Taxation est. · year 1

• Rental income: $54,300
• − Mortgage interest: −$21,280
• − Property taxes: −$2,555
• − Insurance: −$1,900
• − Repairs & maintenance: −$4,344
• − Management: −$4,344
• − Depreciation: −$11,052
• Taxable income: $8,826
• Est. tax owed @ 24.0%: −$2,118
• After-tax cash flow: $12,418/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: Groton School District
• NCES district ID: 0901770
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $60,709
• Composite: 36.28/100
• National rank: #4702
• State rank: #96 of 153 in CT

Livability — Poquonock Bridge

• Score: 71/100
• State rank: #88
• US rank: #6958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poquonock Bridge, CT
• County: New London County · 147,197 people
• Metro: Norwich-New London, CT
• Population (ZIP): 29,863
• Household income: $81,792
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 1710.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 11% Asian 7% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 2% Other Indo-European 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: ▼ -97.61%
• Current HPI: 252.846
• Rent YoY: ▲ 3.75%
• 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

+1738.1% since first listed

6 events — show timeline

• 2026-06-04 Sold (MLS) $386,000 Smart MLS
• 2026-06-01 Pending — Smart MLS
• 2026-05-06 Contingent — Smart MLS
• 2026-05-02 Listed $379,900 Smart MLS
• 2026-04-27 Coming Soon $379,900 Smart MLS
• 1997-05-29 Sold (Public Records) $21,000 Public Records

Property tax history

+1.4%/yr

Latest (2022): $2,555 · +10.2% YoY. Source: county tax records.