306 Old Colchester Rd #126 · Colchester, CT 06420

$60,000

1 bd · 1.0 ba · 400 sqft · Condo · 4 Days on market

Built 1997 Fair condition $219/mo HOA · 12% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

PLEASE SUBMIT HIGHEST AND BEST OFFER BY 12 NOON TUESDAY MAY 26TH. Seasonal Waterfront Community on beautiful Gardner lake. Season runs April 15th- Nov. 1st. Gated community. On-site management year long. Unit is a 1997 Franklin 380 Park model conveniently located across from tribal hall, pavilion & park. Minutes walk to beach & camp store. Large bedroom w/ ample closet and drawer space. Bathroom w/ tub-shower combo. Kitchen has full size gas range, microwave, refrigerator, double sink and table area. LR/sitting area has sliders to screened porch. Unit is sold AS-IS. It is unknown as to the condition or functioning of the mechanicals. All the contents will remain, it will not be

Key facts

• Gated community
• Fishing dock
• Pavilion

Tags

• WATERFRONT COMMUNITY
• GATED COMMUNITY
• PRIVATE BEACH
• BOAT LAUNCH
• FISHING DOCK
• PAVILION

Property features AI

Finance

• Other: Located in Connecticut, New London County; Nearby amenities include golf course, lake, medical facilities, and park; Access: unit owners association manages property
• HOA & community: Homeowners association with annual fee; Association fee covers lake/beach access, trash pickup, water, property management, and road maintenance; Association amenities include basketball court, bocce court, guest parking, park, and playground/tot lot; Pets allowed per regulations

Exterior

• Parking: Unpaved parking; 2 parking spaces
• Utilities: Shared well water
• Home design: Co-op seasonal property; Located in the Indianfield Camping complex; Tan exterior; End unit; Unit on first floor
• Construction: Other construction description; Other exterior siding
• Exterior features: Screened porch; Open porch; Shed; Level lot; Walkable to water

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: 1 bedroom (on first floor)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Propane fuel; Above-ground fuel tank; Hot water system (other)
• Interior features: 1-level unit; Total of 4 rooms; No basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $770 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 21.7% vs local median 3.0% in Colchester — 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 77/100 on livability (#43 in CT, #3,018 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, commute F.
• Salem School District (rural): math 64% / reading 76% proficiency, ranked #17 of 153 in CT (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Salem Elementary School (math 65% / reading 77%, grade A-, #73 of 553 statewide, top 13%, 397 students, 19% FRL).
• Market conditions: 29 active listings in the ZIP; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $60,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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?
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: 2.96% ✓
• Cap rate: 21.69%
• Cash-on-cash: 55.00%
• DSCR: 3.45
• GRM: 2.8

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: 53.4%
• Equity multiple: 3.35×
• Total profit: $39,481
• Equity at exit: $8,946

10-year hold

• IRR: 58.6%
• Equity multiple: 6.84×
• Total profit: $98,184
• Equity at exit: $5,188

Cash invested: $16,800 (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 06420

• Home prices YoY: -10.2%
• Active inventory: 29
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,777 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$219
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $770

Break-even live

Break-even rent $802

Max offer price $60,000

Occupancy floor 52%

Sensitivity live

Price	-10% $811	-5% $791	+0% $770	+5% $749	+10% $729
Rent	-10% $630	-5% $700	+0% $770	+5% $840	+10% $910
Rate	-1.0pp $800	-0.5pp $785	base $770	+0.5pp $754	+1.0pp $739

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $219 · $2,628/yr
• Likely covers: watergassecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 1 events

1. 2026-05-22
   listed $60,000 Active

ⓘ 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: $21,321
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − HOA: −$2,628
• − Depreciation: −$1,745
• Taxable income: $8,975
• Est. tax owed @ 24.0%: −$2,154
• After-tax cash flow: $7,086/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 · 13 photos

Fair 45/100 Moderate rehab

The property is in fair condition with moderate rehabilitation needs. Landscaping and exterior painting would significantly increase its value.

Repairs flagged

• Major Landscaping — The landscaping is overgrown and needs trimming.

Value-add opportunities

• Both Landscaping — A well-maintained landscape can enhance both the resale and rental value of the property.
• Both Repainting the exterior — A fresh coat of paint can improve the curb appeal and increase the property's value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · The landscaping is overgrown and needs trimming.	Major	$15,000–50,000
Total estimated repair cost · 1 items		$15,000–50,000

Value-add ROI direction

• Both Landscaping — A well-maintained landscape can enhance both the resale and rental value of the property. ↑
• Both Repainting the exterior — A fresh coat of paint can improve the curb appeal and increase the property's 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: Salem School District
• NCES district ID: 0903900
• Math proficiency: 64% ▼ -7.00%
• Reading proficiency: 76% ▼ -1.00%
• Median HH income: $97,467
• Composite: 63.86/100
• National rank: #590
• State rank: #17 of 153 in CT

Livability — Colchester

• Score: 77/100
• State rank: #43
• US rank: #3018

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,323

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 4% Two or more races 4% Black 1% Asian 1%
• Common ancestry: Romanian 7% Lithuanian 5% Russian 3%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Southeastern Connecticut

• 2024 margin: D (+13.0) · D 55.6% · R 42.6% · Other 1.8%
• All cycles: 2024: D+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.50%
• Current HPI: 278.0717
• 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

• 2026-05-22 Listed $60,000 Smart MLS