280 E Main St Apt E2 · Clinton, CT 06413

$250,000

2 bd · 1.5 ba · 1,170 sqft · Condo public records · 127 Days on market

Built 1965 $475/mo HOA · 15% 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 +23.7/30.0
• 1% rule +8.1/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained two bedroom/1.5 bath condominium. Hardwood floors throughout living room, dining area and bedrooms. New vinyl flooring in kitchen and full bath and newer stainless refrigerator. Bullnose granite counter tops on Kraft cabinets. Breakfast bar with pass-through to dining area. A partial basement room and additional storage room. Interior access to laundry shared by only five units. Town beach rights. George Flynn Classical Concerts free to all town residents. Two miles from Clinton Crossing shopping mall. Close to train station and convenient to I-95. Bus line along Route one.

Key facts

• Vinyl flooring
• Granite counter tops
• Hardwood floors

Tags

• HARDWOOD FLOORS
• VINYL FLOORING
• GRANITE COUNTER TOPS
• BREAKFAST BAR
• PARTIAL BASEMENT ROOM
• ADDITIONAL STORAGE ROOM

Property features AI

Finance

• Other: Professionally managed off-site; Pets allowed (restrictions apply); Part of a 40-unit community
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee of $475; HOA covers grounds maintenance, trash pickup, snow removal, water, sewer, property management, road maintenance, and insurance

Exterior

• Parking: Paved off-street parking; 2 parking spaces
• Utilities: Public water connected; Shared septic; Electric service for heat and hot water
• Home design: Condominium (Moorings I complex); Two-level unit
• Construction: Frame construction
• Exterior features: Vinyl siding and brick exterior; Lightly wooded setting; Beach rights

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Baseboard heating; Window air-conditioning unit; Electric hot water with 40-gallon tank
• Interior features: Pre-wired for cable; Partial unfinished basement with concrete floor and partial walk-out; interior access to basement
• Laundry & utility: Coin-operated common laundry in lower level; Interior access to laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.5% in Clinton — 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 78/100 on livability (#34 in CT, #2,393 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime A-, employment B+; Watch: amenities C-, cost of living C-, commute D+.
• Clinton School District (suburban): math 47% / reading 56% proficiency, ranked #76 of 153 in CT (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 84 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $136k; list at $250k implies a 84% gain — meaningful room to come down on a strong offer.

Recommended offer $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
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 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: 1.31% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.15%
• DSCR: 1.36
• GRM: 6.4

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: -3.8%
• Equity multiple: 0.86×
• Total profit: $-9,945
• Equity at exit: $37,276

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $31,473
• Equity at exit: $21,615

Cash invested: $70,000 (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 06413

• Active inventory: 84
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $3,263 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$212 /mo · $2,544/yr
• Insurance: −$104
• HOA: −$475
• Vacancy / Maint / Mgmt: −$685
• Net cashflow: $476

Break-even live

Break-even rent $2,661

Max offer price $250,000

Occupancy floor 80%

Sensitivity live

Price	-10% $617	-5% $546	+0% $476	+5% $405	+10% $334
Rent	-10% $218	-5% $347	+0% $476	+5% $604	+10% $733
Rate	-1.0pp $601	-0.5pp $539	base $476	+0.5pp $411	+1.0pp $345

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
170 Shore Rd Clinton, CT	2.0	1.0	944	$2,900	$3.07	44d	1	0.22mi
10 Grove Way #10 Clinton, CT	2.0	1.0	840	$2,450	$2.92	44d	1	0.33mi
89 Grove Beach Rd S Westbrook, CT	3.0	1.5	1441	$7,500	$5.20	44d	1	0.86mi
24 College St #6 Clinton, CT	2.0	1.0	759	$1,950	$2.57	44d	1	0.93mi

HOA detail condo

• Monthly dues: $475 · $5,700/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-13
   statusdays on market $250,000 Under Contract 127 DOM
2. 2026-06-12
   days on market $250,000 Under Contract - Continue to Show 126 DOM
3. 2026-06-09
   days on market $250,000 Under Contract - Continue to Show 123 DOM
4. 2026-06-08
   days on market $250,000 Under Contract - Continue to Show 122 DOM
5. 2026-06-07
   days on market $250,000 Under Contract - Continue to Show 121 DOM
6. 2026-06-05
   days on market $250,000 Under Contract - Continue to Show 119 DOM
7. 2026-06-04
   days on market $250,000 Under Contract - Continue to Show 117 DOM
8. 2026-06-02
   days on market $250,000 Under Contract - Continue to Show 116 DOM
9. 2026-06-01
   days on market $250,000 Under Contract - Continue to Show 115 DOM
10. 2026-05-31
    days on market $250,000 Under Contract - Continue to Show 114 DOM
11. 2026-05-31
    days on market $250,000 Under Contract - Continue to Show 113 DOM
12. 2026-04-27
    historical Under Contract - Continue to Show
13. 2026-04-08
    price $250,000
14. 2026-02-06
    listed $265,000 Active
15. 2023-08-30
    historical $2,000
16. 2023-08-23
    listed $2,000
17. 1988-06-13
    soldstatus $136,000

ⓘ 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: $2,544 · $212/mo
• Projected year-2 tax: $3,947 · $329/mo
• Expected delta: +$1,403/yr (+$117/mo · 55.1%)

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

Taxation est. · year 1

• Rental income: $39,155
• − Mortgage interest: −$14,004
• − Property taxes: −$2,544
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,132
• − Management: −$3,132
• − HOA: −$5,700
• − Depreciation: −$7,273
• Taxable income: $2,120
• Est. tax owed @ 24.0%: −$509
• After-tax cash flow: $5,198/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: Clinton School District
• NCES district ID: 0900810
• Math proficiency: 47% ▼ -5.00%
• Reading proficiency: 56% ▼ -7.00%
• Median HH income: $71,762
• Composite: 46.08/100
• National rank: #2514
• State rank: #76 of 153 in CT

Livability — Clinton

• Score: 78/100
• State rank: #34
• US rank: #2393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,317

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 4% Asian 2% Pacific Islander 2%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 3%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -164.95%
• Current HPI: 192.3695
• 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

+83.8% since first listed

6 events — show timeline

• 2026-04-27 Contingent — Smart MLS
• 2026-04-08 Price Changed $250,000 Smart MLS
• 2026-02-06 Listed $265,000 Smart MLS
• 2023-08-30 Rental Removed $2,000 SMARTMLS
• 2023-08-23 Listed for Rent $2,000 SMARTMLS
• 1988-06-13 Sold (Public Records) $136,000 Public Records

Property tax history

-0.2%/yr

Latest (2023): $2,544 · +0.0% YoY. Source: county tax records.