7 North Ter · Vernon, CT 06066

$89,900

2 bd · 1.0 ba · 576 sqft · Manufactured public records · 49 Days on market

Built 1966 $156/sqft · 18% below area Est $110k · 18% under $500/mo HOA · 35% of rent

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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 +19.4/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +6.1/10.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Kitchen! New flooring including most of the sub-Floor. Lots of new sheetrock, New windows. New heating system and oil tank. New Bath. New Shed. but still some work to do, needs trim. Small Bedroom needs finish flooring exterior needs some refreshing, Over 55 Park, Buyer will need park approval,

Key facts

• Hard wood floors
• New cabinetry
• Walk-in shower

Tags

• NEW LIGHTING FIXTURES
• HARD WOOD FLOORS
• NEW CABINETRY
• WALK IN CLOSET
• WALK-IN SHOWER
• IN-UNIT WASHER AND DRYER

Property features AI

Finance

• Financial info: Professionally managed off-site
• HOA & community: Homeowners association with $500 monthly fee; HOA covers grounds maintenance, trash pickup, snow removal, water, property management, and road maintenance

Exterior

• Parking: Off-street parking; 2 parking spaces
• Utilities: Public water connected; Public sewer connected; Propane hot water
• Home design: Single-family home for sale; Located on leased land; Adult (55+) community; Prefab construction
• Construction: Aluminum siding; Metal roof; No foundation listed
• Exterior features: Lightly wooded lot; Shed

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heat (electric fuel); Window unit cooling
• Interior features: Window air-conditioning unit; No basement
• Laundry & utility: Washer; Dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Vernon School District (suburban): math 34% / reading 48% proficiency, ranked #97 of 153 in CT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 81 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $23k; list at $90k implies a 291% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.60% ✓
• Cap rate: 7.64%
• Cash-on-cash: 4.80%
• DSCR: 1.21
• GRM: 5.2

CMA / ARV

• ARV (median comp): $110,000
• List price: $89,900
• Delta: -18.27%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.73% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-5,325
• Equity at exit: $13,404

10-year hold

• IRR: 7.3%
• Equity multiple: 1.62×
• Total profit: $15,581
• Equity at exit: $7,773

Cash invested: $25,172 (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 06066

• Rents YoY: 4.7%
• Active inventory: 81
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,439 high
• Mortgage (P&I): −$471
• Tax from tax record: −$27 /mo · $323/yr
• Insurance: −$37
• HOA: −$500
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $101

Break-even live

Break-even rent $1,311

Max offer price $89,900

Occupancy floor 88%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
85 Vernon Ave Unit 1 Vernon, CT	1.0	1.0	600	$1,250	$2.08	3d	1	0.79mi
31 Vernon Ave Vernon, CT	1.0	1.0	720	$1,295	$1.80	1d	1	1.00mi
9 Morrison St Unit 2 Vernon, CT	1.0	1.0	525	$1,200	$2.29	19d	1	1.11mi
98 W Main St Unit 2B Vernon, CT	1.0	1.0	715	$1,200	$1.68	2d	1	1.16mi
100 West St Vernon, CT	1.0	1.0	674	$1,500	$2.23	43d	1	1.37mi

HOA detail

• Monthly dues: $500 · $6,000/yr

Listing history 24 events

1. 2026-06-18
   days on market $89,900 Active 49 DOM
2. 2026-06-17
   days on market $89,900 Active 48 DOM
3. 2026-06-16
   days on market $89,900 Active 47 DOM
4. 2026-06-15
   days on market $89,900 Active 46 DOM
5. 2026-06-13
   days on market $89,900 Active 44 DOM
6. 2026-06-13
   days on market $89,900 Active 43 DOM
7. 2026-06-10
   days on market $89,900 Active 41 DOM
8. 2026-06-09
   days on market $89,900 Active 40 DOM
9. 2026-06-08
   days on market $89,900 Active 39 DOM
10. 2026-06-07
    days on market $89,900 Active 38 DOM
11. 2026-06-03
    days on market $89,900 Active 34 DOM
12. 2026-06-02
    days on market $89,900 Active 33 DOM
13. 2026-06-01
    days on market $89,900 Active 32 DOM
14. 2026-05-31
    days on market $89,900 Active 31 DOM
15. 2026-04-07
    listed $92,300 Active 813-char remark
16. 2023-03-01
    soldstatus $23,000 Closed 300-char remark

    Show marketing remark (300 chars)

    New Kitchen! New flooring including most of the sub-Floor. Lots of new sheetrock, New windows. New heating system and oil tank. New Bath. New Shed. but still some work to do, needs trim. Small Bedroom needs finish flooring exterior needs some refreshing, Over 55 Park, Buyer will need park approval,

17. 2023-02-03
    status Under Contract 300-char remark

    Show marketing remark (300 chars)

    New Kitchen! New flooring including most of the sub-Floor. Lots of new sheetrock, New windows. New heating system and oil tank. New Bath. New Shed. but still some work to do, needs trim. Small Bedroom needs finish flooring exterior needs some refreshing, Over 55 Park, Buyer will need park approval,

18. 2022-12-02
    price $27,000 300-char remark

    Show marketing remark (300 chars)

    New Kitchen! New flooring including most of the sub-Floor. Lots of new sheetrock, New windows. New heating system and oil tank. New Bath. New Shed. but still some work to do, needs trim. Small Bedroom needs finish flooring exterior needs some refreshing, Over 55 Park, Buyer will need park approval,

19. 2022-10-04
    listed $32,500 Active 300-char remark

    Show marketing remark (300 chars)

    New Kitchen! New flooring including most of the sub-Floor. Lots of new sheetrock, New windows. New heating system and oil tank. New Bath. New Shed. but still some work to do, needs trim. Small Bedroom needs finish flooring exterior needs some refreshing, Over 55 Park, Buyer will need park approval,

20. 2022-10-04
    historical

    Show marketing remark (300 chars)

    New Kitchen! New flooring including most of the sub-Floor. Lots of new sheetrock, New windows. New heating system and oil tank. New Bath. New Shed. but still some work to do, needs trim. Small Bedroom needs finish flooring exterior needs some refreshing, Over 55 Park, Buyer will need park approval,

21. 2022-07-08
    listed $39,900 Active
22. 2014-11-18
    soldstatus $12,000
23. 2014-11-17
    soldstatus $12,000
24. 2013-10-17
    listed $13,000

ⓘ 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: $323 · $27/mo
• Projected year-2 tax: $1,123 · $94/mo
• Expected delta: +$800/yr (+$67/mo · 247.8%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°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: $17,265
• − Mortgage interest: −$5,036
• − Property taxes: −$323
• − Insurance: −$450
• − Repairs & maintenance: −$1,381
• − Management: −$1,381
• − HOA: −$6,000
• − Depreciation: −$2,615
• Taxable income: $79
• Est. tax owed @ 24.0%: −$19
• After-tax cash flow: $1,190/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: Vernon School District
• NCES district ID: 0904680
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $60,342
• Composite: 36.26/100
• National rank: #4704
• State rank: #97 of 153 in CT

Livability — Vernon

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

Census & demographics

• County: Tolland County · 46,815 people
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 30,577
• Household income: $85,356
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1140.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 12% Two or more races 7% Asian 6% Black 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 9%
• Common ancestry: Lithuanian 8% Romanian 7% Slovak 2%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 6% Other Indo-European 5% Russian/Polish/Slavic 1%

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: ▼ -136.25%
• Current HPI: 249.7888
• Rent YoY: ▲ 4.73%
• 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

+591.5% since first listed

11 events — show timeline

• 2026-05-22 Price Changed $89,900 Smart MLS
• 2026-04-07 Listed $92,300 Smart MLS
• 2023-03-01 Sold (MLS) $23,000 Smart MLS
• 2023-02-03 Pending — Smart MLS
• 2022-12-02 Price Changed $27,000 Smart MLS
• 2022-10-04 Listing Removed — Smart MLS
• 2022-10-04 Listed $32,500 Smart MLS
• 2022-07-08 Listed $39,900 Smart MLS
• 2014-11-18 Sold (Public Records) $12,000 Public Records
• 2014-11-17 Sold (MLS) $12,000 Smart MLS
• 2013-10-17 Listed $13,000 Smart MLS

Property tax history

+2.3%/yr

Latest (2023): $323 · +0.0% YoY. Source: county tax records.