56 Goldmine Rd

Woodbury Center, CT 06783

$1,375,000C-

3 bd · 2.5 ba · 2,620 sqft · Built 2006 · SingleFamily · Under Contract · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $11,067/mo
• Mortgage (P&I): −$7,211
• Tax + insurance: −$1,110
• HOA: −$0
• Vac / Maint / Mgmt: −$2,324
• Net cashflow: $423/mo
• Annual: $5,075/yr
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• 1% rule: 0.80%
• Cash to close: $385,000

Investor read

• This is a 3-bed/2.5-bath single-family listed at $1.38M.
• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.11M (19.5% below list).
• It's been on market 18 days — a 2% lower offer ($1.35M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.11M (19.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $41k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#80 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A, health & safety A; Watch: commute F, cost of living F.
• Regional School District 12 (rural): math 64% / reading 77% proficiency, ranked #20 of 153 in CT (top 13%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Booth Free School (math 64% / reading 74%, grade A-, #78 of 553 statewide, top 17%, 73 students, 18% FRL).
• Market conditions: 48 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• 5 sale attempts since 29y 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.
• Current owner paid $169k; list at $1.38M implies a 714% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• 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.
• 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.