138 S Broad St · Pawcatuck, CT 06379

$479,000

3 bd · 2.0 ba · 1,431 sqft · SingleFamily public records · 46 Days on market

Built 1952 0.96 ac lot $335/sqft · 7% above area Est $474k · at est.

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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 +17.0/30.0
• ARV discount +7.0/15.0
• Schools +5.5/10.0
• DSCR +5.3/10.0
• 1% rule +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Old World Charm waiting to be Shown Off. Two Fireplaces. Large Dining Room. Huge two car garage with storage and double entry garage doors. Large Breezeway with plenty of light. Even a Greenhouse off the Den. This home has much to offer and all on one acre of wooded property. A great value... ZONED GC-60... Perfect for a doctors office, Lawyer, ETC... OR the perfect, A beautiful Classic.

Key facts

• 0.96 acre lot
• 2 garage spots
• Built 1952

Property features AI

Exterior

• Parking: Attached garage; Two-car garage
• Utilities: Public water connected; Public sewer connected
• Home design: Single-family home for sale
• Construction: Wood frame construction; Concrete foundation
• Exterior features: Level lot; Aluminum siding; Asphalt shingle roof

Interior

• Kitchen: Electric range / oven; Range hood; Refrigerator; Dishwasher
• Bedrooms: Three bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Baseboard heating; Radiator heating; Oil heat
• Interior features: Seven total rooms; Possible in-law apartment with lower level access; Two fireplaces; Full basement with storage and hatchway access; Has attic with hatch access
• Laundry & utility: Hot water: oil-fired domestic system; Fuel tank located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $479k.

Deal economics

• At list price, monthly cash flow is $325 ($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 $424k (11.5% below list).
• Recommended offer: $424k (11.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#81 in CT) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A; Watch: amenities F, commute F.
• Stonington School District (suburban): math 54% / reading 70% proficiency, ranked #43 of 153 in CT (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: West Vine Street School (math 52% / reading 62%, grade C+, #177 of 553 statewide, top 34%, 354 students, 41% FRL); Stonington Middle School (math 51% / reading 71%, grade B+, #41 of 175 statewide, top 25%, 379 students, 26% FRL); Stonington High School (math 47% / reading 77%, grade B-, #40 of 194 statewide, top 21%, 585 students, 21% FRL) — zoned schools average 29% FRL vs 14% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 25 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($465k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $120k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $200k; list at $479k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $424,037 (11.5% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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: 0.89% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.91%
• DSCR: 1.13
• GRM: 9.4

CMA / ARV

• ARV (median comp): $473,539
• List price: $479,000
• Delta: 1.15%
• Verdict: FAIR
• Comps: 8 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.7%
• Equity multiple: 0.57×
• Total profit: $-57,028
• Equity at exit: $71,420

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-23,453
• Equity at exit: $41,415

Cash invested: $134,120 (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 06379

• Active inventory: 25
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $4,240 medium
• Mortgage (P&I): −$2,512
• Tax from tax record: −$313 /mo · $3,760/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$890
• Net cashflow: $325

Break-even live

Break-even rent $3,829

Max offer price $479,000

Occupancy floor 87%

Sensitivity live

Price	-10% $596	-5% $461	+0% $325	+5% $189	+10% $54
Rent	-10% $-10	-5% $158	+0% $325	+5% $493	+10% $660
Rate	-1.0pp $566	-0.5pp $447	base $325	+0.5pp $201	+1.0pp $75

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 Fellows St Pawcatuck, CT	3.0	2.0	1649	$5,000	$3.03	5d	1	0.85mi
143 W Broad St #2 Pawcatuck, CT	3.0	1.0	1115	$2,250	$2.02	3d	1	1.08mi
15 Trumbull St Stonington, CT	3.0	2.5	1466	$6,000	$4.09	45d	1	1.09mi
8 Wells Ave Pawcatuck, CT	3.0	2.5	1120	$2,750	$2.46	3d	1	1.27mi

Listing history 22 events

1. 2026-06-21
   days on market $479,000 Active 46 DOM
2. 2026-06-18
   days on market $479,000 Active 43 DOM
3. 2026-06-17
   days on market $479,000 Active 42 DOM
4. 2026-06-16
   pricedays on market $479,000 Active 41 DOM
5. 2026-06-15
   days on market $499,000 Active 40 DOM
6. 2026-06-13
   days on market $499,000 Active 38 DOM
7. 2026-06-09
   days on market $499,000 Active 34 DOM
8. 2026-06-08
   days on market $499,000 Active 33 DOM
9. 2026-06-07
   days on market $499,000 Active 32 DOM
10. 2026-06-05
    days on market $499,000 Active 29 DOM
11. 2026-06-03
    days on market $499,000 Active 28 DOM
12. 2026-06-02
    days on market $499,000 Active 27 DOM
13. 2026-06-01
    days on market $499,000 Active 26 DOM
14. 2026-05-31
    days on market $499,000 Active 25 DOM
15. 2026-05-13
    price $499,000 1033-char remark
16. 2026-05-07
    listed $599,000 Active 1033-char remark
17. 2026-05-04
    historical $599,000 1033-char remark
18. 2026-04-21
    listed $650,000 Active 288-char remark
19. 2016-02-29
    soldstatus $200,000

    Show marketing remark (400 chars)

    Beautiful Old World Charm waiting to be Shown Off. Two Fireplaces. Large Dining Room. Huge two car garage with storage and double entry garage doors. Large Breezeway with plenty of light. Even a Greenhouse off the Den. This home has much to offer and all on one acre of wooded property. A great value... ZONED GC-60... Perfect for a doctors office, Lawyer, ETC... OR the perfect, A beautiful Classic.

20. 2016-02-26
    soldstatus $200,000
21. 2016-01-09
    historical

    Show marketing remark (400 chars)

    Beautiful Old World Charm waiting to be Shown Off. Two Fireplaces. Large Dining Room. Huge two car garage with storage and double entry garage doors. Large Breezeway with plenty of light. Even a Greenhouse off the Den. This home has much to offer and all on one acre of wooded property. A great value... ZONED GC-60... Perfect for a doctors office, Lawyer, ETC... OR the perfect, A beautiful Classic.

22. 2015-08-17
    listed $199,900

    Show marketing remark (400 chars)

    Beautiful Old World Charm waiting to be Shown Off. Two Fireplaces. Large Dining Room. Huge two car garage with storage and double entry garage doors. Large Breezeway with plenty of light. Even a Greenhouse off the Den. This home has much to offer and all on one acre of wooded property. A great value... ZONED GC-60... Perfect for a doctors office, Lawyer, ETC... OR the perfect, A beautiful Classic.

ⓘ 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: $3,760 · $313/mo
• Projected year-2 tax: $7,005 · $584/mo
• Expected delta: +$3,245/yr (+$270/mo · 86.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,884
• − Mortgage interest: −$26,831
• − Property taxes: −$3,760
• − Insurance: −$2,395
• − Repairs & maintenance: −$4,071
• − Management: −$4,071
• − Depreciation: −$13,935
• Taxable loss: −$4,178
• Est. tax savings @ 24.0%: +$1,003
• After-tax cash flow: $4,903/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: Stonington School District
• NCES district ID: 0904380
• Math proficiency: 54% ▼ -10.00%
• Reading proficiency: 70% ▼ -7.00%
• Median HH income: $75,939
• Composite: 55.15/100
• National rank: #1280
• State rank: #43 of 153 in CT

Livability — Pawcatuck

• Score: 72/100
• State rank: #81
• US rank: #6033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pawcatuck, CT
• City population: 9,003
• Population (ZIP): 9,003

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 3% Black 3% Asian 2%
• Common ancestry: Russian 6% Lithuanian 5% Slovak 5%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Spanish 1% French/Haitian/Cajun 0%

Political lean MEDSL · Southeastern Connecticut

• 2024 margin: D (+13.0) · D 55.6% · R 42.6% · Other 1.8%
• All cycles: 2024: D+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -139.18%
• Current HPI: 187.2421
• 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

+139.6% since first listed

8 events — show timeline

• 2026-06-16 Price Changed $479,000 Smart MLS
• 2026-05-13 Price Changed $499,000 Smart MLS
• 2026-05-07 Listed $599,000 Smart MLS
• 2026-05-04 Coming Soon $599,000 Smart MLS
• 2016-02-29 Sold (MLS) $200,000 Smart MLS
• 2016-02-26 Sold (Public Records) $200,000 Public Records
• 2016-01-09 Listing Removed — Smart MLS
• 2015-08-17 Listed $199,900 Smart MLS

Property tax history

+0.4%/yr

Latest (2022): $3,760 · +0.9% YoY. Source: county tax records.