80 Harvey Rd

Ridgefield, CT 06877

$799,999D-

3 bd · 2.0 ba · 1,612 sqft · Built 1963 · SingleFamily · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,392/mo
• Mortgage (P&I): −$4,195
• Tax + insurance: −$1,130
• HOA: −$0
• Vac / Maint / Mgmt: −$922
• Net cashflow: $-1,856/mo
• Annual: $-22,272/yr
• Cap rate: 3.51%
• Cash-on-cash: -9.94%
• DSCR: 0.56
• 1% rule: 0.55%
• Cash to close: $224,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $800k.
• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $472k (41.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $439k (45.1% below list).
• It's been on market 34 days — a 3% lower offer ($776k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $439k (45.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#38 in CT, #2,615 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, commute A-; Watch: amenities F, cost of living F.
• Ridgefield School District (suburban): math 69% / reading 79% proficiency, ranked #6 of 153 in CT (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Zoned schools: Farmingville Elementary School (math 77% / reading 87%, grade A+, #11 of 553 statewide, top 3%, 314 students, 3% FRL); East Ridge Middle School (math 68% / reading 75%, grade A, #10 of 175 statewide, top 6%, 495 students, 8% FRL); Ridgefield High School (math 66% / reading 91%, grade A-, #7 of 194 statewide, top 3%, 1,474 students, 7% FRL) — zoned schools at 6% FRL track the district average.
• Market conditions: 143 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• 9 sale attempts since 18y ago; this cycle's ask has dropped $150k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $230k; list at $800k implies a 248% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 3.5% vs local median 2.5% in Ridgefield — 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?
• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
• Built in 1963 — 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.