154 Babcock St · Hartford, CT 06106

$299,000

9 bd · 3.0 ba · 3,741 sqft · MultiFamily · 56 Days on market

Built 1880 Fair condition 6,534 sqft lot $80/sqft · 58% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Three-family opportunity in a convenient Hartford location! This property features three spacious units, each offering comfortable layouts with generous living areas, eat-in kitchens, and ample natural light throughout. Ideal for both owner-occupants and investors, the property provides strong income potential with separate utilities and off-street parking. Situated close to shopping, dining, public transportation, and major highways, this is a prime addition to any real estate portfolio or a great opportunity to live in one unit while collecting rental income from the others. Don't miss out on this versatile multi-family property! PROPERTY IS BEING SOLD AS-IS AND IS SUBJECT TO SHORT SALE A

Key facts

• Ample natural light
• Eat in kitchens
• Spacious units

Tags

• WELL MAINTAINED PROPERTY
• SPACIOUS UNITS
• GENEROUS LIVING AREAS
• EAT IN KITCHENS
• AMPLE NATURAL LIGHT
• STRONG INCOME POTENTIAL

Property features AI

Finance

• Financial info: Assessed value listed

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas hot water
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Built area approximately 3,246 sq ft
• Exterior features: Level lot; Brick exterior siding

Interior

• Bedrooms: 9 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot water heat; Natural gas fuel for heat and hot water
• Interior features: 15 total rooms; Full unfinished basement; 2 fireplaces

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $299k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $299k).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#58 in CT, #3,553 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D-, crime F, employment F.
• Hartford School District (urban): math 13% / reading 21% proficiency, ranked #150 of 153 in CT (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 62 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $6,614/mo this rent would consume 171% of the median local household income ($46k/yr) (locally 3400% 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 $6k of equity ($2k loan paydown + $4k appreciation (1.4% local appreciation)).
• At projected returns (1.4% appreciation + 2.4% rent growth), your $84k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F 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?
9. 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.
10. 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.
11. 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: 2.21% ✓
• Cap rate: 18.97%
• Cash-on-cash: 45.28%
• DSCR: 3.01
• GRM: 3.8

CMA / ARV

• ARV (median comp): $716,974
• List price: $299,000
• Delta: -58.30%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

1.38% appreciation · 2.37% rent growth · sell at horizon

5-year hold

• IRR: 47.8%
• Equity multiple: 3.49×
• Total profit: $208,236
• Equity at exit: $107,956

10-year hold

• IRR: 48.8%
• Equity multiple: 6.82×
• Total profit: $486,971
• Equity at exit: $148,128

Cash invested: $83,720 (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 06106

• Home prices YoY: 0.4%
• Rents YoY: 2.4%
• Active inventory: 62
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $6,614 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,389
• Net cashflow: $3,159

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 47%

Sensitivity live

Price	-10% $3,365	-5% $3,262	+0% $3,159	+5% $3,055	+10% $2,952
Rent	-10% $2,636	-5% $2,897	+0% $3,159	+5% $3,420	+10% $3,681
Rate	-1.0pp $3,309	-0.5pp $3,235	base $3,159	+0.5pp $3,081	+1.0pp $3,002

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,615
Total (3 units)			$6,614

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $299,000 Active 56 DOM
2. 2026-06-17
   days on market $299,000 Active 55 DOM
3. 2026-06-16
   days on market $299,000 Active 54 DOM
4. 2026-06-15
   days on market $299,000 Active 53 DOM
5. 2026-06-13
   days on market $299,000 Active 51 DOM
6. 2026-06-13
   days on market $299,000 Active 50 DOM
7. 2026-06-10
   days on market $299,000 Active 48 DOM
8. 2026-06-09
   days on market $299,000 Active 47 DOM
9. 2026-06-08
   days on market $299,000 Active 46 DOM
10. 2026-06-07
    days on market $299,000 Active 45 DOM
11. 2026-06-05
    days on market $299,000 Active 42 DOM
12. 2026-06-03
    days on market $299,000 Active 41 DOM
13. 2026-06-02
    days on market $299,000 Active 40 DOM
14. 2026-06-01
    days on market $299,000 Active 39 DOM
15. 2026-05-31
    days on market $299,000 Active 38 DOM
16. 2026-04-23
    listed $299,000 Active 707-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $79,368
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$6,349
• − Management: −$6,349
• − Depreciation: −$8,698
• Taxable income: $35,242
• Est. tax owed @ 24.0%: −$8,458
• After-tax cash flow: $29,447/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This three-family property requires moderate renovations, including painting, flooring, and landscaping, to improve its condition and increase its resale and rental value.

Repairs flagged

• Major Kitchen cabinets — Dirty and in need of cleaning and possibly replacement.
• Major Bathroom walls and floors — Severe damage and peeling paint, requiring full renovation.
• Major Flooring — Worn and in need of replacement to improve appearance and functionality.
• Major Paint — Peeling and uneven, requiring full repainting for a fresh look.
• Major Landscaping — Overgrown and in need of trimming and planting to improve curb appeal.
• Minor Windows — Functional but may benefit from new hardware for a fresh look.

Value-add opportunities

• Both Painting and cleaning — Fresh paint and cleaning will improve the home's appearance and appeal to potential buyers/renters.
• Both New flooring — New flooring will improve the home's appearance and functionality, making it more attractive to potential buyers/renters.
• Both Landscaping — A well-maintained landscape will improve the home's curb appeal and attract more potential buyers/renters.
• Both HVAC system maintenance — A clean and functioning HVAC system will improve the home's comfort and attract more potential buyers/renters.
• Both Roof inspection — A thorough inspection will ensure the roof is in good condition and address any potential issues before they become major problems.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Dirty and in need of cleaning and possibly replacement.	Major	$15,000–50,000
Bathroom walls and floors · Severe damage and peeling paint, requiring full renovation.	Major	$15,000–50,000
Flooring · Worn and in need of replacement to improve appearance and functionality.	Major	$15,000–50,000
Paint · Peeling and uneven, requiring full repainting for a fresh look.	Major	$15,000–50,000
Landscaping · Overgrown and in need of trimming and planting to improve curb appeal.	Major	$15,000–50,000
Windows · Functional but may benefit from new hardware for a fresh look.	Minor	$500–3,000
Total estimated repair cost · 6 items		$75,500–253,000

Value-add ROI direction

• Both Painting and cleaning — Fresh paint and cleaning will improve the home's appearance and appeal to potential buyers/renters. ↑
• Both New flooring — New flooring will improve the home's appearance and functionality, making it more attractive to potential buyers/renters. ↑
• Both Landscaping — A well-maintained landscape will improve the home's curb appeal and attract more potential buyers/renters. ↑
• Both HVAC system maintenance — A clean and functioning HVAC system will improve the home's comfort and attract more potential buyers/renters. ↑
• Both Roof inspection — A thorough inspection will ensure the roof is in good condition and address any potential issues before they become major problems. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hartford School District
• NCES district ID: 0901920
• Math proficiency: 13% ▼ -5.00%
• Reading proficiency: 21% ▼ -6.00%
• Median HH income: $30,521
• Composite: 13.54/100
• National rank: #9514
• State rank: #150 of 153 in CT

Livability — Hartford

• Score: 76/100
• State rank: #58
• US rank: #3553

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartford, CT
• County: Hartford County · 754,208 people
• City population: 121,162
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 36,322
• Household income: $46,304
• Rent vs Own: 76.7% rent · 23.3% own
• Severe rent burden: 3400.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 25% Black 18% White 15% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 42% Dominican 6%
• Common ancestry: Lithuanian 2% Russian 1% Romanian 1%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 46% English-only · Spanish 47% Other Indo-European 3% Other Asian/Pacific 1%

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: ▲ 1.38%
• Current HPI: 314.0899
• Rent YoY: ▲ 2.37%
• 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

1 event — show timeline

• 2026-04-23 Listed $299,000 Smart MLS