1679 Litchfield Tpke

Woodbridge, CT 06525

$599,900D+

5 bd · 3.0 ba · 3,676 sqft · Built 1976 · MultiFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,659/mo
• Mortgage (P&I): −$3,146
• Tax + insurance: −$1,558
• HOA: −$0
• Vac / Maint / Mgmt: −$1,188
• Net cashflow: $-234/mo
• Annual: $-2,806/yr
• Cap rate: 6.68%
• Cash-on-cash: 1.38%
• DSCR: 1.06
• 1% rule: 0.94%
• Cash to close: $167,972

Investor read

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $600k.
• At list price, monthly cash flow is $-234 ($-3k/yr) — negative. Per door: $-117/mo.
• To cash-flow at today's rent, offer at most $559k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $566k (5.7% below list).
• It's been on market 26 days — a 2% lower offer ($591k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $559k (6.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Woodbridge School District (suburban): math 71% / reading 79% proficiency, ranked #5 of 153 in CT (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Beecher Road School (math 71% / reading 79%, grade A, #43 of 553 statewide, top 8%, 847 students, 14% FRL); Amity Middle School: Bethany (math 56% / reading 70%, grade B+, #34 of 175 statewide, top 20%, 365 students, 16% FRL); Amity Regional High School (math 52% / reading 82%, grade B, #26 of 194 statewide, top 16%, 1,318 students, 13% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 59 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• 4 sale attempts since 24y ago; this cycle's ask is 189% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $390k; list at $600k implies a 54% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.