1252 Straits Tpke

Middlebury, CT 06762

$299,900C+

4 bd · 1.0 ba · 1,848 sqft · Built 1929 · SingleFamily · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,216/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$543
• HOA: −$0
• Vac / Maint / Mgmt: −$675
• Net cashflow: $425/mo
• Annual: $5,100/yr
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• 1% rule: 1.07%
• Cash to close: $83,972

Investor read

• This is a 4-bed/1.0-bath single-family listed at $300k.
• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Regional School District 15 (suburban): math 56% / reading 64% proficiency, ranked #46 of 153 in CT (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Middlebury Elementary School (math 62% / reading 67%, grade B, #118 of 553 statewide, top 23%, 319 students, 18% FRL); Pomperaug Regional High School (math 54% / reading 74%, grade B-, #37 of 194 statewide, top 19%, 1,039 students, 14% FRL).
• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 60 active listings in the ZIP; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• Current owner paid $145k; list at $300k implies a 107% gain — meaningful room to come down on a strong offer.
• 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 1929 — 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.
• 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.