54 Center St

Hartland, CT 06091

$369,900B

4 bd · 1.0 ba · 1,396 sqft · Built 1948 · SingleFamily · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,500/mo
• Mortgage (P&I): −$1,940
• Tax + insurance: −$498
• HOA: −$0
• Vac / Maint / Mgmt: −$945
• Net cashflow: $1,117/mo
• Annual: $13,401/yr
• Cap rate: 9.92%
• Cash-on-cash: 12.94%
• DSCR: 1.58
• 1% rule: 1.22%
• Cash to close: $103,572

Investor read

• This is a 4-bed/1.0-bath single-family listed at $370k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $370k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $25k of equity ($3k loan paydown + $23k appreciation (6.2% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Hartland School District (rural): math 55% / reading 75% proficiency, ranked #69 of 192 in CT (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 6% free/reduced lunch — higher-income household profile.
• Zoned schools: Hartland School (math 47% / reading 67%, grade C+, #177 of 553 statewide, top 34%, 116 students, 16% FRL).
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 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).
• 4 sale attempts since 17y 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 $209k; list at $370k implies a 77% gain — meaningful room to come down on a strong offer.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $104k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.