187-189 Prospect St · Moosup, CT 06354

$275,000

8 bd · 4.0 ba · 2,033 sqft · MultiFamily · 51 Days on market

Built 1880 Fair condition 4,791 sqft lot $135/sqft · 7% below area Est $297k · 7% under

---

Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +10.9/15.0
• DSCR +10.0/10.0
• Appreciation +9.6/10.0
• 1% rule +9.5/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

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

Listing remarks MLS

This well-designed 2-family property in Moosup, CT presents a strong investment opportunity. Each unit features spacious living areas with large windows that bring in plenty of natural light, creating bright and inviting spaces for tenants. The property includes a large backyard with potential to create an attractive outdoor living area, adding additional appeal and value. Convenient location with easy access to I-395 for commuters.

Key facts

• Large backyard
• Easy access to i-395
• Walk-out basements

Tags

• INVESTMENT OPPORTUNITY
• SIDE-BY-SIDE APARTMENTS
• WALK-OUT BASEMENTS
• LARGE BACKYARD
• OUTDOOR LIVING SPACE
• EASY ACCESS TO I-395

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $275k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $630/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $267k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#113 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: employment D+, amenities F, commute F.
• Plainfield School District (town): math 24% / reading 41% proficiency, ranked #117 of 153 in CT (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (9.2% local appreciation)).
• At projected returns (9.2% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $266,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.45% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.63%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

• ARV (median comp): $297,241
• List price: $275,000
• Delta: -7.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

9.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.5%
• Equity multiple: 3.79×
• Total profit: $214,901
• Equity at exit: $231,623

10-year hold

• IRR: 32.7%
• Equity multiple: 8.36×
• Total profit: $566,588
• Equity at exit: $483,290

Cash invested: $77,000 (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 06354

• Home prices YoY: 3.0%
• Active inventory: 27
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $4,000 medium
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$840
• Net cashflow: $1,260

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$4,000
Total (2 units)			$4,000

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-03-30
   listed $275,000 Active 438-char remark

   Show marketing remark (438 chars)

   This well-designed 2-family property in Moosup, CT presents a strong investment opportunity. Each unit features spacious living areas with large windows that bring in plenty of natural light, creating bright and inviting spaces for tenants. The property includes a large backyard with potential to create an attractive outdoor living area, adding additional appeal and value. Convenient location with easy access to I-395 for commuters.

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°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: $48,000
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,840
• − Management: −$3,840
• − Depreciation: −$8,000
• Taxable income: $11,416
• Est. tax owed @ 24.0%: −$2,740
• After-tax cash flow: $12,375/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 · 7 photos

Fair 45/100 Moderate rehab

This 2-family property in Moosup, CT requires significant repairs and maintenance to improve its condition and increase its value. The roof, exterior siding, landscaping, fencing, and porch and steps are in poor condition and need repair or replacement.

Repairs flagged

• Major roof — Significant damage and wear
• Major exterior siding — Peeling and in need of repainting
• Major landscaping — Minimal and in need of improvement
• Major fencing — In poor condition
• Major porch and steps — In poor condition

Value-add opportunities

• Both repairing the roof — A repaired roof will improve the overall condition and appearance of the property
• Both repainting the exterior siding — A fresh coat of paint will improve the appearance and increase the property's value
• Both improving the landscaping — A well-maintained and attractive landscape will increase the property's curb appeal and value
• Both repairing the fencing — A repaired and maintained fence will improve the property's appearance and increase its value
• Both repairing the porch and steps — A repaired and maintained porch and steps will improve the property's appearance and increase its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage and wear	Major	$15,000–50,000
exterior siding · Peeling and in need of repainting	Major	$15,000–50,000
landscaping · Minimal and in need of improvement	Major	$15,000–50,000
fencing · In poor condition	Major	$15,000–50,000
porch and steps · In poor condition	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both repairing the roof — A repaired roof will improve the overall condition and appearance of the property ↑
• Both repainting the exterior siding — A fresh coat of paint will improve the appearance and increase the property's value ↑
• Both improving the landscaping — A well-maintained and attractive landscape will increase the property's curb appeal and value ↑
• Both repairing the fencing — A repaired and maintained fence will improve the property's appearance and increase its value ↑
• Both repairing the porch and steps — A repaired and maintained porch and steps will improve the property's appearance and increase its 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: Plainfield School District
• NCES district ID: 0903270
• Math proficiency: 24% ▼ -16.00%
• Reading proficiency: 41% ▼ -17.00%
• Median HH income: $62,056
• Composite: 29.36/100
• National rank: #6531
• State rank: #117 of 153 in CT

Livability — Moosup

• Score: 67/100
• State rank: #113
• US rank: #10397

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: Moosup, CT
• Population (ZIP): 5,840

Population outlook (Northeastern Connecticut County) Hauer SSP2

• By 2040: 104,160

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Asian 6% Hispanic / Latino 5% Two or more races 4% Black 1%
• Common ancestry: Lithuanian 18% Romanian 10% Italian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 93% English-only · Other Indo-European 3% Spanish 2% Chinese 1%

Political lean MEDSL · Northeastern Connecticut

• 2024 margin: R (+15.4) · D 41.5% · R 57.0% · Other 1.5%
• All cycles: 2024: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.19%
• Current HPI: 318.3935
• 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

• 2026-03-30 Listed $275,000 Smart MLS