18 Curtis Rd

New Preston, CT 06793

$1,165,000C

2 bd · 2.0 ba · 2,343 sqft · Built 1985 · Other · Under Contract · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $10,458/mo
• Mortgage (P&I): −$6,109
• Tax + insurance: −$972
• HOA: −$0
• Vac / Maint / Mgmt: −$2,196
• Net cashflow: $1,180/mo
• Annual: $14,162/yr
• Cap rate: 7.51%
• Cash-on-cash: 4.34%
• DSCR: 1.19
• 1% rule: 0.90%
• Cash to close: $326,200

Investor read

• This is a 2-bed/2.0-bath other listed at $1.17M.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.05M (10.2% below list).
• It's been on market 29 days — a 2% lower offer ($1.15M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.05M (10.2% below list) — sets the bar for 1% rule.
• In year one you build about $18k of equity ($8k loan paydown + $10k appreciation (0.9% local appreciation)).
• Location reads 69/100 on livability (#105 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Regional School District 12 (rural): math 64% / reading 77% proficiency, ranked #20 of 153 in CT (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Washington Primary School (math 64% / reading 84%, grade A, #44 of 553 statewide, top 10%, 162 students, 25% FRL); Shepaug Valley School (math 61% / reading 76%, grade B, #23 of 194 statewide, top 12%, 494 students, 21% FRL) — zoned schools average 23% FRL vs 8% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 10 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• 2 sale attempts since 26y 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.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $326k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$67k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 7.5% vs local median 4.0% in New Preston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• 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.