55 Windmill Spgs #55 · Salmon Brook, CT 06035

$309,900

2 bd · 2.5 ba · 1,410 sqft · Condo · 5 Days on market

Built 1984 Fair condition $325/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 +10.4/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• 1% rule +4.4/10.0
• Livability +3.3/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Great Windmill Springs opportunity! Come visit this lovely neighborhood nestled right in Granby Center. Steps away from all the popular dining spots and shopping. Local vineyard and Rails to Trails access right down the street from complex entrance and sidewalks to Salmon Brook Park right outside the neighborhood! Backing to the woods this private unit has direct entry from the 1 car garage. Spacious main floor with vaulted ceiling fireplaced living room w/ brand new skylight w/ solar remote shade. Living room is light/bright and open to the kitchen and dining area. Fantastic private 3 season porch and 1/2 bath complete the main floor. Upstairs you will find 2 spacious bedrooms. Primary has

Key facts

• Vaulted ceiling
• Private unit
• $325 HOA

Tags

• RAILS TO TRAILS ACCESS
• SIDEWALKS TO SALMON BROOK PARK
• PRIVATE UNIT
• DIRECT ENTRY FROM GARAGE
• VAULTED CEILING
• FIREPLACED LIVING ROOM

Property features AI

Finance

• Other: 56 total units in the complex; Nearby amenities include golf course, health club, library, medical facilities, paddle tennis, park, shopping/mall, and stables/riding
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee of $325; HOA covers grounds maintenance, trash pickup, snow removal, and property management; Professional off-site property management; Pets allowed (typically 2; confirm restrictions)

Exterior

• Parking: Attached garage; Driveway; 2 total parking spaces (1 garage)
• Utilities: Public water connected; Public sewer connected; Oil fuel tank located in basement
• Home design: Condominium (part of Windmill Spring complex); End unit; 2 levels
• Construction: Frame construction
• Exterior features: Vinyl siding; Enclosed porch; Open porch; Gutters; Underground utilities; Lightly wooded, level lot

Interior

• Kitchen: Oven/Range; Dishwasher; Disposal
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Hot air heating (oil-fired); Programmable thermostat; 40-gallon electric hot water tank
• Interior features: Auto garage door opener; Cable available; Open floor plan; One fireplace; Attic with hatch access; Partially finished full basement
• Laundry & utility: Dryer (included); Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $310k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-164 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $286k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $291k (5.9% below list).
• Recommended offer: $286k (7.7% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 3.4% in Salmon Brook — 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 66/100 on livability (#121 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: cost of living D, amenities F, commute F.
• Granby School District (suburban): math 45% / reading 64% proficiency, ranked #57 of 153 in CT (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Kelly Lane Primary School (393 students, 16% FRL); Granby Memorial Middle School (math 35% / reading 63%, grade C-, #81 of 175 statewide, top 47%, 400 students, 14% FRL); Granby Memorial High School (math 62% / reading 77%, grade B, #18 of 194 statewide, top 10%, 553 students, 15% FRL).
• Market conditions: 41 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $286,172 (7.7% 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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.94% ✗
• Cap rate: 5.66%
• Cash-on-cash: -2.27%
• DSCR: 0.90
• GRM: 8.9

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: -20.0%
• Equity multiple: 0.30×
• Total profit: $-60,417
• Equity at exit: $46,207

10-year hold

• IRR: -12.7%
• Equity multiple: 0.25×
• Total profit: $-65,069
• Equity at exit: $26,794

Cash invested: $86,772 (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 06035

• Home prices YoY: -28.1%
• Active inventory: 41
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,915 medium
• Mortgage (P&I): −$1,625
• Tax est. 1.5%: −$387 /mo · $4,648/yr
• Insurance: −$129
• HOA: −$325
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $-164

Break-even live

Break-even rent $3,122

Max offer price $286,172

Occupancy floor —

Sensitivity live

Price	-10% $50	-5% $-57	+0% $-164	+5% $-271	+10% $-378
Rent	-10% $-394	-5% $-279	+0% $-164	+5% $-49	+10% $66
Rate	-1.0pp $-8	-0.5pp $-85	base $-164	+0.5pp $-244	+1.0pp $-326

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: $77,475
• Closing costs: $9,297
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
280 Salmon Brook St Granby, CT	1.0–3.0	1.0–2.0	1318	$2,688	$2.04	3d	19	0.46mi
3 Murthas Way Granby, CT	1.0–3.0	1.0–2.5	1251	$2,902	$2.32	3d	15	1.23mi
2 Murthas Way Granby, CT	3.0	2.5	1680	$3,635	$2.16	3d	1	1.29mi

HOA detail condo

• Monthly dues: $325 · $3,900/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-21
   days on market $309,900 Coming Soon 5 DOM
2. 2026-06-18
   days on market $309,900 Coming Soon 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $309,900 Coming Soon 1 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: $34,977
• − Mortgage interest: −$17,359
• − Property taxes: −$4,648
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,798
• − Management: −$2,798
• − HOA: −$3,900
• − Depreciation: −$9,015
• Taxable loss: −$7,092
• Est. tax savings @ 24.0%: +$1,702
• After-tax cash flow: $-266/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 · 5 photos

Fair 45/100 Moderate rehab

This townhouse requires significant repairs, particularly to the roof and exterior siding, and some maintenance to the landscaping. Improvements in these areas would significantly increase its resale and rental value.

Repairs flagged

• Major Roof — Significant damage and potential structural issues are visible in the Mapillary image.
• Moderate Exterior siding — The siding appears to be in fair condition but shows signs of wear and tear.
• Minor Landscaping — There are some patches of dead grass and overgrown areas that could be improved with maintenance.

Value-add opportunities

• Both Paint exterior — Fresh paint can improve the curb appeal and overall condition of the home.
• Both Replace roof — A new roof will address the significant damage and potential structural issues.
• Both Improve landscaping — A well-maintained landscape can enhance the curb appeal and property value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Roof · Significant damage and potential structural issues are visible in the Mapillary image.	Major	$15,000–50,000
Exterior siding · The siding appears to be in fair condition but shows signs of wear and tear.	Moderate	$3,000–15,000
Landscaping · There are some patches of dead grass and overgrown areas that could be improved with maintenance.	Minor	$500–3,000
Total estimated repair cost · 3 items		$18,500–68,000

Value-add ROI direction

• Both Paint exterior — Fresh paint can improve the curb appeal and overall condition of the home. ↑
• Both Replace roof — A new roof will address the significant damage and potential structural issues. ↑
• Both Improve landscaping — A well-maintained landscape can enhance the curb appeal and property 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: Granby School District
• NCES district ID: 0901680
• Math proficiency: 45% ▼ -18.00%
• Reading proficiency: 64% ▼ -13.00%
• Median HH income: $100,173
• Composite: 51.24/100
• National rank: #1751
• State rank: #57 of 153 in CT

Livability — Salmon Brook

• Score: 66/100
• State rank: #121
• US rank: #11793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salmon Brook, CT
• City population: 7,939
• Population (ZIP): 7,939

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 10% Lithuanian 9% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 90% English-only · Other Indo-European 4% Spanish 2% Russian/Polish/Slavic 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: ▼ -95.64%
• Current HPI: 244.0696
• 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

1 event — show timeline

• 2026-06-16 Coming Soon $309,900 Smart MLS