31 Rivermead · East Hartford, CT 06118

$35,000

2 bd · 1.0 ba · 676 sqft · Manufactured public records · 4 Days on market

Built 1962 $52/sqft · 29% below area Est $49k · 29% under $776/mo HOA · 47% of rent ↓ 12% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor's quick win in East Hartford! With a renovation, this 2-bed, 1-bath mobile home offers strong upside and easy one-level living. The layout is efficient and functional, perfect for an owner-occupant. Enjoy added privacy with a backyard that backs to the woods. Located in the well-maintained Rivermead Pointe community-known for its convenient location and neighborhood feel, Rivermead Pointe awaits. Well-manicured grounds, a club house, and on site laundry facilities are just some of the perks. Plus, pets are welcome!!! Affordable entry point with great potential to add value quickly. Throw that tool belt on, and let's get to growing!

Key facts

• One level living
• Pets are welcome
• 2 parking spots

Tags

• ONE LEVEL LIVING
• WELL MANICURED GROUNDS
• ON SITE LAUNDRY FACILITIES
• PETS ARE WELCOME

Property features AI

Finance

• Other: Listing status: Active
• Financial info: Annual tax amount $770 (2025)
• HOA & community: Homeowners association membership required; Association fee $776

Exterior

• Parking: 2 open parking spaces
• Utilities: Public water; Public sewer
• Home design: Mobile home; Above-grade finished living area approximately 676
• Construction: Built circa (approximate) per public records
• Exterior features: Cleared, level lot

Interior

• Bedrooms: Master bedroom on the first floor; Second bedroom on the first floor
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Natural gas heating
• Interior features: Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $35k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Cap rate 15.8% vs local median 4.2% in East Hartford — 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 73/100 on livability (#76 in CT) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, commute A-; Watch: schools D+, amenities F, health & safety F.
• East Hartford School District (urban): math 17% / reading 30% proficiency, ranked #140 of 153 in CT (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 100 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 47% of rent.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 4.76% ✓
• Cap rate: 15.79%
• Cash-on-cash: 33.91%
• DSCR: 2.51
• GRM: 1.8

CMA / ARV

• ARV (median comp): $49,455
• List price: $35,000
• Delta: -19.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.1%
• Equity multiple: 2.27×
• Total profit: $12,480
• Equity at exit: $5,219

10-year hold

• IRR: 37.8%
• Equity multiple: 4.64×
• Total profit: $35,668
• Equity at exit: $3,026

Cash invested: $9,800 (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 06118

• Home prices YoY: -33.7%
• Active inventory: 100
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,665 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$64 /mo · $770/yr
• Insurance: −$15
• HOA: −$776
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $277

Break-even live

Break-even rent $1,314

Max offer price $35,000

Occupancy floor 78%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 Brewster Rd Unit C Glastonbury, CT	1.0	1.0	670	$1,600	$2.39	3d	1	1.30mi

HOA detail

• Monthly dues: $776 · $9,312/yr
• Likely covers: landscaping

Listing history 15 events

1. 2026-06-18
   statusdays on market $35,000 Active 4 DOM
2. 2026-06-17
   days on market $35,000 New 3 DOM
3. 2026-06-16
   days on market $35,000 New 2 DOM
4. 2026-06-15
   statusdays on marketlisting id $35,000 New 1 DOM
5. 2026-06-13
   days on market $35,000 Active 37 DOM
6. 2026-06-10
   days on market $35,000 Active 34 DOM
7. 2026-06-09
   days on market $35,000 Active 33 DOM
8. 2026-06-08
   days on market $35,000 Active 32 DOM
9. 2026-06-07
   days on market $35,000 Active 31 DOM
10. 2026-06-05
    days on market $35,000 Active 28 DOM
11. 2026-06-03
    days on market $35,000 Active 27 DOM
12. 2026-06-02
    days on market $35,000 Active 26 DOM
13. 2026-06-01
    days on market $35,000 Active 25 DOM
14. 2026-05-31
    days on market $35,000 Active 24 DOM
15. 2026-05-07
    listed $40,000 Active 648-char remark

    Show marketing remark (648 chars)

    Investor's quick win in East Hartford! With a renovation, this 2-bed, 1-bath mobile home offers strong upside and easy one-level living. The layout is efficient and functional, perfect for an owner-occupant. Enjoy added privacy with a backyard that backs to the woods. Located in the well-maintained Rivermead Pointe community-known for its convenient location and neighborhood feel, Rivermead Pointe awaits. Well-manicured grounds, a club house, and on site laundry facilities are just some of the perks. Plus, pets are welcome!!! Affordable entry point with great potential to add value quickly. Throw that tool belt on, and let's get to growing!

ⓘ 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: $770 · $64/mo
• Projected year-2 tax: $770 · $64/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $19,978
• − Mortgage interest: −$1,961
• − Property taxes: −$770
• − Insurance: −$175
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − HOA: −$9,312
• − Depreciation: −$1,018
• Taxable income: $3,546
• Est. tax owed @ 24.0%: −$851
• After-tax cash flow: $2,472/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: East Hartford School District
• NCES district ID: 0901260
• Math proficiency: 17% ▼ -5.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $49,691
• Composite: 20.74/100
• National rank: #8519
• State rank: #140 of 153 in CT

Livability — East Hartford

• Score: 73/100
• State rank: #76
• US rank: #5527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Hartford, CT
• County: Hartford County · 754,208 people
• City population: 50,918
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 27,419
• Household income: $79,740
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 820.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 40% Hispanic / Latino 33% Black 20% Two or more races 14% Asian 4%
• Hispanic origin (detail): Puerto Rican 22% Dominican 3%
• Common ancestry: Romanian 4% Lithuanian 4% Scotch-Irish 2%
• Foreign-born: 17% · Canada, Vietnam, Jamaica
• Languages at home: 65% English-only · Spanish 23% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -127.16%
• Current HPI: 250.5647
• Rent YoY: —
• 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

-12.5% since first listed

3 events — show timeline

• 2026-06-14 Listed $35,000 MLS PIN
• 2026-05-29 Price Changed $35,000 Smart MLS
• 2026-05-07 Listed $40,000 Smart MLS

Property tax history

+0.8%/yr

Latest (2025): $770 · +4.3% YoY. Source: county tax records.