119 Freeman Rd · Oxford, CT 06478

$565,000

4 bd · 4.0 ba · 1,704 sqft · MultiFamily public records · 18 Days on market

Built 1977 1.50 ac lot

---

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 +16.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Schools +4.9/10.0
• 1% rule +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

HIGHEST AND BEST TO BE IN BY 5PM 9/1/2020 Welcome to 119 Freeman Road. This spacious raised ranch with a legal in-law is just waiting for your finishing touches. The property offers access via a driveway on either side of the property. The back yard is nice and level with lots of space. The interior is clean and neat, but ready for a rehab or move right in. The main section of the house offers three full bedrooms and two full baths, a large eat-in kitchen and oversized family room. The lower level is currently gutted and is plumbed for a full bath. The legal in-law is on two levels with a chair lift in place. The lower level offers a full kitchen, eat in area and a 1/2 bath. The upper level offers a bedroom with full bath and living room with easy access to the main section of the house. The perfect setup for multi generational families. Property is being sold as is. Come see what this large property has to offer. Deeded access to Lake Zoar and i n the alcove around the corner. Detailed in the deed.

Key facts

• Flexible layout
• Private entrances
• Finished basement

Tags

• IN-LAW RESIDENCE
• UPDATED KITCHEN
• FINISHED BASEMENT
• FLEXIBLE LAYOUT
• PRIVATE ENTRANCES
• LAKE ZOAR ACCESS

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Private well water; Septic system; Oil fuel tank located in garage
• Home design: Single-family home
• Construction: Frame construction; Shingle and wood siding; Asphalt shingle roof; Concrete foundation
• Exterior features: Deck; Patio; Shed; Gutters; Exterior lighting; Above-ground swimming pool; Treed, dry lot; Walk-to-water access and beach rights

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 5 bedrooms
• Bathrooms: 4 full bathrooms; 1 half bathroom
• Heating & cooling: Hot water heat (oil-fired); Tankless hot water
• Interior features: Open floor plan; In-law apartment with separate entry; One fireplace; Full, heated, partially finished walk-out basement; Attic with pull-down stairs
• Laundry & utility: Washer; Dryer; Laundry room on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $565k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/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 $502k (11.2% below list).
• Recommended offer: $502k (11.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Oxford School District (rural): math 42% / reading 61% proficiency, ranked #67 of 153 in CT (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 6% free/reduced lunch — higher-income household profile.
• Zoned schools: Quaker Farms School (405 students, 15% FRL); Oxford Middle School (math 33% / reading 57%, grade D, #92 of 175 statewide, top 52%, 410 students, 15% FRL); Oxford High School (math 47% / reading 67%, grade C, #52 of 194 statewide, top 31%, 527 students, 12% FRL).
• Market conditions: 71 active listings in the ZIP; 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 $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($557k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $318k; list at $565k implies a 78% gain — meaningful room to come down on a strong offer.

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 $501,800 (11.2% below list)

Questions for the listing agent

1. Built in 1977 — 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 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: 0.89% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.42%
• DSCR: 1.11
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -12.5%
• Equity multiple: 0.55×
• Total profit: $-71,307
• Equity at exit: $84,243

10-year hold

• IRR: -3.4%
• Equity multiple: 0.77×
• Total profit: $-36,254
• Equity at exit: $48,851

Cash invested: $158,200 (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 06478

• Active inventory: 71
• Price-to-rent: 31.1×

Monthly cashflow live

• Estimated rent: $5,018 medium
• Mortgage (P&I): −$2,963
• Tax from tax record: −$447 /mo · $5,360/yr
• Insurance: −$235
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,054
• Net cashflow: $319

Break-even live

Break-even rent $4,614

Max offer price $565,000

Occupancy floor 89%

Sensitivity live

Price	-10% $639	-5% $479	+0% $319	+5% $159	+10% $-1
Rent	-10% $-77	-5% $121	+0% $319	+5% $517	+10% $716
Rate	-1.0pp $604	-0.5pp $463	base $319	+0.5pp $173	+1.0pp $24

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	1	1.5	$1,512
▸ 2× units	2	2	$3,506
Total (3 units)			$5,018

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: $141,250
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-22
   days on market $565,000 Active 18 DOM
2. 2026-06-18
   days on market $565,000 Active 15 DOM
3. 2026-06-17
   days on market $565,000 Active 14 DOM
4. 2026-06-16
   days on market $565,000 Active 13 DOM
5. 2026-06-15
   days on market $565,000 Active 12 DOM
6. 2026-06-14
   days on market $565,000 Active 10 DOM
7. 2026-06-13
   days on market $565,000 Active 9 DOM
8. 2026-06-10
   days on market $565,000 Active 7 DOM
9. 2026-06-09
   days on market $565,000 Active 6 DOM
10. 2026-06-08
    days on market $565,000 Active 5 DOM
11. 2026-06-07
    days on market $565,000 Active 4 DOM
12. 2026-06-05
    remarks 699-char remark
13. 2026-06-05
    listed $565,000 Active 1 DOM

ⓘ 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: $5,360 · $447/mo
• Projected year-2 tax: $8,726 · $727/mo
• Expected delta: +$3,366/yr (+$280/mo · 62.8%)

ⓘ 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: $60,216
• − Mortgage interest: −$31,649
• − Property taxes: −$5,360
• − Insurance: −$2,825
• − Repairs & maintenance: −$4,817
• − Management: −$4,817
• − Depreciation: −$16,436
• Taxable loss: −$5,689
• Est. tax savings @ 24.0%: +$1,365
• After-tax cash flow: $5,196/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: Oxford School District
• NCES district ID: 0903240
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $100,564
• Composite: 48.79/100
• National rank: #2091
• State rank: #67 of 153 in CT

Livability — Oxford

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

Census & demographics

• Population (ZIP): 12,870

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Salvadoran 3%
• Common ancestry: Romanian 15% Lithuanian 4% Russian 2%
• Foreign-born: 11% · Canada, Jamaica, Vietnam
• Languages at home: 83% English-only · Spanish 8% Other Indo-European 4% Russian/Polish/Slavic 1%

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: ▼ -119.12%
• Current HPI: 219.773
• 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

+89.0% since first listed

5 events — show timeline

• 2026-06-03 Listed $565,000 Smart MLS
• 2020-10-19 Sold (Public Records) $318,000 Public Records
• 2020-10-14 Sold (MLS) $318,000 Smart MLS
• 2020-09-03 Contingent — Smart MLS
• 2020-08-27 Listed $299,000 Smart MLS

Property tax history

-0.0%/yr

Latest (2023): $5,360 · +0.6% YoY. Source: county tax records.