7 Turner St · Willimantic, CT 06226

$258,950

6 bd · 2.0 ba · 2,145 sqft · MultiFamily public records · 7 Days on market

Built 1895 5,662 sqft lot Est $332k · 22% under

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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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• 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

Fully occupied two family for sale in Willimantic. Full unfinished basement and walk up unfinished attic. each floor long term residents. close to Main Street and university. sale is "as is" condition. inspections for knowledge only. back yard with off street parking. must give days notice for all showings.

Key facts

• Close to main street
• Back yard
• Off street parking

Tags

• FULL UNFINISHED BASEMENT
• WALK UP UNFINISHED ATTIC
• CLOSE TO MAIN STREET
• BACK YARD
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $259k.

Deal economics

• At list price, monthly cash flow is $766 ($9k/yr) — positive. Per door: $383/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Cap rate 9.8% vs local median 4.6% in Willimantic — 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 85/100 on livability (#3 in CT, #487 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, employment F.
• Windham School District (town): math 15% / reading 25% proficiency, ranked #143 of 153 in CT (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 39 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• At $3,155/mo this rent would consume 80% of the median local household income ($47k/yr) (locally 1122% 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 $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $258,950

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 1895 — 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: 1.22% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.68%
• DSCR: 1.56
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $332,475
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7 Turner St	0.00mi	5/2.0 (-1)	2,145 (0%)	1mo	$250,000	$117	94
12 Spruce St	0.06mi	7/3.0 (+1)	1,976 (-8%)	17mo	$247,500	$125	61
22 Carey St	0.31mi	6/3.0	2,255 (+5%)	23mo	$330,000	$146	53
185 High St	0.44mi	5/2.0 (-1)	2,002 (-7%)	13mo	$320,000	$160	53
100 South St	0.58mi	6/2.0	1,932 (-10%)	7mo	$300,000	$155	50
139 South St	0.67mi	5/2.5 (-1)	1,848 (-14%)	3mo	$310,000	$168	37

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: 2.5%
• Equity multiple: 1.09×
• Total profit: $6,835
• Equity at exit: $38,610

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $68,810
• Equity at exit: $22,389

Cash invested: $72,506 (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 06226

• Home prices YoY: -9.3%
• Active inventory: 39
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $3,155 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$261 /mo · $3,127/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $766

Break-even live

Break-even rent $2,185

Max offer price $258,950

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,154
Total (2 units)			$3,155

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: $64,738
• Closing costs: $7,768
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
72 Prospect St Willimantic, CT	5.0	2.0	2000	$2,250	$1.12	43d	1	0.08mi
147 Spring St Willimantic, CT	6.0	2.0	1955	$4,800	$2.46	43d	1	0.40mi
22 Bolivia St Fl 1 Willimantic, CT	5.0	2.0	1600	$2,399	$1.50	14d	1	0.42mi

Listing history 2 events

1. 2026-04-23
   status Under Contract
2. 2026-04-16
   listed $258,950 Active

ⓘ 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: $3,127 · $261/mo
• Projected year-2 tax: $4,334 · $361/mo
• Expected delta: +$1,207/yr (+$101/mo · 38.6%)

ⓘ 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 5/10 Major 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% 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: $37,860
• − Mortgage interest: −$14,505
• − Property taxes: −$3,127
• − Insurance: −$1,295
• − Repairs & maintenance: −$3,029
• − Management: −$3,029
• − Depreciation: −$7,533
• Taxable income: $5,342
• Est. tax owed @ 24.0%: −$1,282
• After-tax cash flow: $7,910/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: Windham School District
• NCES district ID: 0905190
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $40,956
• Composite: 17.01/100
• National rank: #9128
• State rank: #143 of 153 in CT

Livability — Willimantic

• Score: 85/100
• State rank: #3
• US rank: #487

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willimantic, CT
• County: Windham County · 30,529 people
• City population: 19,344
• Metro: Worcester, MA-CT
• Population (ZIP): 19,344
• Household income: $47,162
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 1122.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 45% White 44% Two or more races 20% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 30% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Slovak 1%
• Foreign-born: 9% · Canada, Guatemala, China
• Languages at home: 62% English-only · Spanish 33% Other Indo-European 2% French/Haitian/Cajun 1%

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: ▼ -31.01%
• Current HPI: 301.9706
• Rent YoY: —
• Metro: Worcester, MA-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

2 events — show timeline

• 2026-04-23 Pending — Smart MLS
• 2026-04-16 Listed $258,950 Smart MLS

Property tax history

-0.5%/yr

Latest (2023): $3,127 · +1.5% YoY. Source: county tax records.