10 Myrna Dr

Terramuggus, CT 06447

$209,000B

4 bd · 1.0 ba · 1,075 sqft · Built 1956 · SingleFamily · Under Contract · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,592/mo
• Mortgage (P&I): −$1,096
• Tax + insurance: −$418
• HOA: −$0
• Vac / Maint / Mgmt: −$544
• Net cashflow: $533/mo
• Annual: $6,402/yr
• Cap rate: 9.36%
• Cash-on-cash: 10.94%
• DSCR: 1.49
• 1% rule: 1.24%
• Cash to close: $58,520

Investor read

• This is a 4-bed/1.0-bath single-family listed at $209k.
• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $209k).
• It's been on market 42 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $203k (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 72/100 on livability (#86 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Regional School District 08 (rural): math 54% / reading 65% proficiency, ranked #34 of 153 in CT (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 6% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• 2 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1956 — 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.
• 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.