160 Main St

Berlin, CT 06037

$149,900B+

3 bd · 2.0 ba · 745 sqft · Built 1914 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,571/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$425
• HOA: −$0
• Vac / Maint / Mgmt: −$540
• Net cashflow: $820/mo
• Annual: $9,836/yr
• Cap rate: 12.85%
• Cash-on-cash: 23.43%
• DSCR: 2.04
• 1% rule: 1.72%
• Cash to close: $41,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $820 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Berlin School District (suburban): math 47% / reading 58% proficiency, ranked #69 of 153 in CT (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Mary E. Griswold School (math 53% / reading 63%, grade C+, #176 of 553 statewide, top 32%, 528 students, 20% FRL); Berlin High School (math 38% / reading 69%, grade C-, #78 of 194 statewide, top 40%, 858 students, 18% FRL).
• Watch-outs: property tax is 2.9% of price; built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 63 active listings in the ZIP; high-income renter base; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.