16 Marlene Dr · Norwich, CT 06339

$169,900

4 bd · 1.0 ba · 1,260 sqft · Manufactured public records · 248 Days on market

Built 1965 0.38 ac lot $135/sqft · 52% below area

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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
• Livability +4.0/5.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

RARE FIND! A 4-bedroom mobile home on its own land. You heard me right. Vinyl sided, newer furnace in a beautiful park where each lot is privately owned. This home has been well cared for by the current tenants in place and is ready for its next new owner. Keep the tenants in place as a great rental property or live in it yourself. 3 decent sized bedrooms, one is a little on the smaller side, living room, kitchen and even a sunroom. Plenty of space to stretch out in this charmer. Come see for yourself.

Key facts

• Newer furnace
• Sunroom
• Privately owned lots

Tags

• NEWER FURNACE
• PRIVATELY OWNED LOTS
• SUNROOM

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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+.
• Ledyard School District (rural): math 34% / reading 49% proficiency, ranked #92 of 153 in CT (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 36 active listings in the ZIP; 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 $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 248 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $170k implies a 580% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 74% 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 $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.61% ✓
• Cap rate: 13.60%
• Cash-on-cash: 26.10%
• DSCR: 2.16
• GRM: 5.2

CMA / ARV

• ARV (median comp): $351,900
• List price: $169,900
• Delta: -51.72%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 19.8%
• Equity multiple: 1.81×
• Total profit: $38,382
• Equity at exit: $25,333

10-year hold

• IRR: 28.1%
• Equity multiple: 3.49×
• Total profit: $118,319
• Equity at exit: $14,690

Cash invested: $47,572 (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 06339

• Home prices YoY: -19.4%
• Active inventory: 36
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,728 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$159 /mo · $1,906/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $1,035

Break-even live

Break-even rent $1,418

Max offer price $169,900

Occupancy floor 57%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $169,900 Active 248 DOM
2. 2026-06-18
   days on market $169,900 Active 247 DOM
3. 2026-06-17
   days on market $169,900 Active 246 DOM
4. 2026-06-16
   days on market $169,900 Active 245 DOM
5. 2026-06-15
   days on market $169,900 Active 244 DOM
6. 2026-06-14
   days on market $169,900 Active 242 DOM
7. 2026-06-13
   days on market $169,900 Active 241 DOM
8. 2026-06-10
   days on market $169,900 Active 239 DOM
9. 2026-06-09
   days on market $169,900 Active 238 DOM
10. 2026-06-08
    days on market $169,900 Active 237 DOM
11. 2026-06-07
    days on market $169,900 Active 236 DOM
12. 2026-06-05
    days on market $169,900 Active 233 DOM
13. 2026-06-03
    days on market $169,900 Active 232 DOM
14. 2026-06-02
    days on market $169,900 Active 231 DOM
15. 2026-06-01
    days on market $169,900 Active 230 DOM
16. 2026-05-31
    days on market $169,900 Active 229 DOM
17. 2026-05-30
    days on market $169,900 Active 228 DOM
18. 2026-04-30
    price $169,900 507-char remark

    Show marketing remark (507 chars)

    RARE FIND! A 4-bedroom mobile home on its own land. You heard me right. Vinyl sided, newer furnace in a beautiful park where each lot is privately owned. This home has been well cared for by the current tenants in place and is ready for its next new owner. Keep the tenants in place as a great rental property or live in it yourself. 3 decent sized bedrooms, one is a little on the smaller side, living room, kitchen and even a sunroom. Plenty of space to stretch out in this charmer. Come see for yourself.

19. 2026-04-02
    status Active 507-char remark

    Show marketing remark (507 chars)

    RARE FIND! A 4-bedroom mobile home on its own land. You heard me right. Vinyl sided, newer furnace in a beautiful park where each lot is privately owned. This home has been well cared for by the current tenants in place and is ready for its next new owner. Keep the tenants in place as a great rental property or live in it yourself. 3 decent sized bedrooms, one is a little on the smaller side, living room, kitchen and even a sunroom. Plenty of space to stretch out in this charmer. Come see for yourself.

20. 2026-04-01
    historical 507-char remark

    Show marketing remark (507 chars)

    RARE FIND! A 4-bedroom mobile home on its own land. You heard me right. Vinyl sided, newer furnace in a beautiful park where each lot is privately owned. This home has been well cared for by the current tenants in place and is ready for its next new owner. Keep the tenants in place as a great rental property or live in it yourself. 3 decent sized bedrooms, one is a little on the smaller side, living room, kitchen and even a sunroom. Plenty of space to stretch out in this charmer. Come see for yourself.

21. 2025-10-29
    status Active 507-char remark

    Show marketing remark (507 chars)

    RARE FIND! A 4-bedroom mobile home on its own land. You heard me right. Vinyl sided, newer furnace in a beautiful park where each lot is privately owned. This home has been well cared for by the current tenants in place and is ready for its next new owner. Keep the tenants in place as a great rental property or live in it yourself. 3 decent sized bedrooms, one is a little on the smaller side, living room, kitchen and even a sunroom. Plenty of space to stretch out in this charmer. Come see for yourself.

22. 2025-10-16
    status Under Contract 507-char remark

    Show marketing remark (507 chars)

    RARE FIND! A 4-bedroom mobile home on its own land. You heard me right. Vinyl sided, newer furnace in a beautiful park where each lot is privately owned. This home has been well cared for by the current tenants in place and is ready for its next new owner. Keep the tenants in place as a great rental property or live in it yourself. 3 decent sized bedrooms, one is a little on the smaller side, living room, kitchen and even a sunroom. Plenty of space to stretch out in this charmer. Come see for yourself.

23. 2025-09-26
    listed $189,900 Active 507-char remark

    Show marketing remark (507 chars)

    RARE FIND! A 4-bedroom mobile home on its own land. You heard me right. Vinyl sided, newer furnace in a beautiful park where each lot is privately owned. This home has been well cared for by the current tenants in place and is ready for its next new owner. Keep the tenants in place as a great rental property or live in it yourself. 3 decent sized bedrooms, one is a little on the smaller side, living room, kitchen and even a sunroom. Plenty of space to stretch out in this charmer. Come see for yourself.

24. 2025-02-25
    historical
25. 2025-01-10
    listed $190,000 Active
26. 2017-03-09
    historical
27. 2016-09-13
    listed $140,000
28. 2013-04-19
    soldstatus $25,000
29. 2013-03-31
    historical
30. 2012-11-28
    historical
31. 2012-10-25
    listed $35,000
32. 2012-08-29
    listed $53,000

ⓘ 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: $1,906 · $159/mo
• Projected year-2 tax: $2,771 · $231/mo
• Expected delta: +$865/yr (+$72/mo · 45.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $32,740
• − Mortgage interest: −$9,517
• − Property taxes: −$1,906
• − Insurance: −$850
• − Repairs & maintenance: −$2,619
• − Management: −$2,619
• − Depreciation: −$4,943
• Taxable income: $10,286
• Est. tax owed @ 24.0%: −$2,469
• After-tax cash flow: $9,948/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: Ledyard School District
• NCES district ID: 0902160
• Math proficiency: 34% ▼ -12.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $84,854
• Composite: 39.02/100
• National rank: #4064
• State rank: #92 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): 9,263

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 9% Two or more races 6% Asian 3% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 2%
• Foreign-born: 5% · Canada, China, Jamaica
• Languages at home: 91% English-only · Spanish 5% Chinese 2% Russian/Polish/Slavic 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: ▼ -61.39%
• Current HPI: 255.764
• 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

+220.6% since first listed

15 events — show timeline

• 2026-04-30 Price Changed $169,900 Smart MLS
• 2026-04-02 Relisted — Smart MLS
• 2026-04-01 Listing Removed — Smart MLS
• 2025-10-29 Relisted — Smart MLS
• 2025-10-16 Pending — Smart MLS
• 2025-09-26 Listed $189,900 Smart MLS
• 2025-02-25 Listing Removed — Smart MLS
• 2025-01-10 Listed $190,000 Smart MLS
• 2017-03-09 Listing Removed — Smart MLS
• 2016-09-13 Listed $140,000 Smart MLS
• 2013-04-19 Sold (Public Records) $25,000 Public Records
• 2013-03-31 Listing Removed — Smart MLS
• 2012-11-28 Listing Removed — Smart MLS
• 2012-10-25 Listed $35,000 Smart MLS
• 2012-08-29 Listed $53,000 Smart MLS

Property tax history

+1.1%/yr

Latest (2023): $1,906 · +2.1% YoY. Source: county tax records.