44-46 S Chestnut St · Wauregan, CT 06374

$170,000

6 bd · 2.5 ba · 3,409 sqft · MultiFamily public records · 59 Days on market

Built 1860 0.95 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +3.4/10.0
• Livability +3.3/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

A multi-family home close to town with spacious bedrooms and living space. Plenty of storage and parking. Close to all forms of transportation, schools and shopping. Come check it out today!!

Key facts

• Close to town
• Close to schools
• Plenty of storage

Tags

• MULTI-FAMILY HOME
• PLENTY OF STORAGE
• CLOSE TO TOWN
• CLOSE TO TRANSPORTATION
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $519/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#123 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: health & safety D+, amenities F, commute F.
• Plainfield School District (town): math 24% / reading 41% proficiency, ranked #117 of 153 in CT (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shepard Hill Elementary School (math 27% / reading 27%, grade F, #401 of 553 statewide, top 74%, 300 students, 64% FRL); Plainfield High School (math 17% / reading 42%, grade F, #139 of 194 statewide, top 74%, 535 students, 49% FRL) — zoned schools average 57% FRL vs 37% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 37 active listings in the ZIP; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $179k (51%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; list at $170k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.71% ✓
• Cap rate: 13.62%
• Cash-on-cash: 26.18%
• DSCR: 2.16
• GRM: 4.9

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: 20.0%
• Equity multiple: 1.81×
• Total profit: $38,676
• Equity at exit: $25,348

10-year hold

• IRR: 28.2%
• Equity multiple: 3.50×
• Total profit: $119,206
• Equity at exit: $14,698

Cash invested: $47,600 (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 06374

• Home prices YoY: -1.0%
• Active inventory: 37
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,900 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$290 /mo · $3,484/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $1,038

Break-even live

Break-even rent $1,586

Max offer price $170,000

Occupancy floor 59%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,900
Total (2 units)			$2,900

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-04-03
   status Under Contract
2. 2026-03-19
   status Active
3. 2025-06-04
   status Under Contract
4. 2025-06-02
   price $170,000
5. 2025-06-02
   price $180,000
6. 2025-05-29
   price $189,000
7. 2025-05-22
   price $199,000
8. 2025-05-15
   price $250,000
9. 2025-05-13
   price $275,000
10. 2025-05-07
    price $299,000
11. 2025-05-05
    price $325,000
12. 2025-04-30
    price $339,000
13. 2025-04-22
    listed $349,000 Active
14. 1998-01-20
    soldstatus $82,000

ⓘ 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: $3,484 · $290/mo
• Projected year-2 tax: $3,561 · $297/mo
• Expected delta: +$77/yr (+$6/mo · 2.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 15 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: $34,800
• − Mortgage interest: −$9,523
• − Property taxes: −$3,484
• − Insurance: −$850
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − Depreciation: −$4,945
• Taxable income: $10,430
• Est. tax owed @ 24.0%: −$2,503
• After-tax cash flow: $9,957/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: Plainfield School District
• NCES district ID: 0903270
• Math proficiency: 24% ▼ -16.00%
• Reading proficiency: 41% ▼ -17.00%
• Median HH income: $62,056
• Composite: 29.36/100
• National rank: #6531
• State rank: #117 of 153 in CT

Livability — Wauregan

• Score: 66/100
• State rank: #123
• US rank: #12351

Category grades

Amenities F Commute F Cost of living A Crime A+ Employment A- Housing A+ Health & safety D+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wauregan, CT
• City population: 184
• Population (ZIP): 7,884

Population outlook (Northeastern Connecticut County) Hauer SSP2

• By 2040: 104,160

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 18% Slovak 3% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · French/Haitian/Cajun 4% Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Northeastern Connecticut

• 2024 margin: R (+15.4) · D 41.5% · R 57.0% · Other 1.5%
• All cycles: 2024: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.18%
• Current HPI: 311.7013
• 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

+107.3% since first listed

14 events — show timeline

• 2026-04-03 Pending — Smart MLS
• 2026-03-19 Relisted — Smart MLS
• 2025-06-04 Pending — Smart MLS
• 2025-06-02 Price Changed $170,000 Smart MLS
• 2025-06-02 Price Changed $180,000 Smart MLS
• 2025-05-29 Price Changed $189,000 Smart MLS
• 2025-05-22 Price Changed $199,000 Smart MLS
• 2025-05-15 Price Changed $250,000 Smart MLS
• 2025-05-13 Price Changed $275,000 Smart MLS
• 2025-05-07 Price Changed $299,000 Smart MLS
• 2025-05-05 Price Changed $325,000 Smart MLS
• 2025-04-30 Price Changed $339,000 Smart MLS
• 2025-04-22 Listed $349,000 Smart MLS
• 1998-01-20 Sold (Public Records) $82,000 Public Records

Property tax history

-0.5%/yr

Latest (2022): $3,484 · -1.0% YoY. Source: county tax records.