111 Fifth St · Norwich, CT 06360

$129,900

3 bd · 1.0 ba · 1,109 sqft · SingleFamily public records · 8 Days on market

Built 1870 0.61 ac lot Est $250k · 48% under

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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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor Opportunity - Handyman Special! Bring your vision and unlock the potential in this 3-bedroom, 1-bath home set on a spacious 0.61-acre lot. This partially completed property offers a fantastic opportunity to build equity quickly and customize the home to your own style and needs. With the major groundwork already started, the finishing touches are all that stand between you and a cozy, inviting home full of character and possibility. Whether you're an investor, flipper, or buyer looking to create your dream space, this property is packed with potential and ready for its next chapter. Per the Seller, there is potential to build a multifamily unit on this property -- Buyers to do thei

Key facts

• Spacious lot
• 0.61 acre lot
• Built 1870

Tags

• SPACIOUS LOT

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Electric hot water; Oil fuel (tank located in basement)
• Home design: Single-family home
• Construction: Frame construction; Stone foundation
• Exterior features: Lightly wooded, rocky, sloping lot; Shingle and asbestos exterior siding; Asphalt shingle roof

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam radiator heat (oil-fired); Window air conditioning unit
• Interior features: Partial basement; Attic with pull-down stairs; Total of 6 rooms
• Laundry & utility: 50-gallon electric hot water tank (in basement)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 10.3% 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+.
• Norwich School District (urban): math 19% / reading 29% proficiency, ranked #139 of 153 in CT (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 241 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• This rent runs 33% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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.
• Current owner paid $110k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• 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 $129,900

Questions for the listing agent

1. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.38% ✓
• Cap rate: 10.31%
• Cash-on-cash: 14.36%
• DSCR: 1.64
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $249,525
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
82 North St	0.35mi	3/1.0	1,109 (0%)	1mo	$250,000	$225	83
93 5th St	0.04mi	3/1.5	1,163 (+5%)	9mo	$220,000	$189	81
180 Central Ave	0.20mi	3/2.0	1,037 (-6%)	6mo	$245,000	$236	71
209 Boswell Ave	0.39mi	3/1.0	1,088 (-2%)	14mo	$265,000	$244	67
300 Central Ave	0.21mi	4/1.0 (+1)	1,022 (-8%)	10mo	$270,000	$264	64
51 N Cliff St	0.67mi	2/1.5 (-1)	1,053 (-5%)	4mo	$134,900	$128	50
19 Treadway Ave	0.72mi	3/2.0	1,057 (-5%)	8mo	$201,250	$190	48
85 Mohegan Park Rd	0.48mi	3/2.5	1,216 (+10%)	10mo	$330,000	$271	47
20 15th St	0.53mi	3/1.5	1,212 (+9%)	13mo	$253,000	$209	47
48 Lake St	0.71mi	4/1.0 (+1)	1,190 (+7%)	5mo	$65,000	$55	46
36 Jennings St	0.41mi	2/1.0 (-1)	960 (-13%)	12mo	$295,000	$307	43
111 Corning Rd	0.66mi	3/1.0	1,260 (+14%)	15mo	$280,000	$222	34

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 · 6.62% rent growth · sell at horizon

5-year hold

• IRR: 9.0%
• Equity multiple: 1.37×
• Total profit: $13,528
• Equity at exit: $19,369

10-year hold

• IRR: 21.3%
• Equity multiple: 3.14×
• Total profit: $77,733
• Equity at exit: $11,231

Cash invested: $36,372 (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 06360

• Home prices YoY: -19.9%
• Rents YoY: 6.6%
• Active inventory: 241
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,793 high
• Mortgage (P&I): −$681
• Tax from tax record: −$246 /mo · $2,952/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $435

Break-even live

Break-even rent $1,242

Max offer price $129,900

Occupancy floor 71%

Sensitivity live

Price	-10% $509	-5% $472	+0% $435	+5% $399	+10% $362
Rent	-10% $294	-5% $365	+0% $435	+5% $506	+10% $577
Rate	-1.0pp $501	-0.5pp $468	base $435	+0.5pp $402	+1.0pp $367

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
159 Hickory St Norwich, CT	2.0	1.0	702	$1,500	$2.14	44d	1	0.32mi
70 Sandy Ln Norwich, CT	1.0–3.0	1.0–1.5	900	$1,425	$1.58	2d	6	0.67mi
158 Cliff St Unit 2 Norwich, CT	3.0	1.0	700	$1,700	$2.43	14d	1	0.69mi
33 Lake St Unit c Norwich, CT	3.0	1.0	750	$1,450	$1.93	14d	1	0.72mi
25 Boswell Ave Unit 2 Norwich, CT	3.0	1.0	900	$1,900	$2.11	14d	1	0.81mi
502 E Main St Unit 1 Norwich, CT	3.0	1.0	800	$1,750	$2.19	14d	1	0.87mi
51 Broad St Norwich, CT	3.0	1.0	1200	$1,850	$1.54	22d	1	1.01mi
99 Cedar St Norwich, CT	2.0	1.0	800	$1,625	$2.03	12d	1	1.09mi
14-16 Slater Ave Unit 14 Norwich, CT	3.0	1.0	1200	$2,000	$1.67	44d	1	1.11mi
102 Stonington Rd Norwich, CT	2.0	1.0	950	$1,850	$1.95	2d	1	1.18mi
154 Washington St Unit 11 Norwich, CT	2.0	1.0	1100	$1,750	$1.59	44d	1	1.27mi
138 Laurel Hill Ave Unit 2 Norwich, CT	2.0	1.0	1200	$1,690	$1.41	14d	1	1.37mi

Listing history 8 events

1. 2026-06-19
   days on market $129,900 Active 8 DOM
2. 2026-06-18
   days on market $129,900 Active 7 DOM
3. 2026-06-17
   days on market $129,900 Active 6 DOM
4. 2026-06-16
   days on market $129,900 Active 5 DOM
5. 2026-06-15
   days on market $129,900 Active 4 DOM
6. 2026-06-14
   days on market $129,900 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $129,900 Active 1 DOM

ⓘ 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: $2,952 · $246/mo
• Projected year-2 tax: $2,952 · $246/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°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: $21,520
• − Mortgage interest: −$7,276
• − Property taxes: −$2,952
• − Insurance: −$650
• − Repairs & maintenance: −$1,722
• − Management: −$1,722
• − Depreciation: −$3,779
• Taxable income: $3,420
• Est. tax owed @ 24.0%: −$821
• After-tax cash flow: $4,404/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: Norwich School District
• NCES district ID: 0903120
• Math proficiency: 19% ▼ -8.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $50,813
• Composite: 21.27/100
• National rank: #8395
• State rank: #139 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

• Census place: Norwich, CT
• County: New London County · 147,197 people
• City population: 37,216
• Metro: Norwich-New London, CT
• Population (ZIP): 37,216
• Household income: $65,539
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 1643.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 56% Hispanic / Latino 21% Two or more races 12% Black 10% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Cuban 1% Dominican 3%
• Common ancestry: Lithuanian 8% Romanian 5% Hispanic 4%
• Foreign-born: 15% · Canada, China
• Languages at home: 77% English-only · Spanish 11% French/Haitian/Cajun 4% Chinese 3%

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: ▼ -65.27%
• Current HPI: 261.8575
• Rent YoY: ▲ 6.62%
• Metro: Norwich-New London, CT
• 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

+96.8% since first listed

14 events — show timeline

• 2026-06-11 Listed $129,900 Smart MLS
• 2025-05-05 Relisted — Smart MLS
• 2025-05-05 Listing Removed — Smart MLS
• 2025-05-05 Listing Removed — Smart MLS
• 2025-04-19 Contingent — Smart MLS
• 2025-03-22 Price Changed $129,900 Smart MLS
• 2025-03-06 Price Changed $139,900 Smart MLS
• 2025-01-28 Price Changed $154,900 Smart MLS
• 2024-10-26 Listed $159,900 Smart MLS
• 2016-06-27 Listing Removed — Smart MLS
• 2016-04-20 Listed $25,000 Smart MLS
• 1988-09-15 Sold (Public Records) $110,000 Public Records
• 1987-07-10 Sold (Public Records) $82,000 Public Records
• 1987-03-24 Sold (Public Records) $66,000 Public Records

Property tax history

-0.0%/yr

Latest (2023): $2,952 · +0.3% YoY. Source: county tax records.