26 Field St · Pawcatuck, CT 06379

$479,000

3 bd · 2.0 ba · 1,936 sqft · SingleFamily public records · 20 Days on market

Built 1946 0.72 ac lot $247/sqft · 5% below area Est $492k · at est.

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Why this score? — see what drove the C- 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 +20.0/30.0
• ARV discount +8.7/15.0
• DSCR +6.3/10.0
• Schools +5.5/10.0
• 1% rule +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the desirable Pawcatuck section of Stonington, 26 Field Street offers a rare blend of space, flexibility, and future potential. This well-sized 4-bedroom, 2-bath home spans 1,883 square feet and includes a promising .28 acre BUILDING LOT- Fellows St Stonington CT 06378 New London 09011-making it an ideal opportunity for both homeowners and investors alike. Inside, the home features a functional layout with generous living space, providing room to grow, entertain, or customize to your vision. The property's lot size aligns with current zoning requirements for potential subdivision, offering the unique opportunity to build an additional home or explore development options. Buyers are encouraged to perform their own verification using a land use attorney and surveyor. Conveniently located near the Westerly, RI border, this home provides easy access to local beaches, shops, dining, and major routes-while still maintaining a quiet residential feel. Whether you're looking for a primary residence with upside, an investment opportunity, or future development potential, 26 Field Street delivers versatility in a sought-after location!

Key facts

• Sub-dividable lot
• 0.72 acre lot
• Built 1946

Tags

• SUB-DIVIDABLE LOT
• POTENTIAL SUBDIVISION
• EASY ACCESS TO LOCAL BEACHES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $479k.

Deal economics

• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $466k (2.7% below list).
• Recommended offer: $466k (2.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#81 in CT) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A; Watch: amenities F, commute F.
• Stonington School District (suburban): math 54% / reading 70% proficiency, ranked #43 of 153 in CT (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 25 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($472k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $125k; list at $479k implies a 283% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $465,867 (2.7% below list)

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.26%
• DSCR: 1.23
• GRM: 8.6

CMA / ARV

• ARV (median comp): $492,128
• List price: $479,000
• Delta: -2.67%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 C St	0.73mi	4/2.0 (+1)	1,992 (+3%)	24mo	$380,000	$191	36
115 Main St	0.61mi	2/1.0 (-1)	1,760 (-9%)	14mo	$375,000	$213	36

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: -8.2%
• Equity multiple: 0.70×
• Total profit: $-40,253
• Equity at exit: $71,420

10-year hold

• IRR: 1.4%
• Equity multiple: 1.10×
• Total profit: $12,887
• Equity at exit: $41,415

Cash invested: $134,120 (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 06379

• Active inventory: 25
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $4,659 high
• Mortgage (P&I): −$2,512
• Tax from tax record: −$381 /mo · $4,574/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$978
• Net cashflow: $588

Break-even live

Break-even rent $3,915

Max offer price $479,000

Occupancy floor 82%

Sensitivity live

Price	-10% $859	-5% $723	+0% $588	+5% $452	+10% $317
Rent	-10% $220	-5% $404	+0% $588	+5% $772	+10% $956
Rate	-1.0pp $829	-0.5pp $710	base $588	+0.5pp $464	+1.0pp $337

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 Fellows St Pawcatuck, CT	3.0	2.0	1649	$5,000	$3.03	4d	1	0.08mi
15 Trumbull St Stonington, CT	3.0	2.5	1466	$6,000	$4.09	44d	1	0.84mi
67 Granite St Westerly, RI	4.0	1.5	1763	$3,650	$2.07	3d	1	1.03mi
16 West St Unit 3 Westerly, RI	2.0	1.0	1307	$1,750	$1.34	2d	1	1.19mi
9 Woodlund Ave Westerly, RI	3.0	1.0	1347	$3,200	$2.38	11d	1	1.28mi
9 Woodlund Ave Westerly, RI	3.0	1.0	1347	$3,200	$2.38	2d	1	1.28mi

Listing history 4 events

1. 2026-05-05
   status Under Contract 1159-char remark

   Show marketing remark (1159 chars)

   Located in the desirable Pawcatuck section of Stonington, 26 Field Street offers a rare blend of space, flexibility, and future potential. This well-sized 4-bedroom, 2-bath home spans 1,883 square feet and includes a promising .28 acre BUILDING LOT- Fellows St Stonington CT 06378 New London 09011-making it an ideal opportunity for both homeowners and investors alike. Inside, the home features a functional layout with generous living space, providing room to grow, entertain, or customize to your vision. The property's lot size aligns with current zoning requirements for potential subdivision, offering the unique opportunity to build an additional home or explore development options. Buyers are encouraged to perform their own verification using a land use attorney and surveyor. Conveniently located near the Westerly, RI border, this home provides easy access to local beaches, shops, dining, and major routes-while still maintaining a quiet residential feel. Whether you're looking for a primary residence with upside, an investment opportunity, or future development potential, 26 Field Street delivers versatility in a sought-after location!

2. 2026-04-29
   price $479,000 1159-char remark

   Show marketing remark (1159 chars)

   Located in the desirable Pawcatuck section of Stonington, 26 Field Street offers a rare blend of space, flexibility, and future potential. This well-sized 4-bedroom, 2-bath home spans 1,883 square feet and includes a promising .28 acre BUILDING LOT- Fellows St Stonington CT 06378 New London 09011-making it an ideal opportunity for both homeowners and investors alike. Inside, the home features a functional layout with generous living space, providing room to grow, entertain, or customize to your vision. The property's lot size aligns with current zoning requirements for potential subdivision, offering the unique opportunity to build an additional home or explore development options. Buyers are encouraged to perform their own verification using a land use attorney and surveyor. Conveniently located near the Westerly, RI border, this home provides easy access to local beaches, shops, dining, and major routes-while still maintaining a quiet residential feel. Whether you're looking for a primary residence with upside, an investment opportunity, or future development potential, 26 Field Street delivers versatility in a sought-after location!

3. 2026-04-15
   listed $500,000 Active 1159-char remark

   Show marketing remark (1159 chars)

   Located in the desirable Pawcatuck section of Stonington, 26 Field Street offers a rare blend of space, flexibility, and future potential. This well-sized 4-bedroom, 2-bath home spans 1,883 square feet and includes a promising .28 acre BUILDING LOT- Fellows St Stonington CT 06378 New London 09011-making it an ideal opportunity for both homeowners and investors alike. Inside, the home features a functional layout with generous living space, providing room to grow, entertain, or customize to your vision. The property's lot size aligns with current zoning requirements for potential subdivision, offering the unique opportunity to build an additional home or explore development options. Buyers are encouraged to perform their own verification using a land use attorney and surveyor. Conveniently located near the Westerly, RI border, this home provides easy access to local beaches, shops, dining, and major routes-while still maintaining a quiet residential feel. Whether you're looking for a primary residence with upside, an investment opportunity, or future development potential, 26 Field Street delivers versatility in a sought-after location!

4. 2002-03-25
   soldstatus $125,000

ⓘ 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: $4,574 · $381/mo
• Projected year-2 tax: $7,412 · $618/mo
• Expected delta: +$2,838/yr (+$237/mo · 62.1%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $55,904
• − Mortgage interest: −$26,831
• − Property taxes: −$4,574
• − Insurance: −$2,395
• − Repairs & maintenance: −$4,472
• − Management: −$4,472
• − Depreciation: −$13,935
• Taxable loss: −$776
• Est. tax savings @ 24.0%: +$186
• After-tax cash flow: $7,238/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: Stonington School District
• NCES district ID: 0904380
• Math proficiency: 54% ▼ -10.00%
• Reading proficiency: 70% ▼ -7.00%
• Median HH income: $75,939
• Composite: 55.15/100
• National rank: #1280
• State rank: #43 of 153 in CT

Livability — Pawcatuck

• Score: 72/100
• State rank: #81
• US rank: #6033

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pawcatuck, CT
• City population: 9,003
• Population (ZIP): 9,003

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 3% Black 3% Asian 2%
• Common ancestry: Russian 6% Lithuanian 5% Slovak 5%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Spanish 1% French/Haitian/Cajun 0%

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: ▼ -139.18%
• Current HPI: 187.2421
• 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

+283.2% since first listed

4 events — show timeline

• 2026-05-05 Pending — Smart MLS
• 2026-04-29 Price Changed $479,000 Smart MLS
• 2026-04-15 Listed $500,000 Smart MLS
• 2002-03-25 Sold (Public Records) $125,000 Public Records

Property tax history

+2.4%/yr

Latest (2022): $4,574 · -0.2% YoY. Source: county tax records.