55 Metacomet Rd

Plainville, CT 06062

$295,000C-

3 bd · 1.5 ba · 1,296 sqft · Built 1967 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,812/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$555
• HOA: −$0
• Vac / Maint / Mgmt: −$591
• Net cashflow: $119/mo
• Annual: $1,430/yr
• Cap rate: 6.78%
• Cash-on-cash: 1.73%
• DSCR: 1.08
• 1% rule: 0.95%
• Cash to close: $82,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $295k.
• At list price, monthly cash flow is $119 ($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 $281k (4.7% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $281k (4.7% 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Plainville School District (suburban): math 40% / reading 58% proficiency, ranked #82 of 153 in CT (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Frank T. Wheeler School (math 42% / reading 57%, grade D, #237 of 553 statewide, top 45%, 287 students, 44% FRL); Middle School of Plainville (math 38% / reading 55%, grade D+, #89 of 175 statewide, top 51%, 540 students, 42% FRL); Plainville High School (math 42% / reading 62%, grade D+, #80 of 194 statewide, top 44%, 686 students, 42% FRL) — zoned schools average 43% FRL vs 23% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 41 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).

Questions for listing agent

• Built in 1967 — 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.