15 Jennie Ln

Compo, CT 06880

$699,000D

2 bd · 1.0 ba · 2,240 sqft · Built 1956 · SingleFamily · Under Contract · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,738/mo
• Mortgage (P&I): −$3,666
• Tax + insurance: −$935
• HOA: −$0
• Vac / Maint / Mgmt: −$1,205
• Net cashflow: $-68/mo
• Annual: $-813/yr
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• 1% rule: 0.82%
• Cash to close: $195,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $699k.
• At list price, monthly cash flow is $-68 ($-813/yr) — negative.
• To cash-flow at today's rent, offer at most $687k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $574k (17.9% below list).
• It's been on market 49 days — a 3% lower offer ($678k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $574k (17.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Westport School District (suburban): math 74% / reading 82% proficiency, ranked #3 of 153 in CT (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Zoned schools: Green'S Farms School (math 81% / reading 85%, grade A+, #10 of 553 statewide, top 2%, 442 students, 2% FRL); Bedford Middle School (math 73% / reading 79%, grade A, #4 of 175 statewide, top 2%, 729 students, 3% FRL); Staples High School (math 76% / reading 92%, grade A, #3 of 194 statewide, top 1%, 1,686 students, 2% FRL) — zoned schools at 2% FRL track the district average.
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.6%/yr); 196 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• 3 sale attempts since 31y 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 $243k; list at $699k implies a 188% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate flood risk; major wind risk, 72% 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

• 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 49 days. Have you received any prior offers? Is the seller open to a 18% 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.
• 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.