31-33 Carely Ave · Jewett City, CT 06351

$330,000

6 bd · 2.0 ba · 2,297 sqft · MultiFamily · 6 Days on market

Built 1917 Good condition 0.28 ac lot Est $338k · at est.

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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 +27.9/30.0
• DSCR +9.8/10.0
• ARV discount +8.5/15.0
• 1% rule +7.6/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

HIGHEST AND BEST DUE BY 3PM TUESDAY 6/16. Turnkey investment opportunity! This spacious two-family home is fully rented and offers strong, consistent income with long-term tenants already in place. (Tenants have been great, both want to stay) Each unit features approximately 1,148 square feet of living space, with 3 bedrooms and 1 full bathroom, providing comfortable layouts that appeal to a wide range of renters. Tenants pay all of their own utilities, including water and sewer, helping to maximize owner returns. Unit #31 has been thoughtfully updated with an open-concept kitchen and dining area, creating a bright and modern living space. Kitchen has beautiful tall white oak cabinets. This

Key facts

• 0.28 acre lot
• Garage
• Built 1917

Property features AI

Finance

• Other: Property listed as multi-family for sale; Located in New London County, Connecticut; Living area approximately 2297 (public record)

Exterior

• Parking: Detached garage (1-car)
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (2-family)
• Construction: Built with frame construction; Concrete foundation; Asphalt shingle roof; Shingle siding; Blue exterior color
• Exterior features: Level lot; Nearby amenities: basketball court, lake, library, medical facilities, park, playground/tot lot, shopping, walkable to bus lines

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Oil-fired heating; 50-gallon hot water tank (in basement); Fuel tank located in basement
• Interior features: 12 total rooms; Full basement; Has attic with access via hatch
• Laundry & utility: Basement washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $330k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $506/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Cap rate 10.0% vs local median 3.5% in Jewett City — 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 70/100 on livability (#96 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• 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.
• Zoned schools: Griswold Elementary School (math 27% / reading 36%, grade F, #376 of 553 statewide, top 68%, 691 students, 52% FRL); Griswold High School (math 32% / reading 47%, grade F, #107 of 194 statewide, top 56%, 533 students, 46% FRL) — zoned schools average 49% FRL vs 31% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 76 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $92k cash investment doubles in ~9 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: built in 1917 — 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 $330,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.26% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.14%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $337,659
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Soule St	0.39mi	6/3.0	2,316 (+1%)	1mo	$340,000	$147	76
83-85 Mathewson St	0.44mi	5/3.0 (-1)	2,339 (+2%)	2mo	$375,000	$160	66
22 Mechanic St	0.47mi	5/3.0 (-1)	2,232 (-3%)	19mo	$250,000	$112	48
16 Brown Ave	0.69mi	6/3.0	2,040 (-11%)	21mo	$265,000	$130	27

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $11,054
• Equity at exit: $49,204

10-year hold

• IRR: 12.7%
• Equity multiple: 2.01×
• Total profit: $92,890
• Equity at exit: $28,532

Cash invested: $92,400 (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: 76
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $4,168 high
• Mortgage (P&I): −$1,731
• Tax est. 1.5%: −$412 /mo · $4,950/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$875
• Net cashflow: $1,012

Break-even live

Break-even rent $2,887

Max offer price $330,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,240	-5% $1,126	+0% $1,012	+5% $898	+10% $784
Rent	-10% $683	-5% $848	+0% $1,012	+5% $1,177	+10% $1,341
Rate	-1.0pp $1,178	-0.5pp $1,096	base $1,012	+0.5pp $927	+1.0pp $840

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,168
Total (2 units)			$4,168

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   status $330,000 Under Contract 6 DOM
2. 2026-06-17
   days on market $330,000 Active 6 DOM
3. 2026-06-16
   days on market $330,000 Active 5 DOM
4. 2026-06-15
   days on market $330,000 Active 4 DOM
5. 2026-06-13
   days on market $330,000 Active 2 DOM
6. 2026-06-12
   statusdays on market $330,000 Active 1 DOM
7. 2026-06-09
   days on market $330,000 Coming Soon 8 DOM
8. 2026-06-08
   days on market $330,000 Coming Soon 7 DOM
9. 2026-06-07
   days on market $330,000 Coming Soon 6 DOM
10. 2026-06-07
    days on market $330,000 Coming Soon 5 DOM
11. 2026-06-04
    days on market $330,000 Coming Soon 2 DOM
12. 2026-06-01
    remarks 699-char remark
13. 2026-06-01
    listed $330,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥97°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: $50,016
• − Mortgage interest: −$18,485
• − Property taxes: −$4,950
• − Insurance: −$1,650
• − Repairs & maintenance: −$4,001
• − Management: −$4,001
• − Depreciation: −$9,600
• Taxable income: $7,328
• Est. tax owed @ 24.0%: −$1,759
• After-tax cash flow: $10,387/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This two-family home is in good condition with no major repairs needed. It has a good curb appeal and is fully rented, making it a solid investment opportunity.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding can improve the curb appeal and increase the home's value.
• Both Replace any worn-out windows — Replacing worn-out windows can improve energy efficiency and increase the home's value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Painting the exterior siding can improve the curb appeal and increase the home's value. ↑
• Both Replace any worn-out windows — Replacing worn-out windows can improve energy efficiency and increase the home's value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Jewett City

• Score: 70/100
• State rank: #96
• US rank: #7502

Category grades

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

Schools grade is shown separately in the Schools card above.

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

1 event — show timeline

• 2026-06-01 Coming Soon $330,000 Smart MLS