182 Willow Spgs #182 · New Milford, CT 06776

$319,900

2 bd · 1.5 ba · 1,651 sqft · Condo · 37 Days on market

Built 1985 Fair condition $194/sqft · at area comps Est $327k · at est. $433/mo HOA · 11% of rent

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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).

• Cash flow +20.1/30.0
• ARV discount +8.5/15.0
• 1% rule +7.0/10.0
• DSCR +6.4/10.0
• Livability +4.3/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity in a Seller's Market; This is it! Solid bones in need of cosmetic refresh and updates, but livable and ready for the next owner to give it the love it has been missing! Large, spacious Townhouse in southern New Milford, located in the rear of the complex on the most quiet cul-de-sac in the complex. Willow Springs offers many amenities such as a community pool and numerous recreational facilities. Now is the time to bite this apple of opportunity; they do not come around very often these days!

Key facts

• Open floor plan
• In-ground pool
• Walk-in closet

Tags

• OPEN FLOOR PLAN
• PRIVATE BALCONY DECK
• LARGE PANTRY
• BREAKFAST BAR
• WALK-IN CLOSET
• IN-GROUND POOL

Property features AI

Finance

• Other: Part of a 332-unit community
• Financial info: Property managed professionally off-site; Pets allowed with some restrictions
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee; HOA covers clubhouse, grounds maintenance, trash pickup, snow removal, water, property management, pool service, and road maintenance

Exterior

• Parking: Paved parking; Assigned and unassigned parking spaces; 2 total parking spaces
• Utilities: Public water; Public sewer; 30-gallon hot water tank
• Home design: Condominium; Part of Willow Springs complex
• Construction: Frame construction
• Exterior features: Vinyl siding; Level lot; In-ground swimming pool; Community pool

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Baseboard heating (electric); Window air conditioning unit
• Interior features: Two-level unit; One fireplace; No basement
• Laundry & utility: Washer and dryer located upstairs

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $320k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Recommended offer: $310k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.6% in New Milford — 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 86/100 on livability (#2 in CT, #371 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: cost of living C-, amenities D-.
• New Milford School District (suburban): math 29% / reading 47% proficiency, ranked #100 of 153 in CT (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 147 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• This rent runs 44% of the median local income ($104k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $250k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% 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.

Recommended offer $310,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.32%
• DSCR: 1.24
• GRM: 6.9

CMA / ARV

• ARV (median comp): $327,421
• List price: $319,900
• Delta: -2.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.9%
• Equity multiple: 0.71×
• Total profit: $-26,239
• Equity at exit: $47,698

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $11,013
• Equity at exit: $27,659

Cash invested: $89,572 (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 06776

• Active inventory: 147
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,849 medium
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,798/yr
• Insurance: −$133
• HOA: −$433
• Vacancy / Maint / Mgmt: −$808
• Net cashflow: $397

Break-even live

Break-even rent $3,347

Max offer price $319,900

Occupancy floor 85%

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
75 Lake Lillinonah Rd N Bridgewater, CT	2.0	2.0	1344	$7,500	$5.58	43d	1	1.11mi
67 Lake Lillinonah Rd N Bridgewater, CT	2.0	1.5	1152	$3,500	$3.04	43d	1	1.11mi

HOA detail condo

• Monthly dues: $433 · $5,196/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-19
   days on market $319,900 Active 37 DOM
2. 2026-06-18
   days on market $319,900 Active 36 DOM
3. 2026-06-17
   days on market $319,900 Active 35 DOM
4. 2026-06-16
   days on market $319,900 Active 34 DOM
5. 2026-06-15
   days on market $319,900 Active 33 DOM
6. 2026-06-14
   days on market $319,900 Active 31 DOM
7. 2026-06-13
   pricedays on market $319,900 Active 30 DOM
8. 2026-06-10
   days on market $324,900 Active 28 DOM
9. 2026-06-09
   days on market $324,900 Active 27 DOM
10. 2026-06-08
    days on market $324,900 Active 26 DOM
11. 2026-06-07
    days on market $324,900 Active 25 DOM
12. 2026-06-05
    days on market $324,900 Active 22 DOM
13. 2026-06-03
    days on market $324,900 Active 21 DOM
14. 2026-06-02
    days on market $324,900 Active 20 DOM
15. 2026-06-01
    days on market $324,900 Active 19 DOM
16. 2026-05-31
    days on market $324,900 Active 18 DOM
17. 2026-05-30
    days on market $324,900 Active 17 DOM
18. 2026-05-13
    listed $324,900 Active 1265-char remark
19. 2023-07-21
    status Under Contract 509-char remark

    Show marketing remark (509 chars)

    Opportunity in a Seller's Market; This is it! Solid bones in need of cosmetic refresh and updates, but livable and ready for the next owner to give it the love it has been missing! Large, spacious Townhouse in southern New Milford, located in the rear of the complex on the most quiet cul-de-sac in the complex. Willow Springs offers many amenities such as a community pool and numerous recreational facilities. Now is the time to bite this apple of opportunity; they do not come around very often these days!

20. 2023-07-21
    soldstatus $250,000 Closed 509-char remark

    Show marketing remark (509 chars)

    Opportunity in a Seller's Market; This is it! Solid bones in need of cosmetic refresh and updates, but livable and ready for the next owner to give it the love it has been missing! Large, spacious Townhouse in southern New Milford, located in the rear of the complex on the most quiet cul-de-sac in the complex. Willow Springs offers many amenities such as a community pool and numerous recreational facilities. Now is the time to bite this apple of opportunity; they do not come around very often these days!

21. 2023-04-26
    historical Under Contract - Continue to Show 509-char remark

    Show marketing remark (509 chars)

    Opportunity in a Seller's Market; This is it! Solid bones in need of cosmetic refresh and updates, but livable and ready for the next owner to give it the love it has been missing! Large, spacious Townhouse in southern New Milford, located in the rear of the complex on the most quiet cul-de-sac in the complex. Willow Springs offers many amenities such as a community pool and numerous recreational facilities. Now is the time to bite this apple of opportunity; they do not come around very often these days!

22. 2023-04-20
    listed $249,900 Active 509-char remark

    Show marketing remark (509 chars)

    Opportunity in a Seller's Market; This is it! Solid bones in need of cosmetic refresh and updates, but livable and ready for the next owner to give it the love it has been missing! Large, spacious Townhouse in southern New Milford, located in the rear of the complex on the most quiet cul-de-sac in the complex. Willow Springs offers many amenities such as a community pool and numerous recreational facilities. Now is the time to bite this apple of opportunity; they do not come around very often these days!

23. 2006-01-13
    soldstatus $237,900

    Show marketing remark (248 chars)

    Well Maintained 2Br, 1.5 Ba Townhouse Situated Toward Rear Of Complex-Private Location.Huge Kitchen & Familyrm Area. Vaulted Ceiling In Lr W/Working Fp & Deck.Oversized Rooms.Storage In Unit.Ivory Ref Will Stay.Great Condition-Neutral Decor

24. 2005-11-08
    listed $239,900

    Show marketing remark (248 chars)

    Well Maintained 2Br, 1.5 Ba Townhouse Situated Toward Rear Of Complex-Private Location.Huge Kitchen & Familyrm Area. Vaulted Ceiling In Lr W/Working Fp & Deck.Oversized Rooms.Storage In Unit.Ivory Ref Will Stay.Great Condition-Neutral Decor

25. 2001-07-02
    soldstatus $137,900
26. 2001-05-05
    listed $137,900

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,186
• − Mortgage interest: −$17,919
• − Property taxes: −$4,798
• − Insurance: −$1,600
• − Repairs & maintenance: −$3,695
• − Management: −$3,695
• − HOA: −$5,196
• − Depreciation: −$9,306
• Taxable loss: −$23
• Est. tax savings @ 24.0%: +$6
• After-tax cash flow: $4,767/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

Fair 45/100 Cosmetic rehab

This townhouse is in fair condition with cosmetic updates needed. It offers a spacious layout and is ready for a fresh coat of paint and flooring upgrades to enhance its value.

Repairs flagged

• Minor Paint — Some wear on interior walls
• Minor Flooring — Carpeted floors in living areas, some wear

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace carpet with hardwood flooring — Improves flow and adds value
• Both Replace kitchen cabinets — Modernizes the space and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Some wear on interior walls	Minor	$500–3,000
Flooring · Carpeted floors in living areas, some wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace carpet with hardwood flooring — Improves flow and adds value ↑
• Both Replace kitchen cabinets — Modernizes the space and adds value ↑

ⓘ 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: New Milford School District
• NCES district ID: 0902850
• Math proficiency: 29% ▼ -22.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $81,576
• Composite: 35.78/100
• National rank: #4839
• State rank: #100 of 153 in CT

Livability — New Milford

• Score: 86/100
• State rank: #2
• US rank: #371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Litchfield County · 81,203 people
• City population: 27,010
• Metro: Torrington, CT
• Population (ZIP): 27,010
• Household income: $104,112
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 627.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 7% Black 4% Asian 4%
• Hispanic origin (detail): Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 3% Chinese 1%

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: ▼ -264.52%
• Current HPI: 305.6036
• Rent YoY: —
• Metro: Torrington, 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

+132.0% since first listed

10 events — show timeline

• 2026-06-10 Price Changed $319,900 Smart MLS
• 2026-05-13 Listed $324,900 Smart MLS
• 2023-07-21 Pending — Smart MLS
• 2023-07-21 Sold (MLS) $250,000 Smart MLS
• 2023-04-26 Contingent — Smart MLS
• 2023-04-20 Listed $249,900 Smart MLS
• 2006-01-13 Sold (MLS) $237,900 Smart MLS
• 2005-11-08 Listed $239,900 Smart MLS
• 2001-07-02 Sold (MLS) $137,900 Smart MLS
• 2001-05-05 Listed $137,900 Smart MLS