252 Old Canterbury Tpke Lot 32 · Norwich, CT 06360

$42,000

2 bd · 1.0 ba · 624 sqft · Manufactured public records · 31 Days on market

Built 1968

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Older mobile home for sale located in Sunny Waters Mobile home park. Some of the recent updates are doors, windows, cabinets, and tar roof was done a few years ago. Seller to do no repairs. Selling as is. HOA is $440 per month. Agent is related to Seller.

Key facts

• Easy access to i-395
• 2 parking spots
• Built 1968

Tags

• SUNNY WATERS MOBILE HOME PARK
• EASY ACCESS TO I-395

Property features AI

Exterior

• Parking: 2 parking spaces
• Utilities: Shared well water; Shared septic sewer; Electric service
• Home design: Single-family home for sale; On leased land; Prefab construction; Yellow exterior color
• Construction: Prefab construction; No foundation
• Exterior features: Vinyl siding; Front porch; Level lot; Paved driveway; Driveway parking

Interior

• Kitchen: Refrigerator included
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Propane-fueled heating; Above-ground fuel tank
• Interior features: Total of 4 rooms; No basement
• Laundry & utility: Laundry located in hallway; Electric domestic hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $42k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $42k).
• Recommended offer: $41k (3.0% below list) — sets the bar for market timing.
• Cap rate 35.6% vs local median 4.0% in Norwich — 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 81/100 on livability (#18 in CT, #1,391 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, commute A-; Watch: schools D+.
• Norwich School District (urban): math 19% / reading 29% proficiency, ranked #139 of 153 in CT (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 243 active listings in the ZIP; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• This rent runs 30% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $290 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $3k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $42k implies a 500% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $40,740 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 3.91% ✓
• Cap rate: 35.62%
• Cash-on-cash: 104.74%
• DSCR: 5.66
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.62% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.51×
• Total profit: $64,777
• Equity at exit: $6,262

10-year hold

• IRR: —
• Equity multiple: 15.29×
• Total profit: $168,029
• Equity at exit: $3,631

Cash invested: $11,760 (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 06360

• Home prices YoY: -19.9%
• Rents YoY: 6.6%
• Active inventory: 243
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,641 medium
• Mortgage (P&I): −$220
• Tax from tax record: −$32 /mo · $389/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $1,026

Break-even live

Break-even rent $342

Max offer price $42,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,050	-5% $1,038	+0% $1,026	+5% $1,015	+10% $1,003
Rent	-10% $897	-5% $962	+0% $1,026	+5% $1,091	+10% $1,156
Rate	-1.0pp $1,048	-0.5pp $1,037	base $1,026	+0.5pp $1,016	+1.0pp $1,005

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-28
   status Under Contract
2. 2026-04-20
   price $42,000
3. 2026-03-27
   listed $45,000 Active
4. 2021-08-20
   soldstatus $7,000 Closed 255-char remark

   Show marketing remark (255 chars)

   Older mobile home for sale located in Sunny Waters Mobile home park. Some of the recent updates are doors, windows, cabinets, and tar roof was done a few years ago. Seller to do no repairs. Selling as is. HOA is $440 per month. Agent is related to Seller.

5. 2021-07-28
   status Active 255-char remark

   Show marketing remark (255 chars)

   Older mobile home for sale located in Sunny Waters Mobile home park. Some of the recent updates are doors, windows, cabinets, and tar roof was done a few years ago. Seller to do no repairs. Selling as is. HOA is $440 per month. Agent is related to Seller.

6. 2021-07-07
   listed $7,000 Active 255-char remark

   Show marketing remark (255 chars)

   Older mobile home for sale located in Sunny Waters Mobile home park. Some of the recent updates are doors, windows, cabinets, and tar roof was done a few years ago. Seller to do no repairs. Selling as is. HOA is $440 per month. Agent is related to Seller.

ⓘ 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: $389 · $32/mo
• Projected year-2 tax: $644 · $54/mo
• Expected delta: +$255/yr (+$21/mo · 65.5%)

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

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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $19,696
• − Mortgage interest: −$2,353
• − Property taxes: −$389
• − Insurance: −$210
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − Depreciation: −$1,222
• Taxable income: $12,371
• Est. tax owed @ 24.0%: −$2,969
• After-tax cash flow: $9,348/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: Norwich School District
• NCES district ID: 0903120
• Math proficiency: 19% ▼ -8.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $50,813
• Composite: 21.27/100
• National rank: #8395
• State rank: #139 of 153 in CT

Livability — Norwich

• Score: 81/100
• State rank: #18
• US rank: #1391

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwich, CT
• County: New London County · 147,197 people
• City population: 37,216
• Metro: Norwich-New London, CT
• Population (ZIP): 37,216
• Household income: $65,539
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 1643.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 56% Hispanic / Latino 21% Two or more races 12% Black 10% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 9% Cuban 1% Dominican 3%
• Common ancestry: Lithuanian 8% Romanian 5% Hispanic 4%
• Foreign-born: 15% · Canada, China
• Languages at home: 77% English-only · Spanish 11% French/Haitian/Cajun 4% Chinese 3%

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: ▼ -65.27%
• Current HPI: 261.8575
• Rent YoY: ▲ 6.62%
• Metro: Norwich-New London, 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

+500.0% since first listed

6 events — show timeline

• 2026-04-28 Pending — Smart MLS
• 2026-04-20 Price Changed $42,000 Smart MLS
• 2026-03-27 Listed $45,000 Smart MLS
• 2021-08-20 Sold (MLS) $7,000 Smart MLS
• 2021-07-28 Relisted — Smart MLS
• 2021-07-07 Listed $7,000 Smart MLS

Property tax history

-2.0%/yr

Latest (2023): $389 · -0.8% YoY. Source: county tax records.