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$2,850,000

For Sale - Active
372 Maple Ave, Old Saybrook, CT 06475
3 Beds
3 Baths
3,389 Square Feet
0.00 Acres Lot
Built in 1994
For Sale - Active
Units n/a
Checked: 11 hours ago
Updated: Aug 27, 2025 at 10:05AM

Investment Summary


Monthly Cash Flow
-$10,092
Cap Rate
1.4%
Cash-on-Cash Return
-18.5%
Debt Coverage Ratio
0.25
Internal Rate of Return (5 years)
-13.9%

Property Description


0.00 Acres Lot
Built in 1994
For Sale - Active
Units n/a

Welcome to your dream home! This stunning colonial with beautiful views of Long Island Sound comes fully furnished with stylish, high-quality pieces, making it the perfect turnkey beach property. The well-equipped kitchen has granite countertops, stainless steel appliances including double Viking Ovens, SubZero fridge, large Island with breakfast bar and access to the patio. The dining room has a built-in service station with granite countertop and is open to the living room. The living room is full of charm with a fireplace and built-in bookshelves. The bright sunroom has wainscoting and shiplap ceiling. The office also has built-in bookshelves and granite countertops. The primary bedroom has an en-suite w/soaking tub, walk-in closet, and access to the balcony. The second and third bedrooms are spacish with shiplap and walk-in closets. The fourth room is equally as beautiful with wainscoting. The finished basement boasts a sauna, cedar closet, an additional family room, and a 5 seat theater with surround sound, projector and wetbar. The outdoor area is an entertainer's dream with an expansive patio, large dining table, hot tub and multiple seating areas to enjoy the water view. This home is part of Knollwood Beach Association which includes access to a private beach and park with tennis/pickleball courts, basketball court, playground. These amenities are a short walk or can be quickly accessed with the included 6-passenger electric golf cart.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Gravel, Paved, Off Street, Garage Door Opener, Private, Driveway, Attached
  • Garage Spaces: 2
  • Spaces Total: 3

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 8
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full, Finished
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Rock, Stone
  • Foundation: Concrete Perimeter
  • Roof Type: Gable
  • Roof Material: Metal

HOA

  • Has HOA: Yes
  • HOA Fee: $3,000/annually

Land Information

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

Lot Information

  • Parcel ID: OSAYM:003B:367L:
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Colonial, Contemporary
  • Year Built: 1994

Tax Information

  • Annual Tax: $23,323

Utilities

  • Water & Sewer: Public
  • Heating: Propane, Forced Air
  • Cooling: Central Air

Location

  • County: Middlesex

Listing Details


Listed by:
Colleen Nemec
Showcase Realty, Inc.
(203) 578-5990

Source:
SmartMLS
MLS#: 24051865
SmartMLS

Investment Summary


Monthly Cash Flow
-$10,092
Cap Rate
1.4%
Cash-on-Cash Return
-18.5%
Debt Coverage Ratio
0.25
Internal Rate of Return (5 years)
-13.9%

Purchase Details

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Purchase price:
$2,850,000
Amount financed:
-$2,280,000
Down payment:
$570,000
Closing costs:
$85,500
Rehab costs:
$0
Initial cash invested:
$655,500
Square feet:
3,389
Cost per square foot:
$841
Monthly rent per square foot:
$2.39

Financing Details

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Loan amount:
$2,280,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$13,487
Property tax:
$1,944
Insurance:
$567
Private mortgage insurance (PMI):
$0
Monthly payment:
$15,998

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$8,100 $97,200
Vacancy loss: (6%)
6% -$486 -$5,832
Operating income:
$7,614 $91,368

Operating Expenses


% Rent Monthly Yearly
Property taxes: (24%)
24%-$1,944-$23,323
Insurance: (7%)
7%-$567-$6,804
Property management: (8%)
8%-$648-$7,776
Repairs & maintenance: (5%)
5%-$405-$4,860
Capital expenditures: (5%)
5%-$405-$4,860
HOA fees: (3%)
3%-$250-$3,000
Total operating expenses: (52%)
52%-$4,219-$50,623

Cash Flow


Monthly Yearly
Net operating income:
$3,395 $40,740
Mortgage payments:
-$13,487 -$161,844
Cash flow:
$10,092 $121,104