136 Hunters Rd Lot 39 · Norwich, CT 06360

$115,000

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 4 Days on market

Built 1984

---

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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

Enjoy open floorplan living in desirable Oakland Heights, a 55+ community. This well managed, nicely maintained park is close to shopping and is close to the Mohegan Park entrance. The home features 2 good sized bedrooms, 2 full baths, an oversized tub, updated kitchen and a bedroom view of the forest. There is a 9' x 20' covered porch that is perfect for relaxing on and a shed for storage. Park fee includes water, sewer and road maintenance. There are no dogs in this park, but 1 cat is allowed. Subject to park approval.

Key facts

• Updated electrical
• New doors
• Completely remodeled

Tags

• COMPLETELY REMODELED
• NEW WINDOWS
• NEW DOORS
• ASPHALT ROOF
• VINYL PLANK FLOORING
• UPDATED ELECTRICAL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 12.5% vs local median 4.1% 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-.
• 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.
• Zoned schools: Moriarty Magnet School (math 26% / reading 31%, grade F, #396 of 553 statewide, top 72%, 368 students, 62% FRL); Kelly Steam Magnet Middle School (math 15% / reading 32%, grade F, #156 of 175 statewide, top 90%, 556 students, 72% FRL).
• Market conditions: Rents rising fast (+6.6%/yr); 243 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• This rent runs 30% 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 $795 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 $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y 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 $47k; list at $115k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 59% 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 $115,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.43% ✓
• Cap rate: 12.45%
• Cash-on-cash: 22.00%
• DSCR: 1.98
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.62% rent growth · sell at horizon

5-year hold

• IRR: 15.5%
• Equity multiple: 1.65×
• Total profit: $20,935
• Equity at exit: $17,147

10-year hold

• IRR: 26.7%
• Equity multiple: 3.75×
• Total profit: $88,600
• Equity at exit: $9,943

Cash invested: $32,200 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,639 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $524

Break-even live

Break-even rent $976

Max offer price $115,000

Occupancy floor 63%

Sensitivity live

Price	-10% $589	-5% $557	+0% $524	+5% $491	+10% $459
Rent	-10% $394	-5% $459	+0% $524	+5% $589	+10% $653
Rate	-1.0pp $582	-0.5pp $553	base $524	+0.5pp $494	+1.0pp $464

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Hunters Rd Apt 1 Norwich, CT	2.0	1.0	720	$1,850	$2.57	15d	1	0.45mi
79 S B St Unit B Taftville, CT	2.0	1.0	1100	$1,600	$1.45	15d	1	0.54mi
70 Sandy Ln Norwich, CT	1.0–3.0	1.0–1.5	900	$1,225	$1.36	3d	6	1.06mi
17 Sylvester St Norwich, CT	1.0	1.0	592	$1,350	$2.28	15d	1	1.14mi

Listing history 8 events

1. 2026-04-26
   status Under Contract
2. 2026-04-22
   listed $115,000 Active
3. 2023-02-10
   soldstatus $47,000 Closed 526-char remark

   Show marketing remark (526 chars)

   Enjoy open floorplan living in desirable Oakland Heights, a 55+ community. This well managed, nicely maintained park is close to shopping and is close to the Mohegan Park entrance. The home features 2 good sized bedrooms, 2 full baths, an oversized tub, updated kitchen and a bedroom view of the forest. There is a 9' x 20' covered porch that is perfect for relaxing on and a shed for storage. Park fee includes water, sewer and road maintenance. There are no dogs in this park, but 1 cat is allowed. Subject to park approval.

4. 2023-01-24
   status Under Contract 526-char remark

   Show marketing remark (526 chars)

   Enjoy open floorplan living in desirable Oakland Heights, a 55+ community. This well managed, nicely maintained park is close to shopping and is close to the Mohegan Park entrance. The home features 2 good sized bedrooms, 2 full baths, an oversized tub, updated kitchen and a bedroom view of the forest. There is a 9' x 20' covered porch that is perfect for relaxing on and a shed for storage. Park fee includes water, sewer and road maintenance. There are no dogs in this park, but 1 cat is allowed. Subject to park approval.

5. 2023-01-17
   listed $51,900 Active 526-char remark

   Show marketing remark (526 chars)

   Enjoy open floorplan living in desirable Oakland Heights, a 55+ community. This well managed, nicely maintained park is close to shopping and is close to the Mohegan Park entrance. The home features 2 good sized bedrooms, 2 full baths, an oversized tub, updated kitchen and a bedroom view of the forest. There is a 9' x 20' covered porch that is perfect for relaxing on and a shed for storage. Park fee includes water, sewer and road maintenance. There are no dogs in this park, but 1 cat is allowed. Subject to park approval.

6. 2009-08-19
   soldstatus $20,000 105-char remark

   Show marketing remark (105 chars)

   Very clean mobile home located in adult park, open floor plan, 1 cat allowed, lot rent is $340 per month.

7. 2009-08-14
   soldstatus $20,000
8. 2008-10-16
   listed $29,900 105-char remark

   Show marketing remark (105 chars)

   Very clean mobile home located in adult park, open floor plan, 1 cat allowed, lot rent is $340 per month.

ⓘ 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: $644 · $54/mo
• Projected year-2 tax: $1,552 · $129/mo
• Expected delta: +$908/yr (+$76/mo · 141.1%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 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 59% 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: $19,672
• − Mortgage interest: −$6,442
• − Property taxes: −$644
• − Insurance: −$1,372
• − Repairs & maintenance: −$1,574
• − Management: −$1,574
• − Depreciation: −$3,345
• Taxable income: $4,721
• Est. tax owed @ 24.0%: −$1,133
• After-tax cash flow: $5,155/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

+284.6% since first listed

8 events — show timeline

• 2026-04-26 Pending — Smart MLS
• 2026-04-22 Listed $115,000 Smart MLS
• 2023-02-10 Sold (MLS) $47,000 Smart MLS
• 2023-01-24 Pending — Smart MLS
• 2023-01-17 Listed $51,900 Smart MLS
• 2009-08-19 Sold (MLS) $20,000 Smart MLS
• 2009-08-14 Sold (Public Records) $20,000 Public Records
• 2008-10-16 Listed $29,900 Smart MLS

Property tax history

-1.8%/yr

Latest (2023): $644 · -0.9% YoY. Source: county tax records.