227 Montauk Ave · New London, CT 06320

$179,900

4 bd · 1.5 ba · 1,430 sqft · SingleFamily public records · 8 Days on market

Built 1900 6,534 sqft lot Est $355k · 49% 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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +7.2/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors seeking their next project ! Opportunity awaits This property is located near Ocean Beach Park and Harkness Memorial State Park, offering strong potential for those looking to renovate or invest in a desirable coastal area. Convenient location close to local amenities, major routes, and recreational spots. Bring your vision and unlock the possibilities-sold as-is. Please submit highest and best offer by Tuesday at 12:00 PM (noon).

Key facts

• 6,534 sq ft lot
• Built 1900
• Listed 8 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Natural gas
• Home design: Single-family home; Frame construction; Yellow exterior siding (aluminum)
• Construction: Stone foundation; Asphalt shingle roof
• Exterior features: Sidewalk; Porch; Gutters; Stone wall; Level to sloping lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator
• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Steam heat; Hot water supplied by natural gas; Storm windows (energy feature)
• Interior features: Cable pre-wired; Full unfinished basement with concrete floor and hatchway; Walk-up attic
• Laundry & utility: Laundry in basement / lower level

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $375 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 8.8% vs local median 4.3% in New London — 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 74/100 on livability (#66 in CT, #4,772 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A-, crime B+; Watch: employment D+, amenities F, commute F.
• New London School District (urban): math 11% / reading 21% proficiency, ranked #149 of 153 in CT (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: New London High School (math 2% / reading 12%, grade F, #188 of 194 statewide, top 98%, 532 students, 93% FRL) — zoned schools average 93% FRL vs 72% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 69 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• This rent runs 45% of the median local income ($59k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $68k; list at $180k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $179,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.22% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.93%
• DSCR: 1.40
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $354,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
90 School St	0.52mi	4/1.5	1,446 (+1%)	4mo	$359,000	$248	70
335 Ocean Ave	0.31mi	3/1.5 (-1)	1,484 (+4%)	11mo	$360,000	$243	66
12 Sander St	0.39mi	3/2.5 (-1)	1,360 (-5%)	0mo	$380,000	$279	64
78 School St	0.51mi	3/1.5 (-1)	1,411 (-1%)	8mo	$380,000	$269	62
24 Clement St	0.36mi	3/2.0 (-1)	1,317 (-8%)	2mo	$400,000	$304	61
53 Gorton St	0.30mi	3/1.5 (-1)	1,280 (-10%)	4mo	$350,000	$273	60
24 Pine St	0.68mi	4/1.0	1,392 (-3%)	2mo	$385,000	$277	60
11 Colman St	0.50mi	3/2.0 (-1)	1,323 (-8%)	8mo	$259,000	$196	50
23 Strosberg Rd	0.61mi	4/1.0	1,530 (+7%)	11mo	$340,000	$222	49
51 Thames St	0.70mi	3/2.0 (-1)	1,594 (+12%)	5mo	$360,000	$226	37
11 MORTON St	0.73mi	3/1.5 (-1)	1,560 (+9%)	10mo	$375,000	$240	37
35 Thames St	0.69mi	3/2.0 (-1)	1,599 (+12%)	11mo	$90,000	$56	32

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 · 0.7% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.80×
• Total profit: $-10,145
• Equity at exit: $26,824

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $2,863
• Equity at exit: $15,554

Cash invested: $50,372 (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 06320

• Home prices YoY: -20.7%
• Rents YoY: 0.7%
• Active inventory: 69
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,196 high
• Mortgage (P&I): −$943
• Tax from tax record: −$342 /mo · $4,098/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $375

Break-even live

Break-even rent $1,721

Max offer price $179,900

Occupancy floor 78%

Sensitivity live

Price	-10% $477	-5% $426	+0% $375	+5% $324	+10% $273
Rent	-10% $201	-5% $288	+0% $375	+5% $462	+10% $548
Rate	-1.0pp $465	-0.5pp $421	base $375	+0.5pp $328	+1.0pp $281

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
196 Ocean Ave Unit 2 New London, CT	3.0	2.0	1400	$1,900	$1.36	22d	1	0.12mi
86 School St New London, CT	3.0	2.5	1760	$2,900	$1.65	14d	1	0.50mi
13 Thompson Ct New London, CT	3.0	1.0	1000	$1,900	$1.90	44d	1	0.88mi
159 Connecticut Ave New London, CT	3.0	1.0	1047	$1,850	$1.77	44d	1	1.06mi
14 Clark Ln Waterford, CT	3.0	1.5	1230	$2,600	$2.11	14d	1	1.08mi
78 West St Unit 2A New London, CT	4.0	4.0	1250	$1,895	$1.52	22d	1	1.38mi

Listing history 3 events

1. 2026-04-17
   status Under Contract
2. 2026-04-09
   listed $179,900 Active
3. 1997-03-31
   soldstatus $68,000

ⓘ 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: $4,098 · $342/mo
• Projected year-2 tax: $4,098 · $342/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,349
• − Mortgage interest: −$10,077
• − Property taxes: −$4,098
• − Insurance: −$900
• − Repairs & maintenance: −$2,108
• − Management: −$2,108
• − Depreciation: −$5,233
• Taxable income: $1,825
• Est. tax owed @ 24.0%: −$438
• After-tax cash flow: $4,059/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: New London School District
• NCES district ID: 0902820
• Math proficiency: 11% ▼ -11.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $40,640
• Composite: 13.66/100
• National rank: #9502
• State rank: #149 of 153 in CT

Livability — New London

• Score: 74/100
• State rank: #66
• US rank: #4772

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New London, CT
• County: New London County · 147,197 people
• City population: 27,703
• Metro: Norwich-New London, CT
• Population (ZIP): 27,703
• Household income: $59,170
• Rent vs Own: 63.9% rent · 36.1% own
• Severe rent burden: 2014.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 45% Hispanic / Latino 34% Black 13% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 17% Dominican 7%
• Common ancestry: Romanian 3% Hispanic 3% Lithuanian 1%
• Foreign-born: 19% · Canada, Jamaica
• Languages at home: 67% English-only · Spanish 27% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -71.39%
• Current HPI: 273.3024
• Rent YoY: ▲ 0.70%
• 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

+164.6% since first listed

3 events — show timeline

• 2026-04-17 Pending — Smart MLS
• 2026-04-09 Listed $179,900 Smart MLS
• 1997-03-31 Sold (Public Records) $68,000 Public Records

Property tax history

+0.8%/yr

Latest (2023): $4,098 · -0.2% YoY. Source: county tax records.