10 Pheasant Hill Rd

Coleytown, CT 06883

$1,975,000C-

5 bd · 7.0 ba · 6,251 sqft · Built 2000 · SingleFamily · Under Contract · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $19,264/mo
• Mortgage (P&I): −$10,357
• Tax + insurance: −$3,716
• HOA: −$0
• Vac / Maint / Mgmt: −$4,046
• Net cashflow: $1,146/mo
• Annual: $13,747/yr
• Cap rate: 6.99%
• Cash-on-cash: 2.49%
• DSCR: 1.11
• 1% rule: 0.98%
• Cash to close: $553,000

Investor read

• This is a 5-bed/7.0-bath single-family listed at $1.98M.
• At list price, monthly cash flow is $1k ($14k/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 $1.93M (2.5% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $1.93M (2.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $14k of loan paydown is wiped out by about $59k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Weston School District (suburban): math 68% / reading 77% proficiency, ranked #4 of 153 in CT (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 1% free/reduced lunch — higher-income household profile.
• Zoned schools: Hurlbutt Elementary School (473 students, 1% FRL); Weston High School (math 82% / reading 87%, grade A, #1 of 194 statewide, top 1%, 722 students, 1% FRL) — zoned schools at 1% FRL track the district average.
• Zoned-school proficiency averages 84% at this address vs 72% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Weston School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 73 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• 15 sale attempts since 26y 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 $1.70M; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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.