136 Tunxis Vlg

Farmington, CT 06032

$3,000D+

2 bd · 2.5 ba · 1,900 sqft · Built 1984 · Condo · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,791/mo
• Mortgage (P&I): −$16
• Tax + insurance: −$71
• HOA: −$605
• Vac / Maint / Mgmt: −$586
• Net cashflow: $1,513/mo
• Annual: $18,154/yr
• Cap rate: 637.99%
• Cash-on-cash: 2256.07%
• DSCR: 101.38
• 1% rule: 93.04%
• Cash to close: $840

Investor read

• This is a 2-bed/2.5-bath condo listed at $3k.
• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $3k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $21 of loan paydown is wiped out by about $90 of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: East Farms School (math 77% / reading 77%, grade A, #28 of 553 statewide, top 7%, 468 students, 11% FRL); Farmington High School (math 55% / reading 78%, grade B, #32 of 194 statewide, top 16%, 1,263 students, 16% FRL).
• Watch-outs: flood insurance adds $66/mo; HOA is 22% of rent.
• Market conditions: Rents flat; 67 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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).
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $840 cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; major wind risk, 27% 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.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.