28 Greenwood Ave · Bethel, CT 06801

$339,900

3 bd · 1.5 ba · 1,248 sqft · SingleFamily public records · 11 Days on market

Built 1880 0.60 ac lot Est $414k · 18% under

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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 +18.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Schools +4.7/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MULTIPLE OFFERS RECEIVED. DEADLINE FOR ALL OFFERS FRIDAY 3/13/26. To all seeking a remarkable opportunity to acquire and renovate a stately antique house on a large parcel, check out this home! This 3 bedroom colonial sits on . 6 acres and is minutes from the historic village center. Proven solidly built, this home has beautiful high ceilings and large windows letting in lots of light. Imagine proudly relaxing in the front to back living room with built ins and exposed beams. The adjacent dining room with built in corner hutch and galley kitchen are ready for a new design to match today's lifestyle. Outside the kitchen, a large covered porch overlooks a deep, private lot with plenty of room

Key facts

• Large windows
• Large parcel
• Built ins

Tags

• LARGE PARCEL
• HIGH CEILINGS
• LARGE WINDOWS
• FRONT TO BACK LIVING ROOM
• BUILT INS
• EXPOSED BEAMS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $331 ($4k/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 $340k (0.1% below list).
• Recommended offer: $340k (0.1% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.5% in Bethel — 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 (#12 in CT, #1,287 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, health & safety A+; Watch: amenities F, cost of living D-.
• Bethel School District (suburban): math 43% / reading 59% proficiency, ranked #72 of 153 in CT (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Bethel High School (math 42% / reading 72%, grade C, #52 of 194 statewide, top 31%, 1,063 students, 30% FRL) — zoned schools average 30% FRL vs 14% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 75 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 30y 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 $175k; list at $340k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $339,579

Questions for the listing agent

1. Built in 1880 — 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: 1.00% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.18%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $414,336
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Highland Ave	0.23mi	2/2.0 (-1)	1,250 (+0%)	8mo	$460,000	$368	76
14 Topstone Dr	0.21mi	3/1.0	1,232 (-1%)	18mo	$410,000	$333	71
12 Waterhorse Brook Dr	0.18mi	3/2.0	1,404 (+12%)	8mo	$430,000	$306	62
8B Kayview Ave	0.29mi	3/1.5	1,428 (+14%)	2mo	$540,000	$378	61
116 Chestnut Ridge Rd	0.55mi	3/1.5	1,200 (-4%)	10mo	$440,000	$367	60
9 Topstone Dr	0.16mi	3/1.0	1,116 (-11%)	18mo	$370,000	$332	58
32 Putnam Park Rd	0.52mi	3/1.0	1,154 (-8%)	20mo	$377,500	$327	44
2 Blue Spruce Ct	0.66mi	3/1.5	1,336 (+7%)	18mo	$400,000	$299	42
37 Putnam Park Rd	0.59mi	2/2.0 (-1)	1,296 (+4%)	21mo	$370,000	$285	41
49 Putnam Park Rd	0.63mi	2/2.0 (-1)	1,344 (+8%)	18mo	$425,000	$316	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: -9.8%
• Equity multiple: 0.64×
• Total profit: $-33,929
• Equity at exit: $50,680

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-2,164
• Equity at exit: $29,388

Cash invested: $95,172 (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 06801

• Active inventory: 75
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $3,396 high
• Mortgage (P&I): −$1,782
• Tax from tax record: −$427 /mo · $5,128/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$713
• Net cashflow: $331

Break-even live

Break-even rent $2,976

Max offer price $339,900

Occupancy floor 85%

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 Greenwood Ave Bethel, CT	3.0	2.0	1400	$4,500	$3.21	10d	1	0.03mi
2 Cindy Ln Unit 8-1 Bethel, CT	2.0	1.0	819	$2,500	$3.05	2d	1	0.29mi
9 Nashville Rd Unit 1A Bethel, CT	2.0	1.0	900	$2,300	$2.56	2d	1	0.33mi
64 Nashville Rd Unit B Bethel, CT	2.0	1.0	850	$2,650	$3.12	2d	1	0.56mi
66 Nashville Rd Unit L Bethel, CT	2.0	1.0	864	$2,500	$2.89	19d	1	0.57mi
77 Juniper Rd Bethel, CT	2.0	1.0	936	$2,340	$2.50	43d	1	0.64mi
49 Deer Run #49 Bethel, CT	2.0	1.5	1292	$2,850	$2.21	23d	1	0.84mi
54 Deer Run #54 Bethel, CT	2.0	1.5	1308	$2,700	$2.06	3d	1	0.86mi
14 South St #12 Danbury, CT	2.0	1.5	1410	$2,850	$2.02	11d	1	1.48mi
1 Knollwood Dr Bethel, CT	2.0	1.0	882	$2,400	$2.72	2d	1	1.49mi

Listing history 6 events

1. 2026-03-18
   status Under Contract
2. 2026-03-07
   listed $339,900 Active
3. 1997-02-28
   soldstatus $175,000
4. 1997-02-28
   soldstatus $173,000
5. 1996-05-23
   listed $179,000
6. 1974-06-07
   soldstatus $30,000

ⓘ 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: $5,128 · $427/mo
• Projected year-2 tax: $6,201 · $517/mo
• Expected delta: +$1,073/yr (+$89/mo · 20.9%)

ⓘ 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 4/10 Moderate 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,749
• − Mortgage interest: −$19,040
• − Property taxes: −$5,128
• − Insurance: −$1,700
• − Repairs & maintenance: −$3,260
• − Management: −$3,260
• − Depreciation: −$9,888
• Taxable loss: −$1,526
• Est. tax savings @ 24.0%: +$366
• After-tax cash flow: $4,341/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: Bethel School District
• NCES district ID: 0900270
• Math proficiency: 43% ▼ -14.00%
• Reading proficiency: 59% ▼ -8.00%
• Median HH income: $87,843
• Composite: 47.17/100
• National rank: #2323
• State rank: #72 of 153 in CT

Livability — Bethel

• Score: 82/100
• State rank: #12
• US rank: #1287

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bethel, CT
• City population: 20,498
• Population (ZIP): 20,498

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 65% Hispanic / Latino 14% Two or more races 11% Black 6% Asian 6%
• Hispanic origin (detail): Puerto Rican 4% Dominican 3%
• Common ancestry: Estonian 6% Romanian 3% Italian 2%
• Foreign-born: 21% · Canada, China, Jamaica
• Languages at home: 74% English-only · Other Indo-European 10% Spanish 10% Other Asian/Pacific 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: ▼ -348.18%
• Current HPI: 234.4823
• 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

+1033.0% since first listed

6 events — show timeline

• 2026-03-18 Pending — Smart MLS
• 2026-03-07 Listed $339,900 Smart MLS
• 1997-02-28 Sold (Public Records) $173,000 Public Records
• 1997-02-28 Sold (MLS) $175,000 Smart MLS
• 1996-05-23 Listed $179,000 Smart MLS
• 1974-06-07 Sold (Public Records) $30,000 Public Records

Property tax history

+2.4%/yr

Latest (2023): $5,128 · +7.2% YoY. Source: county tax records.