22 Main St Ext Unit A6

Tariffville, CT 06081

$99,900B

1 bd · 1.0 ba · 588 sqft · Built 1986 · Condo · Under Contract · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,533/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$175
• HOA: −$265
• Vac / Maint / Mgmt: −$322
• Net cashflow: $247/mo
• Annual: $2,969/yr
• Cap rate: 9.27%
• Cash-on-cash: 10.62%
• DSCR: 1.47
• 1% rule: 1.53%
• Cash to close: $27,972

Investor read

• This is a 1-bed/1.0-bath condo listed at $100k.
• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($691 loan paydown + $4k appreciation (3.7% local appreciation)).
• Location reads 73/100 on livability (#78 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety B+; Watch: amenities F, commute F.
• Simsbury School District (suburban): math 62% / reading 78% proficiency, ranked #14 of 153 in CT (top 9%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Tariffville School (math 57% / reading 57%, grade C+, #177 of 553 statewide, top 34%, 259 students, 32% FRL); Henry James Memorial School (math 58% / reading 81%, grade A, #17 of 175 statewide, top 9%, 620 students, 16% FRL); Simsbury High School (math 60% / reading 83%, grade B+, #17 of 194 statewide, top 8%, 1,217 students, 14% FRL).
• Market conditions: 5 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At projected returns (3.7% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• 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.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.