36 Church St · Killingly, CT 06241

$375,000

9 bd · 2.0 ba · 2,678 sqft · MultiFamily public records · 93 Days on market

Built 1880 0.37 ac lot $140/sqft · 11% above area Est $339k · 11% 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 +28.1/30.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• Schools +2.9/10.0
• ARV discount +2.7/15.0
• Rent growth +2.5/5.0
• Livability +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 MLS

Well-maintained two-family home located in a convenient area of Killingly, Connecticut. Each unit offers three spacious bedrooms and one full bathroom, with plenty of windows throughout allowing for abundant natural light. Both units include in-unit washer and dryer for added convenience. Unit 36A is equipped with a Navien propane system and mini-split heating and cooling, while Unit 36B features a Navien propane system. Both systems have been recently serviced, with records available through March 2026. Off-street parking adds additional ease for residents. The property also includes outbuildings, which are unheated and without electricity; contents will be removed prior to closing. Ideally located near the Danielson area with easy access to local shops, restaurants, and everyday amenities. Convenient to Interstate 395 and Route 6, with nearby access to Putnam, Connecticut and the Quinebaug River.

Key facts

• Outbuildings
• Two-family home
• Off-street parking

Tags

• TWO-FAMILY HOME
• IN-UNIT WASHER AND DRYER
• NAVIEN PROPANE SYSTEM
• MINI-SPLIT HEATING AND COOLING
• OFF-STREET PARKING
• OUTBUILDINGS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $590/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Recommended offer: $341k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Killingly School District (rural): math 21% / reading 44% proficiency, ranked #119 of 153 in CT (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $105k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($341k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $120k; list at $375k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $341,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.49%
• DSCR: 1.60
• GRM: 7.1

CMA / ARV

• ARV (median comp): $338,960
• List price: $375,000
• Delta: 10.63%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $14,301
• Equity at exit: $55,914

10-year hold

• IRR: 13.0%
• Equity multiple: 2.04×
• Total profit: $108,808
• Equity at exit: $32,423

Cash invested: $105,000 (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 06241

• Home prices YoY: -14.2%
• Active inventory: 33
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $4,410 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$181 /mo · $2,169/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$926
• Net cashflow: $1,180

Break-even live

Break-even rent $2,916

Max offer price $375,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,410
Total (2 units)			$4,410

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $375,000 Active 93 DOM
2. 2026-06-17
   days on market $375,000 Active 92 DOM
3. 2026-06-16
   days on market $375,000 Active 91 DOM
4. 2026-06-15
   days on market $375,000 Active 90 DOM
5. 2026-06-14
   days on market $375,000 Active 88 DOM
6. 2026-06-13
   days on market $375,000 Active 87 DOM
7. 2026-06-10
   days on market $375,000 Active 85 DOM
8. 2026-06-09
   days on market $375,000 Active 84 DOM
9. 2026-06-08
   days on market $375,000 Active 83 DOM
10. 2026-06-07
    days on market $375,000 Active 82 DOM
11. 2026-06-05
    days on market $375,000 Active 79 DOM
12. 2026-06-03
    days on market $375,000 Active 78 DOM
13. 2026-06-02
    days on market $375,000 Active 77 DOM
14. 2026-06-01
    days on market $375,000 Active 76 DOM
15. 2026-05-31
    days on market $375,000 Active 75 DOM
16. 2026-05-31
    days on market $375,000 Active 74 DOM
17. 2026-04-27
    price $375,000 911-char remark

    Show marketing remark (911 chars)

    Well-maintained two-family home located in a convenient area of Killingly, Connecticut. Each unit offers three spacious bedrooms and one full bathroom, with plenty of windows throughout allowing for abundant natural light. Both units include in-unit washer and dryer for added convenience. Unit 36A is equipped with a Navien propane system and mini-split heating and cooling, while Unit 36B features a Navien propane system. Both systems have been recently serviced, with records available through March 2026. Off-street parking adds additional ease for residents. The property also includes outbuildings, which are unheated and without electricity; contents will be removed prior to closing. Ideally located near the Danielson area with easy access to local shops, restaurants, and everyday amenities. Convenient to Interstate 395 and Route 6, with nearby access to Putnam, Connecticut and the Quinebaug River.

18. 2026-04-07
    price $380,000 911-char remark

    Show marketing remark (911 chars)

    Well-maintained two-family home located in a convenient area of Killingly, Connecticut. Each unit offers three spacious bedrooms and one full bathroom, with plenty of windows throughout allowing for abundant natural light. Both units include in-unit washer and dryer for added convenience. Unit 36A is equipped with a Navien propane system and mini-split heating and cooling, while Unit 36B features a Navien propane system. Both systems have been recently serviced, with records available through March 2026. Off-street parking adds additional ease for residents. The property also includes outbuildings, which are unheated and without electricity; contents will be removed prior to closing. Ideally located near the Danielson area with easy access to local shops, restaurants, and everyday amenities. Convenient to Interstate 395 and Route 6, with nearby access to Putnam, Connecticut and the Quinebaug River.

19. 2026-03-17
    listed $390,000 Active 911-char remark

    Show marketing remark (911 chars)

    Well-maintained two-family home located in a convenient area of Killingly, Connecticut. Each unit offers three spacious bedrooms and one full bathroom, with plenty of windows throughout allowing for abundant natural light. Both units include in-unit washer and dryer for added convenience. Unit 36A is equipped with a Navien propane system and mini-split heating and cooling, while Unit 36B features a Navien propane system. Both systems have been recently serviced, with records available through March 2026. Off-street parking adds additional ease for residents. The property also includes outbuildings, which are unheated and without electricity; contents will be removed prior to closing. Ideally located near the Danielson area with easy access to local shops, restaurants, and everyday amenities. Convenient to Interstate 395 and Route 6, with nearby access to Putnam, Connecticut and the Quinebaug River.

20. 2021-04-09
    soldstatus $120,000 Closed 206-char remark

    Show marketing remark (206 chars)

    Spacious diamond in the rough 2 Family with electric & window updates on a larger parcel in as is condition. Brochure box on site for drive by. Home needs work, but Worth the effort. As is buyer wanted.

21. 2021-03-15
    listed $150,000 Active 206-char remark

    Show marketing remark (206 chars)

    Spacious diamond in the rough 2 Family with electric & window updates on a larger parcel in as is condition. Brochure box on site for drive by. Home needs work, but Worth the effort. As is buyer wanted.

ⓘ 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: $2,169 · $181/mo
• Projected year-2 tax: $5,097 · $425/mo
• Expected delta: +$2,928/yr (+$244/mo · 135.0%)

ⓘ 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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,920
• − Mortgage interest: −$21,006
• − Property taxes: −$2,169
• − Insurance: −$1,875
• − Repairs & maintenance: −$4,234
• − Management: −$4,234
• − Depreciation: −$10,909
• Taxable income: $8,494
• Est. tax owed @ 24.0%: −$2,039
• After-tax cash flow: $12,126/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: Killingly School District
• NCES district ID: 0902070
• Math proficiency: 21% ▼ -19.00%
• Reading proficiency: 44% ▼ -14.00%
• Median HH income: $55,485
• Composite: 28.71/100
• National rank: #6684
• State rank: #119 of 153 in CT

Livability — Killingly

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 11,185
• Population (ZIP): 6,317

Population outlook (Northeastern Connecticut County) Hauer SSP2

• By 2040: 104,160

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 20% Romanian 7% Russian 3%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Northeastern Connecticut

• 2024 margin: R (+15.4) · D 41.5% · R 57.0% · Other 1.5%
• All cycles: 2024: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.86%
• Current HPI: 216.1835
• 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

+150.0% since first listed

5 events — show timeline

• 2026-04-27 Price Changed $375,000 Smart MLS
• 2026-04-07 Price Changed $380,000 Smart MLS
• 2026-03-17 Listed $390,000 Smart MLS
• 2021-04-09 Sold (MLS) $120,000 Smart MLS
• 2021-03-15 Listed $150,000 Smart MLS

Property tax history

-0.3%/yr

Latest (2023): $2,169 · +6.3% YoY. Source: county tax records.