186 Alexander Rd · New Britain, CT 06053

$249,999

3 bd · 1.0 ba · 1,192 sqft · SingleFamily public records · 5 Days on market

Built 1952 6,098 sqft lot $210/sqft · 14% below area Est $291k · 14% under

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Why this score? — see what drove the C 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 +13.8/30.0
• ARV discount +13.8/15.0
• Appreciation +10.0/10.0
• 1% rule +4.3/10.0
• DSCR +4.2/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks

Investors, take notice. This 4-bedroom, 1-bath home is ready for your vision and transformation. A brand-new roof is already in place, giving you a strong head start on your project. The property features hardwood floors, a partially finished basement, and a large backyard deck that's perfect for entertaining or relaxing. Conveniently located near parks, schools, and the Farmington line, it offers both accessibility and appeal for future occupants. This is a great opportunity for investors looking for their next project. Schedule a showing today before it's gone. HIGHEST AND BEST OFFERS FRIDAY 05/01 8PM.

Key facts

• Brand-new roof
• Hardwood floors
• Large backyard deck

Tags

• BRAND-NEW ROOF
• HARDWOOD FLOORS
• PARTIALLY FINISHED BASEMENT
• LARGE BACKYARD DECK

Property features AI

Exterior

• Parking: Two parking spaces; Driveway parking
• Utilities: Public water connected; Public sewer connected; Natural gas hot water (40 gallon tank)
• Home design: Single-family home
• Construction: Frame construction; Concrete foundation
• Exterior features: Clapboard siding; Shingle roof; Paved driveway; Off-street paved parking

Interior

• Kitchen: Gas range; Microwave
• Bedrooms: Four bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Hot air heating; Natural gas heat
• Interior features: Seven total rooms; Full basement
• Laundry & utility: Washer and dryer in basement (lower level)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $25 ($300/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (6.6% below list).
• Recommended offer: $233k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.2% 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: Holmes Elementary School (math 11% / reading 23%, grade F, #459 of 553 statewide, top 84%, 460 students, 65% FRL); Pulaski Middle School (math 0% / reading 13%, grade F, #171 of 175 statewide, top 98%, 867 students, 80% FRL); New Britain High School (math 10% / reading 31%, grade F, #162 of 194 statewide, top 83%, 2,331 students, 71% FRL) — zoned schools at 72% FRL track the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 71 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• This rent runs 45% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 4.9% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $233,387 (6.6% below list)

Questions for the listing agent

1. Built in 1952 — 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 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: 0.93% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.43%
• DSCR: 1.02
• GRM: 8.9

CMA / ARV

• ARV (median comp): $290,542
• List price: $249,999
• Delta: -13.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
186 Alexander Rd	0.00mi	4/1.0 (+1)	1,192 (0%)	1mo	$250,000	$210	94
55 Alexander Rd	0.25mi	3/1.0	1,080 (-9%)	4mo	$254,900	$236	70
123 Country Club Rd	0.15mi	4/1.0 (+1)	1,080 (-9%)	4mo	$310,000	$287	69
57 Merigold Dr	0.17mi	4/2.0 (+1)	1,296 (+9%)	2mo	$385,000	$297	67
123 Merigold Dr	0.29mi	4/2.0 (+1)	1,230 (+3%)	8mo	$305,000	$248	66
119 Country Club Rd	0.16mi	2/1.5 (-1)	1,080 (-9%)	9mo	$290,000	$269	63
44 Nachilly Dr	0.24mi	3/1.0	1,014 (-15%)	5mo	$298,000	$294	60
2337 Stanley St	0.39mi	2/1.5 (-1)	1,288 (+8%)	8mo	$325,000	$252	54
187 Miriam Rd	0.40mi	3/1.0	1,352 (+13%)	6mo	$220,000	$163	54
910 Farmington Ave	0.71mi	3/2.0	1,244 (+4%)	6mo	$327,000	$263	51
2268 Stanley St	0.35mi	2/1.0 (-1)	1,014 (-15%)	9mo	$282,000	$278	47
23 Lewis Rd	0.63mi	4/2.0 (+1)	1,306 (+10%)	2mo	$339,900	$260	44

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 · 4.94% rent growth · sell at horizon

5-year hold

• IRR: 25.3%
• Equity multiple: 3.04×
• Total profit: $142,482
• Equity at exit: $225,219

10-year hold

• IRR: 22.8%
• Equity multiple: 7.12×
• Total profit: $428,711
• Equity at exit: $485,693

Cash invested: $70,000 (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 06053

• Home prices YoY: 15.4%
• Rents YoY: 4.9%
• Active inventory: 71
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,334 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$404 /mo · $4,843/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $25

Break-even live

Break-even rent $2,302

Max offer price $249,999

Occupancy floor 94%

Sensitivity live

Price	-10% $167	-5% $96	+0% $25	+5% $-46	+10% $-117
Rent	-10% $-159	-5% $-67	+0% $25	+5% $117	+10% $209
Rate	-1.0pp $151	-0.5pp $89	base $25	+0.5pp $-40	+1.0pp $-106

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
46 Brittany Farms Rd New Britain, CT	1.0–2.0	1.0	820	$2,025	$2.47	3d	1	0.68mi
80 Batterson Park Rd Farmington, CT	2.0	1.0–2.0	900	$4,793	$5.32	3d	98	0.83mi
15 Farm Springs Rd Farmington, CT	2.0	2.0	864	$3,599	$4.16	3d	18	1.12mi
441 Farmington Ave New Britain, CT	2.0	1.0	1295	$2,600	$2.01	45d	1	1.23mi
1600 New Britain Ave Farmington, CT	1.0–2.0	1.0–1.5	1112	$2,595	$2.33	3d	1	1.36mi
125 Overlook Ave Unit 2nd Floor New Britain, CT	3.0	1.0	1166	$2,000	$1.72	5d	1	1.43mi
87 Jackson St New Britain, CT	2.0	1.0	800	$1,700	$2.12	45d	1	1.45mi

Listing history 2 events

1. 2026-05-02
   status Under Contract 611-char remark
2. 2026-04-27
   listed $249,999 Active 611-char remark

ⓘ 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: $4,843 · $404/mo
• Projected year-2 tax: $5,096 · $425/mo
• Expected delta: +$253/yr (+$21/mo · 5.2%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,006
• − Mortgage interest: −$14,004
• − Property taxes: −$4,843
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,241
• − Management: −$2,241
• − Depreciation: −$7,273
• Taxable loss: −$3,844
• Est. tax savings @ 24.0%: +$923
• After-tax cash flow: $1,222/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): 36,774
• Household income: $62,645
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 1835.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 36% Two or more races 13% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 25% Dominican 4%
• Common ancestry: Romanian 19% Lithuanian 3% Russian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 50% English-only · Spanish 26% Russian/Polish/Slavic 15% French/Haitian/Cajun 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: ▲ 65.76%
• Current HPI: 491.4724
• Rent YoY: ▲ 4.94%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-28 Sold (MLS) $250,000 Smart MLS
• 2026-05-02 Pending — Smart MLS
• 2026-04-27 Listed $249,999 Smart MLS

Property tax history

+2.6%/yr

Latest (2025): $4,843 · +2.3% YoY. Source: county tax records.