94 Washinee Heights Rd

Salisbury, CT 06068

$1,250,000B-

3 bd · 3.0 ba · 2,346 sqft · Built 1972 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $25,000/mo
• Mortgage (P&I): −$6,555
• Tax + insurance: −$942
• HOA: −$0
• Vac / Maint / Mgmt: −$5,250
• Net cashflow: $12,253/mo
• Annual: $147,030/yr
• Cap rate: 18.06%
• Cash-on-cash: 42.01%
• DSCR: 2.87
• 1% rule: 2.00%
• Cash to close: $350,000

Investor read

• This is a 3-bed/3.0-bath single-family listed at $1.25M.
• At list price, monthly cash flow is $12k ($147k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $1.25M).
• It's been on market 45 days — a 3% lower offer ($1.21M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.21M (3.0% below list) — sets the bar for market timing.
• In year one you build about $40k of equity ($9k loan paydown + $31k appreciation (2.5% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Salisbury School District (rural): math 60% / reading 80% proficiency, ranked #55 of 192 in CT (top 29%) — strong family-tenant draw, lease renewals of 3-5y typical; only 9% free/reduced lunch — higher-income household profile.
• Zoned schools: Salisbury Central School (math 62% / reading 77%, grade A-, #78 of 553 statewide, top 17%, 296 students, 18% FRL); Housatonic Valley Regional High School (math 22% / reading 57%, grade F, #107 of 194 statewide, top 56%, 319 students, 33% FRL) — zoned schools average 25% FRL vs 9% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 54% at this address vs 70% district-wide (-16 pts) — the specific schools serving this property underperform the Salisbury School District average; the district grade overstates school quality for this exact location.
• Market conditions: 18 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• 3 sale attempts since 21y 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 $675k; list at $1.25M implies a 85% gain — meaningful room to come down on a strong offer.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $350k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$101k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1972 — 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.