6 Stevens Pl #6 · Newington, CT 06067

$184,900

2 bd · 2.5 ba · 1,450 sqft · Condo · 5 Days on market

Built 1974 Poor condition $461/mo HOA · 22% 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 +11.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +5.6/10.0
• Livability +4.0/5.0
• DSCR +3.4/10.0
• Rent growth +3.4/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

MULTIPLE OFFERS RECEIVED- PLEASE SUBMIT HIGHEST AND BEST BY 5/19Townhome offering 2 bedrooms, 2 full baths, and 1 half bath with a functional layout that includes a fireplaced living room, second-floor laundry, exterior deck, and partially finished lower level. Additional features include covered carport parking for one vehicle and access to the association pool. Set within a desirable community known for its pleasant walking areas and convenient setting. Property requires extensive renovation and is being sold in as-is condition. Aggressively priced to reflect the substantial updates and repairs needed, presenting a significant opportunity for the right buyer to build equity. Seller makes

Key facts

• Association pool
• Exterior deck
• $461 HOA

Tags

• FIREPLACED LIVING ROOM
• EXTERIOR DECK
• PARTIALLY FINISHED LOWER LEVEL
• COVERED CARPORT PARKING
• ASSOCIATION POOL
• PLEASANT WALKING AREAS

Property features AI

Finance

• Other: Nearby amenities: golf course and playground/tot lot
• HOA & community: Homeowners association with monthly fee; HOA fee covers grounds maintenance, snow removal, property management, and pool service; Association amenities include pool; Pets allowed per HOA; Professional off-site property management; 108-unit community

Exterior

• Parking: One garage (carport/unassigned parking noted); Two total parking spaces
• Utilities: Public water connected; Public sewer connected; Hot water: other
• Home design: Condominium; End unit; Part of Cold Spring Village complex; Tan exterior color
• Construction: Frame construction
• Exterior features: Vinyl siding; Deck; In-ground gunite swimming pool

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: Two bedrooms
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Hot water heating; Natural gas fuel
• Interior features: Four total rooms; Three levels in unit; One fireplace; Full, partially finished basement; Attic accessible via hatch
• Laundry & utility: Laundry on upper level

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $185k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-62 ($-746/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (4.9% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $176k (4.9% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 4.4% in Newington — 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 79/100 on livability (#30 in CT, #2,143 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Rocky Hill School District (suburban): math 59% / reading 67% proficiency, ranked #34 of 153 in CT (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: West Hill School (math 82% / reading 72%, grade A, #28 of 553 statewide, top 7%, 399 students, 13% FRL); Rocky Hill High School (math 57% / reading 77%, grade B, #26 of 194 statewide, top 16%, 722 students, 21% FRL).
• Market conditions: Rents rising (+3.4%/yr); 54 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,904 (4.9% 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. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.15% ✓
• Cap rate: 5.89%
• Cash-on-cash: -1.44%
• DSCR: 0.94
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.43% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.37×
• Total profit: $-32,684
• Equity at exit: $27,569

10-year hold

• IRR: -8.5%
• Equity multiple: 0.45×
• Total profit: $-28,461
• Equity at exit: $15,987

Cash invested: $51,772 (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 06067

• Rents YoY: 3.4%
• Active inventory: 54
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,122 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,774/yr
• Insurance: −$77
• HOA: −$461
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $-62

Break-even live

Break-even rent $2,201

Max offer price $175,904

Occupancy floor 98%

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
98 Cold Spring Rd Rocky Hill, CT	1.0–2.0	1.0–2.0	1032	$1,949	$1.89	1d	27	0.25mi
17 Sagamore Ln Rocky Hill, CT	1.0–2.0	1.0–2.0	971	$2,940	$3.03	1d	9	1.02mi
11 Kensington Ln Rocky Hill, CT	1.0–2.0	1.0–2.0	958	$2,825	$2.95	1d	1	1.05mi

HOA detail condo

• Monthly dues: $461 · $5,532/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 1 events

1. 2026-05-15
   listed $184,900 Active 830-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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 15 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: $25,468
• − Mortgage interest: −$10,357
• − Property taxes: −$2,774
• − Insurance: −$924
• − Repairs & maintenance: −$2,037
• − Management: −$2,037
• − HOA: −$5,532
• − Depreciation: −$5,379
• Taxable loss: −$3,573
• Est. tax savings @ 24.0%: +$858
• After-tax cash flow: $112/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 · 30 photos

Poor 20/100 Extensive rehab

This townhouse requires extensive renovation and is in poor condition. Significant updates are needed to increase its value for resale and rental.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major bathroom cabinets — dated and in poor condition
• Major exterior siding — weathered and in poor condition
• Major deck — damaged and in poor condition
• Major flooring — damaged and uneven

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value
• Both bathroom renovation — modernizing the bathrooms would increase both resale and rental value
• Both exterior siding and deck repair — repairing the siding and deck would improve curb appeal and increase both resale and rental value
• Both flooring replacement — replacing the flooring would improve the overall appearance and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
bathroom cabinets · dated and in poor condition	Major	$15,000–50,000
exterior siding · weathered and in poor condition	Major	$15,000–50,000
deck · damaged and in poor condition	Major	$15,000–50,000
flooring · damaged and uneven	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value ↑
• Both bathroom renovation — modernizing the bathrooms would increase both resale and rental value ↑
• Both exterior siding and deck repair — repairing the siding and deck would improve curb appeal and increase both resale and rental value ↑
• Both flooring replacement — replacing the flooring would improve the overall appearance and increase both resale and rental 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: Rocky Hill School District
• NCES district ID: 0903840
• Math proficiency: 59% ▼ -7.00%
• Reading proficiency: 67% ▼ -8.00%
• Median HH income: $75,825
• Composite: 56.01/100
• National rank: #1191
• State rank: #34 of 153 in CT

Livability — Newington

• Score: 79/100
• State rank: #30
• US rank: #2143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hartford County · 754,208 people
• City population: 30,896
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 20,872
• Household income: $100,027
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 560.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Asian 14% Hispanic / Latino 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 9% Lithuanian 4% Russian 3%
• Foreign-born: 23% · Canada, China, Jamaica
• Languages at home: 69% English-only · Other Indo-European 11% Spanish 7% Russian/Polish/Slavic 6%

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: ▼ -188.36%
• Current HPI: 184.2022
• Rent YoY: ▲ 3.43%
• 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

+22.3% since first listed

3 events — show timeline

• 2026-06-15 Sold (MLS) $226,130 Smart MLS
• 2026-05-20 Pending — Smart MLS
• 2026-05-15 Listed $184,900 Smart MLS