1106 Route 198

Woodstock, CT 06281

$359,900B-

3 bd · 2.5 ba · 1,354 sqft · Built 1806 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,000/mo
• Mortgage (P&I): −$1,887
• Tax + insurance: −$436
• HOA: −$0
• Vac / Maint / Mgmt: −$1,050
• Net cashflow: $1,627/mo
• Annual: $19,521/yr
• Cap rate: 11.72%
• Cash-on-cash: 19.37%
• DSCR: 1.86
• 1% rule: 1.39%
• Cash to close: $100,772

Investor read

• This is a 3-bed/2.5-bath single-family listed at $360k.
• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $360k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Woodstock School District (rural): math 32% / reading 55% proficiency, ranked #89 of 153 in CT (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Woodstock Elementary School (math 42% / reading 52%, grade D-, #256 of 553 statewide, top 48%, 427 students, 21% FRL).
• Watch-outs: built in 1806 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 57 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).
• 4 sale attempts since 13y 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 $295k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $101k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1806 — 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.
• 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.