4 Apache Rd

East Hartford, CT 06118

$104,999C

2 bd · 1.0 ba · 840 sqft · Built 2016 · Manufactured · Under Contract · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,121/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$162
• HOA: −$776
• Vac / Maint / Mgmt: −$445
• Net cashflow: $187/mo
• Annual: $2,246/yr
• Cap rate: 8.43%
• Cash-on-cash: 7.64%
• DSCR: 1.34
• 1% rule: 2.02%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $105k.
• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#76 in CT) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, commute A-; Watch: amenities F, health & safety F.
• East Hartford School District (urban): math 17% / reading 30% proficiency, ranked #140 of 153 in CT (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dr. Thomas S. O'Connell School (math 28% / reading 42%, grade F, #337 of 553 statewide, top 61%, 525 students, 63% FRL); East Hartford High School (math 11% / reading 33%, grade F, #156 of 194 statewide, top 82%, 1,698 students, 63% FRL).
• Watch-outs: HOA is 37% of rent.
• Market conditions: 100 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• Current owner paid $55k; list at $105k implies a 91% gain — meaningful room to come down on a strong offer.
• Cap rate 8.4% vs local median 4.2% in East Hartford — 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.
• This rent runs 32% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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 D-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.