210 Bundy Hill Rd Lot 54 · Norwich, CT 06351

$88,000

2 bd · 1.0 ba · 768 sqft · Manufactured public records · 22 Days on market

Built 1973 $590/mo HOA · 34% of rent

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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 +27.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two bedroom one bath mobile home in good condition. Appliance Dayton kitchen nice open floor plan, newer washer and dryer to convey. Spacious master with built-in dressers with waterfront View of the pond. Lot rent is $490 a month.

Key facts

• Built 1973
• Listed 22 days

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; Association fee includes trash pickup and water; HOA fee $590 monthly; Professional on-site property management

Exterior

• Utilities: Shared well water; Shared septic system; Domestic hot water; Above-ground fuel tank
• Home design: Single-family home; On leased land; Direct waterfront
• Construction: Other construction; No foundation specified
• Exterior features: Pond on the property; Level lot; Aluminum siding; Flat roof

Interior

• Kitchen: Oven/Range; Microwave; Range hood; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom; Laundry located in bathroom
• Heating & cooling: Hot air heating (kerosene fuel); Wall unit cooling
• Interior features: Wall unit cooling; No basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $88k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $87k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 4.0% 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-; Watch: schools D+.
• Lisbon School District (rural): math 37% / reading 54% proficiency, ranked #86 of 153 in CT (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 76 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $11k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $88k implies a 193% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: major wind risk, 63% 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 $86,680 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.98% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.17%
• DSCR: 1.59
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 3.5%
• Equity multiple: 1.13×
• Total profit: $3,296
• Equity at exit: $13,121

10-year hold

• IRR: 13.3%
• Equity multiple: 2.07×
• Total profit: $26,400
• Equity at exit: $7,609

Cash invested: $24,640 (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 06351

• Home prices YoY: -22.8%
• Active inventory: 76
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,744 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$19 /mo · $232/yr
• Insurance: −$37
• HOA: −$590
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $270

Break-even live

Break-even rent $1,402

Max offer price $88,000

Occupancy floor 80%

Sensitivity live

Price	-10% $320	-5% $295	+0% $270	+5% $245	+10% $221
Rent	-10% $133	-5% $202	+0% $270	+5% $339	+10% $408
Rate	-1.0pp $315	-0.5pp $293	base $270	+0.5pp $248	+1.0pp $224

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	13d	1	0.95mi
79 S B St Unit B Taftville, CT	2.0	1.0	1100	$1,600	$1.45	13d	1	0.96mi

HOA detail

• Monthly dues: $590 · $7,080/yr
• Likely covers: water

Listing history 8 events

1. 2026-05-08
   status Under Contract
2. 2026-05-04
   price $88,000
3. 2026-04-17
   listed $98,900 Active
4. 2026-04-14
   historical $98,900
5. 2022-12-12
   soldstatus $30,000
6. 2022-12-06
   soldstatus $30,000 Closed 231-char remark

   Show marketing remark (231 chars)

   Two bedroom one bath mobile home in good condition. Appliance Dayton kitchen nice open floor plan, newer washer and dryer to convey. Spacious master with built-in dressers with waterfront View of the pond. Lot rent is $490 a month.

7. 2022-10-03
   status Under Contract 231-char remark

   Show marketing remark (231 chars)

   Two bedroom one bath mobile home in good condition. Appliance Dayton kitchen nice open floor plan, newer washer and dryer to convey. Spacious master with built-in dressers with waterfront View of the pond. Lot rent is $490 a month.

8. 2022-09-29
   listed $45,000 Active 231-char remark

   Show marketing remark (231 chars)

   Two bedroom one bath mobile home in good condition. Appliance Dayton kitchen nice open floor plan, newer washer and dryer to convey. Spacious master with built-in dressers with waterfront View of the pond. Lot rent is $490 a 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: $232 · $19/mo
• Projected year-2 tax: $1,058 · $88/mo
• Expected delta: +$826/yr (+$69/mo · 355.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% 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: $20,930
• − Mortgage interest: −$4,929
• − Property taxes: −$232
• − Insurance: −$440
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − HOA: −$7,080
• − Depreciation: −$2,560
• Taxable income: $2,340
• Est. tax owed @ 24.0%: −$562
• After-tax cash flow: $2,683/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: Lisbon School District
• NCES district ID: 0902190
• Math proficiency: 37% ▼ -6.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $78,168
• Composite: 41.68/100
• National rank: #3416
• State rank: #86 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

• City population: 37,216
• Population (ZIP): 15,697

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 4% Native American 1%
• Common ancestry: Lithuanian 15% Romanian 10% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1%

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: ▼ -67.06%
• Current HPI: 227.571
• 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

+95.6% since first listed

8 events — show timeline

• 2026-05-08 Pending — Smart MLS
• 2026-05-04 Price Changed $88,000 Smart MLS
• 2026-04-17 Listed $98,900 Smart MLS
• 2026-04-14 Coming Soon $98,900 Smart MLS
• 2022-12-12 Sold (Public Records) $30,000 Public Records
• 2022-12-06 Sold (MLS) $30,000 Smart MLS
• 2022-10-03 Pending — Smart MLS
• 2022-09-29 Listed $45,000 Smart MLS

Property tax history

-3.9%/yr

Latest (2023): $232 · +5.5% YoY. Source: county tax records.