170 Ross Rd · Middletown, CT 06481

$249,900

2 bd · 1.0 ba · 1,100 sqft · Other · 11 Days on market

Built 1960 0.92 ac lot

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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).

• Cash flow +13.6/30.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• Schools +5.2/10.0
• 1% rule +4.1/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Attention investors and builders! This oversized lot with two structures offers exceptional potential. This property is located in a desirable location in Middlefield and is ready for a full renovation. This home is being sold as-is and requires extensive rehab. A great opportunity for investors, builders, flippers, and or buyers looking to build equity through improvements. Whether you plan to renovate and resell or design a home tailored to your own style and needs, this property offers the chance to create something truly special. Cash or rehab financing will likely be required.

Key facts

• Extensive rehab
• Two structures
• Full renovation

Tags

• OVERSIZED LOT
• TWO STRUCTURES
• FULL RENOVATION
• EXTENSIVE REHAB

Property features AI

Finance

• Financial info: Assessed value: $159,900

Exterior

• Utilities: Private well water; Septic sewage system
• Home design: Single-family home for sale
• Construction: Frame construction; Concrete foundation
• Exterior features: Lightly wooded lot; Wood siding; Shingle roof

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Gravity warm air heating (oil-fired); Oil tank located in the basement; Hot water: other
• Interior features: Full unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $250k.

Deal economics

• At list price, monthly cash flow is $14 ($170/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 $228k (8.6% below list).
• Recommended offer: $228k (8.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.6% in Middletown — 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 81/100 on livability (#17 in CT, #1,390 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: commute F.
• Regional School District 13 (rural): math 49% / reading 62% proficiency, ranked #52 of 153 in CT (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 6% free/reduced lunch — higher-income household profile.
• Market conditions: 6 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($2k loan paydown + $4k appreciation (1.8% local appreciation)).
• At projected returns (1.8% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $228,492 (8.6% 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: 0.91% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.22×
• Total profit: $15,544
• Equity at exit: $95,841

10-year hold

• IRR: 8.0%
• Equity multiple: 2.07×
• Total profit: $74,525
• Equity at exit: $135,948

Cash invested: $69,972 (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 06481

• Home prices YoY: 1.1%
• Active inventory: 6
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,285 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$376 /mo · $4,516/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $14

Break-even live

Break-even rent $2,267

Max offer price $249,900

Occupancy floor 94%

Sensitivity live

Price	-10% $156	-5% $85	+0% $14	+5% $-57	+10% $-127
Rent	-10% $-166	-5% $-76	+0% $14	+5% $104	+10% $195
Rate	-1.0pp $140	-0.5pp $78	base $14	+0.5pp $-51	+1.0pp $-117

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 Ross Rd Rockfall, CT	2.0	2.0	1140	$1,900	$1.67	11d	1	0.15mi
121 Cherry Hill Rd Middlefield, CT	3.0	1.0	1068	$2,500	$2.34	24d	1	0.94mi
6 Nancy Ln Unit 1261565P Middlefield, CT	2.0	1.5	1194	$4,876	$4.08	15d	1	1.01mi
207 George St Middletown, CT	1.0–2.0	1.0–2.0	949	$2,717	$2.86	3d	23	1.03mi
1151 Washington St Middletown, CT	1.0–2.0	1.0	775	$1,842	$2.38	3d	20	1.19mi
1151 Washington St Middletown, CT	1.0–2.0	1.0	775	$1,894	$2.44	11d	18	1.19mi

Listing history 1 events

1. 2026-05-16
   listed $249,900 Active

ⓘ 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: $4,516 · $376/mo
• Projected year-2 tax: $4,932 · $411/mo
• Expected delta: +$416/yr (+$35/mo · 9.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $27,419
• − Mortgage interest: −$13,998
• − Property taxes: −$4,516
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,194
• − Management: −$2,194
• − Depreciation: −$7,270
• Taxable loss: −$4,002
• Est. tax savings @ 24.0%: +$960
• After-tax cash flow: $1,130/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 13
• NCES district ID: 0903535
• Math proficiency: 49% ▼ -13.00%
• Reading proficiency: 62% ▼ -10.00%
• Median HH income: $101,259
• Composite: 52.2/100
• National rank: #1606
• State rank: #52 of 153 in CT

Livability — Middletown

• Score: 81/100
• State rank: #17
• US rank: #1390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 46,720
• Population (ZIP): 1,644

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Asian 9% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 17% Scotch-Irish 9% Serbian 9%
• Foreign-born: 9% · Vietnam, Canada, Guatemala
• Languages at home: 89% English-only · Other Indo-European 4% Spanish 2% Vietnamese 2%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.80%
• Current HPI: 163.8225
• 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

1 event — show timeline

• 2026-05-16 Listed $249,900 Smart MLS

Property tax history

-1.4%/yr

Latest (2023): $4,516 · +2.5% YoY. Source: county tax records.