2 Circle Dr · Windham, CT 06256

$59,999

2 bd · 1.0 ba · 938 sqft · Manufactured public records · 49 Days on market

Built 1987 $841/mo HOA · 54% of rent

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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 +14.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.9/10.0
• DSCR +4.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

This is a 1987 Coventry 928 Square foot single wide manufactured home 2 bedroom 1 bath, ready to move in condition. Water heater is about 6 years old, has public water and sewer paid for in park land use charges. AC and heating system serviced summer 2024. Heating system is oil fired warm air. Windows have been replaced and all appliances will convey with the unit. Carpets replaced 4 years ago. The unit has a covered deck. Plenty of privacy in the back yard. Two sheds to convey with property. Park residency approval is required. Check with your agent for information on how to obtaine the park for application and rules.

Key facts

• Two storage sheds
• Central air
• Replacement windows

Tags

• STONEGATE MANOR COMMUNITY
• REPLACEMENT WINDOWS
• SPACIOUS COVERED DECK
• PRIVATE BACKYARD SETTING
• TWO STORAGE SHEDS
• CENTRAL AIR

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; HOA fee covers grounds maintenance, trash pickup, snow removal, water and sewer

Exterior

• Utilities: Public water connected; Public sewer connected; Above-ground fuel tank
• Home design: Single-family home
• Construction: Prefab construction; Concrete foundation; Asphalt shingle roof
• Exterior features: Level lot; Vinyl siding

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heat; Oil-fired heating; Electric 30-gallon hot water tank
• Interior features: Central air conditioning; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $16 ($197/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Windham School District (town): math 15% / reading 25% proficiency, ranked #143 of 153 in CT (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 18 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).

Forward outlook

• In year one you build about $328 of equity ($415 loan paydown + $-87 appreciation (-0.1% local appreciation)).

Negotiation context

• It's been on market 49 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y 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: HOA is 54% of rent.

Recommended offer $58,199 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
5. 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.
6. 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: 2.62% ✓
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.96×
• Total profit: $-596
• Equity at exit: $16,988

10-year hold

• IRR: 5.7%
• Equity multiple: 1.62×
• Total profit: $10,357
• Equity at exit: $20,078

Cash invested: $16,800 (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 06256

• Home prices YoY: -0.1%
• Active inventory: 18
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,570 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$43 /mo · $515/yr
• Insurance: −$25
• HOA: −$841
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $16

Break-even live

Break-even rent $1,549

Max offer price $59,999

Occupancy floor 94%

Sensitivity live

Price	-10% $50	-5% $33	+0% $16	+5% $-1	+10% $-18
Rent	-10% $-108	-5% $-46	+0% $16	+5% $78	+10% $140
Rate	-1.0pp $47	-0.5pp $32	base $16	+0.5pp $1	+1.0pp $-15

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
82 Boston Post Rd Unit A1 North Windham, CT	1.0	1.0	700	$1,600	$2.29	15d	1	0.93mi
145 Foster Dr Willimantic, CT	2.0	1.0–1.5	687	$1,830	$2.66	2d	1	1.12mi
466 Ash St Willimantic, CT	2.0	1.5	900	$1,300	$1.44	2d	1	1.32mi

HOA detail

• Monthly dues: $841 · $10,092/yr
• Likely covers: watersewer

Listing history 28 events

1. 2026-06-17
   status $59,999 Under Contract 49 DOM
2. 2026-06-17
   days on market $59,999 Active 49 DOM
3. 2026-06-16
   days on market $59,999 Active 48 DOM
4. 2026-06-15
   days on market $59,999 Active 47 DOM
5. 2026-06-14
   days on market $59,999 Active 45 DOM
6. 2026-06-10
   days on market $59,999 Active 42 DOM
7. 2026-06-09
   days on market $59,999 Active 41 DOM
8. 2026-06-08
   days on market $59,999 Active 40 DOM
9. 2026-06-07
   days on market $59,999 Active 39 DOM
10. 2026-06-05
    days on market $59,999 Active 36 DOM
11. 2026-06-03
    days on market $59,999 Active 35 DOM
12. 2026-06-02
    days on market $59,999 Active 34 DOM
13. 2026-06-01
    days on market $59,999 Active 33 DOM
14. 2026-05-31
    days on market $59,999 Active 32 DOM
15. 2026-05-31
    status $59,999 Active 31 DOM
16. 2026-05-06
    status Active 995-char remark
17. 2026-05-05
    status Under Contract 995-char remark
18. 2026-04-24
    listed $59,999 Active 995-char remark
19. 2025-02-13
    status Under Contract 626-char remark

    Show marketing remark (626 chars)

    This is a 1987 Coventry 928 Square foot single wide manufactured home 2 bedroom 1 bath, ready to move in condition. Water heater is about 6 years old, has public water and sewer paid for in park land use charges. AC and heating system serviced summer 2024. Heating system is oil fired warm air. Windows have been replaced and all appliances will convey with the unit. Carpets replaced 4 years ago. The unit has a covered deck. Plenty of privacy in the back yard. Two sheds to convey with property. Park residency approval is required. Check with your agent for information on how to obtaine the park for application and rules.

20. 2025-02-11
    soldstatus $59,900 Closed 626-char remark

    Show marketing remark (626 chars)

    This is a 1987 Coventry 928 Square foot single wide manufactured home 2 bedroom 1 bath, ready to move in condition. Water heater is about 6 years old, has public water and sewer paid for in park land use charges. AC and heating system serviced summer 2024. Heating system is oil fired warm air. Windows have been replaced and all appliances will convey with the unit. Carpets replaced 4 years ago. The unit has a covered deck. Plenty of privacy in the back yard. Two sheds to convey with property. Park residency approval is required. Check with your agent for information on how to obtaine the park for application and rules.

21. 2025-01-21
    historical Under Contract - Continue to Show 626-char remark

    Show marketing remark (626 chars)

    This is a 1987 Coventry 928 Square foot single wide manufactured home 2 bedroom 1 bath, ready to move in condition. Water heater is about 6 years old, has public water and sewer paid for in park land use charges. AC and heating system serviced summer 2024. Heating system is oil fired warm air. Windows have been replaced and all appliances will convey with the unit. Carpets replaced 4 years ago. The unit has a covered deck. Plenty of privacy in the back yard. Two sheds to convey with property. Park residency approval is required. Check with your agent for information on how to obtaine the park for application and rules.

22. 2024-12-30
    listed $59,900 Active 626-char remark

    Show marketing remark (626 chars)

    This is a 1987 Coventry 928 Square foot single wide manufactured home 2 bedroom 1 bath, ready to move in condition. Water heater is about 6 years old, has public water and sewer paid for in park land use charges. AC and heating system serviced summer 2024. Heating system is oil fired warm air. Windows have been replaced and all appliances will convey with the unit. Carpets replaced 4 years ago. The unit has a covered deck. Plenty of privacy in the back yard. Two sheds to convey with property. Park residency approval is required. Check with your agent for information on how to obtaine the park for application and rules.

23. 2019-08-29
    historical
24. 2019-07-24
    status Active
25. 2019-07-16
    historical Under Contract - Continue to Show
26. 2019-07-16
    price $14,000
27. 2019-06-25
    price $18,000
28. 2019-06-12
    listed $22,000 Active

ⓘ 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: $515 · $43/mo
• Projected year-2 tax: $899 · $75/mo
• Expected delta: +$384/yr (+$32/mo · 74.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $18,835
• − Mortgage interest: −$3,361
• − Property taxes: −$515
• − Insurance: −$300
• − Repairs & maintenance: −$1,507
• − Management: −$1,507
• − HOA: −$10,092
• − Depreciation: −$1,745
• Taxable loss: −$192
• Est. tax savings @ 24.0%: +$46
• After-tax cash flow: $243/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: Windham School District
• NCES district ID: 0905190
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $40,956
• Composite: 17.01/100
• National rank: #9128
• State rank: #143 of 153 in CT

Livability — Windham

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

Census & demographics

• Population (ZIP): 1,796

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 15% Two or more races 4% Black 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 5%
• Common ancestry: Romanian 18% Lithuanian 11% Russian 2%
• Foreign-born: 4% · Canada
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 2%

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: ▼ -0.14%
• Current HPI: 269.7593
• 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

+172.7% since first listed

16 events — show timeline

• 2026-06-17 Pending — Smart MLS
• 2026-05-30 Relisted — Smart MLS
• 2026-05-27 Pending — Smart MLS
• 2026-05-06 Relisted — Smart MLS
• 2026-05-05 Pending — Smart MLS
• 2026-04-24 Listed $59,999 Smart MLS
• 2025-02-13 Pending — Smart MLS
• 2025-02-11 Sold (MLS) $59,900 Smart MLS
• 2025-01-21 Contingent — Smart MLS
• 2024-12-30 Listed $59,900 Smart MLS
• 2019-08-29 Listing Removed — Smart MLS
• 2019-07-24 Relisted — Smart MLS
• 2019-07-16 Contingent — Smart MLS
• 2019-07-16 Price Changed $14,000 Smart MLS
• 2019-06-25 Price Changed $18,000 Smart MLS
• 2019-06-12 Listed $22,000 Smart MLS

Property tax history

-1.7%/yr

Latest (2023): $515 · +2.6% YoY. Source: county tax records.