21 Topstone Dr · Bethel, CT 06801

$500,000

4 bd · 1.5 ba · 1,738 sqft · SingleFamily public records · 6 Days on market

Built 1959 0.28 ac lot $288/sqft · at area comps Est $493k · at est.

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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 +9.2/30.0
• ARV discount +6.9/15.0
• Schools +4.7/10.0
• Livability +4.1/5.0
• 1% rule +2.7/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

• Walk to Town! • Cul de Sac Neighborhood! • Affordable Gas Heat! • City Water/City Sewer! • Move Right In! • Your Search Ends Here! This inviting 4 Bedroom, 1 1/2 Bath Country Ranch is located just moments to Bethel's Historic Downtown. Features include a Spacious Living Room with Lots of Natural Light, Large, Sunken Family Room with Dining Area. Eat-In Kitchen with French Doors to the Front Deck. Hardwood Floors in Living Room and 3 of the Bedrooms, Plenty of Closet Space, a Main Level Laundry Room, and a Skylight in the Full Bath. Enjoy the Deck Overlooking the Private, Level Back Yard. You'll Love the Home's Close Proximity to Bethel Schools, Shopping, and all of Bethel's Many Amenities. Soooo much better than a Condo :-)

Key facts

• New sink
• Updated kitchen
• New cabinetry

Tags

• WALKING DISTANCE TO DOWNTOWN
• ONE LEVEL LIVING
• UPDATED KITCHEN
• NEW CABINETRY
• BUTCHER BLOCK COUNTERTOPS
• NEW SINK

Property features AI

Exterior

• Utilities: Public water connection; Public sewer connection; 40-gallon hot water tank
• Home design: Single-family home
• Construction: Frame construction; Vinyl siding; Concrete foundation; Asphalt shingle roof; Exterior color: grey
• Exterior features: Level lot on a cul-de-sac; Shed; Deck

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Hot air heating; Natural gas heat
• Interior features: Open floor plan; 1 fireplace; Crawl space basement; Attic with access via hatch; Total of 8 rooms
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $500k.

Deal economics

• At list price, monthly cash flow is $-431 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $424k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $383k (23.5% below list).
• Recommended offer: $383k (23.5% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.5% in Bethel — 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 82/100 on livability (#12 in CT, #1,287 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, health & safety A+; Watch: amenities F, cost of living D-.
• Bethel School District (suburban): math 43% / reading 59% proficiency, ranked #72 of 153 in CT (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Frank A. Berry School (math 37%, 388 students, 26% FRL); Bethel Middle School (math 44% / reading 60%, grade C+, #73 of 175 statewide, top 43%, 764 students, 31% FRL); Bethel High School (math 42% / reading 72%, grade C, #52 of 194 statewide, top 31%, 1,063 students, 30% FRL).
• Market conditions: 79 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wind risk, 26% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $382,727 (23.5% 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 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.21%
• DSCR: 0.86
• GRM: 10.9

CMA / ARV

• ARV (median comp): $492,951
• List price: $500,000
• Delta: 1.43%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Topstone Dr	0.00mi	4/1.5	1,738 (0%)	1mo	$517,500	$298	100
33 Whippoorwill Rd	0.24mi	3/2.5 (-1)	1,701 (-2%)	15mo	$460,000	$270	64
9 Waterhorse Brook Dr	0.11mi	3/1.0 (-1)	1,912 (+10%)	11mo	$442,000	$231	62
21 Cindy Ln	0.62mi	4/2.0	1,644 (-5%)	4mo	$510,000	$310	57
16 Cindy Ln	0.59mi	3/1.5 (-1)	1,764 (+2%)	10mo	$510,000	$289	57
17 Grandview Ave	0.70mi	4/1.0	1,850 (+6%)	1mo	$530,000	$286	54
2 Putnam Park Rd	0.61mi	3/2.0 (-1)	1,668 (-4%)	10mo	$540,000	$324	49
8 Ann Ter	0.62mi	3/2.0 (-1)	1,728 (-1%)	17mo	$490,000	$284	49
4 Midway Dr	0.50mi	3/2.0 (-1)	1,502 (-14%)	1mo	$490,500	$327	46
81A Nashville Rd	0.49mi	3/2.5 (-1)	1,938 (+12%)	10mo	$519,500	$268	41
74 Midway Dr	0.53mi	4/2.0	1,484 (-15%)	12mo	$440,000	$296	39
1 Hickok Ave	0.64mi	3/1.5 (-1)	1,552 (-11%)	12mo	$523,500	$337	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -22.5%
• Equity multiple: 0.23×
• Total profit: $-108,387
• Equity at exit: $74,552

10-year hold

• IRR: -16.6%
• Equity multiple: 0.08×
• Total profit: $-129,460
• Equity at exit: $43,231

Cash invested: $140,000 (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 06801

• Active inventory: 79
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $3,827 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$568 /mo · $6,818/yr
• Insurance: −$208
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$804
• Net cashflow: $-431

Break-even live

Break-even rent $4,372

Max offer price $423,941

Occupancy floor —

Sensitivity live

Price	-10% $-148	-5% $-289	+0% $-431	+5% $-572	+10% $-714
Rent	-10% $-733	-5% $-582	+0% $-431	+5% $-279	+10% $-128
Rate	-1.0pp $-179	-0.5pp $-303	base $-431	+0.5pp $-560	+1.0pp $-692

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 Greenwood Ave Bethel, CT	3.0	2.0	1400	$4,500	$3.21	12d	1	0.29mi
20 Prospect St Bethel, CT	3.0	1.0	1890	$3,100	$1.64	4d	1	0.36mi

Listing history 12 events

1. 2026-05-12
   status Under Contract 1422-char remark
2. 2026-05-06
   listed $500,000 Active 1422-char remark
3. 2017-09-01
   soldstatus $250,000
4. 2017-08-31
   soldstatus $250,000 765-char remark

   Show marketing remark (765 chars)

   • Walk to Town! • Cul de Sac Neighborhood! • Affordable Gas Heat! • City Water/City Sewer! • Move Right In! • Your Search Ends Here! This inviting 4 Bedroom, 1 1/2 Bath Country Ranch is located just moments to Bethel's Historic Downtown. Features include a Spacious Living Room with Lots of Natural Light, Large, Sunken Family Room with Dining Area. Eat-In Kitchen with French Doors to the Front Deck. Hardwood Floors in Living Room and 3 of the Bedrooms, Plenty of Closet Space, a Main Level Laundry Room, and a Skylight in the Full Bath. Enjoy the Deck Overlooking the Private, Level Back Yard. You'll Love the Home's Close Proximity to Bethel Schools, Shopping, and all of Bethel's Many Amenities. Soooo much better than a Condo :-)

5. 2017-08-21
   historical 765-char remark

   Show marketing remark (765 chars)

   • Walk to Town! • Cul de Sac Neighborhood! • Affordable Gas Heat! • City Water/City Sewer! • Move Right In! • Your Search Ends Here! This inviting 4 Bedroom, 1 1/2 Bath Country Ranch is located just moments to Bethel's Historic Downtown. Features include a Spacious Living Room with Lots of Natural Light, Large, Sunken Family Room with Dining Area. Eat-In Kitchen with French Doors to the Front Deck. Hardwood Floors in Living Room and 3 of the Bedrooms, Plenty of Closet Space, a Main Level Laundry Room, and a Skylight in the Full Bath. Enjoy the Deck Overlooking the Private, Level Back Yard. You'll Love the Home's Close Proximity to Bethel Schools, Shopping, and all of Bethel's Many Amenities. Soooo much better than a Condo :-)

6. 2017-07-11
   listed $249,900 765-char remark

   Show marketing remark (765 chars)

   • Walk to Town! • Cul de Sac Neighborhood! • Affordable Gas Heat! • City Water/City Sewer! • Move Right In! • Your Search Ends Here! This inviting 4 Bedroom, 1 1/2 Bath Country Ranch is located just moments to Bethel's Historic Downtown. Features include a Spacious Living Room with Lots of Natural Light, Large, Sunken Family Room with Dining Area. Eat-In Kitchen with French Doors to the Front Deck. Hardwood Floors in Living Room and 3 of the Bedrooms, Plenty of Closet Space, a Main Level Laundry Room, and a Skylight in the Full Bath. Enjoy the Deck Overlooking the Private, Level Back Yard. You'll Love the Home's Close Proximity to Bethel Schools, Shopping, and all of Bethel's Many Amenities. Soooo much better than a Condo :-)

7. 2009-12-01
   soldstatus $280,000
8. 2009-11-25
   soldstatus $280,000

   Show marketing remark (228 chars)

   Walk To Town From This Charming Country Ranch In Cul-De-Sac Neighborhood. Welcoming Layout W/ Lg Sunken Family Rm, Eik, And Formal Lr W/Wood Stove. Hardwood Throughout-Neutral Decor. Private Prop W/Lg Deck.Owner/Agent Related.

9. 2009-09-11
   listed $289,000

   Show marketing remark (228 chars)

   Walk To Town From This Charming Country Ranch In Cul-De-Sac Neighborhood. Welcoming Layout W/ Lg Sunken Family Rm, Eik, And Formal Lr W/Wood Stove. Hardwood Throughout-Neutral Decor. Private Prop W/Lg Deck.Owner/Agent Related.

10. 2002-05-16
    historical
11. 2001-11-16
    listed $229,900
12. 1991-06-28
    soldstatus $151,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CT · Partial reset (capped growth)

• Current annual tax: $6,818 · $568/mo
• Projected year-2 tax: $8,759 · $730/mo
• Expected delta: +$1,941/yr (+$162/mo · 28.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,927
• − Mortgage interest: −$28,008
• − Property taxes: −$6,818
• − Insurance: −$3,166
• − Repairs & maintenance: −$3,674
• − Management: −$3,674
• − Depreciation: −$14,545
• Taxable loss: −$13,959
• Est. tax savings @ 24.0%: +$3,350
• After-tax cash flow: $-1,817/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: Bethel School District
• NCES district ID: 0900270
• Math proficiency: 43% ▼ -14.00%
• Reading proficiency: 59% ▼ -8.00%
• Median HH income: $87,843
• Composite: 47.17/100
• National rank: #2323
• State rank: #72 of 153 in CT

Livability — Bethel

• Score: 82/100
• State rank: #12
• US rank: #1287

Category grades

Amenities F Commute A+ Cost of living D- 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: Bethel, CT
• City population: 20,498
• Population (ZIP): 20,498

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 65% Hispanic / Latino 14% Two or more races 11% Black 6% Asian 6%
• Hispanic origin (detail): Puerto Rican 4% Dominican 3%
• Common ancestry: Estonian 6% Romanian 3% Italian 2%
• Foreign-born: 21% · Canada, China, Jamaica
• Languages at home: 74% English-only · Other Indo-European 10% Spanish 10% Other Asian/Pacific 2%

Political lean MEDSL · Western Connecticut

• 2024 margin: D (+19.1) · D 58.8% · R 39.7% · Other 1.6%
• All cycles: 2024: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -348.18%
• Current HPI: 234.4823
• 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

+241.6% since first listed

13 events — show timeline

• 2026-06-05 Sold (MLS) $517,500 Smart MLS
• 2026-05-12 Pending — Smart MLS
• 2026-05-06 Listed $500,000 Smart MLS
• 2017-09-01 Sold (Public Records) $250,000 Public Records
• 2017-08-31 Sold (MLS) $250,000 Smart MLS
• 2017-08-21 Listing Removed — Smart MLS
• 2017-07-11 Listed $249,900 Smart MLS
• 2009-12-01 Sold (Public Records) $280,000 Public Records
• 2009-11-25 Sold (MLS) $280,000 Smart MLS
• 2009-09-11 Listed $289,000 Smart MLS
• 2002-05-16 Listing Removed — Smart MLS
• 2001-11-16 Listed $229,900 Smart MLS
• 1991-06-28 Sold (Public Records) $151,500 Public Records

Property tax history

+3.8%/yr

Latest (2023): $6,818 · +16.7% YoY. Source: county tax records.