47 Maple Ave

Thompsonville, CT 06082

$464,999D+

7 bd · 2.0 ba · 2,820 sqft · Built 1923 · MultiFamily · Under Contract · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,716/mo
• Mortgage (P&I): −$2,439
• Tax + insurance: −$650
• HOA: −$0
• Vac / Maint / Mgmt: −$990
• Net cashflow: $637/mo
• Annual: $7,645/yr
• Cap rate: 7.94%
• Cash-on-cash: 5.87%
• DSCR: 1.26
• 1% rule: 1.01%
• Cash to close: $130,200

Investor read

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $465k.
• At list price, monthly cash flow is $637 ($8k/yr) — positive. Per door: $319/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $465k).
• It's been on market 38 days — a 3% lower offer ($451k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $451k (3.0% 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 $14k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#103 in CT) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, crime B+; Watch: amenities F, commute F, employment D-.
• Enfield School District (suburban): math 25% / reading 41% proficiency, ranked #114 of 153 in CT (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hazardville Memorial School (329 students, 44% FRL); Enfield High School (math 29% / reading 54%, grade F, #102 of 194 statewide, top 53%, 1,490 students, 40% FRL).
• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.9%/yr); 182 active listings in the ZIP; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• 4 sale attempts; this cycle's ask is 16216% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $245k; list at $465k implies a 90% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.9% vs local median 5.3% in Thompsonville — 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.
• At $4,716/mo this rent would consume 63% of the median local household income ($90k/yr) (locally 954% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1923 — 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.
• 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.
• 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.