157 Burritt St #9 · Southington, CT 06479

$449,000

3 bd · 2.5 ba · 2,277 sqft · Condo public records · 39 Days on market

Built 2004 $197/sqft · 10% below area Est $499k · 10% under $423/mo HOA · 9% 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 +14.0/30.0
• ARV discount +12.0/15.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• DSCR +4.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Floor plan with abundance of space and meticulously maintained. This spacious 3 bedroom condo with choice of master on first or 2nd floor. Open floor plan with kitchen open to dining area and great room. Sliders to deck with electrified awning and steps leading to patio. Upper level offers master with oversized walk in closet and access to full bath with whirlpool and large vanity. Additional bedroom also offers large spacious closets. Completing the upper level is a roomy bonus room, separate laundry room and an additional space highlighted by custom made stain glass oval window. Nothing to do but enjoy easy condo living in a spacious environment with easy access to major highways and shopping.

Key facts

• Charming gazebo
• Cozy fireplace
• Loft area

Tags

• COZY FIREPLACE
• VERSATILE EXTRA ROOM
• LOFT AREA
• FULL UNFINISHED BASEMENT
• CHARMING GAZEBO

Property features AI

Finance

• HOA & community: Has homeowners association; Monthly HOA fee; HOA covers grounds maintenance, trash pickup, snow removal, and property management; Pets allowed with association approval

Exterior

• Parking: Attached garage; Driveway; Off-street parking; Parking lot; 1 garage space (1 total parking space)
• Utilities: Public water; Public sewer; Natural gas
• Home design: Condominium (Condo/Co-Op for sale); Unit on 1st floor of the building; Part of Grist Mill Commons
• Construction: Frame and stone construction; Neutral exterior color
• Exterior features: Vinyl siding; Deck; Patio; Sidewalk; Treed lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Hot air heat powered by natural gas; Natural gas hot water
• Interior features: Open floor plan; Central vacuum; Cable available; Full unfinished basement
• Laundry & utility: Upper-level laundry (convenient); Washer; Electric dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $449k.

Deal economics

• At list price, monthly cash flow is $57 ($684/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $449k).
• Recommended offer: $436k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Southington School District (suburban): math 52% / reading 64% proficiency, ranked #51 of 153 in CT (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Southington High School (math 48% / reading 68%, grade C, #50 of 194 statewide, top 25%, 1,945 students, 22% FRL).
• Market conditions: 31 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 $13k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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 $290k; list at $449k implies a 55% gain — meaningful room to come down on a strong offer.

Recommended offer $435,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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?
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: 1.00% ✓
• Cap rate: 6.45%
• Cash-on-cash: 0.54%
• DSCR: 1.02
• GRM: 8.3

CMA / ARV

• ARV (median comp): $498,982
• List price: $449,000
• Delta: -10.02%
• 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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-68,818
• Equity at exit: $66,947

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-53,990
• Equity at exit: $38,821

Cash invested: $125,720 (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 06479

• Home prices YoY: -31.5%
• Active inventory: 31
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $4,500 medium
• Mortgage (P&I): −$2,355
• Tax from tax record: −$533 /mo · $6,400/yr
• Insurance: −$187
• HOA: −$423
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $57

Break-even live

Break-even rent $4,428

Max offer price $449,000

Occupancy floor 94%

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
64 Soderman Way Cheshire, CT	3.0	2.5	2450	$4,500	$1.84	23d	1	0.74mi

HOA detail condo

• Monthly dues: $423 · $5,076/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $449,000 Active 39 DOM
2. 2026-06-17
   days on market $449,000 Active 38 DOM
3. 2026-06-16
   days on market $449,000 Active 37 DOM
4. 2026-06-15
   days on market $449,000 Active 36 DOM
5. 2026-06-13
   days on market $449,000 Active 34 DOM
6. 2026-06-10
   days on market $449,000 Active 31 DOM
7. 2026-06-09
   days on market $449,000 Active 30 DOM
8. 2026-06-08
   days on market $449,000 Active 29 DOM
9. 2026-06-07
   days on market $449,000 Active 28 DOM
10. 2026-06-05
    days on market $449,000 Active 25 DOM
11. 2026-06-03
    days on market $449,000 Active 24 DOM
12. 2026-06-02
    days on market $449,000 Active 23 DOM
13. 2026-06-01
    days on market $449,000 Active 22 DOM
14. 2026-05-31
    days on market $449,000 Active 21 DOM
15. 2026-05-18
    status Active 909-char remark
16. 2026-05-05
    status Under Contract 909-char remark
17. 2026-04-27
    listed $449,000 Active 909-char remark
18. 2015-10-23
    soldstatus $290,000 704-char remark

    Show marketing remark (704 chars)

    Floor plan with abundance of space and meticulously maintained. This spacious 3 bedroom condo with choice of master on first or 2nd floor. Open floor plan with kitchen open to dining area and great room. Sliders to deck with electrified awning and steps leading to patio. Upper level offers master with oversized walk in closet and access to full bath with whirlpool and large vanity. Additional bedroom also offers large spacious closets. Completing the upper level is a roomy bonus room, separate laundry room and an additional space highlighted by custom made stain glass oval window. Nothing to do but enjoy easy condo living in a spacious environment with easy access to major highways and shopping.

19. 2015-10-23
    soldstatus $290,000

    Show marketing remark (704 chars)

    Floor plan with abundance of space and meticulously maintained. This spacious 3 bedroom condo with choice of master on first or 2nd floor. Open floor plan with kitchen open to dining area and great room. Sliders to deck with electrified awning and steps leading to patio. Upper level offers master with oversized walk in closet and access to full bath with whirlpool and large vanity. Additional bedroom also offers large spacious closets. Completing the upper level is a roomy bonus room, separate laundry room and an additional space highlighted by custom made stain glass oval window. Nothing to do but enjoy easy condo living in a spacious environment with easy access to major highways and shopping.

20. 2015-08-14
    historical 704-char remark

    Show marketing remark (704 chars)

    Floor plan with abundance of space and meticulously maintained. This spacious 3 bedroom condo with choice of master on first or 2nd floor. Open floor plan with kitchen open to dining area and great room. Sliders to deck with electrified awning and steps leading to patio. Upper level offers master with oversized walk in closet and access to full bath with whirlpool and large vanity. Additional bedroom also offers large spacious closets. Completing the upper level is a roomy bonus room, separate laundry room and an additional space highlighted by custom made stain glass oval window. Nothing to do but enjoy easy condo living in a spacious environment with easy access to major highways and shopping.

21. 2015-07-27
    listed $309,000 704-char remark

    Show marketing remark (704 chars)

    Floor plan with abundance of space and meticulously maintained. This spacious 3 bedroom condo with choice of master on first or 2nd floor. Open floor plan with kitchen open to dining area and great room. Sliders to deck with electrified awning and steps leading to patio. Upper level offers master with oversized walk in closet and access to full bath with whirlpool and large vanity. Additional bedroom also offers large spacious closets. Completing the upper level is a roomy bonus room, separate laundry room and an additional space highlighted by custom made stain glass oval window. Nothing to do but enjoy easy condo living in a spacious environment with easy access to major highways and shopping.

22. 2004-02-06
    soldstatus $218,900
23. 2004-02-06
    soldstatus $218,850
24. 2003-02-26
    listed $214,900

ⓘ 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: $6,400 · $533/mo
• Projected year-2 tax: $8,004 · $667/mo
• Expected delta: +$1,604/yr (+$134/mo · 25.1%)

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

Taxation est. · year 1

• Rental income: $54,000
• − Mortgage interest: −$25,151
• − Property taxes: −$6,400
• − Insurance: −$2,245
• − Repairs & maintenance: −$4,320
• − Management: −$4,320
• − HOA: −$5,076
• − Depreciation: −$13,062
• Taxable loss: −$6,574
• Est. tax savings @ 24.0%: +$1,578
• After-tax cash flow: $2,261/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: Southington School District
• NCES district ID: 0904230
• Math proficiency: 52% ▼ -9.00%
• Reading proficiency: 64% ▼ -5.00%
• Median HH income: $81,467
• Composite: 52.38/100
• National rank: #1581
• State rank: #51 of 153 in CT

Livability — Southington

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 32,706
• Population (ZIP): 10,192

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 6% Asian 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 9% Lithuanian 5% Serbian 2%
• Foreign-born: 8% · Vietnam, China, Canada
• Languages at home: 90% English-only · Other Indo-European 4% Spanish 2% Russian/Polish/Slavic 2%

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: ▼ -86.08%
• Current HPI: 187.017
• 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

+108.9% since first listed

10 events — show timeline

• 2026-05-18 Relisted — Smart MLS
• 2026-05-05 Pending — Smart MLS
• 2026-04-27 Listed $449,000 Smart MLS
• 2015-10-23 Sold (Public Records) $290,000 Public Records
• 2015-10-23 Sold (MLS) $290,000 Smart MLS
• 2015-08-14 Listing Removed — Smart MLS
• 2015-07-27 Listed $309,000 Smart MLS
• 2004-02-06 Sold (Public Records) $218,850 Public Records
• 2004-02-06 Sold (MLS) $218,900 Smart MLS
• 2003-02-26 Listed $214,900 Smart MLS

Property tax history

+1.3%/yr

Latest (2025): $6,400 · +5.6% YoY. Source: county tax records.