296 E Main St · Clinton, CT 06413

$539,900

2 bd · 2.0 ba · 1,808 sqft · MultiFamily public records · 100 Days on market

Built 1920 1.33 ac lot $299/sqft · 18% below area Est $660k · 18% under

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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 +20.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.6/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Downtown Two-Family Investment Opportunity! Well-located two-family home close to everything - including shops, restaurants, and nearby beaches. Major updates have already been completed, including the roof, windows, mechanical systems, kitchens, and baths, making this a strong turnkey investment. Enjoy marsh views from the backyard, offering a scenic and relaxing outdoor setting. Owner financing available, making this an attractive opportunity for investors or owner-occupants alike.

Key facts

• Marsh views
• Backyard
• Two-family home

Tags

• TWO-FAMILY HOME
• MAJOR UPDATES
• MARSH VIEWS
• BACKYARD

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $540k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive. Per door: $162/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $519k (3.9% below list).
• Recommended offer: $491k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 2.5% in Clinton — 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 78/100 on livability (#34 in CT, #2,393 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime A-, employment B+; Watch: amenities C-, cost of living C-, commute D+.
• Clinton School District (suburban): math 47% / reading 56% proficiency, ranked #76 of 153 in CT (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 83 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 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 100 days — a 9% lower offer ($491k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago 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.
• Current owner paid $140k; list at $540k implies a 286% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $491,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 0.96% ✗
• Cap rate: 7.96%
• Cash-on-cash: 5.95%
• DSCR: 1.26
• GRM: 8.7

CMA / ARV

• ARV (median comp): $660,317
• List price: $539,900
• Delta: -18.24%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.2%
• Equity multiple: 0.56×
• Total profit: $-66,776
• Equity at exit: $80,501

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-31,181
• Equity at exit: $46,681

Cash invested: $151,172 (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 06413

• Active inventory: 83
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $5,191 medium
• Mortgage (P&I): −$2,831
• Tax from tax record: −$295 /mo · $3,535/yr
• Insurance: −$225
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,090
• Net cashflow: $324

Break-even live

Break-even rent $4,781

Max offer price $539,900

Occupancy floor 89%

Sensitivity live

Price	-10% $629	-5% $476	+0% $324	+5% $171	+10% $18
Rent	-10% $-87	-5% $118	+0% $324	+5% $529	+10% $734
Rate	-1.0pp $595	-0.5pp $461	base $324	+0.5pp $184	+1.0pp $41

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,190
Total (2 units)			$5,191

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: $134,975
• Closing costs: $16,197
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 Grove Beach Rd S Westbrook, CT	3.0	1.5	1441	$7,500	$5.20	44d	1	0.70mi
8 Lewis Ave Westbrook, CT	1.0	2.0	2390	$1,700	$0.71	44d	1	0.73mi
84 Waterside Ln #3 Clinton, CT	1.0	2.0	1661	$4,000	$2.41	44d	1	1.20mi
61 Hammock Rd N Westbrook, CT	3.0	2.0	1262	$3,000	$2.38	44d	1	1.41mi
147 Captains Dr Westbrook, CT	2.0	2.5	1788	$2,500	$1.40	44d	1	1.45mi
19 Underway Dr Westbrook, CT	3.0	2.0	1872	$3,500	$1.87	44d	1	1.50mi

Listing history 23 events

1. 2026-06-21
   days on market $539,900 Active 100 DOM
2. 2026-06-18
   days on market $539,900 Active 98 DOM
3. 2026-06-17
   days on market $539,900 Active 97 DOM
4. 2026-06-16
   days on market $539,900 Active 96 DOM
5. 2026-06-15
   days on market $539,900 Active 95 DOM
6. 2026-06-13
   days on market $539,900 Active 93 DOM
7. 2026-06-12
   days on market $539,900 Active 92 DOM
8. 2026-06-09
   days on market $539,900 Active 89 DOM
9. 2026-06-08
   days on market $539,900 Active 88 DOM
10. 2026-06-07
    days on market $539,900 Active 87 DOM
11. 2026-06-05
    days on market $539,900 Active 85 DOM
12. 2026-06-04
    days on market $539,900 Active 83 DOM
13. 2026-06-02
    days on market $539,900 Active 82 DOM
14. 2026-06-01
    days on market $539,900 Active 81 DOM
15. 2026-05-31
    days on market $539,900 Active 80 DOM
16. 2026-05-31
    days on market $539,900 Active 79 DOM
17. 2026-03-11
    listed $539,900 Active 488-char remark

    Show marketing remark (488 chars)

    Downtown Two-Family Investment Opportunity! Well-located two-family home close to everything - including shops, restaurants, and nearby beaches. Major updates have already been completed, including the roof, windows, mechanical systems, kitchens, and baths, making this a strong turnkey investment. Enjoy marsh views from the backyard, offering a scenic and relaxing outdoor setting. Owner financing available, making this an attractive opportunity for investors or owner-occupants alike.

18. 2015-03-02
    soldstatus $140,000
19. 2012-09-30
    historical
20. 2012-09-30
    historical
21. 2012-03-30
    listed $185,000
22. 2012-03-30
    listed $185,000
23. 1999-02-02
    soldstatus $82,000

ⓘ 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: $3,535 · $295/mo
• Projected year-2 tax: $7,544 · $629/mo
• Expected delta: +$4,009/yr (+$334/mo · 113.4%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $62,292
• − Mortgage interest: −$30,243
• − Property taxes: −$3,535
• − Insurance: −$7,818
• − Repairs & maintenance: −$4,983
• − Management: −$4,983
• − Depreciation: −$15,706
• Taxable loss: −$4,977
• Est. tax savings @ 24.0%: +$1,194
• After-tax cash flow: $5,077/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: Clinton School District
• NCES district ID: 0900810
• Math proficiency: 47% ▼ -5.00%
• Reading proficiency: 56% ▼ -7.00%
• Median HH income: $71,762
• Composite: 46.08/100
• National rank: #2514
• State rank: #76 of 153 in CT

Livability — Clinton

• Score: 78/100
• State rank: #34
• US rank: #2393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,317

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 4% Asian 2% Pacific Islander 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -164.95%
• Current HPI: 192.3695
• 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

+558.4% since first listed

7 events — show timeline

• 2026-03-11 Listed $539,900 Smart MLS
• 2015-03-02 Sold (Public Records) $140,000 Public Records
• 2012-09-30 Listing Removed — Smart MLS
• 2012-09-30 Listing Removed — Smart MLS
• 2012-03-30 Listed $185,000 Smart MLS
• 2012-03-30 Listed $185,000 Smart MLS
• 1999-02-02 Sold (Public Records) $82,000 Public Records

Property tax history

+0.1%/yr

Latest (2023): $3,535 · +0.0% YoY. Source: county tax records.