7 Old Mill Ct #7 · Simsbury Center, CT 06070

$289,900

2 bd · 2.5 ba · 1,502 sqft · Condo · 4 Days on market

Built 1978 Good condition $425/mo HOA · 16% 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 +8.3/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Stunning & sophisticated end unit wonderful light built-ins bookcases with art lights in living room-new banister-wood fireplace-cathedral ceiling in dining room-balcony-hardwood on first level-storage patio with new fence-garage-renovated move right in !

Key facts

• $425 HOA
• Garage
• Built 1978

Property features AI

Finance

• Other: Professional off-site property management; Pets allowed (two per household)
• HOA & community: Homeowners association with monthly fee; HOA covers grounds maintenance, trash pickup, snow removal, property management, and road maintenance; HOA fee $425/month

Exterior

• Parking: Detached garage; Driveway parking; Unassigned parking; 2 total parking spaces (1 garage)
• Utilities: Public water; Public sewer; Electric hot water; Oil fuel with fuel tank in basement
• Home design: Condominium (Condo/Co-Op for sale); Part of Old Mill Town Homes complex; End unit; 2 levels in unit
• Construction: Frame construction
• Exterior features: Clapboard siding; Patio; Level lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full baths, 1 half bath
• Heating & cooling: Hot air heat (oil-fired); Electric hot water
• Interior features: Auto garage door opener; Cable available; Open floor plan; One fireplace; Central air
• Laundry & utility: Washer and dryer included; Laundry on upper level

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-267 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (5.6% below list).
• Recommended offer: $251k (13.3% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 3.2% in Simsbury Center — 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 (#47 in CT, #3,177 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Simsbury School District (suburban): math 62% / reading 78% proficiency, ranked #14 of 153 in CT (top 9%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Central School (math 63% / reading 79%, grade A-, #73 of 553 statewide, top 13%, 394 students, 18% FRL); Henry James Memorial School (math 58% / reading 81%, grade A, #17 of 175 statewide, top 9%, 620 students, 16% FRL); Simsbury High School (math 60% / reading 83%, grade B+, #17 of 194 statewide, top 8%, 1,217 students, 14% FRL).
• Market conditions: 66 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 24y 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 $229k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $251,315 (13.3% 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. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.94% ✗
• Cap rate: 5.19%
• Cash-on-cash: -3.94%
• DSCR: 0.82
• GRM: 8.8

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: -22.8%
• Equity multiple: 0.22×
• Total profit: $-63,657
• Equity at exit: $43,225

10-year hold

• IRR: -16.8%
• Equity multiple: 0.06×
• Total profit: $-76,071
• Equity at exit: $25,065

Cash invested: $81,172 (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 06070

• Active inventory: 66
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,736 high
• Mortgage (P&I): −$1,520
• Tax est. 1.5%: −$362 /mo · $4,348/yr
• Insurance: −$121
• HOA: −$425
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $-267

Break-even live

Break-even rent $3,074

Max offer price $251,315

Occupancy floor —

Sensitivity live

Price	-10% $-66	-5% $-166	+0% $-267	+5% $-367	+10% $-467
Rent	-10% $-483	-5% $-375	+0% $-267	+5% $-159	+10% $-50
Rate	-1.0pp $-121	-0.5pp $-193	base $-267	+0.5pp $-342	+1.0pp $-418

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Millers Way Simsbury, CT	1.0–2.0	1.0–2.0	1141	$3,410	$2.99	3d	5	0.29mi
2 Stebbins Brook Ln Simsbury, CT	2.0	1.5	1080	$2,400	$2.22	17d	1	0.71mi
14 Hazelmeadow Pl Simsbury, CT	2.0	1.5	2062	$2,495	$1.21	13d	1	0.90mi
7 Seminary Rd Simsbury, CT	3.0	2.0	1792	$2,850	$1.59	17d	1	0.90mi
5 Seminary Rd Unit 2 Simsbury, CT	3.0	2.0	1500	$2,800	$1.87	17d	1	0.91mi
1100 Highcroft Pl Weatogue, CT	1.0–2.0	1.0–3.0	1450	$4,050	$2.79	3d	9	1.29mi

HOA detail condo

• Monthly dues: $425 · $5,100/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-08
   statusdays on market $289,900 Under Contract 4 DOM
2. 2026-06-07
   days on market $289,900 Active 3 DOM
3. 2026-06-05
   remarks 699-char remark
4. 2026-06-05
   listed $289,900 Active 1 DOM

ⓘ 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: $32,837
• − Mortgage interest: −$16,239
• − Property taxes: −$4,348
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,627
• − Management: −$2,627
• − HOA: −$5,100
• − Depreciation: −$8,433
• Taxable loss: −$7,987
• Est. tax savings @ 24.0%: +$1,917
• After-tax cash flow: $-1,283/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 · 1 photo

Good 75/100 Cosmetic rehab

This end-unit condo is in good condition with a good curb appeal and well-maintained interior. It has a good resale and rental value with minor improvements needed.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Rental HVAC maintenance — Ensures comfort and reduces utility costs

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Rental HVAC maintenance — Ensures comfort and reduces utility costs ↑

ⓘ 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: Simsbury School District
• NCES district ID: 0904110
• Math proficiency: 62% ▼ -8.00%
• Reading proficiency: 78% ▼ -4.00%
• Median HH income: $111,717
• Composite: 65.21/100
• National rank: #493
• State rank: #14 of 153 in CT

Livability — Simsbury Center

• Score: 77/100
• State rank: #47
• US rank: #3177

Category grades

Amenities F Commute F Cost of living F 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: Simsbury Center, CT
• County: Hartford County · 754,208 people
• City population: 15,353
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 15,254
• Household income: $162,424
• Rent vs Own: 21.6% rent · 78.4% own
• Severe rent burden: 355.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Two or more races 5% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Dominican 2%
• Common ancestry: Romanian 8% Lithuanian 4% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 91% English-only · Spanish 3% Chinese 2% Other Indo-European 2%

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: ▼ -149.35%
• Current HPI: 195.039
• 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

+93.4% since first listed

8 events — show timeline

• 2026-06-05 Listed $289,900 Smart MLS
• 2026-06-04 Coming Soon $289,900 Smart MLS
• 2014-05-09 Sold (MLS) $229,000 Smart MLS
• 2013-11-06 Listed $235,000 Smart MLS
• 2011-06-16 Sold (MLS) $208,000 Smart MLS
• 2011-04-15 Listed $222,500 Smart MLS
• 2002-05-20 Sold (MLS) $140,000 Smart MLS
• 2002-03-29 Listed $149,900 Smart MLS