10 Depot Rd #15 · Storrs, CT 06279

$299,900

2 bd · 2.5 ba · 1,464 sqft · Condo public records · 84 Days on market

Built 1988 $365/mo HOA · 13% of rent ↓ 3% since listing

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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 +11.3/30.0
• ARV discount +7.5/15.0
• 1% rule +4.5/10.0
• Livability +4.1/5.0
• Schools +4.0/10.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

New to the market is this well maintained townhouse in River's Edge Condominiums, cared for by long term owners and offering 3 full levels of comfortable living space with 2-3 bedrooms. Major mechanicals are already taken care of with updated HVAC and central air in 2024. The front entry opens into a bright living room featuring vaulted ceilings with a skylight, laminate flooring, and a cozy corner woodstove insert with heatilator. A slider leads to an elevated deck overlooking the back lawn & tree line. The sunny dining room flows seamlessly into the kitchen, which offers generous countertop space, a breakfast bar, and great functionality for everyday cooking. A short hallway connect

Key facts

• $365 HOA
• Garage
• Built 1988

Property features AI

Finance

• Financial info: Part of a 34-unit community
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee: $365; HOA covers grounds maintenance, trash pickup, snow removal, sewer, road maintenance, and insurance; Association amenities include basketball court and guest parking; Pets allowed per HOA rules

Exterior

• Parking: Attached garage; Driveway; 2 total parking spaces; 1 garage space
• Utilities: Public water connected; Shared septic; Electric hot water; Electric power
• Home design: Condominium in River's Edge complex; 3 levels
• Construction: Frame construction
• Exterior features: Clapboard and Hardie board siding; Deck; Patio; Gutters; Sidewalk; Underground utilities; Lightly wooded setting

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Hot air heating (oil-fired); Fuel tank located in basement; Central air conditioning
• Interior features: Auto garage door opener; Thermopane windows; Fireplace (1)
• Laundry & utility: Washer; Dryer; Laundry on lower level; 50-gallon electric hot water tank

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $300k.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $285k (5.0% below list).
• Recommended offer: $280k (6.5% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 3.8% in Storrs — 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 82/100 on livability (#8 in CT, #1,066 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment F, housing F.
• Willington School District (rural): math 36% / reading 53% proficiency, ranked #90 of 153 in CT (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Center School (math 37% / reading 47%, grade F, #285 of 553 statewide, top 53%, 222 students, 45% FRL); Hall Memorial School (math 37% / reading 57%, grade D+, #87 of 175 statewide, top 50%, 176 students, 39% FRL); E. O. Smith High School (math 51% / reading 70%, grade C+, #44 of 194 statewide, top 22%, 1,073 students, 24% FRL) — zoned schools average 36% FRL vs 14% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 28 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $280,291 (6.5% 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. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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?
9. 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.
10. 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.
11. 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: 0.95% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.59%
• DSCR: 0.93
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.8%
• Equity multiple: 0.34×
• Total profit: $-55,445
• Equity at exit: $44,716

10-year hold

• IRR: -11.1%
• Equity multiple: 0.33×
• Total profit: $-56,485
• Equity at exit: $25,930

Cash invested: $83,972 (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 06279

• Home prices YoY: -4.5%
• Active inventory: 28
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,850 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$300 /mo · $3,598/yr
• Insurance: −$125
• HOA: −$365
• Vacancy / Maint / Mgmt: −$598
• Net cashflow: $-111

Break-even live

Break-even rent $2,991

Max offer price $280,291

Occupancy floor 99%

Sensitivity live

Price	-10% $59	-5% $-26	+0% $-111	+5% $-196	+10% $-281
Rent	-10% $-336	-5% $-224	+0% $-111	+5% $2	+10% $114
Rate	-1.0pp $40	-0.5pp $-35	base $-111	+0.5pp $-189	+1.0pp $-268

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
157 River Rd #2 Willington, CT	3.0	2.0	1522	$2,850	$1.87	20d	1	0.17mi

HOA detail condo

• Monthly dues: $365 · $4,380/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   status $299,900 Under Contract 84 DOM
2. 2026-06-18
   days on market $299,900 Under Contract - Continue to Show 84 DOM
3. 2026-06-17
   days on market $299,900 Under Contract - Continue to Show 83 DOM
4. 2026-06-16
   days on market $299,900 Under Contract - Continue to Show 82 DOM
5. 2026-06-15
   days on market $299,900 Under Contract - Continue to Show 81 DOM
6. 2026-06-13
   days on market $299,900 Under Contract - Continue to Show 79 DOM
7. 2026-06-12
   days on market $299,900 Under Contract - Continue to Show 78 DOM
8. 2026-06-10
   days on market $299,900 Under Contract - Continue to Show 76 DOM
9. 2026-06-09
   days on market $299,900 Under Contract - Continue to Show 75 DOM
10. 2026-06-08
    days on market $299,900 Under Contract - Continue to Show 74 DOM
11. 2026-06-07
    days on market $299,900 Under Contract - Continue to Show 73 DOM
12. 2026-06-05
    days on market $299,900 Under Contract - Continue to Show 71 DOM
13. 2026-06-03
    days on market $299,900 Under Contract - Continue to Show 69 DOM
14. 2026-06-02
    days on market $299,900 Under Contract - Continue to Show 68 DOM
15. 2026-06-01
    days on market $299,900 Under Contract - Continue to Show 67 DOM
16. 2026-05-31
    days on market $299,900 Under Contract - Continue to Show 66 DOM
17. 2026-05-31
    days on market $299,900 Under Contract - Continue to Show 65 DOM
18. 2026-05-20
    historical Under Contract - Continue to Show
19. 2026-04-21
    price $299,900
20. 2026-04-11
    status Active
21. 2026-03-31
    historical Under Contract - Continue to Show
22. 2026-03-26
    listed $309,900 Active

ⓘ 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: $3,598 · $300/mo
• Projected year-2 tax: $5,008 · $417/mo
• Expected delta: +$1,410/yr (+$117/mo · 39.2%)

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

Taxation est. · year 1

• Rental income: $34,200
• − Mortgage interest: −$16,799
• − Property taxes: −$3,598
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,736
• − Management: −$2,736
• − HOA: −$4,380
• − Depreciation: −$8,724
• Taxable loss: −$6,273
• Est. tax savings @ 24.0%: +$1,506
• After-tax cash flow: $174/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: Willington School District
• NCES district ID: 0905100
• Math proficiency: 36% ▼ -20.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $68,267
• Composite: 39.91/100
• National rank: #3851
• State rank: #90 of 153 in CT

Livability — Storrs

• Score: 82/100
• State rank: #8
• US rank: #1066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 17,505
• Population (ZIP): 5,563

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Asian 7% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 11% Romanian 8% Serbian 3%
• Foreign-born: 9% · China, Canada
• Languages at home: 92% English-only · Tagalog/Filipino 2% Spanish 2% Chinese 2%

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: ▼ -12.63%
• Current HPI: 270.5381
• 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

-3.2% since first listed

5 events — show timeline

• 2026-05-20 Contingent — Smart MLS
• 2026-04-21 Price Changed $299,900 Smart MLS
• 2026-04-11 Relisted — Smart MLS
• 2026-03-31 Contingent — Smart MLS
• 2026-03-26 Listed $309,900 Smart MLS

Property tax history

+0.8%/yr

Latest (2023): $3,598 · +2.9% YoY. Source: county tax records.