22 W High St · Lake Pocotopaug, CT 06424

$375,000

4 bd · 2.0 ba · 2,631 sqft · MultiFamily public records · 6 Days on market

Built 1852 1.00 ac lot $143/sqft · 8% above area Est $348k · 8% 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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +7.7/10.0
• Schools +4.8/10.0
• ARV discount +3.9/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

The Hiram Veazey house was built in 1851. Hiram established a bell company, later a partner named Alfred White joined him. The business name was changed to Veazey & White, then changed to Starbrothers Bell Co. & later to be called Nesci Enterprises Inc. This stunning federal colonial has many impressive features still today. The Architecture & wide moldings have charm & character of which is sought after in higher price points. 3 beautiful fireplaces, 2 marble, whiteboard Floors & special details to embrace. This two-family home has many generous sized rooms enhanced by 10” ceilings on the main floor 7 vaulted ceilings in the kitchen. The main unit has an attached one car garage & a mudroom. Each unit has a washer & dryer hook up. original chestnut wood floors in the dining room & living room with antique cut nails. The upper level unit has been updated with pretty fresh paint, a fireplace in the bedroom. The second bedroom is generous sized with a large closet and separate entrance. This room can also be used as the living area. The kitchen is in the middle of the 1st, 2nd bedroom & family room. Great storage with laundry room area & bathroom. Walk up attic if more storage is needed. Each unit has updated 100-amp electrical service. Steam heat with new boiler piping, 4-inch drop header, newer Peerless boiler. Newer roof, & exterior paint. The oversized level lot is well-established w/perennial gardens & fruit trees. This property is income producing and a FANTASTIC location!

Key facts

• 1 acre lot
• Garage
• Built 1852

Property features AI

Finance

• Financial info: Assessed value listed (public record) $186,370

Exterior

• Parking: Attached garage (1 car)
• Utilities: Private well for water; Public sewer connection; Electric hot water
• Home design: Multi-family (2-family) property; Multi-family for sale
• Construction: Frame construction; Clapboard and wood siding; Stone foundation; Asphalt shingle roof; Exterior color: blue
• Exterior features: Deck; Level lot

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Steam heat powered by oil; Fuel tank located in the basement
• Interior features: Total of 8 rooms; Partial basement with hatchway; Attic with walk-up access; 3 fireplaces
• Laundry & utility: Independent hook-ups for washer/dryer in each unit; Electric hot water

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $545/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $375k).

Location & tenants

• Location reads 64/100 on livability (#130 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: cost of living C-, amenities F, commute F.
• East Hampton School District (town): math 43% / reading 59% proficiency, ranked #70 of 153 in CT (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Memorial School (math 62% / reading 62%, grade B, #137 of 553 statewide, top 28%, 544 students, 18% FRL); East Hampton Middle School (math 35% / reading 54%, grade D, #93 of 175 statewide, top 54%, 433 students, 20% FRL); East Hampton High School (math 37% / reading 67%, grade D+, #80 of 194 statewide, top 44%, 514 students, 18% FRL).
• Market conditions: 62 active listings in the ZIP; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 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 $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $105k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1852 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 41% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $375,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1852 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.45%
• DSCR: 1.55
• GRM: 6.6

CMA / ARV

• ARV (median comp): $347,522
• List price: $375,000
• Delta: 7.91%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 W High St	0.00mi	4/2.0	2,631 (0%)	0mo	$360,000	$137	100

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: 2.2%
• Equity multiple: 1.08×
• Total profit: $8,758
• Equity at exit: $55,914

10-year hold

• IRR: 11.8%
• Equity multiple: 1.93×
• Total profit: $97,467
• Equity at exit: $32,423

Cash invested: $105,000 (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 06424

• Home prices YoY: -34.6%
• Active inventory: 62
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $4,748 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$538 /mo · $6,460/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$997
• Net cashflow: $1,090

Break-even live

Break-even rent $3,369

Max offer price $375,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,302	-5% $1,196	+0% $1,090	+5% $984	+10% $878
Rent	-10% $715	-5% $902	+0% $1,090	+5% $1,277	+10% $1,465
Rate	-1.0pp $1,279	-0.5pp $1,185	base $1,090	+0.5pp $993	+1.0pp $894

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,748
Total (2 units)			$4,748

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-05-06
   status Under Contract 1259-char remark
2. 2026-05-01
   listed $375,000 Active 1259-char remark
3. 2026-04-28
   historical $375,000 1259-char remark
4. 2020-10-19
   soldstatus $247,000
5. 2020-10-16
   soldstatus $247,000 Closed 1554-char remark

   Show marketing remark (1554 chars)

   The Hiram Veazey house was built in 1851. Hiram established a bell company, later a partner named Alfred White joined him. The business name was changed to Veazey & White, then changed to Starbrothers Bell Co. & later to be called Nesci Enterprises Inc. This stunning federal colonial has many impressive features still today. The Architecture & wide moldings have charm & character of which is sought after in higher price points. 3 beautiful fireplaces, 2 marble, whiteboard Floors & special details to embrace. This two-family home has many generous sized rooms enhanced by 10” ceilings on the main floor 7 vaulted ceilings in the kitchen. The main unit has an attached one car garage & a mudroom. Each unit has a washer & dryer hook up. original chestnut wood floors in the dining room & living room with antique cut nails. The upper level unit has been updated with pretty fresh paint, a fireplace in the bedroom. The second bedroom is generous sized with a large closet and separate entrance. This room can also be used as the living area. The kitchen is in the middle of the 1st, 2nd bedroom & family room. Great storage with laundry room area & bathroom. Walk up attic if more storage is needed. Each unit has updated 100-amp electrical service. Steam heat with new boiler piping, 4-inch drop header, newer Peerless boiler. Newer roof, & exterior paint. The oversized level lot is well-established w/perennial gardens & fruit trees. This property is income producing and a FANTASTIC location!

6. 2020-08-22
   historical Under Contract - Continue to Show 1554-char remark

   Show marketing remark (1554 chars)

   The Hiram Veazey house was built in 1851. Hiram established a bell company, later a partner named Alfred White joined him. The business name was changed to Veazey & White, then changed to Starbrothers Bell Co. & later to be called Nesci Enterprises Inc. This stunning federal colonial has many impressive features still today. The Architecture & wide moldings have charm & character of which is sought after in higher price points. 3 beautiful fireplaces, 2 marble, whiteboard Floors & special details to embrace. This two-family home has many generous sized rooms enhanced by 10” ceilings on the main floor 7 vaulted ceilings in the kitchen. The main unit has an attached one car garage & a mudroom. Each unit has a washer & dryer hook up. original chestnut wood floors in the dining room & living room with antique cut nails. The upper level unit has been updated with pretty fresh paint, a fireplace in the bedroom. The second bedroom is generous sized with a large closet and separate entrance. This room can also be used as the living area. The kitchen is in the middle of the 1st, 2nd bedroom & family room. Great storage with laundry room area & bathroom. Walk up attic if more storage is needed. Each unit has updated 100-amp electrical service. Steam heat with new boiler piping, 4-inch drop header, newer Peerless boiler. Newer roof, & exterior paint. The oversized level lot is well-established w/perennial gardens & fruit trees. This property is income producing and a FANTASTIC location!

7. 2020-07-28
   listed $239,000 Active 1554-char remark

   Show marketing remark (1554 chars)

   The Hiram Veazey house was built in 1851. Hiram established a bell company, later a partner named Alfred White joined him. The business name was changed to Veazey & White, then changed to Starbrothers Bell Co. & later to be called Nesci Enterprises Inc. This stunning federal colonial has many impressive features still today. The Architecture & wide moldings have charm & character of which is sought after in higher price points. 3 beautiful fireplaces, 2 marble, whiteboard Floors & special details to embrace. This two-family home has many generous sized rooms enhanced by 10” ceilings on the main floor 7 vaulted ceilings in the kitchen. The main unit has an attached one car garage & a mudroom. Each unit has a washer & dryer hook up. original chestnut wood floors in the dining room & living room with antique cut nails. The upper level unit has been updated with pretty fresh paint, a fireplace in the bedroom. The second bedroom is generous sized with a large closet and separate entrance. This room can also be used as the living area. The kitchen is in the middle of the 1st, 2nd bedroom & family room. Great storage with laundry room area & bathroom. Walk up attic if more storage is needed. Each unit has updated 100-amp electrical service. Steam heat with new boiler piping, 4-inch drop header, newer Peerless boiler. Newer roof, & exterior paint. The oversized level lot is well-established w/perennial gardens & fruit trees. This property is income producing and a FANTASTIC location!

8. 2020-07-26
   historical
9. 2020-07-15
   status Active
10. 2020-07-14
    historical
11. 2020-07-01
    status Active
12. 2020-06-30
    historical
13. 2020-06-20
    price $239,000
14. 2020-02-15
    listed $245,000 Active
15. 2019-10-01
    status Under Contract
16. 2019-08-02
    historical
17. 2019-08-02
    status Active
18. 2019-08-02
    historical
19. 2019-08-01
    historical
20. 2019-06-25
    historical Under Contract - Continue to Show
21. 2019-06-25
    status Active
22. 2019-06-07
    historical
23. 2019-04-15
    price $244,000
24. 2019-04-14
    listed $233,000 Active
25. 2019-01-16
    historical
26. 2018-10-25
    listed $259,000 Active
27. 2001-04-06
    soldstatus $163,000

ⓘ 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: $6,460 · $538/mo
• Projected year-2 tax: $7,242 · $604/mo
• Expected delta: +$782/yr (+$65/mo · 12.1%)

ⓘ 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 5/10 Major 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 41% 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: $56,976
• − Mortgage interest: −$21,006
• − Property taxes: −$6,460
• − Insurance: −$1,875
• − Repairs & maintenance: −$4,558
• − Management: −$4,558
• − Depreciation: −$10,909
• Taxable income: $7,610
• Est. tax owed @ 24.0%: −$1,826
• After-tax cash flow: $11,251/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 Hampton School District
• NCES district ID: 0901230
• Math proficiency: 43% ▼ -13.00%
• Reading proficiency: 59% ▼ -8.00%
• Median HH income: $91,846
• Composite: 47.55/100
• National rank: #2265
• State rank: #70 of 153 in CT

Livability — Lake Pocotopaug

• Score: 64/100
• State rank: #130
• US rank: #14714

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Pocotopaug, CT
• Population (ZIP): 12,401

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 11% Lithuanian 4% Italian 4%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.67%
• Current HPI: 190.1694
• 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

+120.9% since first listed

28 events — show timeline

• 2026-06-11 Sold (MLS) $360,000 Smart MLS
• 2026-05-06 Pending — Smart MLS
• 2026-05-01 Listed $375,000 Smart MLS
• 2026-04-28 Coming Soon $375,000 Smart MLS
• 2020-10-19 Sold (Public Records) $247,000 Public Records
• 2020-10-16 Sold (MLS) $247,000 Smart MLS
• 2020-08-22 Contingent — Smart MLS
• 2020-07-28 Listed $239,000 Smart MLS
• 2020-07-26 Listing Removed — Smart MLS
• 2020-07-15 Relisted — Smart MLS
• 2020-07-14 Listing Removed — Smart MLS
• 2020-07-01 Relisted — Smart MLS
• 2020-06-30 Listing Removed — Smart MLS
• 2020-06-20 Price Changed $239,000 Smart MLS
• 2020-02-15 Listed $245,000 Smart MLS
• 2019-10-01 Pending — Smart MLS
• 2019-08-02 Listing Removed — Smart MLS
• 2019-08-02 Relisted — Smart MLS
• 2019-08-02 Listing Removed — Smart MLS
• 2019-08-01 Listing Removed — Smart MLS
• 2019-06-25 Contingent — Smart MLS
• 2019-06-25 Relisted — Smart MLS
• 2019-06-07 Listing Removed — Smart MLS
• 2019-04-15 Price Changed $244,000 Smart MLS
• 2019-04-14 Listed $233,000 Smart MLS
• 2019-01-16 Listing Removed — Smart MLS
• 2018-10-25 Listed $259,000 Smart MLS
• 2001-04-06 Sold (Public Records) $163,000 Public Records

Property tax history

+3.6%/yr

Latest (2022): $6,460 · +0.4% YoY. Source: county tax records.