262 Shetucket Tpke #81

Griswold, CT 06351

$65,000B+

2 bd · 1.0 ba · 400 sqft · Built 2012 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,298/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$260
• Vac / Maint / Mgmt: −$273
• Net cashflow: $316/mo
• Annual: $3,792/yr
• Cap rate: 12.13%
• Cash-on-cash: 20.84%
• DSCR: 1.93
• 1% rule: 2.00%
• Cash to close: $18,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $65k. Condition is rated fair.
• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• It's been on market 35 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Griswold School District (rural): math 29% / reading 42% proficiency, ranked #111 of 153 in CT (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 20% of rent.
• Market conditions: 75 active listings in the ZIP; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• 7 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.

Repairs flagged (vision-AI assessment)

• Unknown: RV roof — No roof visible in the provided images.
• Minor: RV exterior paint — Some minor wear and tear visible on the RV exterior.