440 Lakeview Dr · Salmon Brook, CT 06093

$399,000

2 bd · 1.0 ba · 1,047 sqft · SingleFamily public records · 21 Days on market

Built 1942 6,534 sqft lot Est $324k · 23% over · waterfront

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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 +15.1/30.0
• Schools +5.4/10.0
• DSCR +4.6/10.0
• 1% rule +3.8/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location! Location! Location! Great opportunity to own this home w/incredible potential and views of Congamond Lake! Perched across the street from the lakefront homes on Lakeview Dr., this home is ready for you to make it shine again! Bring your toolbelt along with your remodeling and/or possible expansion ideas to this great location! Property is to be sold in "As-Is" condition. Financing options will be limited. Great investment opportunity to be realized by the savvy Buyer!

Key facts

• 6,534 sq ft lot
• Garage
• Built 1942

Property features AI

Exterior

• Parking: Under-house garage; Paved parking; Driveway parking; Total of 4 parking spaces; 1 garage
• Utilities: Private well water; Septic system; Above-ground propane tank; Hot water: other
• Home design: Single family home; Private paved driveway
• Construction: Gray vinyl siding; Frame construction; Concrete foundation; Asphalt shingle roof
• Exterior features: Deck; Walk-to-water access; Beach rights; Association optional

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Propane fuel; Thermopane windows
• Interior features: Full, unfinished basement; One fireplace; Total of 5 rooms
• Laundry & utility: Washer and dryer located on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $399k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (12.3% below list).
• Recommended offer: $350k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.4% in Salmon Brook — 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 66/100 on livability (#121 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: cost of living D, amenities F, commute F.
• Suffield School District (rural): math 51% / reading 65% proficiency, ranked #47 of 153 in CT (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: A. Ward Spaulding School (480 students, 15% FRL); Suffield Middle School (math 57% / reading 66%, grade B+, #39 of 175 statewide, top 22%, 445 students, 16% FRL); Suffield High School (math 47% / reading 72%, grade C+, #45 of 194 statewide, top 25%, 676 students, 18% FRL).
• Market conditions: 13 active listings in the ZIP; 1 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $240k; list at $399k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $350,000 (12.3% below list)

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $323,680
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
440 Lakeview Dr	0.00mi	2/1.0	1,047 (0%)	15mo	$240,000	$229	88

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-56,250
• Equity at exit: $59,492

10-year hold

• IRR: -5.3%
• Equity multiple: 0.66×
• Total profit: $-38,224
• Equity at exit: $34,498

Cash invested: $111,720 (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 06093

• Home prices YoY: -13.6%
• Active inventory: 13
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$374 /mo · $4,488/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $132

Break-even live

Break-even rent $3,332

Max offer price $399,000

Occupancy floor 91%

Sensitivity live

Price	-10% $358	-5% $245	+0% $132	+5% $19	+10% $-94
Rent	-10% $-144	-5% $-6	+0% $132	+5% $271	+10% $409
Rate	-1.0pp $333	-0.5pp $234	base $132	+0.5pp $29	+1.0pp $-76

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
146 Jackson Dr West Suffield, CT	3.0	1.0	936	$3,500	$3.74	4d	1	0.33mi

Listing history 32 events

1. 2026-06-15
   status $399,000 Under Contract 21 DOM
2. 2026-06-15
   days on market $399,000 Under Contract - Continue to Show 21 DOM
3. 2026-06-13
   days on market $399,000 Under Contract - Continue to Show 19 DOM
4. 2026-06-13
   days on market $399,000 Under Contract - Continue to Show 18 DOM
5. 2026-06-10
   days on market $399,000 Under Contract - Continue to Show 16 DOM
6. 2026-06-09
   days on market $399,000 Under Contract - Continue to Show 15 DOM
7. 2026-06-08
   days on market $399,000 Under Contract - Continue to Show 14 DOM
8. 2026-06-07
   statusdays on market $399,000 Under Contract - Continue to Show 13 DOM
9. 2026-06-05
   days on market $399,000 Active 10 DOM
10. 2026-06-03
    days on market $399,000 Active 9 DOM
11. 2026-06-02
    days on market $399,000 Active 8 DOM
12. 2026-06-01
    days on market $399,000 Active 7 DOM
13. 2026-05-31
    days on market $399,000 Active 6 DOM
14. 2026-05-20
    historical $399,000
15. 2025-07-28
    historical
16. 2025-07-23
    price $399,900
17. 2025-07-16
    price $429,900
18. 2025-07-07
    price $439,900
19. 2025-06-30
    price $459,900
20. 2025-06-19
    listed $499,900 Active
21. 2025-06-14
    historical
22. 2025-03-31
    soldstatus $240,000 Closed 492-char remark

    Show marketing remark (492 chars)

    Location! Location! Location! Great opportunity to own this home w/incredible potential and views of Congamond Lake! Perched across the street from the lakefront homes on Lakeview Dr., this home is ready for you to make it shine again! Bring your toolbelt along with your remodeling and/or possible expansion ideas to this great location! Property is to be sold in "As-Is" condition. Financing options will be limited. Great investment opportunity to be realized by the savvy Buyer!

23. 2025-03-31
    soldstatus $240,000

    Show marketing remark (492 chars)

    Location! Location! Location! Great opportunity to own this home w/incredible potential and views of Congamond Lake! Perched across the street from the lakefront homes on Lakeview Dr., this home is ready for you to make it shine again! Bring your toolbelt along with your remodeling and/or possible expansion ideas to this great location! Property is to be sold in "As-Is" condition. Financing options will be limited. Great investment opportunity to be realized by the savvy Buyer!

24. 2025-03-14
    status Under Contract 492-char remark

    Show marketing remark (492 chars)

    Location! Location! Location! Great opportunity to own this home w/incredible potential and views of Congamond Lake! Perched across the street from the lakefront homes on Lakeview Dr., this home is ready for you to make it shine again! Bring your toolbelt along with your remodeling and/or possible expansion ideas to this great location! Property is to be sold in "As-Is" condition. Financing options will be limited. Great investment opportunity to be realized by the savvy Buyer!

25. 2025-03-07
    status Active 492-char remark

    Show marketing remark (492 chars)

    Location! Location! Location! Great opportunity to own this home w/incredible potential and views of Congamond Lake! Perched across the street from the lakefront homes on Lakeview Dr., this home is ready for you to make it shine again! Bring your toolbelt along with your remodeling and/or possible expansion ideas to this great location! Property is to be sold in "As-Is" condition. Financing options will be limited. Great investment opportunity to be realized by the savvy Buyer!

26. 2025-03-07
    historical 492-char remark

    Show marketing remark (492 chars)

    Location! Location! Location! Great opportunity to own this home w/incredible potential and views of Congamond Lake! Perched across the street from the lakefront homes on Lakeview Dr., this home is ready for you to make it shine again! Bring your toolbelt along with your remodeling and/or possible expansion ideas to this great location! Property is to be sold in "As-Is" condition. Financing options will be limited. Great investment opportunity to be realized by the savvy Buyer!

27. 2025-02-27
    price $250,000 492-char remark

    Show marketing remark (492 chars)

    Location! Location! Location! Great opportunity to own this home w/incredible potential and views of Congamond Lake! Perched across the street from the lakefront homes on Lakeview Dr., this home is ready for you to make it shine again! Bring your toolbelt along with your remodeling and/or possible expansion ideas to this great location! Property is to be sold in "As-Is" condition. Financing options will be limited. Great investment opportunity to be realized by the savvy Buyer!

28. 2024-12-11
    listed $279,900 Active 492-char remark

    Show marketing remark (492 chars)

    Location! Location! Location! Great opportunity to own this home w/incredible potential and views of Congamond Lake! Perched across the street from the lakefront homes on Lakeview Dr., this home is ready for you to make it shine again! Bring your toolbelt along with your remodeling and/or possible expansion ideas to this great location! Property is to be sold in "As-Is" condition. Financing options will be limited. Great investment opportunity to be realized by the savvy Buyer!

29. 2024-12-11
    soldstatus $107,500

    Show marketing remark (492 chars)

    Location! Location! Location! Great opportunity to own this home w/incredible potential and views of Congamond Lake! Perched across the street from the lakefront homes on Lakeview Dr., this home is ready for you to make it shine again! Bring your toolbelt along with your remodeling and/or possible expansion ideas to this great location! Property is to be sold in "As-Is" condition. Financing options will be limited. Great investment opportunity to be realized by the savvy Buyer!

30. 2024-12-09
    soldstatus $215,000 Closed
31. 2024-06-17
    status Under Contract
32. 2024-06-15
    listed $214,925 Active

ⓘ 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: $4,488 · $374/mo
• Projected year-2 tax: $6,513 · $543/mo
• Expected delta: +$2,025/yr (+$169/mo · 45.1%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,000
• − Mortgage interest: −$22,350
• − Property taxes: −$4,488
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − Depreciation: −$11,607
• Taxable loss: −$5,160
• Est. tax savings @ 24.0%: +$1,239
• After-tax cash flow: $2,827/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: Suffield School District
• NCES district ID: 0904470
• Math proficiency: 51% ▼ -7.00%
• Reading proficiency: 65% ▼ -5.00%
• Median HH income: $95,060
• Composite: 53.68/100
• National rank: #1427
• State rank: #47 of 153 in CT

Livability — Salmon Brook

• Score: 66/100
• State rank: #121
• US rank: #11793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,939
• Population (ZIP): 3,894

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 21% Lithuanian 13% Russian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

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: ▼ -42.23%
• Current HPI: 267.6817
• 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

+85.6% since first listed

22 events — show timeline

• 2026-06-15 Pending — Smart MLS
• 2026-06-05 Contingent — Smart MLS
• 2026-05-26 Listed $399,000 Smart MLS
• 2026-05-20 Coming Soon $399,000 Smart MLS
• 2025-07-28 Listing Removed — Smart MLS
• 2025-07-23 Price Changed $399,900 Smart MLS
• 2025-07-16 Price Changed $429,900 Smart MLS
• 2025-07-07 Price Changed $439,900 Smart MLS
• 2025-06-30 Price Changed $459,900 Smart MLS
• 2025-06-19 Listed $499,900 Smart MLS
• 2025-06-14 Coming Soon — Smart MLS
• 2025-03-31 Sold (Public Records) $240,000 Public Records
• 2025-03-31 Sold (MLS) $240,000 Smart MLS
• 2025-03-14 Pending — Smart MLS
• 2025-03-07 Relisted — Smart MLS
• 2025-03-07 Listing Removed — Smart MLS
• 2025-02-27 Price Changed $250,000 Smart MLS
• 2024-12-11 Sold (Public Records) $107,500 Public Records
• 2024-12-11 Listed $279,900 Smart MLS
• 2024-12-09 Sold (MLS) $215,000 Smart MLS
• 2024-06-17 Pending — Smart MLS
• 2024-06-15 Listed $214,925 Smart MLS

Property tax history

+2.0%/yr

Latest (2025): $4,488 · +3.4% YoY. Source: county tax records.