10 Country Dr · Norwich, CT 06360

$250,000

3 bd · 1.0 ba · 1,229 sqft · SingleFamily public records · 5 Days on market

Built 1953 10,018 sqft lot Est $305k · 18% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +11.9/30.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• 1% rule +3.5/10.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Best and final offers due by June 1 at 7:00 pm. Set in one of Norwich's sweetest neighborhoods, this enchanting Cape Cod-style home is brimming with classic, nostalgic charm. Boasting original vintage details and character throughout, this property is the perfect project for a homeowner looking to make it their own. The main level features hardwood floors, a traditional bedroom, and a versatile 11'x9' room with a closet, perfect for use as a home office, guest bedroom, dining room, or den. While the home is officially recorded as a 3-bedroom with the town, it easily lives like a 4-bedroom. Additional features include a roof installed in 2007 and an expansive screened-in porch accessed right

Key facts

• Screened-in porch
• Recreation room
• Cape cod style

Tags

• CAPE COD STYLE
• ORIGINAL VINTAGE DETAILS
• HARDWOOD FLOORS
• SCREENED-IN PORCH
• RECREATION ROOM

Property features AI

Exterior

• Parking: Under-house garage; Driveway parking; Total 2 parking spaces; 1 garage
• Utilities: Public water connected; Septic sewer; Oil fuel (tank located in basement)
• Home design: Single-family home
• Construction: Frame construction; Vinyl siding; Concrete foundation; Asphalt shingle roof; Red exterior color
• Exterior features: Screened porch and porch; Corner lot in a subdivision with trees

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heat; Oil-fired hot water and tankless hot water
• Interior features: Cable available; Full basement with garage access, interior access, partially finished areas, and walk-out; Attic accessible via hatch
• Laundry & utility: Washer and dryer included; Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-62 ($-741/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (15.3% below list).
• Recommended offer: $212k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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 39% 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,753 (15.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.85% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.06%
• DSCR: 0.95
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $304,792
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Country Dr	0.02mi	2/1.0 (-1)	1,212 (-1%)	21mo	$275,000	$227	74
220 Old Salem Rd	0.09mi	3/1.0	1,331 (+8%)	12mo	$336,000	$252	72
10 Stone Cliff Ln	0.17mi	4/1.0 (+1)	1,306 (+6%)	15mo	$323,500	$248	64
271 Leffingwell Rd Lot 12	0.43mi	2/1.0 (-1)	1,180 (-4%)	6mo	$67,500	$57	63
137 Old Salem Rd	0.34mi	2/1.0 (-1)	1,185 (-4%)	16mo	$313,000	$264	59
129 Old Salem Rd	0.38mi	3/1.0	1,392 (+13%)	20mo	$139,000	$100	43
7 Wawecus Hill Rd	0.55mi	3/2.0	1,412 (+15%)	11mo	$410,000	$290	36

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 · 6.62% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.48×
• Total profit: $-36,415
• Equity at exit: $37,276

10-year hold

• IRR: -0.2%
• Equity multiple: 0.98×
• Total profit: $-1,291
• Equity at exit: $21,615

Cash invested: $70,000 (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 06360

• Home prices YoY: -19.9%
• Rents YoY: 6.6%
• Active inventory: 241
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,118 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$319 /mo · $3,833/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $-62

Break-even live

Break-even rent $2,196

Max offer price $239,090

Occupancy floor 98%

Sensitivity live

Price	-10% $80	-5% $9	+0% $-62	+5% $-133	+10% $-203
Rent	-10% $-229	-5% $-145	+0% $-62	+5% $22	+10% $106
Rate	-1.0pp $64	-0.5pp $2	base $-62	+0.5pp $-127	+1.0pp $-192

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Wawecus Hill Rd Norwich, CT	2.0	1.0	825	$2,000	$2.42	14d	1	0.89mi

Listing history 6 events

1. 2026-06-03
   status $250,000 Under Contract 5 DOM
2. 2026-06-02
   days on market $250,000 Active 5 DOM
3. 2026-06-01
   days on market $250,000 Active 4 DOM
4. 2026-05-31
   days on market $250,000 Active 3 DOM
5. 2026-05-30
   days on market $250,000 Active 2 DOM
6. 2026-05-26
   listed $250,000 Active

ⓘ 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: $3,833 · $319/mo
• Projected year-2 tax: $4,592 · $383/mo
• Expected delta: +$758/yr (+$63/mo · 19.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $25,410
• − Mortgage interest: −$14,004
• − Property taxes: −$3,833
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − Depreciation: −$7,273
• Taxable loss: −$5,015
• Est. tax savings @ 24.0%: +$1,204
• After-tax cash flow: $462/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

1 event — show timeline

• 2026-05-26 Listed $250,000 Smart MLS

Property tax history

+0.6%/yr

Latest (2023): $3,833 · -0.8% YoY. Source: county tax records.