None · Cheshire Village, CT 06410

$198,900

2 bd · 1.0 ba · 900 sqft · Condo public records · 50 Days on market

Built 1966 $510/mo HOA · 24% of rent

---

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 +9.5/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter property or investment to rent out. 2Nd floor 2 bedroom condo with heat & water included in hoa fee.

Key facts

• $510 HOA
• 3 parking spots
• Built 1966

Property features AI

Finance

• Other: Part of an 84-unit complex (Birchwood-Cheshire); Nearby amenities include lake, library, medical facilities, park, playground, public pool, public recreation facilities, and tennis courts
• Financial info: Professional off-site property management; Pets restricted (no dogs allowed)
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee covers grounds maintenance, trash pickup, snow removal, heat, hot water, water, sewer, property management, and road maintenance

Exterior

• Parking: Paved off-street parking; 3 parking spaces
• Utilities: Public water connected; Public sewer connected; Domestic hot water
• Home design: Condominium (ranch model); Unit on 2nd floor
• Construction: Brick construction; Brick & white color
• Exterior features: Porch; Exterior lighting; Secluded, lightly wooded and treed lot with some wetlands; level to rolling terrain

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher; Oven/Range
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heat (oil-fired); Window AC unit; Thermopane windows
• Interior features: Cable available; Full shared basement; Attic with hatch access
• Laundry & utility: Common laundry area on lower level; Fuel tank in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $-137 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (12.2% below list).
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $175k (12.2% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 2.5% in Cheshire Village — 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 79/100 on livability (#29 in CT, #2,087 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• Cheshire School District (suburban): math 64% / reading 76% proficiency, ranked #15 of 153 in CT (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical; only 6% free/reduced lunch — higher-income household profile.
• Zoned schools: Doolittle School (math 68% / reading 73%, grade A-, #75 of 553 statewide, top 14%, 518 students, 23% FRL); Dodd Middle School (math 61% / reading 73%, grade A-, #21 of 175 statewide, top 12%, 622 students, 16% FRL); Cheshire High School (math 46% / reading 73%, grade C+, #45 of 194 statewide, top 25%, 1,239 students, 16% FRL).
• Market conditions: 112 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• This rent is only 17% of the median local income ($145k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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 $100k; list at $199k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.

Recommended offer $174,720 (12.2% 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 50 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.06% ✓
• Cap rate: 5.47%
• Cash-on-cash: -2.95%
• DSCR: 0.87
• 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: -21.0%
• Equity multiple: 0.27×
• Total profit: $-40,655
• Equity at exit: $29,657

10-year hold

• IRR: -14.0%
• Equity multiple: 0.18×
• Total profit: $-45,437
• Equity at exit: $17,197

Cash invested: $55,692 (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 06410

• Active inventory: 112
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,105 medium
• Mortgage (P&I): −$1,043
• Tax from tax record: −$164 /mo · $1,963/yr
• Insurance: −$83
• HOA: −$510
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $-137

Break-even live

Break-even rent $2,278

Max offer price $174,720

Occupancy floor —

Sensitivity live

Price	-10% $-24	-5% $-81	+0% $-137	+5% $-193	+10% $-249
Rent	-10% $-303	-5% $-220	+0% $-137	+5% $-54	+10% $29
Rate	-1.0pp $-37	-0.5pp $-86	base $-137	+0.5pp $-188	+1.0pp $-241

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: $49,725
• Closing costs: $5,967
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Oak Ave #21 Cheshire, CT	2.0	1.0	900	$1,800	$2.00	12d	1	0.23mi

HOA detail condo

• Monthly dues: $510 · $6,120/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-04-16
   historical Under Contract - Continue to Show
2. 2026-04-06
   listed $198,900 Active
3. 2026-04-04
   historical $198,900
4. 2011-04-29
   soldstatus $100,000 118-char remark

   Show marketing remark (118 chars)

   Great starter property or investment to rent out. 2Nd floor 2 bedroom condo with heat & water included in hoa fee.

5. 2010-10-18
   listed $105,000 118-char remark

   Show marketing remark (118 chars)

   Great starter property or investment to rent out. 2Nd floor 2 bedroom condo with heat & water included in hoa fee.

6. 2009-09-25
   historical
7. 2009-03-26
   listed $108,000
8. 2007-01-02
   soldstatus $127,000
9. 2006-12-29
   soldstatus $127,000
10. 2006-10-17
    listed $127,000
11. 2004-05-19
    soldstatus $109,000
12. 2004-05-19
    soldstatus $109,000
13. 2004-05-14
    soldstatus $109,000
14. 2004-03-07
    listed $109,000
15. 2000-12-14
    soldstatus $75,000
16. 2000-10-16
    listed $75,000

ⓘ 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: $1,963 · $164/mo
• Projected year-2 tax: $3,110 · $259/mo
• Expected delta: +$1,147/yr (+$96/mo · 58.4%)

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

Taxation est. · year 1

• Rental income: $25,255
• − Mortgage interest: −$11,141
• − Property taxes: −$1,963
• − Insurance: −$994
• − Repairs & maintenance: −$2,020
• − Management: −$2,020
• − HOA: −$6,120
• − Depreciation: −$5,786
• Taxable loss: −$4,791
• Est. tax savings @ 24.0%: +$1,150
• After-tax cash flow: $-493/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: Cheshire School District
• NCES district ID: 0900750
• Math proficiency: 64% ▼ -9.00%
• Reading proficiency: 76% ▼ -6.00%
• Median HH income: $107,049
• Composite: 64.78/100
• National rank: #519
• State rank: #15 of 153 in CT

Livability — Cheshire Village

• Score: 79/100
• State rank: #29
• US rank: #2087

Category grades

Amenities F Commute F Cost of living D- 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 Haven County · 688,236 people
• City population: 28,792
• Metro: New Haven-Milford, CT
• Population (ZIP): 28,904
• Household income: $145,179
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 234.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 10% Asian 10% Hispanic / Latino 7% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 4% Scotch-Irish 3%
• Foreign-born: 13% · China, Canada, South Korea
• Languages at home: 85% English-only · Chinese 4% Other Indo-European 3% Spanish 3%

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: ▼ -321.35%
• Current HPI: 244.0737
• Rent YoY: —
• Metro: New Haven-Milford, 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

+165.2% since first listed

16 events — show timeline

• 2026-04-16 Contingent — Smart MLS
• 2026-04-06 Listed $198,900 Smart MLS
• 2026-04-04 Coming Soon $198,900 Smart MLS
• 2011-04-29 Sold (MLS) $100,000 Smart MLS
• 2010-10-18 Listed $105,000 Smart MLS
• 2009-09-25 Listing Removed — Smart MLS
• 2009-03-26 Listed $108,000 Smart MLS
• 2007-01-02 Sold (Public Records) $127,000 Public Records
• 2006-12-29 Sold (MLS) $127,000 Smart MLS
• 2006-10-17 Listed $127,000 Smart MLS
• 2004-05-19 Sold (Public Records) $109,000 Public Records
• 2004-05-19 Sold (Public Records) $109,000 Public Records
• 2004-05-14 Sold (MLS) $109,000 Smart MLS
• 2004-03-07 Listed $109,000 Smart MLS
• 2000-12-14 Sold (MLS) $75,000 Smart MLS
• 2000-10-16 Listed $75,000 Smart MLS

Property tax history

-1.0%/yr

Latest (2023): $1,963 · +2.2% YoY. Source: county tax records.