7 Old Farms Ln #7 · New Milford, CT 06776

$269,000

2 bd · 1.5 ba · 1,000 sqft · Condo · 23 Days on market

Built 1971 Fair condition $241/mo HOA · 9% 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 +12.4/30.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• Livability +4.3/5.0
• DSCR +3.7/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy Community Gardens, Hiking Trails & Commuter Conveniences, Very Efficient Heating System, Both Fha & Va Ok, 16' Mbr Full Basement W/Laundry Hook-Ups, Carport Private Patio, Call L/O For Full Details.

Key facts

• Galley kitchen
• Blue-stone patio
• Lush yard

Tags

• BLUE-STONE PATIO
• LUSH YARD
• GALLEY KITCHEN
• MOSAIC TILE BACKSPLASH
• BREAKFAST BAR
• DEDICATED LAUNDRY

Property features AI

Finance

• Other: Pets allowed with restrictions (indoor cats only); Part of a multi-unit community (95 total units)
• HOA & community: Homeowner's association with monthly fee; HOA fee covers grounds maintenance, trash pickup, snow removal, water, sewer, property management and road maintenance

Exterior

• Parking: Carport; Unit garage; Detached garage (1 garage)
• Utilities: Public water connected; Septic sewer; Electric service for heat and hot water
• Home design: Condominium (Condo/Co-Op for sale); Part of the Old Farms complex
• Construction: Frame and brick construction
• Exterior features: Brick siding; Gutters; Exterior lighting; Patio; Level lot

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Radiant heat (electric); Ceiling fans; Wall unit cooling; Window unit cooling; Programmable thermostat; Electric domestic hot water
• Interior features: Open floor plan; Cable pre-wired; Full finished basement with interior access and storage — livable space; Foyer
• Laundry & utility: Washer and dryer included; Laundry located on the lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $269k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-43 ($-513/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $260k (3.2% below list).
• Recommended offer: $260k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.6% in New Milford — 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 86/100 on livability (#2 in CT, #371 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: cost of living C-, amenities D-.
• 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: New Milford High School (math 33% / reading 62%, grade D, #91 of 194 statewide, top 47%, 1,247 students, 31% FRL) — zoned schools average 31% FRL vs 15% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 147 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• This rent runs 30% of the median local income ($104k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($265k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y 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 $88k; list at $269k implies a 207% gain — meaningful room to come down on a strong offer.

Recommended offer $260,407 (3.2% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1971 — 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. 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?
8. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.68%
• DSCR: 0.97
• GRM: 8.6

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-46,127
• Equity at exit: $40,109

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-42,914
• Equity at exit: $23,258

Cash invested: $75,320 (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: 8.6×

Monthly cashflow live

• Estimated rent: $2,604 medium
• Mortgage (P&I): −$1,411
• Tax est. 1.5%: −$336 /mo · $4,035/yr
• Insurance: −$112
• HOA: −$241
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $-43

Break-even live

Break-even rent $2,658

Max offer price $262,809

Occupancy floor 97%

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Old Farms Ln Unit 47 New Milford, CT	2.0	1.5	1000	$2,400	$2.40	44d	1	0.26mi
15 Fordyce Ct #12 New Milford, CT	3.0	1.0	950	$1,850	$1.95	44d	1	0.55mi
75 Lake Lillinonah Rd N Bridgewater, CT	2.0	2.0	1344	$7,500	$5.58	44d	1	1.17mi
67 Lake Lillinonah Rd N Bridgewater, CT	2.0	1.5	1152	$3,500	$3.04	44d	1	1.21mi

HOA detail condo

• Monthly dues: $241 · $2,892/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-04-30
   status Under Contract
2. 2026-04-23
   historical Under Contract - Continue to Show
3. 2026-04-06
   listed $269,000 Active
4. 2005-11-15
   historical
5. 2005-06-20
   listed $209,990
6. 1998-09-10
   soldstatus $87,500 220-char remark

   Show marketing remark (220 chars)

   Enjoy Community Gardens, Hiking Trails & Commuter Conveniences, Very Efficient Heating System, Both Fha & Va Ok, 16' Mbr Full Basement W/Laundry Hook-Ups, Carport Private Patio, Call L/O For Full Details.

7. 1998-07-23
   listed $89,900 220-char remark

   Show marketing remark (220 chars)

   Enjoy Community Gardens, Hiking Trails & Commuter Conveniences, Very Efficient Heating System, Both Fha & Va Ok, 16' Mbr Full Basement W/Laundry Hook-Ups, Carport Private Patio, Call L/O For Full Details.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $31,249
• − Mortgage interest: −$15,068
• − Property taxes: −$4,035
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,500
• − Management: −$2,500
• − HOA: −$2,892
• − Depreciation: −$7,825
• Taxable loss: −$4,917
• Est. tax savings @ 24.0%: +$1,180
• After-tax cash flow: $667/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This tri-level brick townhome requires moderate repairs and maintenance, with potential for significant value increase through painting and updating the kitchen backsplash.

Repairs flagged

• Minor Exterior paint — Faded paint on exterior
• Minor Interior paint — Faded paint in some areas
• Minor Kitchen backsplash — Appears worn

Value-add opportunities

• Both Painting and updating kitchen backsplash — Enhances curb appeal and interior aesthetics
• Both Landscaping — Improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior paint · Faded paint on exterior	Minor	$500–3,000
Interior paint · Faded paint in some areas	Minor	$500–3,000
Kitchen backsplash · Appears worn	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Painting and updating kitchen backsplash — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping — Improves curb appeal and enhances property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — New Milford

• Score: 86/100
• State rank: #2
• US rank: #371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Milford, CT
• County: Litchfield County · 81,203 people
• City population: 27,010
• 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

+199.2% since first listed

7 events — show timeline

• 2026-04-30 Pending — Smart MLS
• 2026-04-23 Contingent — Smart MLS
• 2026-04-06 Listed $269,000 Smart MLS
• 2005-11-15 Listing Removed — Smart MLS
• 2005-06-20 Listed $209,990 Smart MLS
• 1998-09-10 Sold (MLS) $87,500 Smart MLS
• 1998-07-23 Listed $89,900 Smart MLS