12 Terrace Pl #13 · New Milford, CT 06776

$155,000

1 bd · 1.0 ba · 620 sqft · Condo public records · 71 Days on market

Built 1968 $250/sqft · 7% below area Est $166k · 7% under $270/mo HOA · 15% 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).

• Cash flow +18.4/30.0
• ARV discount +10.5/15.0
• 1% rule +6.6/10.0
• DSCR +5.8/10.0
• 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

Listing remarks MLS

One level living...two minute walk to Village Center. Low taxes and common charges. Great opportunity for comfortable and affordable home ownership...come see!

Key facts

• One level living
• $270 HOA
• Built 1968

Tags

• ONE LEVEL LIVING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $146k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• Market conditions: 147 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $57k; list at $155k implies a 172% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.16% ✓
• Cap rate: 7.41%
• Cash-on-cash: 3.98%
• DSCR: 1.18
• GRM: 7.2

CMA / ARV

• ARV (median comp): $166,053
• List price: $155,000
• Delta: -6.66%
• 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: -10.0%
• Equity multiple: 0.64×
• Total profit: $-15,786
• Equity at exit: $23,111

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-1,298
• Equity at exit: $13,402

Cash invested: $43,400 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,805 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$134 /mo · $1,611/yr
• Insurance: −$65
• HOA: −$270
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $144

Break-even live

Break-even rent $1,622

Max offer price $155,000

Occupancy floor 87%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Hillside Ave Unit B New Milford, CT	1.0	1.0	624	$1,850	$2.96	43d	1	0.46mi
63 Glen Ridge Ct #63 New Milford, CT	1.0	1.0	682	$2,050	$3.01	43d	1	0.59mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-19
   days on market $155,000 Active 71 DOM
2. 2026-06-18
   days on market $155,000 Active 70 DOM
3. 2026-06-17
   days on market $155,000 Active 69 DOM
4. 2026-06-16
   days on market $155,000 Active 68 DOM
5. 2026-06-15
   days on market $155,000 Active 67 DOM
6. 2026-06-14
   days on market $155,000 Active 65 DOM
7. 2026-06-13
   days on market $155,000 Active 64 DOM
8. 2026-06-10
   days on market $155,000 Active 62 DOM
9. 2026-06-09
   days on market $155,000 Active 61 DOM
10. 2026-06-08
    days on market $155,000 Active 60 DOM
11. 2026-06-07
    days on market $155,000 Active 59 DOM
12. 2026-06-05
    days on market $155,000 Active 56 DOM
13. 2026-06-03
    days on market $155,000 Active 55 DOM
14. 2026-06-02
    days on market $155,000 Active 54 DOM
15. 2026-06-01
    days on market $155,000 Active 53 DOM
16. 2026-05-31
    days on market $155,000 Active 52 DOM
17. 2026-05-30
    days on market $155,000 Active 51 DOM
18. 2026-04-09
    listed $165,000 Active 159-char remark

    Show marketing remark (159 chars)

    One level living...two minute walk to Village Center. Low taxes and common charges. Great opportunity for comfortable and affordable home ownership...come see!

19. 2002-11-25
    soldstatus $57,000 26-char remark

    Show marketing remark (26 chars)

    One Bedroom, Walk To Town.

20. 2002-09-11
    listed $59,900 26-char remark

    Show marketing remark (26 chars)

    One Bedroom, Walk To Town.

ⓘ 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: $1,611 · $134/mo
• Projected year-2 tax: $2,464 · $205/mo
• Expected delta: +$853/yr (+$71/mo · 52.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 16 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: $21,656
• − Mortgage interest: −$8,682
• − Property taxes: −$1,611
• − Insurance: −$775
• − Repairs & maintenance: −$1,733
• − Management: −$1,733
• − HOA: −$3,240
• − Depreciation: −$4,509
• Taxable loss: −$626
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $1,879/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

• Census place: New Milford, CT
• 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

+175.5% since first listed

3 events — show timeline

• 2026-04-09 Listed $165,000 Smart MLS
• 2002-11-25 Sold (MLS) $57,000 Smart MLS
• 2002-09-11 Listed $59,900 Smart MLS

Property tax history

+0.6%/yr

Latest (2023): $1,611 · +2.2% YoY. Source: county tax records.