499 Heritage Vlg Unit C · Southbury, CT 06488

$217,500

2 bd · 2.0 ba · 1,044 sqft · Condo public records · 231 Days on market

Built 1971 $208/sqft · 8% below area Est $237k · 8% under $647/mo HOA · 27% 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 +11.2/15.0
• Cash flow +7.9/30.0
• 1% rule +5.9/10.0
• Schools +5.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the peaceful Winship area of Heritage Village, this two-bedroom, two-bath condominium offers comfortable single-level living and a private outdoor deck surrounded by mature landscaping. The bright living area includes a wood-burning fireplace and sliding doors opening to the deck, creating a relaxing indoor-outdoor connection. The updated hall bath features a new BathFitter shower enclosure installed within the past three years. The bright and clean galley kitchen provides ample cabinetry with room for a breakfast table. A convenient in-unit washer and dryer sit next to the primary bedroom suite, which includes generous closet space and an en-suite bath. Ample storage throughout, with hallway coat closet, as well as additional storage closets in both bedrooms! The unit includes an assigned detached garage just a short distance from the building, and additional guest parking nearby. Heritage Village amenities include pools, tennis and pickleball courts, community gardens, walking paths, and a clubhouse. Approximately 0.8 miles to ShopRite and Stop & Shop and 2.5 miles to Southford Falls State Park, with nearby restaurants and everyday conveniences close at hand.

Key facts

• Ample cabinetry
• Updated hall bath
• Private outdoor deck

Tags

• PRIVATE OUTDOOR DECK
• WOOD BURNING FIREPLACE
• UPDATED HALL BATH
• AMPLE CABINETRY
• IN UNIT WASHER AND DRYER
• GENEROUS CLOSET SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $218k.

Deal economics

• At list price, monthly cash flow is $-233 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (18.9% below list).
• Meets the 1% rule at list price ($2k rent vs $218k).
• Recommended offer: $176k (18.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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 25d 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $42k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $176,296 (18.9% 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 231 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — 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. 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?
9. 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.
10. 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.
11. 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: 5.01%
• Cash-on-cash: -4.60%
• DSCR: 0.80
• GRM: 7.6

CMA / ARV

• ARV (median comp): $236,810
• List price: $217,500
• Delta: -8.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -23.8%
• Equity multiple: 0.18×
• Total profit: $-49,693
• Equity at exit: $32,430

10-year hold

• IRR: -18.2%
• Equity multiple: 0.00×
• Total profit: $-60,747
• Equity at exit: $18,805

Cash invested: $60,900 (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: $2,372 high
• Mortgage (P&I): −$1,141
• Tax from tax record: −$229 /mo · $2,747/yr
• Insurance: −$91
• HOA: −$647
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $-233

Break-even live

Break-even rent $2,667

Max offer price $176,296

Occupancy floor —

Sensitivity live

Price	-10% $-110	-5% $-172	+0% $-233	+5% $-295	+10% $-356
Rent	-10% $-421	-5% $-327	+0% $-233	+5% $-140	+10% $-46
Rate	-1.0pp $-124	-0.5pp $-178	base $-233	+0.5pp $-290	+1.0pp $-347

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: $54,375
• Closing costs: $6,525
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
576 Village St Unit D Southbury, CT	2.0	2.0	1044	$2,400	$2.30	4d	1	0.63mi
576 Village St Unit D Southbury, CT	2.0	2.0	1044	$2,400	$2.30	24d	1	0.63mi
27 Heritage Vlg Unit B Southbury, CT	2.0	2.0	1432	$2,600	$1.82	12d	1	0.92mi
593 Heritage Vlg Unit D Southbury, CT	2.0	2.0	1044	$2,300	$2.20	24d	1	1.05mi
235 Heritage Vlg Unit B Southbury, CT	1.0	1.0	928	$2,100	$2.26	24d	1	1.21mi

HOA detail condo

• Monthly dues: $647 · $7,764/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $217,500 Active 231 DOM
2. 2026-06-17
   days on market $217,500 Active 230 DOM
3. 2026-06-16
   days on market $217,500 Active 229 DOM
4. 2026-06-15
   days on market $217,500 Active 228 DOM
5. 2026-06-14
   days on market $217,500 Active 226 DOM
6. 2026-06-13
   days on market $217,500 Active 225 DOM
7. 2026-06-10
   days on market $217,500 Active 223 DOM
8. 2026-06-09
   days on market $217,500 Active 222 DOM
9. 2026-06-08
   days on market $217,500 Active 221 DOM
10. 2026-06-07
    pricedays on market $217,500 Active 220 DOM
11. 2026-06-03
    days on market $229,750 Active 216 DOM
12. 2026-06-03
    days on market $229,750 Active 215 DOM
13. 2026-06-01
    days on market $229,750 Active 214 DOM
14. 2026-05-31
    days on market $229,750 Active 213 DOM
15. 2026-04-08
    price $229,750 1194-char remark

    Show marketing remark (1194 chars)

    Located in the peaceful Winship area of Heritage Village, this two-bedroom, two-bath condominium offers comfortable single-level living and a private outdoor deck surrounded by mature landscaping. The bright living area includes a wood-burning fireplace and sliding doors opening to the deck, creating a relaxing indoor-outdoor connection. The updated hall bath features a new BathFitter shower enclosure installed within the past three years. The bright and clean galley kitchen provides ample cabinetry with room for a breakfast table. A convenient in-unit washer and dryer sit next to the primary bedroom suite, which includes generous closet space and an en-suite bath. Ample storage throughout, with hallway coat closet, as well as additional storage closets in both bedrooms! The unit includes an assigned detached garage just a short distance from the building, and additional guest parking nearby. Heritage Village amenities include pools, tennis and pickleball courts, community gardens, walking paths, and a clubhouse. Approximately 0.8 miles to ShopRite and Stop & Shop and 2.5 miles to Southford Falls State Park, with nearby restaurants and everyday conveniences close at hand.

16. 2026-01-07
    price $239,750 1194-char remark

    Show marketing remark (1194 chars)

    Located in the peaceful Winship area of Heritage Village, this two-bedroom, two-bath condominium offers comfortable single-level living and a private outdoor deck surrounded by mature landscaping. The bright living area includes a wood-burning fireplace and sliding doors opening to the deck, creating a relaxing indoor-outdoor connection. The updated hall bath features a new BathFitter shower enclosure installed within the past three years. The bright and clean galley kitchen provides ample cabinetry with room for a breakfast table. A convenient in-unit washer and dryer sit next to the primary bedroom suite, which includes generous closet space and an en-suite bath. Ample storage throughout, with hallway coat closet, as well as additional storage closets in both bedrooms! The unit includes an assigned detached garage just a short distance from the building, and additional guest parking nearby. Heritage Village amenities include pools, tennis and pickleball courts, community gardens, walking paths, and a clubhouse. Approximately 0.8 miles to ShopRite and Stop & Shop and 2.5 miles to Southford Falls State Park, with nearby restaurants and everyday conveniences close at hand.

17. 2025-11-12
    price $250,000 1194-char remark

    Show marketing remark (1194 chars)

    Located in the peaceful Winship area of Heritage Village, this two-bedroom, two-bath condominium offers comfortable single-level living and a private outdoor deck surrounded by mature landscaping. The bright living area includes a wood-burning fireplace and sliding doors opening to the deck, creating a relaxing indoor-outdoor connection. The updated hall bath features a new BathFitter shower enclosure installed within the past three years. The bright and clean galley kitchen provides ample cabinetry with room for a breakfast table. A convenient in-unit washer and dryer sit next to the primary bedroom suite, which includes generous closet space and an en-suite bath. Ample storage throughout, with hallway coat closet, as well as additional storage closets in both bedrooms! The unit includes an assigned detached garage just a short distance from the building, and additional guest parking nearby. Heritage Village amenities include pools, tennis and pickleball courts, community gardens, walking paths, and a clubhouse. Approximately 0.8 miles to ShopRite and Stop & Shop and 2.5 miles to Southford Falls State Park, with nearby restaurants and everyday conveniences close at hand.

18. 2025-10-29
    listed $260,000 Active 1194-char remark

    Show marketing remark (1194 chars)

    Located in the peaceful Winship area of Heritage Village, this two-bedroom, two-bath condominium offers comfortable single-level living and a private outdoor deck surrounded by mature landscaping. The bright living area includes a wood-burning fireplace and sliding doors opening to the deck, creating a relaxing indoor-outdoor connection. The updated hall bath features a new BathFitter shower enclosure installed within the past three years. The bright and clean galley kitchen provides ample cabinetry with room for a breakfast table. A convenient in-unit washer and dryer sit next to the primary bedroom suite, which includes generous closet space and an en-suite bath. Ample storage throughout, with hallway coat closet, as well as additional storage closets in both bedrooms! The unit includes an assigned detached garage just a short distance from the building, and additional guest parking nearby. Heritage Village amenities include pools, tennis and pickleball courts, community gardens, walking paths, and a clubhouse. Approximately 0.8 miles to ShopRite and Stop & Shop and 2.5 miles to Southford Falls State Park, with nearby restaurants and everyday conveniences close at hand.

19. 2023-11-07
    soldstatus $240,000 Closed 587-char remark

    Show marketing remark (587 chars)

    Welcome home to this well maintained two bedroom, two bath unit in the Winship area of Heritage Village. The galley kitchen has updated appliances, vinyl flooring and space for bistro table. The spacious combination living/dining room also offers laminate flooring, sliders to the deck overlooking an attractive treed yard and A cozy wood burning fireplace. The principle bedroom suite has laminate flooring, updated vanity and tile flooring in bath with shower. The second bedroom or den is conveniently located near the hall bath with stall shower, tile flooring and updated vanity. -

20. 2023-09-29
    status Under Contract 587-char remark

    Show marketing remark (587 chars)

    Welcome home to this well maintained two bedroom, two bath unit in the Winship area of Heritage Village. The galley kitchen has updated appliances, vinyl flooring and space for bistro table. The spacious combination living/dining room also offers laminate flooring, sliders to the deck overlooking an attractive treed yard and A cozy wood burning fireplace. The principle bedroom suite has laminate flooring, updated vanity and tile flooring in bath with shower. The second bedroom or den is conveniently located near the hall bath with stall shower, tile flooring and updated vanity. -

21. 2023-09-20
    historical Under Contract - Continue to Show 587-char remark

    Show marketing remark (587 chars)

    Welcome home to this well maintained two bedroom, two bath unit in the Winship area of Heritage Village. The galley kitchen has updated appliances, vinyl flooring and space for bistro table. The spacious combination living/dining room also offers laminate flooring, sliders to the deck overlooking an attractive treed yard and A cozy wood burning fireplace. The principle bedroom suite has laminate flooring, updated vanity and tile flooring in bath with shower. The second bedroom or den is conveniently located near the hall bath with stall shower, tile flooring and updated vanity. -

22. 2023-09-10
    listed $219,900 Active 587-char remark

    Show marketing remark (587 chars)

    Welcome home to this well maintained two bedroom, two bath unit in the Winship area of Heritage Village. The galley kitchen has updated appliances, vinyl flooring and space for bistro table. The spacious combination living/dining room also offers laminate flooring, sliders to the deck overlooking an attractive treed yard and A cozy wood burning fireplace. The principle bedroom suite has laminate flooring, updated vanity and tile flooring in bath with shower. The second bedroom or den is conveniently located near the hall bath with stall shower, tile flooring and updated vanity. -

23. 2009-11-05
    soldstatus $66,500
24. 1991-10-17
    soldstatus $61,000

ⓘ 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: $2,747 · $229/mo
• Projected year-2 tax: $3,701 · $308/mo
• Expected delta: +$954/yr (+$79/mo · 34.7%)

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

Taxation est. · year 1

• Rental income: $28,464
• − Mortgage interest: −$12,183
• − Property taxes: −$2,747
• − Insurance: −$1,088
• − Repairs & maintenance: −$2,277
• − Management: −$2,277
• − HOA: −$7,764
• − Depreciation: −$6,327
• Taxable loss: −$6,199
• Est. tax savings @ 24.0%: +$1,488
• After-tax cash flow: $-1,311/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 — Southbury

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

Census & demographics

• Census place: Heritage Village, CT
• 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

+276.6% since first listed

10 events — show timeline

• 2026-04-08 Price Changed $229,750 Smart MLS
• 2026-01-07 Price Changed $239,750 Smart MLS
• 2025-11-12 Price Changed $250,000 Smart MLS
• 2025-10-29 Listed $260,000 Smart MLS
• 2023-11-07 Sold (MLS) $240,000 Smart MLS
• 2023-09-29 Pending — Smart MLS
• 2023-09-20 Contingent — Smart MLS
• 2023-09-10 Listed $219,900 Smart MLS
• 2009-11-05 Sold (Public Records) $66,500 Public Records
• 1991-10-17 Sold (Public Records) $61,000 Public Records

Property tax history

+4.2%/yr

Latest (2023): $2,747 · +55.5% YoY. Source: county tax records.