21 Potvin Ave

Moosup, CT 06354

$215,000C+

3 bd · 1.5 ba · 960 sqft · Built 1989 · SingleFamily · Under Contract · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,000/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$301
• HOA: −$0
• Vac / Maint / Mgmt: −$420
• Net cashflow: $152/mo
• Annual: $1,822/yr
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• 1% rule: 0.93%
• Cash to close: $60,200

Investor read

• This is a 3-bed/1.5-bath single-family listed at $215k.
• At list price, monthly cash flow is $152 ($2k/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 $200k (7.0% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $200k (7.0% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (9.2% local appreciation)).
• Location reads 67/100 on livability (#113 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: employment D+, amenities F, commute F.
• Plainfield School District (town): math 24% / reading 41% proficiency, ranked #117 of 153 in CT (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Moosup Elementary School (math 32% / reading 47%, grade F, #298 of 553 statewide, top 56%, 291 students, 57% FRL); Plainfield Central School (math 25% / reading 44%, grade F, #124 of 175 statewide, top 72%, 445 students, 57% FRL); Plainfield High School (math 17% / reading 42%, grade F, #139 of 194 statewide, top 74%, 535 students, 49% FRL) — zoned schools average 54% FRL vs 37% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 27 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).
• Current owner paid $30k; list at $215k implies a 617% gain — meaningful room to come down on a strong offer.
• At projected returns (9.2% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

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.