4 Fairmount Ln #4 · Granby, CT 06035

$289,900

2 bd · 2.5 ba · 1,373 sqft · Condo · 35 Days on market

Built 1989 Fair condition $211/sqft · 45% below area Est $528k · 45% under $601/mo HOA · 19% 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).

• ARV discount +15.0/15.0
• Cash flow +11.7/30.0
• 1% rule +6.0/10.0
• Schools +5.1/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this updated and rarely available townhouse in the ever popular Chatsworth! This beautiful condo is move in ready with space for all! The first level has an updated kitchen, half bath, separate dining area and spacious living room with fireplace and doors to deck. Upstairs find 2 HUGE bedrooms and a full bath. The completely finished lower level with another full bath is perfect for a family room, play area, home office, guest quarters or all of the above! Chatsworth is the perfect location..quiet and peaceful, backing up to the McLean Game Refuge, where you can enjoy the great outdoors, and yet conveniently close to all that Granby and the surrounding areas have to offer..shopping, wineries, breweries, restaurants, rails to trails, skating, the YMCA and craft ice cream!! Bradley International Airport is close by as well. Dont miss this opportunity!

Key facts

• Breathtaking views
• Nearby shops
• Finished basement

Tags

• FINISHED BASEMENT
• BACK DECK
• HIKING TRAILS
• BREATHTAKING VIEWS
• NEARBY SHOPS
• LOCAL AMENITIES

Property features AI

Finance

• Other: Pets allowed per HOA rules; Part of a complex with 90 units
• HOA & community: Homeowners association with monthly fee; HOA fee covers grounds maintenance, trash pickup, and snow removal

Exterior

• Parking: Detached garage (1-car)
• Utilities: Public water connected; Public sewer connected; Gas available in street
• Home design: Condominium in Chatsworth Village; Condo/Co-op for sale
• Construction: Frame construction
• Exterior features: Vinyl siding; Located on a cul-de-sac

Interior

• Kitchen: Oven/Range; Microwave; Range hood; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full baths, 1 half bath
• Heating & cooling: Hot air heating (gas in street); Central air conditioning
• Interior features: Full basement; Central air; One fireplace; Total of 4 rooms; Unit spans 3 levels
• Laundry & utility: Washer; Dryer; 40-gallon hot water tank

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $290k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $278k (4.2% below list).
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $278k (4.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Granby School District (suburban): math 45% / reading 64% proficiency, ranked #57 of 153 in CT (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: 41 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y 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 $220k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $277,651 (4.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.10% ✓
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 7.6

CMA / ARV

• ARV (median comp): $527,787
• List price: $289,900
• Delta: -45.07%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -18.2%
• Equity multiple: 0.36×
• Total profit: $-51,950
• Equity at exit: $43,225

10-year hold

• IRR: -10.1%
• Equity multiple: 0.38×
• Total profit: $-50,484
• Equity at exit: $25,065

Cash invested: $81,172 (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 06035

• Home prices YoY: -28.1%
• Active inventory: 41
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,190 medium
• Mortgage (P&I): −$1,520
• Tax est. 1.5%: −$362 /mo · $4,348/yr
• Insurance: −$121
• HOA: −$601
• Vacancy / Maint / Mgmt: −$670
• Net cashflow: $-85

Break-even live

Break-even rent $3,297

Max offer price $277,651

Occupancy floor 98%

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Murthas Way Granby, CT	3.0	2.5	1680	$3,635	$2.16	1d	1	0.53mi
3 Murthas Way Granby, CT	1.0–3.0	1.0–2.5	1251	$2,902	$2.32	1d	15	0.58mi
280 Salmon Brook St Granby, CT	1.0–3.0	1.0–2.0	1318	$2,688	$2.04	1d	19	1.21mi
5 Ice Pond Rd Granby, CT	3.0	2.5	1838	$3,500	$1.90	10d	1	1.46mi

HOA detail condo

• Monthly dues: $601 · $7,212/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $289,900 Active 35 DOM
2. 2026-06-17
   days on market $289,900 Active 34 DOM
3. 2026-06-16
   days on market $289,900 Active 33 DOM
4. 2026-06-15
   days on market $289,900 Active 32 DOM
5. 2026-06-13
   days on market $289,900 Active 30 DOM
6. 2026-06-10
   days on market $289,900 Active 27 DOM
7. 2026-06-09
   days on market $289,900 Active 26 DOM
8. 2026-06-08
   days on market $289,900 Active 25 DOM
9. 2026-06-07
   pricedays on market $289,900 Active 24 DOM
10. 2026-06-03
    days on market $305,000 Active 20 DOM
11. 2026-06-02
    days on market $305,000 Active 19 DOM
12. 2026-06-01
    days on market $305,000 Active 18 DOM
13. 2026-05-31
    days on market $305,000 Active 17 DOM
14. 2026-05-14
    listed $305,000 Active 1285-char remark
15. 2021-07-09
    soldstatus $219,500 Closed 877-char remark

    Show marketing remark (877 chars)

    Welcome home to this updated and rarely available townhouse in the ever popular Chatsworth! This beautiful condo is move in ready with space for all! The first level has an updated kitchen, half bath, separate dining area and spacious living room with fireplace and doors to deck. Upstairs find 2 HUGE bedrooms and a full bath. The completely finished lower level with another full bath is perfect for a family room, play area, home office, guest quarters or all of the above! Chatsworth is the perfect location..quiet and peaceful, backing up to the McLean Game Refuge, where you can enjoy the great outdoors, and yet conveniently close to all that Granby and the surrounding areas have to offer..shopping, wineries, breweries, restaurants, rails to trails, skating, the YMCA and craft ice cream!! Bradley International Airport is close by as well. Dont miss this opportunity!

16. 2021-05-06
    historical Under Contract - Continue to Show 877-char remark

    Show marketing remark (877 chars)

    Welcome home to this updated and rarely available townhouse in the ever popular Chatsworth! This beautiful condo is move in ready with space for all! The first level has an updated kitchen, half bath, separate dining area and spacious living room with fireplace and doors to deck. Upstairs find 2 HUGE bedrooms and a full bath. The completely finished lower level with another full bath is perfect for a family room, play area, home office, guest quarters or all of the above! Chatsworth is the perfect location..quiet and peaceful, backing up to the McLean Game Refuge, where you can enjoy the great outdoors, and yet conveniently close to all that Granby and the surrounding areas have to offer..shopping, wineries, breweries, restaurants, rails to trails, skating, the YMCA and craft ice cream!! Bradley International Airport is close by as well. Dont miss this opportunity!

17. 2021-04-29
    listed $214,900 Active 877-char remark

    Show marketing remark (877 chars)

    Welcome home to this updated and rarely available townhouse in the ever popular Chatsworth! This beautiful condo is move in ready with space for all! The first level has an updated kitchen, half bath, separate dining area and spacious living room with fireplace and doors to deck. Upstairs find 2 HUGE bedrooms and a full bath. The completely finished lower level with another full bath is perfect for a family room, play area, home office, guest quarters or all of the above! Chatsworth is the perfect location..quiet and peaceful, backing up to the McLean Game Refuge, where you can enjoy the great outdoors, and yet conveniently close to all that Granby and the surrounding areas have to offer..shopping, wineries, breweries, restaurants, rails to trails, skating, the YMCA and craft ice cream!! Bradley International Airport is close by as well. Dont miss this opportunity!

18. 2021-04-23
    historical $214,900 877-char remark

    Show marketing remark (877 chars)

    Welcome home to this updated and rarely available townhouse in the ever popular Chatsworth! This beautiful condo is move in ready with space for all! The first level has an updated kitchen, half bath, separate dining area and spacious living room with fireplace and doors to deck. Upstairs find 2 HUGE bedrooms and a full bath. The completely finished lower level with another full bath is perfect for a family room, play area, home office, guest quarters or all of the above! Chatsworth is the perfect location..quiet and peaceful, backing up to the McLean Game Refuge, where you can enjoy the great outdoors, and yet conveniently close to all that Granby and the surrounding areas have to offer..shopping, wineries, breweries, restaurants, rails to trails, skating, the YMCA and craft ice cream!! Bradley International Airport is close by as well. Dont miss this opportunity!

19. 2006-05-31
    soldstatus $205,000

    Show marketing remark (249 chars)

    Beautiful new paint, carpet & refinished hardwood floors. Ll bath & sq.Ft. (350+) Not refl. In living spac great office or teen space. Marble entry and powderroom, fp, large closets & rooms. Cul-de-sac, mclean game refuge surrounds comp.

20. 2006-04-11
    listed $207,000

    Show marketing remark (249 chars)

    Beautiful new paint, carpet & refinished hardwood floors. Ll bath & sq.Ft. (350+) Not refl. In living spac great office or teen space. Marble entry and powderroom, fp, large closets & rooms. Cul-de-sac, mclean game refuge surrounds comp.

21. 2004-08-05
    soldstatus $184,900
22. 2004-05-01
    listed $184,900
23. 2000-06-15
    soldstatus $135,000
24. 2000-04-10
    listed $137,500

ⓘ 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: $38,275
• − Mortgage interest: −$16,239
• − Property taxes: −$4,348
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,062
• − Management: −$3,062
• − HOA: −$7,212
• − Depreciation: −$8,433
• Taxable loss: −$5,531
• Est. tax savings @ 24.0%: +$1,327
• After-tax cash flow: $312/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 · 2 photos

Fair 45/100 Moderate rehab

The property is in fair condition with moderate rehabilitation needed, including exterior painting and landscaping maintenance. Updates to these areas can significantly enhance its resale and rental value.

Repairs flagged

• Minor exterior paint — Dark gray siding with some discoloration
• Minor landscaping — Bushes and trees need trimming

Value-add opportunities

• Resale paint exterior — Fresh paint can make the home appear more appealing
• Rental trim landscaping — Well-maintained landscaping can attract more tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Dark gray siding with some discoloration	Minor	$500–3,000
landscaping · Bushes and trees need trimming	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale paint exterior — Fresh paint can make the home appear more appealing ↑
• Rental trim landscaping — Well-maintained landscaping can attract more tenants ↑

ⓘ 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: Granby School District
• NCES district ID: 0901680
• Math proficiency: 45% ▼ -18.00%
• Reading proficiency: 64% ▼ -13.00%
• Median HH income: $100,173
• Composite: 51.24/100
• National rank: #1751
• State rank: #57 of 153 in CT

Livability — Granby

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

Census & demographics

• Population (ZIP): 7,939

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 10% Lithuanian 9% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam, China
• 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: ▼ -95.64%
• Current HPI: 244.0696
• 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

+110.8% since first listed

12 events — show timeline

• 2026-06-04 Price Changed $289,900 Smart MLS
• 2026-05-14 Listed $305,000 Smart MLS
• 2021-07-09 Sold (MLS) $219,500 Smart MLS
• 2021-05-06 Contingent — Smart MLS
• 2021-04-29 Listed $214,900 Smart MLS
• 2021-04-23 Coming Soon $214,900 Smart MLS
• 2006-05-31 Sold (MLS) $205,000 Smart MLS
• 2006-04-11 Listed $207,000 Smart MLS
• 2004-08-05 Sold (MLS) $184,900 Smart MLS
• 2004-05-01 Listed $184,900 Smart MLS
• 2000-06-15 Sold (MLS) $135,000 Smart MLS
• 2000-04-10 Listed $137,500 Smart MLS