252 Old Canterbury Tpke Lot 89 · Norwich, CT 06360

$35,000

2 bd · 1.0 ba · 744 sqft · Manufactured public records · 60 Days on market

Built 1970

---

Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Listing remarks MLS

12X60 two bedroom/one bath mobile home. Completely renovated. Located on 70 acres with a picturesque country setting. Sale subject to park approval of buyer. Owner agent related. Current lot rent is $380/month. Only mobile home conveys. Call-n-go. Mechanical lockbox. Sale subject to park approval of buyer. Owner agent related.

Key facts

• Small deck
• Updated cabinets
• Updated windows

Tags

• UPDATED WINDOWS
• UPDATED FURNACE
• UPDATED FLOORING
• UPDATED CABINETS
• BREAKFAST BAR
• SMALL DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $35k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 44.1% 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-; Watch: schools D+.
• 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.
• 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).
• This rent runs 31% of the median local income ($66k/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 $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $10k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 4.81% ✓
• Cap rate: 44.06%
• Cash-on-cash: 134.87%
• DSCR: 7.00
• GRM: 1.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.62% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.23×
• Total profit: $70,854
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 19.39×
• Total profit: $180,214
• Equity at exit: $3,026

Cash invested: $9,800 (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 06360

• Home prices YoY: -19.9%
• Rents YoY: 6.6%
• Active inventory: 241
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,685 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$31 /mo · $377/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $1,101

Break-even live

Break-even rent $291

Max offer price $35,000

Occupancy floor 30%

Sensitivity live

Price	-10% $1,121	-5% $1,111	+0% $1,101	+5% $1,091	+10% $1,082
Rent	-10% $968	-5% $1,035	+0% $1,101	+5% $1,168	+10% $1,234
Rate	-1.0pp $1,119	-0.5pp $1,110	base $1,101	+0.5pp $1,092	+1.0pp $1,083

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-27
   status Under Contract
2. 2026-04-03
   price $35,000
3. 2026-03-10
   price $39,900
4. 2026-02-26
   listed $45,000 Active
5. 2010-10-12
   soldstatus $29,900 328-char remark

   Show marketing remark (328 chars)

   12X60 two bedroom/one bath mobile home. Completely renovated. Located on 70 acres with a picturesque country setting. Sale subject to park approval of buyer. Owner agent related. Current lot rent is $380/month. Only mobile home conveys. Call-n-go. Mechanical lockbox. Sale subject to park approval of buyer. Owner agent related.

6. 2010-09-13
   listed $29,900 328-char remark

   Show marketing remark (328 chars)

   12X60 two bedroom/one bath mobile home. Completely renovated. Located on 70 acres with a picturesque country setting. Sale subject to park approval of buyer. Owner agent related. Current lot rent is $380/month. Only mobile home conveys. Call-n-go. Mechanical lockbox. Sale subject to park approval of buyer. Owner agent related.

ⓘ 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: $377 · $31/mo
• Projected year-2 tax: $563 · $47/mo
• Expected delta: +$186/yr (+$16/mo · 49.3%)

ⓘ 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 4/10 Moderate 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: $20,217
• − Mortgage interest: −$1,961
• − Property taxes: −$377
• − Insurance: −$175
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − Depreciation: −$1,018
• Taxable income: $13,451
• Est. tax owed @ 24.0%: −$3,228
• After-tax cash flow: $9,988/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

+17.1% since first listed

6 events — show timeline

• 2026-04-27 Pending — Smart MLS
• 2026-04-03 Price Changed $35,000 Smart MLS
• 2026-03-10 Price Changed $39,900 Smart MLS
• 2026-02-26 Listed $45,000 Smart MLS
• 2010-10-12 Sold (MLS) $29,900 Smart MLS
• 2010-09-13 Listed $29,900 Smart MLS

Property tax history

-1.3%/yr

Latest (2023): $377 · -0.8% YoY. Source: county tax records.