9 Crystal Dr

Windsor Locks, CT 06026

$419,900D

3 bd · 2.5 ba · 1,952 sqft · Built 2000 · SingleFamily · Under Contract · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,720/mo
• Mortgage (P&I): −$2,202
• Tax + insurance: −$815
• HOA: −$0
• Vac / Maint / Mgmt: −$781
• Net cashflow: $-78/mo
• Annual: $-935/yr
• Cap rate: 6.07%
• Cash-on-cash: -0.80%
• DSCR: 0.96
• 1% rule: 0.89%
• Cash to close: $117,572

Investor read

• This is a 3-bed/2.5-bath single-family listed at $420k.
• At list price, monthly cash flow is $-78 ($-935/yr) — negative.
• To cash-flow at today's rent, offer at most $406k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $372k (11.4% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $372k (11.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#65 in CT, #4,599 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• East Granby School District (rural): math 51% / reading 64% proficiency, ranked #54 of 153 in CT (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Allgrove School (202 students, 15% FRL); East Granby Middle School (math 51% / reading 70%, grade B+, #45 of 175 statewide, top 28%, 195 students, 19% FRL); East Granby High School (math 57% / reading 67%, grade B-, #40 of 194 statewide, top 21%, 258 students, 14% FRL).
• Market conditions: 26 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• Current owner paid $166k; list at $420k implies a 153% gain — meaningful room to come down on a strong offer.
• Cap rate 6.1% vs local median 3.9% in Windsor Locks — 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.

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?
• 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.
• 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.