337 Tuckie Rd

Willimantic, CT 06256

$78,000B-

3 bd · 2.0 ba · 924 sqft · Built 1994 · Manufactured · Under Contract · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,570/mo
• Mortgage (P&I): −$409
• Tax + insurance: −$78
• HOA: −$575
• Vac / Maint / Mgmt: −$330
• Net cashflow: $178/mo
• Annual: $2,135/yr
• Cap rate: 9.03%
• Cash-on-cash: 9.78%
• DSCR: 1.44
• 1% rule: 2.01%
• Cash to close: $21,840

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $78k.
• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $426 of equity ($539 loan paydown + $-113 appreciation (-0.1% local appreciation)).
• Location reads 85/100 on livability (#3 in CT, #487 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, employment F.
• 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.
• Watch-outs: HOA is 37% of rent.
• 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).
• 3 sale attempts since 6y 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 $57k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-0.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 9.0% vs local median 4.6% in Willimantic — 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

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.