18 Maxson St · Mystic, CT 06355

$650,000

4 bd · 2.0 ba · 1,746 sqft · SingleFamily public records · 70 Days on market

Built 1910 0.36 ac lot $372/sqft · 13% below area Est $747k · 13% under

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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).

• ARV discount +13.4/15.0
• Cash flow +10.8/30.0
• Livability +4.1/5.0
• Schools +3.6/10.0
• DSCR +3.1/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

18 Maxson Street | West Mystic, Groton, CT AS-IS SALE A rare opportunity in the heart of West Mystic - steps from the Mystic River, marinas, and the iconic Mystic Shipyard. This c.1910 Victorian-style home sits on an oversized 0.365-acre corner lot (15,899 SF) and has been fully gutted to the studs, offering a true blank canvas for a discerning renovator or developer. The 1,746 SF, 4-bed/2-bath frame sits across three levels including a full basement with original brick foundation columns. Charming period details survive throughout. Original hardwood floors are intact and restorable. Framing, foundation, and structural elements are exposed and accessible for efficient finish work. Zoned RS-12 in the Mystic district of Groton. The generous lot offers potential for accessory structures. Note: property falls within FEMA Flood Zone AE. Whether you're envisioning a primary waterfront retreat or a high-value investment property, 18 Maxson Street delivers the location, character, and scale that rarely come together in coastal Connecticut.

Key facts

• Oversized corner lot
• Fully gutted
• Zoned rs-12

Tags

• OVERSIZED CORNER LOT
• FULLY GUTTED
• ORIGINAL BRICK FOUNDATION
• ORIGINAL HARDWOOD FLOORS
• ZONED RS-12

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $650k.

Deal economics

• At list price, monthly cash flow is $-302 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $597k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $501k (22.9% below list).
• Recommended offer: $501k (22.9% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.0% 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.
• Groton School District (suburban): math 32% / reading 50% proficiency, ranked #96 of 153 in CT (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 84 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• This rent runs 44% of the median local income ($137k/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 $4k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($611k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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 $405k; list at $650k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $501,032 (22.9% 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 70 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.77% ✗
• Cap rate: 5.73%
• Cash-on-cash: -1.99%
• DSCR: 0.91
• GRM: 10.8

CMA / ARV

• ARV (median comp): $747,236
• List price: $650,000
• Delta: -13.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Ocean View Ave	0.39mi	3/2.0 (-1)	1,804 (+3%)	9mo	$450,000	$249	64
8 Lapstrake Ct	0.60mi	3/2.0 (-1)	1,805 (+3%)	2mo	$550,000	$305	59
4 Judson Ave	0.39mi	3/1.5 (-1)	1,920 (+10%)	0mo	$605,000	$315	58
130 Ocean View Ave	0.47mi	3/2.0 (-1)	1,636 (-6%)	7mo	$730,000	$446	57
24 W Mystic Ave	0.29mi	3/1.5 (-1)	1,560 (-11%)	7mo	$785,000	$503	56
136 Ocean View Ave	0.46mi	3/2.0 (-1)	1,580 (-10%)	8mo	$617,000	$391	51
141 Capstan Ave	0.61mi	3/2.0 (-1)	1,615 (-8%)	4mo	$490,000	$303	50
24 Warren Ave	0.53mi	3/2.0 (-1)	1,897 (+9%)	9mo	$795,000	$419	48
133 Capstan Ave	0.62mi	3/2.0 (-1)	1,836 (+5%)	12mo	$539,000	$294	48
151 Ocean View Ave	0.46mi	3/2.0 (-1)	1,484 (-15%)	4mo	$670,000	$451	46
69 Bay View Ave	0.54mi	4/2.0	1,997 (+14%)	8mo	$740,000	$371	44
18 Charles St	0.65mi	3/2.0 (-1)	1,910 (+9%)	11mo	$520,000	$272	39

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: -19.6%
• Equity multiple: 0.32×
• Total profit: $-124,657
• Equity at exit: $96,917

10-year hold

• IRR: -12.4%
• Equity multiple: 0.27×
• Total profit: $-133,623
• Equity at exit: $56,200

Cash invested: $182,000 (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 06355

• Home prices YoY: -17.8%
• Active inventory: 84
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $5,010 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$581 /mo · $6,973/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,052
• Net cashflow: $-302

Break-even live

Break-even rent $5,393

Max offer price $596,574

Occupancy floor —

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Ashby St Mystic, CT	3.0	2.0	1842	$8,000	$4.34	44d	1	0.48mi
99 Bay View Ave Mystic, CT	3.0	2.0	1668	$8,500	$5.10	44d	1	0.48mi
73 Warren Ave Mystic, CT	3.0	1.5	1432	$3,000	$2.09	13d	1	0.62mi
54 High St Mystic, CT	3.0	2.5	1826	$3,800	$2.08	44d	1	0.64mi
26 Academy Ln Mystic, CT	4.0	2.0	1858	$3,550	$1.91	44d	1	0.91mi
270 Elm St Groton, CT	3.0	1.0	1300	$6,500	$5.00	13d	1	0.97mi
22 School St Mystic, CT	3.0	2.0	1584	$4,500	$2.84	21d	1	1.18mi
308 Noank Ledyard Rd Mystic, CT	3.0	2.0	1500	$3,500	$2.33	13d	1	1.39mi

Listing history 19 events

1. 2026-03-12
   listed $650,000 Active 1048-char remark

   Show marketing remark (1048 chars)

   18 Maxson Street | West Mystic, Groton, CT AS-IS SALE A rare opportunity in the heart of West Mystic - steps from the Mystic River, marinas, and the iconic Mystic Shipyard. This c.1910 Victorian-style home sits on an oversized 0.365-acre corner lot (15,899 SF) and has been fully gutted to the studs, offering a true blank canvas for a discerning renovator or developer. The 1,746 SF, 4-bed/2-bath frame sits across three levels including a full basement with original brick foundation columns. Charming period details survive throughout. Original hardwood floors are intact and restorable. Framing, foundation, and structural elements are exposed and accessible for efficient finish work. Zoned RS-12 in the Mystic district of Groton. The generous lot offers potential for accessory structures. Note: property falls within FEMA Flood Zone AE. Whether you're envisioning a primary waterfront retreat or a high-value investment property, 18 Maxson Street delivers the location, character, and scale that rarely come together in coastal Connecticut.

2. 2025-06-23
   soldstatus $405,000 Closed 1014-char remark

   Show marketing remark (1014 chars)

   Charming Vintage Home with Water Views - 18 Maxson St, Mystic, CT Experience the essence of coastal living at 18 Maxson St, located in the heart of Mystic, CT. This charming vintage home has captivating water views and an unbeatable location within walking distance to Mystic Shipyard, multiple water access points - including a free boat launch area - and the vibrant downtown Mystic scene. Featuring 4 spacious bedrooms and 2 full bathrooms, this 1,746 sq ft home is brimming with potential. Set on a 0.36-acre lot with off-street parking, it's an ideal opportunity for those looking to invest or create their dream home. Please note: This property is in need of complete renovations and is being sold as-is. It presents an excellent opportunity for cash buyers and rehab investors looking to transform this vintage gem into a modern masterpiece. Bring your vision and creativity to life in this prime Mystic location! Schedule your private tour of 18 Maxson St today and explore the potential this property has.

3. 2025-05-21
   status Under Contract 1014-char remark

   Show marketing remark (1014 chars)

   Charming Vintage Home with Water Views - 18 Maxson St, Mystic, CT Experience the essence of coastal living at 18 Maxson St, located in the heart of Mystic, CT. This charming vintage home has captivating water views and an unbeatable location within walking distance to Mystic Shipyard, multiple water access points - including a free boat launch area - and the vibrant downtown Mystic scene. Featuring 4 spacious bedrooms and 2 full bathrooms, this 1,746 sq ft home is brimming with potential. Set on a 0.36-acre lot with off-street parking, it's an ideal opportunity for those looking to invest or create their dream home. Please note: This property is in need of complete renovations and is being sold as-is. It presents an excellent opportunity for cash buyers and rehab investors looking to transform this vintage gem into a modern masterpiece. Bring your vision and creativity to life in this prime Mystic location! Schedule your private tour of 18 Maxson St today and explore the potential this property has.

4. 2025-05-12
   price $485,000 1014-char remark

   Show marketing remark (1014 chars)

   Charming Vintage Home with Water Views - 18 Maxson St, Mystic, CT Experience the essence of coastal living at 18 Maxson St, located in the heart of Mystic, CT. This charming vintage home has captivating water views and an unbeatable location within walking distance to Mystic Shipyard, multiple water access points - including a free boat launch area - and the vibrant downtown Mystic scene. Featuring 4 spacious bedrooms and 2 full bathrooms, this 1,746 sq ft home is brimming with potential. Set on a 0.36-acre lot with off-street parking, it's an ideal opportunity for those looking to invest or create their dream home. Please note: This property is in need of complete renovations and is being sold as-is. It presents an excellent opportunity for cash buyers and rehab investors looking to transform this vintage gem into a modern masterpiece. Bring your vision and creativity to life in this prime Mystic location! Schedule your private tour of 18 Maxson St today and explore the potential this property has.

5. 2025-04-22
   price $525,000 1014-char remark

   Show marketing remark (1014 chars)

   Charming Vintage Home with Water Views - 18 Maxson St, Mystic, CT Experience the essence of coastal living at 18 Maxson St, located in the heart of Mystic, CT. This charming vintage home has captivating water views and an unbeatable location within walking distance to Mystic Shipyard, multiple water access points - including a free boat launch area - and the vibrant downtown Mystic scene. Featuring 4 spacious bedrooms and 2 full bathrooms, this 1,746 sq ft home is brimming with potential. Set on a 0.36-acre lot with off-street parking, it's an ideal opportunity for those looking to invest or create their dream home. Please note: This property is in need of complete renovations and is being sold as-is. It presents an excellent opportunity for cash buyers and rehab investors looking to transform this vintage gem into a modern masterpiece. Bring your vision and creativity to life in this prime Mystic location! Schedule your private tour of 18 Maxson St today and explore the potential this property has.

6. 2025-04-03
   price $550,000 1014-char remark

   Show marketing remark (1014 chars)

   Charming Vintage Home with Water Views - 18 Maxson St, Mystic, CT Experience the essence of coastal living at 18 Maxson St, located in the heart of Mystic, CT. This charming vintage home has captivating water views and an unbeatable location within walking distance to Mystic Shipyard, multiple water access points - including a free boat launch area - and the vibrant downtown Mystic scene. Featuring 4 spacious bedrooms and 2 full bathrooms, this 1,746 sq ft home is brimming with potential. Set on a 0.36-acre lot with off-street parking, it's an ideal opportunity for those looking to invest or create their dream home. Please note: This property is in need of complete renovations and is being sold as-is. It presents an excellent opportunity for cash buyers and rehab investors looking to transform this vintage gem into a modern masterpiece. Bring your vision and creativity to life in this prime Mystic location! Schedule your private tour of 18 Maxson St today and explore the potential this property has.

7. 2025-03-23
   price $595,000 1014-char remark

   Show marketing remark (1014 chars)

   Charming Vintage Home with Water Views - 18 Maxson St, Mystic, CT Experience the essence of coastal living at 18 Maxson St, located in the heart of Mystic, CT. This charming vintage home has captivating water views and an unbeatable location within walking distance to Mystic Shipyard, multiple water access points - including a free boat launch area - and the vibrant downtown Mystic scene. Featuring 4 spacious bedrooms and 2 full bathrooms, this 1,746 sq ft home is brimming with potential. Set on a 0.36-acre lot with off-street parking, it's an ideal opportunity for those looking to invest or create their dream home. Please note: This property is in need of complete renovations and is being sold as-is. It presents an excellent opportunity for cash buyers and rehab investors looking to transform this vintage gem into a modern masterpiece. Bring your vision and creativity to life in this prime Mystic location! Schedule your private tour of 18 Maxson St today and explore the potential this property has.

8. 2025-03-08
   price $600,000 1014-char remark

   Show marketing remark (1014 chars)

   Charming Vintage Home with Water Views - 18 Maxson St, Mystic, CT Experience the essence of coastal living at 18 Maxson St, located in the heart of Mystic, CT. This charming vintage home has captivating water views and an unbeatable location within walking distance to Mystic Shipyard, multiple water access points - including a free boat launch area - and the vibrant downtown Mystic scene. Featuring 4 spacious bedrooms and 2 full bathrooms, this 1,746 sq ft home is brimming with potential. Set on a 0.36-acre lot with off-street parking, it's an ideal opportunity for those looking to invest or create their dream home. Please note: This property is in need of complete renovations and is being sold as-is. It presents an excellent opportunity for cash buyers and rehab investors looking to transform this vintage gem into a modern masterpiece. Bring your vision and creativity to life in this prime Mystic location! Schedule your private tour of 18 Maxson St today and explore the potential this property has.

9. 2025-02-14
   listed $650,000 Active 1014-char remark

   Show marketing remark (1014 chars)

   Charming Vintage Home with Water Views - 18 Maxson St, Mystic, CT Experience the essence of coastal living at 18 Maxson St, located in the heart of Mystic, CT. This charming vintage home has captivating water views and an unbeatable location within walking distance to Mystic Shipyard, multiple water access points - including a free boat launch area - and the vibrant downtown Mystic scene. Featuring 4 spacious bedrooms and 2 full bathrooms, this 1,746 sq ft home is brimming with potential. Set on a 0.36-acre lot with off-street parking, it's an ideal opportunity for those looking to invest or create their dream home. Please note: This property is in need of complete renovations and is being sold as-is. It presents an excellent opportunity for cash buyers and rehab investors looking to transform this vintage gem into a modern masterpiece. Bring your vision and creativity to life in this prime Mystic location! Schedule your private tour of 18 Maxson St today and explore the potential this property has.

10. 2015-07-27
    soldstatus $334,000
11. 2015-07-27
    soldstatus $334,000
12. 2015-05-22
    historical
13. 2015-04-02
    listed $338,000
14. 2015-01-23
    historical
15. 2014-05-15
    listed $349,000
16. 2014-04-12
    historical
17. 2013-09-28
    listed $355,000
18. 2013-03-02
    historical
19. 2012-09-14
    listed $349,900

ⓘ 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: $6,973 · $581/mo
• Projected year-2 tax: $10,442 · $870/mo
• Expected delta: +$3,468/yr (+$289/mo · 49.7%)

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

Taxation est. · year 1

• Rental income: $60,124
• − Mortgage interest: −$36,410
• − Property taxes: −$6,973
• − Insurance: −$3,250
• − Repairs & maintenance: −$4,810
• − Management: −$4,810
• − Depreciation: −$18,909
• Taxable loss: −$15,038
• Est. tax savings @ 24.0%: +$3,609
• After-tax cash flow: $-20/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: Groton School District
• NCES district ID: 0901770
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 50% ▼ -10.00%
• Median HH income: $60,709
• Composite: 36.28/100
• National rank: #4702
• State rank: #96 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): 12,173
• Household income: $137,425
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 197.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 9% Asian 4% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 6% Romanian 6% Slovak 5%
• Foreign-born: 7% · Canada, China
• Languages at home: 94% English-only · Other Indo-European 2% Spanish 1% 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: ▼ -62.46%
• Current HPI: 287.7568
• 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

+85.8% since first listed

19 events — show timeline

• 2026-03-12 Listed $650,000 Smart MLS
• 2025-06-23 Sold (MLS) $405,000 Smart MLS
• 2025-05-21 Pending — Smart MLS
• 2025-05-12 Price Changed $485,000 Smart MLS
• 2025-04-22 Price Changed $525,000 Smart MLS
• 2025-04-03 Price Changed $550,000 Smart MLS
• 2025-03-23 Price Changed $595,000 Smart MLS
• 2025-03-08 Price Changed $600,000 Smart MLS
• 2025-02-14 Listed $650,000 Smart MLS
• 2015-07-27 Sold (Public Records) $334,000 Public Records
• 2015-07-27 Sold (MLS) $334,000 Smart MLS
• 2015-05-22 Listing Removed — Smart MLS
• 2015-04-02 Listed $338,000 Smart MLS
• 2015-01-23 Listing Removed — Smart MLS
• 2014-05-15 Listed $349,000 Smart MLS
• 2014-04-12 Listing Removed — Smart MLS
• 2013-09-28 Listed $355,000 Smart MLS
• 2013-03-02 Listing Removed — Smart MLS
• 2012-09-14 Listed $349,900 Smart MLS

Property tax history

+2.2%/yr

Latest (2022): $6,973 · +7.6% YoY. Source: county tax records.