1349 Main Rd

North Granby, CT 01034

$48,000B+

3 bd · 3.5 ba · 2,889 sqft · Built 1983 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,995/mo
• Mortgage (P&I): −$252
• Tax + insurance: −$80
• HOA: −$0
• Vac / Maint / Mgmt: −$419
• Net cashflow: $1,245/mo
• Annual: $14,936/yr
• Cap rate: 37.41%
• Cash-on-cash: 111.13%
• DSCR: 5.94
• 1% rule: 4.16%
• Cash to close: $13,440

Investor read

• This is a 3-bed/3.5-bath single-family listed at $48k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($332 loan paydown + $5k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#132 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.
• Southwick-Tolland-Granville Regional School District (rural): math 34% / reading 46% proficiency, ranked #189 of 302 in MA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).
• Hampden County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 2y 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 $38k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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.