44 Willowmere Ave · Riverside, CT 06878

$3,200,000

4 bd · 4.0 ba · 4,358 sqft · SingleFamily public records · 23 Days on market

Built 1963 0.49 ac lot $734/sqft · 28% below area Est $4439k · 28% under $83/mo HOA

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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 +15.0/15.0
• Cash flow +9.0/30.0
• Appreciation +8.6/10.0
• Schools +6.6/10.0
• Livability +3.8/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0

Listing remarks MLS

A rare offering within the coveted Willowmere Association, 44 Willowmere Avenue presents a unique opportunity in a special waterfront enclave. This four-bedroom residence captures beautiful water views and is set amid mature, curated landscaping, creating a private, garden-like setting. A true mid-century modern home, it was designed as the personal residence of Joyce (architect) and William (landscape designer) Rutherford, a Northern California husband-and-wife team, with a thoughtful connection between architecture and nature. The existing footprint offers flexibility, complemented by a heated pool and a walkable, highly desirable location. This home reflects that vision--seamlessly integrating clean modern lines with its surrounding landscape. The existing footprint provides flexibility, while the setting elevates the potential to something truly extraordinary. Enjoy the heated pool and the ease of a walkable, highly desirable location. An exceptional opportunity for the discerning buyer to craft a one-of-a-kind residence in an idyllic coastal enclave.

Key facts

• 0.49 acre lot
• 2 garage spots
• Pool

Property features AI

Finance

• HOA & community: Homeowners association with $1,000 annual fee; association covers road maintenance

Exterior

• Parking: Attached garage for 2 cars
• Utilities: Public water connected; Public sewer connected; Natural gas hot water (domestic)
• Home design: Single-family home
• Construction: Built with frame construction; Concrete foundation; Asphalt shingle roof
• Exterior features: In-ground heated swimming pool; Wood siding

Interior

• Kitchen: Refrigerator included
• Bedrooms: Four bedrooms
• Bathrooms: Three full bathrooms; Two half bathrooms
• Heating & cooling: Zoned heating; Central air; Wall unit cooling
• Interior features: Total of 10 rooms; Main-level laundry; Three fireplaces; Central air plus wall unit cooling
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $3.20M.

Deal economics

• At list price, monthly cash flow is $-3k ($-31k/yr) — negative.
• To cash-flow at today's rent, offer at most $2.75M (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.21M (31.0% below list).
• Recommended offer: $2.21M (31.0% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.6% in Riverside — 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 76/100 on livability (#60 in CT, #3,626 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, cost of living F.
• Greenwich School District (suburban): math 64% / reading 73% proficiency, ranked #12 of 153 in CT (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Riverside School (math 84% / reading 89%, grade A+, #4 of 553 statewide, top 1%, 435 students, 2% FRL); Greenwich High School (math 59% / reading 78%, grade B, #23 of 194 statewide, top 12%, 2,668 students, 20% FRL) — zoned schools at 11% FRL track the district average.
• Market conditions: 45 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).

Forward outlook

• In year one you build about $255k of equity ($22k loan paydown + $233k appreciation (7.3% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$408k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($3.15M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 75% 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 $2,207,952 (31.0% 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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 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: 0.69% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.36%
• DSCR: 0.85
• GRM: 12.1

CMA / ARV

• ARV (median comp): $4,439,396
• List price: $3,200,000
• Delta: -27.92%
• 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
44 Willowmere Ave	0.00mi	4/4.0	4,358 (0%)	0mo	$4,050,000	$929	100
7 Heusted Dr	0.45mi	4/3.5	4,348 (-0%)	0mo	$3,100,000	$713	76
60 Meadow Rd	0.18mi	4/3.0	4,188 (-4%)	7mo	$6,409,000	$1,530	75
49 Willow Rd	0.22mi	5/4.5 (+1)	4,600 (+6%)	0mo	$5,500,001	$1,196	73
294 Riverside Ave	0.37mi	5/4.5 (+1)	4,392 (+1%)	11mo	$3,850,000	$877	65
44 Indian Head Rd	0.42mi	4/5.0	4,097 (-6%)	8mo	$4,650,000	$1,135	60
29 Lockwood Dr	0.49mi	5/5.5 (+1)	4,286 (-2%)	9mo	$4,650,000	$1,085	56
2 Willow Rd	0.33mi	4/6.0	4,693 (+8%)	11mo	$5,300,000	$1,129	55
16 Summit Rd	0.57mi	5/4.5 (+1)	4,800 (+10%)	1mo	$3,200,000	$667	48
46 Park Ave	0.74mi	5/5.0 (+1)	4,087 (-6%)	7mo	$5,038,000	$1,233	40
183 Shore Rd	0.75mi	5/4.5 (+1)	4,758 (+9%)	7mo	$9,373,000	$1,970	37
4 Bramble Ln	0.72mi	5/5.0 (+1)	3,935 (-10%)	11mo	$3,550,000	$902	32

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

Projected returns pro-forma

7.28% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.7%
• Equity multiple: 2.13×
• Total profit: $1,009,097
• Equity at exit: $2,277,227

10-year hold

• IRR: 15.4%
• Equity multiple: 4.40×
• Total profit: $3,048,797
• Equity at exit: $4,380,894

Cash invested: $896,000 (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 06878

• Home prices YoY: 3.8%
• Active inventory: 45
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $22,080 high
• Mortgage (P&I): −$16,781
• Tax from tax record: −$1,757 /mo · $21,082/yr
• Insurance: −$1,333
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$83
• Vacancy / Maint / Mgmt: −$4,637
• Net cashflow: $-2,567

Break-even live

Break-even rent $25,329

Max offer price $2,746,522

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: $800,000
• Closing costs: $96,000
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Willowmere Cir Riverside, CT	4.0	4.5	5289	$27,000	$5.10	14d	1	0.11mi
96 Indian Head Rd Riverside, CT	5.0	3.5	4000	$20,000	$5.00	3d	1	0.46mi
47 Carriglea Dr Riverside, CT	5.0	4.5	6075	$30,000	$4.94	43d	1	0.52mi
15 Shorelands Pl Old Greenwich, CT	4.0	3.5	3271	$19,000	$5.81	19d	1	0.58mi
15 Shorelands Pl Old Greenwich, CT	4.0	3.5	3271	$19,000	$5.81	21d	1	0.58mi
314 Sound Beach Ave Old Greenwich, CT	4.0	2.5	3007	$15,500	$5.15	43d	1	0.68mi
71 S Park Ave Old Greenwich, CT	4.0	2.5	3723	$17,500	$4.70	43d	1	0.70mi
17 Nawthorne Rd Old Greenwich, CT	4.0	2.5	3132	$25,000	$7.98	43d	1	0.71mi
13 Lockwood Ave Old Greenwich, CT	5.0	3.5	3275	$22,000	$6.72	43d	1	0.75mi
147 Shore Rd Old Greenwich, CT	4.0	3.5	3372	$15,500	$4.60	43d	1	0.82mi
60 Lockwood Ave Old Greenwich, CT	5.0	3.5	2987	$17,500	$5.86	2d	1	1.00mi
11 Roosevelt Ave Old Greenwich, CT	5.0	2.5	3430	$21,000	$6.12	43d	1	1.00mi
11 Roosevelt Ave Old Greenwich, CT	5.0	2.5	3430	$18,000	$5.25	2d	1	1.00mi
30 Bayside Ter Riverside, CT	4.0	3.5	3730	$25,000	$6.70	43d	1	1.00mi
42 Breezemont Ave Riverside, CT	5.0	5.5	4945	$27,500	$5.56	3d	1	1.11mi
10 Durkin Pl Riverside, CT	5.0	4.5	3245	$17,500	$5.39	43d	1	1.13mi
16 Laddins Rock Rd Old Greenwich, CT	5.0	4.5	4000	$20,500	$5.12	23d	1	1.19mi
23 Cobb Island Dr Greenwich, CT	5.0	4.5	5269	$23,500	$4.46	23d	1	1.28mi
36 Center Dr Old Greenwich, CT	3.0	2.5	3328	$11,300	$3.40	43d	1	1.32mi
4 Wescott Ct Riverside, CT	4.0	4.5	3950	$15,000	$3.80	23d	1	1.37mi
1 Cary Rd Riverside, CT	4.0	3.5	3300	$13,500	$4.09	43d	1	1.44mi

HOA detail

• Monthly dues: $83 · $996/yr
• Likely covers: waterlandscapingpool

Listing history 5 events

1. 2026-04-30
   listed $3,200,000 Active 1071-char remark

   Show marketing remark (1071 chars)

   A rare offering within the coveted Willowmere Association, 44 Willowmere Avenue presents a unique opportunity in a special waterfront enclave. This four-bedroom residence captures beautiful water views and is set amid mature, curated landscaping, creating a private, garden-like setting. A true mid-century modern home, it was designed as the personal residence of Joyce (architect) and William (landscape designer) Rutherford, a Northern California husband-and-wife team, with a thoughtful connection between architecture and nature. The existing footprint offers flexibility, complemented by a heated pool and a walkable, highly desirable location. This home reflects that vision--seamlessly integrating clean modern lines with its surrounding landscape. The existing footprint provides flexibility, while the setting elevates the potential to something truly extraordinary. Enjoy the heated pool and the ease of a walkable, highly desirable location. An exceptional opportunity for the discerning buyer to craft a one-of-a-kind residence in an idyllic coastal enclave.

2. 2026-04-30
   listed $3,200,000 Active 1170-char remark

   Show marketing remark (1071 chars)

   A rare offering within the coveted Willowmere Association, 44 Willowmere Avenue presents a unique opportunity in a special waterfront enclave. This four-bedroom residence captures beautiful water views and is set amid mature, curated landscaping, creating a private, garden-like setting. A true mid-century modern home, it was designed as the personal residence of Joyce (architect) and William (landscape designer) Rutherford, a Northern California husband-and-wife team, with a thoughtful connection between architecture and nature. The existing footprint offers flexibility, complemented by a heated pool and a walkable, highly desirable location. This home reflects that vision--seamlessly integrating clean modern lines with its surrounding landscape. The existing footprint provides flexibility, while the setting elevates the potential to something truly extraordinary. Enjoy the heated pool and the ease of a walkable, highly desirable location. An exceptional opportunity for the discerning buyer to craft a one-of-a-kind residence in an idyllic coastal enclave.

3. 2026-04-28
   historical $3,200,000 1170-char remark

   Show marketing remark (1071 chars)

   A rare offering within the coveted Willowmere Association, 44 Willowmere Avenue presents a unique opportunity in a special waterfront enclave. This four-bedroom residence captures beautiful water views and is set amid mature, curated landscaping, creating a private, garden-like setting. A true mid-century modern home, it was designed as the personal residence of Joyce (architect) and William (landscape designer) Rutherford, a Northern California husband-and-wife team, with a thoughtful connection between architecture and nature. The existing footprint offers flexibility, complemented by a heated pool and a walkable, highly desirable location. This home reflects that vision--seamlessly integrating clean modern lines with its surrounding landscape. The existing footprint provides flexibility, while the setting elevates the potential to something truly extraordinary. Enjoy the heated pool and the ease of a walkable, highly desirable location. An exceptional opportunity for the discerning buyer to craft a one-of-a-kind residence in an idyllic coastal enclave.

4. 2026-04-28
   historical $3,200,000 1071-char remark

   Show marketing remark (1071 chars)

   A rare offering within the coveted Willowmere Association, 44 Willowmere Avenue presents a unique opportunity in a special waterfront enclave. This four-bedroom residence captures beautiful water views and is set amid mature, curated landscaping, creating a private, garden-like setting. A true mid-century modern home, it was designed as the personal residence of Joyce (architect) and William (landscape designer) Rutherford, a Northern California husband-and-wife team, with a thoughtful connection between architecture and nature. The existing footprint offers flexibility, complemented by a heated pool and a walkable, highly desirable location. This home reflects that vision--seamlessly integrating clean modern lines with its surrounding landscape. The existing footprint provides flexibility, while the setting elevates the potential to something truly extraordinary. Enjoy the heated pool and the ease of a walkable, highly desirable location. An exceptional opportunity for the discerning buyer to craft a one-of-a-kind residence in an idyllic coastal enclave.

5. 1990-08-24
   soldstatus $825,000

ⓘ 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: $21,082 · $1,757/mo
• Projected year-2 tax: $44,781 · $3,732/mo
• Expected delta: +$23,699/yr (+$1,975/mo · 112.4%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $264,954
• − Mortgage interest: −$179,250
• − Property taxes: −$21,082
• − Insurance: −$16,666
• − Repairs & maintenance: −$21,196
• − Management: −$21,196
• − HOA: −$996
• − Depreciation: −$93,091
• Taxable loss: −$88,524
• Est. tax savings @ 24.0%: +$21,246
• After-tax cash flow: $-9,559/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: Greenwich School District
• NCES district ID: 0901710
• Math proficiency: 64% ▼ -7.00%
• Reading proficiency: 73% ▼ -5.00%
• Median HH income: $129,257
• Composite: 65.67/100
• National rank: #461
• State rank: #12 of 153 in CT

Livability — Riverside

• Score: 76/100
• State rank: #60
• US rank: #3626

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverside, CT
• City population: 8,446
• Population (ZIP): 8,446

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 62% Hispanic / Latino 16% Asian 13% Two or more races 12% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 4% Salvadoran 5%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 3%
• Foreign-born: 31% · Canada, Dominican Republic, China
• Languages at home: 64% English-only · Spanish 16% Russian/Polish/Slavic 5% Other Indo-European 3%

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: ▲ 7.28%
• Current HPI: 198.3808
• 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

+390.9% since first listed

9 events — show timeline

• 2026-06-17 Sold (MLS) $4,050,000 Smart MLS
• 2026-06-17 Sold (MLS) $4,050,000 GMLS
• 2026-05-22 Pending — Smart MLS
• 2026-05-22 Pending — GMLS
• 2026-04-30 Listed $3,200,000 GMLS
• 2026-04-30 Listed $3,200,000 Smart MLS
• 2026-04-28 Coming Soon $3,200,000 Smart MLS
• 2026-04-28 Coming Soon $3,200,000 GMLS
• 1990-08-24 Sold (Public Records) $825,000 Public Records

Property tax history

+3.6%/yr

Latest (2023): $21,082 · +0.9% YoY. Source: county tax records.