131 River Rd

Storrs, CT 06279

$339,900B

6 bd · 2.5 ba · 3,118 sqft · Built 1900 · MultiFamily · Under Contract · 129 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,700/mo
• Mortgage (P&I): −$1,782
• Tax + insurance: −$486
• HOA: −$0
• Vac / Maint / Mgmt: −$1,197
• Net cashflow: $2,234/mo
• Annual: $26,814/yr
• Cap rate: 14.18%
• Cash-on-cash: 28.17%
• DSCR: 2.25
• 1% rule: 1.68%
• Cash to close: $95,172

Investor read

• This is a 2 × 3-bed/1.2-bath units multifamily listed at $340k.
• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $340k).
• It's been on market 129 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $299k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#8 in CT, #1,066 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment F, housing F.
• Willington School District (rural): math 36% / reading 53% proficiency, ranked #90 of 153 in CT (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 28 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 $95k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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.