435 High St #30 · Mystic, CT 06335

$135,000

2 bd · 2.0 ba · 840 sqft · SingleFamily · 239 Days on market

Built 2025 Good condition 2,178 sqft lot $161/sqft · at area comps Est $139k · at est. $600/mo HOA · 26% of rent

---

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 +24.9/30.0
• 1% rule +10.0/10.0
• ARV discount +8.6/15.0
• DSCR +8.1/10.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New 2025 manufactured home in a mobile home community. Back patio to enjoy! Minutes from I95 and Downtown Mystic. Military/EB/Pfizer discounts available!

Key facts

• Minutes from i95
• Back patio
• 2,178 sq ft lot

Tags

• BACK PATIO
• MINUTES FROM I95
• MINUTES FROM DOWNTOWN MYSTIC

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 1.7% in Mystic — 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 82/100 on livability (#11 in CT, #1,266 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: commute F, cost of living F.
• Groton School District (suburban): math 32% / reading 50% proficiency, ranked #96 of 153 in CT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northeast Academy Magnet School (math 42% / reading 62%, grade C-, #213 of 553 statewide, top 41%, 391 students, 27% FRL); Groton Middle School (math 28% / reading 47%, grade F, #112 of 175 statewide, top 66%, 907 students, 47% FRL); Robert E. Fitch High School (math 37% / reading 61%, grade D, #90 of 194 statewide, top 46%, 1,005 students, 43% FRL).
• Market conditions: 29 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 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 26% of rent.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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: 1.71% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 4.9

CMA / ARV

• ARV (median comp): $138,517
• List price: $135,000
• Delta: -2.54%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
435 High St #30	0.00mi	2/2.0	840 (0%)	0mo	$128,000	$152	100
435 High St #31	0.03mi	2/2.0	840 (0%)	5mo	$130,000	$155	94
435 High St #28	0.07mi	2/2.0	840 (0%)	9mo	$130,000	$155	89
435 High St Lot 12	0.07mi	2/2.0	924 (+10%)	1mo	$150,000	$162	80
435 High St #40	0.07mi	2/2.0	924 (+10%)	3mo	$130,000	$141	78
435 High St #58	0.07mi	2/2.0	924 (+10%)	5mo	$150,000	$162	76
435 High St #26	0.07mi	2/2.0	924 (+10%)	6mo	$130,000	$141	75
435 High St Lot 4	0.07mi	2/2.0	924 (+10%)	7mo	$148,000	$160	74
435 High St Lot 10	0.07mi	2/2.0	924 (+10%)	10mo	$90,000	$97	71
214 Pequot Ave	0.09mi	2/1.0	768 (-9%)	10mo	$331,000	$431	69
435 High St #22	0.07mi	2/2.0	924 (+10%)	16mo	$122,000	$132	66
62 W Main St	0.60mi	1/2.0 (-1)	934 (+11%)	0mo	$650,000	$696	48

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: -2.0%
• Equity multiple: 0.92×
• Total profit: $-2,918
• Equity at exit: $20,129

10-year hold

• IRR: 7.9%
• Equity multiple: 1.61×
• Total profit: $22,989
• Equity at exit: $11,672

Cash invested: $37,800 (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 06335

• Home prices YoY: -22.0%
• Active inventory: 29
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,309 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$600
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $291

Break-even live

Break-even rent $1,940

Max offer price $135,000

Occupancy floor 82%

Sensitivity live

Price	-10% $385	-5% $338	+0% $291	+5% $245	+10% $198
Rent	-10% $109	-5% $200	+0% $291	+5% $383	+10% $474
Rate	-1.0pp $359	-0.5pp $326	base $291	+0.5pp $256	+1.0pp $221

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 W Main St Unit 2 Mystic, CT	2.0	1.0	900	$2,295	$2.55	15d	1	0.62mi
75 Steamboat Wharf Bldg Res-38 Mystic, CT	1.0	1.0	775	$1,890	$2.44	15d	1	0.65mi
12 Water St Mystic, CT	1.0–2.0	1.0–2.0	912	$2,800	$3.07	15d	3	0.67mi
12 Water St Unit 311 Mystic, CT	1.0	1.0	750	$2,500	$3.33	15d	1	0.67mi
12 Water St Unit 408 Mystic, CT	2.0	1.0	1075	$2,800	$2.60	23d	1	0.69mi
6 School St #20 Mystic, CT	1.0	1.5	706	$2,600	$3.68	23d	1	0.82mi
2 Lincoln Ave Apt 3 Mystic, CT	2.0	1.0	900	$1,875	$2.08	23d	1	1.04mi
454 Cow Hill Rd Unit 2 Mystic, CT	2.0	1.0	900	$1,250	$1.39	46d	1	1.26mi

HOA detail

• Monthly dues: $600 · $7,200/yr

Listing history 4 events

1. 2026-05-13
   status Under Contract 153-char remark

   Show marketing remark (153 chars)

   New 2025 manufactured home in a mobile home community. Back patio to enjoy! Minutes from I95 and Downtown Mystic. Military/EB/Pfizer discounts available!

2. 2026-04-02
   status Active 153-char remark

   Show marketing remark (153 chars)

   New 2025 manufactured home in a mobile home community. Back patio to enjoy! Minutes from I95 and Downtown Mystic. Military/EB/Pfizer discounts available!

3. 2026-03-02
   status Under Contract 153-char remark

   Show marketing remark (153 chars)

   New 2025 manufactured home in a mobile home community. Back patio to enjoy! Minutes from I95 and Downtown Mystic. Military/EB/Pfizer discounts available!

4. 2025-08-15
   listed $135,000 Active 153-char remark

   Show marketing remark (153 chars)

   New 2025 manufactured home in a mobile home community. Back patio to enjoy! Minutes from I95 and Downtown Mystic. Military/EB/Pfizer discounts available!

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

Taxation est. · year 1

• Rental income: $27,710
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$2,217
• − Management: −$2,217
• − HOA: −$7,200
• − Depreciation: −$3,927
• Taxable income: $1,887
• Est. tax owed @ 24.0%: −$453
• After-tax cash flow: $3,043/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 80/100 Cosmetic rehab

This 2025 manufactured home in a mobile home community is in good condition with recent updates, making it a good investment opportunity.

Value-add opportunities

• Both Landscaping and curb appeal — Aesthetic improvements can enhance both resale and rental value
• Both Add a small deck or patio — Can increase living space and appeal to potential buyers/renters

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal — Aesthetic improvements can enhance both resale and rental value ↑
• Both Add a small deck or patio — Can increase living space and appeal to potential buyers/renters ↑

ⓘ 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: Groton School District
• NCES district ID: 0901770
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $60,709
• Composite: 36.28/100
• National rank: #4702
• State rank: #96 of 153 in CT

Livability — Mystic

• Score: 82/100
• State rank: #11
• US rank: #1266

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,100

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 11% Hispanic / Latino 8% Black 4% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 9% Lithuanian 7% Serbian 4%
• Foreign-born: 5% · Canada, China, Jamaica
• Languages at home: 94% English-only · Spanish 3% Chinese 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: ▼ -67.79%
• Current HPI: 240.7698
• 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

4 events — show timeline

• 2026-05-13 Pending — Smart MLS
• 2026-04-02 Relisted — Smart MLS
• 2026-03-02 Pending — Smart MLS
• 2025-08-15 Listed $135,000 Smart MLS