335 Cow Hill Rd · Old Mystic, CT 06355

$389,900

4 bd · 2.0 ba · 1,664 sqft · SingleFamily public records · 5 Days on market

Built 1960 0.28 ac lot Est $431k · 10% under

---

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 +14.9/30.0
• ARV discount +11.8/15.0
• DSCR +4.6/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 4 bedroom and 1.5 bath Colonial home has 1,664 sf and a detached garage. Warm up next to the wood pellet stove in the living room and take advantage of the counter and cabinet space in the kitchen! The laundry room is located on the main floor, with one of two back entrances. The second back entrance is located in the kitchen. Home also has a security system, storm doors, Thermopane windows, and central air throughout. Enjoy the amenities of several local parks only minutes away from home!

Key facts

• New furnace
• Anderson storm door
• New siding

Tags

• NEW ROOF
• NEW FURNACE
• NEW AC CONDENSER
• NEW SIDING
• NEW FRONT PORCH
• ANDERSON STORM DOOR

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $390k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/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 $327k (16.2% below list).
• Recommended offer: $327k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.3% in Old Mystic — 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 69/100 on livability (#106 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Groton School District (suburban): math 32% / reading 50% proficiency, ranked #96 of 153 in CT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northeast Academy Magnet School (math 42% / reading 62%, grade C-, #213 of 553 statewide, top 41%, 391 students, 27% FRL); Groton Middle School (math 28% / reading 47%, grade F, #112 of 175 statewide, top 66%, 907 students, 47% FRL); Robert E. Fitch High School (math 37% / reading 61%, grade D, #90 of 194 statewide, top 46%, 1,005 students, 43% FRL).
• Market conditions: 84 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 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 $12k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y 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 $225k; list at $390k implies a 73% gain — meaningful room to come down on a strong offer.

Recommended offer $326,858 (16.2% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.84% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.25%
• DSCR: 1.06
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $430,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
335 Cow Hill Rd	0.00mi	4/2.0	1,664 (0%)	1mo	$389,900	$234	99
122 Indigo St	0.19mi	3/2.0 (-1)	1,644 (-1%)	1mo	$450,000	$274	84
42 Cindy Ln	0.22mi	3/2.0 (-1)	1,638 (-2%)	11mo	$425,000	$259	73
85 Ann Ave	0.46mi	3/2.0 (-1)	1,572 (-6%)	7mo	$459,000	$292	59
439 Pequot Ave	0.73mi	3/1.5 (-1)	1,675 (+1%)	2mo	$752,035	$449	56
31 Bern Ct	0.41mi	3/1.5 (-1)	1,664 (0%)	23mo	$200,000	$120	55
175 Ledgeland Dr	0.20mi	3/2.5 (-1)	1,899 (+14%)	10mo	$557,000	$293	52
4 Bindloss Rd	0.65mi	3/2.0 (-1)	1,728 (+4%)	8mo	$500,000	$289	51
23 Fenwick Ct	0.49mi	4/2.0	1,419 (-15%)	7mo	$360,000	$254	47
2695 Gold Star Hwy	0.72mi	4/2.0	1,860 (+12%)	1mo	$260,000	$140	46
10 Amherst Ct	0.55mi	3/2.0 (-1)	1,890 (+14%)	1mo	$380,000	$201	46
76 Dartmouth Dr	0.52mi	3/2.0 (-1)	1,786 (+7%)	19mo	$410,000	$230	43

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-56,023
• Equity at exit: $58,135

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-39,815
• Equity at exit: $33,711

Cash invested: $109,172 (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 06355

• Home prices YoY: -17.8%
• Active inventory: 84
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $3,269 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$261 /mo · $3,135/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$686
• Net cashflow: $114

Break-even live

Break-even rent $3,125

Max offer price $389,900

Occupancy floor 92%

Sensitivity live

Price	-10% $335	-5% $224	+0% $114	+5% $3	+10% $-107
Rent	-10% $-144	-5% $-15	+0% $114	+5% $243	+10% $372
Rate	-1.0pp $310	-0.5pp $213	base $114	+0.5pp $13	+1.0pp $-90

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
98 Oslo St Mystic, CT	3.0	1.0	1152	$2,900	$2.52	13d	1	0.44mi
26 Academy Ln Mystic, CT	4.0	2.0	1858	$3,550	$1.91	45d	1	1.50mi

Listing history 10 events

1. 2026-03-28
   status Under Contract
2. 2026-03-23
   listed $389,900 Active
3. 2020-07-02
   soldstatus $225,000
4. 2020-07-01
   soldstatus $225,000 Closed 499-char remark

   Show marketing remark (499 chars)

   This 4 bedroom and 1.5 bath Colonial home has 1,664 sf and a detached garage. Warm up next to the wood pellet stove in the living room and take advantage of the counter and cabinet space in the kitchen! The laundry room is located on the main floor, with one of two back entrances. The second back entrance is located in the kitchen. Home also has a security system, storm doors, Thermopane windows, and central air throughout. Enjoy the amenities of several local parks only minutes away from home!

5. 2020-05-27
   status Under Contract 499-char remark

   Show marketing remark (499 chars)

   This 4 bedroom and 1.5 bath Colonial home has 1,664 sf and a detached garage. Warm up next to the wood pellet stove in the living room and take advantage of the counter and cabinet space in the kitchen! The laundry room is located on the main floor, with one of two back entrances. The second back entrance is located in the kitchen. Home also has a security system, storm doors, Thermopane windows, and central air throughout. Enjoy the amenities of several local parks only minutes away from home!

6. 2020-05-19
   historical Under Contract - Continue to Show 499-char remark

   Show marketing remark (499 chars)

   This 4 bedroom and 1.5 bath Colonial home has 1,664 sf and a detached garage. Warm up next to the wood pellet stove in the living room and take advantage of the counter and cabinet space in the kitchen! The laundry room is located on the main floor, with one of two back entrances. The second back entrance is located in the kitchen. Home also has a security system, storm doors, Thermopane windows, and central air throughout. Enjoy the amenities of several local parks only minutes away from home!

7. 2020-03-17
   listed $235,000 Active 499-char remark

   Show marketing remark (499 chars)

   This 4 bedroom and 1.5 bath Colonial home has 1,664 sf and a detached garage. Warm up next to the wood pellet stove in the living room and take advantage of the counter and cabinet space in the kitchen! The laundry room is located on the main floor, with one of two back entrances. The second back entrance is located in the kitchen. Home also has a security system, storm doors, Thermopane windows, and central air throughout. Enjoy the amenities of several local parks only minutes away from home!

8. 2011-06-27
   soldstatus $160,000
9. 2011-06-24
   soldstatus $160,000 259-char remark

   Show marketing remark (259 chars)

   Spacious & lovingly maintained 4br/2ba 1,664 sf raised ranch. Excellent location at an affordable price. Close to everything! Lovely yard w/hundreds of flowers! Oversized 1-car garage. Seller providing a 1 year home warranty - call your agent for details!

10. 2011-04-25
    listed $180,000 259-char remark

    Show marketing remark (259 chars)

    Spacious & lovingly maintained 4br/2ba 1,664 sf raised ranch. Excellent location at an affordable price. Close to everything! Lovely yard w/hundreds of flowers! Oversized 1-car garage. Seller providing a 1 year home warranty - call your agent for details!

ⓘ 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: $3,135 · $261/mo
• Projected year-2 tax: $5,739 · $478/mo
• Expected delta: +$2,604/yr (+$217/mo · 83.1%)

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

Taxation est. · year 1

• Rental income: $39,223
• − Mortgage interest: −$21,840
• − Property taxes: −$3,135
• − Insurance: −$1,950
• − Repairs & maintenance: −$3,138
• − Management: −$3,138
• − Depreciation: −$11,343
• Taxable loss: −$5,320
• Est. tax savings @ 24.0%: +$1,277
• After-tax cash flow: $2,642/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: Groton School District
• NCES district ID: 0901770
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $60,709
• Composite: 36.28/100
• National rank: #4702
• State rank: #96 of 153 in CT

Livability — Old Mystic

• Score: 69/100
• State rank: #106
• US rank: #9037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Old Mystic, CT
• County: New London County · 147,197 people
• Metro: Norwich-New London, CT
• Population (ZIP): 12,173
• Household income: $137,425
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 197.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 9% Asian 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 6% Romanian 6% Slovak 5%
• Foreign-born: 7% · Canada, China
• Languages at home: 94% English-only · Other Indo-European 2% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Southeastern Connecticut

• 2024 margin: D (+13.0) · D 55.6% · R 42.6% · Other 1.8%
• All cycles: 2024: D+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.46%
• Current HPI: 287.7568
• Rent YoY: —
• Metro: Norwich-New London, 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

+116.6% since first listed

10 events — show timeline

• 2026-03-28 Pending — Smart MLS
• 2026-03-23 Listed $389,900 Smart MLS
• 2020-07-02 Sold (Public Records) $225,000 Public Records
• 2020-07-01 Sold (MLS) $225,000 Smart MLS
• 2020-05-27 Pending — Smart MLS
• 2020-05-19 Contingent — Smart MLS
• 2020-03-17 Listed $235,000 Smart MLS
• 2011-06-27 Sold (Public Records) $160,000 Public Records
• 2011-06-24 Sold (MLS) $160,000 Smart MLS
• 2011-04-25 Listed $180,000 Smart MLS

Property tax history

+2.1%/yr

Latest (2022): $3,135 · +10.5% YoY. Source: county tax records.