81 Parkway Dr

Quinebaug, CT 06277

$99,000D+

1 bd · 1.0 ba · 720 sqft · Built 1973 · SingleFamily · Under Contract · 210 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,204/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$165
• HOA: −$275
• Vac / Maint / Mgmt: −$253
• Net cashflow: $-8/mo
• Annual: $-96/yr
• Cap rate: 6.20%
• Cash-on-cash: -0.35%
• DSCR: 0.98
• 1% rule: 1.22%
• Cash to close: $27,720

Investor read

• This is a 1-bed/1.0-bath single-family listed at $99k. Condition is rated average.
• At list price, monthly cash flow is $-8 ($-96/yr) — negative.
• To cash-flow at today's rent, offer at most $98k (1.2% below list).
• Meets the 1% rule at list price ($1k rent vs $99k).
• It's been on market 210 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#134 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B; Watch: schools F, amenities F, commute F.
• Thompson School District (suburban): math 22% / reading 38% proficiency, ranked #124 of 153 in CT (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 23% of rent.
• Market conditions: 35 active listings in the ZIP; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).
• 3 sale attempts; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major flood risk; major wind risk, 50% chance of damaging wind over 30y — 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 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — existing track lighting
• Minor: bathroom fixtures — existing track lighting
• Minor: roof — existing track lighting
• Minor: exterior siding — existing track lighting
• Minor: interior walls — existing track lighting
• Minor: windows — existing track lighting