129 Walnut St · Windham, CT 06226

$219,000

3 bd · 1.0 ba · 1,078 sqft · SingleFamily public records · 97 Days on market

Built 1915 2,178 sqft lot $203/sqft · 15% below area Est $259k · 15% under

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Why this score? — see what drove the D+ 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 +15.4/30.0
• ARV discount +14.5/15.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Antique Colonial - Prime Windham Location Step back in time and experience the warmth and character of this classic 1915 Antique Colonial, beautifully situated on a desirable corner lot in Windham. This inviting home offers four spacious bedrooms and one full bath, along with a generously sized living room perfect for relaxing or entertaining. The bright eat-in kitchen provides a welcoming space for gatherings and everyday living. Enjoy peaceful mornings or cozy seasonal evenings in the sun-filled three-season room, complete with stairs leading directly out to the backyard. The property is surrounded by a charming white picket fence, enhancing its timeless New England appeal. A standout feature is the impressive two-story garage with access from two streets, offering exceptional convenience, storage, or potential workshop space. The full walk-out lower level adds additional functionality and flexibility. Ideally located close to local colleges, this property presents an excellent opportunity for investors, owner-occupants, or those seeking rental potential. Enjoy nearby delicious eateries, unique shops, and easy commuting access to surrounding towns and major routes. This is a truly charming and classic New England home that must be seen to be fully appreciated.

Key facts

• Two-story garage
• Three-season room
• White picket fence

Tags

• THREE-SEASON ROOM
• WHITE PICKET FENCE
• TWO-STORY GARAGE
• FULL WALK-OUT LOWER LEVEL
• CLOSE TO LOCAL COLLEGES
• NEARBY DELICIOUS EATERIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $83 ($993/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 $202k (7.9% below list).
• Recommended offer: $199k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Windham School District (town): math 15% / reading 25% proficiency, ranked #143 of 153 in CT (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 39 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• At $2,016/mo this rent would consume 51% of the median local household income ($47k/yr) (locally 1122% 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 $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 26y ago; this cycle's ask has dropped $18k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• GRM: 9.1

CMA / ARV

• ARV (median comp): $259,094
• List price: $219,000
• Delta: -15.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Schoolhouse Ln	0.25mi	3/1.0	1,092 (+1%)	2mo	$220,000	$201	85
285 Jackson St	0.55mi	3/1.0	1,080 (+0%)	10mo	$270,000	$250	66
35 Peru St	0.61mi	3/1.0	1,040 (-4%)	7mo	$262,000	$252	60
15 Chapman St	0.57mi	3/2.5	1,040 (-4%)	5mo	$250,000	$240	58
497 Pleasant St	0.64mi	3/1.0	1,088 (+1%)	15mo	$239,000	$220	56
285 Church St	0.34mi	2/1.0 (-1)	1,032 (-4%)	20mo	$240,000	$233	55
65 Hewitt St	0.45mi	3/1.5	1,170 (+8%)	9mo	$271,000	$232	55
294 North St	0.36mi	2/1.0 (-1)	1,200 (+11%)	13mo	$320,000	$267	49
4 Gifford Ave	0.66mi	3/2.0	1,036 (-4%)	13mo	$219,900	$212	48
7 Ardman Dr	0.73mi	4/1.0 (+1)	1,158 (+7%)	2mo	$230,000	$199	47
446 High St	0.67mi	4/1.0 (+1)	1,134 (+5%)	12mo	$295,000	$260	45
170 S Park St	0.65mi	3/2.0	1,184 (+10%)	20mo	$145,000	$122	32

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: -13.7%
• Equity multiple: 0.51×
• Total profit: $-30,187
• Equity at exit: $32,654

10-year hold

• IRR: -4.8%
• Equity multiple: 0.68×
• Total profit: $-19,382
• Equity at exit: $18,935

Cash invested: $61,320 (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 06226

• Home prices YoY: -9.3%
• Active inventory: 39
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,016 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$270 /mo · $3,244/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $83

Break-even live

Break-even rent $1,911

Max offer price $219,000

Occupancy floor 91%

Sensitivity live

Price	-10% $207	-5% $145	+0% $83	+5% $21	+10% $-41
Rent	-10% $-77	-5% $3	+0% $83	+5% $162	+10% $242
Rate	-1.0pp $193	-0.5pp $138	base $83	+0.5pp $26	+1.0pp $-32

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 Valley St Willimantic, CT	3.0	1.0	1400	$1,800	$1.29	15d	1	0.35mi
248 Ivan Hill St Willimantic, CT	4.0	1.0	1232	$2,800	$2.27	20d	1	0.47mi
3 Milk St Unit 2A Willimantic, CT	2.0	1.0	975	$1,150	$1.18	15d	1	0.52mi
173 Mansfield Ave Willimantic, CT	4.0	1.0	1200	$2,300	$1.92	15d	1	0.52mi
7 W Park St Willimantic, CT	2.0	1.0	790	$1,375	$1.74	15d	1	0.61mi
84 Ash St Willimantic, CT	2.0	1.0	900	$1,600	$1.78	2d	1	0.72mi
1 Ardman Dr Willimantic, CT	4.0	1.0	1134	$2,300	$2.03	44d	1	0.74mi
49 Brook St Apt 3 Willimantic, CT	2.0	1.0	1200	$1,450	$1.21	15d	1	0.74mi
53 Lynwood Dr Willimantic, CT	4.0	1.0	1134	$2,200	$1.94	44d	1	0.78mi
466 Ash St Willimantic, CT	2.0	1.5	900	$1,300	$1.44	2d	1	0.79mi
145 Foster Dr Willimantic, CT	2.0	1.0–1.5	687	$1,830	$2.66	2d	1	0.93mi
15 Patriots Sq Mansfield Center, CT	2.0	1.5	1276	$2,600	$2.04	15d	1	1.42mi

Listing history 50 events

1. 2026-06-18
   days on market $219,000 Active 97 DOM
2. 2026-06-17
   days on market $219,000 Active 96 DOM
3. 2026-06-16
   days on market $219,000 Active 95 DOM
4. 2026-06-15
   days on market $219,000 Active 94 DOM
5. 2026-06-14
   days on market $219,000 Active 92 DOM
6. 2026-06-10
   days on market $219,000 Active 89 DOM
7. 2026-06-09
   days on market $219,000 Active 88 DOM
8. 2026-06-08
   days on market $219,000 Active 87 DOM
9. 2026-06-07
   days on market $219,000 Active 86 DOM
10. 2026-06-05
    days on market $219,000 Active 83 DOM
11. 2026-06-03
    days on market $219,000 Active 82 DOM
12. 2026-06-03
    price $219,000 Active 81 DOM
13. 2026-06-02
    days on market $225,000 Active 81 DOM
14. 2026-06-01
    days on market $225,000 Active 80 DOM
15. 2026-05-31
    days on market $225,000 Active 79 DOM
16. 2026-05-31
    days on market $225,000 Active 78 DOM
17. 2026-04-18
    price $229,000 1291-char remark

    Show marketing remark (1291 chars)

    Charming Antique Colonial - Prime Windham Location Step back in time and experience the warmth and character of this classic 1915 Antique Colonial, beautifully situated on a desirable corner lot in Windham. This inviting home offers four spacious bedrooms and one full bath, along with a generously sized living room perfect for relaxing or entertaining. The bright eat-in kitchen provides a welcoming space for gatherings and everyday living. Enjoy peaceful mornings or cozy seasonal evenings in the sun-filled three-season room, complete with stairs leading directly out to the backyard. The property is surrounded by a charming white picket fence, enhancing its timeless New England appeal. A standout feature is the impressive two-story garage with access from two streets, offering exceptional convenience, storage, or potential workshop space. The full walk-out lower level adds additional functionality and flexibility. Ideally located close to local colleges, this property presents an excellent opportunity for investors, owner-occupants, or those seeking rental potential. Enjoy nearby delicious eateries, unique shops, and easy commuting access to surrounding towns and major routes. This is a truly charming and classic New England home that must be seen to be fully appreciated.

18. 2026-03-12
    listed $237,500 Active 1291-char remark

    Show marketing remark (1291 chars)

    Charming Antique Colonial - Prime Windham Location Step back in time and experience the warmth and character of this classic 1915 Antique Colonial, beautifully situated on a desirable corner lot in Windham. This inviting home offers four spacious bedrooms and one full bath, along with a generously sized living room perfect for relaxing or entertaining. The bright eat-in kitchen provides a welcoming space for gatherings and everyday living. Enjoy peaceful mornings or cozy seasonal evenings in the sun-filled three-season room, complete with stairs leading directly out to the backyard. The property is surrounded by a charming white picket fence, enhancing its timeless New England appeal. A standout feature is the impressive two-story garage with access from two streets, offering exceptional convenience, storage, or potential workshop space. The full walk-out lower level adds additional functionality and flexibility. Ideally located close to local colleges, this property presents an excellent opportunity for investors, owner-occupants, or those seeking rental potential. Enjoy nearby delicious eateries, unique shops, and easy commuting access to surrounding towns and major routes. This is a truly charming and classic New England home that must be seen to be fully appreciated.

19. 2025-09-25
    historical
20. 2025-08-23
    price $228,500
21. 2025-08-05
    price $229,000
22. 2025-08-03
    price $234,500
23. 2025-08-02
    price $235,000
24. 2025-07-26
    price $239,000
25. 2025-07-22
    listed $239,500 Active
26. 2025-07-10
    historical
27. 2025-06-09
    price $245,000
28. 2025-05-13
    price $249,000
29. 2025-04-30
    listed $259,000 Active
30. 2024-08-21
    soldstatus $215,000 Closed
31. 2024-08-12
    status Under Contract
32. 2024-07-18
    historical Under Contract - Continue to Show
33. 2024-07-09
    listed $199,129 Active
34. 2022-02-02
    historical
35. 2022-01-24
    listed $135,000 Active
36. 2022-01-12
    historical
37. 2021-12-03
    price $135,000
38. 2021-11-15
    listed $139,900 Active
39. 2011-01-13
    historical
40. 2010-12-09
    listed $99,000
41. 2006-12-31
    historical
42. 2006-11-01
    soldstatus $104,000
43. 2006-06-05
    listed $117,990
44. 2006-06-04
    historical
45. 2005-12-13
    listed $139,900
46. 2004-03-02
    soldstatus $101,900
47. 2004-03-02
    soldstatus $101,900
48. 2004-01-14
    listed $101,900
49. 2004-01-14
    listed $101,900
50. 2001-10-01
    soldstatus $79,890

ⓘ 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: $3,244 · $270/mo
• Projected year-2 tax: $3,965 · $330/mo
• Expected delta: +$721/yr (+$60/mo · 22.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $24,195
• − Mortgage interest: −$12,267
• − Property taxes: −$3,244
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − Depreciation: −$6,371
• Taxable loss: −$2,654
• Est. tax savings @ 24.0%: +$637
• After-tax cash flow: $1,630/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: Windham School District
• NCES district ID: 0905190
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $40,956
• Composite: 17.01/100
• National rank: #9128
• State rank: #143 of 153 in CT

Livability — Windham

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Willimantic, CT
• County: Windham County · 30,529 people
• Metro: Worcester, MA-CT
• Population (ZIP): 19,344
• Household income: $47,162
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 1122.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 45% White 44% Two or more races 20% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 30% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Slovak 1%
• Foreign-born: 9% · Canada, Guatemala, China
• Languages at home: 62% English-only · Spanish 33% Other Indo-European 2% French/Haitian/Cajun 1%

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: ▼ -31.01%
• Current HPI: 301.9706
• Rent YoY: —
• Metro: Worcester, MA-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

+472.5% since first listed

42 events — show timeline

• 2026-04-18 Price Changed $229,000 Smart MLS
• 2026-03-12 Listed $237,500 Smart MLS
• 2025-09-25 Listing Removed — Smart MLS
• 2025-08-23 Price Changed $228,500 Smart MLS
• 2025-08-05 Price Changed $229,000 Smart MLS
• 2025-08-03 Price Changed $234,500 Smart MLS
• 2025-08-02 Price Changed $235,000 Smart MLS
• 2025-07-26 Price Changed $239,000 Smart MLS
• 2025-07-22 Listed $239,500 Smart MLS
• 2025-07-10 Listing Removed — Smart MLS
• 2025-06-09 Price Changed $245,000 Smart MLS
• 2025-05-13 Price Changed $249,000 Smart MLS
• 2025-04-30 Listed $259,000 Smart MLS
• 2024-08-21 Sold (MLS) $215,000 Smart MLS
• 2024-08-12 Pending — Smart MLS
• 2024-07-18 Contingent — Smart MLS
• 2024-07-09 Listed $199,129 Smart MLS
• 2022-02-02 Listing Removed — Smart MLS
• 2022-01-24 Listed $135,000 Smart MLS
• 2022-01-12 Listing Removed — Smart MLS
• 2021-12-03 Price Changed $135,000 Smart MLS
• 2021-11-15 Listed $139,900 Smart MLS
• 2011-01-13 Listing Removed — Smart MLS
• 2010-12-09 Listed $99,000 Smart MLS
• 2006-12-31 Listing Removed — Smart MLS
• 2006-11-01 Sold (Public Records) $104,000 Public Records
• 2006-06-05 Listed $117,990 Smart MLS
• 2006-06-04 Listing Removed — Smart MLS
• 2005-12-13 Listed $139,900 Smart MLS
• 2004-03-02 Sold (MLS) $101,900 Smart MLS
• 2004-03-02 Sold (MLS) $101,900 Smart MLS
• 2004-01-14 Listed $101,900 Smart MLS
• 2004-01-14 Listed $101,900 Smart MLS
• 2001-10-01 Sold (Public Records) $79,890 Public Records
• 2001-09-28 Sold (MLS) $79,890 Smart MLS
• 2001-08-10 Listed $79,890 Smart MLS
• 2000-11-24 Listing Removed — Smart MLS
• 2000-10-30 Listed $79,890 Smart MLS
• 1998-05-29 Sold (Public Records) $63,000 Public Records
• 1998-05-29 Sold (Public Records) $63,000 Public Records
• 1997-01-16 Sold (Public Records) $62,000 Public Records
• 1997-01-02 Sold (Public Records) $40,000 Public Records

Property tax history

+0.1%/yr

Latest (2023): $3,244 · +1.5% YoY. Source: county tax records.