87 Leafwood Ln #233 · Conning Towers-Nautilus Park, CT 06340

$139,000

1 bd · 1.0 ba · 714 sqft · Condo public records · 5 Days on market

Built 1989 $288/mo HOA · 16% of rent

---

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).

• Cash flow +20.3/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Winding Hollow condominium offers pool, club house, tennis courts great investment to build sweat equity Needs total renovation including air and heating system. 1 st floor unit Galley kitchen has breakfast counter . Kitchen extends to utility room with washer and dryer and additional space for a pantry or extra storage. Bedroom ensuite with spacious walk-in closet, vanity and full bathroom. A wood burning fireplace is a central feature of the living/dining room open floor plan. outdoor patio accessed through living room sliders. Discover convenient and modern living at Winding Hollow while enjoying the swimming pool and clubhouse amenities. Just a short walk to club house and pool Say goo

Key facts

• Utility room
• Galley kitchen
• Swimming pool

Tags

• SWIMMING POOL
• CLUB HOUSE
• TENNIS COURTS
• GALLEY KITCHEN
• BREAKFAST COUNTER
• UTILITY ROOM

Property features AI

Finance

• Other: Unit is on first floor of a building with 102 total units
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee of $288; Association covers clubhouse, grounds maintenance, trash pickup, snow removal, property management, pool service and road maintenance; Professionally managed off-site; Pets allowed with restrictions (check association rules)

Exterior

• Parking: Assigned parking (1 space)
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Condominium unit; Located in the Winding Hollow complex
• Construction: Frame construction
• Exterior features: Vinyl siding; Balcony; In-ground swimming pool (community)

Interior

• Bedrooms: One bedroom (located on one level)
• Bathrooms: One full bathroom
• Heating & cooling: Electric hot air heating; Central air
• Interior features: Central air conditioning; One fireplace; Main-level laundry; No basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $139k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Groton School District (suburban): math 32% / reading 50% proficiency, ranked #96 of 153 in CT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.8%/yr); 92 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $80k; list at $139k implies a 74% gain — meaningful room to come down on a strong offer.

Recommended offer $139,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.29% ✓
• Cap rate: 7.84%
• Cash-on-cash: 5.53%
• DSCR: 1.25
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.75% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.75×
• Total profit: $-9,547
• Equity at exit: $20,725

10-year hold

• IRR: 4.3%
• Equity multiple: 1.33×
• Total profit: $12,874
• Equity at exit: $12,018

Cash invested: $38,920 (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 06340

• Home prices YoY: -27.9%
• Rents YoY: 3.8%
• Active inventory: 92
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,795 high
• Mortgage (P&I): −$729
• Tax from tax record: −$164 /mo · $1,963/yr
• Insurance: −$58
• HOA: −$288
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $179

Break-even live

Break-even rent $1,568

Max offer price $139,000

Occupancy floor 85%

Sensitivity live

Price	-10% $258	-5% $219	+0% $179	+5% $140	+10% $101
Rent	-10% $37	-5% $108	+0% $179	+5% $250	+10% $321
Rate	-1.0pp $249	-0.5pp $215	base $179	+0.5pp $143	+1.0pp $107

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Chase Oak Ct #2 Groton, CT	1.0	1.0	714	$1,900	$2.66	45d	1	0.09mi
135 Gold Star Hwy Groton, CT	1.0	1.0	540	$1,795	$3.32	14d	22	0.55mi
99 Gold Star Hwy Apt 26 Groton, CT	—	1.0	528	$1,825	$3.46	22d	1	0.61mi
99 Gold Star Hwy Apt 89 Groton, CT	—	1.0	528	$1,809	$3.43	22d	1	0.61mi
359 Long Hill Rd Groton, CT	1.0	1.0	625	$1,550	$2.48	45d	1	0.85mi
1 Triton Sq Groton, CT	2.0	1.0–2.0	911	$2,860	$3.14	14d	40	0.98mi
300 Michelle Ln Groton, CT	1.0–2.0	1.0–2.0	890	$1,620	$1.82	13d	1	1.08mi
278 Meridian St Groton, CT	2.0	1.0	715	$1,784	$2.50	14d	12	1.08mi
13 Fieldside Dr Groton, CT	1.0	1.0	650	$1,550	$2.38	45d	1	1.28mi

HOA detail condo

• Monthly dues: $288 · $3,456/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-05-15
   status Under Contract
2. 2026-05-08
   listed $139,000 Active
3. 1988-12-23
   soldstatus $79,900

ⓘ 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: $1,963 · $164/mo
• Projected year-2 tax: $2,469 · $206/mo
• Expected delta: +$506/yr (+$42/mo · 25.8%)

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

Taxation est. · year 1

• Rental income: $21,534
• − Mortgage interest: −$7,786
• − Property taxes: −$1,963
• − Insurance: −$695
• − Repairs & maintenance: −$1,723
• − Management: −$1,723
• − HOA: −$3,456
• − Depreciation: −$4,044
• Taxable income: $145
• Est. tax owed @ 24.0%: −$35
• After-tax cash flow: $2,116/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: Groton School District
• NCES district ID: 0901770
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $60,709
• Composite: 36.28/100
• National rank: #4702
• State rank: #96 of 153 in CT

Livability — Conning Towers-Nautilus Park

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: New London County · 147,197 people
• Metro: Norwich-New London, CT
• Population (ZIP): 29,863
• Household income: $81,792
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 1710.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 11% Asian 7% Black 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 87% English-only · Spanish 6% Tagalog/Filipino 2% Other Indo-European 2%

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: ▼ -97.61%
• Current HPI: 252.846
• Rent YoY: ▲ 3.75%
• Metro: Norwich-New London, 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

+74.0% since first listed

3 events — show timeline

• 2026-05-15 Pending — Smart MLS
• 2026-05-08 Listed $139,000 Smart MLS
• 1988-12-23 Sold (Public Records) $79,900 Public Records

Property tax history

+1.9%/yr

Latest (2022): $1,963 · +22.5% YoY. Source: county tax records.