137-139 Woodstock Ave · Putnam, CT 06260

$225,000

6 bd · 3.0 ba · 2,803 sqft · MultiFamily · 4 Days on market

Built 1890 Fair condition 8,712 sqft lot $80/sqft · 28% below area Est $313k · 28% under ↓ 11% since listing

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

3 Family in the heart of Putnam located close to all the shopping and dining. Could be a great investment property or owner occupant. Each unit has 2 bedrooms and 1 bath. Two car garage in the rear with plenty of off street parking.

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1890

Property features AI

Exterior

• Parking: Detached garage; 2-car garage; Driveway parking; Total of 6 parking spaces
• Utilities: Public water connected; Public sewer connected; Hot water: Other
• Home design: Multi-family property (3-family)
• Construction: Wood siding; Frame construction; Stone foundation; Asphalt shingle roof
• Exterior features: Level lot; Private paved driveway; Off-street parking

Interior

• Bedrooms: 6 bedrooms total
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot water heating; Oil-fired heat; above-ground fuel tank
• Interior features: 12 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $225k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $504/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $225k).
• Cap rate 14.4% vs local median 3.4% in Putnam — 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 66/100 on livability (#117 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: health & safety D+, amenities F, commute F.
• Putnam School District (suburban): math 25% / reading 34% proficiency, ranked #126 of 153 in CT (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Putnam Elementary School (math 31% / reading 33%, grade F, #361 of 553 statewide, top 68%, 571 students, 57% FRL); Putnam High School (math 34% / reading 54%, grade F, #94 of 194 statewide, top 49%, 253 students, 48% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: 59 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.73% ✓
• Cap rate: 14.36%
• Cash-on-cash: 28.81%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

• ARV (median comp): $312,600
• List price: $225,000
• Delta: -28.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
137-139 Woodstock Ave	0.00mi	6/3.0	2,803 (0%)	1mo	$200,000	$71	100
66 Battey St	0.21mi	6/3.0	2,488 (-11%)	16mo	$355,000	$143	58
85 Vandale St	0.28mi	6/3.0	2,392 (-15%)	18mo	$310,000	$130	47
341 Woodstock Ave	0.55mi	5/2.0 (-1)	2,450 (-13%)	12mo	$375,000	$153	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 23.2%
• Equity multiple: 1.95×
• Total profit: $59,940
• Equity at exit: $33,548

10-year hold

• IRR: 31.1%
• Equity multiple: 3.80×
• Total profit: $176,488
• Equity at exit: $19,454

Cash invested: $63,000 (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 06260

• Home prices YoY: -4.3%
• Active inventory: 59
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $3,883 medium
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$815
• Net cashflow: $1,513

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,668	-5% $1,590	+0% $1,513	+5% $1,435	+10% $1,357
Rent	-10% $1,206	-5% $1,359	+0% $1,513	+5% $1,666	+10% $1,819
Rate	-1.0pp $1,626	-0.5pp $1,570	base $1,513	+0.5pp $1,454	+1.0pp $1,395

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,882
Total (3 units)			$3,883

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 School St Putnam, CT	7.0	3.0	2074	$1,500	$0.72	44d	1	0.94mi

Listing history 3 events

1. 2026-05-05
   status Under Contract 232-char remark
2. 2026-05-02
   listed $225,000 Active 232-char remark
3. 2026-04-30
   historical $225,000 232-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,596
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$3,728
• − Management: −$3,728
• − Depreciation: −$6,545
• Taxable income: $15,492
• Est. tax owed @ 24.0%: −$3,718
• After-tax cash flow: $14,434/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 · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate rehabilitation to improve its curb appeal and interior condition, enhancing both resale and rental value.

Repairs flagged

• Major exterior siding — Significant damage
• Major roof shingles — Worn and likely leaking
• Minor flooring — Worn but not damaged

Value-add opportunities

• Both exterior siding and roof — Improves curb appeal and value
• Both kitchen appliances — Modernizes and increases appeal
• Both bathroom fixtures — Enhances functionality and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant damage	Major	$15,000–50,000
roof shingles · Worn and likely leaking	Major	$15,000–50,000
flooring · Worn but not damaged	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both exterior siding and roof — Improves curb appeal and value ↑
• Both kitchen appliances — Modernizes and increases appeal ↑
• Both bathroom fixtures — Enhances functionality and 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: Putnam School District
• NCES district ID: 0903480
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 34% ▼ -19.00%
• Median HH income: $51,031
• Composite: 25.85/100
• National rank: #7349
• State rank: #126 of 153 in CT

Livability — Putnam

• Score: 66/100
• State rank: #117
• US rank: #11486

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Putnam, CT
• Population (ZIP): 9,227

Population outlook (Northeastern Connecticut County) Hauer SSP2

• By 2040: 104,160

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Lithuanian 18% Romanian 5% Scotch-Irish 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Northeastern Connecticut

• 2024 margin: R (+15.4) · D 41.5% · R 57.0% · Other 1.5%
• All cycles: 2024: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -14.95%
• Current HPI: 332.9661
• 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

-11.1% since first listed

4 events — show timeline

• 2026-06-02 Sold (MLS) $200,000 Smart MLS
• 2026-05-05 Pending — Smart MLS
• 2026-05-02 Listed $225,000 Smart MLS
• 2026-04-30 Coming Soon $225,000 Smart MLS