347 Fox Rd · Putnam, CT 06260

$435,000

8 bd · 4.0 ba · 2,160 sqft · MultiFamily public records · 5 Days on market

Built 1970 2.00 ac lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Multiple offers. Highest & best by Monday 6/15/26 1:00 Fantastic investment opportunity in East Putnam! This well-maintained 4-family property sits on a nicely wooded 2-acre lot offering a peaceful setting while still being conveniently close to I-395 for an easy commute. Each unit features 2 bedrooms and 1 full bath with laundry hookups. One apartment is currently open, making this a great opportunity for an investor looking to set market rent or for a someone interested in occupying a unit while generating rental income from the others. A new roof in Dec of 2025. Plenty of potential in a desirable location with easy access to shopping, dining, and local amenities.

Key facts

• 2 acre lot
• 10 parking spots
• Built 1970

Property features AI

Exterior

• Parking: Unpaved off-street parking; Approximately 10 parking spaces
• Utilities: Private well water; Septic sewage; Electric domestic hot water; Electric heat
• Home design: Multi-family property (4-family); Multi-family for sale
• Construction: Frame construction; Wood siding; Concrete foundation; Asphalt shingle roof; Brown exterior color
• Exterior features: Sidewalk; Shed; Gutters; Secluded, lightly wooded, level lot

Interior

• Bedrooms: 8 bedrooms (total)
• Bathrooms: 4 full bathrooms
• Heating & cooling: Baseboard heating (electric); Wall unit cooling; Thermopane windows
• Interior features: 16 total rooms; Has an attic with pull-down stairs; No basement
• Laundry & utility: Laundry located in bathrooms; All units have washer/dryer hook-ups

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $435k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $415/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $435k).
• Cap rate 10.9% vs local median 3.5% in Putnam — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#117 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: health & safety D+, amenities F, commute F.
• Putnam School District (suburban): math 25% / reading 34% proficiency, ranked #126 of 153 in CT (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Putnam Elementary School (math 31% / reading 33%, grade F, #361 of 553 statewide, top 68%, 571 students, 57% FRL).
• Market conditions: 58 active listings in the ZIP; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $122k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $435,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.34%
• DSCR: 1.73
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.29×
• Total profit: $35,053
• Equity at exit: $64,860

10-year hold

• IRR: 16.7%
• Equity multiple: 2.37×
• Total profit: $166,259
• Equity at exit: $37,611

Cash invested: $121,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Connecticut: 27 Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Strong tenant statutes; rent commissions in some towns; courts slow especially in cities.

Methodology + full state rankings →

ZIP-level market 06260

• Home prices YoY: -4.3%
• Active inventory: 58
• Price-to-rent: 25.9×

Monthly cashflow live

• Estimated rent: $5,606 medium
• Mortgage (P&I): −$2,281
• Tax from tax record: −$308 /mo · $3,699/yr
• Insurance: −$181
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,177
• Net cashflow: $1,658

Break-even live

Break-even rent $3,507

Max offer price $435,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,904	-5% $1,781	+0% $1,658	+5% $1,535	+10% $1,412
Rent	-10% $1,215	-5% $1,437	+0% $1,658	+5% $1,879	+10% $2,101
Rate	-1.0pp $1,877	-0.5pp $1,769	base $1,658	+0.5pp $1,545	+1.0pp $1,431

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,604
Total (4 units)			$5,606

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $108,750
• Closing costs: $13,050
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-17
   status $435,000 Under Contract 5 DOM
2. 2026-06-16
   days on market $435,000 Active 5 DOM
3. 2026-06-16
   remarks 677-char remark
4. 2026-06-15
   days on market $435,000 Active 4 DOM
5. 2026-06-13
   days on market $435,000 Active 2 DOM
6. 2026-06-12
   status $435,000 Active 1 DOM
7. 2026-06-09
   remarks 619-char remark
8. 2026-06-09
   listed $435,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CT · Partial reset (capped growth)

• Current annual tax: $3,699 · $308/mo
• Projected year-2 tax: $6,504 · $542/mo
• Expected delta: +$2,805/yr (+$234/mo · 75.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,272
• − Mortgage interest: −$24,367
• − Property taxes: −$3,699
• − Insurance: −$2,175
• − Repairs & maintenance: −$5,382
• − Management: −$5,382
• − Depreciation: −$12,655
• Taxable income: $13,613
• Est. tax owed @ 24.0%: −$3,267
• After-tax cash flow: $16,629/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Putnam School District
• NCES district ID: 0903480
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 34% ▼ -19.00%
• Median HH income: $51,031
• Composite: 25.85/100
• National rank: #7349
• State rank: #126 of 153 in CT

Livability — Putnam

• Score: 66/100
• State rank: #117
• US rank: #11486

Category grades

Amenities F Commute F Cost of living A Crime A+ Employment C Housing A+ Health & safety D+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,227

Population outlook (Northeastern Connecticut County) Hauer SSP2

• By 2040: 104,160

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Lithuanian 18% Romanian 5% Scotch-Irish 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Northeastern Connecticut

• 2024 margin: R (+15.4) · D 41.5% · R 57.0% · Other 1.5%
• All cycles: 2024: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -14.95%
• Current HPI: 332.9661
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.06%
• F500 in state: 38

Industry mix (Fortune 500 HQ in CT)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$38B
▸Insurance	3	$71B
▸Financial Services	2	$25B
▸Transportation / Logistics	2	$18B
▸Healthcare	1	$247B
▸Telecommunications	1	$55B

Price history

1 event — show timeline

• 2026-06-08 Coming Soon $435,000 Smart MLS

Property tax history

+2.5%/yr

Latest (2023): $3,699 · +4.8% YoY. Source: county tax records.