2 Pinehurst Ln #2 · East Haddam, CT 06469

$295,000

2 bd · 2.0 ba · 1,236 sqft · Condo · 14 Days on market

Built 2006 Good condition $239/sqft · at area comps Est $301k · at est. $450/mo HOA · 15% of rent

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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 +11.1/30.0
• ARV discount +8.4/15.0
• 1% rule +5.2/10.0
• Schools +5.1/10.0
• Condition / age +4.0/5.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! This stunning 2 Beds, 2 Baths stand alone condo in Banner Estates on Black Birch Golf Course. This unit provides convenience and comfort. Spacious Open Layout. Updated Kitchen with granite and SS appliances. Laundry on main floor. Propane fireplace, central air, private patio. HOA includes grounds maintenance, snow removal, trash removal and of course access to all the amenities. Located only minutes from Gillette Castle and recreational activities, this home is perfect for those seeking a vibrant lifestyle. Don't miss out on this rare opportunity for one-floor living in a prime location! Schedule your tour today and experience the lifestyle you've always wanted!

Key facts

• Community amenities
• One level living
• Finished loft area

Tags

• ONE LEVEL LIVING
• FINISHED LOFT AREA
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• COMMUNITY AMENITIES
• POOL AND TENNIS COURTS

Property features AI

Finance

• Other: Located in Connecticut, Middlesex County; Nearby amenities include tennis courts
• HOA & community: Monthly HOA fee ($450); HOA covers clubhouse, tennis, grounds maintenance, trash pickup, snow removal, property management, pool service, and road maintenance; Pets allowed per HOA guidelines

Exterior

• Parking: Paved off-street assigned parking (2 spaces total)
• Utilities: Public water connected; Shared septic system; Above-ground propane fuel tank
• Home design: Condominium (part of Banner Country Club Estates); End unit; Unit within a multi-unit complex of 41 units
• Construction: Frame construction
• Exterior features: Vinyl siding; Deck; In-ground swimming pool; Level lot

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating (propane fuel); Central air conditioning
• Interior features: Central air conditioning; One fireplace; Crawl space basement (unfinished); Has attic; Total of 5 rooms; Unit spans 2 levels
• Laundry & utility: Propane-heated hot air system; Above-ground fuel tank

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $295k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $278k (5.8% below list).
• Meets the 1% rule at list price ($3k rent vs $295k).
• Recommended offer: $278k (5.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• East Haddam School District (rural): math 47% / reading 65% proficiency, ranked #59 of 153 in CT (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: East Haddam Elementary School (math 57% / reading 57%, grade C+, #177 of 553 statewide, top 34%, 337 students, 27% FRL); Nathan Hale-Ray Middle School (math 46% / reading 67%, grade B, #59 of 175 statewide, top 34%, 378 students, 28% FRL); Nathan Hale-Ray High School (math 42% / reading 67%, grade C-, #63 of 194 statewide, top 39%, 262 students, 22% FRL).
• Market conditions: 14 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $277,827 (5.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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: 1.02% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.72%
• DSCR: 0.92
• GRM: 8.2

CMA / ARV

• ARV (median comp): $300,688
• List price: $295,000
• Delta: -1.89%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.0%
• Equity multiple: 0.33×
• Total profit: $-55,040
• Equity at exit: $43,985

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-56,353
• Equity at exit: $25,506

Cash invested: $82,600 (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 06469

• Home prices YoY: -18.4%
• Active inventory: 14
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $3,000 medium
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• HOA: −$450
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $-119

Break-even live

Break-even rent $3,150

Max offer price $277,827

Occupancy floor 99%

Sensitivity live

Price	-10% $85	-5% $-17	+0% $-119	+5% $-221	+10% $-323
Rent	-10% $-356	-5% $-237	+0% $-119	+5% $0	+10% $118
Rate	-1.0pp $30	-0.5pp $-44	base $-119	+0.5pp $-195	+1.0pp $-273

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
620 Town St Moodus, CT	3.0	2.0	1171	$3,000	$2.56	23d	1	1.41mi

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Likely covers: trashlandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-05-13
   listed $295,000 Active 1409-char remark
2. 2024-11-05
   status Under Contract 688-char remark

   Show marketing remark (688 chars)

   Welcome home! This stunning 2 Beds, 2 Baths stand alone condo in Banner Estates on Black Birch Golf Course. This unit provides convenience and comfort. Spacious Open Layout. Updated Kitchen with granite and SS appliances. Laundry on main floor. Propane fireplace, central air, private patio. HOA includes grounds maintenance, snow removal, trash removal and of course access to all the amenities. Located only minutes from Gillette Castle and recreational activities, this home is perfect for those seeking a vibrant lifestyle. Don't miss out on this rare opportunity for one-floor living in a prime location! Schedule your tour today and experience the lifestyle you've always wanted!

3. 2024-10-29
   soldstatus $295,000 Closed 688-char remark

   Show marketing remark (688 chars)

   Welcome home! This stunning 2 Beds, 2 Baths stand alone condo in Banner Estates on Black Birch Golf Course. This unit provides convenience and comfort. Spacious Open Layout. Updated Kitchen with granite and SS appliances. Laundry on main floor. Propane fireplace, central air, private patio. HOA includes grounds maintenance, snow removal, trash removal and of course access to all the amenities. Located only minutes from Gillette Castle and recreational activities, this home is perfect for those seeking a vibrant lifestyle. Don't miss out on this rare opportunity for one-floor living in a prime location! Schedule your tour today and experience the lifestyle you've always wanted!

4. 2024-10-02
   historical Under Contract - Continue to Show 688-char remark

   Show marketing remark (688 chars)

   Welcome home! This stunning 2 Beds, 2 Baths stand alone condo in Banner Estates on Black Birch Golf Course. This unit provides convenience and comfort. Spacious Open Layout. Updated Kitchen with granite and SS appliances. Laundry on main floor. Propane fireplace, central air, private patio. HOA includes grounds maintenance, snow removal, trash removal and of course access to all the amenities. Located only minutes from Gillette Castle and recreational activities, this home is perfect for those seeking a vibrant lifestyle. Don't miss out on this rare opportunity for one-floor living in a prime location! Schedule your tour today and experience the lifestyle you've always wanted!

5. 2024-09-22
   listed $295,000 Active 688-char remark

   Show marketing remark (688 chars)

   Welcome home! This stunning 2 Beds, 2 Baths stand alone condo in Banner Estates on Black Birch Golf Course. This unit provides convenience and comfort. Spacious Open Layout. Updated Kitchen with granite and SS appliances. Laundry on main floor. Propane fireplace, central air, private patio. HOA includes grounds maintenance, snow removal, trash removal and of course access to all the amenities. Located only minutes from Gillette Castle and recreational activities, this home is perfect for those seeking a vibrant lifestyle. Don't miss out on this rare opportunity for one-floor living in a prime location! Schedule your tour today and experience the lifestyle you've always wanted!

6. 2024-09-19
   historical $295,000 688-char remark

   Show marketing remark (688 chars)

   Welcome home! This stunning 2 Beds, 2 Baths stand alone condo in Banner Estates on Black Birch Golf Course. This unit provides convenience and comfort. Spacious Open Layout. Updated Kitchen with granite and SS appliances. Laundry on main floor. Propane fireplace, central air, private patio. HOA includes grounds maintenance, snow removal, trash removal and of course access to all the amenities. Located only minutes from Gillette Castle and recreational activities, this home is perfect for those seeking a vibrant lifestyle. Don't miss out on this rare opportunity for one-floor living in a prime location! Schedule your tour today and experience the lifestyle you've always wanted!

7. 2021-06-01
   soldstatus $187,500 Closed

   Show marketing remark (853 chars)

   Enjoy single floor living in well sought after Banner Estates on Black Birch Golf Course. Built in 2006- this stand alone unit boasts open floor plan featuring two bedrooms, two baths, an eat in kitchen with cozy living space and laundry on the main floor. The second floor has an oversized loft and storage. The kitchen is updated with stainless steel appliances, granite counter tops, and a formal open dining room. The home has propane gas and central air and a fresh interior coat of paint making it move in ready. Off of the kitchen is a private patio and small yard that is just a short distance to the tennis courts and pool house. The monthly HOA ($350) covers ground maintenance, snow removal, trash removal, road maintenance and access to all of the amenities the association offers. Active status 4/1/21 this home will not last at this price.

8. 2021-04-02
   historical Under Contract - Continue to Show

   Show marketing remark (853 chars)

   Enjoy single floor living in well sought after Banner Estates on Black Birch Golf Course. Built in 2006- this stand alone unit boasts open floor plan featuring two bedrooms, two baths, an eat in kitchen with cozy living space and laundry on the main floor. The second floor has an oversized loft and storage. The kitchen is updated with stainless steel appliances, granite counter tops, and a formal open dining room. The home has propane gas and central air and a fresh interior coat of paint making it move in ready. Off of the kitchen is a private patio and small yard that is just a short distance to the tennis courts and pool house. The monthly HOA ($350) covers ground maintenance, snow removal, trash removal, road maintenance and access to all of the amenities the association offers. Active status 4/1/21 this home will not last at this price.

9. 2021-04-01
   listed $179,900 Active

   Show marketing remark (853 chars)

   Enjoy single floor living in well sought after Banner Estates on Black Birch Golf Course. Built in 2006- this stand alone unit boasts open floor plan featuring two bedrooms, two baths, an eat in kitchen with cozy living space and laundry on the main floor. The second floor has an oversized loft and storage. The kitchen is updated with stainless steel appliances, granite counter tops, and a formal open dining room. The home has propane gas and central air and a fresh interior coat of paint making it move in ready. Off of the kitchen is a private patio and small yard that is just a short distance to the tennis courts and pool house. The monthly HOA ($350) covers ground maintenance, snow removal, trash removal, road maintenance and access to all of the amenities the association offers. Active status 4/1/21 this home will not last at this price.

10. 2021-03-23
    historical $179,900

    Show marketing remark (853 chars)

    Enjoy single floor living in well sought after Banner Estates on Black Birch Golf Course. Built in 2006- this stand alone unit boasts open floor plan featuring two bedrooms, two baths, an eat in kitchen with cozy living space and laundry on the main floor. The second floor has an oversized loft and storage. The kitchen is updated with stainless steel appliances, granite counter tops, and a formal open dining room. The home has propane gas and central air and a fresh interior coat of paint making it move in ready. Off of the kitchen is a private patio and small yard that is just a short distance to the tennis courts and pool house. The monthly HOA ($350) covers ground maintenance, snow removal, trash removal, road maintenance and access to all of the amenities the association offers. Active status 4/1/21 this home will not last at this price.

11. 2020-10-09
    soldstatus $142,000 Closed
12. 2020-07-14
    historical Under Contract - Continue to Show
13. 2020-06-15
    status Active
14. 2020-06-08
    historical
15. 2020-06-08
    status Active
16. 2020-04-06
    historical
17. 2020-03-15
    price $149,800
18. 2020-03-04
    price $155,627
19. 2020-02-21
    listed $162,272 Active
20. 2019-05-01
    historical
21. 2018-11-07
    listed $165,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $36,000
• − Mortgage interest: −$16,525
• − Property taxes: −$4,425
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − HOA: −$5,400
• − Depreciation: −$8,582
• Taxable loss: −$6,166
• Est. tax savings @ 24.0%: +$1,480
• After-tax cash flow: $56/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This move-in ready, one-level living condo is in good condition with a good condition score of 80. It has a good kitchen, bathrooms, and systems, and a good exterior with well-maintained landscaping. The home is ready for a new owner and would benefit from a fresh coat of paint and updated light fixtures.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace old light fixtures — Modernizes the home and improves curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace old light fixtures — Modernizes the home and improves curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: East Haddam School District
• NCES district ID: 0901200
• Math proficiency: 47% ▼ -9.00%
• Reading proficiency: 65% ▼ -6.00%
• Median HH income: $82,341
• Composite: 50.78/100
• National rank: #1809
• State rank: #59 of 153 in CT

Livability — East Haddam

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

Census & demographics

• Census place: Moodus, CT
• Population (ZIP): 3,125

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Lithuanian 12% Romanian 6% Slovak 1%
• Foreign-born: 2%
• Languages at home: 97% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.95%
• Current HPI: 181.4315
• 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

+78.8% since first listed

23 events — show timeline

• 2026-05-27 Pending — Smart MLS
• 2026-05-19 Contingent — Smart MLS
• 2026-05-13 Listed $295,000 Smart MLS
• 2024-11-05 Pending — Smart MLS
• 2024-10-29 Sold (MLS) $295,000 Smart MLS
• 2024-10-02 Contingent — Smart MLS
• 2024-09-22 Listed $295,000 Smart MLS
• 2024-09-19 Coming Soon $295,000 Smart MLS
• 2021-06-01 Sold (MLS) $187,500 Smart MLS
• 2021-04-02 Contingent — Smart MLS
• 2021-04-01 Listed $179,900 Smart MLS
• 2021-03-23 Coming Soon $179,900 Smart MLS
• 2020-10-09 Sold (MLS) $142,000 Smart MLS
• 2020-07-14 Contingent — Smart MLS
• 2020-06-15 Relisted — Smart MLS
• 2020-06-08 Listing Removed — Smart MLS
• 2020-06-08 Relisted — Smart MLS
• 2020-04-06 Listing Removed — Smart MLS
• 2020-03-15 Price Changed $149,800 Smart MLS
• 2020-03-04 Price Changed $155,627 Smart MLS
• 2020-02-21 Listed $162,272 Smart MLS
• 2019-05-01 Listing Removed — Smart MLS
• 2018-11-07 Listed $165,000 Smart MLS