35 Hemlock Rd

Tariffville, CT 06035

$349,000C-

2 bd · 1.5 ba · 1,170 sqft · Built 1950 · SingleFamily · Under Contract · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,080/mo
• Mortgage (P&I): −$1,830
• Tax + insurance: −$581
• HOA: −$0
• Vac / Maint / Mgmt: −$647
• Net cashflow: $22/mo
• Annual: $268/yr
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• 1% rule: 0.88%
• Cash to close: $97,720

Investor read

• This is a 2-bed/1.5-bath single-family listed at $349k.
• At list price, monthly cash flow is $22 ($268/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $308k (11.7% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $308k (11.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#78 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety B+; Watch: amenities F, commute F.
• Granby School District (suburban): math 45% / reading 64% proficiency, ranked #57 of 153 in CT (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Kelly Lane Primary School (393 students, 16% FRL); Granby Memorial Middle School (math 35% / reading 63%, grade C-, #81 of 175 statewide, top 47%, 400 students, 14% FRL); Granby Memorial High School (math 62% / reading 77%, grade B, #18 of 194 statewide, top 10%, 553 students, 15% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 41 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• 3 sale attempts since 22y 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.
• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.