4 Long Pond Rd S Lot F

Ledyard, CT 06339

$97,900B-

1 bd · 1.0 ba · 452 sqft · Built 1924 · Manufactured · Under Contract · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,595/mo
• Mortgage (P&I): −$513
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$335
• Net cashflow: $622/mo
• Annual: $7,469/yr
• Cap rate: 13.92%
• Cash-on-cash: 27.25%
• DSCR: 2.21
• 1% rule: 1.63%
• Cash to close: $27,412

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $98k.
• At list price, monthly cash flow is $622 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• It's been on market 16 days — a 2% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $677 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Ledyard School District (rural): math 34% / reading 49% proficiency, ranked #92 of 153 in CT (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Ledyard High School (math 42% / reading 67%, grade C-, #63 of 194 statewide, top 39%, 743 students, 25% FRL).
• Zoned-school proficiency averages 54% at this address vs 42% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Ledyard School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 36 active listings in the ZIP; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 74% 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.

Questions for listing agent

• Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.