Fairfield City Connecticut CT

[Ray Tapay]

Hello CT BP members. Anyone really familiar with the rental properties scene in the City of Fairfield? My wife and I just went to see this property which if it worked out for a lesser price we would live in for a year or so then turn it into a rental. We listed down some cons that we came up with and I'm wondering whether these would be an issue for possible renters in this area.

Steep short driveway, no side walk on a semi-busy street, smaller living and dining area, listed as 3 bedrooms but actually looks like 2 and half bedrooms (doesn't look like it would work for a larger family), entrance to basement is outside.

Pros are interior is fully newly done, smaller yard and driveway so less work (landscape and snow removal) and the taxes are lower, close to the train station and stores.

Wondering whether I'm overthinking it or this is not how possible renters would view this as a possible home. Or why they would pick this over a condo.

https://www.zillow.com/homes/121-New-England-Avenue_rb/57296717_zpid/?

[Filipe Pereira]

I'm glad you and @Jaysen Medhurst have connected, @Ray Tapay. Jaysen is by far the most active southern CT member here on BP. I checked out the property you shared - can't believe the pricepoints down there, feels like an entirely different region, yet it's less than 3 hours from border to border! 

Jaysen is right that this won't cashflow all that well, but if you're in it for the equity/appreciation it could play out nicely. At that point though, you're more likely gambling than investing. Keep in mind the expenses renters don't face when considering price points of a condo vs a SFR, namely yard and snow maintenance. (Although y'all haven't seen all that much snow lately!)

Best of luck I'm glad you're finding the silver lining amidst covid, by spending more time with your daughter!