15 North St · Madison, CT 06443

$79,999

1 bd · 0.5 ba · 540 sqft · SingleFamily · 76 Days on market

Built 1940 2,178 sqft lot $148/sqft · 58% below area $450/mo HOA · 21% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

seasonal cottage, must be purchased with CASH. The cottage is charming and a close walk to the beach and all that the town of Madison has to offer. Hammonassett Beach is a quick drive away. Conveniant to Route #1 and the local restaurants and shops. The cottage is one bedroom and one bathroom. This cottage is a perfect weekend destination or summer getaway, this is what coastal living in Madison has to offer! Come and see this gem now!

Key facts

• 2,178 sq ft lot
• Built 1940
• Listed 76 days

Tags

• CLOSE WALK TO THE BEACH
• CONVENIENT TO ROUTE #1
• LOCAL RESTAURANTS AND SHOPS

What this means for you Summary

Snapshot

• This is a 1-bed/0.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Madison School District (suburban): math 69% / reading 75% proficiency, ranked #10 of 153 in CT (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 3% free/reduced lunch — higher-income household profile.
• Market conditions: 105 active listings in the ZIP; 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 $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $80k implies a 344% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,199 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.62% ✓
• Cap rate: 16.09%
• Cash-on-cash: 35.01%
• DSCR: 2.56
• GRM: 3.2

CMA / ARV

• ARV (median comp): $191,126
• List price: $79,999
• Delta: -58.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
73 South St	0.04mi	1/1.0	523 (-3%)	7mo	$135,000	$258	85
63 South St	0.05mi	2/1.0 (+1)	571 (+6%)	15mo	$150,000	$263	69
9 Third St	0.13mi	1/1.0	520 (-4%)	22mo	$185,400	$357	67
6 First St	0.07mi	2/1.0 (+1)	612 (+13%)	1mo	$255,000	$417	67
28 1st St	0.11mi	1/1.0	470 (-13%)	9mo	$187,000	$398	63
18 First St	0.09mi	2/1.0 (+1)	576 (+7%)	19mo	$225,000	$391	62
48 East St	0.16mi	2/1.0 (+1)	480 (-11%)	9mo	$182,000	$379	59
45 East St	0.16mi	2/1.0 (+1)	604 (+12%)	11mo	$210,000	$348	57
133 W Main St Trlr C6	0.74mi	1/1.0	520 (-4%)	6mo	$13,000	$25	52
25 1st St	0.12mi	1/1.0	468 (-13%)	22mo	$185,000	$395	52

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: 30.8%
• Equity multiple: 2.29×
• Total profit: $28,964
• Equity at exit: $11,928

10-year hold

• IRR: 38.1%
• Equity multiple: 4.57×
• Total profit: $80,064
• Equity at exit: $6,917

Cash invested: $22,400 (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 06443

• Active inventory: 105
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $2,097 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$450
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $653

Break-even live

Break-even rent $1,269

Max offer price $79,999

Occupancy floor 64%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $450 · $5,400/yr

Listing history 34 events

1. 2026-06-18
   status $79,999 Under Contract 76 DOM
2. 2026-06-18
   days on market $79,999 Active 76 DOM
3. 2026-06-17
   days on market $79,999 Active 75 DOM
4. 2026-06-16
   days on market $79,999 Active 74 DOM
5. 2026-06-15
   days on market $79,999 Active 73 DOM
6. 2026-06-13
   days on market $79,999 Active 71 DOM
7. 2026-06-12
   days on market $79,999 Active 70 DOM
8. 2026-06-09
   days on market $79,999 Active 67 DOM
9. 2026-06-08
   days on market $79,999 Active 66 DOM
10. 2026-06-07
    days on market $79,999 Active 65 DOM
11. 2026-06-04
    pricedays on market $79,999 Active 61 DOM
12. 2026-06-02
    days on market $85,000 Active 60 DOM
13. 2026-06-01
    days on market $85,000 Active 59 DOM
14. 2026-05-31
    days on market $85,000 Active 58 DOM
15. 2026-05-31
    days on market $85,000 Active 57 DOM
16. 2026-05-01
    price $85,000 439-char remark

    Show marketing remark (439 chars)

    seasonal cottage, must be purchased with CASH. The cottage is charming and a close walk to the beach and all that the town of Madison has to offer. Hammonassett Beach is a quick drive away. Conveniant to Route #1 and the local restaurants and shops. The cottage is one bedroom and one bathroom. This cottage is a perfect weekend destination or summer getaway, this is what coastal living in Madison has to offer! Come and see this gem now!

17. 2026-04-24
    price $90,000 439-char remark

    Show marketing remark (439 chars)

    seasonal cottage, must be purchased with CASH. The cottage is charming and a close walk to the beach and all that the town of Madison has to offer. Hammonassett Beach is a quick drive away. Conveniant to Route #1 and the local restaurants and shops. The cottage is one bedroom and one bathroom. This cottage is a perfect weekend destination or summer getaway, this is what coastal living in Madison has to offer! Come and see this gem now!

18. 2026-04-03
    listed $100,000 Active 439-char remark

    Show marketing remark (439 chars)

    seasonal cottage, must be purchased with CASH. The cottage is charming and a close walk to the beach and all that the town of Madison has to offer. Hammonassett Beach is a quick drive away. Conveniant to Route #1 and the local restaurants and shops. The cottage is one bedroom and one bathroom. This cottage is a perfect weekend destination or summer getaway, this is what coastal living in Madison has to offer! Come and see this gem now!

19. 2025-10-01
    historical
20. 2025-09-17
    price $94,900
21. 2025-09-08
    price $99,900
22. 2025-09-03
    price $109,900
23. 2025-08-25
    status Active
24. 2025-08-13
    status Under Contract
25. 2025-08-04
    listed $114,900 Active
26. 2015-09-04
    soldstatus $18,000
27. 2015-08-26
    historical
28. 2015-04-06
    listed $25,000
29. 2014-12-16
    historical
30. 2014-05-16
    listed $35,000
31. 2007-09-11
    historical
32. 2006-11-01
    historical
33. 2006-10-13
    listed $49,000
34. 2005-10-19
    listed $59,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥92°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $25,159
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$2,013
• − Management: −$2,013
• − HOA: −$5,400
• − Depreciation: −$2,327
• Taxable income: $7,325
• Est. tax owed @ 24.0%: −$1,758
• After-tax cash flow: $6,083/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: Madison School District
• NCES district ID: 0902280
• Math proficiency: 69% ▲ 1.00%
• Reading proficiency: 75% ▲ 2.00%
• Median HH income: $103,788
• Composite: 66.15/100
• National rank: #435
• State rank: #10 of 153 in CT

Livability — Madison

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

Census & demographics

• Population (ZIP): 17,577

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Asian 4% Hispanic / Latino 3%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 92% English-only · Other Indo-European 2% Spanish 2% German/W. Germanic 1%

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: ▼ -375.58%
• Current HPI: 242.8467
• 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

+41.9% since first listed

19 events — show timeline

• 2026-05-01 Price Changed $85,000 Smart MLS
• 2026-04-24 Price Changed $90,000 Smart MLS
• 2026-04-03 Listed $100,000 Smart MLS
• 2025-10-01 Listing Removed — Smart MLS
• 2025-09-17 Price Changed $94,900 Smart MLS
• 2025-09-08 Price Changed $99,900 Smart MLS
• 2025-09-03 Price Changed $109,900 Smart MLS
• 2025-08-25 Relisted — Smart MLS
• 2025-08-13 Pending — Smart MLS
• 2025-08-04 Listed $114,900 Smart MLS
• 2015-09-04 Sold (MLS) $18,000 Smart MLS
• 2015-08-26 Listing Removed — Smart MLS
• 2015-04-06 Listed $25,000 Smart MLS
• 2014-12-16 Listing Removed — Smart MLS
• 2014-05-16 Listed $35,000 Smart MLS
• 2007-09-11 Listing Removed — Smart MLS
• 2006-11-01 Listing Removed — Smart MLS
• 2006-10-13 Listed $49,000 Smart MLS
• 2005-10-19 Listed $59,900 Smart MLS