24 E St · Long Hill, CT 06340

$70,000

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 1 Days on market

Built 1964 $660/mo HOA · 31% of rent

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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
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Near a total remodel this 1 bedroom mobile home is better than any condo at the same price. You get a move in condition home with new stove, refrigerator, dishwasher, flooring, thermopane windows and new deck. New propane furnace. Also no more laundry mat or shared w/d facility. And better yet no water, sewer or trash pick fees. Walk to a variety of shopping and restaurants. Close to major employers and walk to public transportation. Only minutes to the beach and State park. Ground lease is $525.oo and includes water, septic and track removal. Owner gets his own 2 car off street parking and their own yard space to garden.

Key facts

• Tile backsplash
• Vinyl plank flooring
• Parking

Tags

• UPDATED KITCHEN CABINETS
• TILE BACKSPLASH
• VINYL PLANK FLOORING
• CENTRAL AIR CONDITIONING
• DEDICATED PARKING SPACES
• MOVE-IN READY CONDITION

Property features AI

Finance

• Other: Nearby amenities include commuter bus, library, medical facilities, park, public transportation and shopping
• Financial info: Property managed professionally off site
• HOA & community: Homeowners association with monthly fee; HOA fee covers trash pickup, water, sewer, property management, road maintenance and insurance

Exterior

• Parking: One parking space; Off-street parking via gravel driveway (unpaved)
• Utilities: Public water connected; Septic system; Electric hot water
• Home design: Single-family home for sale; On leased land; Gray exterior color
• Construction: Frame construction; No listed foundation
• Exterior features: Aluminum siding; Deck; Level lot; Gravel driveway; Off-street unpaved parking and driveway

Interior

• Kitchen: Gas range; Microwave; Range hood; Refrigerator; Dishwasher
• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Propane-fueled heat (above-ground tank)
• Interior features: Central air conditioning; Thermopane windows; No basement
• Laundry & utility: Washer and dryer located in the bathroom on the main level; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 16.1% vs local median 4.2% in Long Hill — 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 73/100 on livability (#75 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools D, amenities F, commute 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.
• Market conditions: Rents rising (+3.8%/yr); 92 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• This rent runs 31% of the median local income ($82k/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 $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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 $39k; list at $70k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 3.02% ✓
• Cap rate: 16.07%
• Cash-on-cash: 34.91%
• DSCR: 2.55
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.75% rent growth · sell at horizon

5-year hold

• IRR: 32.1%
• Equity multiple: 2.38×
• Total profit: $26,999
• Equity at exit: $10,437

10-year hold

• IRR: 40.0%
• Equity multiple: 5.01×
• Total profit: $78,655
• Equity at exit: $6,052

Cash invested: $19,600 (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 06340

• Home prices YoY: -27.9%
• Rents YoY: 3.8%
• Active inventory: 92
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,116 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$45 /mo · $544/yr
• Insurance: −$29
• HOA: −$660
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $570

Break-even live

Break-even rent $1,394

Max offer price $70,000

Occupancy floor 68%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
41 South Rd Groton, CT	1.0–2.0	1.0	818	$2,085	$2.55	12d	1	0.77mi
300 Michelle Ln Groton, CT	1.0–2.0	1.0–2.0	890	$2,110	$2.37	12d	1	0.82mi
106 Midway Oval Groton, CT	2.0	1.0	625	$3,000	$4.80	44d	1	1.24mi
359 Long Hill Rd Groton, CT	1.0	1.0	625	$1,550	$2.48	44d	1	1.31mi

HOA detail

• Monthly dues: $660 · $7,920/yr
• Likely covers: watersewertrash

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $70,000 Active 1 DOM

ⓘ 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: $544 · $45/mo
• Projected year-2 tax: $1,021 · $85/mo
• Expected delta: +$477/yr (+$40/mo · 87.7%)

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

Taxation est. · year 1

• Rental income: $25,395
• − Mortgage interest: −$3,921
• − Property taxes: −$544
• − Insurance: −$350
• − Repairs & maintenance: −$2,032
• − Management: −$2,032
• − HOA: −$7,920
• − Depreciation: −$2,036
• Taxable income: $6,561
• Est. tax owed @ 24.0%: −$1,575
• After-tax cash flow: $5,269/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: 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 — Long Hill

• Score: 73/100
• State rank: #75
• US rank: #5502

Category grades

Amenities F 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

• County: New London County · 147,197 people
• Metro: Norwich-New London, CT
• Population (ZIP): 29,863
• Household income: $81,792
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 1710.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 11% Asian 7% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 2% Other Indo-European 2%

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: ▼ -97.61%
• Current HPI: 252.846
• Rent YoY: ▲ 3.75%
• 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

+900.0% since first listed

6 events — show timeline

• 2026-06-18 Listed $70,000 Smart MLS
• 2020-10-26 Sold (MLS) $39,000 Smart MLS
• 2020-09-05 Listed $39,900 Smart MLS
• 2014-08-15 Sold (Public Records) $6,000 Public Records
• 2014-08-15 Sold (MLS) $6,000 Smart MLS
• 2014-06-14 Listed $7,000 Smart MLS

Property tax history

+6.1%/yr

Latest (2022): $544 · +125.7% YoY. Source: county tax records.