91 Amenia Rd

Sharon, CT 06069

$299,000A-

2 bd · 1.0 ba · 1,008 sqft · Built 1875 · SingleFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,664/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$255
• HOA: −$0
• Vac / Maint / Mgmt: −$979
• Net cashflow: $1,862/mo
• Annual: $22,339/yr
• Cap rate: 13.76%
• Cash-on-cash: 26.68%
• DSCR: 2.19
• 1% rule: 1.56%
• Cash to close: $83,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $299k.
• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $299k).
• It's been on market 15 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $295k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-2.2%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#141 in CT) — a working-class tenant base; expect higher turnover. Strengths: employment A+, crime A, cost of living B+; Watch: amenities F, commute D-, housing F.
• Sharon School District (rural): math 50% / reading 60% proficiency, ranked #110 of 192 in CT (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 36 active listings in the ZIP; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• 3 sale attempts since 29y ago; this cycle's ask has dropped $70k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $202k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-2.2% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1875 — 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 B-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?
• 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.