227 Burgundy Hill Ln #227 · Middletown, CT 06457

$140,000

2 bd · 1.0 ba · 875 sqft · Condo · 95 Days on market

Built 1987 $160/sqft · at area comps Est $135k · at est. $474/mo HOA · 27% 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 +11.1/30.0
• 1% rule +7.5/10.0
• ARV discount +5.8/15.0
• Livability +4.0/5.0
• DSCR +3.2/10.0
• Schools +3.0/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Second Floor Townhouse style condo conveniently located in Middletown's Westfield area. Unit features 2 bedrooms, large living with vaulted ceilings, additional loft space could be used as 3rd bed or office space, in unit laundry, exterior storage closet, and balcony. Condo complex features inground pool, and is on direct access to the areas walking/biking trails, city bus line, and just minutes from I-91 & Route 9, great for commuting. Great alternative to renting.

Key facts

• City bus line
• Inground pool
• In unit laundry

Tags

• TOWNHOUSE STYLE CONDO
• IN UNIT LAUNDRY
• EXTERIOR STORAGE CLOSET
• INGROUND POOL
• WALKING BIKING TRAILS
• CITY BUS LINE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-57 ($-689/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (5.9% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.8% 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.
• Middletown School District (urban): math 24% / reading 44% proficiency, ranked #113 of 153 in CT (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 143 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,400 (9.0% 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 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. 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: 1.25% ✓
• Cap rate: 5.80%
• Cash-on-cash: -1.76%
• DSCR: 0.92
• GRM: 6.7

CMA / ARV

• ARV (median comp): $134,846
• List price: $140,000
• Delta: 3.82%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.22% rent growth · sell at horizon

5-year hold

• IRR: -23.8%
• Equity multiple: 0.21×
• Total profit: $-30,792
• Equity at exit: $20,874

10-year hold

• IRR: -38.0%
• Equity multiple: -0.24×
• Total profit: $-48,737
• Equity at exit: $12,105

Cash invested: $39,200 (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 06457

• Rents YoY: 0.2%
• Active inventory: 143
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,752 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$474
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $-57

Break-even live

Break-even rent $1,825

Max offer price $131,696

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Burgundy Hill Ln #20 Middletown, CT	1.0	1.0	563	$1,400	$2.49	43d	1	0.02mi
20 Burgundy Hill Ln Middletown, CT	1.0	1.0	700	$1,600	$2.29	16d	1	0.02mi
195 Burgundy Hill Ln #195 Middletown, CT	1.0	1.0	576	$1,290	$2.24	43d	1	0.06mi
184 Burgundy Hill Ln #184 Middletown, CT	1.0	1.0	576	$1,500	$2.60	43d	1	0.06mi
161 Burgundy Hill Ln #161 Middletown, CT	1.0	1.0	727	$1,400	$1.93	11d	1	0.08mi
135 Burgundy Hill Ln #135 Middletown, CT	1.0	1.0	563	$1,350	$2.40	16d	1	0.11mi
135 Burgundy Hill Ln Middletown, CT	1.0	1.0	700	$1,600	$2.29	16d	1	0.11mi
104 Burgundy Hill Ln #104 Middletown, CT	2.0	1.0	708	$1,650	$2.33	16d	1	0.14mi
57 Burgundy Hill Ln #57 Middletown, CT	2.0	1.0	702	$1,700	$2.42	43d	1	0.16mi
100 Town Brooke Middletown, CT	1.0–2.0	1.0–2.0	813	$2,338	$2.88	1d	16	0.19mi
1 Dove Ln Unit LD2-162D Middletown, CT	2.0	2.0	990	$1,865	$1.88	19d	1	0.48mi
1 Dove Ln Unit UD4-094D Middletown, CT	2.0	1.0	837	$1,809	$2.16	2d	1	0.48mi
1 Dove Ln Unit UD3-063D Middletown, CT	1.0	1.0	719	$1,787	$2.49	2d	1	0.48mi
1 Dove Ln Unit UD1-004D Middletown, CT	1.0	1.0	819	$1,774	$2.17	43d	1	0.48mi
1 Dove Ln Unit RC4-080R Middletown, CT	1.0	1.0	719	$1,694	$2.36	43d	1	0.48mi
1 Dove Ln Unit NW1-007N Middletown, CT	2.0	1.0	837	$1,735	$2.07	19d	1	0.48mi
1 Dove Ln Unit LD3-176D Middletown, CT	1.0	1.0	719	$1,827	$2.54	2d	1	0.48mi
1 Dove Ln Unit NW2-040N Middletown, CT	1.0	1.0	819	$1,754	$2.14	43d	1	0.48mi
1 Dove Ln Unit RC1-022R Middletown, CT	1.0	1.0	819	$1,534	$1.87	43d	1	0.48mi
1 Dove Ln Unit LD1-117D Middletown, CT	1.0	1.0	719	$1,732	$2.41	2d	1	0.48mi
1 Dove Ln Unit UD2-035D Middletown, CT	2.0	2.0	990	$1,798	$1.82	21d	1	0.48mi
1 Dove Ln Unit UD2-040D Middletown, CT	2.0	2.0	990	$1,840	$1.86	43d	1	0.48mi
1 Dove Ln Unit RC2-038R Middletown, CT	1.0	1.0	719	$1,584	$2.20	43d	1	0.48mi
1 Dove Ln Unit NW1-018N Middletown, CT	2.0	1.0	837	$1,875	$2.24	19d	1	0.48mi
1 Dove Ln Unit LD2-142D Middletown, CT	2.0	2.0	990	$1,913	$1.93	14d	1	0.48mi
1 Dove Ln Unit LD2-152D Middletown, CT	2.0	2.0	969	$1,820	$1.88	43d	1	0.48mi
1 Dove Ln Unit RC2-045R Middletown, CT	1.0	1.0	719	$1,699	$2.36	43d	1	0.48mi
1 Dove Ln Unit LD2-141D Middletown, CT	2.0	2.0	990	$1,848	$1.87	14d	1	0.48mi
1 Dove Ln Unit NW2-036N Middletown, CT	1.0	1.0	819	$1,748	$2.13	11d	1	0.48mi
5 Town Colony Dr Middletown, CT	1.0–3.0	1.0–2.0	1135	$2,373	$2.09	1d	15	0.49mi
1 Dove Ln Unit NW1-002N Middletown, CT	2.0	1.0	837	$1,877	$2.24	3d	1	0.54mi
1 Dove Ln Unit UD2-044D Middletown, CT	2.0	2.0	990	$1,613	$1.63	10d	1	0.54mi
1 Dove Ln Unit NW2-044N Middletown, CT	1.0	1.0	819	$1,662	$2.03	2d	1	0.54mi
1 Dove Ln Unit RC3-071R Middletown, CT	2.0	2.0	990	$1,805	$1.82	19d	1	0.54mi
3 Forest Glen Cir #16 Middletown, CT	2.0	2.0	1065	$1,900	$1.78	43d	1	0.60mi
100 Town Rdg Middletown, CT	1.0–3.0	1.0–2.0	1017	$2,297	$2.26	1d	16	0.61mi
150 Country Squire Dr Cromwell, CT	1.0–2.0	1.0–2.0	1037	$2,950	$2.84	1d	5	0.64mi
50 Carriage Crossing Ln Unit 50 Middletown, CT	2.0	2.0	866	$1,950	$2.25	11d	1	0.89mi
279 Carriage Crossing Ln #279 Middletown, CT	2.0	2.0	866	$2,200	$2.54	16d	1	1.06mi
2000 Cromwell Hills Dr Unit 2107 Cromwell, CT	2.0	1.5	1057	$1,975	$1.87	23d	1	1.22mi

HOA detail condo

• Monthly dues: $474 · $5,688/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-05-15
   status Under Contract 474-char remark

   Show marketing remark (474 chars)

   Second Floor Townhouse style condo conveniently located in Middletown's Westfield area. Unit features 2 bedrooms, large living with vaulted ceilings, additional loft space could be used as 3rd bed or office space, in unit laundry, exterior storage closet, and balcony. Condo complex features inground pool, and is on direct access to the areas walking/biking trails, city bus line, and just minutes from I-91 & Route 9, great for commuting. Great alternative to renting.

2. 2026-04-06
   price $140,000 474-char remark

   Show marketing remark (474 chars)

   Second Floor Townhouse style condo conveniently located in Middletown's Westfield area. Unit features 2 bedrooms, large living with vaulted ceilings, additional loft space could be used as 3rd bed or office space, in unit laundry, exterior storage closet, and balcony. Condo complex features inground pool, and is on direct access to the areas walking/biking trails, city bus line, and just minutes from I-91 & Route 9, great for commuting. Great alternative to renting.

3. 2026-02-09
   listed $149,900 Active 474-char remark

   Show marketing remark (474 chars)

   Second Floor Townhouse style condo conveniently located in Middletown's Westfield area. Unit features 2 bedrooms, large living with vaulted ceilings, additional loft space could be used as 3rd bed or office space, in unit laundry, exterior storage closet, and balcony. Condo complex features inground pool, and is on direct access to the areas walking/biking trails, city bus line, and just minutes from I-91 & Route 9, great for commuting. Great alternative to renting.

4. 2023-08-17
   soldstatus $120,000 Closed 333-char remark

   Show marketing remark (333 chars)

   Fantastic 2 bedroom unit with a loft that can be used as an additional bedroom, home office, entertainment room or the sky is the limit. Great storage space. Cozy balcony off the living room with some additional locked storage great for morning coffee or a get together with some friends. Just move right in and enjoy your new space.

5. 2023-08-16
   status Under Contract 333-char remark

   Show marketing remark (333 chars)

   Fantastic 2 bedroom unit with a loft that can be used as an additional bedroom, home office, entertainment room or the sky is the limit. Great storage space. Cozy balcony off the living room with some additional locked storage great for morning coffee or a get together with some friends. Just move right in and enjoy your new space.

6. 2023-07-29
   historical Under Contract - Continue to Show 333-char remark

   Show marketing remark (333 chars)

   Fantastic 2 bedroom unit with a loft that can be used as an additional bedroom, home office, entertainment room or the sky is the limit. Great storage space. Cozy balcony off the living room with some additional locked storage great for morning coffee or a get together with some friends. Just move right in and enjoy your new space.

7. 2023-07-23
   listed $109,900 Active 333-char remark

   Show marketing remark (333 chars)

   Fantastic 2 bedroom unit with a loft that can be used as an additional bedroom, home office, entertainment room or the sky is the limit. Great storage space. Cozy balcony off the living room with some additional locked storage great for morning coffee or a get together with some friends. Just move right in and enjoy your new space.

8. 2015-07-21
   soldstatus $63,000
9. 2015-05-13
   historical
10. 2015-04-15
    listed $54,900
11. 2014-09-23
    historical
12. 2014-07-08
    listed $54,500
13. 2008-02-29
    soldstatus $113,000
14. 2008-01-21
    listed $119,900
15. 2004-07-19
    soldstatus $71,900
16. 2004-05-11
    listed $69,900

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 15 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: $21,025
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,682
• − Management: −$1,682
• − HOA: −$5,688
• − Depreciation: −$4,073
• Taxable loss: −$2,742
• Est. tax savings @ 24.0%: +$658
• After-tax cash flow: $-31/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: Middletown School District
• NCES district ID: 0902490
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $60,733
• Composite: 30.47/100
• National rank: #6224
• State rank: #113 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

• Census place: Middletown, CT
• County: Middlesex County · 63,941 people
• City population: 46,720
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 46,720
• Household income: $79,463
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 2196.0

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 13% Hispanic / Latino 12% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7%
• Common ancestry: Romanian 9% Lithuanian 5% Slovak 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 4% 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: ▼ -470.20%
• Current HPI: 255.1597
• Rent YoY: ▲ 0.22%
• 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

+100.3% since first listed

16 events — show timeline

• 2026-05-15 Pending — Smart MLS
• 2026-04-06 Price Changed $140,000 Smart MLS
• 2026-02-09 Listed $149,900 Smart MLS
• 2023-08-17 Sold (MLS) $120,000 Smart MLS
• 2023-08-16 Pending — Smart MLS
• 2023-07-29 Contingent — Smart MLS
• 2023-07-23 Listed $109,900 Smart MLS
• 2015-07-21 Sold (MLS) $63,000 Smart MLS
• 2015-05-13 Listing Removed — Smart MLS
• 2015-04-15 Listed $54,900 Smart MLS
• 2014-09-23 Listing Removed — Smart MLS
• 2014-07-08 Listed $54,500 Smart MLS
• 2008-02-29 Sold (MLS) $113,000 Smart MLS
• 2008-01-21 Listed $119,900 Smart MLS
• 2004-07-19 Sold (MLS) $71,900 Smart MLS
• 2004-05-11 Listed $69,900 Smart MLS