28 Main St

Plymouth, CT 06786

$59,900B-

1 bd · 1.0 ba · 672 sqft · Built 1945 · SingleFamily · Under Contract · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,347/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$194
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $556/mo
• Annual: $6,674/yr
• Cap rate: 17.43%
• Cash-on-cash: 39.79%
• DSCR: 2.77
• 1% rule: 2.25%
• Cash to close: $16,772

Investor read

• This is a 1-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Plymouth School District (suburban): math 42% / reading 58% proficiency, ranked #78 of 153 in CT (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 3.4% of price; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 55 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.