32 Nashua St · Norwich, CT 06360

$94,000

3 bd · 1.0 ba · 924 sqft · Manufactured public records · 77 Days on market

Built 1982 $102/sqft · 18% above area Est $80k · 18% over $470/mo HOA · 23% of rent

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Why this score? — see what drove the C+ 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
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Seller Financing Available!!! Welcome to this beautifully updated mobile home in the desirable Pleasure Valley Homes community! This turnkey property has been thoughtfully upgraded, offering modern comfort and convenience throughout. Step inside to find a refreshed interior featuring brand new appliances, stylish fixtures, and a clean, contemporary feel. The home has been enhanced with propane cooking and heating, providing efficient and reliable performance, Whether you're preparing meals in the updated kitchen or relaxing in the cozy living space, every detail has been designed for ease and functionality. Perfect for those seeking low maintenance living, this move in ready home combines recent upgrades with a welcoming community setting. Don't miss the opportunity to enjoy comfort, efficiency, and style all in one place!

Key facts

• Built 1982
• Listed 77 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $94k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• Recommended offer: $88k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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; 1 comparable units currently listed for rent nearby; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• This rent runs 37% 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 $650 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 ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $94k implies a 370% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,360 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.14% ✓
• Cap rate: 13.18%
• Cash-on-cash: 24.61%
• DSCR: 2.09
• GRM: 3.9

CMA / ARV

• ARV (median comp): $79,844
• List price: $94,000
• Delta: 17.73%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 23.5%
• Equity multiple: 2.03×
• Total profit: $27,008
• Equity at exit: $14,016

10-year hold

• IRR: 34.3%
• Equity multiple: 4.89×
• Total profit: $102,458
• Equity at exit: $8,127

Cash invested: $26,320 (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: 3.9×

Monthly cashflow live

• Estimated rent: $2,011 medium
• Mortgage (P&I): −$493
• Tax from tax record: −$47 /mo · $561/yr
• Insurance: −$39
• HOA: −$470
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $540

Break-even live

Break-even rent $1,328

Max offer price $94,000

Occupancy floor 68%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
88 Taftville-Occum Rd Unit C Norwich, CT	3.0	1.0	1000	$1,950	$1.95	44d	1	1.19mi

HOA detail

• Monthly dues: $470 · $5,640/yr

Listing history 23 events

1. 2026-06-17
   status $94,000 Under Contract 77 DOM
2. 2026-06-17
   days on market $94,000 Under Contract - Continue to Show 77 DOM
3. 2026-06-16
   days on market $94,000 Under Contract - Continue to Show 76 DOM
4. 2026-06-15
   days on market $94,000 Under Contract - Continue to Show 75 DOM
5. 2026-06-14
   days on market $94,000 Under Contract - Continue to Show 73 DOM
6. 2026-06-13
   days on market $94,000 Under Contract - Continue to Show 72 DOM
7. 2026-06-10
   days on market $94,000 Under Contract - Continue to Show 70 DOM
8. 2026-06-09
   days on market $94,000 Under Contract - Continue to Show 69 DOM
9. 2026-06-08
   days on market $94,000 Under Contract - Continue to Show 68 DOM
10. 2026-06-07
    days on market $94,000 Under Contract - Continue to Show 67 DOM
11. 2026-06-02
    days on market $94,000 Under Contract - Continue to Show 62 DOM
12. 2026-06-01
    days on market $94,000 Under Contract - Continue to Show 61 DOM
13. 2026-05-31
    days on market $94,000 Under Contract - Continue to Show 60 DOM
14. 2026-05-30
    days on market $94,000 Under Contract - Continue to Show 59 DOM
15. 2026-05-07
    historical Under Contract - Continue to Show 834-char remark

    Show marketing remark (834 chars)

    Seller Financing Available!!! Welcome to this beautifully updated mobile home in the desirable Pleasure Valley Homes community! This turnkey property has been thoughtfully upgraded, offering modern comfort and convenience throughout. Step inside to find a refreshed interior featuring brand new appliances, stylish fixtures, and a clean, contemporary feel. The home has been enhanced with propane cooking and heating, providing efficient and reliable performance, Whether you're preparing meals in the updated kitchen or relaxing in the cozy living space, every detail has been designed for ease and functionality. Perfect for those seeking low maintenance living, this move in ready home combines recent upgrades with a welcoming community setting. Don't miss the opportunity to enjoy comfort, efficiency, and style all in one place!

16. 2026-04-24
    price $94,000 834-char remark

    Show marketing remark (834 chars)

    Seller Financing Available!!! Welcome to this beautifully updated mobile home in the desirable Pleasure Valley Homes community! This turnkey property has been thoughtfully upgraded, offering modern comfort and convenience throughout. Step inside to find a refreshed interior featuring brand new appliances, stylish fixtures, and a clean, contemporary feel. The home has been enhanced with propane cooking and heating, providing efficient and reliable performance, Whether you're preparing meals in the updated kitchen or relaxing in the cozy living space, every detail has been designed for ease and functionality. Perfect for those seeking low maintenance living, this move in ready home combines recent upgrades with a welcoming community setting. Don't miss the opportunity to enjoy comfort, efficiency, and style all in one place!

17. 2026-04-01
    listed $99,000 Active 834-char remark

    Show marketing remark (834 chars)

    Seller Financing Available!!! Welcome to this beautifully updated mobile home in the desirable Pleasure Valley Homes community! This turnkey property has been thoughtfully upgraded, offering modern comfort and convenience throughout. Step inside to find a refreshed interior featuring brand new appliances, stylish fixtures, and a clean, contemporary feel. The home has been enhanced with propane cooking and heating, providing efficient and reliable performance, Whether you're preparing meals in the updated kitchen or relaxing in the cozy living space, every detail has been designed for ease and functionality. Perfect for those seeking low maintenance living, this move in ready home combines recent upgrades with a welcoming community setting. Don't miss the opportunity to enjoy comfort, efficiency, and style all in one place!

18. 2025-12-15
    historical
19. 2025-11-12
    status Active
20. 2025-11-05
    historical Under Contract - Continue to Show
21. 2025-10-23
    listed $99,000 Active
22. 2000-04-14
    soldstatus $20,000
23. 1999-08-23
    listed $21,900

ⓘ 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: $561 · $47/mo
• Projected year-2 tax: $1,286 · $107/mo
• Expected delta: +$725/yr (+$60/mo · 129.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $24,130
• − Mortgage interest: −$5,265
• − Property taxes: −$561
• − Insurance: −$470
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − HOA: −$5,640
• − Depreciation: −$2,735
• Taxable income: $5,598
• Est. tax owed @ 24.0%: −$1,344
• After-tax cash flow: $5,133/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

+329.2% since first listed

9 events — show timeline

• 2026-05-07 Contingent — Smart MLS
• 2026-04-24 Price Changed $94,000 Smart MLS
• 2026-04-01 Listed $99,000 Smart MLS
• 2025-12-15 Listing Removed — Smart MLS
• 2025-11-12 Relisted — Smart MLS
• 2025-11-05 Contingent — Smart MLS
• 2025-10-23 Listed $99,000 Smart MLS
• 2000-04-14 Sold (MLS) $20,000 Smart MLS
• 1999-08-23 Listed $21,900 Smart MLS

Property tax history

-1.7%/yr

Latest (2023): $561 · -0.7% YoY. Source: county tax records.