38 Mettler St · Woodbridge, CT 06525

$489,000

4 bd · 2.0 ba · 1,666 sqft · MultiFamily public records · 32 Days on market

Built 1965 6,098 sqft lot Est $367k · 33% over

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Why this score? — see what drove the F 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 +11.5/30.0
• Schools +7.1/10.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Located in desirable town of Woodbridge and served by the award-winning Amity Regional School District, this well-maintained two-family home offers a fantastic opportunity for both investors and owner-occupants. Each unit features 2 bedrooms and 1 full bathroom, with units conveniently situated on separate floors for added privacy. The second-floor unit has been fully renovated, showcasing updated finishes and modern appeal. Both units offer comfortable living spaces, gas heat, and strong rental or multi-generational living potential. Ideally located in a quiet residential setting while remaining close to shopping, dining, and commuter routes, this property combines flexibility, value, and

Key facts

• Fully renovated
• Updated finishes
• Modern appeal

Tags

• TWO-FAMILY HOME
• FULLY RENOVATED
• UPDATED FINISHES
• MODERN APPEAL
• STRONG RENTAL POTENTIAL
• QUIET RESIDENTIAL SETTING

Property features AI

Finance

• Financial info: Multi-family for sale (2 units)

Exterior

• Parking: Off-street parking; Driveway parking; Paved parking; 4 total parking spaces
• Utilities: Public water; Public sewer; Natural gas service; Thermopane windows for energy efficiency
• Home design: Multi-family 2-family property
• Construction: Built with frame construction; Aluminum siding; Asphalt shingle roof; Concrete foundation; Blue exterior color
• Exterior features: Corner, level lot; Paved asphalt driveway; Public water connected; Public sewer connected; Thermopane windows

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating; Natural gas hot water
• Interior features: 8 total rooms; Full unfinished basement
• Laundry & utility: Basement laundry hook-ups

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $489k.

Deal economics

• At list price, monthly cash flow is $-158 ($-2k/yr) — negative. Per door: $-79/mo.
• To cash-flow at today's rent, offer at most $461k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $406k (16.9% below list).
• Recommended offer: $406k (16.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Woodbridge School District (suburban): math 71% / reading 79% proficiency, ranked #5 of 153 in CT (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Beecher Road School (math 71% / reading 79%, grade A, #43 of 553 statewide, top 8%, 847 students, 14% FRL); Amity Middle School: Bethany (math 56% / reading 70%, grade B+, #34 of 175 statewide, top 20%, 365 students, 16% FRL); Amity Regional High School (math 52% / reading 82%, grade B, #26 of 194 statewide, top 16%, 1,318 students, 13% FRL).
• Market conditions: 59 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 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

• It's been on market 32 days — a 3% lower offer ($474k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $150k; list at $489k implies a 226% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $406,300 (16.9% 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. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $366,520
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Bank St	0.30mi	4/2.0	1,600 (-4%)	8mo	$327,000	$204	73
38 Hilltop Rd	0.53mi	4/2.0	1,728 (+4%)	0mo	$380,000	$220	69
37 Landin St	0.07mi	3/3.0 (-1)	1,504 (-10%)	8mo	$450,000	$299	64
13 Valley Pl N	0.74mi	4/2.0	1,728 (+4%)	1mo	$320,000	$185	59
26 Manila Ave	0.21mi	5/3.0 (+1)	1,824 (+10%)	20mo	$410,000	$225	49
4 Hilltop Rd	0.50mi	5/2.0 (+1)	1,898 (+14%)	1mo	$410,000	$216	48

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: -18.6%
• Equity multiple: 0.35×
• Total profit: $-89,228
• Equity at exit: $72,911

10-year hold

• IRR: -10.9%
• Equity multiple: 0.34×
• Total profit: $-90,411
• Equity at exit: $42,280

Cash invested: $136,920 (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 06525

• Active inventory: 59
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $4,063 high
• Mortgage (P&I): −$2,564
• Tax from tax record: −$599 /mo · $7,192/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$853
• Net cashflow: $-158

Break-even live

Break-even rent $4,263

Max offer price $461,145

Occupancy floor 99%

Sensitivity live

Price	-10% $119	-5% $-19	+0% $-158	+5% $-296	+10% $-434
Rent	-10% $-479	-5% $-318	+0% $-158	+5% $3	+10% $163
Rate	-1.0pp $89	-0.5pp $-33	base $-158	+0.5pp $-284	+1.0pp $-413

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,064
Total (2 units)			$4,063

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38 Landin St Unit 2 Woodbridge, CT	3.0	1.0	1316	$2,200	$1.67	4d	1	0.02mi
8 Miles Ave Apt A Woodbridge, CT	3.0	1.5	1200	$2,600	$2.17	22d	1	0.10mi
27 Manila Ave Woodbridge, CT	3.0	1.0	1200	$2,590	$2.16	4d	1	0.23mi
52 Davis St New Haven, CT	4.0	1.5	1635	$2,995	$1.83	4d	1	0.93mi
30 Maplewood Rd New Haven, CT	3.0	1.5	1870	$910	$0.49	25d	1	1.02mi
39 Pardee Pl New Haven, CT	4.0	2.0	2004	$2,850	$1.42	20d	1	1.06mi
119 Brooklawn Cir New Haven, CT	4.0	3.0	2052	$3,200	$1.56	12d	1	1.11mi
155 Lakeview Ter New Haven, CT	3.0	2.5	1625	$2,950	$1.82	20d	1	1.14mi
253 W Elm St Unit 2 New Haven, CT	3.0	1.0	1434	$2,650	$1.85	4d	1	1.37mi

Listing history 17 events

1. 2026-06-21
   days on market $489,000 Active 32 DOM
2. 2026-06-18
   days on market $489,000 Active 29 DOM
3. 2026-06-17
   days on market $489,000 Active 28 DOM
4. 2026-06-16
   days on market $489,000 Active 27 DOM
5. 2026-06-15
   days on market $489,000 Active 26 DOM
6. 2026-06-14
   days on market $489,000 Active 24 DOM
7. 2026-06-13
   days on market $489,000 Active 23 DOM
8. 2026-06-10
   days on market $489,000 Active 21 DOM
9. 2026-06-09
   days on market $489,000 Active 20 DOM
10. 2026-06-08
    days on market $489,000 Active 19 DOM
11. 2026-06-07
    days on market $489,000 Active 18 DOM
12. 2026-06-03
    days on market $489,000 Active 14 DOM
13. 2026-06-03
    days on market $489,000 Active 13 DOM
14. 2026-06-01
    days on market $489,000 Active 12 DOM
15. 2026-05-31
    days on market $489,000 Active 11 DOM
16. 2026-05-20
    listed $489,000 Active
17. 1991-07-19
    soldstatus $150,000

ⓘ 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: $7,192 · $599/mo
• Projected year-2 tax: $8,828 · $736/mo
• Expected delta: +$1,636/yr (+$136/mo · 22.8%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,756
• − Mortgage interest: −$27,392
• − Property taxes: −$7,192
• − Insurance: −$2,445
• − Repairs & maintenance: −$3,900
• − Management: −$3,900
• − Depreciation: −$14,225
• Taxable loss: −$10,299
• Est. tax savings @ 24.0%: +$2,472
• After-tax cash flow: $580/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: Woodbridge School District
• NCES district ID: 0905310
• Math proficiency: 71% ▼ -3.00%
• Reading proficiency: 79% ▼ -1.00%
• Median HH income: $133,177
• Composite: 71.44/100
• National rank: #226
• State rank: #5 of 153 in CT

Livability — Woodbridge

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 9,041

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Asian 10% Two or more races 6% Hispanic / Latino 6% Black 3%
• Hispanic origin (detail): Puerto Rican 3% Salvadoran 1%
• Common ancestry: Romanian 7% Scotch-Irish 3% Italian 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 84% English-only · Other Indo-European 5% Chinese 3% Spanish 3%

Political lean MEDSL · South Central Connecticut

• 2024 margin: Strong D (+20.1) · D 59.0% · R 38.9% · Other 2.1%
• All cycles: 2024: D+20.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.37%
• Current HPI: 211.2985
• 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

+226.0% since first listed

2 events — show timeline

• 2026-05-20 Listed $489,000 Smart MLS
• 1991-07-19 Sold (Public Records) $150,000 Public Records

Property tax history

+3.9%/yr

Latest (2023): $7,192 · +3.0% YoY. Source: county tax records.