2 York Ct · Poquonock Bridge, CT 06340

$399,000

6 bd · 2.0 ba · 1,924 sqft · MultiFamily public records · 1 Days on market

Built 2002 0.39 ac lot Est $431k · 7% 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 +17.6/30.0
• ARV discount +10.8/15.0
• DSCR +5.5/10.0
• 1% rule +4.6/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 2-4 York Court. This property isn't just a home; it's a financial opportunity! Whether you're looking to occupy one side, or expand your real estate portfolio, this stunning multi-family home is a no-brainer. Each unit has a new kitchen with soft closing cabinets, granite counters & newer appliances. Brand new hot water heaters were installed in January of this year. Say goodbye to the hassle of outdated heating systems, both units are equipped with electric heat; eliminating the need for a boiler or oil tank! The home is connected to city water and city sewer. The service provider for the power & water is Groton Utilities. Enjoy being close to all the area has to off

Key facts

• New kitchen
• Newer appliances
• Granite counters

Tags

• NEW KITCHEN
• SOFT CLOSING CABINETS
• GRANITE COUNTERS
• NEWER APPLIANCES
• NEW HOT WATER HEATERS
• ELECTRIC HEAT

Property features AI

Finance

• Financial info: Assessed value listed

Exterior

• Utilities: Public water connected; Public sewer connected; Sewer usage fee (annual)
• Home design: Multi-family (2-family) property
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Built as a multi-family residence
• Exterior features: Level lot; Vinyl siding

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric baseboard heat
• Interior features: 10 total rooms; Has attic with crawl space and access via hatch; No basement
• Laundry & utility: 40-gallon electric hot water tank

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $382k (4.1% below list).
• Recommended offer: $382k (4.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#88 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, employment F.
• Groton School District (suburban): math 32% / reading 50% proficiency, ranked #96 of 153 in CT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.8%/yr); 92 active listings in the ZIP; solid renter incomes; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• At $3,825/mo this rent would consume 56% of the median local household income ($82k/yr) (locally 1710% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $65k; list at $399k implies a 514% gain — meaningful room to come down on a strong offer.

Recommended offer $382,500 (4.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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 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: 0.96% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.40%
• DSCR: 1.15
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $430,976
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 York Ct	0.00mi	6/2.0	1,924 (0%)	0mo	$400,000	$208	100
31 Lewiston Ct	0.38mi	6/2.0	1,650 (-14%)	8mo	$395,000	$239	52
28 Quincy Ct	0.53mi	6/2.0	1,650 (-14%)	12mo	$370,000	$224	41

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 · 3.75% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.63×
• Total profit: $-41,562
• Equity at exit: $59,492

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $1,986
• Equity at exit: $34,498

Cash invested: $111,720 (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 06340

• Home prices YoY: -27.9%
• Rents YoY: 3.8%
• Active inventory: 92
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $3,825 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$447 /mo · $5,359/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$803
• Net cashflow: $317

Break-even live

Break-even rent $3,424

Max offer price $399,000

Occupancy floor 87%

Sensitivity live

Price	-10% $542	-5% $429	+0% $317	+5% $204	+10% $91
Rent	-10% $14	-5% $165	+0% $317	+5% $468	+10% $619
Rate	-1.0pp $517	-0.5pp $418	base $317	+0.5pp $213	+1.0pp $108

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,826
Total (2 units)			$3,825

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-09
   status Under Contract
2. 2026-05-08
   listed $399,000 Active
3. 1994-03-01
   soldstatus $65,000

ⓘ 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: $5,359 · $447/mo
• Projected year-2 tax: $6,949 · $579/mo
• Expected delta: +$1,590/yr (+$132/mo · 29.7%)

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

Taxation est. · year 1

• Rental income: $45,900
• − Mortgage interest: −$22,350
• − Property taxes: −$5,359
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,672
• − Management: −$3,672
• − Depreciation: −$11,607
• Taxable loss: −$2,755
• Est. tax savings @ 24.0%: +$661
• After-tax cash flow: $4,460/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: Groton School District
• NCES district ID: 0901770
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $60,709
• Composite: 36.28/100
• National rank: #4702
• State rank: #96 of 153 in CT

Livability — Poquonock Bridge

• Score: 71/100
• State rank: #88
• US rank: #6958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poquonock Bridge, CT
• County: New London County · 147,197 people
• Metro: Norwich-New London, CT
• Population (ZIP): 29,863
• Household income: $81,792
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 1710.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 11% Asian 7% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 2% Other Indo-European 2%

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: ▼ -97.61%
• Current HPI: 252.846
• Rent YoY: ▲ 3.75%
• 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

+513.8% since first listed

3 events — show timeline

• 2026-05-09 Pending — Smart MLS
• 2026-05-08 Listed $399,000 Smart MLS
• 1994-03-01 Sold (Public Records) $65,000 Public Records

Property tax history

+4.0%/yr

Latest (2022): $5,359 · +31.3% YoY. Source: county tax records.