149 Old Redding Rd

Redding, CT 06896

$1,075,000F

3 bd · 3.5 ba · 2,110 sqft · Built 1958 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,150/mo
• Mortgage (P&I): −$5,637
• Tax + insurance: −$1,389
• HOA: −$0
• Vac / Maint / Mgmt: −$661
• Net cashflow: $-4,538/mo
• Annual: $-54,454/yr
• Cap rate: 1.23%
• Cash-on-cash: -18.09%
• DSCR: 0.20
• 1% rule: 0.29%
• Cash to close: $301,000

Investor read

• This is a 3-bed/3.5-bath single-family listed at $1.07M.
• At list price, monthly cash flow is $-5k ($-54k/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (74.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $315k (70.7% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $273k (74.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $32k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Regional School District 09 (rural): math 75% / reading 90% proficiency, ranked #7 of 192 in CT (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Joel Barlow High School (math 57% / reading 82%, grade B, #18 of 194 statewide, top 10%, 768 students, 12% FRL).
• Zoned-school proficiency averages 70% at this address vs 82% district-wide (-13 pts) — the specific schools serving this property underperform the Regional School District 09 average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 62 active listings in the ZIP; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• 3 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $400k; list at $1.07M implies a 169% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

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?
• Built in 1958 — 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.
• 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.