98 Webster Ct #98 · Newington, CT 06111

$248,000

2 bd · 1.5 ba · 1,117 sqft · Condo · 8 Days on market

Built 1972 Fair condition $341/mo HOA · 13% 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 +12.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

End unit, newly freshly painted walls & bathrooms. Finished basement with wet bar. All kitchen appliances are newer, stove is 3 months old great for 1st time buyer.

Key facts

• $341 HOA
• Parking
• Pool

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $248k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-41 ($-497/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (2.4% below list).
• Meets the 1% rule at list price ($3k rent vs $248k).
• Recommended offer: $242k (2.4% below list) — sets the bar for cash-flow.
• Cap rate 6.1% vs local median 4.3% in Newington — 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 79/100 on livability (#30 in CT, #2,143 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Newington School District (suburban): math 38% / reading 53% proficiency, ranked #87 of 153 in CT (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: John Paterson School (math 57% / reading 62%, grade B-, #159 of 553 statewide, top 31%, 442 students, 36% FRL); John Wallace Middle School (math 34% / reading 52%, grade D-, #101 of 175 statewide, top 57%, 586 students, 32% FRL); Newington High School (math 52% / reading 70%, grade C+, #43 of 194 statewide, top 22%, 1,327 students, 32% FRL) — zoned schools average 33% FRL vs 15% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 95 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 25y 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 $93k; list at $248k implies a 167% gain — meaningful room to come down on a strong offer.

Recommended offer $242,003 (2.4% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1972 — 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. 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?
8. 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.
9. 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.
10. 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: 1.03% ✓
• Cap rate: 6.09%
• Cash-on-cash: -0.72%
• DSCR: 0.97
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.98% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.31×
• Total profit: $-47,656
• Equity at exit: $36,978

10-year hold

• IRR: -19.3%
• Equity multiple: 0.08×
• Total profit: $-63,899
• Equity at exit: $21,443

Cash invested: $69,440 (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 06111

• Rents YoY: 1.0%
• Active inventory: 95
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,549 high
• Mortgage (P&I): −$1,301
• Tax est. 1.5%: −$310 /mo · $3,720/yr
• Insurance: −$103
• HOA: −$341
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $-41

Break-even live

Break-even rent $2,601

Max offer price $242,003

Occupancy floor 97%

Sensitivity live

Price	-10% $130	-5% $44	+0% $-41	+5% $-127	+10% $-213
Rent	-10% $-243	-5% $-142	+0% $-41	+5% $59	+10% $160
Rate	-1.0pp $83	-0.5pp $22	base $-41	+0.5pp $-106	+1.0pp $-171

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: $62,000
• Closing costs: $7,440
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
98 Pane Rd Newington, CT	3.0	1.0–2.0	916	$2,948	$3.22	3d	23	0.44mi
227 Pane Rd Newington, CT	1.0–2.0	1.0–2.0	1000	$2,900	$2.90	3d	21	0.68mi
32 Lexington Cir Newington, CT	3.0	2.0	1288	$3,000	$2.33	17d	1	0.71mi
104 Episcopal Rd Unit 2 Berlin, CT	2.0	2.0	1320	$2,795	$2.12	3d	1	1.00mi
104 Episcopal Rd Unit 1 Berlin, CT	2.0	2.0	1236	$2,695	$2.18	3d	1	1.00mi
1570 Willard Ave Newington, CT	1.0–2.0	1.0	700	$1,800	$2.57	13d	2	1.01mi
472 Willard Ave Newington, CT	1.0–2.0	1.0	738	$1,875	$2.54	5d	3	1.10mi
1439 Willard Ave Newington, CT	2.0	1.5	900	$1,950	$2.17	45d	1	1.33mi
1435 Willard Ave Newington, CT	1.0–2.0	1.0–1.5	950	$2,000	$2.11	3d	1	1.38mi
1431 Willard Ave Newington, CT	1.0	1.0	755	$1,550	$2.05	45d	1	1.38mi

HOA detail condo

• Monthly dues: $341 · $4,092/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-04-25
   status Under Contract
2. 2026-04-17
   listed $248,000 Active
3. 2026-04-14
   historical $248,000
4. 2001-09-29
   soldstatus $93,000 168-char remark

   Show marketing remark (168 chars)

   End unit, newly freshly painted walls & bathrooms. Finished basement with wet bar. All kitchen appliances are newer, stove is 3 months old great for 1st time buyer.

5. 2001-07-16
   listed $96,000 168-char remark

   Show marketing remark (168 chars)

   End unit, newly freshly painted walls & bathrooms. Finished basement with wet bar. All kitchen appliances are newer, stove is 3 months old great for 1st time buyer.

ⓘ 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: $30,584
• − Mortgage interest: −$13,892
• − Property taxes: −$3,720
• − Insurance: −$1,240
• − Repairs & maintenance: −$2,447
• − Management: −$2,447
• − HOA: −$4,092
• − Depreciation: −$7,215
• Taxable loss: −$4,468
• Est. tax savings @ 24.0%: +$1,072
• After-tax cash flow: $575/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 · 12 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations to improve its condition and increase its value. The home is move-in ready with fresh paint, but outdated kitchen and bathroom fixtures, as well as a damaged brick wall and unkempt landscaping, need attention.

Repairs flagged

• Major damaged brick wall — structural damage
• Moderate outdated kitchen cabinetry — aesthetically unappealing and outdated
• Moderate outdated bathroom fixtures — aesthetically unappealing and outdated
• Moderate outdated flooring — aesthetically unappealing and outdated
• Major landscaping — overgrown lawn and unkempt landscaping

Value-add opportunities

• Both new flooring — improves aesthetics and functionality
• Both new kitchen cabinetry — enhances aesthetics and functionality
• Both new bathroom fixtures — enhances aesthetics and functionality
• Both new landscaping — enhances curb appeal and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
damaged brick wall · structural damage	Major	$15,000–50,000
outdated kitchen cabinetry · aesthetically unappealing and outdated	Moderate	$3,000–15,000
outdated bathroom fixtures · aesthetically unappealing and outdated	Moderate	$3,000–15,000
outdated flooring · aesthetically unappealing and outdated	Moderate	$3,000–15,000
landscaping · overgrown lawn and unkempt landscaping	Major	$15,000–50,000
Total estimated repair cost · 5 items		$39,000–145,000

Value-add ROI direction

• Both new flooring — improves aesthetics and functionality ↑
• Both new kitchen cabinetry — enhances aesthetics and functionality ↑
• Both new bathroom fixtures — enhances aesthetics and functionality ↑
• Both new landscaping — enhances curb appeal and aesthetics ↑

ⓘ 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: Newington School District
• NCES district ID: 0902880
• Math proficiency: 38% ▼ -14.00%
• Reading proficiency: 53% ▼ -6.00%
• Median HH income: $74,751
• Composite: 41.37/100
• National rank: #3489
• State rank: #87 of 153 in CT

Livability — Newington

• Score: 79/100
• State rank: #30
• US rank: #2143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newington, CT
• County: Hartford County · 754,208 people
• City population: 30,896
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 30,896
• Household income: $102,884
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 553.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 12% Two or more races 8% Asian 7% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 12% Lithuanian 7% Russian 3%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 72% English-only · Spanish 8% Other Indo-European 8% Russian/Polish/Slavic 7%

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: ▼ -194.94%
• Current HPI: 185.3332
• Rent YoY: ▲ 0.98%
• 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

+158.3% since first listed

5 events — show timeline

• 2026-04-25 Pending — Smart MLS
• 2026-04-17 Listed $248,000 Smart MLS
• 2026-04-14 Coming Soon $248,000 Smart MLS
• 2001-09-29 Sold (MLS) $93,000 Smart MLS
• 2001-07-16 Listed $96,000 Smart MLS