136 Hunters Rd Lot 148 · Norwich, CT 06360

$92,500

2 bd · 1.5 ba · 934 sqft · Manufactured public records · 91 Days on market

Built 1986 $99/sqft · 5% below area Est $97k · 5% under $490/mo HOA · 30% of rent

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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 +25.6/30.0
• 1% rule +10.0/10.0
• ARV discount +9.8/15.0
• DSCR +8.5/10.0
• 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 MLS

This 2 bedroom, 1 1/2 bath manufactured home is in one of the area's most desirable 55+ communities. Recent updates include, 3 year old roof. New hot water heater, dishwasher and exterior skirt installed in Jan. 2026. This is an estate sale, property being sold AS IS. Subject to probate approval. Pet policy allows for 1 cat but no dogs.

Key facts

• New hot water heater
• New dishwasher
• 3 year old roof

Tags

• 3 YEAR OLD ROOF
• NEW HOT WATER HEATER
• NEW DISHWASHER
• EXTERIOR SKIRT INSTALLED

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $92k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• Recommended offer: $84k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• This rent runs 30% 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 $640 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $26k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: flood insurance adds $66/mo; HOA is 30% of rent.
• Climate carrying-cost: severe flood risk; major wind risk, 59% 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 $84,175 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.77% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.10%
• DSCR: 1.45
• GRM: 4.7

CMA / ARV

• ARV (median comp): $97,494
• List price: $92,500
• Delta: -5.12%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.62% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.05×
• Total profit: $1,186
• Equity at exit: $13,792

10-year hold

• IRR: 15.8%
• Equity multiple: 2.63×
• Total profit: $42,179
• Equity at exit: $7,998

Cash invested: $25,900 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,639 medium
• Mortgage (P&I): −$485
• Tax from tax record: −$64 /mo · $762/yr
• Insurance: −$39
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$490
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $152

Break-even live

Break-even rent $1,448

Max offer price $92,500

Occupancy floor 86%

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: $23,125
• Closing costs: $2,775
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Hunters Rd Apt 1 Norwich, CT	2.0	1.0	720	$1,850	$2.57	13d	1	0.45mi
79 S B St Unit B Taftville, CT	2.0	1.0	1100	$1,600	$1.45	13d	1	0.54mi
70 Sandy Ln Norwich, CT	1.0–3.0	1.0–1.5	900	$1,225	$1.36	1d	6	1.06mi
17 Sylvester St Norwich, CT	1.0	1.0	592	$1,350	$2.28	13d	1	1.14mi

HOA detail

• Monthly dues: $490 · $5,880/yr
• Likely covers: water

Listing history 11 events

1. 2026-06-09
   status $92,500 Under Contract 91 DOM
2. 2026-06-08
   days on market $92,500 Under Contract - Continue to Show 91 DOM
3. 2026-06-07
   days on market $92,500 Under Contract - Continue to Show 90 DOM
4. 2026-06-02
   days on market $92,500 Under Contract - Continue to Show 85 DOM
5. 2026-06-01
   days on market $92,500 Under Contract - Continue to Show 84 DOM
6. 2026-05-31
   days on market $92,500 Under Contract - Continue to Show 83 DOM
7. 2026-05-30
   days on market $92,500 Under Contract - Continue to Show 82 DOM
8. 2026-05-08
   historical Under Contract - Continue to Show 338-char remark

   Show marketing remark (338 chars)

   This 2 bedroom, 1 1/2 bath manufactured home is in one of the area's most desirable 55+ communities. Recent updates include, 3 year old roof. New hot water heater, dishwasher and exterior skirt installed in Jan. 2026. This is an estate sale, property being sold AS IS. Subject to probate approval. Pet policy allows for 1 cat but no dogs.

9. 2026-04-22
   status Active 338-char remark

   Show marketing remark (338 chars)

   This 2 bedroom, 1 1/2 bath manufactured home is in one of the area's most desirable 55+ communities. Recent updates include, 3 year old roof. New hot water heater, dishwasher and exterior skirt installed in Jan. 2026. This is an estate sale, property being sold AS IS. Subject to probate approval. Pet policy allows for 1 cat but no dogs.

10. 2026-04-09
    historical Under Contract - Continue to Show 338-char remark

    Show marketing remark (338 chars)

    This 2 bedroom, 1 1/2 bath manufactured home is in one of the area's most desirable 55+ communities. Recent updates include, 3 year old roof. New hot water heater, dishwasher and exterior skirt installed in Jan. 2026. This is an estate sale, property being sold AS IS. Subject to probate approval. Pet policy allows for 1 cat but no dogs.

11. 2026-03-08
    listed $92,500 Active 338-char remark

    Show marketing remark (338 chars)

    This 2 bedroom, 1 1/2 bath manufactured home is in one of the area's most desirable 55+ communities. Recent updates include, 3 year old roof. New hot water heater, dishwasher and exterior skirt installed in Jan. 2026. This is an estate sale, property being sold AS IS. Subject to probate approval. Pet policy allows for 1 cat but no dogs.

ⓘ 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: $762 · $64/mo
• Projected year-2 tax: $1,371 · $114/mo
• Expected delta: +$609/yr (+$51/mo · 79.9%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $19,673
• − Mortgage interest: −$5,181
• − Property taxes: −$762
• − Insurance: −$1,260
• − Repairs & maintenance: −$1,574
• − Management: −$1,574
• − HOA: −$5,880
• − Depreciation: −$2,691
• Taxable income: $751
• Est. tax owed @ 24.0%: −$180
• After-tax cash flow: $1,638/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

4 events — show timeline

• 2026-05-08 Contingent — Smart MLS
• 2026-04-22 Relisted — Smart MLS
• 2026-04-09 Contingent — Smart MLS
• 2026-03-08 Listed $92,500 Smart MLS

Property tax history

-1.0%/yr

Latest (2023): $762 · -0.8% YoY. Source: county tax records.