183 South St · Rockville, CT 06066

$259,900

3 bd · 3.0 ba · 1,620 sqft · MultiFamily public records · 13 Days on market

Built 1910 0.47 ac lot $160/sqft · 18% below area Est $316k · 18% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• 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

* * OFFER DEADLINE FRIDAY, 5/8 AT NOON * * The perfect investment opportunity awaits in this 2 family home located on . 47 acres. Structurally, and mechanically, it's in great shape. The gas hot air furnace and hot water heater are 10 years old. The house is vinyl sided and there are thermopane windows. The 1st floor has 5 RM, 2 BR. Upstairs, 3 RM, 1 BR. The basement was previously used as an in-law and has a full bath plus 2 ways of egress. There is one heating system for the building but 2 electric meters. There is plenty of parking and the large stone markers show the lot line. The property includes the yard that borders Vernon Ave. Don't miss out on a chance to build some sweat equit

Key facts

• Vinyl sided
• Two ways of egress
• Plenty of parking

Tags

• VINYL SIDED
• THERMOPANE WINDOWS
• FULL BATH
• TWO WAYS OF EGRESS
• PLENTY OF PARKING

Property features AI

Finance

• Other: Property listed as Multi-Family For Sale
• Financial info: Assessed value listed (not included per instructions)
• HOA & community: No HOA details provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family 2-family property
• Construction: Built with frame construction; Stone foundation; Vinyl siding; Asphalt shingle roof; White exterior color
• Exterior features: Corner, level lot; Shed

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 3 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating; Natural gas hot water; Thermopane windows (energy feature)
• Interior features: 8 total rooms; Full basement with concrete floor, partially finished and includes a hatchway; Has an attic (crawl space)
• Laundry & utility: First-floor unit has laundry; Unit 1 includes washer/dryer hook-up

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $746/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $260k).
• Cap rate 13.2% vs local median 3.5% in Rockville — 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 73/100 on livability (#73 in CT) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, crime B+; Watch: employment D, amenities F, commute F.
• Vernon School District (suburban): math 34% / reading 48% proficiency, ranked #97 of 153 in CT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rockville High School (math 22% / reading 52%, grade F, #112 of 194 statewide, top 60%, 932 students, 48% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 83 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $4,281/mo this rent would consume 60% of the median local household income ($85k/yr) (locally 1140% 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 + 4.7% rent growth), your $73k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $259,900

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 1910 — 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. 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 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: 1.65% ✓
• Cap rate: 13.18%
• Cash-on-cash: 24.61%
• DSCR: 2.09
• GRM: 5.1

CMA / ARV

• ARV (median comp): $315,849
• List price: $259,900
• Delta: -17.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
183 South St	0.00mi	3/2.0	1,620 (0%)	0mo	$301,000	$186	96

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 · 4.73% rent growth · sell at horizon

5-year hold

• IRR: 20.0%
• Equity multiple: 1.83×
• Total profit: $60,630
• Equity at exit: $38,752

10-year hold

• IRR: 29.4%
• Equity multiple: 3.86×
• Total profit: $207,897
• Equity at exit: $22,471

Cash invested: $72,772 (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 06066

• Rents YoY: 4.7%
• Active inventory: 83
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $4,281 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$418 /mo · $5,022/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$899
• Net cashflow: $1,492

Break-even live

Break-even rent $2,392

Max offer price $259,900

Occupancy floor 60%

Sensitivity live

Price	-10% $1,639	-5% $1,566	+0% $1,492	+5% $1,419	+10% $1,345
Rent	-10% $1,154	-5% $1,323	+0% $1,492	+5% $1,661	+10% $1,830
Rate	-1.0pp $1,623	-0.5pp $1,558	base $1,492	+0.5pp $1,425	+1.0pp $1,356

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,282
Total (2 units)			$4,281

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Eastview Dr Vernon, CT	3.0	2.5	1480	$2,550	$1.72	45d	1	0.85mi
2 Eastview Dr Unit 1 Vernon, CT	3.0	1.5	1480	$2,550	$1.72	45d	1	0.88mi
Woodland St Vernon, CT	3.0	1.0	1500	$2,675	$1.78	4d	1	1.05mi
3 Russell Dr Tolland, CT	3.0	1.5	1196	$2,200	$1.84	20d	1	1.48mi

Listing history 2 events

1. 2026-05-12
   status Under Contract 693-char remark
2. 2026-04-29
   listed $259,900 Active 693-char remark

ⓘ 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: $5,022 · $418/mo
• Projected year-2 tax: $5,292 · $441/mo
• Expected delta: +$270/yr (+$22/mo · 5.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $51,372
• − Mortgage interest: −$14,558
• − Property taxes: −$5,022
• − Insurance: −$1,300
• − Repairs & maintenance: −$4,110
• − Management: −$4,110
• − Depreciation: −$7,561
• Taxable income: $14,712
• Est. tax owed @ 24.0%: −$3,531
• After-tax cash flow: $14,376/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: Vernon School District
• NCES district ID: 0904680
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $60,342
• Composite: 36.26/100
• National rank: #4704
• State rank: #97 of 153 in CT

Livability — Rockville

• Score: 73/100
• State rank: #73
• US rank: #5355

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Tolland County · 46,815 people
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 30,577
• Household income: $85,356
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1140.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 12% Two or more races 7% Asian 6% Black 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 9%
• Common ancestry: Lithuanian 8% Romanian 7% Slovak 2%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 6% Other Indo-European 5% 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: ▼ -136.25%
• Current HPI: 249.7888
• Rent YoY: ▲ 4.73%
• Metro: Hartford-East Hartford-Middletown, 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

+15.8% since first listed

3 events — show timeline

• 2026-06-17 Sold (MLS) $301,000 Smart MLS
• 2026-05-12 Pending — Smart MLS
• 2026-04-29 Listed $259,900 Smart MLS

Property tax history

+1.9%/yr

Latest (2023): $5,022 · +10.9% YoY. Source: county tax records.