140 West St · Coventry Lake, CT 06237

$299,900

3 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 11 Days on market

Built 1920 1.50 ac lot

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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 +14.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• 1% rule +3.7/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your new home! This bright and beautiful ranch is as cozy as they come and ready to be made your own. Situated on 1.5 picturesque acres- less than a mile from Andover Lake, this place truly embodies peace and relaxation. The house features an incredible sun room, elegant formal dining room, an option for third bedroom or office space, a spacious finished area in the basement and so much more. Recent updates include: thermopane windows throughout, a new oil tank in 2018, a new water heater in 2012, and a new roof over the house and garage in 2012. Easy to show and will not last long, schedule your appointments today! **Brand new septic 2022, entire system replacement in progress.**

Key facts

• Spacious yard
• Columbia lake
• Local amenities

Tags

• SPACIOUS YARD
• NATURAL SURROUNDINGS
• FUNCTIONAL FLOW
• LOCAL AMENITIES
• RECREATIONAL OPPORTUNITIES
• COLUMBIA LAKE

Property features AI

Exterior

• Parking: Detached garage; Two-car garage
• Utilities: Private well water; Septic system; Oil hot water with fuel tank located in basement
• Home design: Single-family home
• Construction: Frame construction; Concrete foundation
• Exterior features: Level lot; Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Freezer; Dishwasher
• Bedrooms: Three bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Hot air heating; Oil-fired hot water
• Interior features: Six total rooms; Full basement with walk-out; Attic with access via hatch; One fireplace
• Laundry & utility: Washer; Dryer; Main level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $55 ($656/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $260k (13.3% below list).
• Recommended offer: $260k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.4% in Coventry Lake — 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 71/100 on livability (#92 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Columbia School District (rural): math 26% / reading 52% proficiency, ranked #95 of 153 in CT (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 16 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $260,000 (13.3% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.78%
• DSCR: 1.03
• GRM: 9.6

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: -15.1%
• Equity multiple: 0.46×
• Total profit: $-45,121
• Equity at exit: $44,716

10-year hold

• IRR: -6.5%
• Equity multiple: 0.59×
• Total profit: $-34,830
• 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 06237

• Home prices YoY: -27.9%
• Active inventory: 16
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,600 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$302 /mo · $3,620/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $55

Break-even live

Break-even rent $2,531

Max offer price $299,900

Occupancy floor 93%

Sensitivity live

Price	-10% $224	-5% $140	+0% $55	+5% $-30	+10% $-115
Rent	-10% $-151	-5% $-48	+0% $55	+5% $157	+10% $260
Rate	-1.0pp $206	-0.5pp $131	base $55	+0.5pp $-23	+1.0pp $-102

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
277 Lake Rd Andover, CT	2.0	1.0	943	$2,600	$2.76	11d	1	0.52mi

Listing history 10 events

1. 2026-05-06
   status Under Contract
2. 2026-04-23
   listed $299,900 Active
3. 2022-09-27
   soldstatus $289,900
4. 2022-09-26
   soldstatus $289,900 Closed 700-char remark

   Show marketing remark (700 chars)

   Welcome to your new home! This bright and beautiful ranch is as cozy as they come and ready to be made your own. Situated on 1.5 picturesque acres- less than a mile from Andover Lake, this place truly embodies peace and relaxation. The house features an incredible sun room, elegant formal dining room, an option for third bedroom or office space, a spacious finished area in the basement and so much more. Recent updates include: thermopane windows throughout, a new oil tank in 2018, a new water heater in 2012, and a new roof over the house and garage in 2012. Easy to show and will not last long, schedule your appointments today! **Brand new septic 2022, entire system replacement in progress.**

5. 2022-08-23
   status Under Contract 700-char remark

   Show marketing remark (700 chars)

   Welcome to your new home! This bright and beautiful ranch is as cozy as they come and ready to be made your own. Situated on 1.5 picturesque acres- less than a mile from Andover Lake, this place truly embodies peace and relaxation. The house features an incredible sun room, elegant formal dining room, an option for third bedroom or office space, a spacious finished area in the basement and so much more. Recent updates include: thermopane windows throughout, a new oil tank in 2018, a new water heater in 2012, and a new roof over the house and garage in 2012. Easy to show and will not last long, schedule your appointments today! **Brand new septic 2022, entire system replacement in progress.**

6. 2022-07-25
   status Active 700-char remark

   Show marketing remark (700 chars)

   Welcome to your new home! This bright and beautiful ranch is as cozy as they come and ready to be made your own. Situated on 1.5 picturesque acres- less than a mile from Andover Lake, this place truly embodies peace and relaxation. The house features an incredible sun room, elegant formal dining room, an option for third bedroom or office space, a spacious finished area in the basement and so much more. Recent updates include: thermopane windows throughout, a new oil tank in 2018, a new water heater in 2012, and a new roof over the house and garage in 2012. Easy to show and will not last long, schedule your appointments today! **Brand new septic 2022, entire system replacement in progress.**

7. 2022-06-29
   historical 700-char remark

   Show marketing remark (700 chars)

   Welcome to your new home! This bright and beautiful ranch is as cozy as they come and ready to be made your own. Situated on 1.5 picturesque acres- less than a mile from Andover Lake, this place truly embodies peace and relaxation. The house features an incredible sun room, elegant formal dining room, an option for third bedroom or office space, a spacious finished area in the basement and so much more. Recent updates include: thermopane windows throughout, a new oil tank in 2018, a new water heater in 2012, and a new roof over the house and garage in 2012. Easy to show and will not last long, schedule your appointments today! **Brand new septic 2022, entire system replacement in progress.**

8. 2022-06-20
   price $289,900 700-char remark

   Show marketing remark (700 chars)

   Welcome to your new home! This bright and beautiful ranch is as cozy as they come and ready to be made your own. Situated on 1.5 picturesque acres- less than a mile from Andover Lake, this place truly embodies peace and relaxation. The house features an incredible sun room, elegant formal dining room, an option for third bedroom or office space, a spacious finished area in the basement and so much more. Recent updates include: thermopane windows throughout, a new oil tank in 2018, a new water heater in 2012, and a new roof over the house and garage in 2012. Easy to show and will not last long, schedule your appointments today! **Brand new septic 2022, entire system replacement in progress.**

9. 2022-06-19
   status Active 700-char remark

   Show marketing remark (700 chars)

   Welcome to your new home! This bright and beautiful ranch is as cozy as they come and ready to be made your own. Situated on 1.5 picturesque acres- less than a mile from Andover Lake, this place truly embodies peace and relaxation. The house features an incredible sun room, elegant formal dining room, an option for third bedroom or office space, a spacious finished area in the basement and so much more. Recent updates include: thermopane windows throughout, a new oil tank in 2018, a new water heater in 2012, and a new roof over the house and garage in 2012. Easy to show and will not last long, schedule your appointments today! **Brand new septic 2022, entire system replacement in progress.**

10. 2022-06-01
    listed $274,900 Active 700-char remark

    Show marketing remark (700 chars)

    Welcome to your new home! This bright and beautiful ranch is as cozy as they come and ready to be made your own. Situated on 1.5 picturesque acres- less than a mile from Andover Lake, this place truly embodies peace and relaxation. The house features an incredible sun room, elegant formal dining room, an option for third bedroom or office space, a spacious finished area in the basement and so much more. Recent updates include: thermopane windows throughout, a new oil tank in 2018, a new water heater in 2012, and a new roof over the house and garage in 2012. Easy to show and will not last long, schedule your appointments today! **Brand new septic 2022, entire system replacement in progress.**

ⓘ 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: $3,620 · $302/mo
• Projected year-2 tax: $5,019 · $418/mo
• Expected delta: +$1,399/yr (+$117/mo · 38.6%)

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

Taxation est. · year 1

• Rental income: $31,200
• − Mortgage interest: −$16,799
• − Property taxes: −$3,620
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,496
• − Management: −$2,496
• − Depreciation: −$8,724
• Taxable loss: −$4,435
• Est. tax savings @ 24.0%: +$1,064
• After-tax cash flow: $1,720/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: Columbia School District
• NCES district ID: 0900900
• Math proficiency: 26% ▼ -22.00%
• Reading proficiency: 52% ▼ -15.00%
• Median HH income: $90,758
• Composite: 37.46/100
• National rank: #4409
• State rank: #95 of 153 in CT

Livability — Coventry Lake

• Score: 71/100
• State rank: #92
• US rank: #7117

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 12,267
• Population (ZIP): 5,268

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 6% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 8% Lithuanian 5% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -73.32%
• Current HPI: 189.6876
• 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

+9.1% since first listed

10 events — show timeline

• 2026-05-06 Pending — Smart MLS
• 2026-04-23 Listed $299,900 Smart MLS
• 2022-09-27 Sold (Public Records) $289,900 Public Records
• 2022-09-26 Sold (MLS) $289,900 Smart MLS
• 2022-08-23 Pending — Smart MLS
• 2022-07-25 Relisted — Smart MLS
• 2022-06-29 Listing Removed — Smart MLS
• 2022-06-20 Price Changed $289,900 Smart MLS
• 2022-06-19 Relisted — Smart MLS
• 2022-06-01 Listed $274,900 Smart MLS

Property tax history

+1.0%/yr

Latest (2023): $3,620 · +0.1% YoY. Source: county tax records.