22 Linda Ct #22 · Middletown, CT 06416

$174,900

1 bd · 1.0 ba · 804 sqft · Condo · 41 Days on market

Built 1973 $242/mo HOA · 13% 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 +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Schools +4.9/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why rent when you can own for less!? This condo is move in ready, newly painted, and features many updates like the new A/C system. The open floor living room is sun filled from the large sliding doors that lead out to a new 20x7 deck. The large master bedroom with a 5x7 walk in closet features a brick wall accent. Both the kitchen and bathroom have been updated with new flooring, vanity, and counter tops. There is plenty of storage in the unit, the icing on the cake is the 16x19 storage area on the lower level that has your own private washer and dryer included. This complex has two pools, tennis courts, access to a club house, pet/dog friendly, and the HOA fees are only $181 a month! Come see this centrally located unit.

Key facts

• $242 HOA
• 2 parking spots
• Pool

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-8 ($-102/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (0.7% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 3.7% in Middletown — 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 81/100 on livability (#17 in CT, #1,390 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: commute F.
• Cromwell School District (suburban): math 51% / reading 58% proficiency, ranked #63 of 153 in CT (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Edna C. Stevens School (473 students, 27% FRL); Cromwell Middle School (math 46% / reading 58%, grade C+, #73 of 175 statewide, top 43%, 483 students, 26% FRL); Cromwell High School (math 52% / reading 67%, grade C+, #45 of 194 statewide, top 25%, 536 students, 25% FRL).
• Market conditions: 61 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $86k; list at $175k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,653 (3.0% 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 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.04% ✓
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 8.0

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: -16.5%
• Equity multiple: 0.41×
• Total profit: $-28,706
• Equity at exit: $26,078

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-24,976
• Equity at exit: $15,122

Cash invested: $48,972 (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 06416

• Home prices YoY: -16.0%
• Active inventory: 61
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,826 high
• Mortgage (P&I): −$917
• Tax est. 1.5%: −$219 /mo · $2,624/yr
• Insurance: −$73
• HOA: −$242
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $-8

Break-even live

Break-even rent $1,836

Max offer price $173,672

Occupancy floor 95%

Sensitivity live

Price	-10% $112	-5% $52	+0% $-8	+5% $-69	+10% $-129
Rent	-10% $-153	-5% $-81	+0% $-8	+5% $64	+10% $136
Rate	-1.0pp $80	-0.5pp $36	base $-8	+0.5pp $-54	+1.0pp $-100

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2000 Cromwell Hills Dr Unit 2107 Cromwell, CT	2.0	1.5	1057	$1,975	$1.87	25d	1	0.28mi
2211 Cromwell Hills Dr #2211 Cromwell, CT	2.0	1.5	1057	$1,900	$1.80	12d	1	0.33mi
2316 Cromwell Hills Dr Unit 2316 Cromwell, CT	2.0	1.5	1057	$1,900	$1.80	5d	1	0.34mi
150 Country Squire Dr Cromwell, CT	1.0–2.0	1.0–2.0	1037	$2,050	$1.98	3d	5	0.45mi
195 Burgundy Hill Ln #195 Middletown, CT	1.0	1.0	576	$1,290	$2.24	45d	1	0.93mi
20 Burgundy Hill Ln Middletown, CT	1.0	1.0	700	$1,600	$2.29	18d	1	0.94mi
20 Burgundy Hill Ln #20 Middletown, CT	1.0	1.0	563	$1,400	$2.49	45d	1	0.94mi
184 Burgundy Hill Ln #184 Middletown, CT	1.0	1.0	576	$1,500	$2.60	45d	1	0.98mi
161 Burgundy Hill Ln #161 Middletown, CT	1.0	1.0	727	$1,400	$1.93	13d	1	0.99mi
135 Burgundy Hill Ln #135 Middletown, CT	1.0	1.0	563	$1,350	$2.40	18d	1	1.00mi
135 Burgundy Hill Ln Middletown, CT	1.0	1.0	700	$1,600	$2.29	18d	1	1.00mi
104 Burgundy Hill Ln #104 Middletown, CT	2.0	1.0	708	$1,650	$2.33	18d	1	1.02mi
57 Burgundy Hill Ln #57 Middletown, CT	2.0	1.0	702	$1,700	$2.42	45d	1	1.05mi
100 Town Brooke Middletown, CT	1.0–2.0	1.0–2.0	813	$1,819	$2.24	3d	16	1.07mi
5 Town Colony Dr Middletown, CT	1.0–3.0	1.0–2.0	1135	$1,782	$1.57	3d	15	1.33mi
1 Dove Ln Unit LD1-117D Middletown, CT	1.0	1.0	719	$1,732	$2.41	4d	1	1.43mi
1 Dove Ln Unit UD2-035D Middletown, CT	2.0	2.0	990	$1,798	$1.82	23d	1	1.43mi
1 Dove Ln Unit LD2-162D Middletown, CT	2.0	2.0	990	$1,865	$1.88	21d	1	1.43mi
1 Dove Ln Unit LD3-176D Middletown, CT	1.0	1.0	719	$1,827	$2.54	4d	1	1.43mi
1 Dove Ln Unit UD2-040D Middletown, CT	2.0	2.0	990	$1,840	$1.86	45d	1	1.43mi
1 Dove Ln Unit RC2-038R Middletown, CT	1.0	1.0	719	$1,584	$2.20	45d	1	1.43mi
1 Dove Ln Unit NW1-018N Middletown, CT	2.0	1.0	837	$1,875	$2.24	21d	1	1.43mi
1 Dove Ln Unit LD2-142D Middletown, CT	2.0	2.0	990	$1,913	$1.93	16d	1	1.43mi
1 Dove Ln Unit NW1-007N Middletown, CT	2.0	1.0	837	$1,735	$2.07	21d	1	1.43mi
1 Dove Ln Unit LD2-152D Middletown, CT	2.0	2.0	969	$1,820	$1.88	45d	1	1.43mi
1 Dove Ln Unit RC2-045R Middletown, CT	1.0	1.0	719	$1,699	$2.36	45d	1	1.43mi
1 Dove Ln Unit RC4-080R Middletown, CT	1.0	1.0	719	$1,694	$2.36	45d	1	1.43mi
1 Dove Ln Unit UD1-004D Middletown, CT	1.0	1.0	819	$1,774	$2.17	45d	1	1.43mi
1 Dove Ln Unit LD2-141D Middletown, CT	2.0	2.0	990	$1,848	$1.87	16d	1	1.43mi
1 Dove Ln Unit NW2-036N Middletown, CT	1.0	1.0	819	$1,748	$2.13	13d	1	1.43mi
1 Dove Ln Unit UD4-094D Middletown, CT	2.0	1.0	837	$1,809	$2.16	4d	1	1.43mi
1 Dove Ln Unit NW2-040N Middletown, CT	1.0	1.0	819	$1,754	$2.14	45d	1	1.43mi
1 Dove Ln Unit RC1-022R Middletown, CT	1.0	1.0	819	$1,534	$1.87	45d	1	1.43mi
1 Dove Ln Unit UD3-063D Middletown, CT	1.0	1.0	719	$1,787	$2.49	4d	1	1.43mi
1 Dove Ln Unit NW1-002N Middletown, CT	2.0	1.0	837	$1,877	$2.24	5d	1	1.49mi
1 Dove Ln Unit NW2-044N Middletown, CT	1.0	1.0	819	$1,662	$2.03	4d	1	1.49mi
1 Dove Ln Unit RC3-071R Middletown, CT	2.0	2.0	990	$1,805	$1.82	21d	1	1.49mi
1 Dove Ln Unit UD2-044D Middletown, CT	2.0	2.0	990	$1,613	$1.63	12d	1	1.49mi

HOA detail condo

• Monthly dues: $242 · $2,904/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2025-12-12
   status Under Contract
2. 2025-11-01
   listed $174,900 Active
3. 2024-12-17
   historical $1,600
4. 2024-12-04
   price $1,600
5. 2024-12-03
   listed $1,609
6. 2016-04-28
   soldstatus $86,000 732-char remark

   Show marketing remark (732 chars)

   Why rent when you can own for less!? This condo is move in ready, newly painted, and features many updates like the new A/C system. The open floor living room is sun filled from the large sliding doors that lead out to a new 20x7 deck. The large master bedroom with a 5x7 walk in closet features a brick wall accent. Both the kitchen and bathroom have been updated with new flooring, vanity, and counter tops. There is plenty of storage in the unit, the icing on the cake is the 16x19 storage area on the lower level that has your own private washer and dryer included. This complex has two pools, tennis courts, access to a club house, pet/dog friendly, and the HOA fees are only $181 a month! Come see this centrally located unit.

7. 2016-03-16
   historical 732-char remark

   Show marketing remark (732 chars)

   Why rent when you can own for less!? This condo is move in ready, newly painted, and features many updates like the new A/C system. The open floor living room is sun filled from the large sliding doors that lead out to a new 20x7 deck. The large master bedroom with a 5x7 walk in closet features a brick wall accent. Both the kitchen and bathroom have been updated with new flooring, vanity, and counter tops. There is plenty of storage in the unit, the icing on the cake is the 16x19 storage area on the lower level that has your own private washer and dryer included. This complex has two pools, tennis courts, access to a club house, pet/dog friendly, and the HOA fees are only $181 a month! Come see this centrally located unit.

8. 2016-02-23
   listed $89,900 732-char remark

   Show marketing remark (732 chars)

   Why rent when you can own for less!? This condo is move in ready, newly painted, and features many updates like the new A/C system. The open floor living room is sun filled from the large sliding doors that lead out to a new 20x7 deck. The large master bedroom with a 5x7 walk in closet features a brick wall accent. Both the kitchen and bathroom have been updated with new flooring, vanity, and counter tops. There is plenty of storage in the unit, the icing on the cake is the 16x19 storage area on the lower level that has your own private washer and dryer included. This complex has two pools, tennis courts, access to a club house, pet/dog friendly, and the HOA fees are only $181 a month! Come see this centrally located unit.

9. 2012-06-22
   soldstatus $85,000 249-char remark

   Show marketing remark (249 chars)

   Why rent when you can own this town house. Located in cromwell hills this unit offers easy access to stores, highways and more. Spacious sun filled living/dining room with slider that opens to new deck. Central air for comfortable living year round.

10. 2011-09-17
    listed $85,000 249-char remark

    Show marketing remark (249 chars)

    Why rent when you can own this town house. Located in cromwell hills this unit offers easy access to stores, highways and more. Spacious sun filled living/dining room with slider that opens to new deck. Central air for comfortable living year round.

11. 2006-01-06
    soldstatus $113,500
12. 2005-11-20
    listed $114,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,907
• − Mortgage interest: −$9,797
• − Property taxes: −$2,624
• − Insurance: −$874
• − Repairs & maintenance: −$1,753
• − Management: −$1,753
• − HOA: −$2,904
• − Depreciation: −$5,088
• Taxable loss: −$2,885
• Est. tax savings @ 24.0%: +$692
• After-tax cash flow: $591/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: Cromwell School District
• NCES district ID: 0900990
• Math proficiency: 51% ▼ -7.00%
• Reading proficiency: 58% ▼ -9.00%
• Median HH income: $80,252
• Composite: 49.39/100
• National rank: #2013
• State rank: #63 of 153 in CT

Livability — Middletown

• Score: 81/100
• State rank: #17
• US rank: #1390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Middlesex County · 63,941 people
• City population: 46,720
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 14,334
• Household income: $110,596
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 188.0

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 12% Hispanic / Latino 9% Asian 6% Black 6%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 11% Lithuanian 5% Italian 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% Other Indo-European 2% Russian/Polish/Slavic 2%

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: ▼ -49.38%
• Current HPI: 259.9702
• 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

+52.2% since first listed

12 events — show timeline

• 2025-12-12 Pending — Smart MLS
• 2025-11-01 Listed $174,900 Smart MLS
• 2024-12-17 Rental Removed $1,600 SMARTMLS
• 2024-12-04 Price Changed $1,600 SMARTMLS
• 2024-12-03 Listed for Rent $1,609 SMARTMLS
• 2016-04-28 Sold (MLS) $86,000 Smart MLS
• 2016-03-16 Listing Removed — Smart MLS
• 2016-02-23 Listed $89,900 Smart MLS
• 2012-06-22 Sold (MLS) $85,000 Smart MLS
• 2011-09-17 Listed $85,000 Smart MLS
• 2006-01-06 Sold (MLS) $113,500 Smart MLS
• 2005-11-20 Listed $114,900 Smart MLS