18 Tabshey Ct #18 · Wethersfield, CT 06109

$225,000

2 bd · 2.5 ba · 1,534 sqft · Condo · 32 Days on market

Built 1985 Average condition $147/sqft · 22% below area Est $287k · 22% under $519/mo HOA · 20% of rent

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +11.7/30.0
• 1% rule +6.3/10.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Highest & best offers due 5/20 @6pm * * Located within a peaceful and well-maintained community, this spacious, original owner 3-level townhouse offers warmth, comfort, and flexible living throughout. From cozy evenings by the fireplace to quiet mornings spent on the private balcony, every space in this home was designed to be enjoyed. The open living and dining area feels bright and welcoming, with sliders that fill the room with natural light and lead directly outside. The updated eat-in kitchen creates a comfortable space for everyday meals and conversation, while the lower-level partially finished walk out basement offers flexibility for a family room, home office, movie ro

Key facts

• Private balcony
• Walk-in closet
• New windows

Tags

• PRIVATE BALCONY
• UPDATED EAT-IN KITCHEN
• WALK-IN CLOSET
• NEW WINDOWS
• NEWER CENTRAL AIR

Property features AI

Finance

• Financial info: Part of a 33-unit community
• HOA & community: Homeowners association with monthly fee; HOA fee includes grounds maintenance, trash pickup, snow removal, water and sewer; Pets allowed per HOA restrictions; Professional on-site property management

Exterior

• Parking: Under-house garage; 1 garage space
• Utilities: Public water; Public sewer; Natural gas hot water (40 gallon tank); Storm doors and storm windows
• Home design: Condominium (Condo/Co-Op for sale); Part of a complex named Tabshey
• Construction: Frame construction
• Exterior features: Vinyl siding; Balcony; Gutters; Exterior lighting; Level lot

Interior

• Kitchen: Oven/Range; Microwave; Range hood; Refrigerator; Dishwasher; Garbage disposal
• Bedrooms: 2 bedrooms (located on upper level)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Hot air heating (natural gas)
• Interior features: Automatic garage door opener; Cable available; One fireplace; Basement with storage, partially finished and liveable space, full with walk-out
• Laundry & utility: Washer and dryer (upper level)

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $225k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-68 ($-811/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (4.3% below list).
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $215k (4.3% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 3.4% in Wethersfield — 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 78/100 on livability (#37 in CT, #2,561 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Wethersfield School District (suburban): math 41% / reading 59% proficiency, ranked #77 of 153 in CT (top 50%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Wethersfield High School (math 44% / reading 65%, grade C-, #63 of 194 statewide, top 39%, 1,151 students, 25% FRL).
• Market conditions: 100 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $215,219 (4.3% 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 32 days. Have you received any prior offers? Is the seller open to a 4% 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. 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: 1.13% ✓
• Cap rate: 5.93%
• Cash-on-cash: -1.29%
• DSCR: 0.94
• GRM: 7.4

CMA / ARV

• ARV (median comp): $287,311
• List price: $225,000
• Delta: -21.69%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -18.2%
• Equity multiple: 0.36×
• Total profit: $-40,407
• Equity at exit: $33,548

10-year hold

• IRR: -10.1%
• Equity multiple: 0.38×
• Total profit: $-39,278
• Equity at exit: $19,454

Cash invested: $63,000 (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 06109

• Home prices YoY: -33.1%
• Active inventory: 100
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,540 medium
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$519
• Vacancy / Maint / Mgmt: −$533
• Net cashflow: $-68

Break-even live

Break-even rent $2,625

Max offer price $215,219

Occupancy floor 98%

Sensitivity live

Price	-10% $88	-5% $10	+0% $-68	+5% $-145	+10% $-223
Rent	-10% $-268	-5% $-168	+0% $-68	+5% $33	+10% $133
Rate	-1.0pp $46	-0.5pp $-10	base $-68	+0.5pp $-126	+1.0pp $-185

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
97 Bates St Hartford, CT	3.0	2.0	2240	$2,900	$1.29	3d	1	0.70mi
79 Village Dr Wethersfield, CT	1.0–2.0	1.0–2.0	1002	$2,688	$2.68	3d	13	0.71mi
13 Wilcox St Unit First Floor Wethersfield, CT	2.0	1.0	1052	$1,975	$1.88	3d	1	1.17mi
383 Wells Rd Wethersfield, CT	3.0	2.0	1518	$2,950	$1.94	45d	1	1.31mi

HOA detail condo

• Monthly dues: $519 · $6,228/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-16
   statusdays on market $225,000 Under Contract 32 DOM
2. 2026-06-15
   days on market $225,000 Under Contract - Continue to Show 31 DOM
3. 2026-06-13
   days on market $225,000 Under Contract - Continue to Show 29 DOM
4. 2026-06-13
   days on market $225,000 Under Contract - Continue to Show 28 DOM
5. 2026-06-10
   days on market $225,000 Under Contract - Continue to Show 26 DOM
6. 2026-06-09
   days on market $225,000 Under Contract - Continue to Show 25 DOM
7. 2026-06-08
   days on market $225,000 Under Contract - Continue to Show 24 DOM
8. 2026-06-07
   days on market $225,000 Under Contract - Continue to Show 23 DOM
9. 2026-06-05
   days on market $225,000 Under Contract - Continue to Show 20 DOM
10. 2026-06-03
    days on market $225,000 Under Contract - Continue to Show 19 DOM
11. 2026-06-02
    days on market $225,000 Under Contract - Continue to Show 18 DOM
12. 2026-06-01
    days on market $225,000 Under Contract - Continue to Show 17 DOM
13. 2026-05-31
    days on market $225,000 Under Contract - Continue to Show 16 DOM
14. 2026-05-15
    listed $225,000 Active 1464-char remark

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

Taxation est. · year 1

• Rental income: $30,476
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,438
• − Management: −$2,438
• − HOA: −$6,228
• − Depreciation: −$6,545
• Taxable loss: −$4,277
• Est. tax savings @ 24.0%: +$1,027
• After-tax cash flow: $215/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.

Condition & rehab AI · 30 photos

Average 55/100 Moderate rehab

This 3-level townhouse is in average condition with moderate rehab needed. The kitchen and bathrooms are outdated and require major repairs. The home has good curb appeal and is located in a peaceful community.

Repairs flagged

• Major kitchen cabinets — outdated and in poor condition
• Major bathroom cabinets — outdated and in poor condition
• Minor kitchen appliances — checkered wallpaper

Value-add opportunities

• Resale update kitchen cabinets and appliances — modernizing the kitchen would attract more buyers
• Resale update bathrooms with new fixtures and cabinets — modernizing the bathrooms would attract more buyers
• Both paint interior walls — improving the interior walls would make the home more appealing
• Both replace carpeting with hardwood floors — hardwood floors would increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · outdated and in poor condition	Major	$15,000–50,000
bathroom cabinets · outdated and in poor condition	Major	$15,000–50,000
kitchen appliances · checkered wallpaper	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale update kitchen cabinets and appliances — modernizing the kitchen would attract more buyers ↑
• Resale update bathrooms with new fixtures and cabinets — modernizing the bathrooms would attract more buyers ↑
• Both paint interior walls — improving the interior walls would make the home more appealing ↑
• Both replace carpeting with hardwood floors — hardwood floors would increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Wethersfield School District
• NCES district ID: 0905070
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $75,452
• Composite: 45.15/100
• National rank: #2678
• State rank: #77 of 153 in CT

Livability — Wethersfield

• Score: 78/100
• State rank: #37
• US rank: #2561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wethersfield, CT
• County: Hartford County · 754,208 people
• City population: 27,250
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 27,250
• Household income: $126,806
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 335.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 13% Two or more races 6% Asian 5% Black 3%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Romanian 9% Lithuanian 3% Russian 2%
• Foreign-born: 15% · Canada, China, Jamaica
• Languages at home: 76% English-only · Other Indo-European 9% Spanish 8% Russian/Polish/Slavic 4%

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: ▼ -123.77%
• Current HPI: 250.0934
• 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

3 events — show timeline

• 2026-06-16 Pending — Smart MLS
• 2026-05-22 Contingent — Smart MLS
• 2026-05-15 Listed $225,000 Smart MLS