Real Estate Investing in Groton, Connecticut (06340)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 06340 (Groton, CT)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.0% vacancy may signal weakening demand.
What’s happening in Groton, CT (06340)?
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Market Analysis: 06340 Groton
The 06340 ZIP in Groton, CT is a local-operator market. Outside capital chasing a $390K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 06340 sits at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
In the broader CT picture, 06340 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 06340 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 06340 is an operator game, not a passive one. Put differently, entry prices of $390K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Groton:
Property Strategy for 06340
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $195,926 | $1,590 | 5.8% | +12.3% | $195,926 |
| 2BR | $272,384 | $1,980 | 5.2% | +10.8% | $136,192 |
| 3BR | $386,584 | $2,550 | 4.7% | +9.1% | $128,861 |
| 4BR | $577,523 | $3,170 | 4.0% | +10.5% | $144,381 |
| 5BR | $1,063,354 | — | — | +12.0% | $212,671 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 06340 Compare?
| Metric | 06340 | Groton | Norwich-New London, CT | Connecticut |
|---|---|---|---|---|
| Home Value | $389,963 | $497,500 | N/A | $425,784 |
| 5-Year CAGR | 7.3% | 8.0% | N/A | 9.3% |
| Avg Rent | $2,171 | $2,414 | N/A | - |
| Cap Rate | 4.3% | 3.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 06340 (Groton, CT). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $389,963 |
| Monthly Rent | $2,171 |
| Price-to-Rent | 15.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.3% |
| 5-Year IRR | 11.6% |
📈 Home Appreciation
| 1-Year | +8.1% ▲ |
| 3-Year CAGR | +6.9% ▲ |
| 5-Year CAGR | +7.3% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 Rent Trends
| 1-Year | +20.1% ▲ |
| 3-Year CAGR | +11.3% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 06340
Population: 29,833
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 06340
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Where do home prices stand in Groton, CT?
Groton, CT median home values land near $390K. That is reasonable territory for investors looking at $2,171/mo-per-month rentals.
How deep is the rental pool in Groton, CT?
Expect a solid tenant pool in Groton, CT. The rental market absorbs $2,171/mo rents without meaningful friction.
Is Groton, CT a friendly market for rental owners?
Groton, CT falls under CT landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
Is house hacking profitable in Groton, CT?
House hacking works a challenging in Groton, CT. Rents of $2,171/mo against $390K acquisition make the strategy solid for owner-occupants.
Is Groton, CT a good place for real estate investing?
Groton, CT clocks in at an investability rating of 3.0/5, with median home values near $390K and average rents around $2,171/mo. That combination puts it in the substantial tier for investor interest.
You know 06340 now. You don’t know where it ranks.
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How 06340 ranks in Norwich-New London, CT
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