144 Greenwood Dr · Manchester, CT 06042

$125,000

3 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 6 Days on market

Built 1951 0.27 ac lot

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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
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

CASH BUYERS/SERIOUS INQUIRIES ONLY. This home is a diamond in the rough and is in need of a full renovation job. The potential is there! Location, private yard, size. .. .. all you need is a VISION! This is an AS IS WHERE IS Sale. Buyer to do their own due diligence on utilities, etc. HIGHEST AND BEST IS FOR TUESDAY 6/2 AT NOON WITH SELLER RESERVING THE RIGHT TO ACCEPT AN OFFER AT ANY TIME.

Key facts

• 0.27 acre lot
• 2 garage spots
• Built 1951

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water connected; Public sewer connected
• Home design: Single-family home
• Construction: Frame construction; White exterior; Concrete foundation; Asphalt shingle roof; Wood siding
• Exterior features: Breezeway; Corner lot; Level lot

Interior

• Bedrooms: Three bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot water heating (oil-fired); Fuel tank located in the basement; Domestic hot water
• Interior features: Seven total rooms; Full, unfinished basement; Attic with crawl space; One fireplace
• Laundry & utility: Laundry located in the lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $734 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 13.3% vs local median 3.8% in Manchester — 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 76/100 on livability (#59 in CT, #3,580 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: amenities D, commute F.
• Manchester School District (suburban): math 21% / reading 32% proficiency, ranked #130 of 153 in CT (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Buckley School (math 37% / reading 37%, grade F, #318 of 553 statewide, top 60%, 288 students, 42% FRL); Manchester High School (math 26% / reading 47%, grade F, #118 of 194 statewide, top 61%, 1,673 students, 52% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents rising fast (+4.8%/yr); 57 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• This rent runs 31% of the median local income ($92k/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 $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.89% ✓
• Cap rate: 13.34%
• Cash-on-cash: 25.16%
• DSCR: 2.12
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $289,152
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
74 Overlook Dr	0.20mi	3/1.0	1,152 (0%)	3mo	$312,000	$271	84
25 Greenwood Dr	0.29mi	3/2.0	1,140 (-1%)	3mo	$300,000	$263	82
26 Agnes Dr	0.31mi	3/1.0	1,152 (0%)	8mo	$260,000	$226	75
28 Elizabeth Dr	0.39mi	3/1.0	1,150 (-0%)	6mo	$260,000	$226	72
9 Cook St	0.55mi	3/1.5	1,164 (+1%)	4mo	$265,000	$228	67
29 Constance Dr	0.28mi	4/2.0 (+1)	1,248 (+8%)	2mo	$351,000	$281	66
54 Coleman Rd	0.65mi	3/2.0	1,152 (0%)	8mo	$298,000	$259	63
16 Coleman Rd	0.74mi	3/1.5	1,192 (+4%)	4mo	$250,000	$210	54
29 Bretton Rd	0.70mi	3/1.0	1,192 (+4%)	6mo	$270,675	$227	53
134 Helaine Rd	0.52mi	3/2.0	1,269 (+10%)	8mo	$318,000	$251	53
12 Garth Rd	0.68mi	3/1.0	1,248 (+8%)	2mo	$315,000	$252	49
70 Weaver Rd	0.62mi	3/1.0	1,279 (+11%)	6mo	$318,000	$249	43

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 · 4.8% rent growth · sell at horizon

5-year hold

• IRR: 21.1%
• Equity multiple: 1.89×
• Total profit: $31,032
• Equity at exit: $18,638

10-year hold

• IRR: 30.7%
• Equity multiple: 4.04×
• Total profit: $106,559
• Equity at exit: $10,808

Cash invested: $35,000 (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 06042

• Rents YoY: 4.8%
• Active inventory: 57
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,363 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$426 /mo · $5,109/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $734

Break-even live

Break-even rent $1,435

Max offer price $125,000

Occupancy floor 64%

Sensitivity live

Price	-10% $804	-5% $769	+0% $734	+5% $698	+10% $663
Rent	-10% $547	-5% $640	+0% $734	+5% $827	+10% $920
Rate	-1.0pp $797	-0.5pp $765	base $734	+0.5pp $701	+1.0pp $668

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
91 Green Manor Rd Manchester, CT	3.0	1.0	1206	$2,700	$2.24	3d	1	0.51mi
489 Middle Tpke E Unit 2-E Manchester, CT	3.0	1.0	1380	$2,100	$1.52	11d	1	0.64mi
Woodbridge St Unit 425 Manchester, CT	3.0	1.0	950	$1,900	$2.00	44d	1	0.93mi
333 E Center St Manchester, CT	2.0	1.0	705	$1,650	$2.34	21d	1	1.25mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $125,000 Under Contract 6 DOM
2. 2026-06-03
   days on market $125,000 Active 5 DOM
3. 2026-06-02
   days on market $125,000 Active 4 DOM
4. 2026-06-02
   remarks 393-char remark
5. 2026-06-01
   days on market $125,000 Active 3 DOM
6. 2026-05-31
   days on market $125,000 Active 2 DOM

ⓘ 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: $5,109 · $426/mo
• Projected year-2 tax: $5,109 · $426/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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,360
• − Mortgage interest: −$7,002
• − Property taxes: −$5,109
• − Insurance: −$625
• − Repairs & maintenance: −$2,269
• − Management: −$2,269
• − Depreciation: −$3,636
• Taxable income: $7,450
• Est. tax owed @ 24.0%: −$1,788
• After-tax cash flow: $7,016/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: Manchester School District
• NCES district ID: 0902310
• Math proficiency: 21% ▼ -8.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $63,391
• Composite: 24.54/100
• National rank: #7643
• State rank: #130 of 153 in CT

Livability — Manchester

• Score: 76/100
• State rank: #59
• US rank: #3580

Category grades

Amenities D Commute F 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: Manchester, CT
• County: Hartford County · 754,208 people
• City population: 59,635
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 23,822
• Household income: $91,892
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 730.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 56% Asian 14% Black 14% Hispanic / Latino 13% Two or more races 7%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Lithuanian 6% Romanian 6% Slovak 2%
• Foreign-born: 20% · Canada, Vietnam, Jamaica
• Languages at home: 72% English-only · Spanish 10% Other Indo-European 7% Other Asian/Pacific 3%

Political lean MEDSL · Capitol

• 2024 margin: Strong D (+21.9) · D 60.1% · R 38.2% · Other 1.7%
• All cycles: 2024: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.15%
• Current HPI: 196.8782
• Rent YoY: ▲ 4.80%
• Metro: Hartford-East Hartford-Middletown, 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

• 2026-05-29 Listed $125,000 Smart MLS

Property tax history

+1.8%/yr

Latest (2025): $5,109 · +2.9% YoY. Source: county tax records.