48 Linden Ave N

Westbrook, CT 06498

$149,500B

1 bd · 1.0 ba · 756 sqft · Built 2011 · Manufactured · Under Contract · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,633/mo
• Mortgage (P&I): −$784
• Tax + insurance: −$181
• HOA: −$0
• Vac / Maint / Mgmt: −$553
• Net cashflow: $1,116/mo
• Annual: $13,390/yr
• Cap rate: 15.25%
• Cash-on-cash: 31.99%
• DSCR: 2.42
• 1% rule: 1.76%
• Cash to close: $41,860

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $150k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Westbrook School District (suburban): math 51% / reading 69% proficiency, ranked #49 of 153 in CT (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 30 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.