306 Old Colchester Rd #181 · Colchester, CT 06420

$74,900

1 bd · 1.0 ba · 750 sqft · Condo · 14 Days on market

Built 2000 $205/mo HOA · 10% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your perfect summer escape at Indianfield Co-Op on beautiful Gardner Lake! This charming seasonal home offers approximately 800 square feet of comfortable living space, thoughtfully designed for relaxation and making lasting memories. Featuring 1 spacious bedroom plus a cozy loft for additional sleeping, this home easily accommodates family and guests alike. Step inside to find a bright kitchen, inviting living room, and a sunroom that's perfect for morning coffee or winding down after a day at the lake. Outside, enjoy your private porch complete with a fun tiki hut-ideal for entertaining or simply soaking in the summer vibes. A golf cart is included, and the 2026 season has alre

Key facts

• Fishing dock
• Private porch
• On site laundry room

Tags

• PRIVATE PORCH
• TIKI HUT
• FISHING DOCK
• BOAT DOCK
• JET SKI DOCK
• ON SITE LAUNDRY ROOM

Property features AI

Finance

• Other: Pets allowed (dogs must be leashed); Part of a multi-unit complex with 212 units; listed unit is an end unit
• HOA & community: Unit owners association with annual HOA; HOA fee paid annually; Association provides clubhouse, front desk receptionist, lake/beach access, grounds maintenance, trash pickup, water, property management, and road maintenance; Association amenities include basketball court, bocci court, guest parking, and playground/tot lot

Exterior

• Parking: Unpaved parking; 2 parking spaces
• Utilities: Shared well water; Septic system; Propane fuel (above-ground tank)
• Home design: Condo/Co-op (Co-Op); Seasonal property; Walk to water with dock or mooring; association access (seasonal)
• Construction: Other construction type
• Exterior features: Vinyl siding; Shed; Deck; Corner lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator
• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heat; Propane hot water
• Interior features: Cable available; Window unit cooling
• Laundry & utility: Coin-operated common laundry in main building

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $872 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 20.3% vs local median 2.9% in Colchester — 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 77/100 on livability (#43 in CT, #3,018 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, commute F.
• Salem School District (rural): math 64% / reading 76% proficiency, ranked #17 of 153 in CT (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Salem Elementary School (math 65% / reading 77%, grade A-, #73 of 553 statewide, top 13%, 397 students, 19% FRL).
• Market conditions: 29 active listings in the ZIP; 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 $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $74,900

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. Schools are A-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?
5. 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.
6. 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.
7. 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: 2.69% ✓
• Cap rate: 20.26%
• Cash-on-cash: 49.89%
• DSCR: 3.22
• GRM: 3.1

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: 47.7%
• Equity multiple: 3.08×
• Total profit: $43,549
• Equity at exit: $11,168

10-year hold

• IRR: 53.4%
• Equity multiple: 6.25×
• Total profit: $110,061
• Equity at exit: $6,476

Cash invested: $20,972 (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 06420

• Home prices YoY: -10.2%
• Active inventory: 29
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,018 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$205
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $872

Break-even live

Break-even rent $915

Max offer price $74,900

Occupancy floor 52%

Sensitivity live

Price	-10% $924	-5% $898	+0% $872	+5% $846	+10% $820
Rent	-10% $712	-5% $792	+0% $872	+5% $952	+10% $1,031
Rate	-1.0pp $910	-0.5pp $891	base $872	+0.5pp $852	+1.0pp $833

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $205 · $2,460/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-05-22
   price $74,900
2. 2026-05-10
   listed $84,900 Active
3. 2018-06-01
   historical
4. 2018-02-06
   price $59,900
5. 2017-08-05
   listed $65,000 Active

ⓘ 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: $24,220
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,938
• − Management: −$1,938
• − HOA: −$2,460
• − Depreciation: −$2,179
• Taxable income: $10,012
• Est. tax owed @ 24.0%: −$2,403
• After-tax cash flow: $8,059/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: Salem School District
• NCES district ID: 0903900
• Math proficiency: 64% ▼ -7.00%
• Reading proficiency: 76% ▼ -1.00%
• Median HH income: $97,467
• Composite: 63.86/100
• National rank: #590
• State rank: #17 of 153 in CT

Livability — Colchester

• Score: 77/100
• State rank: #43
• US rank: #3018

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,323

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 4% Two or more races 4% Black 1% Asian 1%
• Common ancestry: Romanian 7% Lithuanian 5% Russian 3%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

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: ▼ -31.50%
• Current HPI: 278.0717
• 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

+15.2% since first listed

5 events — show timeline

• 2026-05-22 Price Changed $74,900 Smart MLS
• 2026-05-10 Listed $84,900 Smart MLS
• 2018-06-01 Listing Removed — Smart MLS
• 2018-02-06 Price Changed $59,900 Smart MLS
• 2017-08-05 Listed $65,000 Smart MLS