151 Old Farms Rd #151 · Torrington, CT 06790

$222,000

3 bd · 2.5 ba · 1,584 sqft · Condo · 51 Days on market

Built 1976 $140/sqft · at area comps Est $229k · at est. $379/mo HOA · 16% 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 +11.1/30.0
• ARV discount +8.9/15.0
• 1% rule +5.4/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• DSCR +3.2/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely Hearthstone end unit, very close to the parking lot. You will totally enjoy this lifestyle with a feeling of peace, security, comfort and relaxation. This is a destination living at it’s best! All the recreation you can imagine! Lakeridge is an experience and you will want to call it your home from the very first moment you come here. Parking close by with only 6 stairs to get into your unit! The nicely sized deck off of the dining room, has room for expansion. Stone fireplace with raised hearth in the living room. Hardwood flooring throughout. Kitchen has black granite counters, plenty of cabinets and a tile floor. Three generously sized beds, master has hardwoods and an en-suite. Loft room can be used as a fourth bedroom or bonus room, office/studio. So many adventures and memories to make here! Enjoy the 19 tennis courts, three of them are indoor, ski slopes in the winter, and then relax at the East or West Lodge. There is a ball-field, pavilion, pond for fishing, too many trails to list. Don’t forget the year-round heated pool and spa, as well as Lakeridge's Fitness Center. Indoor pool house has a hot tub and saunas. Enjoy the new children's playground with your children or grandchildren. Live the Lakeridge Lifestyle!

Key facts

• Gated community
• Private wooded deck
• Vaulted ceilings

Tags

• GATED COMMUNITY
• PRIVATE WOODED DECK
• DETACHED GARAGE
• VAULTED CEILINGS
• WALKING DISTANCE TO AMENITIES
• INDOOR AND OUTDOOR POOLS

Property features AI

Finance

• Other: Part of a large community of 474 units
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee of $379; HOA amenities include clubhouse, front desk receptionist, tennis, lake/beach access, grounds maintenance, trash pickup, snow removal, water, and pool service; Professional on-site property management; Pets allowed with restrictions (inquire for details)

Exterior

• Parking: Detached garage (1); Off-street parking; Total of 3 parking spaces
• Utilities: Public water connected; Public sewer connected; Electric service for heat and hot water
• Home design: Condominium in Lakeridge complex (Hearthstone model); Condo/Co-op for sale; End unit; Located on first floor of the building
• Construction: Wood siding; Frame construction
• Exterior features: Deck; Treed lot; Walk to water, beach rights with association access

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Baseboard heat (electric); Wall cooling unit; 40-gallon electric hot water tank
• Interior features: Pre-wired for cable; Finished walk-up attic; Unfinished crawl space basement
• Laundry & utility: Laundry on main floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $222k.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (5.8% below list).
• Meets the 1% rule at list price ($2k rent vs $222k).
• Recommended offer: $209k (5.8% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 4.0% in Torrington — 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 76/100 on livability (#53 in CT, #3,449 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Torrington School District (town): math 22% / reading 39% proficiency, ranked #125 of 153 in CT (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Torringford School (math 32% / reading 32%, grade F, #361 of 553 statewide, top 68%, 612 students, 62% FRL); Torrington Middle School (math 18% / reading 39%, grade F, #146 of 175 statewide, top 84%, 975 students, 61% FRL); Torrington High School (math 22% / reading 47%, grade F, #121 of 194 statewide, top 64%, 1,010 students, 57% FRL) — zoned schools average 60% FRL vs 40% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.9%/yr); 189 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• This rent runs 39% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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.
• Current owner paid $128k; list at $222k implies a 74% gain — meaningful room to come down on a strong offer.

Recommended offer $209,105 (5.8% 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. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 1.04% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.72%
• DSCR: 0.92
• GRM: 8.0

CMA / ARV

• ARV (median comp): $229,008
• List price: $222,000
• Delta: -3.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.45×
• Total profit: $-34,474
• Equity at exit: $33,101

10-year hold

• IRR: -1.2%
• Equity multiple: 0.90×
• Total profit: $-6,159
• Equity at exit: $19,195

Cash invested: $62,160 (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 06790

• Rents YoY: 5.9%
• Active inventory: 189
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,309 medium
• Mortgage (P&I): −$1,164
• Tax est. 1.5%: −$278 /mo · $3,330/yr
• Insurance: −$92
• HOA: −$379
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-89

Break-even live

Break-even rent $2,422

Max offer price $209,105

Occupancy floor 99%

Sensitivity live

Price	-10% $64	-5% $-12	+0% $-89	+5% $-166	+10% $-243
Rent	-10% $-272	-5% $-180	+0% $-89	+5% $2	+10% $93
Rate	-1.0pp $23	-0.5pp $-33	base $-89	+0.5pp $-147	+1.0pp $-205

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: $55,500
• Closing costs: $6,660
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
355 Ledge Dr #355 Torrington, CT	3.0	2.0	1410	$6,000	$4.26	45d	1	0.35mi

HOA detail condo

• Monthly dues: $379 · $4,548/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-21
   price $222,000 Active 51 DOM
2. 2026-06-17
   days on market $250,000 Active 51 DOM
3. 2026-06-16
   days on market $250,000 Active 50 DOM
4. 2026-06-15
   days on market $250,000 Active 49 DOM
5. 2026-06-14
   days on market $250,000 Active 47 DOM
6. 2026-06-13
   days on market $250,000 Active 46 DOM
7. 2026-06-10
   days on market $250,000 Active 44 DOM
8. 2026-06-09
   days on market $250,000 Active 43 DOM
9. 2026-06-08
   days on market $250,000 Active 42 DOM
10. 2026-06-07
    days on market $250,000 Active 41 DOM
11. 2026-06-05
    days on market $250,000 Active 38 DOM
12. 2026-06-03
    days on market $250,000 Active 37 DOM
13. 2026-06-02
    days on market $250,000 Active 36 DOM
14. 2026-06-01
    days on market $250,000 Active 35 DOM
15. 2026-05-31
    days on market $250,000 Active 34 DOM
16. 2026-05-30
    days on market $250,000 Active 33 DOM
17. 2026-05-17
    price $250,000 1214-char remark
18. 2026-04-27
    listed $275,000 Active 1214-char remark
19. 2020-09-18
    soldstatus $127,500 Closed 1260-char remark

    Show marketing remark (1260 chars)

    Lovely Hearthstone end unit, very close to the parking lot. You will totally enjoy this lifestyle with a feeling of peace, security, comfort and relaxation. This is a destination living at it’s best! All the recreation you can imagine! Lakeridge is an experience and you will want to call it your home from the very first moment you come here. Parking close by with only 6 stairs to get into your unit! The nicely sized deck off of the dining room, has room for expansion. Stone fireplace with raised hearth in the living room. Hardwood flooring throughout. Kitchen has black granite counters, plenty of cabinets and a tile floor. Three generously sized beds, master has hardwoods and an en-suite. Loft room can be used as a fourth bedroom or bonus room, office/studio. So many adventures and memories to make here! Enjoy the 19 tennis courts, three of them are indoor, ski slopes in the winter, and then relax at the East or West Lodge. There is a ball-field, pavilion, pond for fishing, too many trails to list. Don’t forget the year-round heated pool and spa, as well as Lakeridge's Fitness Center. Indoor pool house has a hot tub and saunas. Enjoy the new children's playground with your children or grandchildren. Live the Lakeridge Lifestyle!

20. 2020-08-08
    historical Under Contract - Continue to Show 1260-char remark

    Show marketing remark (1260 chars)

    Lovely Hearthstone end unit, very close to the parking lot. You will totally enjoy this lifestyle with a feeling of peace, security, comfort and relaxation. This is a destination living at it’s best! All the recreation you can imagine! Lakeridge is an experience and you will want to call it your home from the very first moment you come here. Parking close by with only 6 stairs to get into your unit! The nicely sized deck off of the dining room, has room for expansion. Stone fireplace with raised hearth in the living room. Hardwood flooring throughout. Kitchen has black granite counters, plenty of cabinets and a tile floor. Three generously sized beds, master has hardwoods and an en-suite. Loft room can be used as a fourth bedroom or bonus room, office/studio. So many adventures and memories to make here! Enjoy the 19 tennis courts, three of them are indoor, ski slopes in the winter, and then relax at the East or West Lodge. There is a ball-field, pavilion, pond for fishing, too many trails to list. Don’t forget the year-round heated pool and spa, as well as Lakeridge's Fitness Center. Indoor pool house has a hot tub and saunas. Enjoy the new children's playground with your children or grandchildren. Live the Lakeridge Lifestyle!

21. 2020-07-19
    price $124,900 1260-char remark

    Show marketing remark (1260 chars)

    Lovely Hearthstone end unit, very close to the parking lot. You will totally enjoy this lifestyle with a feeling of peace, security, comfort and relaxation. This is a destination living at it’s best! All the recreation you can imagine! Lakeridge is an experience and you will want to call it your home from the very first moment you come here. Parking close by with only 6 stairs to get into your unit! The nicely sized deck off of the dining room, has room for expansion. Stone fireplace with raised hearth in the living room. Hardwood flooring throughout. Kitchen has black granite counters, plenty of cabinets and a tile floor. Three generously sized beds, master has hardwoods and an en-suite. Loft room can be used as a fourth bedroom or bonus room, office/studio. So many adventures and memories to make here! Enjoy the 19 tennis courts, three of them are indoor, ski slopes in the winter, and then relax at the East or West Lodge. There is a ball-field, pavilion, pond for fishing, too many trails to list. Don’t forget the year-round heated pool and spa, as well as Lakeridge's Fitness Center. Indoor pool house has a hot tub and saunas. Enjoy the new children's playground with your children or grandchildren. Live the Lakeridge Lifestyle!

22. 2020-06-29
    listed $129,900 Active 1260-char remark

    Show marketing remark (1260 chars)

    Lovely Hearthstone end unit, very close to the parking lot. You will totally enjoy this lifestyle with a feeling of peace, security, comfort and relaxation. This is a destination living at it’s best! All the recreation you can imagine! Lakeridge is an experience and you will want to call it your home from the very first moment you come here. Parking close by with only 6 stairs to get into your unit! The nicely sized deck off of the dining room, has room for expansion. Stone fireplace with raised hearth in the living room. Hardwood flooring throughout. Kitchen has black granite counters, plenty of cabinets and a tile floor. Three generously sized beds, master has hardwoods and an en-suite. Loft room can be used as a fourth bedroom or bonus room, office/studio. So many adventures and memories to make here! Enjoy the 19 tennis courts, three of them are indoor, ski slopes in the winter, and then relax at the East or West Lodge. There is a ball-field, pavilion, pond for fishing, too many trails to list. Don’t forget the year-round heated pool and spa, as well as Lakeridge's Fitness Center. Indoor pool house has a hot tub and saunas. Enjoy the new children's playground with your children or grandchildren. Live the Lakeridge Lifestyle!

23. 2016-02-05
    soldstatus $75,000
24. 2016-01-31
    historical
25. 2015-07-29
    listed $75,000
26. 2013-01-31
    historical
27. 2012-02-01
    listed $110,000
28. 2009-05-28
    historical
29. 2009-04-17
    listed $81,900
30. 2009-03-30
    historical
31. 2008-07-03
    listed $91,900

ⓘ 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: $27,708
• − Mortgage interest: −$12,435
• − Property taxes: −$3,330
• − Insurance: −$1,110
• − Repairs & maintenance: −$2,217
• − Management: −$2,217
• − HOA: −$4,548
• − Depreciation: −$6,458
• Taxable loss: −$4,607
• Est. tax savings @ 24.0%: +$1,106
• After-tax cash flow: $36/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: Torrington School District
• NCES district ID: 0904590
• Math proficiency: 22% ▼ -8.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $53,647
• Composite: 26.9/100
• National rank: #7087
• State rank: #125 of 153 in CT

Livability — Torrington

• Score: 76/100
• State rank: #53
• US rank: #3449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Torrington, CT
• County: Litchfield County · 81,203 people
• City population: 35,566
• Metro: Torrington, CT
• Population (ZIP): 35,566
• Household income: $70,912
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1401.0

Population outlook (Northwest Hills County) Hauer SSP2

• By 2040: 118,998

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 14% Two or more races 8% Black 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 5% Dominican 2%
• Common ancestry: Romanian 8% Lithuanian 5% Slovak 2%
• Foreign-born: 12% · Canada, South Korea, Jamaica
• Languages at home: 86% English-only · Spanish 8% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Northwest Hills

• 2024 margin: Toss-up / Even · D 48.6% · R 49.9% · Other 1.6%
• All cycles: 2024: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.78%
• Current HPI: 208.4818
• Rent YoY: ▲ 5.89%
• Metro: Torrington, 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

+141.6% since first listed

18 events — show timeline

• 2026-06-17 Listing Removed — Smart MLS
• 2026-06-17 Listing Removed — Smart MLS
• 2026-06-17 Listed $222,000 Smart MLS
• 2026-05-17 Price Changed $250,000 Smart MLS
• 2026-04-27 Listed $275,000 Smart MLS
• 2020-09-18 Sold (MLS) $127,500 Smart MLS
• 2020-08-08 Contingent — Smart MLS
• 2020-07-19 Price Changed $124,900 Smart MLS
• 2020-06-29 Listed $129,900 Smart MLS
• 2016-02-05 Sold (MLS) $75,000 Smart MLS
• 2016-01-31 Listing Removed — Smart MLS
• 2015-07-29 Listed $75,000 Smart MLS
• 2013-01-31 Listing Removed — Smart MLS
• 2012-02-01 Listed $110,000 Smart MLS
• 2009-05-28 Listing Removed — Smart MLS
• 2009-04-17 Listed $81,900 Smart MLS
• 2009-03-30 Listing Removed — Smart MLS
• 2008-07-03 Listed $91,900 Smart MLS