42 Candlewood Lake Rd S #2 · Chimney Point, CT 06776

$175,000

1 bd · 1.0 ba · 720 sqft · Condo public records · 2 Days on market

Built 1968 $332/mo HOA · 18% 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).

• Cash flow +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• DSCR +3.9/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great southern New Milford location, easy commute, large living room & dining room w/ slider to balcony. Freshly painted, ready to go, immediate occupancy. Owner financing considered.

Key facts

• Plenty of parking
• Private balconey
• Laundry on site

Tags

• ONE BEDROOM CONDO
• PLENTY OF PARKING
• LAUNDRY ON SITE
• PRIVATE BALCONEY
• PETS WELCOME

Property features AI

Finance

• Other: Part of a 40-unit building
• HOA & community: Monthly HOA fee; HOA covers grounds maintenance, trash pickup, and snow removal; Pets allowed per association rules

Exterior

• Utilities: Public water; Public sewer
• Home design: Condominium in a multi-unit complex (Candlewood Lake)
• Construction: Brick construction
• Exterior features: Vinyl siding; Level lot

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heat (electric); Wall-mounted cooling unit; 40-gallon hot water tank
• Interior features: One-level unit; No basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-10 ($-114/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (1.0% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $173k (1.0% 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.
• New Milford School District (suburban): math 29% / reading 47% proficiency, ranked #100 of 153 in CT (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Hill And Plain School (377 students, 47% FRL); New Milford High School (math 33% / reading 62%, grade D, #91 of 194 statewide, top 47%, 1,247 students, 31% FRL) — zoned schools average 39% FRL vs 15% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 147 active listings in the ZIP; solid renter incomes; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y 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 $72k; list at $175k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,316 (1.0% 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. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.05% ✓
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• GRM: 7.9

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: -16.6%
• Equity multiple: 0.41×
• Total profit: $-28,782
• Equity at exit: $26,093

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-25,101
• Equity at exit: $15,131

Cash invested: $49,000 (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 06776

• Active inventory: 147
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,839 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$139 /mo · $1,672/yr
• Insurance: −$73
• HOA: −$332
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $-10

Break-even live

Break-even rent $1,851

Max offer price $173,316

Occupancy floor 96%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $332 · $3,984/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-05-06
   status Under Contract
2. 2026-05-05
   historical Under Contract - Continue to Show
3. 2026-05-04
   listed $175,000 Active
4. 2025-07-24
   historical $1,675
5. 2025-07-15
   price $1,675
6. 2025-07-10
   price $1,775
7. 2025-06-27
   listed $1,850
8. 2017-07-07
   soldstatus $72,500 187-char remark

   Show marketing remark (187 chars)

   Great southern New Milford location, easy commute, large living room & dining room w/ slider to balcony. Freshly painted, ready to go, immediate occupancy. Owner financing considered.

9. 2017-07-07
   soldstatus $72,500

   Show marketing remark (187 chars)

   Great southern New Milford location, easy commute, large living room & dining room w/ slider to balcony. Freshly painted, ready to go, immediate occupancy. Owner financing considered.

10. 2017-06-21
    listed $72,500 187-char remark

    Show marketing remark (187 chars)

    Great southern New Milford location, easy commute, large living room & dining room w/ slider to balcony. Freshly painted, ready to go, immediate occupancy. Owner financing considered.

11. 2015-02-06
    historical
12. 2014-07-02
    listed $69,500
13. 2001-10-22
    soldstatus $35,000

ⓘ 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: $1,672 · $139/mo
• Projected year-2 tax: $2,708 · $226/mo
• Expected delta: +$1,036/yr (+$86/mo · 62.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $22,062
• − Mortgage interest: −$9,803
• − Property taxes: −$1,672
• − Insurance: −$875
• − Repairs & maintenance: −$1,765
• − Management: −$1,765
• − HOA: −$3,984
• − Depreciation: −$5,091
• Taxable loss: −$2,892
• Est. tax savings @ 24.0%: +$694
• After-tax cash flow: $580/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: New Milford School District
• NCES district ID: 0902850
• Math proficiency: 29% ▼ -22.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $81,576
• Composite: 35.78/100
• National rank: #4839
• State rank: #100 of 153 in CT

Livability — Chimney Point

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

Census & demographics

• County: Litchfield County · 81,203 people
• Metro: Torrington, CT
• Population (ZIP): 27,010
• Household income: $104,112
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 627.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 7% Black 4% Asian 4%
• Hispanic origin (detail): Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 3% Chinese 1%

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: ▼ -264.52%
• Current HPI: 305.6036
• Rent YoY: —
• Metro: Torrington, 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

+400.0% since first listed

13 events — show timeline

• 2026-05-06 Pending — Smart MLS
• 2026-05-05 Contingent — Smart MLS
• 2026-05-04 Listed $175,000 Smart MLS
• 2025-07-24 Rental Removed $1,675 SMARTMLS
• 2025-07-15 Price Changed $1,675 SMARTMLS
• 2025-07-10 Price Changed $1,775 SMARTMLS
• 2025-06-27 Listed for Rent $1,850 SMARTMLS
• 2017-07-07 Sold (Public Records) $72,500 Public Records
• 2017-07-07 Sold (MLS) $72,500 Smart MLS
• 2017-06-21 Listed $72,500 Smart MLS
• 2015-02-06 Listing Removed — Smart MLS
• 2014-07-02 Listed $69,500 Smart MLS
• 2001-10-22 Sold (Public Records) $35,000 Public Records

Property tax history

+0.8%/yr

Latest (2023): $1,672 · +2.3% YoY. Source: county tax records.