7 Evergreen Ave · Middletown, CT 06457

$149,000

4 bd · 1.0 ba · 1,765 sqft · SingleFamily public records · 1 Days on market

Built 1900 7,405 sqft lot

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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
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity with great potential on a charming street. This property has been substantially gutted and requires a complete renovation, including plumbing, HVAC, windows, roof, and repairs related to a roof leak. The layout offers excellent possibilities, with an open floorplan- high ceilings on the first floor and area for a full bath or laundry, three to four bedrooms on second floor, and a walk-up attic that may offer additional living space. Ideal for investors, contractors, or experienced renovators looking for their next project. CASH SALE ONLY. Proof of funds required for all offers. Property is being sold strictly as-is with all contents inside. DUE TO THE CONDITION OF THE H

Key facts

• 7,405 sq ft lot
• Built 1900

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Gas in street (heat fuel)
• Home design: Single-family home
• Construction: Frame construction; Asbestos siding; Concrete and masonry foundation; Asphalt shingle roof
• Exterior features: Balcony; Covered deck; Level, cleared lot

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; No hot water
• Interior features: Open floor plan; Full unfinished basement with interior access, concrete floor, and full hatchway; Attic is floored with a walk-up
• Laundry & utility: Laundry room on the lower level

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $963 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $149k).
• Cap rate 14.0% vs local median 3.7% in Middletown — 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 81/100 on livability (#17 in CT, #1,390 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: commute F.
• Middletown School District (urban): math 24% / reading 44% proficiency, ranked #113 of 153 in CT (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 143 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).
• This rent runs 39% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $35k; list at $149k implies a 326% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $149,000

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 1.72% ✓
• Cap rate: 14.05%
• Cash-on-cash: 27.70%
• DSCR: 2.23
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $358,295
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
43 Silver St	0.09mi	3/3.0 (-1)	1,654 (-6%)	6mo	$370,000	$224	67
47 Silver St	0.08mi	4/2.0	1,995 (+13%)	4mo	$400,000	$201	67
30 Denison Rd	0.26mi	4/2.0	1,600 (-9%)	6mo	$415,000	$259	63
8 Macdonough Pl	0.60mi	3/1.5 (-1)	1,740 (-1%)	1mo	$384,000	$221	62
32 Burr Ave	0.61mi	4/2.0	1,854 (+5%)	1mo	$377,000	$203	59
171 Eastern Dr	0.27mi	3/1.5 (-1)	1,624 (-8%)	16mo	$341,000	$210	54
109 Warner Ave #109	0.47mi	3/2.5 (-1)	1,807 (+2%)	17mo	$340,000	$188	49
217 Ridge Rd	0.72mi	3/1.5 (-1)	1,887 (+7%)	2mo	$350,000	$185	46
4 Glynn Ave	0.73mi	3/1.5 (-1)	1,944 (+10%)	10mo	$314,000	$162	34
49 Andrew St	0.60mi	3/2.0 (-1)	1,526 (-14%)	14mo	$382,000	$250	29
100 Russell St	0.67mi	3/2.0 (-1)	1,607 (-9%)	19mo	$320,000	$199	29
187 Ridge Rd	0.65mi	3/2.0 (-1)	1,956 (+11%)	19mo	$350,000	$179	27

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

Projected returns pro-forma

-3.0% appreciation · 0.22% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 1.73×
• Total profit: $30,256
• Equity at exit: $22,216

10-year hold

• IRR: 24.9%
• Equity multiple: 2.88×
• Total profit: $78,432
• Equity at exit: $12,883

Cash invested: $41,720 (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 06457

• Rents YoY: 0.2%
• Active inventory: 143
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,569 high
• Mortgage (P&I): −$781
• Tax from tax record: −$223 /mo · $2,676/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $963

Break-even live

Break-even rent $1,350

Max offer price $149,000

Occupancy floor 58%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Wall St Unit 2 Middletown, CT	3.0	1.0	2081	$2,400	$1.15	43d	1	0.14mi
73 Silver St Middletown, CT	4.0	2.0	1322	$2,500	$1.89	23d	1	0.23mi
27 Woodside Cir Unit 37 Middletown, CT	3.0	2.0	1600	$2,300	$1.44	43d	1	0.66mi
177 Russell St Unit 2 Middletown, CT	3.0	3.0	2000	$2,200	$1.10	23d	1	0.79mi
505 Main St Middletown, CT	3.0	2.0	1263	$2,000	$1.58	1d	1	1.10mi
57 Ferry St Unit 1 Middletown, CT	3.0	1.5	1500	$2,000	$1.33	10d	1	1.11mi
200 Main St Unit 1 Portland, CT	3.0	2.0	1300	$2,227	$1.71	1d	1	1.50mi
200 Main St Unit 1 Portland, CT	3.0	2.0	1300	$2,227	$1.71	10d	1	1.50mi
103 Spring St Middletown, CT	4.0	1.0	1602	$2,500	$1.56	43d	1	1.50mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $149,000 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: $2,676 · $223/mo
• Projected year-2 tax: $2,932 · $244/mo
• Expected delta: +$256/yr (+$21/mo · 9.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°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: $30,826
• − Mortgage interest: −$8,346
• − Property taxes: −$2,676
• − Insurance: −$745
• − Repairs & maintenance: −$2,466
• − Management: −$2,466
• − Depreciation: −$4,335
• Taxable income: $9,792
• Est. tax owed @ 24.0%: −$2,350
• After-tax cash flow: $9,205/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: Middletown School District
• NCES district ID: 0902490
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $60,733
• Composite: 30.47/100
• National rank: #6224
• State rank: #113 of 153 in CT

Livability — Middletown

• Score: 81/100
• State rank: #17
• US rank: #1390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, CT
• County: Middlesex County · 63,941 people
• City population: 46,720
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 46,720
• Household income: $79,463
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 2196.0

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 13% Hispanic / Latino 12% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7%
• Common ancestry: Romanian 9% Lithuanian 5% Slovak 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -470.20%
• Current HPI: 255.1597
• Rent YoY: ▲ 0.22%
• 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

+325.7% since first listed

4 events — show timeline

• 2026-06-17 Listed $149,000 Smart MLS
• 2026-04-22 Listing Removed — Smart MLS
• 2026-03-30 Listed $149,500 Smart MLS
• 2003-01-02 Sold (Public Records) $35,000 Public Records

Property tax history

+0.3%/yr

Latest (2022): $2,676 · +0.5% YoY. Source: county tax records.