1079 Main St · South Coventry, CT 06238

$325,000

7 bd · 3.0 ba · 3,087 sqft · MultiFamily public records · 5 Days on market

Built 1750 0.43 ac lot

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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
• Schools +5.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

Charming Historic 2-Family Home in Prime Coventry Location! Welcome to this rare opportunity to own a piece of Connecticut history! Located at 1079 Main Street in the heart of Coventry, this antique 2-family home (circa 1750) offers timeless character with modern living potential, new roof installed in 2025. Perfect for owner-occupants, investors, or anyone seeking rental income in a highly desirable area. This home is a standout example of late 18th-century New England design. Spacious 2-Family Layout: Ideal for multi-generational living or generating income. 6 bedrooms 2 bath in main home and 2 bedroom 1 bath in 2nd unit. Just minutes from the University of Connecticut (UConn) in Storrs -

Key facts

• 0.43 acre lot
• 4 parking spots
• Built 1750

Property features AI

Exterior

• Parking: Off-street parking via unpaved driveway (shared); 4 total parking spaces
• Utilities: Public water connected; Public sewer connected; Propane hot water
• Home design: Multi-family, 2-family property
• Construction: Frame construction; Stone foundation
• Exterior features: Level lot; Vinyl siding; Asphalt shingle roof; White exterior color

Interior

• Bedrooms: 7 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating; Heat fuel: electric and propane; Above-ground fuel tank
• Interior features: 13 total rooms; Full unfinished basement; 2 fireplaces; Window unit cooling
• Laundry & utility: Main house laundry located in bathroom; 40-gallon propane hot water tank

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $934/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $325k).

Location & tenants

• Location reads 70/100 on livability (#97 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D+, amenities F, commute F.
• Coventry School District (rural): math 57% / reading 71% proficiency, ranked #30 of 153 in CT (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 59 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 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 $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y ago; this cycle's ask is 58% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $135k; list at $325k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1750 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 45% chance of damaging wind over 30y — 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 1750 — 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 A-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?
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: 1.63% ✓
• Cap rate: 13.19%
• Cash-on-cash: 24.63%
• DSCR: 2.10
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 18.0%
• Equity multiple: 1.73×
• Total profit: $66,435
• Equity at exit: $48,459

10-year hold

• IRR: 26.5%
• Equity multiple: 3.32×
• Total profit: $211,555
• 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 06238

• Home prices YoY: -31.6%
• Active inventory: 59
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $5,300 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$479 /mo · $5,751/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,113
• Net cashflow: $1,868

Break-even live

Break-even rent $2,935

Max offer price $325,000

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$5,300
Total (2 units)			$5,300

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 17 events

1. 2026-06-03
   statusdays on market $325,000 Under Contract 5 DOM
2. 2026-06-02
   days on market $325,000 Active 4 DOM
3. 2026-06-01
   days on market $325,000 Active 3 DOM
4. 2026-05-31
   days on market $325,000 Active 2 DOM
5. 2026-05-27
   historical $325,000
6. 2014-12-31
   historical
7. 2014-05-24
   listed $206,000
8. 2012-05-23
   historical
9. 2012-01-23
   listed $239,900
10. 2001-06-28
    soldstatus $135,000
11. 2001-06-28
    soldstatus $135,000
12. 2001-06-26
    soldstatus $135,000
13. 2001-06-26
    soldstatus $135,000
14. 2000-08-25
    listed $135,000
15. 2000-08-08
    listed $135,000
16. 1989-05-10
    soldstatus $110,000
17. 1988-03-30
    soldstatus $87,000

ⓘ 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: $5,751 · $479/mo
• Projected year-2 tax: $6,353 · $529/mo
• Expected delta: +$602/yr (+$50/mo · 10.5%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 45% 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: $63,600
• − Mortgage interest: −$18,205
• − Property taxes: −$5,751
• − Insurance: −$1,625
• − Repairs & maintenance: −$5,088
• − Management: −$5,088
• − Depreciation: −$9,455
• Taxable income: $18,388
• Est. tax owed @ 24.0%: −$4,413
• After-tax cash flow: $18,003/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: Coventry School District
• NCES district ID: 0900960
• Math proficiency: 57% ▼ -11.00%
• Reading proficiency: 71% ▼ -6.00%
• Median HH income: $88,074
• Composite: 57.98/100
• National rank: #1037
• State rank: #30 of 153 in CT

Livability — South Coventry

• Score: 70/100
• State rank: #97
• US rank: #7545

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Coventry, CT
• Population (ZIP): 12,267

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Common ancestry: Romanian 9% Lithuanian 7% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 3% French/Haitian/Cajun 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Capitol

• 2024 margin: Strong D (+21.9) · D 60.1% · R 38.2% · Other 1.7%
• All cycles: 2024: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.22%
• Current HPI: 258.0578
• 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

+273.6% since first listed

13 events — show timeline

• 2026-05-27 Coming Soon $325,000 Smart MLS
• 2014-12-31 Listing Removed — Smart MLS
• 2014-05-24 Listed $206,000 Smart MLS
• 2012-05-23 Listing Removed — Smart MLS
• 2012-01-23 Listed $239,900 Smart MLS
• 2001-06-28 Sold (Public Records) $135,000 Public Records
• 2001-06-28 Sold (Public Records) $135,000 Public Records
• 2001-06-26 Sold (MLS) $135,000 Smart MLS
• 2001-06-26 Sold (MLS) $135,000 Smart MLS
• 2000-08-25 Listed $135,000 Smart MLS
• 2000-08-08 Listed $135,000 Smart MLS
• 1989-05-10 Sold (Public Records) $110,000 Public Records
• 1988-03-30 Sold (Public Records) $87,000 Public Records

Property tax history

+0.9%/yr

Latest (2023): $5,751 · +1.9% YoY. Source: county tax records.