14 Pinney St #32 · Rockville, CT 06029

$119,900

1 bd · 1.0 ba · 595 sqft · Condo public records · 4 Days on market

Built 1988 $198/mo HOA · 13% of rent

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Why this score? — see what drove the C- 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 +19.3/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• DSCR +6.1/10.0
• Schools +5.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* MULTIPLE OFFERS - HIGHEST & BEST 4/12 @ 7pm * Opportunity awaits in this 1 bedroom, 1 bathroom condo in a convenient Ellington location. Perfect for investors looking to build equity with updating. This unit offers solid potential with a (2024) high efficiency boiler and hot water heater. The interior is ready for improvements, presenting the perfect chance to update and add value. Located close to the YMCA, shopping, schools and local amenities, this property combines a desirable location with great upside potential. Subject to probate approval.

Key facts

• Desirable location
• Hot water heater
• $198 HOA

Tags

• HIGH EFFICIENCY BOILER
• HOT WATER HEATER
• DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 7.6% vs local median 3.4% in Rockville — 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 73/100 on livability (#73 in CT) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, crime B+; Watch: employment D, amenities F, commute F.
• Ellington School District (suburban): math 58% / reading 66% proficiency, ranked #38 of 153 in CT (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Ellington High School (math 47% / reading 67%, grade C, #52 of 194 statewide, top 31%, 737 students, 16% FRL).
• Market conditions: 47 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• This rent is only 14% of the median local income ($129k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $88k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $119,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 7.60%
• Cash-on-cash: 4.68%
• DSCR: 1.21
• GRM: 6.8

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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-10,950
• Equity at exit: $17,877

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $1,790
• Equity at exit: $10,367

Cash invested: $33,572 (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 06029

• Active inventory: 47
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,470 high
• Mortgage (P&I): −$629
• Tax from tax record: −$154 /mo · $1,849/yr
• Insurance: −$50
• HOA: −$198
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $131

Break-even live

Break-even rent $1,305

Max offer price $119,900

Occupancy floor 86%

Sensitivity live

Price	-10% $199	-5% $165	+0% $131	+5% $97	+10% $63
Rent	-10% $15	-5% $73	+0% $131	+5% $189	+10% $247
Rate	-1.0pp $191	-0.5pp $161	base $131	+0.5pp $100	+1.0pp $68

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Regan Rd Unit 18C Vernon, CT	1.0	1.0	695	$1,350	$1.94	2d	1	1.28mi
201 Regan Rd Unit 11D Vernon, CT	1.0	1.0	695	$1,350	$1.94	44d	1	1.28mi
17 Regan St Vernon, CT	1.0–2.0	1.0	762	$1,350	$1.77	2d	1	1.28mi
100 West St Vernon, CT	1.0	1.0	674	$1,500	$2.23	44d	1	1.32mi
203 Regan Rd Vernon, CT	1.0	1.0	614	$1,850	$3.01	44d	1	1.35mi
40 West St Vernon, CT	2.0	1.0	735	$1,800	$2.45	2d	1	1.37mi
159 Pinney St Ellington, CT	1.0	1.0	459	$1,475	$3.21	2d	2	1.38mi
24 West Rd #29 Ellington, CT	1.0	1.0	625	$1,350	$2.16	2d	1	1.46mi

HOA detail condo

• Monthly dues: $198 · $2,376/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-04-14
   status Under Contract
2. 2026-04-09
   listed $119,900 Active
3. 1988-12-14
   soldstatus $87,900

ⓘ 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: $1,849 · $154/mo
• Projected year-2 tax: $2,207 · $184/mo
• Expected delta: +$358/yr (+$30/mo · 19.4%)

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

Taxation est. · year 1

• Rental income: $17,645
• − Mortgage interest: −$6,716
• − Property taxes: −$1,849
• − Insurance: −$600
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − HOA: −$2,376
• − Depreciation: −$3,488
• Taxable loss: −$207
• Est. tax savings @ 24.0%: +$50
• After-tax cash flow: $1,620/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: Ellington School District
• NCES district ID: 0901440
• Math proficiency: 58% ▼ -2.00%
• Reading proficiency: 66% ▼ -2.00%
• Median HH income: $81,612
• Composite: 55.73/100
• National rank: #1220
• State rank: #38 of 153 in CT

Livability — Rockville

• Score: 73/100
• State rank: #73
• US rank: #5355

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Tolland County · 46,815 people
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 16,238
• Household income: $129,331
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 339.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Asian 6% Two or more races 5% Hispanic / Latino 4% Black 3%
• Common ancestry: Romanian 8% Lithuanian 7% Russian 3%
• Foreign-born: 7% · Canada, Vietnam, South Korea
• Languages at home: 91% English-only · Spanish 3% Other Asian/Pacific 2% 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: ▼ -163.04%
• Current HPI: 179.3303
• Rent YoY: —
• Metro: Hartford-East Hartford-Middletown, 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

+36.4% since first listed

3 events — show timeline

• 2026-04-14 Pending — Smart MLS
• 2026-04-09 Listed $119,900 Smart MLS
• 1988-12-14 Sold (Public Records) $87,900 Public Records

Property tax history

+0.7%/yr

Latest (2023): $1,849 · +5.5% YoY. Source: county tax records.