33 Shawondassee Dr · Mystic, CT 06378

$399,000

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 66 Days on market

Built 1961 0.27 ac lot

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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 +13.6/30.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• DSCR +4.1/10.0
• Livability +4.1/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This adorable Ranch style home is one level living at it's finest! Offering a comfortable and flexible space, this updated home has a bright and airy living room and an eat-in kitchen. The exterior deck overlooks the oversized backyard. It is currently set up as a 3 Bedroom/1 Bathroom with the opportunity to easily turn 2 of the bedrooms into a larger primary suite. The lower level has been partially finished with plenty of room for storage. Tenant occupied until 7/31.

Key facts

• 0.27 acre lot
• Built 1961
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $399k.

Deal economics

• At list price, monthly cash flow is $23 ($276/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 $324k (18.9% below list).
• Recommended offer: $324k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 1.7% in Mystic — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#11 in CT, #1,266 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: commute F, cost of living 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: Deans Mill School (math 72% / reading 74%, grade A, #58 of 553 statewide, top 11%, 451 students, 12% 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).
• Market conditions: 69 active listings in the ZIP; high-income renter base; 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 $12k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($375k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 25y 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 $237k; list at $399k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $323,774 (18.9% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.25%
• DSCR: 1.01
• GRM: 10.3

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: -15.9%
• Equity multiple: 0.43×
• Total profit: $-63,278
• Equity at exit: $59,492

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-53,573
• Equity at exit: $34,498

Cash invested: $111,720 (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 06378

• Home prices YoY: -17.0%
• Active inventory: 69
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $3,238 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$276 /mo · $3,314/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$680
• Net cashflow: $23

Break-even live

Break-even rent $3,209

Max offer price $399,000

Occupancy floor 94%

Sensitivity live

Price	-10% $249	-5% $136	+0% $23	+5% $-90	+10% $-203
Rent	-10% $-233	-5% $-105	+0% $23	+5% $151	+10% $279
Rate	-1.0pp $224	-0.5pp $124	base $23	+0.5pp $-80	+1.0pp $-186

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-15
   days on market $399,000 Active 66 DOM
2. 2026-06-13
   days on market $399,000 Active 64 DOM
3. 2026-06-09
   days on market $399,000 Active 60 DOM
4. 2026-06-08
   days on market $399,000 Active 59 DOM
5. 2026-06-07
   days on market $399,000 Active 58 DOM
6. 2026-06-05
   days on market $399,000 Active 55 DOM
7. 2026-06-03
   days on market $399,000 Active 54 DOM
8. 2026-06-02
   days on market $399,000 Active 53 DOM
9. 2026-06-01
   days on market $399,000 Active 52 DOM
10. 2026-05-31
    days on market $399,000 Active 51 DOM
11. 2026-05-11
    status Active 473-char remark

    Show marketing remark (473 chars)

    This adorable Ranch style home is one level living at it's finest! Offering a comfortable and flexible space, this updated home has a bright and airy living room and an eat-in kitchen. The exterior deck overlooks the oversized backyard. It is currently set up as a 3 Bedroom/1 Bathroom with the opportunity to easily turn 2 of the bedrooms into a larger primary suite. The lower level has been partially finished with plenty of room for storage. Tenant occupied until 7/31.

12. 2026-04-23
    status Under Contract 473-char remark

    Show marketing remark (473 chars)

    This adorable Ranch style home is one level living at it's finest! Offering a comfortable and flexible space, this updated home has a bright and airy living room and an eat-in kitchen. The exterior deck overlooks the oversized backyard. It is currently set up as a 3 Bedroom/1 Bathroom with the opportunity to easily turn 2 of the bedrooms into a larger primary suite. The lower level has been partially finished with plenty of room for storage. Tenant occupied until 7/31.

13. 2026-03-24
    listed $399,000 Active 473-char remark

    Show marketing remark (473 chars)

    This adorable Ranch style home is one level living at it's finest! Offering a comfortable and flexible space, this updated home has a bright and airy living room and an eat-in kitchen. The exterior deck overlooks the oversized backyard. It is currently set up as a 3 Bedroom/1 Bathroom with the opportunity to easily turn 2 of the bedrooms into a larger primary suite. The lower level has been partially finished with plenty of room for storage. Tenant occupied until 7/31.

14. 2026-03-20
    historical $399,000 473-char remark

    Show marketing remark (473 chars)

    This adorable Ranch style home is one level living at it's finest! Offering a comfortable and flexible space, this updated home has a bright and airy living room and an eat-in kitchen. The exterior deck overlooks the oversized backyard. It is currently set up as a 3 Bedroom/1 Bathroom with the opportunity to easily turn 2 of the bedrooms into a larger primary suite. The lower level has been partially finished with plenty of room for storage. Tenant occupied until 7/31.

15. 2020-10-20
    soldstatus $237,000 Closed 406-char remark

    Show marketing remark (406 chars)

    Newly renovated 3 bedroom, 1 bath ranch. Kitchen has been redone with stainless steel appliances, stone countertops and white cabinetry. Bathroom newly redone. The main floor living area connects out to a large deck perfect for entertaining. Central air, washer and dryer in the full basement. New roof, new exterior electrical. Located with easy access to the Stonington Borough, Mystic, Route 1 and I-95.

16. 2020-10-16
    soldstatus $237,000
17. 2020-09-09
    historical Under Contract - Continue to Show 406-char remark

    Show marketing remark (406 chars)

    Newly renovated 3 bedroom, 1 bath ranch. Kitchen has been redone with stainless steel appliances, stone countertops and white cabinetry. Bathroom newly redone. The main floor living area connects out to a large deck perfect for entertaining. Central air, washer and dryer in the full basement. New roof, new exterior electrical. Located with easy access to the Stonington Borough, Mystic, Route 1 and I-95.

18. 2020-09-03
    status Active 406-char remark

    Show marketing remark (406 chars)

    Newly renovated 3 bedroom, 1 bath ranch. Kitchen has been redone with stainless steel appliances, stone countertops and white cabinetry. Bathroom newly redone. The main floor living area connects out to a large deck perfect for entertaining. Central air, washer and dryer in the full basement. New roof, new exterior electrical. Located with easy access to the Stonington Borough, Mystic, Route 1 and I-95.

19. 2020-08-28
    historical Under Contract - Continue to Show 406-char remark

    Show marketing remark (406 chars)

    Newly renovated 3 bedroom, 1 bath ranch. Kitchen has been redone with stainless steel appliances, stone countertops and white cabinetry. Bathroom newly redone. The main floor living area connects out to a large deck perfect for entertaining. Central air, washer and dryer in the full basement. New roof, new exterior electrical. Located with easy access to the Stonington Borough, Mystic, Route 1 and I-95.

20. 2020-08-24
    listed $239,900 Active 406-char remark

    Show marketing remark (406 chars)

    Newly renovated 3 bedroom, 1 bath ranch. Kitchen has been redone with stainless steel appliances, stone countertops and white cabinetry. Bathroom newly redone. The main floor living area connects out to a large deck perfect for entertaining. Central air, washer and dryer in the full basement. New roof, new exterior electrical. Located with easy access to the Stonington Borough, Mystic, Route 1 and I-95.

21. 2020-06-18
    historical
22. 2020-06-18
    soldstatus $150,000 Closed
23. 2020-06-18
    soldstatus $150,000
24. 2020-06-08
    status Under Contract
25. 2020-06-04
    status Active
26. 2020-05-29
    historical Under Contract - Continue to Show
27. 2020-05-18
    price $169,000
28. 2020-05-15
    listed $179,900 Active
29. 2005-01-13
    soldstatus $199,000
30. 2004-11-29
    listed $199,000
31. 2004-11-02
    soldstatus $142,000
32. 2004-10-01
    listed $141,750
33. 2001-06-22
    soldstatus $119,995
34. 2001-06-22
    soldstatus $119,995
35. 2001-06-05
    historical
36. 2001-03-07
    listed $122,500
37. 2001-03-04
    listed $122,500

ⓘ 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: $3,314 · $276/mo
• Projected year-2 tax: $5,926 · $494/mo
• Expected delta: +$2,612/yr (+$218/mo · 78.8%)

ⓘ 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 6/10 Major 7 d/yr ≥92°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: $38,853
• − Mortgage interest: −$22,350
• − Property taxes: −$3,314
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,108
• − Management: −$3,108
• − Depreciation: −$11,607
• Taxable loss: −$6,630
• Est. tax savings @ 24.0%: +$1,591
• After-tax cash flow: $1,867/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 — Mystic

• Score: 82/100
• State rank: #11
• US rank: #1266

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: New London County · 147,197 people
• Metro: Norwich-New London, CT
• Population (ZIP): 5,555
• Household income: $135,714
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 98.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3% Black 2%
• Common ancestry: Lithuanian 8% Romanian 8% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1%

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: ▼ -39.67%
• Current HPI: 193.423
• Rent YoY: —
• Metro: Norwich-New London, CT
• 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

+225.7% since first listed

27 events — show timeline

• 2026-05-11 Relisted — Smart MLS
• 2026-04-23 Pending — Smart MLS
• 2026-03-24 Listed $399,000 Smart MLS
• 2026-03-20 Coming Soon $399,000 Smart MLS
• 2020-10-20 Sold (MLS) $237,000 Smart MLS
• 2020-10-16 Sold (Public Records) $237,000 Public Records
• 2020-09-09 Contingent — Smart MLS
• 2020-09-03 Relisted — Smart MLS
• 2020-08-28 Contingent — Smart MLS
• 2020-08-24 Listed $239,900 Smart MLS
• 2020-06-18 Listing Removed — Smart MLS
• 2020-06-18 Sold (Public Records) $150,000 Public Records
• 2020-06-18 Sold (MLS) $150,000 Smart MLS
• 2020-06-08 Pending — Smart MLS
• 2020-06-04 Relisted — Smart MLS
• 2020-05-29 Contingent — Smart MLS
• 2020-05-18 Price Changed $169,000 Smart MLS
• 2020-05-15 Listed $179,900 Smart MLS
• 2005-01-13 Sold (MLS) $199,000 Smart MLS
• 2004-11-29 Listed $199,000 Smart MLS
• 2004-11-02 Sold (MLS) $142,000 Smart MLS
• 2004-10-01 Listed $141,750 Smart MLS
• 2001-06-22 Sold (MLS) $119,995 Smart MLS
• 2001-06-22 Sold (MLS) $119,995 RIS
• 2001-06-05 Listing Removed — RIS
• 2001-03-07 Listed $122,500 RIS
• 2001-03-04 Listed $122,500 Smart MLS

Property tax history

+5.9%/yr

Latest (2022): $3,314 · +11.4% YoY. Source: county tax records.