70 Mountain Laurel Dr #70 · Wethersfield, CT 06109

$185,000

2 bd · 1.0 ba · 845 sqft · Condo · 38 Days on market

Built 1960 Good condition $465/mo HOA · 22% 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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remodeled 2 bedroom, 1 bath condo with modern finishes is move in ready. Located in one of Wethersfield's most convenient locations. Thoughtful updates throughout the home create a clean, contemporary feel while maintaining a warm and comfortable atmosphere. Brand new appliances included with sale. Heat & hot water included in monthly condo fee $465/month

Key facts

• Convenient locations
• Brand new appliances
• Thoughtful updates

Tags

• MODERN FINISHES
• THOUGHTFUL UPDATES
• BRAND NEW APPLIANCES
• CONVENIENT LOCATIONS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $185k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-59 ($-705/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (4.6% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $176k (4.6% 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: Alfred W. Hanmer School (math 47% / reading 62%, grade C, #195 of 553 statewide, top 37%, 324 students, 32% FRL); Silas Deane Middle School (math 46% / reading 62%, grade B-, #69 of 175 statewide, top 39%, 574 students, 30% FRL); Wethersfield High School (math 44% / reading 65%, grade C-, #63 of 194 statewide, top 39%, 1,151 students, 25% FRL) — zoned schools average 29% FRL vs 14% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 101 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $63k; list at $185k implies a 194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,495 (4.6% 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 38 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.15% ✓
• Cap rate: 5.91%
• Cash-on-cash: -1.36%
• DSCR: 0.94
• GRM: 7.2

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: -18.3%
• Equity multiple: 0.36×
• Total profit: $-33,404
• Equity at exit: $27,584

10-year hold

• IRR: -10.2%
• Equity multiple: 0.37×
• Total profit: $-32,616
• Equity at exit: $15,995

Cash invested: $51,800 (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: 101
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,133 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$465
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $-59

Break-even live

Break-even rent $2,207

Max offer price $176,495

Occupancy floor 98%

Sensitivity live

Price	-10% $69	-5% $5	+0% $-59	+5% $-123	+10% $-187
Rent	-10% $-227	-5% $-143	+0% $-59	+5% $25	+10% $110
Rate	-1.0pp $34	-0.5pp $-12	base $-59	+0.5pp $-107	+1.0pp $-155

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1160-1178 Silas Deane Hwy Unit 1178-319 Wethersfield, CT	1.0	1.0	756	$2,299	$3.04	45d	1	0.51mi
1802 Silas Deane Hwy Rocky Hill, CT	1.0	1.0	758	$1,718	$2.26	12d	5	0.54mi
1802 Silas Deane Hwy Rocky Hill, CT	1.0–3.0	1.0–2.0	1059	$2,570	$2.43	45d	10	0.54mi
322 Middletown Ave Unit 322 Wethersfield, CT	3.0	1.0	1100	$2,400	$2.18	23d	1	0.75mi
226 Prospect St Wethersfield, CT	2.0	1.0	950	$1,355	$1.43	18d	3	0.97mi
10 Colonial Dr Unit C Rocky Hill, CT	2.0	1.0	864	$1,635	$1.89	45d	1	1.00mi
2139 Silas Deane Hwy Rocky Hill, CT	1.0–2.0	1.0	885	$2,271	$2.57	3d	6	1.13mi
166 Bunce Rd Wethersfield, CT	3.0	1.0	1094	$2,800	$2.56	23d	1	1.23mi
1401 Harbor View Dr #1401 Rocky Hill, CT	2.0	1.0	901	$1,900	$2.11	3d	1	1.33mi

HOA detail condo

• Monthly dues: $465 · $5,580/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-05
   status Under Contract 361-char remark

   Show marketing remark (361 chars)

   Remodeled 2 bedroom, 1 bath condo with modern finishes is move in ready. Located in one of Wethersfield's most convenient locations. Thoughtful updates throughout the home create a clean, contemporary feel while maintaining a warm and comfortable atmosphere. Brand new appliances included with sale. Heat & hot water included in monthly condo fee $465/month

2. 2026-03-28
   listed $185,000 Active 361-char remark

   Show marketing remark (361 chars)

   Remodeled 2 bedroom, 1 bath condo with modern finishes is move in ready. Located in one of Wethersfield's most convenient locations. Thoughtful updates throughout the home create a clean, contemporary feel while maintaining a warm and comfortable atmosphere. Brand new appliances included with sale. Heat & hot water included in monthly condo fee $465/month

3. 2002-08-02
   soldstatus $63,000 128-char remark

   Show marketing remark (128 chars)

   First floor unit- newer windows,updated kitchen - great price heat included in condo fee. Showings have to be after 10:30 daily.

4. 2002-03-15
   listed $63,900 128-char remark

   Show marketing remark (128 chars)

   First floor unit- newer windows,updated kitchen - great price heat included in condo fee. Showings have to be after 10:30 daily.

5. 2000-06-15
   soldstatus $47,000
6. 2000-03-13
   listed $47,000

ⓘ 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 6/10 Major 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,591
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,047
• − Management: −$2,047
• − HOA: −$5,580
• − Depreciation: −$5,382
• Taxable loss: −$3,529
• Est. tax savings @ 24.0%: +$847
• After-tax cash flow: $142/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 · 6 photos

Good 75/100 Cosmetic rehab

This move-in ready condo is in good condition with modern finishes and a clean, contemporary feel. Minor exterior painting and landscaping improvements could further enhance its value.

Value-add opportunities

• Both Painting exterior brick — Enhances curb appeal and can increase property value.
• Both Landscaping improvements — Enhances curb appeal and can increase property value.
• Both Newer window treatments — Improves energy efficiency and enhances curb appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior brick — Enhances curb appeal and can increase property value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase property value. ↑
• Both Newer window treatments — Improves energy efficiency and enhances curb appeal. ↑

ⓘ 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

+293.6% since first listed

6 events — show timeline

• 2026-05-05 Pending — Smart MLS
• 2026-03-28 Listed $185,000 Smart MLS
• 2002-08-02 Sold (MLS) $63,000 Smart MLS
• 2002-03-15 Listed $63,900 Smart MLS
• 2000-06-15 Sold (MLS) $47,000 Smart MLS
• 2000-03-13 Listed $47,000 Smart MLS