39 N Main St

Sharon, CT 06069

$599,000D+

4 bd · 2.0 ba · 1,479 sqft · Built 1950 · SingleFamily · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,496/mo
• Mortgage (P&I): −$3,141
• Tax + insurance: −$413
• HOA: −$0
• Vac / Maint / Mgmt: −$1,154
• Net cashflow: $787/mo
• Annual: $9,442/yr
• Cap rate: 7.87%
• Cash-on-cash: 5.63%
• DSCR: 1.25
• 1% rule: 0.92%
• Cash to close: $167,720

Investor read

• This is a 4-bed/2.0-bath single-family listed at $599k.
• At list price, monthly cash flow is $787 ($9k/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 $550k (8.3% below list).
• It's been on market 43 days — a 3% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $550k (8.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.2%/yr); year-one equity from $4k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#141 in CT) — a working-class tenant base; expect higher turnover. Strengths: employment A+, crime A, cost of living B+; Watch: amenities F, commute D-, housing F.
• Sharon School District (rural): math 50% / reading 60% proficiency, ranked #110 of 192 in CT (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Sharon Center School (math 37% / reading 62%, grade D, #237 of 553 statewide, top 45%, 97 students, 41% FRL) — zoned schools average 41% FRL vs 18% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 36 active listings in the ZIP; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• 2 sale attempts since 25y 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 $186k; list at $599k implies a 222% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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?
• 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.