21 Lownds Dr · Windsor Locks, CT 06096

$440,000

6 bd · 2.0 ba · 2,280 sqft · MultiFamily · 12 Days on market

Built 1968 Average condition 0.36 ac lot $193/sqft · 14% above area Est $387k · 14% over ↓ 5% 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 +21.4/30.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• ARV discount +1.4/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Well-maintained 2-family featuring spacious 3 bed, 1 bath units-ideal for investors or owner-occupants. Each unit offers functional layouts with separate laundry, along with an updated kitchen & bathroom in the second-floor unit. Situated on a desirable corner lot in a quiet cul-de-sac, the property also features a large backyard with plenty of usable space. Conveniently located just minutes from major highways, shopping, and Bradley International Airport. Strong rental potential in a high-demand area-schedule your showing before it's gone. Agent is related to the seller

Key facts

• Separate laundry
• Quiet cul-de-sac
• Large backyard

Tags

• CORNER LOT
• LARGE BACKYARD
• UPDATED KITCHEN
• UPDATED BATHROOM
• SEPARATE LAUNDRY
• QUIET CUL-DE-SAC

Property features AI

Exterior

• Parking: On-street parking; Driveway parking; 4 total parking spaces
• Utilities: Public water connected; Public sewer connected; 40-gallon hot water tank
• Home design: Multi-family (2-family) property
• Construction: Concrete foundation; Concrete construction; Vinyl siding; Asphalt shingle roof
• Exterior features: Located on a cul-de-sac; Paved driveway

Interior

• Bedrooms: 6 bedrooms total
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas fuel; Window air conditioning units
• Interior features: Full basement; Attic with hatch access; Total of 10 rooms; Two separate laundry rooms
• Laundry & utility: Basement washer/dryer hookups; Two separate laundry rooms

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $440k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive. Per door: $326/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $440k).
• Cap rate 8.1% vs local median 3.9% in Windsor Locks — 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 74/100 on livability (#65 in CT, #4,599 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Windsor Locks School District (suburban): math 34% / reading 45% proficiency, ranked #102 of 153 in CT (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Elementary School (math 37% / reading 40%, grade F, #312 of 553 statewide, top 57%, 338 students, 46% FRL); Windsor Locks Middle School (math 35% / reading 46%, grade F, #104 of 175 statewide, top 60%, 318 students, 46% FRL); Windsor Locks High School (math 27% / reading 62%, grade F, #94 of 194 statewide, top 49%, 415 students, 39% FRL).
• Market conditions: 48 active listings in the ZIP; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $4,675/mo this rent would consume 69% of the median local household income ($81k/yr) (locally 472% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $440,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.06% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.36%
• DSCR: 1.28
• GRM: 7.8

CMA / ARV

• ARV (median comp): $387,397
• List price: $440,000
• Delta: 13.58%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Lownds Dr	0.00mi	6/2.0	2,280 (0%)	0mo	$416,500	$183	100
34-36 Lownds Dr	0.05mi	6/2.0	2,280 (0%)	18mo	$335,000	$147	83
41 S Center St	0.68mi	6/2.0	2,389 (+5%)	22mo	$315,000	$132	42

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-29,670
• Equity at exit: $65,605

10-year hold

• IRR: 3.1%
• Equity multiple: 1.23×
• Total profit: $27,964
• Equity at exit: $38,043

Cash invested: $123,200 (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 06096

• Home prices YoY: -32.2%
• Active inventory: 48
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $4,675 high
• Mortgage (P&I): −$2,307
• Tax est. 1.5%: −$550 /mo · $6,600/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$982
• Net cashflow: $653

Break-even live

Break-even rent $3,849

Max offer price $440,000

Occupancy floor 81%

Sensitivity live

Price	-10% $957	-5% $805	+0% $653	+5% $500	+10% $348
Rent	-10% $283	-5% $468	+0% $653	+5% $837	+10% $1,022
Rate	-1.0pp $874	-0.5pp $764	base $653	+0.5pp $538	+1.0pp $423

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,674
Total (2 units)			$4,675

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: $110,000
• Closing costs: $13,200
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-06
   status Under Contract 581-char remark
2. 2026-04-24
   listed $440,000 Active 581-char remark

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,100
• − Mortgage interest: −$24,647
• − Property taxes: −$6,600
• − Insurance: −$2,200
• − Repairs & maintenance: −$4,488
• − Management: −$4,488
• − Depreciation: −$12,800
• Taxable income: $877
• Est. tax owed @ 24.0%: −$211
• After-tax cash flow: $7,620/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 · 12 photos

Average 55/100 Moderate rehab

This 2-family home requires moderate renovations to update the kitchen and bathrooms, and replace the flooring. The home is located in a desirable area with strong rental potential.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — dated and in need of replacement
• Minor exterior siding — some wear and tear
• Moderate flooring — dated and in need of replacement

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters
• Both replace bathroom fixtures — modernizing the bathrooms would appeal to both buyers and renters
• Both update flooring — modernizing the flooring would appeal to both buyers and renters
• Both paint interior walls — painting the interior walls would improve the home's curb appeal and make it more appealing to buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of replacement	Moderate	$3,000–15,000
exterior siding · some wear and tear	Minor	$500–3,000
flooring · dated and in need of replacement	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$9,500–48,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters ↑
• Both replace bathroom fixtures — modernizing the bathrooms would appeal to both buyers and renters ↑
• Both update flooring — modernizing the flooring would appeal to both buyers and renters ↑
• Both paint interior walls — painting the interior walls would improve the home's curb appeal and make it more appealing to buyers and renters ↑

ⓘ 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: Windsor Locks School District
• NCES district ID: 0905250
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $63,795
• Composite: 35.36/100
• National rank: #4954
• State rank: #102 of 153 in CT

Livability — Windsor Locks

• Score: 74/100
• State rank: #65
• US rank: #4599

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Windsor Locks, CT
• County: Hartford County · 754,208 people
• City population: 12,579
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 12,579
• Household income: $81,205
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 472.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 9% Two or more races 9% Black 7% Asian 6%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Romanian 9% Lithuanian 8% Russian 2%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 5% Vietnamese 1%

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: ▼ -93.85%
• Current HPI: 197.1173
• Rent YoY: —
• 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

-5.3% since first listed

3 events — show timeline

• 2026-06-10 Sold (MLS) $416,500 Smart MLS
• 2026-05-06 Pending — Smart MLS
• 2026-04-24 Listed $440,000 Smart MLS