311 Taconic Rd · Canaan, CT 06068

$595,000

3 bd · 2.5 ba · 1,790 sqft · SingleFamily · 1 Days on market

Built 1735 6.20 ac lot Est $911k · 35% under

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Why this score? — see what drove the C+ 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 +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +6.3/10.0
• Schools +6.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This antique home, originally built in the 1700s, has been thoughtfully expanded into a home where antique bones meet mid-century ambition. The original structure anchors the property with a country kitchen open to a casual dining area, with wide board floors, a hand-hewn beam overhead, and blue-and-white tile that gives the space real personality. The kitchen flows into a living room with fireplace; up a level, a bedroom (currently used as a closet) and a full bath. The mid-century addition shifts the mood entirely: a dramatic great room with vaulted ceiling, exposed redwood paneling and beams, stone fireplace, and a sense of scale you don't expect until you're standing in it. A sunroom an

Key facts

• 6.2 acre lot
• 2 garage spots
• Pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $595k.

Deal economics

• At list price, monthly cash flow is $16k ($188k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $595k).
• Cap rate 37.8% vs local median 1.7% in Canaan — 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 62/100 on livability (#133 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A; Watch: schools C-, amenities F, commute F.
• Salisbury School District (rural): math 60% / reading 80% proficiency, ranked #55 of 192 in CT (top 29%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 18 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($4k loan paydown + $15k appreciation (2.5% local appreciation)).
• At projected returns (2.5% appreciation + 3.0% rent growth), your $167k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1735 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $595,000

Questions for the listing agent

1. Built in 1735 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 4.20% ✓
• Cap rate: 37.83%
• Cash-on-cash: 112.64%
• DSCR: 6.01
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $911,110
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
88 Preston Ln	0.66mi	3/2.0	1,756 (-2%)	20mo	$845,000	$481	47
442 Twin Lakes Rd	0.65mi	2/2.5 (-1)	1,916 (+7%)	15mo	$975,000	$509	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.52% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.32×
• Total profit: $1,052,930
• Equity at exit: $251,450

10-year hold

• IRR: —
• Equity multiple: 15.24×
• Total profit: $2,372,267
• Equity at exit: $375,443

Cash invested: $166,600 (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 06068

• Home prices YoY: 0.7%
• Active inventory: 18
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $25,000 medium
• Mortgage (P&I): −$3,120
• Tax est. 1.5%: −$744 /mo · $8,925/yr
• Insurance: −$248
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,250
• Net cashflow: $15,638

Break-even live

Break-even rent $5,205

Max offer price $595,000

Occupancy floor 32%

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: $148,750
• Closing costs: $17,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
261 Taconic Rd Salisbury, CT	4.0	3.0	2499	$25,000	$10.00	43d	1	0.45mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $595,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $300,000
• − Mortgage interest: −$33,329
• − Property taxes: −$8,925
• − Insurance: −$2,975
• − Repairs & maintenance: −$24,000
• − Management: −$24,000
• − Depreciation: −$17,309
• Taxable income: $189,462
• Est. tax owed @ 24.0%: −$45,471
• After-tax cash flow: $142,186/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: Salisbury School District
• NCES district ID: 0903930
• Math proficiency: 60% ▼ -5.00%
• Reading proficiency: 80% ▲ 5.00%
• Median HH income: $69,634
• Composite: 62.4/100
• National rank: #1420
• State rank: #55 of 192 in CT

Livability — Canaan

• Score: 62/100
• State rank: #133
• US rank: #16567

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,034

Population outlook (Northwest Hills County) Hauer SSP2

• By 2040: 118,998

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 9% Hispanic / Latino 4%
• Common ancestry: Slovak 8% Estonian 4% Portuguese 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Other Indo-European 6% Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Northwest Hills

• 2024 margin: Toss-up / Even · D 48.6% · R 49.9% · Other 1.6%
• All cycles: 2024: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.52%
• Current HPI: 359.4432
• 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