69 Meadowside Rd

Quinebaug, CT 06281

$75,000B

2 bd · 1.0 ba · 592 sqft · Built 1999 · SingleFamily · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,609/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$138
• Vac / Maint / Mgmt: −$338
• Net cashflow: $615/mo
• Annual: $7,377/yr
• Cap rate: 16.13%
• Cash-on-cash: 35.13%
• DSCR: 2.56
• 1% rule: 2.15%
• Cash to close: $21,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $75k. Condition is rated good.
• At list price, monthly cash flow is $615 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• It's been on market 50 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#134 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B; Watch: amenities F, commute F, health & safety F.
• Woodstock School District (rural): math 32% / reading 55% proficiency, ranked #89 of 153 in CT (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Woodstock Elementary School (math 42% / reading 52%, grade D-, #256 of 553 statewide, top 48%, 427 students, 21% FRL); Woodstock Middle School (math 28% / reading 56%, grade D-, #103 of 175 statewide, top 59%, 346 students, 20% FRL).
• Market conditions: 57 active listings in the ZIP; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 45% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 16.1% vs local median 3.0% in Quinebaug — 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.

Questions for listing agent

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.