5 Kielwasser Rd

New Preston, CT 06794

$3,195,000B

3 bd · 3.5 ba · 3,134 sqft · Built 1986 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $37,630/mo
• Mortgage (P&I): −$16,755
• Tax + insurance: −$2,428
• HOA: −$0
• Vac / Maint / Mgmt: −$7,902
• Net cashflow: $10,544/mo
• Annual: $126,532/yr
• Cap rate: 10.25%
• Cash-on-cash: 14.14%
• DSCR: 1.63
• 1% rule: 1.18%
• Cash to close: $894,600

Investor read

• This is a 3-bed/3.5-bath single-family listed at $3.19M.
• At list price, monthly cash flow is $11k ($127k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($38k rent vs $3.19M).
• It's been on market 19 days — a 2% lower offer ($3.15M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $3.15M (1.5% below list) — sets the bar for market timing.
• In year one you build about $28k of equity ($22k loan paydown + $5k appreciation (0.2% local appreciation)).
• Location reads 69/100 on livability (#105 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Regional School District 12 (rural): math 64% / reading 77% proficiency, ranked #20 of 153 in CT (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: 15 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• 14 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $1.69M; list at $3.19M implies a 89% gain — meaningful room to come down on a strong offer.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $895k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$186k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 10.3% vs local median 4.0% in New Preston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.