7 Tolland Tpke · Crystal Lake, CT 06279

$449,999

4 bd · 4.0 ba · 2,275 sqft · MultiFamily public records · 44 Days on market

Built 1900 0.66 ac lot

---

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 +28.9/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Multi Family with 3 units only 8 minutes from UConn University! Fantastic opportunity to cash in on high rents. Located adjacent to open spaces and parks many updates have been done. There are a few updates needed but this potential cash cow is almost ready to go! Also comes with a large garage and another outbuilding for storage or other rental possibilities. Lots of upside and money-making opportunity here.

Key facts

• Newer kitchens
• Ample parking
• Newer appliances

Tags

• NEW ROOF
• NEW HOT WATER HEATERS
• NEWER KITCHENS
• NEWER APPLIANCES
• FULL BASEMENT
• AMPLE PARKING

Property features AI

Exterior

• Parking: Paved and unpaved areas with driveway (shared driveway); Total of 8 parking spaces
• Utilities: Private well water; Septic sewage; Fuel tank located in the basement
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Vinyl siding; Asphalt shingle roof; Concrete and stone foundation; Blue exterior color
• Exterior features: Deck and covered deck; Garden area; Grill; Some wetlands on the lot; Lightly wooded setting; Walk to water

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 4 full bathrooms
• Heating & cooling: Heat pump and hot water heating; Heating fuel: electric and oil; Split system and window unit cooling; 40-gallon electric hot water tank
• Interior features: 11 total rooms; Full, unfinished shared basement with storage, concrete floor and walk-out; Thermostat(s) for home automation
• Laundry & utility: Common laundry area in the basement

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/4.0-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $507/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $450k).
• Recommended offer: $436k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 2.5% in Crystal Lake — 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 68/100 on livability (#110 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Willington School District (rural): math 36% / reading 53% proficiency, ranked #90 of 153 in CT (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Center School (math 37% / reading 47%, grade F, #285 of 553 statewide, top 53%, 222 students, 45% FRL) — zoned schools average 45% FRL vs 14% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 28 active listings in the ZIP; 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 $14k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $126k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 19y ago; this cycle's ask has dropped $75k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; list at $450k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $436,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
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: 1.23% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.48%
• DSCR: 1.64
• GRM: 6.8

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: 4.9%
• Equity multiple: 1.19×
• Total profit: $23,833
• Equity at exit: $67,096

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $145,121
• Equity at exit: $38,908

Cash invested: $126,000 (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 06279

• Home prices YoY: -4.5%
• Active inventory: 28
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $5,529 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$300 /mo · $3,603/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,161
• Net cashflow: $1,520

Break-even live

Break-even rent $3,605

Max offer price $449,999

Occupancy floor 68%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	5	4	$5,529
Total (3 units)			$5,529

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 46 events

1. 2026-06-07
   statusdays on market $449,999 Under Contract 44 DOM
2. 2026-06-05
   days on market $449,999 Active 42 DOM
3. 2026-06-03
   days on market $449,999 Active 40 DOM
4. 2026-06-02
   days on market $449,999 Active 39 DOM
5. 2026-06-01
   days on market $449,999 Active 38 DOM
6. 2026-05-31
   days on market $449,999 Active 37 DOM
7. 2026-05-31
   days on market $449,999 Active 36 DOM
8. 2026-05-21
   status Active
9. 2026-05-13
   status Under Contract
10. 2026-04-28
    price $449,999
11. 2026-04-21
    price $484,999
12. 2026-04-17
    listed $524,999 Active
13. 2026-01-26
    historical $1,200
14. 2026-01-13
    listed $1,200
15. 2024-08-28
    historical $1,100
16. 2024-08-22
    price $1,100
17. 2024-08-21
    listed $1,200
18. 2022-02-04
    soldstatus $140,000 Closed 412-char remark

    Show marketing remark (412 chars)

    Multi Family with 3 units only 8 minutes from UConn University! Fantastic opportunity to cash in on high rents. Located adjacent to open spaces and parks many updates have been done. There are a few updates needed but this potential cash cow is almost ready to go! Also comes with a large garage and another outbuilding for storage or other rental possibilities. Lots of upside and money-making opportunity here.

19. 2021-12-15
    price $149,900 412-char remark

    Show marketing remark (412 chars)

    Multi Family with 3 units only 8 minutes from UConn University! Fantastic opportunity to cash in on high rents. Located adjacent to open spaces and parks many updates have been done. There are a few updates needed but this potential cash cow is almost ready to go! Also comes with a large garage and another outbuilding for storage or other rental possibilities. Lots of upside and money-making opportunity here.

20. 2021-11-12
    price $159,900 412-char remark

    Show marketing remark (412 chars)

    Multi Family with 3 units only 8 minutes from UConn University! Fantastic opportunity to cash in on high rents. Located adjacent to open spaces and parks many updates have been done. There are a few updates needed but this potential cash cow is almost ready to go! Also comes with a large garage and another outbuilding for storage or other rental possibilities. Lots of upside and money-making opportunity here.

21. 2021-10-11
    listed $169,900 Active 412-char remark

    Show marketing remark (412 chars)

    Multi Family with 3 units only 8 minutes from UConn University! Fantastic opportunity to cash in on high rents. Located adjacent to open spaces and parks many updates have been done. There are a few updates needed but this potential cash cow is almost ready to go! Also comes with a large garage and another outbuilding for storage or other rental possibilities. Lots of upside and money-making opportunity here.

22. 2021-07-15
    historical
23. 2021-07-09
    listed $299,500 Active
24. 2021-04-09
    historical
25. 2021-03-24
    price $199,000
26. 2021-03-06
    price $205,000
27. 2021-03-05
    status Active
28. 2021-01-26
    historical
29. 2021-01-25
    listed $190,000 Active
30. 2020-04-19
    historical
31. 2020-01-16
    price $174,900
32. 2019-11-09
    price $179,000
33. 2019-10-19
    listed $189,000 Active
34. 2018-02-06
    soldstatus $165,000
35. 2018-02-01
    historical
36. 2017-04-20
    listed $174,900
37. 2015-12-02
    soldstatus $90,000
38. 2015-09-16
    historical
39. 2015-08-27
    listed $100,000
40. 2011-11-29
    historical
41. 2011-09-08
    listed $154,900
42. 2011-08-31
    historical
43. 2011-02-28
    listed $183,000
44. 2007-11-18
    historical
45. 2007-07-19
    listed $269,900
46. 2003-06-23
    soldstatus $148,000

ⓘ 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: $3,603 · $300/mo
• Projected year-2 tax: $6,616 · $551/mo
• Expected delta: +$3,013/yr (+$251/mo · 83.6%)

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

Taxation est. · year 1

• Rental income: $66,348
• − Mortgage interest: −$25,207
• − Property taxes: −$3,603
• − Insurance: −$2,250
• − Repairs & maintenance: −$5,308
• − Management: −$5,308
• − Depreciation: −$13,091
• Taxable income: $11,582
• Est. tax owed @ 24.0%: −$2,780
• After-tax cash flow: $15,464/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: Willington School District
• NCES district ID: 0905100
• Math proficiency: 36% ▼ -20.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $68,267
• Composite: 39.91/100
• National rank: #3851
• State rank: #90 of 153 in CT

Livability — Crystal Lake

• Score: 68/100
• State rank: #110
• US rank: #9618

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,563

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Asian 7% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 11% Romanian 8% Serbian 3%
• Foreign-born: 9% · China, Canada
• Languages at home: 92% English-only · Tagalog/Filipino 2% Spanish 2% Chinese 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: ▼ -12.63%
• Current HPI: 270.5381
• 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

+204.1% since first listed

39 events — show timeline

• 2026-05-21 Relisted — Smart MLS
• 2026-05-13 Pending — Smart MLS
• 2026-04-28 Price Changed $449,999 Smart MLS
• 2026-04-21 Price Changed $484,999 Smart MLS
• 2026-04-17 Listed $524,999 Smart MLS
• 2026-01-26 Rental Removed $1,200 SMARTMLS
• 2026-01-13 Listed for Rent $1,200 SMARTMLS
• 2024-08-28 Rental Removed $1,100 SMARTMLS
• 2024-08-22 Price Changed $1,100 SMARTMLS
• 2024-08-21 Listed for Rent $1,200 SMARTMLS
• 2022-02-04 Sold (MLS) $140,000 Smart MLS
• 2021-12-15 Price Changed $149,900 Smart MLS
• 2021-11-12 Price Changed $159,900 Smart MLS
• 2021-10-11 Listed $169,900 Smart MLS
• 2021-07-15 Listing Removed — Smart MLS
• 2021-07-09 Listed $299,500 Smart MLS
• 2021-04-09 Listing Removed — Smart MLS
• 2021-03-24 Price Changed $199,000 Smart MLS
• 2021-03-06 Price Changed $205,000 Smart MLS
• 2021-03-05 Relisted — Smart MLS
• 2021-01-26 Listing Removed — Smart MLS
• 2021-01-25 Listed $190,000 Smart MLS
• 2020-04-19 Listing Removed — Smart MLS
• 2020-01-16 Price Changed $174,900 Smart MLS
• 2019-11-09 Price Changed $179,000 Smart MLS
• 2019-10-19 Listed $189,000 Smart MLS
• 2018-02-06 Sold (MLS) $165,000 Smart MLS
• 2018-02-01 Listing Removed — Smart MLS
• 2017-04-20 Listed $174,900 Smart MLS
• 2015-12-02 Sold (MLS) $90,000 Smart MLS
• 2015-09-16 Listing Removed — Smart MLS
• 2015-08-27 Listed $100,000 Smart MLS
• 2011-11-29 Listing Removed — Smart MLS
• 2011-09-08 Listed $154,900 Smart MLS
• 2011-08-31 Listing Removed — Smart MLS
• 2011-02-28 Listed $183,000 Smart MLS
• 2007-11-18 Listing Removed — Smart MLS
• 2007-07-19 Listed $269,900 Smart MLS
• 2003-06-23 Sold (Public Records) $148,000 Public Records

Property tax history

+1.5%/yr

Latest (2023): $3,603 · +2.9% YoY. Source: county tax records.