67 Peck St · Norwich, CT 06360

$325,000

6 bd · 2.0 ba · 2,232 sqft · MultiFamily public records · 9 Days on market

Built 1885 8,712 sqft lot Est $306k · 6% over

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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 +23.4/30.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• ARV discount +4.7/15.0
• 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

Multi-family units

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

Listing remarks MLS

Large units, all separate utilities, tenant pays all utilities. Plenty of parking. Great investment or owner occupied. Selling as-is

Key facts

• 8,712 sq ft lot
• Built 1885
• Listed 8 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive. Per door: $300/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Cap rate 8.5% 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-.
• 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.
• Zoned schools: Uncas Elementary School (math 17% / reading 27%, grade F, #433 of 553 statewide, top 80%, 239 students, 82% FRL) — zoned schools average 82% FRL vs 62% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.6%/yr); 241 active listings in the ZIP; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• At $3,597/mo this rent would consume 66% of the median local household income ($66k/yr) (locally 1643% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $91k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 29y 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 $25k; list at $325k implies a 1200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $325,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.11% ✓
• Cap rate: 8.51%
• Cash-on-cash: 7.92%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $305,784
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
41 Peck St	0.07mi	5/2.0 (-1)	2,199 (-2%)	1mo	$170,000	$77	89
257 W Main St	0.30mi	6/2.0	2,146 (-4%)	13mo	$295,000	$137	69
61 School St	0.65mi	6/3.0	2,345 (+5%)	6mo	$279,900	$119	52
147 Asylum St	0.48mi	7/2.0 (+1)	2,498 (+12%)	8mo	$330,000	$132	46
11 Alice St	0.36mi	5/2.0 (-1)	1,918 (-14%)	13mo	$290,000	$151	44
1 Tyler Ave	0.73mi	6/2.5	2,428 (+9%)	13mo	$402,000	$166	39
16 Kinney Ave	0.68mi	5/2.0 (-1)	2,496 (+12%)	11mo	$344,000	$138	34

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 · 6.62% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-781
• Equity at exit: $48,459

10-year hold

• IRR: 12.9%
• Equity multiple: 2.20×
• Total profit: $108,813
• Equity at exit: $28,100

Cash invested: $91,000 (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 06360

• Home prices YoY: -19.9%
• Rents YoY: 6.6%
• Active inventory: 241
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $3,597 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$401 /mo · $4,815/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$755
• Net cashflow: $601

Break-even live

Break-even rent $2,837

Max offer price $325,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,598
Total (2 units)			$3,597

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $325,000 Active 9 DOM
2. 2026-06-18
   days on market $325,000 Active 8 DOM
3. 2026-06-17
   status $325,000 Active 7 DOM
4. 2026-04-22
   status Under Contract
5. 2026-04-15
   listed $325,000 Active
6. 2017-01-30
   soldstatus $25,000 132-char remark

   Show marketing remark (132 chars)

   Large units, all separate utilities, tenant pays all utilities. Plenty of parking. Great investment or owner occupied. Selling as-is

7. 2016-12-08
   listed $90,000 132-char remark

   Show marketing remark (132 chars)

   Large units, all separate utilities, tenant pays all utilities. Plenty of parking. Great investment or owner occupied. Selling as-is

8. 2015-02-07
   historical
9. 2014-08-07
   listed $109,000
10. 2014-05-15
    historical
11. 2013-05-15
    listed $129,900
12. 2012-01-21
    historical
13. 2011-01-26
    historical
14. 2011-01-21
    listed $155,000
15. 2010-09-24
    listed $155,000
16. 2010-06-21
    historical
17. 2010-06-14
    listed $179,900
18. 2008-01-26
    historical
19. 2007-07-26
    listed $259,900
20. 2002-03-05
    soldstatus $125,000
21. 2001-12-06
    listed $129,900
22. 1998-04-14
    historical
23. 1997-10-14
    listed $104,900

ⓘ 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: $4,815 · $401/mo
• Projected year-2 tax: $5,885 · $490/mo
• Expected delta: +$1,070/yr (+$89/mo · 22.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 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: $43,164
• − Mortgage interest: −$18,205
• − Property taxes: −$4,815
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,453
• − Management: −$3,453
• − Depreciation: −$9,455
• Taxable income: $2,158
• Est. tax owed @ 24.0%: −$518
• After-tax cash flow: $6,690/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

+209.8% since first listed

20 events — show timeline

• 2026-04-22 Pending — Smart MLS
• 2026-04-15 Listed $325,000 Smart MLS
• 2017-01-30 Sold (MLS) $25,000 Smart MLS
• 2016-12-08 Listed $90,000 Smart MLS
• 2015-02-07 Listing Removed — Smart MLS
• 2014-08-07 Listed $109,000 Smart MLS
• 2014-05-15 Listing Removed — Smart MLS
• 2013-05-15 Listed $129,900 Smart MLS
• 2012-01-21 Listing Removed — Smart MLS
• 2011-01-26 Listing Removed — Smart MLS
• 2011-01-21 Listed $155,000 Smart MLS
• 2010-09-24 Listed $155,000 Smart MLS
• 2010-06-21 Listing Removed — Smart MLS
• 2010-06-14 Listed $179,900 Smart MLS
• 2008-01-26 Listing Removed — Smart MLS
• 2007-07-26 Listed $259,900 Smart MLS
• 2002-03-05 Sold (MLS) $125,000 Smart MLS
• 2001-12-06 Listed $129,900 Smart MLS
• 1998-04-14 Listing Removed — Smart MLS
• 1997-10-14 Listed $104,900 Smart MLS

Property tax history

+0.8%/yr

Latest (2023): $4,815 · +0.3% YoY. Source: county tax records.