18 Old Kings Hwy

Coleytown, CT 06883

$699,000B

4 bd · 3.0 ba · 2,427 sqft · Built 1930 · SingleFamily · Under Contract · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,718/mo
• Mortgage (P&I): −$3,666
• Tax + insurance: −$1,347
• HOA: −$213
• Vac / Maint / Mgmt: −$1,831
• Net cashflow: $1,661/mo
• Annual: $19,937/yr
• Cap rate: 9.15%
• Cash-on-cash: 10.19%
• DSCR: 1.45
• 1% rule: 1.25%
• Cash to close: $195,720

Investor read

• This is a 4-bed/3.0-bath single-family listed at $699k.
• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $699k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Weston School District (suburban): math 68% / reading 77% proficiency, ranked #4 of 153 in CT (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 1% free/reduced lunch — higher-income household profile.
• Zoned schools: Hurlbutt Elementary School (473 students, 1% FRL); Weston High School (math 82% / reading 87%, grade A, #1 of 194 statewide, top 1%, 722 students, 1% FRL) — zoned schools at 1% FRL track the district average.
• Zoned-school proficiency averages 84% at this address vs 72% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Weston School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 73 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• 3 sale attempts since 32y 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 $368k; list at $699k implies a 90% 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

• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.