392 Boston Neck Rd

Suffield Depot, CT 06078

$399,900C-

4 bd · 2.5 ba · 2,444 sqft · Built 1755 · SingleFamily · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,750/mo
• Mortgage (P&I): −$2,097
• Tax + insurance: −$750
• HOA: −$0
• Vac / Maint / Mgmt: −$788
• Net cashflow: $115/mo
• Annual: $1,380/yr
• Cap rate: 6.64%
• Cash-on-cash: 1.23%
• DSCR: 1.05
• 1% rule: 0.94%
• Cash to close: $111,972

Investor read

• This is a 4-bed/2.5-bath single-family listed at $400k.
• At list price, monthly cash flow is $115 ($1k/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 $375k (6.2% below list).
• It's been on market 102 days — a 9% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $364k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#126 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: amenities F, commute F, cost of living F.
• Suffield School District (rural): math 51% / reading 65% proficiency, ranked #47 of 153 in CT (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: A. Ward Spaulding School (480 students, 15% FRL); Suffield Middle School (math 57% / reading 66%, grade B+, #39 of 175 statewide, top 22%, 445 students, 16% FRL); Suffield High School (math 47% / reading 72%, grade C+, #45 of 194 statewide, top 25%, 676 students, 18% FRL).
• Watch-outs: built in 1755 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1755 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.