68 Old Wheeler Ln · Collinsville, CT 06001

$499,900

3 bd · 1.5 ba · 1,620 sqft · SingleFamily public records · 23 Days on market

Built 1956 0.69 ac lot Est $377k · 32% over ↓ 44% since listing

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Why this score? — see what drove the F 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).

• Schools +6.6/10.0
• Livability +4.0/5.0
• Cash flow +3.8/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into two worlds in this beyond charming custom built home! The fabulous great room with its antique New England barn wood and beams, oversized brick fireplace and custom built-ins transports you to a warm and inviting vintage environment. Think holiday dinners, media area, home office, entertaining, just hunkering down in front of the fireplace in winter, or gazing out to the expansive yard, watching for deer! Stepping into the 21st century, the remodeled kitchen and dining area boasts a bright and cheery atmosphere. An abundance of cabinets above and below the granite countertops provide storage for all the necessities and extras for cooking and enertaining. Let's not forget the convenience of a built in multi bottle wine cooler! The majority of flooring is hardwood, some covered in wall to wall carpeting for those who like a soft feel underfoot. The flexible first floor plan now has a master bedroom and adjacent room turned into laundry room. This can easily become a master suite with bath, or laundry room can be converted back to a first floor bedroom if 4 bedrooms are needed, Laundry hookups still remain on lower level for ease if needed! For that more formal but cozy feeling, the living room has a fireplace as well. Two ample size upper bedrooms and full bath complete upper level. A retro rumpus room is on lower level, ready for parties. Huge workshop leads to two car garage. Outdoor living is at its best in the gorgeous yard, complete with patio and shed More...

Key facts

• 0.69 acre lot
• 3 garage spots
• Built 1956

Property features AI

Exterior

• Parking: Attached garage; Detached garage; Three garages total
• Utilities: Public water connected; Septic system; Oil and wood heating fuel (above-ground fuel tank); Generator ready; Thermopane windows; Extra insulation; Fireplace insert
• Home design: Single-family home
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Wood and shingle siding
• Exterior features: Shed; Patio; Sloping lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher; Wine chiller
• Bedrooms: Four bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot air heating; Wood/coal stove; Programmable thermostat
• Interior features: Eight total rooms; Two fireplaces; Full, partially finished, heated basement with garage access; Attic with storage space; Central air conditioning
• Laundry & utility: Laundry room on lower level; 50-gallon electric hot water tank

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $500k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $243k (51.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $258k (48.3% below list).
• Recommended offer: $243k (51.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 79/100 on livability (#28 in CT, #2,040 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Avon School District (suburban): math 64% / reading 77% proficiency, ranked #11 of 153 in CT (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Roaring Brook School (math 67% / reading 77%, grade A-, #62 of 553 statewide, top 13%, 483 students, 8% FRL); Avon High School (math 72% / reading 88%, grade A, #6 of 194 statewide, top 3%, 923 students, 11% FRL) — zoned schools at 9% FRL track the district average.
• Market conditions: 107 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($492k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $315k; list at $500k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $243,129 (51.4% 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. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.52% ✗
• Cap rate: 2.80%
• Cash-on-cash: -12.46%
• DSCR: 0.45
• GRM: 16.1

CMA / ARV

• ARV (on-the-fly): $377,460
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Chevas Rd	0.70mi	3/3.0	1,822 (+12%)	8mo	$425,000	$233	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -39.4%
• Equity multiple: -0.24×
• Total profit: $-173,518
• Equity at exit: $74,537

10-year hold

• IRR: -61.4%
• Equity multiple: -0.93×
• Total profit: $-270,045
• Equity at exit: $43,222

Cash invested: $139,972 (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 06001

• Active inventory: 107
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $2,583 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$664 /mo · $7,972/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $-1,454

Break-even live

Break-even rent $4,423

Max offer price $243,129

Occupancy floor —

Sensitivity live

Price	-10% $-1,171	-5% $-1,312	+0% $-1,454	+5% $-1,595	+10% $-1,737
Rent	-10% $-1,658	-5% $-1,556	+0% $-1,454	+5% $-1,351	+10% $-1,249
Rate	-1.0pp $-1,202	-0.5pp $-1,326	base $-1,454	+0.5pp $-1,583	+1.0pp $-1,715

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
535 Lovely St Avon, CT	2.0	1.0	1300	$2,500	$1.92	4d	1	0.76mi
5 Camden Way Avon, CT	3.0	1.0	1500	$2,500	$1.67	2d	1	1.37mi
2 Stonington Ct #2 Avon, CT	3.0	2.5	1700	$2,800	$1.65	2d	1	1.44mi

Listing history 8 events

1. 2026-05-12
   status Under Contract
2. 2026-04-23
   historical Under Contract - Continue to Show
3. 2026-04-20
   listed $499,900 Active
4. 2026-04-10
   historical $499,900
5. 2020-09-02
   soldstatus $315,000
6. 2020-08-28
   soldstatus $315,000 Closed 1497-char remark

   Show marketing remark (1497 chars)

   Step into two worlds in this beyond charming custom built home! The fabulous great room with its antique New England barn wood and beams, oversized brick fireplace and custom built-ins transports you to a warm and inviting vintage environment. Think holiday dinners, media area, home office, entertaining, just hunkering down in front of the fireplace in winter, or gazing out to the expansive yard, watching for deer! Stepping into the 21st century, the remodeled kitchen and dining area boasts a bright and cheery atmosphere. An abundance of cabinets above and below the granite countertops provide storage for all the necessities and extras for cooking and enertaining. Let's not forget the convenience of a built in multi bottle wine cooler! The majority of flooring is hardwood, some covered in wall to wall carpeting for those who like a soft feel underfoot. The flexible first floor plan now has a master bedroom and adjacent room turned into laundry room. This can easily become a master suite with bath, or laundry room can be converted back to a first floor bedroom if 4 bedrooms are needed, Laundry hookups still remain on lower level for ease if needed! For that more formal but cozy feeling, the living room has a fireplace as well. Two ample size upper bedrooms and full bath complete upper level. A retro rumpus room is on lower level, ready for parties. Huge workshop leads to two car garage. Outdoor living is at its best in the gorgeous yard, complete with patio and shed More...

7. 2020-07-07
   listed $309,000 Active 1497-char remark

   Show marketing remark (1497 chars)

   Step into two worlds in this beyond charming custom built home! The fabulous great room with its antique New England barn wood and beams, oversized brick fireplace and custom built-ins transports you to a warm and inviting vintage environment. Think holiday dinners, media area, home office, entertaining, just hunkering down in front of the fireplace in winter, or gazing out to the expansive yard, watching for deer! Stepping into the 21st century, the remodeled kitchen and dining area boasts a bright and cheery atmosphere. An abundance of cabinets above and below the granite countertops provide storage for all the necessities and extras for cooking and enertaining. Let's not forget the convenience of a built in multi bottle wine cooler! The majority of flooring is hardwood, some covered in wall to wall carpeting for those who like a soft feel underfoot. The flexible first floor plan now has a master bedroom and adjacent room turned into laundry room. This can easily become a master suite with bath, or laundry room can be converted back to a first floor bedroom if 4 bedrooms are needed, Laundry hookups still remain on lower level for ease if needed! For that more formal but cozy feeling, the living room has a fireplace as well. Two ample size upper bedrooms and full bath complete upper level. A retro rumpus room is on lower level, ready for parties. Huge workshop leads to two car garage. Outdoor living is at its best in the gorgeous yard, complete with patio and shed More...

8. 1991-09-09
   soldstatus $900,000

ⓘ 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: $7,972 · $664/mo
• Projected year-2 tax: $9,335 · $778/mo
• Expected delta: +$1,363/yr (+$114/mo · 17.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,997
• − Mortgage interest: −$28,002
• − Property taxes: −$7,972
• − Insurance: −$2,500
• − Repairs & maintenance: −$2,480
• − Management: −$2,480
• − Depreciation: −$14,543
• Taxable loss: −$26,979
• Est. tax savings @ 24.0%: +$6,475
• After-tax cash flow: $-10,967/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: Avon School District
• NCES district ID: 0900120
• Math proficiency: 64% ▼ -10.00%
• Reading proficiency: 77% ▼ -2.00%
• Median HH income: $114,198
• Composite: 65.87/100
• National rank: #447
• State rank: #11 of 153 in CT

Livability — Collinsville

• Score: 79/100
• State rank: #28
• US rank: #2040

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 19,157

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Asian 15% Two or more races 6% Hispanic / Latino 5% Black 2%
• Common ancestry: Romanian 9% Lithuanian 3% Italian 2%
• Foreign-born: 17% · South Korea, Canada, China
• Languages at home: 79% English-only · Other Indo-European 8% Other Asian/Pacific 5% Korean 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: ▼ -147.48%
• Current HPI: 174.8885
• 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

-44.5% since first listed

8 events — show timeline

• 2026-05-12 Pending — Smart MLS
• 2026-04-23 Contingent — Smart MLS
• 2026-04-20 Listed $499,900 Smart MLS
• 2026-04-10 Coming Soon $499,900 Smart MLS
• 2020-09-02 Sold (Public Records) $315,000 Public Records
• 2020-08-28 Sold (MLS) $315,000 Smart MLS
• 2020-07-07 Listed $309,000 Smart MLS
• 1991-09-09 Sold (Public Records) $900,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $7,972 · +3.7% YoY. Source: county tax records.