2 Sawmill Rd · Sherman, CT 06784

$390,000

3 bd · 2.0 ba · 1,479 sqft · SingleFamily public records · 73 Days on market

Built 1900 0.30 ac lot Est $559k · 30% under ↓ 2% since listing

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Why this score? — see what drove the C- 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 +11.0/30.0
• Appreciation +10.0/10.0
• Schools +5.6/10.0
• DSCR +3.2/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Circa 1900 antique property offering character, history, and opportunity, set on a picturesque parcel with a babbling brook. The home has seen additions over the years and features 3 bedrooms and 2 full baths, ready for restoration and updating. A detached twocar barn/garage includes a spacious loft and a basement workshop-ideal for hobbyists, storage, or future conversion possibilities. Both the house and outbuildings are in need of work, making this an excellent project for contractors, investors, or buyers looking to create their dream country retreat. Centrally located in desirable Sherman, close to town amenities, schools, and outdoor recreation. A charming setting with tremendous pote

Key facts

• Antique property
• Basement workshop
• Picturesque parcel

Tags

• ANTIQUE PROPERTY
• PICTURESQUE PARCEL
• BABBLING BROOK
• DETACHED BARN
• SPACIOUS LOFT
• BASEMENT WORKSHOP

Property features AI

Finance

• Other: Located in Fairfield County, Connecticut; Nearby amenities include golf course, lake, library, and park; Property is in a flood zone

Exterior

• Parking: Detached 2-car garage
• Utilities: Private well water; Septic system; Electric hot water; Oil fuel for heating
• Home design: Single-family home; Direct waterfront; Directions: Route 37 to Sawmill Rd
• Construction: Frame construction; Vinyl siding; Asphalt shingle roof; Block and stone foundation; Built as single-family residence
• Exterior features: Deck; Gutters; Brook on the property; Level to sloping lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating (oil-fired); Window air conditioning unit(s); Above-ground fuel tank
• Interior features: 5 total rooms; One fireplace; Partial, unfinished basement with hatchway
• Laundry & utility: Washer and dryer on main level; 40-gallon electric hot water tank

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $390k.

Deal economics

• At list price, monthly cash flow is $-164 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $361k (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (24.2% below list).
• Recommended offer: $295k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Sherman School District (rural): math 55% / reading 60% proficiency, ranked #87 of 192 in CT (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 5% free/reduced lunch — higher-income household profile.
• Zoned schools: Sherman School (math 57% / reading 67%, grade B, #137 of 553 statewide, top 28%, 264 students, 2% FRL) — zoned schools at 2% FRL track the district average.
• Market conditions: 43 active listings in the ZIP; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).

Forward outlook

• In year one you build about $42k of equity ($3k loan paydown + $39k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$67k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($367k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y 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 $315k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $295,485 (24.2% 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 73 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.76% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.81%
• DSCR: 0.92
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $559,062
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Short Ln	0.62mi	3/2.0	1,592 (+8%)	13mo	$570,000	$358	47
7 Hubbell Mountain Rd	0.73mi	2/2.0 (-1)	1,488 (+1%)	17mo	$562,000	$378	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.0%
• Equity multiple: 2.85×
• Total profit: $201,865
• Equity at exit: $351,343

10-year hold

• IRR: 20.5%
• Equity multiple: 6.52×
• Total profit: $602,535
• Equity at exit: $757,684

Cash invested: $109,200 (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 06784

• Home prices YoY: 5.1%
• Active inventory: 43
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,955 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$291 /mo · $3,491/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$621
• Net cashflow: $-164

Break-even live

Break-even rent $3,163

Max offer price $360,978

Occupancy floor —

Sensitivity live

Price	-10% $56	-5% $-54	+0% $-164	+5% $-275	+10% $-385
Rent	-10% $-398	-5% $-281	+0% $-164	+5% $-48	+10% $69
Rate	-1.0pp $32	-0.5pp $-65	base $-164	+0.5pp $-265	+1.0pp $-368

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $390,000 Active 73 DOM
2. 2026-06-18
   days on market $390,000 Active 72 DOM
3. 2026-06-17
   days on market $390,000 Active 71 DOM
4. 2026-06-16
   days on market $390,000 Active 70 DOM
5. 2026-06-15
   days on market $390,000 Active 69 DOM
6. 2026-06-14
   days on market $390,000 Active 67 DOM
7. 2026-06-13
   days on market $390,000 Active 66 DOM
8. 2026-06-10
   days on market $390,000 Active 64 DOM
9. 2026-06-09
   days on market $390,000 Active 63 DOM
10. 2026-06-08
    days on market $390,000 Active 62 DOM
11. 2026-06-07
    days on market $390,000 Active 61 DOM
12. 2026-06-02
    days on market $390,000 Active 56 DOM
13. 2026-06-01
    days on market $390,000 Active 55 DOM
14. 2026-05-31
    days on market $390,000 Active 54 DOM
15. 2026-05-30
    days on market $390,000 Active 53 DOM
16. 2026-04-07
    listed $390,000 Active
17. 2024-08-11
    historical
18. 2024-05-10
    listed $425,000 Active
19. 2024-05-01
    historical
20. 2024-01-30
    listed $450,000 Active
21. 2023-10-17
    historical
22. 2023-09-22
    listed $499,000 Active
23. 2014-09-27
    historical
24. 2014-06-24
    listed $299,000
25. 2012-10-29
    historical
26. 2012-09-24
    listed $299,000
27. 2012-02-01
    historical
28. 2011-08-03
    listed $345,000
29. 2008-03-04
    soldstatus $315,000
30. 2008-03-04
    soldstatus $315,000
31. 2008-02-29
    soldstatus $315,000
32. 2007-11-08
    listed $335,000
33. 2007-07-16
    historical
34. 2006-12-06
    listed $400,000

ⓘ 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: $3,491 · $291/mo
• Projected year-2 tax: $5,918 · $493/mo
• Expected delta: +$2,428/yr (+$202/mo · 69.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,458
• − Mortgage interest: −$21,846
• − Property taxes: −$3,491
• − Insurance: −$1,950
• − Repairs & maintenance: −$2,837
• − Management: −$2,837
• − Depreciation: −$11,345
• Taxable loss: −$8,848
• Est. tax savings @ 24.0%: +$2,123
• After-tax cash flow: $152/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: Sherman School District
• NCES district ID: 0904080
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $105,552
• Composite: 56.01/100
• National rank: #2563
• State rank: #87 of 192 in CT

Livability — Sherman

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

Census & demographics

• Census place: Sherman, CT
• City population: 3,525
• Population (ZIP): 3,525

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Romanian 5% Slovak 4% Italian 3%
• Foreign-born: 8% · Canada, China, Dominican Republic
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 4%

Political lean MEDSL · Western Connecticut

• 2024 margin: D (+19.1) · D 58.8% · R 39.7% · Other 1.6%
• All cycles: 2024: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.90%
• Current HPI: 284.0569
• 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

-2.5% since first listed

19 events — show timeline

• 2026-04-07 Listed $390,000 Smart MLS
• 2024-08-11 Listing Removed — Smart MLS
• 2024-05-10 Listed $425,000 Smart MLS
• 2024-05-01 Listing Removed — Smart MLS
• 2024-01-30 Listed $450,000 Smart MLS
• 2023-10-17 Listing Removed — Smart MLS
• 2023-09-22 Listed $499,000 Smart MLS
• 2014-09-27 Listing Removed — Smart MLS
• 2014-06-24 Listed $299,000 Smart MLS
• 2012-10-29 Listing Removed — Smart MLS
• 2012-09-24 Listed $299,000 Smart MLS
• 2012-02-01 Listing Removed — Smart MLS
• 2011-08-03 Listed $345,000 Smart MLS
• 2008-03-04 Sold (Public Records) $315,000 Public Records
• 2008-03-04 Sold (Public Records) $315,000 Public Records
• 2008-02-29 Sold (MLS) $315,000 Smart MLS
• 2007-11-08 Listed $335,000 Smart MLS
• 2007-07-16 Listing Removed — Smart MLS
• 2006-12-06 Listed $400,000 Smart MLS

Property tax history

-1.4%/yr

Latest (2023): $3,491 · -2.0% YoY. Source: county tax records.