60 Heritage Hill Rd Unit A · New Canaan, CT 06840

$419,000

1 bd · 1.0 ba · 798 sqft · Condo public records · 22 Days on market

Built 1965 $525/sqft · 15% below area Est $493k · 15% under $506/mo HOA · 13% of rent

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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).

• ARV discount +14.3/15.0
• Cash flow +12.8/30.0
• Schools +8.1/10.0
• 1% rule +4.5/10.0
• DSCR +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Terrific end unit in a wonderful location ... just a short walk to town, train, restaurants and shops! This convenient first floor condo is the closest to town in the complex and offers pretty views with 3 exposures and lots of light. It shows beautifully and features hardwood floors, extra storage, laundry in the basement and access to the community pool. Heat and hot water included in common charges ... PLUS it has a garage! Please see listing documents for list of recent improvements. Special Assessment has been paid in full. Garage is separately deeded and taxes are an additional $226.00/year Assoc. has right of 1st refusal. $125 move-in/out fees. Sep. deed & tax for gar.#1 Original windows w/new storms & screen

Key facts

• Flexible floor plan
• Sweeping views
• Upgraded kitchen

Tags

• ELEVATED END-UNIT
• SWEEPING VIEWS
• EXCEPTIONAL NATURAL LIGHT
• UPGRADED KITCHEN
• LARGE WALK-IN CLOSET
• FLEXIBLE FLOOR PLAN

Property features AI

Finance

• Other: Professionally managed off-site; Pets allowed with restrictions
• HOA & community: Monthly HOA fee (includes grounds maintenance, trash pickup, snow removal, heat, hot water, property management, insurance)

Exterior

• Parking: Off-street parking; 1 parking space
• Utilities: Public water; Public sewer
• Home design: Condominium (unit on first floor); End unit; Part of Oenoke complex
• Construction: Brick construction
• Exterior features: Brick siding; Sloping lot; In-ground swimming pool; Community pool

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher; Garbage disposal
• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating (oil); Central air
• Interior features: Central air conditioning; Shared basement
• Laundry & utility: Shared laundry in basement; Hot water: other; Oil-fired hot air heating; fuel tank located in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $419k.

Deal economics

• At list price, monthly cash flow is $-40 ($-477/yr) — negative.
• To cash-flow at today's rent, offer at most $412k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $399k (4.7% below list).
• Recommended offer: $399k (4.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 1.5% in New Canaan — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• New Canaan School District (suburban): math 81% / reading 86% proficiency, ranked #1 of 153 in CT (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 6% free/reduced lunch — higher-income household profile.
• Zoned schools: New Canaan High School (math 77% / reading 92%, grade A, #1 of 194 statewide, top 1%, 1,294 students, 0% FRL).
• Market conditions: 165 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 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 $13k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($413k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 $325k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 59% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,216 (4.7% 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. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• GRM: 8.7

CMA / ARV

• ARV (median comp): $493,251
• List price: $419,000
• Delta: -4.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-70,183
• Equity at exit: $62,474

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-63,383
• Equity at exit: $36,227

Cash invested: $117,320 (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 06840

• Active inventory: 165
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $3,992 high
• Mortgage (P&I): −$2,197
• Tax from tax record: −$316 /mo · $3,788/yr
• Insurance: −$175
• HOA: −$506
• Vacancy / Maint / Mgmt: −$838
• Net cashflow: $-40

Break-even live

Break-even rent $4,042

Max offer price $411,982

Occupancy floor 96%

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
62 Heritage Hill Rd Unit D New Canaan, CT	1.0	1.0	799	$3,100	$3.88	19d	1	0.06mi
8 Husted Ln Unit 1D New Canaan, CT	2.0	2.0	1050	$5,975	$5.69	23d	1	0.06mi
80 Heritage Hill Rd Unit C New Canaan, CT	1.0	1.0	799	$3,100	$3.88	44d	1	0.09mi
88 Heritage Hill Rd Unit A New Canaan, CT	2.0	1.0	927	$3,575	$3.86	14d	1	0.10mi
88 Main St New Canaan, CT	1.0	1.0	715	$2,900	$4.06	44d	1	0.19mi
192 Park St #4 New Canaan, CT	2.0	1.0	699	$3,000	$4.29	14d	1	0.42mi
31 Ledge Ave #2 New Canaan, CT	1.0	1.5	750	$2,950	$3.93	44d	1	0.43mi
83 South Ave Unit E New Canaan, CT	1.0	1.0	615	$2,850	$4.63	12d	1	0.43mi
104 Summer St Unit 2A New Canaan, CT	1.0	1.0	654	$2,200	$3.36	14d	1	0.45mi
100 Lakeview Ave New Canaan, CT	2.0–3.0	2.0	1255	$3,935	$3.14	2d	8	0.72mi

HOA detail condo

• Monthly dues: $506 · $6,072/yr
• Likely covers: waterpool
• ⚠ Special-assessment mentions:

  …included in common charges ... PLUS it has a garage! Please see listing documents for list of recent improvements. Special Assessment has been paid in full. Garage is separately deeded and taxes are an additional $226.00/year Assoc. has right of 1st…

Listing history 25 events

1. 2026-06-18
   days on market $419,000 Active 22 DOM
2. 2026-06-17
   days on market $419,000 Active 21 DOM
3. 2026-06-16
   days on market $419,000 Active 20 DOM
4. 2026-06-15
   days on market $419,000 Active 19 DOM
5. 2026-06-13
   days on market $419,000 Active 17 DOM
6. 2026-06-10
   days on market $419,000 Active 14 DOM
7. 2026-06-09
   days on market $419,000 Active 13 DOM
8. 2026-06-08
   days on market $419,000 Active 12 DOM
9. 2026-06-07
   days on market $419,000 Active 11 DOM
10. 2026-06-05
    days on market $419,000 Active 8 DOM
11. 2026-06-03
    days on market $419,000 Active 7 DOM
12. 2026-06-03
    days on market $419,000 Active 6 DOM
13. 2026-06-01
    days on market $419,000 Active 5 DOM
14. 2026-05-31
    days on market $419,000 Active 4 DOM
15. 2026-04-16
    listed $469,000 Active 880-char remark
16. 2016-09-29
    soldstatus $325,000 735-char remark

    Show marketing remark (735 chars)

    Terrific end unit in a wonderful location ... just a short walk to town, train, restaurants and shops! This convenient first floor condo is the closest to town in the complex and offers pretty views with 3 exposures and lots of light. It shows beautifully and features hardwood floors, extra storage, laundry in the basement and access to the community pool. Heat and hot water included in common charges ... PLUS it has a garage! Please see listing documents for list of recent improvements. Special Assessment has been paid in full. Garage is separately deeded and taxes are an additional $226.00/year Assoc. has right of 1st refusal. $125 move-in/out fees. Sep. deed & tax for gar.#1 Original windows w/new storms & screen

17. 2016-09-29
    soldstatus $325,000

    Show marketing remark (735 chars)

    Terrific end unit in a wonderful location ... just a short walk to town, train, restaurants and shops! This convenient first floor condo is the closest to town in the complex and offers pretty views with 3 exposures and lots of light. It shows beautifully and features hardwood floors, extra storage, laundry in the basement and access to the community pool. Heat and hot water included in common charges ... PLUS it has a garage! Please see listing documents for list of recent improvements. Special Assessment has been paid in full. Garage is separately deeded and taxes are an additional $226.00/year Assoc. has right of 1st refusal. $125 move-in/out fees. Sep. deed & tax for gar.#1 Original windows w/new storms & screen

18. 2016-08-02
    historical 735-char remark

    Show marketing remark (735 chars)

    Terrific end unit in a wonderful location ... just a short walk to town, train, restaurants and shops! This convenient first floor condo is the closest to town in the complex and offers pretty views with 3 exposures and lots of light. It shows beautifully and features hardwood floors, extra storage, laundry in the basement and access to the community pool. Heat and hot water included in common charges ... PLUS it has a garage! Please see listing documents for list of recent improvements. Special Assessment has been paid in full. Garage is separately deeded and taxes are an additional $226.00/year Assoc. has right of 1st refusal. $125 move-in/out fees. Sep. deed & tax for gar.#1 Original windows w/new storms & screen

19. 2016-06-01
    listed $325,000 735-char remark

    Show marketing remark (735 chars)

    Terrific end unit in a wonderful location ... just a short walk to town, train, restaurants and shops! This convenient first floor condo is the closest to town in the complex and offers pretty views with 3 exposures and lots of light. It shows beautifully and features hardwood floors, extra storage, laundry in the basement and access to the community pool. Heat and hot water included in common charges ... PLUS it has a garage! Please see listing documents for list of recent improvements. Special Assessment has been paid in full. Garage is separately deeded and taxes are an additional $226.00/year Assoc. has right of 1st refusal. $125 move-in/out fees. Sep. deed & tax for gar.#1 Original windows w/new storms & screen

20. 2016-05-27
    historical
21. 2015-09-12
    listed $325,000
22. 2014-01-23
    soldstatus $243,500
23. 2014-01-22
    soldstatus $243,500
24. 2013-06-06
    listed $269,000
25. 1996-07-01
    soldstatus $166,000

ⓘ 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: $3,788 · $316/mo
• Projected year-2 tax: $6,377 · $531/mo
• Expected delta: +$2,589/yr (+$216/mo · 68.4%)

ⓘ 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 5/10 Major 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,906
• − Mortgage interest: −$23,471
• − Property taxes: −$3,788
• − Insurance: −$2,095
• − Repairs & maintenance: −$3,832
• − Management: −$3,832
• − HOA: −$6,072
• − Depreciation: −$12,189
• Taxable loss: −$7,374
• Est. tax savings @ 24.0%: +$1,770
• After-tax cash flow: $1,293/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: New Canaan School District
• NCES district ID: 0902700
• Math proficiency: 81% ▼ -6.00%
• Reading proficiency: 86% ▼ -4.00%
• Median HH income: $164,303
• Composite: 81.47/100
• National rank: #38
• State rank: #1 of 153 in CT

Livability — New Canaan

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: New Canaan, CT
• County: Fairfield County · 765,532 people
• City population: 20,870
• Metro: Bridgeport-Stamford-Norwalk, CT
• Population (ZIP): 20,870
• Household income: $250,001
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 261.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 7% Asian 6% Hispanic / Latino 5% Black 2%
• Common ancestry: Romanian 5% Lithuanian 4% Italian 2%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 85% English-only · Other Indo-European 6% Chinese 2% Spanish 2%

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: ▼ -480.93%
• Current HPI: 232.5667
• Rent YoY: —
• Metro: Bridgeport-Stamford-Norwalk, 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

+152.4% since first listed

13 events — show timeline

• 2026-05-27 Listed $419,000 Smart MLS
• 2026-05-25 Listing Removed — Smart MLS
• 2026-04-16 Listed $469,000 Smart MLS
• 2016-09-29 Sold (Public Records) $325,000 Public Records
• 2016-09-29 Sold (MLS) $325,000 Smart MLS
• 2016-08-02 Listing Removed — Smart MLS
• 2016-06-01 Listed $325,000 Smart MLS
• 2016-05-27 Listing Removed — Smart MLS
• 2015-09-12 Listed $325,000 Smart MLS
• 2014-01-23 Sold (Public Records) $243,500 Public Records
• 2014-01-22 Sold (MLS) $243,500 Smart MLS
• 2013-06-06 Listed $269,000 Smart MLS
• 1996-07-01 Sold (Public Records) $166,000 Public Records

Property tax history

+4.5%/yr

Latest (2023): $3,788 · +3.1% YoY. Source: county tax records.