178 Center St

Hartland, CT 06091

$545,000D

3 bd · 2.0 ba · 2,364 sqft · Built 1820 · SingleFamily · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,992/mo
• Mortgage (P&I): −$2,858
• Tax + insurance: −$738
• HOA: −$0
• Vac / Maint / Mgmt: −$838
• Net cashflow: $-442/mo
• Annual: $-5,308/yr
• Cap rate: 5.32%
• Cash-on-cash: -3.48%
• DSCR: 0.85
• 1% rule: 0.73%
• Cash to close: $152,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $545k.
• At list price, monthly cash flow is $-442 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $467k (14.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $399k (26.7% below list).
• It's been on market 70 days — a 6% lower offer ($512k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $399k (26.7% below list) — sets the bar for 1% rule.
• In year one you build about $38k of equity ($4k loan paydown + $34k appreciation (6.2% local appreciation)).
• Location reads: area grade D — 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.
• Watch-outs: built in 1820 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• 2 sale attempts since 5y ago; this cycle's ask has dropped $50k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $446k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 70 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1820 — 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.
• 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.