230 Main St Lot 4A · Wallingford Center, CT 06492

$119,900

2 bd · 1.5 ba · 792 sqft · Manufactured public records · 11 Days on market

Built 1978 $550/mo HOA · 28% 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 +26.0/30.0
• 1% rule +10.0/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELCOME TO HIS CAPTIVATING,CHARMING AND COZY MOBIL HOME IN A DESIRABLE LOCATION THAT YOU WILL LOVE.PERFECTLY MAINTAINED WITH A BEAUTIFUL OPEN FLOOR PLAN.PRICED TO SELL AND WORTH 15 MINUTES OF YOUR TIME TO COME AND SEE IT. ELECTRIC RANGE,REFRIGERATOR,WASHER AND DRYER INCLUDED.WOW! IF YOU DON'T HAVE AN AGENT CONTACT ME FOR A PRIVATE SHOWING [phone].THANK YOU.

Key facts

• Recent renovations
• Built 1978
• Listed 11 days

Tags

• RECENT RENOVATIONS
• LOW MAINTENANCE LIVING

Property features AI

Finance

• Other: Located in a flood zone
• Financial info: Professionally managed (off-site)
• HOA & community: Homeowners association with monthly fee; HOA fee: $550 per month; Association covers trash pickup, snow removal, water, sewer, property management, and road maintenance

Exterior

• Utilities: Public water connected; Public sewer connected; Hot water: other; Above-ground fuel tank
• Home design: Single-family home; On leased land
• Construction: Prefab construction; Shingle roof; Blue exterior color; No foundation specified
• Exterior features: Level lot; Vinyl siding

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Hot air heating; Propane fuel for heating
• Interior features: Central air conditioning; No basement
• Laundry & utility: Laundry located in kitchen closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 9.3% vs local median 3.4% in Wallingford Center — 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 80/100 on livability (#24 in CT, #1,716 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, amenities A; Watch: commute F.
• Wallingford School District (suburban): math 34% / reading 49% proficiency, ranked #94 of 153 in CT (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 111 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $28k; list at $120k implies a 321% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1978 — 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: 1.66% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.68%
• DSCR: 1.47
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-104
• Equity at exit: $17,877

10-year hold

• IRR: 9.8%
• Equity multiple: 1.76×
• Total profit: $25,638
• Equity at exit: $10,367

Cash invested: $33,572 (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 06492

• Active inventory: 111
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,991 high
• Mortgage (P&I): −$629
• Tax from tax record: −$46 /mo · $546/yr
• Insurance: −$50
• HOA: −$550
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $299

Break-even live

Break-even rent $1,613

Max offer price $119,900

Occupancy floor 80%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 N Ridgeland Rd Unit 134 Wallingford, CT	2.0	1.0	792	$2,500	$3.16	23d	1	0.30mi
151-154 Ridgeland Rd Wallingford, CT	2.0	1.0	1100	$1,770	$1.61	23d	1	0.31mi
151 N Ridgeland Rd Wallingford, CT	2.0	1.0	1100	$1,770	$1.61	23d	1	0.31mi
90 N Turnpike Rd Unit 1 Wallingford, CT	2.0	1.0	1000	$2,200	$2.20	3d	1	0.42mi
90 N Turnpike Rd Unit 3 Wallingford, CT	2.0	1.0	800	$1,700	$2.12	3d	1	0.42mi
75 Evergreene Rd #75 Wallingford, CT	2.0	1.0	676	$1,700	$2.51	23d	1	0.42mi
181 Knollwood Dr Wallingford, CT	2.0	1.0	697	$2,359	$3.38	2d	14	0.43mi
45 High St Unit B Wallingford, CT	1.0	1.0	676	$1,800	$2.66	11d	1	1.26mi
1005 N Main Street Ext Wallingford, CT	2.0	1.0	840	$1,950	$2.32	43d	1	1.42mi
990 Yale Ave Wallingford, CT	2.0	1.0	840	$1,950	$2.32	43d	1	1.42mi

HOA detail

• Monthly dues: $550 · $6,600/yr
• Likely covers: electric

Listing history 5 events

1. 2026-05-01
   status Under Contract
2. 2026-04-20
   listed $119,900 Active
3. 2018-03-05
   soldstatus $28,500 Closed 365-char remark

   Show marketing remark (365 chars)

   WELCOME TO HIS CAPTIVATING,CHARMING AND COZY MOBIL HOME IN A DESIRABLE LOCATION THAT YOU WILL LOVE.PERFECTLY MAINTAINED WITH A BEAUTIFUL OPEN FLOOR PLAN.PRICED TO SELL AND WORTH 15 MINUTES OF YOUR TIME TO COME AND SEE IT. ELECTRIC RANGE,REFRIGERATOR,WASHER AND DRYER INCLUDED.WOW! IF YOU DON'T HAVE AN AGENT CONTACT ME FOR A PRIVATE SHOWING [phone].THANK YOU.

4. 2018-01-30
   status Under Contract 365-char remark

   Show marketing remark (365 chars)

   WELCOME TO HIS CAPTIVATING,CHARMING AND COZY MOBIL HOME IN A DESIRABLE LOCATION THAT YOU WILL LOVE.PERFECTLY MAINTAINED WITH A BEAUTIFUL OPEN FLOOR PLAN.PRICED TO SELL AND WORTH 15 MINUTES OF YOUR TIME TO COME AND SEE IT. ELECTRIC RANGE,REFRIGERATOR,WASHER AND DRYER INCLUDED.WOW! IF YOU DON'T HAVE AN AGENT CONTACT ME FOR A PRIVATE SHOWING [phone].THANK YOU.

5. 2018-01-25
   listed $26,900 Active 365-char remark

   Show marketing remark (365 chars)

   WELCOME TO HIS CAPTIVATING,CHARMING AND COZY MOBIL HOME IN A DESIRABLE LOCATION THAT YOU WILL LOVE.PERFECTLY MAINTAINED WITH A BEAUTIFUL OPEN FLOOR PLAN.PRICED TO SELL AND WORTH 15 MINUTES OF YOUR TIME TO COME AND SEE IT. ELECTRIC RANGE,REFRIGERATOR,WASHER AND DRYER INCLUDED.WOW! IF YOU DON'T HAVE AN AGENT CONTACT ME FOR A PRIVATE SHOWING [phone].THANK YOU.

ⓘ 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: $546 · $46/mo
• Projected year-2 tax: $1,556 · $130/mo
• Expected delta: +$1,010/yr (+$84/mo · 185.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,892
• − Mortgage interest: −$6,716
• − Property taxes: −$546
• − Insurance: −$600
• − Repairs & maintenance: −$1,911
• − Management: −$1,911
• − HOA: −$6,600
• − Depreciation: −$3,488
• Taxable income: $2,119
• Est. tax owed @ 24.0%: −$509
• After-tax cash flow: $3,075/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: Wallingford School District
• NCES district ID: 0904740
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $73,423
• Composite: 37.92/100
• National rank: #4310
• State rank: #94 of 153 in CT

Livability — Wallingford Center

• Score: 80/100
• State rank: #24
• US rank: #1716

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: New Haven County · 688,236 people
• Metro: New Haven-Milford, CT
• Population (ZIP): 44,498
• Household income: $105,061
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 959.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 11% Two or more races 6% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3%
• Common ancestry: Romanian 11% Lithuanian 5% Russian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 4% Russian/Polish/Slavic 1%

Political lean MEDSL · South Central Connecticut

• 2024 margin: Strong D (+20.1) · D 59.0% · R 38.9% · Other 2.1%
• All cycles: 2024: D+20.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -259.08%
• Current HPI: 248.4652
• Rent YoY: —
• Metro: New Haven-Milford, 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

+345.7% since first listed

5 events — show timeline

• 2026-05-01 Pending — Smart MLS
• 2026-04-20 Listed $119,900 Smart MLS
• 2018-03-05 Sold (MLS) $28,500 Smart MLS
• 2018-01-30 Pending — Smart MLS
• 2018-01-25 Listed $26,900 Smart MLS

Property tax history

+0.4%/yr

Latest (2023): $546 · +1.1% YoY. Source: county tax records.