34 Dick Finn New Fairfield CT Rd

New Fairfield, CT 06812

$499,000D+

3 bd · 3.0 ba · 1,104 sqft · Built 1975 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,100/mo
• Mortgage (P&I): −$2,617
• Tax + insurance: −$676
• HOA: −$0
• Vac / Maint / Mgmt: −$861
• Net cashflow: $-54/mo
• Annual: $-650/yr
• Cap rate: 6.16%
• Cash-on-cash: -0.47%
• DSCR: 0.98
• 1% rule: 0.82%
• Cash to close: $139,720

Investor read

• This is a 3-bed/3.0-bath single-family listed at $499k.
• At list price, monthly cash flow is $-54 ($-650/yr) — negative.
• To cash-flow at today's rent, offer at most $489k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $410k (17.8% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $410k (17.8% 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 $15k of value loss. Plan a longer hold.
• Location reads: area grade D — 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 Middle School (math 52% / reading 70%, grade B+, #41 of 175 statewide, top 25%, 492 students, 17% FRL); New Fairfield High School (math 57% / reading 77%, grade B, #26 of 194 statewide, top 16%, 686 students, 15% FRL).
• Market conditions: 81 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).
• 8 sale attempts since 20y 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 $214k; list at $499k implies a 133% gain — meaningful room to come down on a strong offer.

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?
• Built in 1975 — 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.
• 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.