8 South St Unit WW 96

Stafford, CT 06076

$45,900B-

2 bd · 1.0 ba · 792 sqft · Built 2007 · Condo · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,494/mo
• Mortgage (P&I): −$241
• Tax + insurance: −$76
• HOA: −$238
• Vac / Maint / Mgmt: −$314
• Net cashflow: $625/mo
• Annual: $7,502/yr
• Cap rate: 22.64%
• Cash-on-cash: 58.38%
• DSCR: 3.60
• 1% rule: 3.26%
• Cash to close: $12,852

Investor read

• This is a 2-bed/1.0-bath condo listed at $46k. Condition is rated fair.
• At list price, monthly cash flow is $625 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $317 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Stafford School District (town): math 33% / reading 48% proficiency, ranked #99 of 153 in CT (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 72 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Major: Landscaping — Overgrown and unkempt, needs trimming and planting.
• Major: Fencing — Visible but not in good condition, may need repair or replacement.
• Minor: Kitchen Countertops — Slight wear, could be cleaned or replaced with new ones.
• Minor: Bathroom Fixtures — Dated but functional, could be replaced with updated ones.
• Minor: Paint Touch-Up — Walls need touch-up painting to improve appearance.
• Minor: Carpet Cleaning — Clean but may benefit from deep cleaning to remove stains and odors.