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$2,500,000

For Sale - Active
11 Driftwood Rd, Danbury, CT 06811
3 Beds
3 Baths
2,367 Square Feet
0.00 Acres Lot
Built in 2003
For Sale - Active
Units n/a
Checked: 21 hours ago
Updated: Apr 23, 2025 at 08:00PM

Investment Summary


Monthly Cash Flow
-$9,564
Cap Rate
1.7%
Cash-on-Cash Return
-20.0%
Debt Coverage Ratio
0.27
Internal Rate of Return (5 years)
-15.3%

Property Description


0.00 Acres Lot
Built in 2003
For Sale - Active
Units n/a

Welcome to this exquisite custom-built waterfront residence on Candlewood Lake offering prime Western exposure & expansive breathtaking views. Set majestically on 1 private acre with 250' of lake frontage, the home boasts custom detail with approx. $400K in improvements. The open floor plan includes lake views from every room and wide plank pegged flooring. The beautifully updated gourmet kitchen features new granite counters, Wolf/Sub Zero stainless steel appliances, new cabinets, large center island, & adjoining dining area. The kitchen opens to the living room with vaulted ceiling, floor-to-ceiling stone fireplace, & French doors to the new IPE deck overlooking the magnificent setting. The residence boasts 3 bedrooms, with 1 bedroom on the main level with an ensuite full bath. Retreat upstairs to the primary bedroom with walk-in closet, French doors to the new private balcony, & a spa-like full bath with dual sink stations, huge glass-enclosed shower, & soaking tub. Enjoy outdoor living at its finest with expansive decks, stone terraces & beautiful gardens. It is truly an entertainers dream with new outdoor kitchen, new gazebo with hot tub, & many areas to relax and take in this gorgeous setting. Step down to the new boat dock with enough space for 3 boats & 2 jet skis. A highlight of this property is the 3-car detached garage with 600 square feet of living space above with heat & electricity. Don't miss your chance to own a piece of paradise on Candlewood Lake!

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Location


Property Details


Parking

  • Description: Garage
  • Garage Spaces: 3
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 2
  • Basement Description: Crawl Space
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood Siding
  • Foundation: Concrete Perimeter
  • Roof Type: Gable
  • Roof Material: Asphalt

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: DANBM:J03L:16
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Cape Cod, Contemporary
  • Year Built: 2003

Tax Information

  • Annual Tax: $15,626

Utilities

  • Water & Sewer: Well
  • Heating: Oil, Propane, Forced Air, Hot Water
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Fairfield

Listing Details


Listed by:
Robert Neumann
Houlihan Lawrence
(203) 313-2600

Source:
SmartMLS
MLS#: 24082747
SmartMLS

Investment Summary


Monthly Cash Flow
-$9,564
Cap Rate
1.7%
Cash-on-Cash Return
-20.0%
Debt Coverage Ratio
0.27
Internal Rate of Return (5 years)
-15.3%

Purchase Details

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Purchase price:
$2,500,000
Amount financed:
-$2,000,000
Down payment:
$500,000
Closing costs:
$75,000
Rehab costs:
$0
Initial cash invested:
$575,000
Square feet:
2,367
Cost per square foot:
$1,056
Monthly rent per square foot:
$2.96

Financing Details

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Loan amount:
$2,000,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$13,092
Property tax:
$1,302
Insurance:
$490
Private mortgage insurance (PMI):
$0
Monthly payment:
$14,884

Operating Income

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% Rent Monthly Yearly
Gross rent:
$7,000 $84,000
Vacancy loss: (6%)
6% -$420 -$5,040
Operating income:
$6,580 $78,960

Operating Expenses


% Rent Monthly Yearly
Property taxes: (19%)
19%-$1,302-$15,626
Insurance: (7%)
7%-$490-$5,880
Property management: (8%)
8%-$560-$6,720
Repairs & maintenance: (5%)
5%-$350-$4,200
Capital expenditures: (5%)
5%-$350-$4,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (44%)
44%-$3,052-$36,626

Cash Flow


Monthly Yearly
Net operating income:
$3,528 $42,336
Mortgage payments:
-$13,092 -$157,104
Cash flow:
$9,564 $114,768