968 Heritage Vlg Unit A · Heritage Village, CT 06488

$215,000

2 bd · 2.0 ba · 1,071 sqft · Condo public records · 122 Days on market

Built 1973 $201/sqft · 18% below area Est $263k · 18% under $783/mo HOA · 33% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +5.9/30.0
• 1% rule +5.9/10.0
• Schools +5.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just Reduced! This "Winthrop" model is located in the Hill Top area. Walking distance to pool and pickleball courts. Bright living room with a wood-burning fireplace, an extra window and an upgraded Pella slider leading to a semi-private patio. Bring your personal touch and make this condo your own in the sought-after, 55+ Heritage Village community.

Key facts

• Semi-private patio
• $783 HOA
• Garage

Tags

• WALKING DISTANCE TO POOL
• WOOD-BURNING FIREPLACE
• UPGRADED PELLA SLIDER
• SEMI-PRIVATE PATIO
• 55 HERITAGE VILLAGE COMMUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-422 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (34.7% below list).
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $140k (34.7% below list) — sets the bar for cash-flow.
• Cap rate 3.9% vs local median 3.0% in Heritage Village — 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 68/100 on livability (#112 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: schools D+, employment D, amenities F.
• Regional School District 15 (suburban): math 56% / reading 64% proficiency, ranked #46 of 153 in CT (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 4% free/reduced lunch — higher-income household profile.
• Market conditions: 156 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $34k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $215k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.

Recommended offer $140,394 (34.7% 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 122 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 1.09% ✓
• Cap rate: 3.94%
• Cash-on-cash: -8.42%
• DSCR: 0.63
• GRM: 7.6

CMA / ARV

• ARV (median comp): $263,308
• List price: $215,000
• Delta: -18.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -30.7%
• Equity multiple: -0.02×
• Total profit: $-61,218
• Equity at exit: $32,057

10-year hold

• IRR: -31.6%
• Equity multiple: -0.43×
• Total profit: $-85,834
• Equity at exit: $18,589

Cash invested: $60,200 (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 06488

• Active inventory: 156
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,343 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$273 /mo · $3,278/yr
• Insurance: −$90
• HOA: −$783
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $-422

Break-even live

Break-even rent $2,878

Max offer price $140,394

Occupancy floor —

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
593 Heritage Vlg Unit D Southbury, CT	2.0	2.0	1044	$2,300	$2.20	23d	1	0.66mi
235 Heritage Vlg Unit B Southbury, CT	1.0	1.0	928	$2,100	$2.26	23d	1	0.95mi
576 Village St Unit D Southbury, CT	2.0	2.0	1044	$2,400	$2.30	3d	1	1.05mi
576 Village St Unit D Southbury, CT	2.0	2.0	1044	$2,400	$2.30	23d	1	1.05mi
27 Heritage Vlg Unit B Southbury, CT	2.0	2.0	1432	$2,600	$1.82	11d	1	1.07mi

HOA detail condo

• Monthly dues: $783 · $9,396/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-03
   statusdays on market $215,000 Under Contract 122 DOM
2. 2026-06-01
   days on market $215,000 Under Contract - Continue to Show 121 DOM
3. 2026-05-31
   days on market $215,000 Under Contract - Continue to Show 120 DOM
4. 2026-05-19
   historical Under Contract - Continue to Show 362-char remark

   Show marketing remark (362 chars)

   Just Reduced! This "Winthrop" model is located in the Hill Top area. Walking distance to pool and pickleball courts. Bright living room with a wood-burning fireplace, an extra window and an upgraded Pella slider leading to a semi-private patio. Bring your personal touch and make this condo your own in the sought-after, 55+ Heritage Village community.

5. 2026-05-15
   price $215,000 362-char remark

   Show marketing remark (362 chars)

   Just Reduced! This "Winthrop" model is located in the Hill Top area. Walking distance to pool and pickleball courts. Bright living room with a wood-burning fireplace, an extra window and an upgraded Pella slider leading to a semi-private patio. Bring your personal touch and make this condo your own in the sought-after, 55+ Heritage Village community.

6. 2026-04-27
   price $225,000 362-char remark

   Show marketing remark (362 chars)

   Just Reduced! This "Winthrop" model is located in the Hill Top area. Walking distance to pool and pickleball courts. Bright living room with a wood-burning fireplace, an extra window and an upgraded Pella slider leading to a semi-private patio. Bring your personal touch and make this condo your own in the sought-after, 55+ Heritage Village community.

7. 2026-01-31
   listed $249,000 Active 362-char remark

   Show marketing remark (362 chars)

   Just Reduced! This "Winthrop" model is located in the Hill Top area. Walking distance to pool and pickleball courts. Bright living room with a wood-burning fireplace, an extra window and an upgraded Pella slider leading to a semi-private patio. Bring your personal touch and make this condo your own in the sought-after, 55+ Heritage Village community.

8. 2018-05-15
   soldstatus $125,000
9. 2018-05-11
   historical 671-char remark

   Show marketing remark (671 chars)

   Great Hilltop location! Sought after Winthrop model in a park like setting! With your own private entry. Natural bright light and sunny home. Fully appliance kitchen. Enjoy fireplace from living/dining room area with sliding glass door. Added window in living room area provides extra light. 2 bedrooms and 2 full bath. Pella windows, baseboard heat with separate thermostat in each room. Washer and dryer in unit. Newer central air unit. Short walk to garage. Heritage Village is a lifestyle with so much to offer: clubs, tennis, 4 pools, health club, easy access to Highways. All buyers must pay 1 time equity fee of $1,500.00 to Heritage Village Foundation at closing.

10. 2018-05-11
    soldstatus $125,000 Closed 671-char remark

    Show marketing remark (671 chars)

    Great Hilltop location! Sought after Winthrop model in a park like setting! With your own private entry. Natural bright light and sunny home. Fully appliance kitchen. Enjoy fireplace from living/dining room area with sliding glass door. Added window in living room area provides extra light. 2 bedrooms and 2 full bath. Pella windows, baseboard heat with separate thermostat in each room. Washer and dryer in unit. Newer central air unit. Short walk to garage. Heritage Village is a lifestyle with so much to offer: clubs, tennis, 4 pools, health club, easy access to Highways. All buyers must pay 1 time equity fee of $1,500.00 to Heritage Village Foundation at closing.

11. 2018-04-24
    status Under Contract 671-char remark

    Show marketing remark (671 chars)

    Great Hilltop location! Sought after Winthrop model in a park like setting! With your own private entry. Natural bright light and sunny home. Fully appliance kitchen. Enjoy fireplace from living/dining room area with sliding glass door. Added window in living room area provides extra light. 2 bedrooms and 2 full bath. Pella windows, baseboard heat with separate thermostat in each room. Washer and dryer in unit. Newer central air unit. Short walk to garage. Heritage Village is a lifestyle with so much to offer: clubs, tennis, 4 pools, health club, easy access to Highways. All buyers must pay 1 time equity fee of $1,500.00 to Heritage Village Foundation at closing.

12. 2018-03-10
    historical Under Contract - Continue to Show 671-char remark

    Show marketing remark (671 chars)

    Great Hilltop location! Sought after Winthrop model in a park like setting! With your own private entry. Natural bright light and sunny home. Fully appliance kitchen. Enjoy fireplace from living/dining room area with sliding glass door. Added window in living room area provides extra light. 2 bedrooms and 2 full bath. Pella windows, baseboard heat with separate thermostat in each room. Washer and dryer in unit. Newer central air unit. Short walk to garage. Heritage Village is a lifestyle with so much to offer: clubs, tennis, 4 pools, health club, easy access to Highways. All buyers must pay 1 time equity fee of $1,500.00 to Heritage Village Foundation at closing.

13. 2018-02-25
    status Active 671-char remark

    Show marketing remark (671 chars)

    Great Hilltop location! Sought after Winthrop model in a park like setting! With your own private entry. Natural bright light and sunny home. Fully appliance kitchen. Enjoy fireplace from living/dining room area with sliding glass door. Added window in living room area provides extra light. 2 bedrooms and 2 full bath. Pella windows, baseboard heat with separate thermostat in each room. Washer and dryer in unit. Newer central air unit. Short walk to garage. Heritage Village is a lifestyle with so much to offer: clubs, tennis, 4 pools, health club, easy access to Highways. All buyers must pay 1 time equity fee of $1,500.00 to Heritage Village Foundation at closing.

14. 2018-02-02
    historical Under Contract - Continue to Show 671-char remark

    Show marketing remark (671 chars)

    Great Hilltop location! Sought after Winthrop model in a park like setting! With your own private entry. Natural bright light and sunny home. Fully appliance kitchen. Enjoy fireplace from living/dining room area with sliding glass door. Added window in living room area provides extra light. 2 bedrooms and 2 full bath. Pella windows, baseboard heat with separate thermostat in each room. Washer and dryer in unit. Newer central air unit. Short walk to garage. Heritage Village is a lifestyle with so much to offer: clubs, tennis, 4 pools, health club, easy access to Highways. All buyers must pay 1 time equity fee of $1,500.00 to Heritage Village Foundation at closing.

15. 2018-01-31
    listed $125,000 Active 671-char remark

    Show marketing remark (671 chars)

    Great Hilltop location! Sought after Winthrop model in a park like setting! With your own private entry. Natural bright light and sunny home. Fully appliance kitchen. Enjoy fireplace from living/dining room area with sliding glass door. Added window in living room area provides extra light. 2 bedrooms and 2 full bath. Pella windows, baseboard heat with separate thermostat in each room. Washer and dryer in unit. Newer central air unit. Short walk to garage. Heritage Village is a lifestyle with so much to offer: clubs, tennis, 4 pools, health club, easy access to Highways. All buyers must pay 1 time equity fee of $1,500.00 to Heritage Village Foundation at closing.

16. 2014-08-25
    soldstatus $107,000
17. 2004-10-12
    soldstatus $165,000

ⓘ 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: $3,278 · $273/mo
• Projected year-2 tax: $3,940 · $328/mo
• Expected delta: +$662/yr (+$55/mo · 20.2%)

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

Taxation est. · year 1

• Rental income: $28,115
• − Mortgage interest: −$12,043
• − Property taxes: −$3,278
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,249
• − Management: −$2,249
• − HOA: −$9,396
• − Depreciation: −$6,255
• Taxable loss: −$8,430
• Est. tax savings @ 24.0%: +$2,023
• After-tax cash flow: $-3,045/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: Regional School District 15
• NCES district ID: 0903537
• Math proficiency: 56% ▼ -15.00%
• Reading proficiency: 64% ▼ -11.00%
• Median HH income: $84,697
• Composite: 54.36/100
• National rank: #1361
• State rank: #46 of 153 in CT

Livability — Heritage Village

• Score: 68/100
• State rank: #112
• US rank: #9662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Heritage Village, CT
• City population: 19,973
• Population (ZIP): 19,973

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 7% Asian 3% Black 2%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 8% · China, Canada, Jamaica
• Languages at home: 89% English-only · Spanish 4% Chinese 2% Other Indo-European 2%

Political lean MEDSL · Naugatuck Valley

• 2024 margin: Lean R (+7.4) · D 45.6% · R 53.0% · Other 1.4%
• All cycles: 2024: R+7.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -124.35%
• Current HPI: 165.0514
• 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

+30.3% since first listed

14 events — show timeline

• 2026-05-19 Contingent — Smart MLS
• 2026-05-15 Price Changed $215,000 Smart MLS
• 2026-04-27 Price Changed $225,000 Smart MLS
• 2026-01-31 Listed $249,000 Smart MLS
• 2018-05-15 Sold (Public Records) $125,000 Public Records
• 2018-05-11 Listing Removed — Smart MLS
• 2018-05-11 Sold (MLS) $125,000 Smart MLS
• 2018-04-24 Pending — Smart MLS
• 2018-03-10 Contingent — Smart MLS
• 2018-02-25 Relisted — Smart MLS
• 2018-02-02 Contingent — Smart MLS
• 2018-01-31 Listed $125,000 Smart MLS
• 2014-08-25 Sold (Public Records) $107,000 Public Records
• 2004-10-12 Sold (Public Records) $165,000 Public Records

Property tax history

+5.9%/yr

Latest (2023): $3,278 · +38.7% YoY. Source: county tax records.