105 Horse Pond Rd Unit A · Oxoboxo River, CT 06420

$115,000

1 bd · 1.0 ba · 714 sqft · Condo public records · 86 Days on market

Built 1989 $406/mo HOA · 20% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Country living in Salem at an unbeatable price! First floor end/corner unit unit condo with 1 bedroom and 1 full bathroom. Bedroom is spacious and light with 2 windows . Shared laundry and storage in basement. Pets are allowed that meet condo association guidelines, 2 cats or 1 dog 20" to shoulder at maturity. Conveniently located close to Route 85 with an easy commute to the shoreline or Hartford.

Key facts

• Common laundry area
• End unit
• Open layout

Tags

• END UNIT
• OPEN LAYOUT
• NEWER HOT WATER HEATER
• SHARED BASEMENT
• COMMON LAUNDRY AREA
• LARGE PRIVATE STORAGE UNITS

Property features AI

Finance

• Other: Located in Connecticut (New London County); Community amenities nearby include golf course, health club, lake, medical facilities, and shopping/mall
• HOA & community: Monthly HOA fee; HOA covers grounds maintenance, trash pickup, snow removal, property management, and insurance; Professional off-site property management; Pets allowed with restrictions (see condo rules & regs)

Exterior

• Parking: Paved off-street parking in a parking lot; One parking space
• Utilities: Shared well water; Shared septic; Electric service for heat and hot water
• Home design: Condominium in a multi-unit complex (Crystal Lake); End unit; Located on first floor
• Construction: Frame construction; Blue exterior color
• Exterior features: Vinyl siding; Lightly wooded, level lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: One bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating (electric); Wall air-conditioning unit; 40-gallon electric hot water tank
• Interior features: One-level unit; Shared basement storage not available (no basement)
• Laundry & utility: Coin-operated common laundry in shared basement/storage area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 3.9% in Oxoboxo River — 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 63/100 on livability (#131 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: schools F, amenities F, commute F.
• Salem School District (rural): math 64% / reading 76% proficiency, ranked #17 of 153 in CT (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 29 active listings in the ZIP; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.76% ✓
• Cap rate: 11.01%
• Cash-on-cash: 16.84%
• DSCR: 1.75
• GRM: 4.7

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: 8.2%
• Equity multiple: 1.32×
• Total profit: $10,399
• Equity at exit: $17,147

10-year hold

• IRR: 17.6%
• Equity multiple: 2.46×
• Total profit: $47,123
• Equity at exit: $9,943

Cash invested: $32,200 (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 06420

• Home prices YoY: -10.2%
• Active inventory: 29
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,022 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$88 /mo · $1,060/yr
• Insurance: −$48
• HOA: −$406
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $452

Break-even live

Break-even rent $1,450

Max offer price $115,000

Occupancy floor 73%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $406 · $4,872/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-07
   statusdays on market $115,000 Under Contract 86 DOM
2. 2026-06-05
   days on market $115,000 Active 85 DOM
3. 2026-06-02
   days on market $115,000 Active 83 DOM
4. 2026-06-01
   days on market $115,000 Active 82 DOM
5. 2026-05-31
   days on market $115,000 Active 81 DOM
6. 2026-05-30
   days on market $115,000 Active 80 DOM
7. 2026-03-10
   listed $121,900 Active
8. 2022-09-22
   soldstatus $80,000
9. 2022-09-20
   soldstatus $80,000 Closed 406-char remark

   Show marketing remark (406 chars)

   Country living in Salem at an unbeatable price! First floor end/corner unit unit condo with 1 bedroom and 1 full bathroom. Bedroom is spacious and light with 2 windows . Shared laundry and storage in basement. Pets are allowed that meet condo association guidelines, 2 cats or 1 dog 20" to shoulder at maturity. Conveniently located close to Route 85 with an easy commute to the shoreline or Hartford.

10. 2022-07-30
    listed $79,900 Active 406-char remark

    Show marketing remark (406 chars)

    Country living in Salem at an unbeatable price! First floor end/corner unit unit condo with 1 bedroom and 1 full bathroom. Bedroom is spacious and light with 2 windows . Shared laundry and storage in basement. Pets are allowed that meet condo association guidelines, 2 cats or 1 dog 20" to shoulder at maturity. Conveniently located close to Route 85 with an easy commute to the shoreline or Hartford.

11. 2007-11-21
    soldstatus $79,000
12. 2007-11-20
    soldstatus $79,000 169-char remark

    Show marketing remark (169 chars)

    For rent or sale, which ever happens first. New windows, some new appliances, washer& dryer in basement. Ready to move in. Priced to sell. Come see it. Pets allowed.

13. 2007-09-13
    listed $81,750 169-char remark

    Show marketing remark (169 chars)

    For rent or sale, which ever happens first. New windows, some new appliances, washer& dryer in basement. Ready to move in. Priced to sell. Come see it. Pets allowed.

14. 2007-09-12
    historical
15. 2007-06-12
    listed $81,750
16. 1990-12-04
    soldstatus $44,290

ⓘ 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: $1,060 · $88/mo
• Projected year-2 tax: $1,760 · $147/mo
• Expected delta: +$700/yr (+$58/mo · 66.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $24,263
• − Mortgage interest: −$6,442
• − Property taxes: −$1,060
• − Insurance: −$575
• − Repairs & maintenance: −$1,941
• − Management: −$1,941
• − HOA: −$4,872
• − Depreciation: −$3,345
• Taxable income: $4,087
• Est. tax owed @ 24.0%: −$981
• After-tax cash flow: $4,443/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: Salem School District
• NCES district ID: 0903900
• Math proficiency: 64% ▼ -7.00%
• Reading proficiency: 76% ▼ -1.00%
• Median HH income: $97,467
• Composite: 63.86/100
• National rank: #590
• State rank: #17 of 153 in CT

Livability — Oxoboxo River

• Score: 63/100
• State rank: #131
• US rank: #15359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 10,445
• Population (ZIP): 4,323

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 4% Two or more races 4% Black 1% Asian 1%
• Common ancestry: Romanian 7% Lithuanian 5% Russian 3%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Southeastern Connecticut

• 2024 margin: D (+13.0) · D 55.6% · R 42.6% · Other 1.8%
• All cycles: 2024: D+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.50%
• Current HPI: 278.0717
• 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

+175.2% since first listed

10 events — show timeline

• 2026-03-10 Listed $121,900 Smart MLS
• 2022-09-22 Sold (Public Records) $80,000 Public Records
• 2022-09-20 Sold (MLS) $80,000 Smart MLS
• 2022-07-30 Listed $79,900 Smart MLS
• 2007-11-21 Sold (Public Records) $79,000 Public Records
• 2007-11-20 Sold (MLS) $79,000 Smart MLS
• 2007-09-13 Listed $81,750 Smart MLS
• 2007-09-12 Listing Removed — Smart MLS
• 2007-06-12 Listed $81,750 Smart MLS
• 1990-12-04 Sold (Public Records) $44,290 Public Records

Property tax history

-1.6%/yr

Latest (2022): $1,060 · +75.2% YoY. Source: county tax records.