23 Chatsworth Rd #23 · Salmon Brook, CT 06035

$274,000

2 bd · 2.5 ba · 1,381 sqft · Condo · 93 Days on market

Built 1988 Good condition $198/sqft · 48% below area Est $528k · 48% under $601/mo HOA · 19% of rent ↓ 4% since listing

---

Why this score? — see what drove the C- 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 +14.1/30.0
• 1% rule +6.7/10.0
• Schools +5.1/10.0
• DSCR +4.3/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 23 Chatsworth Rd: a charming 2-bedroom, 2.5-bath condo in desirable Granby, Connecticut. Move-in ready and full of potential, this well-maintained condo offers a wonderful opportunity to settle in now and add your personal touch over time. The main level features an open dining room and kitchen alongside a spacious living room complete with a cozy fireplace, perfect for relaxing or entertaining guests. Upstairs, two generously sized bedrooms and two full bathrooms await. The primary suite boasts a private full bathroom, while the second bedroom offers incredible flexibility as a guest room, home office, or both. An additional full bathroom on the upper level provides convenience for all. The partially finished basement offers valuable extra space, in-unit laundry, and a newer hot water heater for added peace of mind. A detached one-car garage completes the package. This is a fantastic opportunity to own in desirable Granby and make it truly your own.

Key facts

• Open dining room
• In unit laundry
• Cozy fireplace

Tags

• OPEN DINING ROOM
• SPACIOUS LIVING ROOM
• COZY FIREPLACE
• PRIVATE FULL BATHROOM
• PARTIALLY FINISHED BASEMENT
• IN UNIT LAUNDRY

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $274k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $41 ($491/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $274k).
• Recommended offer: $249k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 3.4% in Salmon Brook — 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 66/100 on livability (#121 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: cost of living D, amenities F, commute F.
• Granby School District (suburban): math 45% / reading 64% proficiency, ranked #57 of 153 in CT (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Kelly Lane Primary School (393 students, 16% FRL); Granby Memorial Middle School (math 35% / reading 63%, grade C-, #81 of 175 statewide, top 47%, 400 students, 14% FRL); Granby Memorial High School (math 62% / reading 77%, grade B, #18 of 194 statewide, top 10%, 553 students, 15% FRL).
• Market conditions: 41 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $23k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $249,340 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 1.17% ✓
• Cap rate: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 7.1

CMA / ARV

• ARV (median comp): $527,787
• List price: $274,000
• Delta: -48.09%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.1%
• Equity multiple: 0.46×
• Total profit: $-41,378
• Equity at exit: $40,854

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-30,980
• Equity at exit: $23,691

Cash invested: $76,720 (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 06035

• Home prices YoY: -28.1%
• Active inventory: 41
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $3,209 medium
• Mortgage (P&I): −$1,437
• Tax est. 1.5%: −$342 /mo · $4,110/yr
• Insurance: −$114
• HOA: −$601
• Vacancy / Maint / Mgmt: −$674
• Net cashflow: $41

Break-even live

Break-even rent $3,158

Max offer price $274,000

Occupancy floor 94%

Sensitivity live

Price	-10% $230	-5% $136	+0% $41	+5% $-54	+10% $-148
Rent	-10% $-213	-5% $-86	+0% $41	+5% $168	+10% $294
Rate	-1.0pp $179	-0.5pp $111	base $41	+0.5pp $-30	+1.0pp $-102

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: $68,500
• Closing costs: $8,220
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Murthas Way Granby, CT	3.0	2.5	1680	$3,635	$2.16	3d	1	0.48mi
3 Murthas Way Granby, CT	1.0–3.0	1.0–2.5	1251	$2,902	$2.32	3d	15	0.55mi
280 Salmon Brook St Granby, CT	1.0–3.0	1.0–2.0	1318	$2,688	$2.04	3d	19	1.30mi
5 Ice Pond Rd Granby, CT	3.0	2.5	1838	$3,500	$1.90	12d	1	1.41mi

HOA detail condo

• Monthly dues: $601 · $7,212/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $274,000 Active 93 DOM
2. 2026-06-18
   days on market $274,000 Active 90 DOM
3. 2026-06-17
   days on market $274,000 Active 89 DOM
4. 2026-06-16
   days on market $274,000 Active 88 DOM
5. 2026-06-15
   days on market $274,000 Active 87 DOM
6. 2026-06-13
   days on market $274,000 Active 85 DOM
7. 2026-06-10
   days on market $274,000 Active 82 DOM
8. 2026-06-09
   days on market $274,000 Active 81 DOM
9. 2026-06-08
   days on market $274,000 Active 80 DOM
10. 2026-06-07
    days on market $274,000 Active 79 DOM
11. 2026-06-03
    days on market $274,000 Active 75 DOM
12. 2026-06-02
    days on market $274,000 Active 74 DOM
13. 2026-06-01
    days on market $274,000 Active 73 DOM
14. 2026-05-31
    days on market $274,000 Active 72 DOM
15. 2026-05-14
    status Active 975-char remark

    Show marketing remark (975 chars)

    Welcome to 23 Chatsworth Rd: a charming 2-bedroom, 2.5-bath condo in desirable Granby, Connecticut. Move-in ready and full of potential, this well-maintained condo offers a wonderful opportunity to settle in now and add your personal touch over time. The main level features an open dining room and kitchen alongside a spacious living room complete with a cozy fireplace, perfect for relaxing or entertaining guests. Upstairs, two generously sized bedrooms and two full bathrooms await. The primary suite boasts a private full bathroom, while the second bedroom offers incredible flexibility as a guest room, home office, or both. An additional full bathroom on the upper level provides convenience for all. The partially finished basement offers valuable extra space, in-unit laundry, and a newer hot water heater for added peace of mind. A detached one-car garage completes the package. This is a fantastic opportunity to own in desirable Granby and make it truly your own.

16. 2026-05-06
    status Under Contract 975-char remark

    Show marketing remark (975 chars)

    Welcome to 23 Chatsworth Rd: a charming 2-bedroom, 2.5-bath condo in desirable Granby, Connecticut. Move-in ready and full of potential, this well-maintained condo offers a wonderful opportunity to settle in now and add your personal touch over time. The main level features an open dining room and kitchen alongside a spacious living room complete with a cozy fireplace, perfect for relaxing or entertaining guests. Upstairs, two generously sized bedrooms and two full bathrooms await. The primary suite boasts a private full bathroom, while the second bedroom offers incredible flexibility as a guest room, home office, or both. An additional full bathroom on the upper level provides convenience for all. The partially finished basement offers valuable extra space, in-unit laundry, and a newer hot water heater for added peace of mind. A detached one-car garage completes the package. This is a fantastic opportunity to own in desirable Granby and make it truly your own.

17. 2026-04-11
    price $284,900 975-char remark

    Show marketing remark (975 chars)

    Welcome to 23 Chatsworth Rd: a charming 2-bedroom, 2.5-bath condo in desirable Granby, Connecticut. Move-in ready and full of potential, this well-maintained condo offers a wonderful opportunity to settle in now and add your personal touch over time. The main level features an open dining room and kitchen alongside a spacious living room complete with a cozy fireplace, perfect for relaxing or entertaining guests. Upstairs, two generously sized bedrooms and two full bathrooms await. The primary suite boasts a private full bathroom, while the second bedroom offers incredible flexibility as a guest room, home office, or both. An additional full bathroom on the upper level provides convenience for all. The partially finished basement offers valuable extra space, in-unit laundry, and a newer hot water heater for added peace of mind. A detached one-car garage completes the package. This is a fantastic opportunity to own in desirable Granby and make it truly your own.

18. 2026-03-12
    listed $297,000 Active 975-char remark

    Show marketing remark (975 chars)

    Welcome to 23 Chatsworth Rd: a charming 2-bedroom, 2.5-bath condo in desirable Granby, Connecticut. Move-in ready and full of potential, this well-maintained condo offers a wonderful opportunity to settle in now and add your personal touch over time. The main level features an open dining room and kitchen alongside a spacious living room complete with a cozy fireplace, perfect for relaxing or entertaining guests. Upstairs, two generously sized bedrooms and two full bathrooms await. The primary suite boasts a private full bathroom, while the second bedroom offers incredible flexibility as a guest room, home office, or both. An additional full bathroom on the upper level provides convenience for all. The partially finished basement offers valuable extra space, in-unit laundry, and a newer hot water heater for added peace of mind. A detached one-car garage completes the package. This is a fantastic opportunity to own in desirable Granby and make it truly your own.

ⓘ 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: $38,513
• − Mortgage interest: −$15,348
• − Property taxes: −$4,110
• − Insurance: −$1,370
• − Repairs & maintenance: −$3,081
• − Management: −$3,081
• − HOA: −$7,212
• − Depreciation: −$7,971
• Taxable loss: −$3,660
• Est. tax savings @ 24.0%: +$878
• After-tax cash flow: $1,369/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

Good 75/100 Cosmetic rehab

This move-in ready condo is in good condition with some cosmetic updates needed to modernize the kitchen and bathrooms, which would significantly increase its value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate bathroom fixtures — dated and in need of updating

Value-add opportunities

• Both update kitchen cabinets and fixtures — modernizing the kitchen would appeal to both buyers and renters
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics
• Both update bathroom fixtures — modernizing the bathrooms would appeal to both buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of updating	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$6,000–30,000

Value-add ROI direction

• Both update kitchen cabinets and fixtures — modernizing the kitchen would appeal to both buyers and renters ↑
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics ↑
• Both update bathroom fixtures — modernizing the bathrooms would appeal to both buyers and renters ↑

ⓘ 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: Granby School District
• NCES district ID: 0901680
• Math proficiency: 45% ▼ -18.00%
• Reading proficiency: 64% ▼ -13.00%
• Median HH income: $100,173
• Composite: 51.24/100
• National rank: #1751
• State rank: #57 of 153 in CT

Livability — Salmon Brook

• Score: 66/100
• State rank: #121
• US rank: #11793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,939
• Population (ZIP): 7,939

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 10% Lithuanian 9% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 90% English-only · Other Indo-European 4% Spanish 2% Russian/Polish/Slavic 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: ▼ -95.64%
• Current HPI: 244.0696
• 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

-4.1% since first listed

4 events — show timeline

• 2026-05-14 Relisted — Smart MLS
• 2026-05-06 Pending — Smart MLS
• 2026-04-11 Price Changed $284,900 Smart MLS
• 2026-03-12 Listed $297,000 Smart MLS