5 Talcott Ridge Rd Unit F

West Hartford, CT 06032

$270,000D

2 bd · 1.5 ba · 1,650 sqft · Built 1970 · Condo · Under Contract · 114 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,700/mo
• Mortgage (P&I): −$1,416
• Tax + insurance: −$451
• HOA: −$653
• Vac / Maint / Mgmt: −$567
• Net cashflow: $-387/mo
• Annual: $-4,649/yr
• Cap rate: 4.57%
• Cash-on-cash: -6.15%
• DSCR: 0.73
• 1% rule: 1.00%
• Cash to close: $75,600

Investor read

• This is a 2-bed/1.5-bath condo listed at $270k.
• At list price, monthly cash flow is $-387 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (25.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (0.0% below list).
• It's been on market 114 days — a 9% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $202k (25.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#27 in CT, #1,989 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, cost of living F.
• Farmington School District (suburban): math 65% / reading 77% proficiency, ranked #18 of 153 in CT (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: East Farms School (math 77% / reading 77%, grade A, #28 of 553 statewide, top 7%, 468 students, 11% FRL); West Woods Upper Elementary School (math 64% / reading 77%, grade A, #13 of 175 statewide, top 8%, 641 students, 17% FRL); Farmington High School (math 55% / reading 78%, grade B, #32 of 194 statewide, top 16%, 1,263 students, 16% FRL).
• Watch-outs: HOA is 24% of rent.
• Market conditions: Rents flat; 67 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• 5 sale attempts since 16y ago; this cycle's ask has dropped $40k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $270k implies a 80% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.6% vs local median 3.3% in West Hartford — 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.

Questions for listing agent

• 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?
• It's been on market 114 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?