94 Wilton Crst #94

South Wilton, CT 06897

$295,000C-

1 bd · 1.0 ba · 685 sqft · Built 1974 · Condo · Under Contract · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,448/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$547
• HOA: −$408
• Vac / Maint / Mgmt: −$724
• Net cashflow: $222/mo
• Annual: $2,658/yr
• Cap rate: 7.42%
• Cash-on-cash: 4.03%
• DSCR: 1.18
• 1% rule: 1.17%
• Cash to close: $82,600

Investor read

• This is a 1-bed/1.0-bath condo listed at $295k.
• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• It's been on market 53 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $286k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Wilton School District (suburban): math 65% / reading 76% proficiency, ranked #7 of 153 in CT (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Zoned schools: Wilton High School (math 70% / reading 92%, grade A, #5 of 194 statewide, top 2%, 1,231 students, 8% FRL).
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 107 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• 4 sale attempts since 29y 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 $190k; list at $295k implies a 55% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent is only 17% of the median local income ($242k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.