2582 Boston Tpke · Coventry Lake, CT 06238

$189,900

2 bd · 1.0 ba · 1,146 sqft · SingleFamily public records · 18 Days on market

Built 1954 1.08 ac lot Est $319k · 40% under

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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 +19.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• Schools +5.8/10.0
• 1% rule +5.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

""""Seller has received multiple offers on this property. The Seller is calling for highest and best by the end of Tuesday April 21st and will be discussing decision Wednesday April 22nd"""""Terrific lot with a home with a open modern type floor plan. 3 bedrooms, living room and kitchen open to each other. The potential here is extensive! But to be perfectly clear this house needs a lot of work. The lot is generally gentle to level. Lots of usable space. The seller apparently had started some work years ago that they never completed. Houses in fair to poor condition. May not qualify for most financing options. No showings will be approved until l

Key facts

• Usable space
• Gentle to level lot
• 1.08 acre lot

Tags

• OPEN MODERN TYPE FLOOR PLAN
• GENTLE TO LEVEL LOT
• USABLE SPACE

Property features AI

Exterior

• Utilities: Private well water; Septic sewage system; Hot air heating; Oil-fired heat (oil tank located in basement)
• Home design: Single-family home for sale
• Construction: Frame construction; Concrete foundation
• Exterior features: Level lot; Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Oven/Range
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One fireplace; Full basement with walk-out; Attic with pull-down stairs; Total of 5 rooms
• Laundry & utility: Laundry located on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#92 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Coventry School District (rural): math 57% / reading 71% proficiency, ranked #30 of 153 in CT (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Coventry Academy (18 students, 0% FRL) — zoned schools average 0% FRL vs 16% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 59 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 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.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $187,051 (1.5% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.04% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $318,588
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2582 Boston Tpke	0.00mi	3/1.0 (+1)	1,146 (0%)	1mo	$196,000	$171	94
2508 Boston Tpke	0.11mi	3/1.0 (+1)	1,200 (+5%)	22mo	$333,000	$278	64
32 Fieldstone Ln	0.49mi	3/1.5 (+1)	1,209 (+6%)	15mo	$373,000	$309	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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-17,331
• Equity at exit: $28,315

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $2,375
• Equity at exit: $16,419

Cash invested: $53,172 (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 06238

• Home prices YoY: -31.6%
• Active inventory: 59
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,984 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$282 /mo · $3,383/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $210

Break-even live

Break-even rent $1,718

Max offer price $189,900

Occupancy floor 84%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-02
   status Under Contract
2. 2026-04-23
   historical Under Contract - Continue to Show
3. 2026-04-13
   listed $189,900 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: $3,383 · $282/mo
• Projected year-2 tax: $3,723 · $310/mo
• Expected delta: +$340/yr (+$28/mo · 10.1%)

ⓘ 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 3/10 Moderate 7 d/yr ≥94°F today · 16 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: $23,803
• − Mortgage interest: −$10,637
• − Property taxes: −$3,383
• − Insurance: −$950
• − Repairs & maintenance: −$1,904
• − Management: −$1,904
• − Depreciation: −$5,524
• Taxable loss: −$500
• Est. tax savings @ 24.0%: +$120
• After-tax cash flow: $2,642/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: Coventry School District
• NCES district ID: 0900960
• Math proficiency: 57% ▼ -11.00%
• Reading proficiency: 71% ▼ -6.00%
• Median HH income: $88,074
• Composite: 57.98/100
• National rank: #1037
• State rank: #30 of 153 in CT

Livability — Coventry Lake

• Score: 71/100
• State rank: #92
• US rank: #7117

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 12,267
• Population (ZIP): 12,267

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Common ancestry: Romanian 9% Lithuanian 7% Slovak 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 3% French/Haitian/Cajun 1% 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: ▼ -119.22%
• Current HPI: 258.0578
• 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

3 events — show timeline

• 2026-05-02 Pending — Smart MLS
• 2026-04-23 Contingent — Smart MLS
• 2026-04-13 Listed $189,900 Smart MLS

Property tax history

+0.9%/yr

Latest (2023): $3,383 · +1.9% YoY. Source: county tax records.