2 Fairmount Ln · Granby, CT 06035

$279,900

2 bd · 1.5 ba · 1,139 sqft · Condo public records · 14 Days on market

Built 1989

---

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 +9.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +5.1/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Wow is what you will say the minute you step into this sun-filled, meticulously maintained end-unit townhouse in sought-after Chatsworth Village! Offering the perfect blend of modern convenience and carefree comfort, this beautiful home welcomes you with streaming natural light, gleaming hardwood floors, and a fresh neutral color palette throughout. The heart of the home features a beautifully updated eat-in kitchen, complete with sleek quartz countertops, a classic subway tile backsplash and stainless-steel appliances perfect for testing out your culinary skills or hosting casual gatherings. New water heater installed in 2023. Unwind in the spacious, inviting living room, where a cozy fi

Key facts

• Private deck
• Convenient garage
• Full basement

Tags

• END-UNIT TOWNHOUSE
• UPDATED EAT-IN KITCHEN
• PRIVATE DECK
• CONVENIENT GARAGE
• FULL BASEMENT
• CUL-DE-SAC COMMUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $280k.

Deal economics

• At list price, monthly cash flow is $-219 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: 41 active listings in the ZIP; 2 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 $8k of value loss. Plan a longer hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $230k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $279,900

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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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: 1.01% ✓
• Cap rate: 5.35%
• Cash-on-cash: -3.36%
• DSCR: 0.85
• GRM: 8.2

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: -21.7%
• Equity multiple: 0.25×
• Total profit: $-58,964
• Equity at exit: $41,734

10-year hold

• IRR: -15.1%
• Equity multiple: 0.13×
• Total profit: $-67,853
• Equity at exit: $24,201

Cash invested: $78,372 (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: 8.2×

Monthly cashflow live

• Estimated rent: $2,835 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$376 /mo · $4,509/yr
• Insurance: −$117
• HOA est. from 2 same-building comps: −$499
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $-219

Break-even live

Break-even rent $3,113

Max offer price $241,143

Occupancy floor —

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 Murthas Way Granby, CT	1.0–3.0	1.0–2.5	1251	$2,902	$2.32	1d	15	0.58mi
280 Salmon Brook St Granby, CT	1.0–3.0	1.0–2.0	1318	$2,688	$2.04	1d	19	1.21mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $279,900 Active 14 DOM
2. 2026-06-17
   days on market $279,900 Active 13 DOM
3. 2026-06-16
   days on market $279,900 Active 12 DOM
4. 2026-06-15
   days on market $279,900 Active 11 DOM
5. 2026-06-13
   days on market $279,900 Active 9 DOM
6. 2026-06-10
   days on market $279,900 Active 6 DOM
7. 2026-06-09
   days on market $279,900 Active 5 DOM
8. 2026-06-08
   days on market $279,900 Active 4 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $279,900 Active 3 DOM

ⓘ 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: $4,509 · $376/mo
• Projected year-2 tax: $5,249 · $437/mo
• Expected delta: +$740/yr (+$62/mo · 16.4%)

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

Taxation est. · year 1

• Rental income: $34,022
• − Mortgage interest: −$15,679
• − Property taxes: −$4,509
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,722
• − Management: −$2,722
• − HOA: −$5,988
• − Depreciation: −$8,143
• Taxable loss: −$7,139
• Est. tax savings @ 24.0%: +$1,713
• After-tax cash flow: $-919/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: 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 — Granby

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• 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

+51.3% since first listed

5 events — show timeline

• 2026-06-04 Listed $279,900 ForSaleByOwner.com
• 2022-12-20 Sold (Public Records) $230,000 Public Records
• 2021-10-20 Sold (Public Records) $193,000 Public Records
• 2009-11-02 Sold (Public Records) $149,900 Public Records
• 2007-06-11 Sold (Public Records) $185,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $4,509 · +3.3% YoY. Source: county tax records.