1561 Route 12 · Gales Ferry, CT 06335

$405,000

4 bd · 2.5 ba · 2,003 sqft · SingleFamily public records · 10 Days on market

Built 1962 0.65 ac lot $202/sqft · 6% below area Est $430k · 6% 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 +18.2/30.0
• ARV discount +10.1/15.0
• DSCR +5.7/10.0
• 1% rule +4.6/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a home with plenty of space and in a convenient location? This sparkling colonial is it! Spacious living room with hardwood floors and large window that lets in lots of light. Newly upgraded kitchen has new appliances, granite counters and both a breakfast bar and an eating area. Enormous bonus room located off the kitchen for relaxing and entertaining. updated full bath is also on this level. Upstairs you'll find four bedrooms with hardwood floors and ceiling fans, as well as another updated full bath. Just a short drive to shops and local attractions. Compelling value - this one won't last!

Key facts

• 575 sf family room
• Remodeled kitchen
• Updated colonial

Tags

• UPDATED COLONIAL
• EXPANSIVE LIVING ROOM
• 575 SF FAMILY ROOM
• REMODELED KITCHEN
• ABUNDANT CABINET SPACE
• GORGEOUS GRANITE COUNTERS

Property features AI

Exterior

• Parking: Paved off-street parking and driveway; 6 parking spaces
• Utilities: Public water connected; Septic system; Electric power available
• Home design: Single-family home; House set back from the road; Private asphalt driveway
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Vinyl siding; Built in 2003 (public record living area year listed)
• Exterior features: Sidewalk; Gutters; Patio; Some wetlands on the lot; Lightly wooded; Borders open space; Cleared areas

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Freezer; Dishwasher
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Oil-fired heat; Oil tank located in the basement; Domestic hot water from oil
• Interior features: 8 total rooms; Full unfinished basement with interior access, concrete floor, storage and hatchway; Attic with pull-down stairs
• Laundry & utility: Washer and dryer included with the sale; Laundry located on the lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $405k.

Deal economics

• At list price, monthly cash flow is $364 ($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 $390k (3.7% below list).
• Recommended offer: $390k (3.7% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 5.1% in Gales Ferry — 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 78/100 on livability (#40 in CT, #2,751 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Ledyard School District (rural): math 34% / reading 49% proficiency, ranked #92 of 153 in CT (top 60%) — 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: Gales Ferry School (231 students, 13% FRL); Ledyard High School (math 42% / reading 67%, grade C-, #63 of 194 statewide, top 39%, 743 students, 25% FRL) — zoned schools at 19% FRL track the district average.
• Zoned-school proficiency averages 54% at this address vs 42% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Ledyard School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 31 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 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 $12k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 20y 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 $225k; list at $405k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $390,000 (3.7% below list)

Questions for the listing agent

1. Built in 1962 — 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: 0.96% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 8.7

CMA / ARV

• ARV (median comp): $430,220
• List price: $405,000
• Delta: -4.93%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Richard Rd	0.28mi	3/2.0 (-1)	2,004 (0%)	6mo	$326,000	$163	74
32 Richard Rd	0.27mi	3/1.5 (-1)	2,082 (+4%)	0mo	$425,000	$204	72
14 Patricia Ct	0.15mi	3/2.0 (-1)	1,754 (-12%)	7mo	$400,000	$228	59
1535 Route 12	0.22mi	4/2.0	1,710 (-15%)	7mo	$365,000	$213	57
37 Richard Rd	0.32mi	3/2.0 (-1)	1,848 (-8%)	11mo	$409,900	$222	56
25 Meadow Dr	0.50mi	3/2.0 (-1)	1,924 (-4%)	10mo	$415,000	$216	55
5 Ledgewood Dr	0.54mi	3/2.0 (-1)	1,820 (-9%)	6mo	$338,000	$186	47
8 Woodland Ln	0.58mi	4/2.0	1,862 (-7%)	16mo	$415,000	$223	46
14 Woodland Ln	0.61mi	4/2.0	2,283 (+14%)	4mo	$390,000	$171	43
24 Meadow Dr	0.55mi	3/2.5 (-1)	1,800 (-10%)	11mo	$489,000	$272	43
46 Eagle Ridge Dr	0.72mi	3/2.0 (-1)	1,832 (-8%)	9mo	$380,000	$207	37
50A Harvard Ter	0.66mi	3/2.5 (-1)	1,772 (-12%)	14mo	$453,000	$256	33

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: -10.3%
• Equity multiple: 0.63×
• Total profit: $-42,422
• Equity at exit: $60,387

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-7,036
• Equity at exit: $35,017

Cash invested: $113,400 (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 06335

• Home prices YoY: -22.0%
• Active inventory: 31
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $3,900 medium
• Mortgage (P&I): −$2,124
• Tax from tax record: −$424 /mo · $5,090/yr
• Insurance: −$169
• HOA: −$0
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $364

Break-even live

Break-even rent $3,439

Max offer price $405,000

Occupancy floor 86%

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: $101,250
• Closing costs: $12,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Terry Rd Gales Ferry, CT	4.0	3.0	1818	$3,900	$2.15	13d	1	1.04mi

Listing history 32 events

1. 2026-06-19
   days on market $405,000 Active 10 DOM
2. 2026-06-18
   days on market $405,000 Active 9 DOM
3. 2026-06-17
   days on market $405,000 Active 8 DOM
4. 2026-06-16
   days on market $405,000 Active 7 DOM
5. 2026-06-15
   days on market $405,000 Active 6 DOM
6. 2026-06-14
   days on market $405,000 Active 4 DOM
7. 2026-06-13
   days on market $405,000 Active 3 DOM
8. 2026-06-10
   pricestatusdays on marketlisting id $405,000 Active 1 DOM
9. 2026-06-08
   days on market $409,000 Under Contract - Continue to Show 45 DOM
10. 2026-06-07
    days on market $409,000 Under Contract - Continue to Show 44 DOM
11. 2026-06-05
    days on market $409,000 Under Contract - Continue to Show 41 DOM
12. 2026-06-03
    days on market $409,000 Under Contract - Continue to Show 40 DOM
13. 2026-06-02
    days on market $409,000 Under Contract - Continue to Show 39 DOM
14. 2026-06-01
    days on market $409,000 Under Contract - Continue to Show 38 DOM
15. 2026-05-31
    days on market $409,000 Under Contract - Continue to Show 37 DOM
16. 2026-05-30
    days on market $409,000 Under Contract - Continue to Show 36 DOM
17. 2026-05-06
    historical Under Contract - Continue to Show 1508-char remark
18. 2026-05-05
    status Active 1508-char remark
19. 2026-05-02
    historical Under Contract - Continue to Show 1508-char remark
20. 2026-04-25
    listed $409,000 Active 1508-char remark
21. 2026-04-23
    historical $409,000 1508-char remark
22. 2020-07-20
    soldstatus $225,000
23. 2020-07-17
    soldstatus $225,000 Closed 611-char remark

    Show marketing remark (611 chars)

    Looking for a home with plenty of space and in a convenient location? This sparkling colonial is it! Spacious living room with hardwood floors and large window that lets in lots of light. Newly upgraded kitchen has new appliances, granite counters and both a breakfast bar and an eating area. Enormous bonus room located off the kitchen for relaxing and entertaining. updated full bath is also on this level. Upstairs you'll find four bedrooms with hardwood floors and ceiling fans, as well as another updated full bath. Just a short drive to shops and local attractions. Compelling value - this one won't last!

24. 2020-06-18
    status Active 611-char remark

    Show marketing remark (611 chars)

    Looking for a home with plenty of space and in a convenient location? This sparkling colonial is it! Spacious living room with hardwood floors and large window that lets in lots of light. Newly upgraded kitchen has new appliances, granite counters and both a breakfast bar and an eating area. Enormous bonus room located off the kitchen for relaxing and entertaining. updated full bath is also on this level. Upstairs you'll find four bedrooms with hardwood floors and ceiling fans, as well as another updated full bath. Just a short drive to shops and local attractions. Compelling value - this one won't last!

25. 2020-06-09
    historical Under Contract - Continue to Show 611-char remark

    Show marketing remark (611 chars)

    Looking for a home with plenty of space and in a convenient location? This sparkling colonial is it! Spacious living room with hardwood floors and large window that lets in lots of light. Newly upgraded kitchen has new appliances, granite counters and both a breakfast bar and an eating area. Enormous bonus room located off the kitchen for relaxing and entertaining. updated full bath is also on this level. Upstairs you'll find four bedrooms with hardwood floors and ceiling fans, as well as another updated full bath. Just a short drive to shops and local attractions. Compelling value - this one won't last!

26. 2020-06-05
    listed $214,900 Active 611-char remark

    Show marketing remark (611 chars)

    Looking for a home with plenty of space and in a convenient location? This sparkling colonial is it! Spacious living room with hardwood floors and large window that lets in lots of light. Newly upgraded kitchen has new appliances, granite counters and both a breakfast bar and an eating area. Enormous bonus room located off the kitchen for relaxing and entertaining. updated full bath is also on this level. Upstairs you'll find four bedrooms with hardwood floors and ceiling fans, as well as another updated full bath. Just a short drive to shops and local attractions. Compelling value - this one won't last!

27. 2008-09-09
    historical
28. 2008-06-09
    listed $229,900
29. 2007-11-09
    historical
30. 2007-08-02
    listed $237,950
31. 2007-03-18
    historical
32. 2006-09-18
    listed $226,000

ⓘ 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: $5,090 · $424/mo
• Projected year-2 tax: $6,878 · $573/mo
• Expected delta: +$1,788/yr (+$149/mo · 35.1%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,800
• − Mortgage interest: −$22,686
• − Property taxes: −$5,090
• − Insurance: −$2,025
• − Repairs & maintenance: −$3,744
• − Management: −$3,744
• − Depreciation: −$11,782
• Taxable loss: −$2,271
• Est. tax savings @ 24.0%: +$545
• After-tax cash flow: $4,916/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: Ledyard School District
• NCES district ID: 0902160
• Math proficiency: 34% ▼ -12.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $84,854
• Composite: 39.02/100
• National rank: #4064
• State rank: #92 of 153 in CT

Livability — Gales Ferry

• Score: 78/100
• State rank: #40
• US rank: #2751

Category grades

Amenities F Commute F 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: Gales Ferry, CT
• Population (ZIP): 6,100

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 11% Hispanic / Latino 8% Black 4% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 9% Lithuanian 7% Serbian 4%
• Foreign-born: 5% · Canada, China, Jamaica
• Languages at home: 94% English-only · Spanish 3% Chinese 1% French/Haitian/Cajun 1%

Political lean MEDSL · Southeastern Connecticut

• 2024 margin: D (+13.0) · D 55.6% · R 42.6% · Other 1.8%
• All cycles: 2024: D+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.79%
• Current HPI: 240.7698
• 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

+79.2% since first listed

18 events — show timeline

• 2026-06-09 Listed $405,000 Smart MLS
• 2026-06-09 Listing Removed — Smart MLS
• 2026-05-06 Contingent — Smart MLS
• 2026-05-05 Relisted — Smart MLS
• 2026-05-02 Contingent — Smart MLS
• 2026-04-25 Listed $409,000 Smart MLS
• 2026-04-23 Coming Soon — Smart MLS
• 2020-07-20 Sold (Public Records) $225,000 Public Records
• 2020-07-17 Sold (MLS) $225,000 Smart MLS
• 2020-06-18 Relisted — Smart MLS
• 2020-06-09 Contingent — Smart MLS
• 2020-06-05 Listed $214,900 Smart MLS
• 2008-09-09 Listing Removed — Smart MLS
• 2008-06-09 Listed $229,900 Smart MLS
• 2007-11-09 Listing Removed — Smart MLS
• 2007-08-02 Listed $237,950 Smart MLS
• 2007-03-18 Listing Removed — Smart MLS
• 2006-09-18 Listed $226,000 Smart MLS

Property tax history

+1.5%/yr

Latest (2023): $5,090 · +2.2% YoY. Source: county tax records.