28 Skitchewaug St

Hartford, CT 06095

$290,000D-

3 bd · 1.5 ba · 1,472 sqft · Built 1926 · SingleFamily · Under Contract · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,338/mo
• Mortgage (P&I): −$1,521
• Tax + insurance: −$558
• HOA: −$0
• Vac / Maint / Mgmt: −$491
• Net cashflow: $-231/mo
• Annual: $-2,771/yr
• Cap rate: 5.34%
• Cash-on-cash: -3.41%
• DSCR: 0.85
• 1% rule: 0.81%
• Cash to close: $81,200

Investor read

• This is a 3-bed/1.5-bath single-family listed at $290k.
• At list price, monthly cash flow is $-231 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (19.4% below list).
• It's been on market 59 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $234k (19.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#58 in CT, #3,553 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D-, crime F, employment F.
• Windsor School District (suburban): math 29% / reading 41% proficiency, ranked #107 of 153 in CT (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 99 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• 4 sale attempts since 22y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; list at $290k implies a 87% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 59 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1926 — 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.