15-17 Laurel St · East Hartford, CT 06108

$230,000

6 bd · 2.0 ba · 2,528 sqft · MultiFamily public records · 14 Days on market

Built 1957 9,583 sqft lot Est $379k · 39% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

2 family property

Key facts

• 9,583 sq ft lot
• Built 1957
• Listed 14 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $965 ($12k/yr) — positive. Per door: $482/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Cap rate 11.3% vs local median 4.1% in East Hartford — 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 73/100 on livability (#76 in CT) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, commute A-; Watch: amenities F, health & safety F.
• East Hartford School District (urban): math 17% / reading 30% proficiency, ranked #140 of 153 in CT (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: East Hartford High School (math 11% / reading 33%, grade F, #156 of 194 statewide, top 82%, 1,698 students, 63% FRL).
• Market conditions: 53 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 $3,640/mo this rent would consume 77% of the median local household income ($57k/yr) (locally 1205% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1957 — 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 $230,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.58% ✓
• Cap rate: 11.33%
• Cash-on-cash: 17.98%
• DSCR: 1.80
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $379,200
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
506 Burnside Ave	0.37mi	6/2.5	2,544 (+1%)	7mo	$380,000	$149	74
61 Laurel St	0.11mi	6/3.0	2,280 (-10%)	3mo	$475,000	$208	72
307 Tolland St	0.20mi	6/3.0	2,666 (+6%)	10mo	$385,000	$144	69
116 Michael Ave	0.22mi	6/3.0	2,320 (-8%)	8mo	$410,000	$177	65
129 Tolland St	0.41mi	6/2.0	2,460 (-3%)	24mo	$370,000	$150	57
399 Tolland St	0.34mi	6/2.0	2,280 (-10%)	19mo	$325,000	$143	52
126 King St	0.72mi	5/2.0 (-1)	2,500 (-1%)	24mo	$375,000	$150	40
2-4 Holdstock Pl	0.67mi	5/2.0 (-1)	2,216 (-12%)	23mo	$375,000	$169	24

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.38×
• Total profit: $24,436
• Equity at exit: $34,294

10-year hold

• IRR: 18.8%
• Equity multiple: 2.58×
• Total profit: $101,434
• Equity at exit: $19,886

Cash invested: $64,400 (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 06108

• Home prices YoY: -17.6%
• Active inventory: 53
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,640 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$609 /mo · $7,305/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$764
• Net cashflow: $965

Break-even live

Break-even rent $2,419

Max offer price $230,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,095	-5% $1,030	+0% $965	+5% $900	+10% $835
Rent	-10% $677	-5% $821	+0% $965	+5% $1,109	+10% $1,252
Rate	-1.0pp $1,081	-0.5pp $1,023	base $965	+0.5pp $905	+1.0pp $845

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,640
Total (2 units)			$3,640

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1567 Main St East Hartford, CT	6.0	3.0	2910	$2,050	$0.70	44d	1	0.64mi

Listing history 2 events

1. 2026-01-31
   status Under Contract
2. 2026-01-13
   listed $230,000 Active

ⓘ 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: $7,305 · $609/mo
• Projected year-2 tax: $7,305 · $609/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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: $43,680
• − Mortgage interest: −$12,884
• − Property taxes: −$7,305
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,494
• − Management: −$3,494
• − Depreciation: −$6,691
• Taxable income: $8,662
• Est. tax owed @ 24.0%: −$2,079
• After-tax cash flow: $9,500/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: East Hartford School District
• NCES district ID: 0901260
• Math proficiency: 17% ▼ -5.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $49,691
• Composite: 20.74/100
• National rank: #8519
• State rank: #140 of 153 in CT

Livability — East Hartford

• Score: 73/100
• State rank: #76
• US rank: #5527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Hartford, CT
• County: Hartford County · 754,208 people
• City population: 50,918
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 23,499
• Household income: $56,663
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 1205.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 44% Black 26% White 23% Two or more races 18% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 28% Dominican 2% Salvadoran 1%
• Common ancestry: Romanian 4% Lithuanian 4% Estonian 2%
• Foreign-born: 22% · Canada, Jamaica, Vietnam
• Languages at home: 55% English-only · Spanish 35% Other Indo-European 3% French/Haitian/Cajun 2%

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: ▼ -65.15%
• Current HPI: 306.0426
• Rent YoY: —
• 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

2 events — show timeline

• 2026-01-31 Pending — Smart MLS
• 2026-01-13 Listed $230,000 Smart MLS

Property tax history

+2.6%/yr

Latest (2025): $7,305 · +4.3% YoY. Source: county tax records.