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$1,235,000

For Sale - Active
5 Quarry Path, Stonington, CT 06378
3 Beds
3 Baths
1,492 Square Feet
0.00 Acres Lot
Built in 1943
For Sale - Active
Units n/a
Checked: 23 hours ago
Updated: Sep 07, 2025 at 10:08AM

Investment Summary


Monthly Cash Flow
-$4,522
Cap Rate
1.3%
Cash-on-Cash Return
-19.1%
Debt Coverage Ratio
0.23
Internal Rate of Return (5 years)
-14.5%

Property Description


0.00 Acres Lot
Built in 1943
For Sale - Active
Units n/a

WATERFRONT ON THE MYSTIC RIVER - Not a "Drive BY" This lovely home must be seen on the inside and from the backyard and deck in order to get the full picture! A YEAR ROUND RETREAT WITH SUMMER WRITTEN ALL OVER IT ! Welcome to "On The Mystic" - A thoughtfully remodeled and fully furnished waterfront home nestled on the serene shores of the Mystic River. Located on beautiful Mason's Island, this property offers a rare blend of spectacular water views, tranquility and privacy yet it is only minutes from historic downtown Mystic. While summer may steal the spotlight, On The Mystic offers a unique charm for each season. Paddle or cruise from your 1/3 shared dock to nearby Mystic or embark upon adventures to the Long Island Sound and the endless boating destinations beyond. Inside this fully furnished and accessorized home you will enjoy a bright and open floor plan with seamless flow between the kitchen, dining area and living room. Each of the three bedrooms offers privacy as well as its own en-suite full bath. A separate family room adds flexibility for a home office, movie room, quiet retreat or great play area. Step outside to the generous riverside deck, with comfortable lounge seating and a large dining area,- Ideal for summer bbqs on the water, or cozy up in the adirondack chairs by the firepit while watching the last rays of sun settle over the river. Whether you are looking for a peaceful full-time residence or a weekend/summer escape, this home truly has it all!

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Location


Property Details


Parking

  • Description: Off Street Parking
  • Details: Gravel, Paved, Private, None, Driveway, Unpaved
  • Garage Spaces: 0
  • Spaces Total: 6

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 8
  • Attic: Yes
  • Basement: Yes
  • Basement Description: Partial
  • 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: STONM:181B:2L:2
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Contemporary, Split Level
  • Year Built: 1943

Tax Information

  • Annual Tax: $10,634

Utilities

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

Location

  • County: New London

Listing Details


Listed by:
Michelle Hallamore
Berkshire Hathaway NE Prop.
(401) 741-3075

Source:
SmartMLS
MLS#: 24094890
SmartMLS

Investment Summary


Monthly Cash Flow
-$4,522
Cap Rate
1.3%
Cash-on-Cash Return
-19.1%
Debt Coverage Ratio
0.23
Internal Rate of Return (5 years)
-14.5%

Purchase Details

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Purchase price:
$1,235,000
Amount financed:
-$988,000
Down payment:
$247,000
Closing costs:
$37,050
Rehab costs:
$0
Initial cash invested:
$284,050
Square feet:
1,492
Cost per square foot:
$828
Monthly rent per square foot:
$2.14

Financing Details

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Loan amount:
$988,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$5,844
Property tax:
$886
Insurance:
$224
Private mortgage insurance (PMI):
$0
Monthly payment:
$6,954

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,200 $38,400
Vacancy loss: (6%)
6% -$192 -$2,304
Operating income:
$3,008 $36,096

Operating Expenses


% Rent Monthly Yearly
Property taxes: (28%)
28%-$886-$10,634
Insurance: (7%)
7%-$224-$2,688
Property management: (8%)
8%-$256-$3,072
Repairs & maintenance: (5%)
5%-$160-$1,920
Capital expenditures: (5%)
5%-$160-$1,920
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (53%)
53%-$1,686-$20,234

Cash Flow


Monthly Yearly
Net operating income:
$1,322 $15,864
Mortgage payments:
-$5,844 -$70,128
Cash flow:
$4,522 $54,264