21 Harvey Dr · Westbrook Center, CT 06475

$185,000

2 bd · 1.0 ba · 792 sqft · SingleFamily public records · 7 Days on market

Built 1971 $618/mo HOA · 18% 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
• Schools +4.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

It's time to own your beach home in the heart of Old Saybrook! This well-maintained mobile home is located within a 55+ coastal community. The home features two spacious bedrooms and an open-concept living and dining area. The kitchen boasts ample cabinets and vibrant color. Step through the sliding door to a bright built-in porch, perfect for relaxing. Recent updates include a new roof and a stackable washer and dryer, offering comfort and convenience in a move-in ready home. Enjoy easy single-level living, low maintenance, and close proximity to shopping, dining, highways, and Old Saybrook's shoreline attractions. Call today - this home won't last! Purchase contingent on buyer approval by

Key facts

• Built-in porch
• Beach home
• Single-level living

Tags

• BEACH HOME
• OPEN-CONCEPT LIVING
• BUILT-IN PORCH
• NEW ROOF
• STACKABLE WASHER AND DRYER
• SINGLE-LEVEL LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $185k).

Location & tenants

• Location reads 73/100 on livability (#69 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, employment A-; Watch: amenities F, commute F, cost of living F.
• Old Saybrook School District (suburban): math 45% / reading 64% proficiency, ranked #66 of 153 in CT (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Kathleen E. Goodwin School (math 52% / reading 67%, grade B-, #159 of 553 statewide, top 31%, 401 students, 24% FRL); Old Saybrook Senior High School (math 42% / reading 62%, grade D+, #80 of 194 statewide, top 44%, 347 students, 22% FRL).
• Market conditions: 69 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~6 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

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,000

Questions for the listing agent

1. Built in 1971 — 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 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?
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: 1.89% ✓
• Cap rate: 12.92%
• Cash-on-cash: 23.66%
• DSCR: 2.05
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $523,512
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Stone Hedge Rd	0.72mi	2/1.0	792 (0%)	5mo	$165,000	$208	62
39 Sagamore Terrace Rd	0.69mi	2/1.0	825 (+4%)	3mo	$545,000	$661	59
6 Tucker Rd	0.66mi	2/1.5	780 (-2%)	14mo	$630,250	$808	53
33 Green Acres Park Dr	0.44mi	2/1.0	728 (-8%)	21mo	$66,500	$91	49

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: 16.9%
• Equity multiple: 1.68×
• Total profit: $35,410
• Equity at exit: $27,584

10-year hold

• IRR: 25.5%
• Equity multiple: 3.24×
• Total profit: $115,973
• Equity at exit: $15,995

Cash invested: $51,800 (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 06475

• Active inventory: 69
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$78 /mo · $941/yr
• Insurance: −$77
• HOA: −$618
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $1,021

Break-even live

Break-even rent $2,207

Max offer price $185,000

Occupancy floor 66%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Thompson Ln Old Saybrook, CT	3.0	2.0	1100	$3,500	$3.18	44d	1	0.38mi

HOA detail

• Monthly dues: $618 · $7,416/yr

Listing history 2 events

1. 2026-03-15
   status Under Contract
2. 2026-03-08
   listed $185,000 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: $941 · $78/mo
• Projected year-2 tax: $2,450 · $204/mo
• Expected delta: +$1,509/yr (+$126/mo · 160.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,000
• − Mortgage interest: −$10,363
• − Property taxes: −$941
• − Insurance: −$925
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − HOA: −$7,416
• − Depreciation: −$5,382
• Taxable income: $10,253
• Est. tax owed @ 24.0%: −$2,461
• After-tax cash flow: $9,795/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: Old Saybrook School District
• NCES district ID: 0903180
• Math proficiency: 45% ▼ -19.00%
• Reading proficiency: 64% ▼ -10.00%
• Median HH income: $74,710
• Composite: 48.81/100
• National rank: #2090
• State rank: #66 of 153 in CT

Livability — Westbrook Center

• Score: 73/100
• State rank: #69
• US rank: #5086

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,515

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 4% Asian 1% Native American 1%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 8% Lithuanian 4% Iranian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Spanish 7% Russian/Polish/Slavic 1% Other Indo-European 1%

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: ▼ -222.11%
• Current HPI: 301.8614
• 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

2 events — show timeline

• 2026-03-15 Pending — Smart MLS
• 2026-03-08 Listed $185,000 Smart MLS

Property tax history

+1.4%/yr

Latest (2023): $941 · +1.8% YoY. Source: county tax records.