27 West St · Portland, CT 06416

$299,900

2 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 7 Days on market

Built 1965 10,018 sqft lot $291/sqft · 7% below area Est $323k · 7% under

---

Why this score? — see what drove the D+ 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 +16.3/30.0
• ARV discount +10.8/15.0
• DSCR +5.1/10.0
• Schools +4.9/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* Multiple offers - Highest & best deadline Tuesday, May 12, by noon please * Discover the quiet charm of this lovingly crafted home nestled on a manageable quarter-acre lot near the heart of historic Cromwell. Offered for the first time by its original owner, this well-cared-for home reflects pride of ownership, ready for updates to realize it's full potential. Step inside to hardwood floors spanning a generously sized living room that flows into a light-filled kitchen overlooking the lovely, level backyard. A delightful three-season porch extends the living space - perfect for morning coffee, quiet evenings listening to nature, or entertaining guests after a shared meal. The spacio

Key facts

• 0.23 acre lot
• Garage
• Built 1965

Property features AI

Exterior

• Parking: Attached garage (1-car)
• Utilities: Public water connected; Public sewer connected; Oil hot water and domestic hot water; Fuel tank located in basement
• Home design: Single-family home; Tan exterior
• Construction: Frame with concrete construction elements; Concrete foundation; Asphalt shingle roof; Clapboard siding
• Exterior features: Sidewalk; Gutters; Lightly wooded, level yard; Walkable to water

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating (oil-fired); Oil hot water boiler; Thermopane windows
• Interior features: Auto garage door opener; Bath grab bars
• Laundry & utility: Washer (located in 2nd bedroom closet); Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $272k (9.1% below list).
• Recommended offer: $272k (9.1% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 2.7% in Portland — 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 76/100 on livability (#57 in CT, #3,527 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Cromwell School District (suburban): math 51% / reading 58% proficiency, ranked #63 of 153 in CT (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Edna C. Stevens School (473 students, 27% FRL); Cromwell High School (math 52% / reading 67%, grade C+, #45 of 194 statewide, top 25%, 536 students, 25% FRL).
• Market conditions: 58 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $272,493 (9.1% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.91% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.38%
• DSCR: 1.11
• GRM: 9.2

CMA / ARV

• ARV (median comp): $323,466
• List price: $299,900
• Delta: -7.29%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 West St	0.00mi	2/1.0	1,032 (0%)	0mo	$317,500	$308	100
281 Main St	0.38mi	2/2.0	1,022 (-1%)	22mo	$269,900	$264	58
59 River Rd	0.51mi	2/1.0	1,040 (+1%)	24mo	$300,000	$288	55
13 Catherine St	0.44mi	3/2.0 (+1)	1,074 (+4%)	11mo	$367,000	$342	54
4 Wightman Pl	0.39mi	2/1.0	912 (-12%)	23mo	$261,000	$286	43

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: -12.5%
• Equity multiple: 0.55×
• Total profit: $-38,002
• Equity at exit: $44,716

10-year hold

• IRR: -3.5%
• Equity multiple: 0.77×
• Total profit: $-19,483
• Equity at exit: $25,930

Cash invested: $83,972 (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 06416

• Home prices YoY: -16.0%
• Active inventory: 58
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,725 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$288 /mo · $3,462/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $167

Break-even live

Break-even rent $2,514

Max offer price $299,900

Occupancy floor 89%

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35 West St Cromwell, CT	3.0	1.5	1392	$3,000	$2.16	23d	1	0.06mi
548 Main St Unit 2 Portland, CT	3.0	1.0	1005	$1,752	$1.74	23d	1	1.37mi
548 Main St Unit 2 Portland, CT	3.0	1.0	1005	$1,752	$1.74	1d	1	1.37mi

Listing history 2 events

1. 2026-05-14
   status Under Contract 1497-char remark
2. 2026-05-06
   listed $299,900 Active 1497-char remark

ⓘ 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: $3,462 · $288/mo
• Projected year-2 tax: $4,940 · $412/mo
• Expected delta: +$1,478/yr (+$123/mo · 42.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,699
• − Mortgage interest: −$16,799
• − Property taxes: −$3,462
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,616
• − Management: −$2,616
• − Depreciation: −$8,724
• Taxable loss: −$3,018
• Est. tax savings @ 24.0%: +$724
• After-tax cash flow: $2,723/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: Cromwell School District
• NCES district ID: 0900990
• Math proficiency: 51% ▼ -7.00%
• Reading proficiency: 58% ▼ -9.00%
• Median HH income: $80,252
• Composite: 49.39/100
• National rank: #2013
• State rank: #63 of 153 in CT

Livability — Portland

• Score: 76/100
• State rank: #57
• US rank: #3527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Middlesex County · 63,941 people
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 14,334
• Household income: $110,596
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 188.0

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 12% Hispanic / Latino 9% Asian 6% Black 6%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 11% Lithuanian 5% Italian 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% Other Indo-European 2% Russian/Polish/Slavic 2%

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: ▼ -49.38%
• Current HPI: 259.9702
• Rent YoY: —
• Metro: Hartford-East Hartford-Middletown, 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

+5.9% since first listed

3 events — show timeline

• 2026-06-09 Sold (MLS) $317,500 Smart MLS
• 2026-05-14 Pending — Smart MLS
• 2026-05-06 Listed $299,900 Smart MLS

Property tax history

+1.3%/yr

Latest (2022): $3,462 · +0.0% YoY. Source: county tax records.