12 Juniper Meadow Rd #12

New Preston, CT 06794

$799,000C-

2 bd · 2.5 ba · 3,335 sqft · Built 1986 · Condo · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $34,900/mo
• Mortgage (P&I): −$4,190
• Tax + insurance: −$1,332
• HOA: −$801
• Vac / Maint / Mgmt: −$7,329
• Net cashflow: $21,248/mo
• Annual: $254,979/yr
• Cap rate: 38.21%
• Cash-on-cash: 113.97%
• DSCR: 6.07
• 1% rule: 4.37%
• Cash to close: $223,720

Investor read

• This is a 2-bed/2.5-bath condo listed at $799k. Condition is rated good.
• At list price, monthly cash flow is $21k ($255k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($35k rent vs $799k).
• It's been on market 70 days — a 6% lower offer ($751k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $751k (6.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($6k loan paydown + $1k appreciation (0.2% local appreciation)).
• Location reads 69/100 on livability (#105 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, 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.
• Market conditions: 15 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).
• At projected returns (0.2% appreciation + 3.0% rent growth), your $224k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 38.2% vs local median 4.0% in New Preston — 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.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.
• 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 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.