1290 North Rd Lot 23 · Conning Towers-Nautilus Park, CT 06340

$110,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 28 Days on market

Built 1985

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located 2 bedroom mobile home in Groton. Newer central air and furnace. Covered porch to enjoy the warmer weather.

Key facts

• Open floor plan
• New flooring
• New appliances

Tags

• MOVE IN CONDITION
• OPEN FLOOR PLAN
• NEW APPLIANCES
• NEW FLOORING
• FRESHLY PAINTED INTERIOR
• FULLY REMODELED BATH

Property features AI

Finance

• Other: Nearby amenities include basketball court, library, medical facilities, park, tennis courts, and walking distance to bus lines
• HOA & community: Located in Long Cove MHP

Exterior

• Parking: On-street parking; 1 total parking space
• Utilities: Public water connected; Septic system; Electric hot water; Above-ground propane tank
• Home design: Single-family home on leased land; Prefab construction; White exterior; Shingle roof
• Construction: Prefab construction; No foundation listed
• Exterior features: Underground utilities; Sidewalk; Shed; Covered deck; Level lot

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Propane fuel
• Interior features: Pre-wired for cable; Open floor plan; No basement
• Laundry & utility: Washer and dryer included; Laundry located in hall on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $962 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Groton School District (suburban): math 32% / reading 50% proficiency, ranked #96 of 153 in CT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.8%/yr); 92 active listings in the ZIP; solid renter incomes; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $16k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $110k implies a 588% gain — meaningful room to come down on a strong offer.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.86% ✓
• Cap rate: 16.79%
• Cash-on-cash: 37.49%
• DSCR: 2.67
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.75% rent growth · sell at horizon

5-year hold

• IRR: 34.2%
• Equity multiple: 2.46×
• Total profit: $44,979
• Equity at exit: $16,401

10-year hold

• IRR: 41.5%
• Equity multiple: 5.04×
• Total profit: $124,403
• Equity at exit: $9,511

Cash invested: $30,800 (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 06340

• Home prices YoY: -27.9%
• Rents YoY: 3.8%
• Active inventory: 92
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,042 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$28 /mo · $335/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $962

Break-even live

Break-even rent $824

Max offer price $110,000

Occupancy floor 48%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $110,000 Active 28 DOM
2. 2026-06-18
   days on market $110,000 Active 27 DOM
3. 2026-06-17
   days on market $110,000 Active 26 DOM
4. 2026-06-16
   days on market $110,000 Active 25 DOM
5. 2026-06-15
   days on market $110,000 Active 24 DOM
6. 2026-06-14
   days on market $110,000 Active 22 DOM
7. 2026-06-13
   days on market $110,000 Active 21 DOM
8. 2026-06-10
   days on market $110,000 Active 19 DOM
9. 2026-06-09
   days on market $110,000 Active 18 DOM
10. 2026-06-08
    days on market $110,000 Active 17 DOM
11. 2026-06-07
    days on market $110,000 Active 16 DOM
12. 2026-06-05
    pricedays on market $110,000 Active 13 DOM
13. 2026-06-03
    days on market $125,900 Active 12 DOM
14. 2026-06-02
    days on market $125,900 Active 11 DOM
15. 2026-06-01
    days on market $125,900 Active 10 DOM
16. 2026-05-31
    days on market $125,900 Active 9 DOM
17. 2026-05-30
    days on market $125,900 Active 8 DOM
18. 2026-05-01
    listed $125,900 Active
19. 2020-07-17
    soldstatus $16,000 Closed 127-char remark

    Show marketing remark (127 chars)

    Conveniently located 2 bedroom mobile home in Groton. Newer central air and furnace. Covered porch to enjoy the warmer weather.

20. 2020-06-19
    historical Under Contract - Continue to Show 127-char remark

    Show marketing remark (127 chars)

    Conveniently located 2 bedroom mobile home in Groton. Newer central air and furnace. Covered porch to enjoy the warmer weather.

21. 2020-06-05
    price $19,900 127-char remark

    Show marketing remark (127 chars)

    Conveniently located 2 bedroom mobile home in Groton. Newer central air and furnace. Covered porch to enjoy the warmer weather.

22. 2020-05-14
    listed $25,000 Active 127-char remark

    Show marketing remark (127 chars)

    Conveniently located 2 bedroom mobile home in Groton. Newer central air and furnace. Covered porch to enjoy the warmer weather.

23. 2019-10-01
    status Under Contract 161-char remark

    Show marketing remark (161 chars)

    New central air system newer furnace open floor plan large storage unit great condition. Centrally located off or Route 117 in Groton Priced to sell won't last!!

24. 2019-08-15
    soldstatus $19,900 Closed 161-char remark

    Show marketing remark (161 chars)

    New central air system newer furnace open floor plan large storage unit great condition. Centrally located off or Route 117 in Groton Priced to sell won't last!!

25. 2019-08-01
    historical 161-char remark

    Show marketing remark (161 chars)

    New central air system newer furnace open floor plan large storage unit great condition. Centrally located off or Route 117 in Groton Priced to sell won't last!!

26. 2019-07-09
    listed $19,900 Active 161-char remark

    Show marketing remark (161 chars)

    New central air system newer furnace open floor plan large storage unit great condition. Centrally located off or Route 117 in Groton Priced to sell won't last!!

27. 2013-11-04
    soldstatus $13,000
28. 2011-07-27
    soldstatus $15,000
29. 2011-01-07
    soldstatus $15,000

ⓘ 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: $335 · $28/mo
• Projected year-2 tax: $1,344 · $112/mo
• Expected delta: +$1,010/yr (+$84/mo · 301.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,499
• − Mortgage interest: −$6,162
• − Property taxes: −$335
• − Insurance: −$550
• − Repairs & maintenance: −$1,960
• − Management: −$1,960
• − Depreciation: −$3,200
• Taxable income: $10,333
• Est. tax owed @ 24.0%: −$2,480
• After-tax cash flow: $9,067/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: Groton School District
• NCES district ID: 0901770
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $60,709
• Composite: 36.28/100
• National rank: #4702
• State rank: #96 of 153 in CT

Livability — Conning Towers-Nautilus Park

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: New London County · 147,197 people
• Metro: Norwich-New London, CT
• Population (ZIP): 29,863
• Household income: $81,792
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 1710.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 11% Asian 7% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 2% Other Indo-European 2%

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: ▼ -97.61%
• Current HPI: 252.846
• Rent YoY: ▲ 3.75%
• 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

+739.3% since first listed

12 events — show timeline

• 2026-05-01 Listed $125,900 Smart MLS
• 2020-07-17 Sold (MLS) $16,000 Smart MLS
• 2020-06-19 Contingent — Smart MLS
• 2020-06-05 Price Changed $19,900 Smart MLS
• 2020-05-14 Listed $25,000 Smart MLS
• 2019-10-01 Pending — Smart MLS
• 2019-08-15 Sold (MLS) $19,900 Smart MLS
• 2019-08-01 Listing Removed — Smart MLS
• 2019-07-09 Listed $19,900 Smart MLS
• 2013-11-04 Sold (Public Records) $13,000 Public Records
• 2011-07-27 Sold (Public Records) $15,000 Public Records
• 2011-01-07 Sold (Public Records) $15,000 Public Records

Property tax history

+3.6%/yr

Latest (2022): $335 · +17.5% YoY. Source: county tax records.