37 Eastview Dr

New Fairfield, CT 06812

$200,000B-

3 bd · 2.5 ba · 1,912 sqft · Built 1979 · SingleFamily · Under Contract · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,950/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$646
• HOA: −$0
• Vac / Maint / Mgmt: −$620
• Net cashflow: $636/mo
• Annual: $7,633/yr
• Cap rate: 10.11%
• Cash-on-cash: 13.63%
• DSCR: 1.61
• 1% rule: 1.47%
• Cash to close: $56,000

Investor read

• This is a 3-bed/2.5-bath single-family listed at $200k.
• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• New Fairfield School District (suburban): math 53% / reading 66% proficiency, ranked #41 of 153 in CT (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Consolidated School (483 students, 16% FRL); New Fairfield High School (math 57% / reading 77%, grade B, #26 of 194 statewide, top 16%, 686 students, 15% FRL).
• Watch-outs: property tax is 3.4% of price.
• Market conditions: 82 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.
• 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.