None · South Coventry, CT 06238

$275,000

4 bd · 2.0 ba · 1,936 sqft · MultiFamily public records · 2 Days on market

Built 1840 0.34 ac lot $142/sqft · 34% below area Est $420k · 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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +7.1/10.0
• Schools +5.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Opportunity awaits in this spacious two-family property set on a picturesque lot surrounded by mature trees and just moments from the Coventry lake. Offering a unique blend of character, outdoor space, and income potential, this property is ideal for owner-occupants, investors, or multi-generational living. The home features separate living spaces with generous room sizes, abundant natural light, and classic New England charm throughout. A detached outbuilding/garage provides additional storage or workshop potential, while the expansive yard offers room for gardening, recreation, and outdoor entertaining. Stone walls, terraced landscaping, and a fenced yard add to the property's appeal and

Key facts

• Income potential
• Picturesque lot
• Outdoor space

Tags

• TWO-FAMILY PROPERTY
• PICTURESQUE LOT
• MATURE TREES
• COVENTRY LAKE
• OUTDOOR SPACE
• INCOME POTENTIAL

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Private well water; Public sewer connected; Electric service (standard)
• Home design: Multi-family property (2-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Living area approximately 1936 sq ft (public record)
• Exterior features: Stone wall; Patio; Located in a historic district; Clapboard siding

Interior

• Bedrooms: 5 bedrooms total
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heat; Oil and propane fuel; fuel tank located in basement; Hot water: other
• Interior features: Partial basement; Attic with hatch access; 11 total rooms; Two-unit layout (2-family)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $740 ($9k/yr) — positive. Per door: $370/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).

Location & tenants

• Location reads 70/100 on livability (#97 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D+, amenities F, commute F.
• Coventry School District (rural): math 57% / reading 71% proficiency, ranked #30 of 153 in CT (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Coventry Grammar School (375 students, 24% FRL); Coventry Academy (18 students, 0% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: 59 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y 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 $118k; list at $275k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1840 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 48% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $275,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1840 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.21% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.54%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (median comp): $419,643
• List price: $275,000
• Delta: -10.64%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.9%
• Equity multiple: 1.03×
• Total profit: $2,624
• Equity at exit: $41,003

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $63,154
• Equity at exit: $23,777

Cash invested: $77,000 (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 06238

• Home prices YoY: -31.6%
• Active inventory: 59
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $3,320 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$326 /mo · $3,910/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$697
• Net cashflow: $740

Break-even live

Break-even rent $2,383

Max offer price $275,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$3,320
Total (2 units)			$3,320

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
955 Main St Coventry, CT	4.0	2.0	1750	$2,650	$1.51	3d	1	0.61mi

Listing history 11 events

1. 2026-06-15
   status $275,000 Under Contract 2 DOM
2. 2026-06-13
   statusdays on market $275,000 Active 2 DOM
3. 2026-06-10
   pricestatuslisting id $275,000 Coming Soon 1 DOM
4. 2026-05-15
   historical
5. 2026-05-07
   listed $375,000 Active
6. 2026-05-05
   historical
7. 2024-07-29
   historical $1,495
8. 2024-07-29
   historical $1,495
9. 2024-07-25
   listed $1,495
10. 2024-07-25
    listed $2,195
11. 2001-07-13
    soldstatus $118,000

ⓘ 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: $3,910 · $326/mo
• Projected year-2 tax: $4,898 · $408/mo
• Expected delta: +$988/yr (+$82/mo · 25.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 48% 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: $39,840
• − Mortgage interest: −$15,404
• − Property taxes: −$3,910
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,187
• − Management: −$3,187
• − Depreciation: −$8,000
• Taxable income: $4,776
• Est. tax owed @ 24.0%: −$1,146
• After-tax cash flow: $7,737/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: Coventry School District
• NCES district ID: 0900960
• Math proficiency: 57% ▼ -11.00%
• Reading proficiency: 71% ▼ -6.00%
• Median HH income: $88,074
• Composite: 57.98/100
• National rank: #1037
• State rank: #30 of 153 in CT

Livability — South Coventry

• Score: 70/100
• State rank: #97
• US rank: #7545

Category grades

Amenities F Commute F Cost of living C+ 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: South Coventry, CT
• Population (ZIP): 12,267

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Common ancestry: Romanian 9% Lithuanian 7% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 3% French/Haitian/Cajun 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Capitol

• 2024 margin: Strong D (+21.9) · D 60.1% · R 38.2% · Other 1.7%
• All cycles: 2024: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.22%
• Current HPI: 258.0578
• 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

+133.1% since first listed

11 events — show timeline

• 2026-06-13 Pending — Smart MLS
• 2026-06-12 Listed $275,000 Smart MLS
• 2026-06-10 Coming Soon $275,000 Smart MLS
• 2026-05-15 Listing Removed — Smart MLS
• 2026-05-07 Listed $375,000 Smart MLS
• 2026-05-05 Coming Soon — Smart MLS
• 2024-07-29 Rental Removed $1,495 TURBOTENANT
• 2024-07-29 Rental Removed $1,495 TURBOTENANT
• 2024-07-25 Listed for Rent $1,495 TURBOTENANT
• 2024-07-25 Listed for Rent $2,195 TURBOTENANT
• 2001-07-13 Sold (Public Records) $118,000 Public Records

Property tax history

+0.5%/yr

Latest (2023): $3,910 · +1.9% YoY. Source: county tax records.