140 N Main St · Griswold, CT 06351

$549,900

5 bd · 5.0 ba · 2,834 sqft · MultiFamily public records · 41 Days on market

Built 1906 0.32 ac lot $194/sqft · 68% above area

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Why this score? — see what drove the C 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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Conveniently located 5 family home in Jewett City/Griswold. Property features 5-1 bedroom 1 bathroom apartments, all tenant paid utilities (electric). Property features updated units, tenants all on leases, with nicely updated apartments. Vinyl siding, newer roof, decent parking area, along with city water & sewer.

Key facts

• 0.32 acre lot
• 6 parking spots
• Built 1906

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/1-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $249/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• Recommended offer: $533k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Griswold School District (rural): math 29% / reading 42% proficiency, ranked #111 of 153 in CT (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 75 active listings in the ZIP; 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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($533k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $50k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $550k implies a 686% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $533,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.68%
• DSCR: 1.43
• GRM: 7.6

CMA / ARV

• ARV (median comp): $326,625
• List price: $549,900
• Delta: 68.36%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
164 Mathewson St	0.07mi	6/5.0 (+1)	2,800 (-1%)	13mo	$432,000	$154	79
9 Jennings St	0.40mi	6/2.0 (+1)	2,840 (+0%)	9mo	$360,000	$127	56

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.93×
• Total profit: $-10,059
• Equity at exit: $81,992

10-year hold

• IRR: 7.9%
• Equity multiple: 1.60×
• Total profit: $92,764
• Equity at exit: $47,545

Cash invested: $153,972 (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 06351

• Home prices YoY: -22.8%
• Active inventory: 75
• Price-to-rent: 38.2×

Monthly cashflow live

• Estimated rent: $6,000 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$384 /mo · $4,614/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,260
• Net cashflow: $1,243

Break-even live

Break-even rent $4,427

Max offer price $549,900

Occupancy floor 74%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$6,000
Total (5 units)			$6,000

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: $137,475
• Closing costs: $16,497
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $549,900 Active 41 DOM
2. 2026-06-17
   days on market $549,900 Active 40 DOM
3. 2026-06-16
   days on market $549,900 Active 39 DOM
4. 2026-06-15
   days on market $549,900 Active 38 DOM
5. 2026-06-13
   days on market $549,900 Active 36 DOM
6. 2026-06-12
   days on market $549,900 Active 35 DOM
7. 2026-06-09
   days on market $549,900 Active 32 DOM
8. 2026-06-08
   days on market $549,900 Active 31 DOM
9. 2026-06-07
   days on market $549,900 Active 30 DOM
10. 2026-06-07
    days on market $549,900 Active 29 DOM
11. 2026-06-04
    days on market $549,900 Active 26 DOM
12. 2026-06-02
    days on market $549,900 Active 25 DOM
13. 2026-06-01
    pricedays on market $549,900 Active 24 DOM
14. 2026-05-31
    days on market $599,900 Active 23 DOM
15. 2026-05-31
    days on market $599,900 Active 22 DOM
16. 2026-05-08
    listed $599,900 Active 320-char remark

    Show marketing remark (320 chars)

    Conveniently located 5 family home in Jewett City/Griswold. Property features 5-1 bedroom 1 bathroom apartments, all tenant paid utilities (electric). Property features updated units, tenants all on leases, with nicely updated apartments. Vinyl siding, newer roof, decent parking area, along with city water & sewer.

17. 2021-03-01
    historical
18. 2021-02-06
    listed $339,900 Active
19. 2016-12-07
    soldstatus $70,000
20. 2016-11-16
    historical
21. 2015-07-20
    listed $170,000
22. 2013-02-14
    soldstatus $180,000
23. 2012-09-12
    listed $200,000

ⓘ 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: $4,614 · $384/mo
• Projected year-2 tax: $8,191 · $683/mo
• Expected delta: +$3,577/yr (+$298/mo · 77.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $72,000
• − Mortgage interest: −$30,803
• − Property taxes: −$4,614
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,760
• − Management: −$5,760
• − Depreciation: −$15,997
• Taxable income: $6,316
• Est. tax owed @ 24.0%: −$1,516
• After-tax cash flow: $13,396/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: Griswold School District
• NCES district ID: 0901740
• Math proficiency: 29% ▼ -22.00%
• Reading proficiency: 42% ▼ -13.00%
• Median HH income: $59,711
• Composite: 31.64/100
• National rank: #5932
• State rank: #111 of 153 in CT

Livability — Griswold

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

Census & demographics

• Census place: Jewett City, CT
• Population (ZIP): 15,697

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 4% Native American 1%
• Common ancestry: Lithuanian 15% Romanian 10% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -67.06%
• Current HPI: 227.571
• Rent YoY: —
• Metro: —
• 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

+200.0% since first listed

8 events — show timeline

• 2026-05-08 Listed $599,900 Smart MLS
• 2021-03-01 Listing Removed — Smart MLS
• 2021-02-06 Listed $339,900 Smart MLS
• 2016-12-07 Sold (MLS) $70,000 Smart MLS
• 2016-11-16 Listing Removed — Smart MLS
• 2015-07-20 Listed $170,000 Smart MLS
• 2013-02-14 Sold (MLS) $180,000 Smart MLS
• 2012-09-12 Listed $200,000 Smart MLS

Property tax history

+2.3%/yr

Latest (2023): $4,614 · +1.2% YoY. Source: county tax records.