39 Sullivan Rd · New Milford, CT 06776

$369,000

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 35 Days on market

Built 1962 0.46 ac lot $323/sqft · 6% above area Est $499k · 26% under

---

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 +16.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Livability +4.3/5.0
• 1% rule +4.2/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Highest and Best due by Monday May 18 at 11 am. * * Welcome to 39 Sullivan Rd. This three bedroom, ranch-style home, is conveniently located in southern New Milford just off of Route 7 making commuting as easy as possible. The finished lower level adds 500 SqFt. Additional features include a one-car garage, enclosed back deck and central air conditioning. Whether you are looking for a nice starter home or downsizing, this home is ready for you. Close to schools, shopping, restaraunts and more. Estate. Home is being sold "As is". Please make offer out to: Estate of Anthony M Marsicano on Standard Form Real Estate Contract with the wording: "Subject to Probate Tax Clear

Key facts

• Close to schools
• Close to restaurants
• Enclosed back deck

Tags

• ENCLOSED BACK DECK
• CENTRAL AIR CONDITIONING
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

Property features AI

Exterior

• Parking: Under-house garage (1 car)
• Utilities: Private well water; Septic sewage system; Oil fuel tank located in garage
• Home design: Single-family home
• Construction: Frame construction; Vinyl siding; Asphalt shingle roof; Concrete foundation; White exterior color
• Exterior features: Gutters; Covered deck; Lightly wooded, sloping lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heat powered by oil; Central air; Electric domestic hot water
• Interior features: Auto garage door opener; Partial, heated basement with interior access and garage access; Partially finished basement with some liveable space and a partial walk-out; Attic with hatch access
• Laundry & utility: Washer and Dryer; Laundry located in the garage (lower level)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $369k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $338k (8.4% below list).
• Recommended offer: $338k (8.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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.
• Zoned schools: Hill And Plain School (377 students, 47% FRL); New Milford High School (math 33% / reading 62%, grade D, #91 of 194 statewide, top 47%, 1,247 students, 31% FRL) — zoned schools average 39% FRL vs 15% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 147 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• This rent runs 39% 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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($358k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $236k; list at $369k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $338,090 (8.4% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• GRM: 9.1

CMA / ARV

• ARV (median comp): $498,526
• List price: $369,000
• Delta: -25.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 Lanesville Rd	0.51mi	3/2.0	1,290 (+13%)	1mo	$435,000	$337	50
134 Lone Oak Dr	0.63mi	3/1.0	1,212 (+6%)	22mo	$420,000	$347	42

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: -12.1%
• Equity multiple: 0.56×
• Total profit: $-45,303
• Equity at exit: $55,019

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-20,830
• Equity at exit: $31,904

Cash invested: $103,320 (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: 9.1×

Monthly cashflow live

• Estimated rent: $3,381 medium
• Mortgage (P&I): −$1,935
• Tax from tax record: −$354 /mo · $4,252/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$710
• Net cashflow: $228

Break-even live

Break-even rent $3,093

Max offer price $369,000

Occupancy floor 88%

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Willow Spgs #123 New Milford, CT	2.0	1.0	1025	$2,325	$2.27	43d	1	0.91mi
7 Haviland Rd New Milford, CT	2.0	2.0	1127	$3,050	$2.71	3d	1	0.95mi
67 Lake Lillinonah Rd N Bridgewater, CT	2.0	1.5	1152	$3,500	$3.04	43d	1	1.45mi
75 Lake Lillinonah Rd N Bridgewater, CT	2.0	2.0	1344	$7,500	$5.58	43d	1	1.48mi

Listing history 17 events

1. 2026-06-17
   status $369,000 Under Contract 35 DOM
2. 2026-06-16
   days on market $369,000 Under Contract - Continue to Show 35 DOM
3. 2026-06-15
   days on market $369,000 Under Contract - Continue to Show 34 DOM
4. 2026-06-14
   days on market $369,000 Under Contract - Continue to Show 32 DOM
5. 2026-06-13
   days on market $369,000 Under Contract - Continue to Show 31 DOM
6. 2026-06-10
   days on market $369,000 Under Contract - Continue to Show 29 DOM
7. 2026-06-09
   days on market $369,000 Under Contract - Continue to Show 28 DOM
8. 2026-06-08
   days on market $369,000 Under Contract - Continue to Show 27 DOM
9. 2026-06-07
   days on market $369,000 Under Contract - Continue to Show 26 DOM
10. 2026-06-05
    days on market $369,000 Under Contract - Continue to Show 23 DOM
11. 2026-06-03
    days on market $369,000 Under Contract - Continue to Show 22 DOM
12. 2026-06-02
    days on market $369,000 Under Contract - Continue to Show 21 DOM
13. 2026-06-01
    days on market $369,000 Under Contract - Continue to Show 20 DOM
14. 2026-05-31
    days on market $369,000 Under Contract - Continue to Show 19 DOM
15. 2026-05-30
    days on market $369,000 Under Contract - Continue to Show 18 DOM
16. 2026-05-02
    listed $369,000 Active 499-char remark
17. 2010-09-10
    soldstatus $236,500

ⓘ 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: $4,252 · $354/mo
• Projected year-2 tax: $6,074 · $506/mo
• Expected delta: +$1,822/yr (+$152/mo · 42.9%)

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

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 · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $40,571
• − Mortgage interest: −$20,670
• − Property taxes: −$4,252
• − Insurance: −$1,845
• − Repairs & maintenance: −$3,246
• − Management: −$3,246
• − Depreciation: −$10,735
• Taxable loss: −$3,422
• Est. tax savings @ 24.0%: +$821
• After-tax cash flow: $3,554/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: 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

+56.0% since first listed

4 events — show timeline

• 2026-06-16 Pending — Smart MLS
• 2026-05-19 Contingent — Smart MLS
• 2026-05-02 Listed $369,000 Smart MLS
• 2010-09-10 Sold (Public Records) $236,500 Public Records

Property tax history

+1.0%/yr

Latest (2023): $4,252 · +2.2% YoY. Source: county tax records.