80 Sheldon Rd Lot 12

Jewett City, CT 06351

$140,000C+

2 bd · 1.5 ba · 768 sqft · Built 1969 · Manufactured · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,558/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$90
• HOA: −$0
• Vac / Maint / Mgmt: −$327
• Net cashflow: $407/mo
• Annual: $4,885/yr
• Cap rate: 9.78%
• Cash-on-cash: 12.46%
• DSCR: 1.55
• 1% rule: 1.11%
• Cash to close: $39,200

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $140k.
• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• It's been on market 52 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#96 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Griswold School District (rural): math 29% / reading 42% proficiency, ranked #111 of 153 in CT (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Griswold High School (math 32% / reading 47%, grade F, #107 of 194 statewide, top 56%, 533 students, 46% FRL) — zoned schools average 46% FRL vs 31% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 76 active listings in the ZIP; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• 4 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.8% vs local median 3.5% in Jewett City — 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.

Questions for listing agent

• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1969 — 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.