305 Westport Tpke

Fairfield, CT 06824

$795,000D-

2 bd · 2.0 ba · 1,484 sqft · Built 1966 · SingleFamily · Active · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,141/mo
• Mortgage (P&I): −$4,169
• Tax + insurance: −$1,143
• HOA: −$0
• Vac / Maint / Mgmt: −$870
• Net cashflow: $-2,040/mo
• Annual: $-24,482/yr
• Cap rate: 3.21%
• Cash-on-cash: -11.00%
• DSCR: 0.51
• 1% rule: 0.52%
• Cash to close: $222,600

Investor read

• This is a 2-bed/2.0-bath single-family listed at $795k.
• At list price, monthly cash flow is $-2k ($-24k/yr) — negative.
• To cash-flow at today's rent, offer at most $435k (45.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $414k (47.9% below list).
• It's been on market 84 days — a 6% lower offer ($747k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $414k (47.9% 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 $24k of value loss. Plan a longer hold.
• Location reads: area grade D — 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: Burr Elementary School (math 72% / reading 77%, grade A, #44 of 553 statewide, top 10%, 352 students, 14% 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 23% FRL vs 7% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+12.4%/yr); 152 active listings in the ZIP; high-income renter base; 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• 5 sale attempts since 31y 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 $450k; list at $795k implies a 77% 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.

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 84 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.