1032 N Main #3 · Killingly, CT 06241

$31,500

2 bd · 1.0 ba · 800 sqft · Manufactured · 64 Days on market

Built 1970 Poor condition 1,000 sqft lot $39/sqft · 34% below area Est $48k · 34% under $600/mo HOA · 46% of rent ↓ 3% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated at 1032 N. Main U:3 in Killingly, CT, United States, this distinctive mobile home represents an established dwelling from 1970, offering an inviting opportunity for comfortable living. The residence features two dedicated bedrooms, providing private spaces conducive to rest and personal comfort. A single full bathroom is also present, equipped to serve daily needs with efficiency and convenience. The interior provides a comfortable expanse for daily routines and relaxation. The property is complemented by a 1000 square foot lot, offering a manageable outdoor space for personal enjoyment. Constructed in 1970, this dwelling offers a long-standing presence, providing a seasoned foundation for its occupants. This property offers a unique opportunity to establish a personalized living environment within a practical setting. Home is a fixer upper and we are open to offers.

Key facts

• 1,000 sq ft lot
• 2 parking spots
• Built 1970

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $32k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $30k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Killingly School District (rural): math 21% / reading 44% proficiency, ranked #119 of 153 in CT (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $218 of loan paydown is wiped out by about $945 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($30k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 46% of rent.

Recommended offer $29,610 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 4.13% ✓
• Cap rate: 14.27%
• Cash-on-cash: 28.48%
• DSCR: 2.27
• GRM: 2.0

CMA / ARV

• ARV (median comp): $47,900
• List price: $31,500
• Delta: -34.24%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1032 N Main St #7	0.01mi	2/1.0	750 (-6%)	21mo	$51,000	$68	72

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: 23.5%
• Equity multiple: 1.98×
• Total profit: $8,615
• Equity at exit: $4,697

10-year hold

• IRR: 31.9%
• Equity multiple: 3.98×
• Total profit: $26,245
• Equity at exit: $2,724

Cash invested: $8,820 (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 06241

• Home prices YoY: -14.2%
• Active inventory: 33
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$165
• Tax est. 1.5%: −$39 /mo · $472/yr
• Insurance: −$13
• HOA: −$600
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $209

Break-even live

Break-even rent $1,035

Max offer price $31,500

Occupancy floor 79%

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: $7,875
• Closing costs: $945
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
490 Hartford Pike Unit 5 Dayville, CT	1.0	1.0	950	$1,300	$1.37	23d	1	0.77mi

HOA detail

• Monthly dues: $600 · $7,200/yr

Listing history 18 events

1. 2026-06-18
   days on market $31,500 Active 64 DOM
2. 2026-06-17
   days on market $31,500 Active 63 DOM
3. 2026-06-16
   days on market $31,500 Active 62 DOM
4. 2026-06-15
   days on market $31,500 Active 61 DOM
5. 2026-06-14
   days on market $31,500 Active 59 DOM
6. 2026-06-13
   days on market $31,500 Active 58 DOM
7. 2026-06-10
   days on market $31,500 Active 56 DOM
8. 2026-06-09
   days on market $31,500 Active 55 DOM
9. 2026-06-08
   days on market $31,500 Active 54 DOM
10. 2026-06-07
    days on market $31,500 Active 53 DOM
11. 2026-06-05
    days on market $31,500 Active 50 DOM
12. 2026-06-03
    days on market $31,500 Active 49 DOM
13. 2026-06-02
    days on market $31,500 Active 48 DOM
14. 2026-06-01
    days on market $31,500 Active 47 DOM
15. 2026-05-31
    days on market $31,500 Active 46 DOM
16. 2026-05-31
    days on market $31,500 Active 45 DOM
17. 2026-05-04
    price $31,500 888-char remark

    Show marketing remark (888 chars)

    Situated at 1032 N. Main U:3 in Killingly, CT, United States, this distinctive mobile home represents an established dwelling from 1970, offering an inviting opportunity for comfortable living. The residence features two dedicated bedrooms, providing private spaces conducive to rest and personal comfort. A single full bathroom is also present, equipped to serve daily needs with efficiency and convenience. The interior provides a comfortable expanse for daily routines and relaxation. The property is complemented by a 1000 square foot lot, offering a manageable outdoor space for personal enjoyment. Constructed in 1970, this dwelling offers a long-standing presence, providing a seasoned foundation for its occupants. This property offers a unique opportunity to establish a personalized living environment within a practical setting. Home is a fixer upper and we are open to offers.

18. 2026-04-15
    listed $32,500 New 888-char remark

    Show marketing remark (888 chars)

    Situated at 1032 N. Main U:3 in Killingly, CT, United States, this distinctive mobile home represents an established dwelling from 1970, offering an inviting opportunity for comfortable living. The residence features two dedicated bedrooms, providing private spaces conducive to rest and personal comfort. A single full bathroom is also present, equipped to serve daily needs with efficiency and convenience. The interior provides a comfortable expanse for daily routines and relaxation. The property is complemented by a 1000 square foot lot, offering a manageable outdoor space for personal enjoyment. Constructed in 1970, this dwelling offers a long-standing presence, providing a seasoned foundation for its occupants. This property offers a unique opportunity to establish a personalized living environment within a practical setting. Home is a fixer upper and we are open to offers.

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

Taxation est. · year 1

• Rental income: $15,600
• − Mortgage interest: −$1,764
• − Property taxes: −$472
• − Insurance: −$158
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − HOA: −$7,200
• − Depreciation: −$916
• Taxable income: $2,593
• Est. tax owed @ 24.0%: −$622
• After-tax cash flow: $1,889/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.

Condition & rehab AI · 8 photos

Poor 20/100 Extensive rehab

This mobile home requires extensive repairs and renovations to bring it up to a livable condition. Significant work is needed to replace exposed subfloor, debris, and missing cabinets and fixtures. Improvements in landscaping and HVAC will also enhance its value.

Repairs flagged

• Major Exposed subfloor — Needs complete replacement
• Major Debris — Needs removal
• Major Missing cabinets — Needs replacement
• Major Missing fixtures — Needs replacement

Value-add opportunities

• Both Complete kitchen renovation — Modern kitchen design increases both resale and rental value
• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value
• Both HVAC system upgrade — Improved comfort and energy efficiency attract buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed subfloor · Needs complete replacement	Major	$15,000–50,000
Debris · Needs removal	Major	$15,000–50,000
Missing cabinets · Needs replacement	Major	$15,000–50,000
Missing fixtures · Needs replacement	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Complete kitchen renovation — Modern kitchen design increases both resale and rental value ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value ↑
• Both HVAC system upgrade — Improved comfort and energy efficiency attract buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Killingly School District
• NCES district ID: 0902070
• Math proficiency: 21% ▼ -19.00%
• Reading proficiency: 44% ▼ -14.00%
• Median HH income: $55,485
• Composite: 28.71/100
• National rank: #6684
• State rank: #119 of 153 in CT

Livability — Killingly

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

Census & demographics

• Census place: Dayville, CT
• City population: 11,185
• Population (ZIP): 6,317

Population outlook (Northeastern Connecticut County) Hauer SSP2

• By 2040: 104,160

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 20% Romanian 7% Russian 3%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Northeastern Connecticut

• 2024 margin: R (+15.4) · D 41.5% · R 57.0% · Other 1.5%
• All cycles: 2024: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.86%
• Current HPI: 216.1835
• Rent YoY: —
• Metro: —
• 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

-3.1% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $31,500 MLS PIN
• 2026-04-15 Listed $32,500 MLS PIN