282 Marlborough Ter

Fairfield, CT 06825

$719,000F

3 bd · 2.5 ba · 2,027 sqft · Built 1937 · MultiFamily · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,958/mo
• Mortgage (P&I): −$3,771
• Tax + insurance: −$943
• HOA: −$0
• Vac / Maint / Mgmt: −$1,251
• Net cashflow: $-7/mo
• Annual: $-79/yr
• Cap rate: 6.28%
• Cash-on-cash: -0.04%
• DSCR: 1.00
• 1% rule: 0.83%
• Cash to close: $201,320

Investor read

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $719k.
• At list price, monthly cash flow is $-7 ($-79/yr) — negative. Per door: $-3/mo.
• To cash-flow at today's rent, offer at most $718k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $596k (17.1% below list).
• It's been on market 30 days — a 2% lower offer ($708k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $596k (17.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Fairfield School District (suburban): math 61% / reading 72% proficiency, ranked #21 of 153 in CT (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Mckinley School (math 47% / reading 54%, grade D+, #234 of 553 statewide, top 42%, 433 students, 49% FRL); Tomlinson Middle School (math 40% / reading 63%, grade C, #77 of 175 statewide, top 44%, 621 students, 30% FRL); Fairfield Warde High School (math 52% / reading 73%, grade B-, #39 of 194 statewide, top 20%, 1,418 students, 25% FRL) — zoned schools average 35% FRL vs 7% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-1.8%/yr); 95 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• Current owner paid $218k; list at $719k implies a 230% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $5,958/mo this rent would consume 53% of the median local household income ($136k/yr) (locally 336% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1937 — 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.
• 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.
• 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.