Score
0Orange, CT
189 Derby Ave
625K
3 beds
3 baths
1,904 sqft
3 bd • 3 ba • 1,904 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$624,900
Price/Sq.Ft
$328
Year Built
1920
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This 1920-built home at 189 Derby Ave, Orange, CT has been beautifully renovated, combining historic charm with modern amenities. At $328.20/sqft, it's priced 20% below the area average of $410/sqft for similar properties. The recent renovation includes brand-new windows, an open-concept design, and a move-in ready status, potentially saving buyers $20,000-$30,000 in immediate upgrades. The property's flood risk score of 1/10 is exceptionally low, potentially reducing insurance costs by 15-20% compared to properties with higher risk. Its location near top-rated schools (Amity Middle School: 8/10, Amity Regional High School: 8/10) adds significant value, typically commanding a 5-10% premium in the market. The home's square footage (1,904 sqft) is about 10% larger than the average for 3-bedroom homes in the area, offering more space for the price.
The Bad
The property's price increased by 92.3% since its last sale in August 2024, which is significantly above the average market appreciation rate of 5-7% annually in Orange, CT. This rapid price increase may impact future appreciation potential. The home's age (built in 1920) suggests potential hidden maintenance issues despite the renovation. The property has limited yard space based on the images, which may not appeal to buyers seeking larger outdoor areas. The air quality risk score of 5/10 and heat risk score of 6/10 are higher than ideal, potentially impacting long-term livability and energy costs.
The Ugly
The total monthly ownership costs are high, estimated at $4,500+ ($3,125 mortgage at 3% down + $520 property tax + $187 insurance + $668 estimated maintenance/utilities). This is significantly above the area's median rental rate of $2,740 for a 3-bedroom home, potentially making it cash flow negative for investors. The property's age may require substantial updates to major systems within 5-10 years, including potential costs for electrical ($8,000-$12,000), plumbing ($5,000-$15,000), and roof replacement ($10,000-$20,000). The wind risk score of 6/10 is concerning, potentially leading to 20-30% higher insurance premiums and increased maintenance costs over time.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is ideal for buyers with a household income of $160,000+ (based on a 28% front-end DTI ratio). It suits young families or professionals who value proximity to highly-rated schools and appreciate historic homes with modern updates. The open-concept design and updated kitchen make it perfect for those who enjoy entertaining. First-time homebuyers with substantial savings for a down payment and an appreciation for character homes would find this property attractive. The low flood risk and recent renovations make it suitable for those seeking a balance of charm and reduced immediate maintenance concerns.
Not For
This property is not suitable for investors seeking immediate positive cash flow, as the high purchase price relative to rental rates makes this challenging. It's not ideal for buyers on a tight budget due to the high monthly ownership costs and potential for significant future maintenance expenses. Those seeking a large yard or extensive outdoor space may find the property lacking. Buyers with sensitivity to air quality issues or extreme heat should consider the higher-than-average risk scores for these factors. The property may not suit those looking for a home with minimal long-term maintenance needs, given its age and potential for major system replacements in the coming years.
Demographics
Area Median Income
$128,171
Property History
Price History
Ownership Timeline
$325,000Financed
Aug 12, 2024Patricia Gill Ret, Patricia GillGlenstone Dev P2 Llc
Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Jan 1, 1970Patricia GillPatricia Gill Ret, Patricia A Gill
Quit Claim Deed
Non-Arm's Length Transactions
Property Taxes
$6,795
2024 Tax Assessment
33.9%from previous year
Assessed Value$219,200
Tax Rate3.10%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
8.0/10
ExcellentHigh
8.0/10
ExcellentFinancials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$1,640
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$624,900
Price/sqft
$328
Layout
3 bd•3 ba
Stats in the Area
Based on 2 comparable properties nearby
Average Price
$522,000
19.7%
Your price is 19.7% above average
Median Price
$549,000
13.8%
Based on 2 recent sales
Price per Sq.Ft
$256
28.2%
Your price is 28.2% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 594 Saddle Ridge Road, Orange, CT 06477 | $549,000 | 2,087 | 4 | 3 | $26319.8% | 11/8/2024 |
| 8 Pryde Drive, Orange, CT 06477 | $495,000 | 1,994 | 3 | 3 | $24824.4% | 10/2/2024 |
594 Saddle Ridge Road, Orange, CT 06477
Price: $549,000
Sq.Ft: 2,087
Beds/Baths: 4/3
$/Sq.Ft:
$26319.8%
Sale Date: 11/8/2024
8 Pryde Drive, Orange, CT 06477
Price: $495,000
Sq.Ft: 1,994
Beds/Baths: 3/3
$/Sq.Ft:
$24824.4%
Sale Date: 10/2/2024
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