111 Songbird Ln #111 · Bristol, CT 06032

$275,000

2 bd · 1.5 ba · 1,020 sqft · Condo · 5 Days on market

Built 1983 Fair condition $292/mo HOA · 11% 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 +11.0/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• DSCR +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 111 Songbird Lane, an end-unit ranch-style condo located in a desirable Farmington Edge location. Offering 1,034 square feet of comfortable single-level living, this home features an open floor plan. The spacious living room flows seamlessly into the dining area and clean, functional kitchen. Two good-sized bedrooms, including a primary bedroom with its own private half bath. An updated full bathroom with a walk-in shower, separate laundry room, and attached one-car garage with utility and extra storage space. Recent improvements include a brand-new heat pump/central air, a wireless thermostat, stainless steel appliances, and a brand-new stove. The thoughtfully designed layout of

Key facts

• Open floor plan
• Private half bath
• Walk-in shower

Tags

• END-UNIT RANCH-STYLE CONDO
• OPEN FLOOR PLAN
• PRIVATE HALF BATH
• UPDATED FULL BATHROOM
• WALK-IN SHOWER
• SEPARATE LAUNDRY ROOM

Property features AI

Finance

• Other: Property managed professionally off-site; Pets allowed with restrictions
• HOA & community: Homeowners association with monthly fee; HOA fee includes grounds maintenance, trash pickup, snow removal, property management, and road maintenance; HOA fee: $292/month

Exterior

• Parking: Attached garage; Assigned parking; Parking lot; 3 total parking spaces; 1 garage
• Utilities: Public water connected; Public sewer connected; Electric service
• Home design: Condominium; Condo/Co-Op for sale; End unit
• Construction: Frame construction; Part of Farmington Edge complex
• Exterior features: Wood siding; Lightly wooded, level lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Heat pump; Electric hot water
• Interior features: Central air; Has attic with pull-down stairs; Laundry room
• Laundry & utility: Washer; Electric dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $275k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (4.4% below list).
• Recommended offer: $258k (6.0% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 3.3% in Bristol — 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 81/100 on livability (#21 in CT, #1,585 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: commute F.
• Farmington School District (suburban): math 65% / reading 77% proficiency, ranked #18 of 153 in CT (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Noah Wallace School (math 77% / reading 77%, grade A, #28 of 553 statewide, top 7%, 318 students, 21% FRL); West Woods Upper Elementary School (math 64% / reading 77%, grade A, #13 of 175 statewide, top 8%, 641 students, 17% FRL); Farmington High School (math 55% / reading 78%, grade B, #32 of 194 statewide, top 16%, 1,263 students, 16% FRL).
• Market conditions: Rents flat; 67 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 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 $8k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $258,371 (6.0% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 5.79%
• Cash-on-cash: -1.79%
• DSCR: 0.92
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.72% rent growth · sell at horizon

5-year hold

• IRR: -22.2%
• Equity multiple: 0.25×
• Total profit: $-57,561
• Equity at exit: $41,003

10-year hold

• IRR: -24.3%
• Equity multiple: -0.06×
• Total profit: $-81,782
• Equity at exit: $23,777

Cash invested: $77,000 (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 06032

• Rents YoY: 0.7%
• Active inventory: 67
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,630 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$292
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $-115

Break-even live

Break-even rent $2,775

Max offer price $258,371

Occupancy floor 99%

Sensitivity live

Price	-10% $75	-5% $-20	+0% $-115	+5% $-210	+10% $-305
Rent	-10% $-323	-5% $-219	+0% $-115	+5% $-11	+10% $93
Rate	-1.0pp $24	-0.5pp $-45	base $-115	+0.5pp $-186	+1.0pp $-259

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
139 Songbird Ln Unit 139 Farmington, CT	2.0	2.5	1224	$2,800	$2.29	3d	1	0.09mi
32 Farmington Chase Cres #32 Farmington, CT	2.0	1.5	1317	$2,800	$2.13	3d	1	0.16mi
32 Farmington Chase Cres #32 Farmington, CT	2.0	1.5	1317	$2,800	$2.13	45d	1	0.16mi
101 Farmington Chase Cres #101 Farmington, CT	2.0	1.5	1317	$2,600	$1.97	3d	1	0.36mi
5 Spring Ln Farmington, CT	2.0	1.0–2.0	772	$2,745	$3.55	3d	10	0.67mi
115 Beths Ave #3 Bristol, CT	2.0	1.5	1232	$1,850	$1.50	25d	1	1.03mi
1175 Farmington Ave Bristol, CT	2.0	1.0–1.5	875	$2,039	$2.33	3d	12	1.04mi
43 Hiltbrand Rd Unit 2-9 Bristol, CT	2.0	1.5	990	$1,875	$1.89	5d	1	1.06mi

HOA detail condo

• Monthly dues: $292 · $3,504/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-13
   status $275,000 Under Contract 5 DOM
2. 2026-06-10
   days on market $275,000 Active 5 DOM
3. 2026-06-09
   days on market $275,000 Active 4 DOM
4. 2026-06-08
   days on market $275,000 Active 3 DOM
5. 2026-06-07
   remarks 699-char remark
6. 2026-06-07
   listed $275,000 Active 2 DOM

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

Taxation est. · year 1

• Rental income: $31,558
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,525
• − Management: −$2,525
• − HOA: −$3,504
• − Depreciation: −$8,000
• Taxable loss: −$5,900
• Est. tax savings @ 24.0%: +$1,416
• After-tax cash flow: $37/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 · 14 photos

Fair 45/100 Moderate rehab

The home requires moderate repairs and maintenance, including a new roof, updated flooring, and painted walls, to improve its condition and increase its value.

Repairs flagged

• Major roof — The roof appears to have visible signs of wear and potential damage, which would require a major repair or replacement.
• Moderate exterior siding — The siding shows some discoloration and potential wear, indicating a need for maintenance or replacement.
• Minor flooring — The carpeted flooring looks worn and could benefit from cleaning or replacement, but the damage is not severe.
• Minor interior walls — The paint on the interior walls appears faded, which could be addressed with a fresh coat of paint.
• Minor bathrooms — The bathrooms could benefit from new fixtures and a fresh paint job, which would improve their appearance and functionality.
• Minor landscaping — The landscaping around the property could be improved with new plants and a fresh mulch layer, which would enhance the curb appeal.

Value-add opportunities

• Resale Replace the roof — A new roof would significantly improve the home's curb appeal and increase its resale value.
• Rental Replace the carpeted flooring — New flooring would make the home more appealing to renters and improve its rental value.
• Both Paint the interior walls — A fresh coat of paint would improve the home's appearance and increase both its resale and rental value.
• Both Update the bathrooms with new fixtures — New fixtures would make the bathrooms more functional and appealing, increasing both its resale and rental value.
• Resale Maintain the exterior siding — Maintaining the exterior siding would improve the home's curb appeal and increase its resale value.
• Both Improve the landscaping — New plants and a fresh mulch layer would enhance the curb appeal and increase both its resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to have visible signs of wear and potential damage, which would require a major repair or replacement.	Major	$15,000–50,000
exterior siding · The siding shows some discoloration and potential wear, indicating a need for maintenance or replacement.	Moderate	$3,000–15,000
flooring · The carpeted flooring looks worn and could benefit from cleaning or replacement, but the damage is not severe.	Minor	$500–3,000
interior walls · The paint on the interior walls appears faded, which could be addressed with a fresh coat of paint.	Minor	$500–3,000
bathrooms · The bathrooms could benefit from new fixtures and a fresh paint job, which would improve their appearance and functionality.	Minor	$500–3,000
landscaping · The landscaping around the property could be improved with new plants and a fresh mulch layer, which would enhance the curb appeal.	Minor	$500–3,000
Total estimated repair cost · 6 items		$20,000–77,000

Value-add ROI direction

• Resale Replace the roof — A new roof would significantly improve the home's curb appeal and increase its resale value. ↑
• Rental Replace the carpeted flooring — New flooring would make the home more appealing to renters and improve its rental value. ↑
• Both Paint the interior walls — A fresh coat of paint would improve the home's appearance and increase both its resale and rental value. ↑
• Both Update the bathrooms with new fixtures — New fixtures would make the bathrooms more functional and appealing, increasing both its resale and rental value. ↑
• Resale Maintain the exterior siding — Maintaining the exterior siding would improve the home's curb appeal and increase its resale value. ↑
• Both Improve the landscaping — New plants and a fresh mulch layer would enhance the curb appeal and increase both its resale and rental value. ↑

ⓘ 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: Farmington School District
• NCES district ID: 0901560
• Math proficiency: 65% ▼ -8.00%
• Reading proficiency: 77% ▼ -5.00%
• Median HH income: $87,791
• Composite: 63.76/100
• National rank: #598
• State rank: #18 of 153 in CT

Livability — Bristol

• Score: 81/100
• State rank: #21
• US rank: #1585

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hartford County · 754,208 people
• City population: 61,684
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 19,135
• Household income: $140,912
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 533.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Asian 16% Hispanic / Latino 7% Two or more races 5% Black 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 10% Lithuanian 4% Slovak 3%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 77% English-only · Other Indo-European 4% Chinese 4% Spanish 4%

Political lean MEDSL · Capitol

• 2024 margin: Strong D (+21.9) · D 60.1% · R 38.2% · Other 1.7%
• All cycles: 2024: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -145.88%
• Current HPI: 178.158
• Rent YoY: ▲ 0.72%
• Metro: Hartford-East Hartford-Middletown, 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

1 event — show timeline

• 2026-06-04 Listed $275,000 Smart MLS