4 Elaine Dr

Moodus, CT 06469

$339,900D+

3 bd · 1.5 ba · 1,000 sqft · Built 1975 · SingleFamily · Under Contract · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,945/mo
• Mortgage (P&I): −$1,782
• Tax + insurance: −$467
• HOA: −$0
• Vac / Maint / Mgmt: −$618
• Net cashflow: $77/mo
• Annual: $927/yr
• Cap rate: 6.57%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• 1% rule: 0.87%
• Cash to close: $95,172

Investor read

• This is a 3-bed/1.5-bath single-family listed at $340k.
• At list price, monthly cash flow is $77 ($927/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 $295k (13.4% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $295k (13.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#70 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• East Haddam School District (rural): math 47% / reading 65% proficiency, ranked #59 of 153 in CT (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: East Haddam Elementary School (math 57% / reading 57%, grade C+, #177 of 553 statewide, top 34%, 337 students, 27% FRL); Nathan Hale-Ray Middle School (math 46% / reading 67%, grade B, #59 of 175 statewide, top 34%, 378 students, 28% FRL); Nathan Hale-Ray High School (math 42% / reading 67%, grade C-, #63 of 194 statewide, top 39%, 262 students, 22% FRL).
• Market conditions: 14 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).
• 3 sale attempts since 23y 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 $155k; list at $340k implies a 119% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 61% 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

• Built in 1975 — 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.
• 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?
• 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.