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$175,000

For Sale - Active
45 West St Unit 3A, New Milford, CT 06776
1 Bed
1 Bath
1,867 Square Feet
0.00 Acres Lot
Built in 1985
For Sale - Active
Units n/a
Checked: 10 hours ago
Updated: Jun 11, 2025 at 03:20AM

Investment Summary


Monthly Cash Flow
-$503
Cap Rate
2.2%
Cash-on-Cash Return
-15.0%
Debt Coverage Ratio
0.39
Internal Rate of Return (5 years)
-10.5%

Property Description


0.00 Acres Lot
Built in 1985
For Sale - Active
Units n/a

Loft Living in the Litchfield Hills! Converted commercial space located just outside New Milford's town center. Walking distance to the town green and all its restaurants and attractions, shops, etc. This is a one bedroom condo (or could be made into more) features an open living and dining space, a kitchen and a separate bedroom that opens to a back deck - a diamond in the rough. An additional room is setup current as another bedroom, but could work as a home office as well. A loft space for storage as well. In total there are three rooms that have doors that could be a bedroom and a very expansive center space that is open to the full bathroom and kitchen. Its multi level with a raised walk around perimeter making it almost like a sunken living room. A great space for someone looking for studio or a possible live/work space. Definitely a unique space with a little imagination and effort that could be a true one of a kind living space!

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Location


Property Details


Parking

  • Details: None
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 4
  • # of Stories: 1
  • Basement Description: None

Exterior Features

  • Exterior Walls Materials: Wood Siding
  • Roof Type: Flat

HOA

  • Has HOA: Yes
  • HOA Fee: $722/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: NMILM:284L:161U:104
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Other
  • Year Built: 1985

Tax Information

  • Annual Tax: $4,822

Utilities

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

Location

  • County: Litchfield

Listing Details


Listed by:
Robert Graham
Godson & Graham Real Estate
(860) 733-3918

Source:
SmartMLS
MLS#: 24077197
SmartMLS

Investment Summary


Monthly Cash Flow
-$503
Cap Rate
2.2%
Cash-on-Cash Return
-15.0%
Debt Coverage Ratio
0.39
Internal Rate of Return (5 years)
-10.5%

Purchase Details

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Purchase price:
$175,000
Amount financed:
-$140,000
Down payment:
$35,000
Closing costs:
$5,250
Rehab costs:
$0
Initial cash invested:
$40,250
Square feet:
1,867
Cost per square foot:
$94
Monthly rent per square foot:
$1.12

Financing Details

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Loan amount:
$140,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$828
Property tax:
$402
Insurance:
$147
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,377

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,100 $25,200
Vacancy loss: (6%)
6% -$126 -$1,512
Operating income:
$1,974 $23,688

Operating Expenses


% Rent Monthly Yearly
Property taxes: (19%)
19%-$402-$4,822
Insurance: (7%)
7%-$147-$1,764
Property management: (8%)
8%-$168-$2,016
Repairs & maintenance: (5%)
5%-$105-$1,260
Capital expenditures: (5%)
5%-$105-$1,260
HOA fees: (34%)
34%-$722-$8,664
Total operating expenses: (79%)
79%-$1,649-$19,786

Cash Flow


Monthly Yearly
Net operating income:
$325 $3,900
Mortgage payments:
-$828 -$9,936
Cash flow:
$503 $6,036