280 E Main St Unit A3 · Clinton, CT 06413

$225,000

2 bd · 1.0 ba · 1,155 sqft · Condo public records · 32 Days on market

Built 1965 $195/sqft · 18% below area Est $274k · 18% under $475/mo HOA · 15% of rent

---

Why this score? — see what drove the B 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 +27.0/30.0
• ARV discount +15.0/15.0
• 1% rule +9.4/10.0
• DSCR +9.3/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move to the beautiful Clinton shoreline just in time for Summer! Just an hour from RI and 2 hrs from NYC, generously sized bedrooms and gleaming hardwood floors compliment this updated and impeccably maintained unit! Walk down the Causeway to Shore Rd and Grove Way for peaceful walks by the beach. Shops and restaurants are close by too. Laundry is located in a common area just one floor below, as well as an extra storage area. This is a great opportunity for an investment on the shoreline as well, as the unit can be rented out. Book a showing today and check out it's prime location!

Key facts

• $475 HOA
• 2 parking spots
• Built 1965

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 2.5% in Clinton — 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 78/100 on livability (#34 in CT, #2,393 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime A-, employment B+; Watch: amenities C-, cost of living C-, commute D+.
• Clinton School District (suburban): math 47% / reading 56% proficiency, ranked #76 of 153 in CT (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Lewin G. Joel Jr. School (math 52% / reading 52%, grade C-, #213 of 553 statewide, top 41%, 549 students, 40% FRL); Jared Eliot School (math 44% / reading 54%, grade C-, #81 of 175 statewide, top 47%, 418 students, 37% FRL); The Morgan School (math 47% / reading 67%, grade C, #52 of 194 statewide, top 31%, 524 students, 30% FRL) — zoned schools average 36% FRL vs 16% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 83 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 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 $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y 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.

Recommended offer $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 B-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. 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.
8. 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.
9. 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: 1.44% ✓
• Cap rate: 9.65%
• Cash-on-cash: 12.00%
• DSCR: 1.53
• GRM: 5.8

CMA / ARV

• ARV (median comp): $274,333
• List price: $225,000
• Delta: -17.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $3,950
• Equity at exit: $33,548

10-year hold

• IRR: 11.3%
• Equity multiple: 1.89×
• Total profit: $56,260
• Equity at exit: $19,454

Cash invested: $63,000 (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 06413

• Active inventory: 83
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $3,249 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$188 /mo · $2,258/yr
• Insurance: −$94
• HOA: −$475
• Vacancy / Maint / Mgmt: −$682
• Net cashflow: $630

Break-even live

Break-even rent $2,452

Max offer price $225,000

Occupancy floor 76%

Sensitivity live

Price	-10% $757	-5% $694	+0% $630	+5% $566	+10% $503
Rent	-10% $373	-5% $502	+0% $630	+5% $758	+10% $887
Rate	-1.0pp $743	-0.5pp $687	base $630	+0.5pp $572	+1.0pp $512

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
170 Shore Rd Clinton, CT	2.0	1.0	944	$2,900	$3.07	45d	1	0.22mi
10 Grove Way #10 Clinton, CT	2.0	1.0	840	$2,450	$2.92	45d	1	0.33mi
89 Grove Beach Rd S Westbrook, CT	3.0	1.5	1441	$7,500	$5.20	45d	1	0.86mi
24 College St #6 Clinton, CT	2.0	1.0	759	$1,950	$2.57	45d	1	0.93mi

HOA detail condo

• Monthly dues: $475 · $5,700/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-05-04
   status Under Contract 589-char remark

   Show marketing remark (589 chars)

   Move to the beautiful Clinton shoreline just in time for Summer! Just an hour from RI and 2 hrs from NYC, generously sized bedrooms and gleaming hardwood floors compliment this updated and impeccably maintained unit! Walk down the Causeway to Shore Rd and Grove Way for peaceful walks by the beach. Shops and restaurants are close by too. Laundry is located in a common area just one floor below, as well as an extra storage area. This is a great opportunity for an investment on the shoreline as well, as the unit can be rented out. Book a showing today and check out it's prime location!

2. 2026-04-24
   price $225,000 589-char remark

   Show marketing remark (589 chars)

   Move to the beautiful Clinton shoreline just in time for Summer! Just an hour from RI and 2 hrs from NYC, generously sized bedrooms and gleaming hardwood floors compliment this updated and impeccably maintained unit! Walk down the Causeway to Shore Rd and Grove Way for peaceful walks by the beach. Shops and restaurants are close by too. Laundry is located in a common area just one floor below, as well as an extra storage area. This is a great opportunity for an investment on the shoreline as well, as the unit can be rented out. Book a showing today and check out it's prime location!

3. 2026-04-01
   listed $235,000 Active 589-char remark

   Show marketing remark (589 chars)

   Move to the beautiful Clinton shoreline just in time for Summer! Just an hour from RI and 2 hrs from NYC, generously sized bedrooms and gleaming hardwood floors compliment this updated and impeccably maintained unit! Walk down the Causeway to Shore Rd and Grove Way for peaceful walks by the beach. Shops and restaurants are close by too. Laundry is located in a common area just one floor below, as well as an extra storage area. This is a great opportunity for an investment on the shoreline as well, as the unit can be rented out. Book a showing today and check out it's prime location!

4. 2025-07-26
   historical $2,000
5. 2025-07-18
   price $2,000
6. 2025-06-01
   listed $2,200
7. 2024-06-24
   soldstatus $225,000 Closed 1247-char remark

   Show marketing remark (1247 chars)

   Investors take notice! A great investment property on the shoreline! First time homebuyers or folks downsizing! Amazing 2nd home opportunity as it is about 2 hours to NYC and 1 hour to Rhode Island! This ranch style unit is calling your name! Floor plan has generous sized rooms. Two bedrooms, large open living room, updated kitchen and bathroom! Simply turn the key and enjoy living on the CT Shoreline before summer! This location is fabulous for walking by the beach. Walk down the causeway to Shore road and Grove way for morning walks by the beach. A few minutes to town. Grocery and restaurants all with in walking distance. Complex is not large, plenty of parking for guests. Located close to highway connections as well as shooting up to north via rte 81. A well maintained and updated unit. Laundry is located in a common area below this unit (one floor below) , there is also storage in this area as well for unit owners. Parking spots are located (1) in the back entrance area, and (2) in the front courtyard area. These units can be rented if you purchase for an investment. Pet policy is 1 dog under 30 lbs, (check for aggressive breed restriction in notes) or 2 cats. Unlock the door to your opportunity to live on the CT Shoreline!

8. 2024-05-01
   status Under Contract 1247-char remark

   Show marketing remark (1247 chars)

   Investors take notice! A great investment property on the shoreline! First time homebuyers or folks downsizing! Amazing 2nd home opportunity as it is about 2 hours to NYC and 1 hour to Rhode Island! This ranch style unit is calling your name! Floor plan has generous sized rooms. Two bedrooms, large open living room, updated kitchen and bathroom! Simply turn the key and enjoy living on the CT Shoreline before summer! This location is fabulous for walking by the beach. Walk down the causeway to Shore road and Grove way for morning walks by the beach. A few minutes to town. Grocery and restaurants all with in walking distance. Complex is not large, plenty of parking for guests. Located close to highway connections as well as shooting up to north via rte 81. A well maintained and updated unit. Laundry is located in a common area below this unit (one floor below) , there is also storage in this area as well for unit owners. Parking spots are located (1) in the back entrance area, and (2) in the front courtyard area. These units can be rented if you purchase for an investment. Pet policy is 1 dog under 30 lbs, (check for aggressive breed restriction in notes) or 2 cats. Unlock the door to your opportunity to live on the CT Shoreline!

9. 2024-04-21
   historical Under Contract - Continue to Show 1247-char remark

   Show marketing remark (1247 chars)

   Investors take notice! A great investment property on the shoreline! First time homebuyers or folks downsizing! Amazing 2nd home opportunity as it is about 2 hours to NYC and 1 hour to Rhode Island! This ranch style unit is calling your name! Floor plan has generous sized rooms. Two bedrooms, large open living room, updated kitchen and bathroom! Simply turn the key and enjoy living on the CT Shoreline before summer! This location is fabulous for walking by the beach. Walk down the causeway to Shore road and Grove way for morning walks by the beach. A few minutes to town. Grocery and restaurants all with in walking distance. Complex is not large, plenty of parking for guests. Located close to highway connections as well as shooting up to north via rte 81. A well maintained and updated unit. Laundry is located in a common area below this unit (one floor below) , there is also storage in this area as well for unit owners. Parking spots are located (1) in the back entrance area, and (2) in the front courtyard area. These units can be rented if you purchase for an investment. Pet policy is 1 dog under 30 lbs, (check for aggressive breed restriction in notes) or 2 cats. Unlock the door to your opportunity to live on the CT Shoreline!

10. 2024-03-22
    price $235,000 1247-char remark

    Show marketing remark (1247 chars)

    Investors take notice! A great investment property on the shoreline! First time homebuyers or folks downsizing! Amazing 2nd home opportunity as it is about 2 hours to NYC and 1 hour to Rhode Island! This ranch style unit is calling your name! Floor plan has generous sized rooms. Two bedrooms, large open living room, updated kitchen and bathroom! Simply turn the key and enjoy living on the CT Shoreline before summer! This location is fabulous for walking by the beach. Walk down the causeway to Shore road and Grove way for morning walks by the beach. A few minutes to town. Grocery and restaurants all with in walking distance. Complex is not large, plenty of parking for guests. Located close to highway connections as well as shooting up to north via rte 81. A well maintained and updated unit. Laundry is located in a common area below this unit (one floor below) , there is also storage in this area as well for unit owners. Parking spots are located (1) in the back entrance area, and (2) in the front courtyard area. These units can be rented if you purchase for an investment. Pet policy is 1 dog under 30 lbs, (check for aggressive breed restriction in notes) or 2 cats. Unlock the door to your opportunity to live on the CT Shoreline!

11. 2024-02-08
    listed $224,900 Active 1247-char remark

    Show marketing remark (1247 chars)

    Investors take notice! A great investment property on the shoreline! First time homebuyers or folks downsizing! Amazing 2nd home opportunity as it is about 2 hours to NYC and 1 hour to Rhode Island! This ranch style unit is calling your name! Floor plan has generous sized rooms. Two bedrooms, large open living room, updated kitchen and bathroom! Simply turn the key and enjoy living on the CT Shoreline before summer! This location is fabulous for walking by the beach. Walk down the causeway to Shore road and Grove way for morning walks by the beach. A few minutes to town. Grocery and restaurants all with in walking distance. Complex is not large, plenty of parking for guests. Located close to highway connections as well as shooting up to north via rte 81. A well maintained and updated unit. Laundry is located in a common area below this unit (one floor below) , there is also storage in this area as well for unit owners. Parking spots are located (1) in the back entrance area, and (2) in the front courtyard area. These units can be rented if you purchase for an investment. Pet policy is 1 dog under 30 lbs, (check for aggressive breed restriction in notes) or 2 cats. Unlock the door to your opportunity to live on the CT Shoreline!

12. 2024-02-05
    historical
13. 2023-10-05
    listed $235,000 Active
14. 2023-09-14
    status Under Contract
15. 2023-09-14
    soldstatus $230,000 Closed
16. 2023-08-08
    historical Under Contract - Continue to Show
17. 2023-08-05
    listed $224,000 Active
18. 2023-08-03
    historical $224,000
19. 2022-01-18
    soldstatus $125,000
20. 2022-01-12
    soldstatus $125,000 Closed
21. 2021-12-15
    listed $159,900 Active
22. 2021-11-08
    soldstatus $75,000
23. 2015-03-20
    historical
24. 2015-01-07
    listed $94,900
25. 2014-12-31
    historical
26. 2014-07-24
    listed $94,900
27. 1988-09-30
    soldstatus $120,000

ⓘ 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: $2,258 · $188/mo
• Projected year-2 tax: $3,536 · $295/mo
• Expected delta: +$1,278/yr (+$107/mo · 56.6%)

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

Taxation est. · year 1

• Rental income: $38,990
• − Mortgage interest: −$12,603
• − Property taxes: −$2,258
• − Insurance: −$1,125
• − Repairs & maintenance: −$3,119
• − Management: −$3,119
• − HOA: −$5,700
• − Depreciation: −$6,545
• Taxable income: $4,520
• Est. tax owed @ 24.0%: −$1,085
• After-tax cash flow: $6,475/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: Clinton School District
• NCES district ID: 0900810
• Math proficiency: 47% ▼ -5.00%
• Reading proficiency: 56% ▼ -7.00%
• Median HH income: $71,762
• Composite: 46.08/100
• National rank: #2514
• State rank: #76 of 153 in CT

Livability — Clinton

• Score: 78/100
• State rank: #34
• US rank: #2393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,317

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 4% Asian 2% Pacific Islander 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -164.95%
• Current HPI: 192.3695
• 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

+87.5% since first listed

27 events — show timeline

• 2026-05-04 Pending — Smart MLS
• 2026-04-24 Price Changed $225,000 Smart MLS
• 2026-04-01 Listed $235,000 Smart MLS
• 2025-07-26 Rental Removed $2,000 SMARTMLS
• 2025-07-18 Price Changed $2,000 SMARTMLS
• 2025-06-01 Listed for Rent $2,200 SMARTMLS
• 2024-06-24 Sold (MLS) $225,000 Smart MLS
• 2024-05-01 Pending — Smart MLS
• 2024-04-21 Contingent — Smart MLS
• 2024-03-22 Price Changed $235,000 Smart MLS
• 2024-02-08 Listed $224,900 Smart MLS
• 2024-02-05 Listing Removed — Smart MLS
• 2023-10-05 Listed $235,000 Smart MLS
• 2023-09-14 Pending — Smart MLS
• 2023-09-14 Sold (MLS) $230,000 Smart MLS
• 2023-08-08 Contingent — Smart MLS
• 2023-08-05 Listed $224,000 Smart MLS
• 2023-08-03 Coming Soon $224,000 Smart MLS
• 2022-01-18 Sold (Public Records) $125,000 Public Records
• 2022-01-12 Sold (MLS) $125,000 Smart MLS
• 2021-12-15 Listed $159,900 Smart MLS
• 2021-11-08 Sold (Public Records) $75,000 Public Records
• 2015-03-20 Listing Removed — Smart MLS
• 2015-01-07 Listed $94,900 Smart MLS
• 2014-12-31 Listing Removed — Smart MLS
• 2014-07-24 Listed $94,900 Smart MLS
• 1988-09-30 Sold (Public Records) $120,000 Public Records

Property tax history

-0.5%/yr

Latest (2023): $2,258 · +0.0% YoY. Source: county tax records.