34 Woodstock Rd

South Woodstock, CT 06259

$419,900C-

6 bd · 2.0 ba · 2,880 sqft · Built 1870 · MultiFamily · Under Contract · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,986/mo
• Mortgage (P&I): −$2,202
• Tax + insurance: −$508
• HOA: −$0
• Vac / Maint / Mgmt: −$837
• Net cashflow: $439/mo
• Annual: $5,270/yr
• Cap rate: 7.55%
• Cash-on-cash: 4.48%
• DSCR: 1.20
• 1% rule: 0.95%
• Cash to close: $117,572

Investor read

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $420k.
• At list price, monthly cash flow is $439 ($5k/yr) — positive. Per door: $220/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $399k (5.1% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $399k (5.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#122 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A-, cost of living B; Watch: health & safety D+, amenities F, commute F.
• Pomfret School District (rural): math 60% / reading 66% proficiency, ranked #33 of 153 in CT (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Pomfret Community School (math 60% / reading 66%, grade B, #131 of 553 statewide, top 24%, 370 students, 26% FRL).
• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 30 active listings in the ZIP; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).
• Current owner paid $130k; list at $420k implies a 223% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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 1870 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.