57 Chapman St · Willimantic, CT 06226

$170,000

7 bd · 3.0 ba · 1,668 sqft · MultiFamily public records · 48 Days on market

Built 1900 6,534 sqft lot Est $259k · 34% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Investment opportunity at 57 Chapman St, Willimantic, CT. This 3-unit features a spacious 3-bedroom, 1-bathroom unit and two 2-bedroom, 1-bathroom units. Ideal for investors or those looking to create a multi-family residence, this property has great potential with ample space for renovations. Located in a convenient area close to amenities, this property is perfect for those looking to maximize their investment. Schedule a viewing today and explore the possibilities!

Key facts

• Two 2-bedroom units
• 6,534 sq ft lot
• Built 1900

Tags

• SPACIOUS 3-BEDROOM UNIT
• TWO 2-BEDROOM UNITS
• AMPLE SPACE FOR RENOVATIONS

Property features AI

Finance

• Other: Assessed value provided (excluded from detailed financial breakdown)
• Financial info: Multi-unit property with 3 units; Living area recorded as 1668 square feet
• HOA & community: No HOA details provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water connected; Public sewer connected; Gas available in street for heating
• Home design: Multi-family 3-family property
• Construction: Frame construction; Stone foundation; Built date not provided
• Exterior features: City views; Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 7 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air heating; 40-gallon hot water tank (on-site)
• Interior features: 16 total rooms; Full basement; Walk-up attic
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $928/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.9% 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.

Location & tenants

• 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.
• Market conditions: 39 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• At $5,018/mo this rent would consume 128% of the median local household income ($47k/yr) (locally 1122% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 19y ago; this cycle's ask is 13% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $130k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 55% 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 $164,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1900 — 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 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 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: 2.95% ✓
• Cap rate: 25.95%
• Cash-on-cash: 70.19%
• DSCR: 4.12
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $258,540
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
57 Chapman St	0.00mi	7/3.0	1,668 (0%)	0mo	$165,000	$99	100
96 South St	0.66mi	6/2.0 (-1)	1,736 (+4%)	8mo	$275,000	$158	46
87 Hayden St	0.75mi	6/2.0 (-1)	1,546 (-7%)	11mo	$240,000	$155	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 69.7%
• Equity multiple: 4.15×
• Total profit: $149,855
• Equity at exit: $25,348

10-year hold

• IRR: 73.8%
• Equity multiple: 8.55×
• Total profit: $359,144
• 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 06226

• Home prices YoY: -9.3%
• Active inventory: 39
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $5,018 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$218 /mo · $2,613/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,054
• Net cashflow: $2,784

Break-even live

Break-even rent $1,494

Max offer price $170,000

Occupancy floor 40%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,016
Total (3 units)			$5,018

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: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 Spring St Willimantic, CT	6.0	2.0	1955	$4,800	$2.46	44d	1	0.70mi

Listing history 30 events

1. 2026-04-30
   status Under Contract
2. 2026-03-13
   price $170,000
3. 2026-03-13
   listed $150,000 Active
4. 2025-08-10
   historical
5. 2025-06-09
   listed $179,925 Active
6. 2025-05-13
   historical
7. 2025-03-27
   price $180,000
8. 2025-03-12
   price $199,900
9. 2025-03-11
   status Active
10. 2025-02-17
    status Under Contract
11. 2024-12-31
    status Active
12. 2024-12-18
    status Under Contract
13. 2024-11-30
    listed $200,000 Active
14. 2024-11-21
    historical
15. 2024-11-20
    status Active
16. 2024-08-30
    status Under Contract
17. 2024-07-02
    listed $200,000 Active
18. 2022-01-03
    soldstatus $130,000
19. 2013-02-20
    historical
20. 2012-02-20
    listed $65,000
21. 2011-01-31
    historical
22. 2010-08-10
    historical
23. 2010-07-20
    listed $29,900
24. 2010-07-02
    historical
25. 2010-02-10
    listed $49,900
26. 2009-07-02
    listed $59,900
27. 2009-06-25
    historical
28. 2008-06-25
    listed $64,900
29. 2008-06-22
    historical
30. 2007-06-22
    listed $94,900

ⓘ 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: $2,613 · $218/mo
• Projected year-2 tax: $3,126 · $260/mo
• Expected delta: +$512/yr (+$43/mo · 19.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,216
• − Mortgage interest: −$9,523
• − Property taxes: −$2,613
• − Insurance: −$850
• − Repairs & maintenance: −$4,817
• − Management: −$4,817
• − Depreciation: −$4,945
• Taxable income: $32,650
• Est. tax owed @ 24.0%: −$7,836
• After-tax cash flow: $25,574/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: Windham School District
• NCES district ID: 0905190
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $40,956
• Composite: 17.01/100
• National rank: #9128
• State rank: #143 of 153 in CT

Livability — Willimantic

• Score: 85/100
• State rank: #3
• US rank: #487

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willimantic, CT
• County: Windham County · 30,529 people
• City population: 19,344
• Metro: Worcester, MA-CT
• Population (ZIP): 19,344
• Household income: $47,162
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 1122.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 45% White 44% Two or more races 20% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 30% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Slovak 1%
• Foreign-born: 9% · Canada, Guatemala, China
• Languages at home: 62% English-only · Spanish 33% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -31.01%
• Current HPI: 301.9706
• Rent YoY: —
• Metro: Worcester, MA-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

+79.1% since first listed

30 events — show timeline

• 2026-04-30 Pending — Smart MLS
• 2026-03-13 Price Changed $170,000 Smart MLS
• 2026-03-13 Listed $150,000 Smart MLS
• 2025-08-10 Listing Removed — Smart MLS
• 2025-06-09 Listed $179,925 Smart MLS
• 2025-05-13 Listing Removed — Smart MLS
• 2025-03-27 Price Changed $180,000 Smart MLS
• 2025-03-12 Price Changed $199,900 Smart MLS
• 2025-03-11 Relisted — Smart MLS
• 2025-02-17 Pending — Smart MLS
• 2024-12-31 Relisted — Smart MLS
• 2024-12-18 Pending — Smart MLS
• 2024-11-30 Listed $200,000 Smart MLS
• 2024-11-21 Listing Removed — Smart MLS
• 2024-11-20 Relisted — Smart MLS
• 2024-08-30 Pending — Smart MLS
• 2024-07-02 Listed $200,000 Smart MLS
• 2022-01-03 Sold (Public Records) $130,000 Public Records
• 2013-02-20 Listing Removed — Smart MLS
• 2012-02-20 Listed $65,000 Smart MLS
• 2011-01-31 Listing Removed — Smart MLS
• 2010-08-10 Listing Removed — Smart MLS
• 2010-07-20 Listed $29,900 Smart MLS
• 2010-07-02 Listing Removed — Smart MLS
• 2010-02-10 Listed $49,900 Smart MLS
• 2009-07-02 Listed $59,900 Smart MLS
• 2009-06-25 Listing Removed — Smart MLS
• 2008-06-25 Listed $64,900 Smart MLS
• 2008-06-22 Listing Removed — Smart MLS
• 2007-06-22 Listed $94,900 Smart MLS

Property tax history

+0.8%/yr

Latest (2023): $2,613 · +1.5% YoY. Source: county tax records.