Score
0Guilford, CT
280 Durham Rd
519K
5 beds
3 baths
2,871 sqft
5 bd • 3 ba • 2,871 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
$519,000
Price/Sq.Ft
$181
Year Built
1960
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This spacious Colonial at 280 Durham Rd, Guilford, CT offers exceptional value at $180.77/sqft, which is 32% below the Guilford average of $265/sqft. The 2,871 sqft home sits on a generous 2+ acre lot, providing ample space and privacy. Key features include:
1. Three fieldstone fireplaces (two propane, one wood-burning) adding charm and efficiency.
2. Large, climate-controlled sunroom for year-round enjoyment.
3. State-of-the-art Buderus heating system, improving energy efficiency.
4. High-end AGA oven range in the kitchen, a coveted feature for cooking enthusiasts.
5. Oversized 2-car heated garage with additional "attic" storage, ideal for car enthusiasts or those needing extra space.
6. Greenhouse for gardening enthusiasts.
7. Serene setting with a brook and gazebo in the backyard, perfect for relaxation.
8. Hardwood flooring throughout, a desirable feature for many buyers.
9. Excellent school district, with Guilford High School rated 9/10, potentially boosting property value.
10. Multiple amenities including central vacuum, full appliance suite, and five bedrooms, offering flexibility for large families or home offices.
The Bad
1. The property's age (built in 1960) may require more frequent maintenance and updates.
2. At 65 days on the market, it's slightly above the average DOM for Guilford, potentially indicating overpricing or unique challenges.
3. The recent price reduction of 10.4% suggests initial overpricing, which could impact buyer perception.
4. The home's unique style may limit its appeal to some buyers who prefer more traditional designs.
5. While spacious, the layout with 5 bedrooms and only 3 bathrooms may not be ideal for all families.
6. The galley kitchen layout mentioned could be seen as outdated compared to open-concept designs popular in modern homes.
7. Wall unit air conditioning suggests the lack of a central AC system, which could be a drawback for some buyers.
8. The combination of oil and electric utilities may result in higher energy costs compared to more efficient all-electric or natural gas systems.
9. The property's location on Durham Road may experience more traffic noise compared to more secluded streets in Guilford.
The Ugly
1. EXTREME flood risk (9/10) is a major concern, potentially leading to very high insurance costs and future property damage. The FEMA Zone X_UNSHADED designation suggests it's outside the 100-year floodplain, but still at significant risk.
2. Annual flood insurance is likely to be extremely expensive, potentially $5,000-$10,000 or more, given the extreme risk rating.
3. The property has appreciated only 29.75% since its last sale in 2004 ($400,000 to $519,000), significantly underperforming compared to average home price increases in Guilford over the same period.
4. MAJOR wind risk (6/10) could lead to higher homeowners insurance premiums and potential storm damage.
5. The combination of extreme flood risk and major wind risk suggests a high vulnerability to coastal storms and hurricanes.
6. MAJOR heat risk (6/10) with 7 extremely hot days per year indicates potential discomfort and higher cooling costs, especially concerning given the lack of central AC.
7. The 10.4% price drop since initial listing suggests potential overvaluation or hidden issues discovered during the listing period.
8. Given the age of the home, major systems (plumbing, electrical, roof) may need significant updates or replacements in the near future, potentially costing $50,000 or more.
9. The estimated insurance cost of $1,868/year seems unusually low given the extreme flood and major wind risks, suggesting it may not include flood insurance. True insurance costs could be 3-5 times higher.
10. The property's unique style and potential need for updates may make it difficult to resell in the future, potentially leading to longer market times and lower appreciation.
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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 best suited for:
1. Large families or multi-generational households who can utilize the 5 bedrooms and appreciate the spacious 2,871 sqft layout.
2. Nature enthusiasts who value the 2+ acre lot, brook, and greenhouse features.
3. Buyers with a household income of $150,000+ who can comfortably afford the mortgage, high insurance costs, and potential renovation expenses.
4. Home chefs who will appreciate the high-end AGA oven and large kitchen.
5. Car enthusiasts or those needing ample storage space, given the oversized heated garage.
6. Buyers who prioritize a strong school district, with Guilford High School rated 9/10.
7. Those who work from home and can utilize extra bedrooms as office spaces.
8. Buyers willing to invest in flood mitigation strategies and who understand the associated risks.
9. Individuals who appreciate unique, character-filled homes and are willing to take on a property that may need updates.
10. Empty nesters or retirees looking for a spacious home with room for visiting family and potential for aging in place with the first-floor bedroom.
Not For
This property is not suitable for:
1. First-time homebuyers or those with limited budgets, given the high potential for additional costs related to flood insurance, maintenance, and updates.
2. Investors looking for quick appreciation or easy resale, due to the property's unique features and potential challenges.
3. Buyers with mobility issues, as the multi-level design may present accessibility challenges.
4. Those seeking a low-maintenance or turnkey property, given the age and potential need for updates.
5. Buyers who prioritize energy efficiency, as the oil/electric utilities and lack of central AC may result in higher energy costs.
6. Individuals with severe allergies or respiratory issues, given the presence of fireplaces and potential for mold due to flood risk.
7. Those who are risk-averse, considering the extreme flood risk and major wind risk.
8. Buyers looking for a more modern, open-concept layout.
9. Individuals who require a quiet, low-traffic location, as Durham Road may experience more noise.
10. Those who prioritize low insurance costs, as the flood and wind risks will likely result in high premiums.
Demographics
Area Median Income
$115,171
Property History
Price History
Ownership Timeline
$200,000Cash Purchase
Jan 1, 1970Gilbert L Wihtman Ft, Brian L WhitmanFrancene Flesch, Janice Despotakis
Deed
Foreclosure
Property Taxes
$9,160
2024 Tax Assessment
2.7%from previous year
Assessed Value$344,610
Tax Rate2.66%
Sunlight Analysis
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Sunlight Analysis
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Risk Assessment
Climate Risks
floodSEVERE
FEMA Zone: Minimal Risk Area
Insurance: Required
heatMAJOR
7 extreme heat days per year
98th percentile: 94°F
windMAJOR
Insurance: Required
airMODERATE
5 bad air quality days per year
fireMINIMAL
Insurance: Optional
Risk Analysis
1. Extreme flood risk (9/10) poses a significant threat to the property, potentially leading to severe damage and extremely high insurance costs. Annual flood insurance could exceed $10,000.
2. Major wind risk (6/10) increases the likelihood of storm damage and may result in higher homeowners insurance premiums, potentially 20-30% above average.
3. The property's age (built in 1960) suggests a high likelihood of needing major system replacements in the near future, including:
- Roof replacement: $15,000 - $25,000
- Electrical system update: $8,000 - $15,000
- Plumbing overhaul: $5,000 - $15,000
- HVAC system replacement: $10,000 - $20,000
4. Potential for hidden structural issues or outdated materials (e.g., asbestos, lead paint) common in homes of this era, which could lead to costly remediation.
5. The unique style of the home may limit its appeal in the resale market, potentially leading to longer selling times and lower appreciation.
6. Major heat risk (6/10) combined with wall unit air conditioning suggests potential for discomfort and high cooling costs during hot summers.
7. The galley kitchen layout may be seen as outdated, potentially necessitating a costly renovation ($30,000 - $50,000) to improve resale value.
8. Septic system status is unclear; if present, it may need expensive updates or replacement ($20,000 - $30,000) given the age of the home.
9. The brook on the property, while attractive, may contribute to the flood risk and could require costly erosion control measures.
10. Potential zoning or historic district regulations may limit future renovation or expansion options, impacting long-term value and usability.
Insurance
Annual Cost
$1,868
$156 per month
Cost & Affordability
Monthly Costs
Breakdown of estimated monthly expenses for this property
Monthly Payment
$0
* Estimated at 1% of home value annually. Actual costs may vary.
Not Included in Estimate
• Utilities (electricity, gas, water, internet)
• Home improvements and upgrades
• Landscaping and yard maintenance
• Pest control and home services
• Emergency repairs and replacements
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$519 monthly
$156 monthly
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Schools
Financials
Monthly Costs
Market Rent (5 bed)
Get a detailed estimate on Zillow®$2,690
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