Score
0Guilford, CT
332 Stepstone Hill Rd
499K
4 beds
2 baths
1,845 sqft
4 bd • 2 ba • 1,845 sf
This analysis was generated on 1/28/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$499,000
Price/Sq.Ft
$270
Year Built
1950
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Move-in Ready Condition: The property is fully renovated with modern amenities, including a new kitchen with quartz countertops, stainless steel appliances, and a glass mosaic backsplash. The updated bathrooms, refinished hardwood floors, and central AC make this a turnkey home.
• Spacious Layout: The home features 4 bedrooms and 2 bathrooms, providing ample space for a family. The living room with a fieldstone fireplace and the open-concept kitchen/dining area are attractive for comfortable living.
• Desirable Location: The property is in a prime location near walking trails, the Guilford Lakes Golf Course, and Guilford Lakes Elementary School (8/10 rating). The home is also conveniently located near shopping, dining, and commuter routes.
• Strong School District: The property is located in the highly-rated Guilford school district, which is a major draw for families. The proximity to top-rated schools such as Guilford High School (9/10 rating) is a significant advantage.
• Proximity to Amenities: The home is close to various amenities, including shopping centers, restaurants, and recreational facilities. The 30-minute drive to New Haven provides access to cultural attractions and diverse dining options.
• Updated Features: Central air conditioning, an updated electrical system, and a new washer and dryer contribute to a comfortable and convenient living experience. The utilities sheds provide extra storage space.
• Price Per Square Foot: The price per square foot is $270.46, which is competitive compared to the average price range ($250-$300) in the Guilford area. The recent renovations justify this price point.
The Bad
• Moderate Flood Risk (4/10): The property is in a moderate flood risk zone. While not the highest risk, this requires flood insurance, adding to the ownership costs. This could also lead to potential damage during severe weather events.
• Major Wind Risk (6/10): The high wind risk could lead to property damage during severe weather and increased insurance premiums.
• Older Home (Built in 1950): While renovated, the age of the home means that there could be potential issues with the underlying infrastructure that may need attention, such as plumbing, electrical, and the foundation. This could lead to unexpected repair costs.
• Oil Heating: The home uses an oil-based heating system, which can be less efficient than other options and can fluctuate in cost. The age of the system is not specified, which may require future replacement.
• Commuting Challenges: While Guilford is close to New Haven, commuting to larger cities like NYC can be time-consuming, especially during peak hours. This may not be ideal for those who need to travel frequently.
• Limited Inventory and Competition: As noted in the market insights, Guilford has limited housing inventory and a competitive real estate market. This may mean a quick decision is needed and may involve bidding above the asking price.
• Potential for hidden costs: The property has had a few price changes recently, which may point to underlying issues that could be costly for the buyer.
The Ugly
• Major Heat Risk (6/10): The area has a major heat risk, with a 98th percentile temperature of 94°F and an average of 7 hot days per year. This could lead to higher cooling costs in the summer.
• Potential for High Total Ownership Cost: The combination of a $499,000 purchase price, high property taxes, and insurance costs could result in a significant monthly payment. With a 20% down payment, a 7% interest rate, and a $1,796.40 annual insurance payment, the mortgage could run ~$2,660/month. Adding ~$400/month for property taxes yields ~$3,060/month. This does not include maintenance, utilities or potential HOA fees.
• Air Quality Risk (4/10): The area has a moderate air quality risk, with 5 bad air days per year. This might be a concern for those with respiratory issues.
• Unknown condition of systems: The age and condition of the oil heating system, central AC, and electrical system are not specified, which could lead to potential replacement costs in the near future.
• Historic District Regulations: While not explicitly stated, if the property is in a historic district, there might be restrictions on renovations or modifications, which could limit future plans. This is a general consideration for Guilford properties.
• Septic System and Well Water: Although not specifically mentioned for this property, many homes in Guilford rely on septic systems and well water. If this is the case, inspections are crucial and maintenance costs may be higher.
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
• Families seeking a move-in-ready home in a highly-rated school district: The property's proximity to Guilford Lakes Elementary (8/10 rating) and other top schools makes it ideal for families with children. The 4 bedrooms provide ample space, and the backyard offers outdoor play areas.
• Buyers prioritizing updated interiors and modern amenities: The renovated kitchen and bathrooms, along with central AC and a new washer/dryer, appeal to those seeking contemporary comfort. The refinished hardwood floors and overall updated aesthetic provide a turnkey experience.
• Individuals valuing community and outdoor recreation: The home's location near walking trails, the Guilford Lakes Golf Course, and local amenities like shopping and dining caters to active individuals. The strong sense of community in Guilford is a draw for those seeking a close-knit environment.
• Commuters needing convenient access to major cities: The 30-minute commute to New Haven, with its cultural attractions and job opportunities, is attractive. Furthermore, the easy access to NYC and Rhode Island beaches provides diverse recreational options for weekend trips.
• Buyers with a household income of $130,000+ who can comfortably handle an estimated $3,500+ monthly cost without exceeding a 30% DTI. This accounts for the mortgage, taxes, insurance, and potential maintenance costs.
Not For
• Budget-constrained buyers: With a price of $499,000 and high property taxes, this home may be financially out of reach for some. The total monthly cost, including mortgage, insurance, and taxes, is estimated to be high. Buyers should have a household income of at least $130,000 to comfortably afford this property.
• Buyers seeking very large lots or extreme privacy: While the property has an expansive backyard, it doesn't offer the same level of seclusion or acreage as some other properties in Guilford. Buyers prioritizing large lots might consider other options.
• Buyers averse to older homes: Built in 1950, this home, while renovated, may require some additional maintenance and upkeep compared to newer constructions. Buyers who prefer new builds might not find this property ideal.
• Buyers who prefer not to live near flood zones. Although the flood risk is moderate (4/10), it may be concerning for risk-averse buyers. Additionally, the wind risk is also considered major (6/10), which may also be a deterrent.
• Buyers who need to commute long distances daily may find the drive to NYC or other major cities too time consuming.
Demographics
Area Median Income
$115,171
Property History
Price History
Ownership Timeline
$0Cash Purchase
Jun 26, 2024D & Marie L Findlay Irt, Sharon F JonynasGeorge Henderson
Deed
Non-Arm's Length Transactions
$0Cash Purchase
Jan 1, 1970Marie L Findlay Irt, Sharon F JonynasMarie L Findlay Irt, Sharon F Jonynas
Quit Claim Deed
Non-Arm's Length Transactions
Property Taxes
$7,107
2024 Tax Assessment
2.7%from previous year
Assessed Value$267,400
Tax Rate2.66%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
8.0/10
ExcellentMiddle
8.0/10
ExcellentHigh
9.0/10
ExcellentFinancials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$1,430
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$499,000
Price/sqft
$270
Layout
4 bd•2 ba
Days on market
2 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$429,267
16.2%
Your price is 16.2% above average
Median Price
$539,000
7.4%
Based on 6 recent sales
Price per Sq.Ft
$229
18.1%
Your price is 18.1% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 437 Durham Road, Guilford, CT 06437 | $2,700 | 1,795 | 3 | 2 | $299.4% | 12/19/2024 |
| 97 Cedar Hill Road, Guilford, CT 06437 | $439,000 | 1,768 | 3 | 2 | $2488.2% | 9/17/2024 |
| 94 Highwoods Drive, Guilford, CT 06437 | $545,000 | 1,708 | 3 | 2 | $31918.0% | 9/23/2024 |
| 97 White Birch Drive, Guilford, CT 06437 | $539,000 | 1,803 | 3 | 2 | $29910.5% | 8/7/2024 |
| 80 High Meadow Road, Guilford, CT 06437 | $550,000 | 2,146 | 4 | 2 | $2565.2% | 8/19/2024 |
| 910 Goose Lane, Guilford, CT 06437 | $499,900 | 2,000 | 4 | 3 | $2507.6% | 10/30/2024 |
437 Durham Road, Guilford, CT 06437
Price: $2,700
Sq.Ft: 1,795
Beds/Baths: 3/2
$/Sq.Ft:
$299.4%
Sale Date: 12/19/2024
97 Cedar Hill Road, Guilford, CT 06437
Price: $439,000
Sq.Ft: 1,768
Beds/Baths: 3/2
$/Sq.Ft:
$2488.2%
Sale Date: 9/17/2024
94 Highwoods Drive, Guilford, CT 06437
Price: $545,000
Sq.Ft: 1,708
Beds/Baths: 3/2
$/Sq.Ft:
$31918.0%
Sale Date: 9/23/2024
97 White Birch Drive, Guilford, CT 06437
Price: $539,000
Sq.Ft: 1,803
Beds/Baths: 3/2
$/Sq.Ft:
$29910.5%
Sale Date: 8/7/2024
80 High Meadow Road, Guilford, CT 06437
Price: $550,000
Sq.Ft: 2,146
Beds/Baths: 4/2
$/Sq.Ft:
$2565.2%
Sale Date: 8/19/2024
910 Goose Lane, Guilford, CT 06437
Price: $499,900
Sq.Ft: 2,000
Beds/Baths: 4/3
$/Sq.Ft:
$2507.6%
Sale Date: 10/30/2024
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