10 Green Acres Ln

Danbury, CT 10509

$440,000D

3 bd · 2.0 ba · 1,626 sqft · Built 1980 · SingleFamily · Active · 196 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,574/mo
• Mortgage (P&I): −$2,307
• Tax + insurance: −$1,241
• HOA: −$0
• Vac / Maint / Mgmt: −$750
• Net cashflow: $-725/mo
• Annual: $-8,703/yr
• Cap rate: 4.31%
• Cash-on-cash: -7.06%
• DSCR: 0.69
• 1% rule: 0.81%
• Cash to close: $123,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $440k.
• At list price, monthly cash flow is $-725 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $312k (29.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $357k (18.8% below list).
• It's been on market 196 days — a 12% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $312k (29.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#51 in CT, #3,379 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools D+, amenities F, cost of living F.
• Brewster Central School District (rural): math 73% / reading 68% proficiency, ranked #107 of 590 in NY (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Watch-outs: property tax is 2.9% of price.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 142 units permitted in Putnam County in 2024 (75 in 5+ unit buildings).
• Putnam County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $85k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $333k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• This rent runs 37% of the median local income ($117k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 196 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.