12 Saddle Ridge Rd · New Milford, CT 06776

$625,000

5 bd · 3.5 ba · 2,934 sqft · MultiFamily public records · 23 Days on market

Built 1974 2.07 ac lot

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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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.2/10.0
• Livability +4.3/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Colonial with potential in-law, and stunning sunset views! Set on more than 2 acres on a cul-de-sac. With potential accessory apart., the options are endless. Upper level has 2 tastefully updated full baths and 4 bedrooms featuring wood floors and large windows. The primary suite features wood floors, natural light, two closets, one walk-in, and updated bathroom. Main level flows effortlessly from the tiled entry to the dining room, formal living and kitchen area. Kitchen has beautiful views with tile floors, stainless appliances and an eat-in area with built-ins. Family room features floor to ceiling native stone fireplace, built-ins and sliding glass door to the fabulous deck. Laundry room/Office is convenient for easy use and direct access to the deck. Classy formal living room is bathed in natural light with quarter sawn oak floors, crown molding and recessed lighting. Area over the garage currently used as an apartment offers endless possibilities-guests, home office etc w/ private entrance. Enjoy fabulous sunsets w/ views from the kitchen, dining room, formal living room, & even by a cozy fire on the deck. The private deck completes the main level - a wonderful outdoor space to enjoy sunset views or summer afternoons comfortably shaded by the awning. Well constructed & maintained home, has large basement & attic providing for great storage & additional family space. Third garage off the basement provides easy access for recreational vehicles/weekend toys/hobbies etc.

Key facts

• Quiet cul-de-sac
• Eat-in kitchen
• 2.07 acre lot

Tags

• LEGAL ACCESSORY APARTMENT
• WOOD-BURNING FIREPLACE
• EAT-IN KITCHEN
• FULL UNFINISHED LOWER LEVEL
• QUIET CUL-DE-SAC
• EASY ACCESS TO DOWNTOWN

Property features AI

Exterior

• Parking: Attached garage (2-car); Driveway parking; Paved/asphalt driveway; Off-street parking (total spaces: 4)
• Utilities: Private well water; Septic system; Electric and oil service
• Home design: Single-family home; Cream-colored exterior siding
• Construction: Frame construction; Aluminum siding; Asphalt shingle roof; Concrete foundation; Built with storage attic
• Exterior features: Deck; Gutters; Garden area; Exterior lighting; Underground utilities; Professionally landscaped yard; Lightly wooded, dry site on a cul-de-sac in a subdivision

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 5 bedrooms
• Flooring: Hard/low nap floors
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Baseboard hot water heating; Heat fuel: Electric and oil; Hot water: Oil domestic; Fuel tank located in basement; Energy features: ridge vents and thermopane windows
• Interior features: Auto garage door opener; Cable pre-wired; In-law apartment; Handicap-friendly hard/low nap flooring; One fireplace; Full unfinished basement with interior access, concrete floor and storage; Attic with pull-down stairs for storage
• Laundry & utility: Washer and dryer; Laundry room off the kitchen on the main level

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath multifamily listed at $625k.

Deal economics

• At list price, monthly cash flow is $897 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $625k).
• Recommended offer: $616k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.6% in New Milford — 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 86/100 on livability (#2 in CT, #371 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: cost of living C-, amenities D-.
• New Milford School District (suburban): math 29% / reading 47% proficiency, ranked #100 of 153 in CT (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Northville Elementary School (448 students, 34% FRL); New Milford High School (math 33% / reading 62%, grade D, #91 of 194 statewide, top 47%, 1,247 students, 31% FRL) — zoned schools average 33% FRL vs 15% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 147 active listings in the ZIP; solid renter incomes; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• At $6,384/mo this rent would consume 74% of the median local household income ($104k/yr) (locally 627% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($616k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y ago; this cycle's ask has dropped $35k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $510k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $615,625 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — 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. 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.
4. 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.
5. 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: 1.02% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.15%
• DSCR: 1.27
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-44,138
• Equity at exit: $93,190

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $35,113
• Equity at exit: $54,039

Cash invested: $175,000 (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 06776

• Active inventory: 147
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $6,384 medium
• Mortgage (P&I): −$3,278
• Tax from tax record: −$608 /mo · $7,297/yr
• Insurance: −$260
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,341
• Net cashflow: $897

Break-even live

Break-even rent $5,248

Max offer price $625,000

Occupancy floor 81%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,408
1× unit	1	1	$1,975
Total (3 units)			$6,384

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $625,000 Active 23 DOM
2. 2026-06-18
   days on market $625,000 Active 22 DOM
3. 2026-06-17
   days on market $625,000 Active 21 DOM
4. 2026-06-16
   days on market $625,000 Active 20 DOM
5. 2026-06-15
   days on market $625,000 Active 19 DOM
6. 2026-06-14
   days on market $625,000 Active 17 DOM
7. 2026-06-13
   pricedays on market $625,000 Active 16 DOM
8. 2026-06-10
   days on market $659,900 Active 14 DOM
9. 2026-06-09
   days on market $659,900 Active 13 DOM
10. 2026-06-08
    days on market $659,900 Active 12 DOM
11. 2026-06-07
    days on market $659,900 Active 11 DOM
12. 2026-06-05
    days on market $659,900 Active 8 DOM
13. 2026-06-03
    days on market $659,900 Active 7 DOM
14. 2026-06-02
    days on market $659,900 Active 6 DOM
15. 2026-06-01
    days on market $659,900 Active 5 DOM
16. 2026-05-31
    days on market $659,900 Active 4 DOM
17. 2026-05-30
    days on market $659,900 Active 3 DOM
18. 2026-05-26
    listed $659,900 Active
19. 2023-02-08
    soldstatus $510,000 Closed 1513-char remark

    Show marketing remark (1513 chars)

    Colonial with potential in-law, and stunning sunset views! Set on more than 2 acres on a cul-de-sac. With potential accessory apart., the options are endless. Upper level has 2 tastefully updated full baths and 4 bedrooms featuring wood floors and large windows. The primary suite features wood floors, natural light, two closets, one walk-in, and updated bathroom. Main level flows effortlessly from the tiled entry to the dining room, formal living and kitchen area. Kitchen has beautiful views with tile floors, stainless appliances and an eat-in area with built-ins. Family room features floor to ceiling native stone fireplace, built-ins and sliding glass door to the fabulous deck. Laundry room/Office is convenient for easy use and direct access to the deck. Classy formal living room is bathed in natural light with quarter sawn oak floors, crown molding and recessed lighting. Area over the garage currently used as an apartment offers endless possibilities-guests, home office etc w/ private entrance. Enjoy fabulous sunsets w/ views from the kitchen, dining room, formal living room, & even by a cozy fire on the deck. The private deck completes the main level - a wonderful outdoor space to enjoy sunset views or summer afternoons comfortably shaded by the awning. Well constructed & maintained home, has large basement & attic providing for great storage & additional family space. Third garage off the basement provides easy access for recreational vehicles/weekend toys/hobbies etc.

20. 2023-02-06
    soldstatus $515,000
21. 2023-01-26
    status Under Contract 1513-char remark

    Show marketing remark (1513 chars)

    Colonial with potential in-law, and stunning sunset views! Set on more than 2 acres on a cul-de-sac. With potential accessory apart., the options are endless. Upper level has 2 tastefully updated full baths and 4 bedrooms featuring wood floors and large windows. The primary suite features wood floors, natural light, two closets, one walk-in, and updated bathroom. Main level flows effortlessly from the tiled entry to the dining room, formal living and kitchen area. Kitchen has beautiful views with tile floors, stainless appliances and an eat-in area with built-ins. Family room features floor to ceiling native stone fireplace, built-ins and sliding glass door to the fabulous deck. Laundry room/Office is convenient for easy use and direct access to the deck. Classy formal living room is bathed in natural light with quarter sawn oak floors, crown molding and recessed lighting. Area over the garage currently used as an apartment offers endless possibilities-guests, home office etc w/ private entrance. Enjoy fabulous sunsets w/ views from the kitchen, dining room, formal living room, & even by a cozy fire on the deck. The private deck completes the main level - a wonderful outdoor space to enjoy sunset views or summer afternoons comfortably shaded by the awning. Well constructed & maintained home, has large basement & attic providing for great storage & additional family space. Third garage off the basement provides easy access for recreational vehicles/weekend toys/hobbies etc.

22. 2022-12-12
    historical Under Contract - Continue to Show 1513-char remark

    Show marketing remark (1513 chars)

    Colonial with potential in-law, and stunning sunset views! Set on more than 2 acres on a cul-de-sac. With potential accessory apart., the options are endless. Upper level has 2 tastefully updated full baths and 4 bedrooms featuring wood floors and large windows. The primary suite features wood floors, natural light, two closets, one walk-in, and updated bathroom. Main level flows effortlessly from the tiled entry to the dining room, formal living and kitchen area. Kitchen has beautiful views with tile floors, stainless appliances and an eat-in area with built-ins. Family room features floor to ceiling native stone fireplace, built-ins and sliding glass door to the fabulous deck. Laundry room/Office is convenient for easy use and direct access to the deck. Classy formal living room is bathed in natural light with quarter sawn oak floors, crown molding and recessed lighting. Area over the garage currently used as an apartment offers endless possibilities-guests, home office etc w/ private entrance. Enjoy fabulous sunsets w/ views from the kitchen, dining room, formal living room, & even by a cozy fire on the deck. The private deck completes the main level - a wonderful outdoor space to enjoy sunset views or summer afternoons comfortably shaded by the awning. Well constructed & maintained home, has large basement & attic providing for great storage & additional family space. Third garage off the basement provides easy access for recreational vehicles/weekend toys/hobbies etc.

23. 2022-12-01
    listed $525,000 Active 1513-char remark

    Show marketing remark (1513 chars)

    Colonial with potential in-law, and stunning sunset views! Set on more than 2 acres on a cul-de-sac. With potential accessory apart., the options are endless. Upper level has 2 tastefully updated full baths and 4 bedrooms featuring wood floors and large windows. The primary suite features wood floors, natural light, two closets, one walk-in, and updated bathroom. Main level flows effortlessly from the tiled entry to the dining room, formal living and kitchen area. Kitchen has beautiful views with tile floors, stainless appliances and an eat-in area with built-ins. Family room features floor to ceiling native stone fireplace, built-ins and sliding glass door to the fabulous deck. Laundry room/Office is convenient for easy use and direct access to the deck. Classy formal living room is bathed in natural light with quarter sawn oak floors, crown molding and recessed lighting. Area over the garage currently used as an apartment offers endless possibilities-guests, home office etc w/ private entrance. Enjoy fabulous sunsets w/ views from the kitchen, dining room, formal living room, & even by a cozy fire on the deck. The private deck completes the main level - a wonderful outdoor space to enjoy sunset views or summer afternoons comfortably shaded by the awning. Well constructed & maintained home, has large basement & attic providing for great storage & additional family space. Third garage off the basement provides easy access for recreational vehicles/weekend toys/hobbies etc.

24. 2022-11-30
    historical
25. 2022-11-01
    listed $525,000 Active
26. 1998-03-27
    soldstatus $240,900
27. 1998-03-27
    soldstatus $240,900
28. 1997-12-28
    listed $249,900

ⓘ 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: $7,297 · $608/mo
• Projected year-2 tax: $10,336 · $861/mo
• Expected delta: +$3,039/yr (+$253/mo · 41.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $76,608
• − Mortgage interest: −$35,010
• − Property taxes: −$7,297
• − Insurance: −$3,125
• − Repairs & maintenance: −$6,129
• − Management: −$6,129
• − Depreciation: −$18,182
• Taxable income: $737
• Est. tax owed @ 24.0%: −$177
• After-tax cash flow: $10,591/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 Milford School District
• NCES district ID: 0902850
• Math proficiency: 29% ▼ -22.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $81,576
• Composite: 35.78/100
• National rank: #4839
• State rank: #100 of 153 in CT

Livability — New Milford

• Score: 86/100
• State rank: #2
• US rank: #371

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Litchfield County · 81,203 people
• City population: 27,010
• Metro: Torrington, CT
• Population (ZIP): 27,010
• Household income: $104,112
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 627.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 7% Black 4% Asian 4%
• Hispanic origin (detail): Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 3% Chinese 1%

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: ▼ -264.52%
• Current HPI: 305.6036
• Rent YoY: —
• Metro: Torrington, 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

+164.1% since first listed

11 events — show timeline

• 2026-05-26 Listed $659,900 Smart MLS
• 2023-02-08 Sold (MLS) $510,000 Smart MLS
• 2023-02-06 Sold (Public Records) $515,000 Public Records
• 2023-01-26 Pending — Smart MLS
• 2022-12-12 Contingent — Smart MLS
• 2022-12-01 Listed $525,000 Smart MLS
• 2022-11-30 Listing Removed — Smart MLS
• 2022-11-01 Listed $525,000 Smart MLS
• 1998-03-27 Sold (Public Records) $240,900 Public Records
• 1998-03-27 Sold (MLS) $240,900 Smart MLS
• 1997-12-28 Listed $249,900 Smart MLS

Property tax history

+1.5%/yr

Latest (2023): $7,297 · +2.2% YoY. Source: county tax records.