122 W Main St Unit I · Stafford, CT 06076

$154,900

2 bd · 1.5 ba · 1,508 sqft · Condo public records · 8 Days on market

Built 1984 $103/sqft · 26% below area Est $210k · 26% under $376/mo HOA · 21% 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).

• ARV discount +15.0/15.0
• Cash flow +13.2/30.0
• 1% rule +6.4/10.0
• DSCR +4.0/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare 3 BR Unit Available in Millpond Condominiums. Townhouse Style Unit Just Needs Your Finishing Touches! Lots of Natural Lighting, and Closet Space. Eat-in Kitchen with Bay Window, LR-DR Combination with Sliders to Rear Deck Where You Can Relax and Enjoy a Cup of Coffee and the Fall Water Views! There are 1.5 Baths, Spacious Bedrooms, Master has Walk-in-Closet, Full Walk out Basement could be Finished. Laundry Hook-ups in Basement. Entry way has 2 Coat Closets and/or Pantry. Don't Miss Out on Viewing this Unit!

Key facts

• Townhouse style unit
• Eat in kitchen
• Bay window

Tags

• TOWNHOUSE STYLE UNIT
• UPPER DECK OVERLOOKING RIVER
• EAT IN KITCHEN
• BAY WINDOW
• FULL WALK OUT BASEMENT
• LAUNDRY HOOK UPS

Property features AI

Finance

• Other: Part of Mill Pond complex; 14 total units in the complex
• Financial info: Property managed professionally off-site; Pets allowed with approval
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee: $376; HOA covers grounds maintenance, trash pickup, snow removal, and insurance

Exterior

• Utilities: Public water connected; Public sewer connected
• Home design: Condominium; Condo/Co-Op for sale
• Construction: Frame construction; White exterior color
• Exterior features: Deck; Vinyl siding; Water view; Secluded, lightly wooded lot

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Electric baseboard heat; Hot water system: Other
• Interior features: Full walk-out basement; Basement on lower level
• Laundry & utility: Laundry in basement / lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $-2 ($-24/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (0.2% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $155k (0.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Stafford School District (town): math 33% / reading 48% proficiency, ranked #99 of 153 in CT (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stafford High School (math 42% / reading 72%, grade C, #52 of 194 statewide, top 31%, 398 students, 31% FRL).
• Zoned-school proficiency averages 57% at this address vs 40% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Stafford School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 72 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $5k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y 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 $115k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,546 (0.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 6.28%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• GRM: 7.3

CMA / ARV

• ARV (median comp): $210,372
• List price: $154,900
• Delta: -26.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.2%
• Equity multiple: 0.42×
• Total profit: $-24,999
• Equity at exit: $23,096

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-21,001
• Equity at exit: $13,393

Cash invested: $43,372 (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 06076

• Home prices YoY: -11.7%
• Active inventory: 72
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,770 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$147 /mo · $1,768/yr
• Insurance: −$65
• HOA: −$376
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $-2

Break-even live

Break-even rent $1,772

Max offer price $154,546

Occupancy floor 95%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Edgewood St Unit A Stafford Springs, CT	3.0	1.0	1550	$1,950	$1.26	4d	1	0.63mi
30 Edgewood St Unit B Stafford Springs, CT	2.0	1.0	1400	$1,800	$1.29	1d	1	0.63mi
58 Furnace Ave Unit B Stafford Springs, CT	2.0	2.0	1296	$1,500	$1.16	1d	1	0.72mi

HOA detail condo

• Monthly dues: $376 · $4,512/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-05-14
   status Under Contract 938-char remark
2. 2026-05-13
   historical 938-char remark
3. 2026-05-08
   status Active 938-char remark
4. 2026-05-08
   historical Under Contract - Continue to Show 938-char remark
5. 2026-05-04
   listed $154,900 Active 938-char remark
6. 2021-09-28
   soldstatus $114,900 Closed 518-char remark

   Show marketing remark (518 chars)

   Rare 3 BR Unit Available in Millpond Condominiums. Townhouse Style Unit Just Needs Your Finishing Touches! Lots of Natural Lighting, and Closet Space. Eat-in Kitchen with Bay Window, LR-DR Combination with Sliders to Rear Deck Where You Can Relax and Enjoy a Cup of Coffee and the Fall Water Views! There are 1.5 Baths, Spacious Bedrooms, Master has Walk-in-Closet, Full Walk out Basement could be Finished. Laundry Hook-ups in Basement. Entry way has 2 Coat Closets and/or Pantry. Don't Miss Out on Viewing this Unit!

7. 2021-06-14
   historical Under Contract - Continue to Show 518-char remark

   Show marketing remark (518 chars)

   Rare 3 BR Unit Available in Millpond Condominiums. Townhouse Style Unit Just Needs Your Finishing Touches! Lots of Natural Lighting, and Closet Space. Eat-in Kitchen with Bay Window, LR-DR Combination with Sliders to Rear Deck Where You Can Relax and Enjoy a Cup of Coffee and the Fall Water Views! There are 1.5 Baths, Spacious Bedrooms, Master has Walk-in-Closet, Full Walk out Basement could be Finished. Laundry Hook-ups in Basement. Entry way has 2 Coat Closets and/or Pantry. Don't Miss Out on Viewing this Unit!

8. 2021-06-09
   listed $114,900 Active 518-char remark

   Show marketing remark (518 chars)

   Rare 3 BR Unit Available in Millpond Condominiums. Townhouse Style Unit Just Needs Your Finishing Touches! Lots of Natural Lighting, and Closet Space. Eat-in Kitchen with Bay Window, LR-DR Combination with Sliders to Rear Deck Where You Can Relax and Enjoy a Cup of Coffee and the Fall Water Views! There are 1.5 Baths, Spacious Bedrooms, Master has Walk-in-Closet, Full Walk out Basement could be Finished. Laundry Hook-ups in Basement. Entry way has 2 Coat Closets and/or Pantry. Don't Miss Out on Viewing this Unit!

9. 2006-09-29
   soldstatus $124,000
10. 2006-04-20
    soldstatus $85,000
11. 2000-01-31
    soldstatus $54,500

ⓘ 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: $1,768 · $147/mo
• Projected year-2 tax: $2,541 · $212/mo
• Expected delta: +$773/yr (+$64/mo · 43.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,238
• − Mortgage interest: −$8,677
• − Property taxes: −$1,768
• − Insurance: −$774
• − Repairs & maintenance: −$1,699
• − Management: −$1,699
• − HOA: −$4,512
• − Depreciation: −$4,506
• Taxable loss: −$2,397
• Est. tax savings @ 24.0%: +$575
• After-tax cash flow: $551/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: Stafford School District
• NCES district ID: 0904290
• Math proficiency: 33% ▼ -13.00%
• Reading proficiency: 48% ▼ -9.00%
• Median HH income: $63,653
• Composite: 36.16/100
• National rank: #4735
• State rank: #99 of 153 in CT

Livability — Stafford

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

Census & demographics

• Census place: Stafford Springs, CT
• Population (ZIP): 11,989

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Lithuanian 13% Romanian 12% Slovak 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

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: ▼ -33.19%
• Current HPI: 251.5895
• 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

+184.2% since first listed

11 events — show timeline

• 2026-05-14 Pending — Smart MLS
• 2026-05-13 Listing Removed — Smart MLS
• 2026-05-08 Relisted — Smart MLS
• 2026-05-08 Contingent — Smart MLS
• 2026-05-04 Listed $154,900 Smart MLS
• 2021-09-28 Sold (MLS) $114,900 Smart MLS
• 2021-06-14 Contingent — Smart MLS
• 2021-06-09 Listed $114,900 Smart MLS
• 2006-09-29 Sold (Public Records) $124,000 Public Records
• 2006-04-20 Sold (Public Records) $85,000 Public Records
• 2000-01-31 Sold (Public Records) $54,500 Public Records

Property tax history

-0.9%/yr

Latest (2023): $1,768 · +3.2% YoY. Source: county tax records.