914 High Path Rd

Windsor, CT 06095

$205,000F

2 bd · 1.5 ba · 972 sqft · Built 1972 · Condo · Under Contract · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,008/mo
• Mortgage (P&I): −$1,075
• Tax + insurance: −$280
• HOA: −$472
• Vac / Maint / Mgmt: −$422
• Net cashflow: $-241/mo
• Annual: $-2,893/yr
• Cap rate: 4.88%
• Cash-on-cash: -5.04%
• DSCR: 0.78
• 1% rule: 0.98%
• Cash to close: $57,400

Investor read

• This is a 2-bed/1.5-bath condo listed at $205k.
• At list price, monthly cash flow is $-241 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (2.1% below list).
• It's been on market 35 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $199k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Windsor School District (suburban): math 29% / reading 41% proficiency, ranked #107 of 153 in CT (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 24% of rent.
• Market conditions: 99 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• Current owner paid $72k; list at $205k implies a 184% gain — meaningful room to come down on a strong offer.
• 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

• 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 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.