147 Jubilee St · New Britain, CT 06051

$349,000

6 bd · 2.0 ba · 2,216 sqft · MultiFamily public records · 16 Days on market

Built 1880 10,454 sqft lot Est $381k · 8% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.3/30.0
• ARV discount +11.3/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Huge 2 family 6 bedrooms with 3 bay detached barn. New roof, new windows, 2 new gas furnaces, and new hot water heater. Electrical and plumbing upgrades. Price to sell! Easy to show!

Key facts

• Two legal apartments
• Full basement
• 0.24 acre lot

Tags

• TWO LEGAL APARTMENTS
• FULL BASEMENT
• THREE SEPARATE STORAGE ROOMS
• TWO STORY THREE BAY GARAGE
• FULLY EQUIPPED GYM SPACE

Property features AI

Exterior

• Parking: Detached garage; Driveway (private, paved, asphalt); Paved parking; 8 total parking spaces; 1 garage
• Utilities: Public water connected; Public sewer connected; Natural gas
• Home design: Multi-family (2‑family) property
• Construction: Brick and concrete construction; Slab and stone foundation; Asphalt shingle roof
• Exterior features: City views; Aluminum siding

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating; Radiant heating; Natural gas heating
• Interior features: Ceiling fans; Window air conditioning units; Full, unfinished basement with storage; Attic with storage, partially finished area and walk-up access; 9 total rooms; Multi-family property with 2 units (9 total rooms)
• Laundry & utility: Common laundry area; Hot water provided by 65‑ and 80‑gallon tanks

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $349k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $349k).
• Recommended offer: $344k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 4.4% in New Britain — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#67 in CT, #4,936 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: crime D, employment D.
• New Britain School District (suburban): math 6% / reading 17% proficiency, ranked #153 of 153 in CT (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: New Britain High School (math 10% / reading 31%, grade F, #162 of 194 statewide, top 83%, 2,331 students, 71% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: Rents soft (-0.6%/yr); 63 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $4,586/mo this rent would consume 108% of the median local household income ($51k/yr) (locally 2100% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $98k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $121k; list at $349k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $343,765 (1.5% below list)

Questions for the listing agent

1. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.31% ✓
• Cap rate: 10.15%
• Cash-on-cash: 13.76%
• DSCR: 1.61
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $381,152
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 Belden St	0.16mi	6/2.0	2,326 (+5%)	15mo	$700,000	$301	72
267 Chapman St	0.11mi	5/3.0 (-1)	2,318 (+5%)	8mo	$360,000	$155	72
241 Belden St	0.21mi	6/2.0	2,332 (+5%)	13mo	$436,000	$187	71
62 Belden St	0.21mi	6/2.0	2,124 (-4%)	15mo	$395,000	$186	71
11 Dwight Ct	0.51mi	6/3.0	2,210 (-0%)	3mo	$290,000	$131	69
237 Belden St	0.20mi	6/2.0	2,332 (+5%)	18mo	$400,000	$172	67
408 East St	0.43mi	6/4.0	2,231 (+1%)	9mo	$440,000	$197	63
106 Judd Ave	0.49mi	6/2.0	2,184 (-1%)	14mo	$225,000	$103	63
144 Dwight St	0.36mi	6/3.0	2,033 (-8%)	5mo	$340,000	$167	61
23 Edward St	0.40mi	6/3.0	2,482 (+12%)	4mo	$360,000	$145	54
163 Fairview St	0.46mi	6/2.5	2,480 (+12%)	10mo	$400,000	$161	48
5 Whitman St	0.44mi	6/2.0	2,540 (+15%)	10mo	$452,000	$178	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 33.0%
• Equity multiple: 3.54×
• Total profit: $248,140
• Equity at exit: $314,407

10-year hold

• IRR: 27.5%
• Equity multiple: 7.66×
• Total profit: $650,783
• Equity at exit: $678,030

Cash invested: $97,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Connecticut: 27 Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Strong tenant statutes; rent commissions in some towns; courts slow especially in cities.

Methodology + full state rankings →

ZIP-level market 06051

• Home prices YoY: 9.0%
• Rents YoY: -0.6%
• Active inventory: 63
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $4,586 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$527 /mo · $6,319/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$963
• Net cashflow: $1,121

Break-even live

Break-even rent $3,167

Max offer price $349,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,318	-5% $1,220	+0% $1,121	+5% $1,022	+10% $923
Rent	-10% $758	-5% $940	+0% $1,121	+5% $1,302	+10% $1,483
Rate	-1.0pp $1,297	-0.5pp $1,210	base $1,121	+0.5pp $1,030	+1.0pp $938

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,587
Total (3 units)			$4,586

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Union St New Britain, CT	5.0	2.0	2060	$2,800	$1.36	24d	1	0.95mi

Listing history 13 events

1. 2026-06-18
   days on market $349,000 Active 16 DOM
2. 2026-06-17
   days on market $349,000 Active 15 DOM
3. 2026-06-16
   days on market $349,000 Active 14 DOM
4. 2026-06-15
   days on market $349,000 Active 13 DOM
5. 2026-06-13
   days on market $349,000 Active 11 DOM
6. 2026-06-13
   days on market $349,000 Active 10 DOM
7. 2026-06-10
   days on market $349,000 Active 8 DOM
8. 2026-06-09
   days on market $349,000 Active 7 DOM
9. 2026-06-08
   days on market $349,000 Active 6 DOM
10. 2026-06-07
    days on market $349,000 Active 5 DOM
11. 2026-06-05
    days on market $349,000 Active 2 DOM
12. 2026-06-02
    remarks 699-char remark
13. 2026-06-02
    listed $349,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CT · Partial reset (capped growth)

• Current annual tax: $6,319 · $527/mo
• Projected year-2 tax: $6,894 · $574/mo
• Expected delta: +$575/yr (+$48/mo · 9.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $55,032
• − Mortgage interest: −$19,549
• − Property taxes: −$6,319
• − Insurance: −$1,745
• − Repairs & maintenance: −$4,403
• − Management: −$4,403
• − Depreciation: −$10,153
• Taxable income: $8,461
• Est. tax owed @ 24.0%: −$2,031
• After-tax cash flow: $11,418/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: New Britain School District
• NCES district ID: 0902670
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $40,827
• Composite: 9.95/100
• National rank: #9816
• State rank: #153 of 153 in CT

Livability — New Britain

• Score: 74/100
• State rank: #67
• US rank: #4936

Category grades

Amenities C Commute B Cost of living A Crime D Employment D Housing A Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Britain, CT
• County: Hartford County · 754,208 people
• City population: 66,322
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 29,548
• Household income: $51,022
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 2100.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 30% Two or more races 17% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 40% Dominican 4%
• Common ancestry: Romanian 7% Lithuanian 6% Slovak 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 39% Russian/Polish/Slavic 6% Arabic 3%

Political lean MEDSL · Capitol

• 2024 margin: Strong D (+21.9) · D 60.1% · R 38.2% · Other 1.7%
• All cycles: 2024: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 31.52%
• Current HPI: 382.7816
• Rent YoY: ▼ -0.58%
• Metro: Hartford-East Hartford-Middletown, CT
• State GDP YoY: ▲ 1.06%
• F500 in state: 38

Industry mix (Fortune 500 HQ in CT)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$38B
▸Insurance	3	$71B
▸Financial Services	2	$25B
▸Transportation / Logistics	2	$18B
▸Healthcare	1	$247B
▸Telecommunications	1	$55B

Price history

+203.5% since first listed

4 events — show timeline

• 2026-06-02 Listed $349,000 Smart MLS
• 2015-07-02 Sold (Public Records) $121,000 Public Records
• 2015-06-25 Sold (MLS) $121,000 Smart MLS
• 2015-04-10 Listed $115,000 Smart MLS

Property tax history

+3.0%/yr

Latest (2025): $6,319 · -1.0% YoY. Source: county tax records.