114-116 Mather St · Hartford, CT 06120

$369,999

12 bd · 6.0 ba · 6,467 sqft · MultiFamily · 39 Days on market

Built 1900 Poor condition 9,583 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
• Appreciation +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Schools +1.4/10.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Serious investor opportunity - major value-add project. 6-unit multifamily property offered strictly as-is. Building is currently uninhabitable and requires a full renovation. Significant structural, mechanical, and code-related work needed before occupancy. Not suitable for owner-occupants or light rehab. Experienced investors, contractors, or redevelopment groups only. Property generates no income in its current condition.

Key facts

• 9,583 sq ft lot
• Built 1900
• Listed 38 days

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $370k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $7k ($89k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $370k).
• Recommended offer: $359k (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 (+2.8%/yr); 21 active listings in the ZIP; lower-income renter base — watch delinquency; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $12,662/mo this rent would consume 436% of the median local household income ($35k/yr) (locally 1435% 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 $29k of equity ($3k loan paydown + $26k appreciation (7.1% local appreciation)).
• At projected returns (7.1% appreciation + 2.8% rent growth), your $104k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($359k) is reasonable based on typical stale-listing flexibility.

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 $358,899 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1900 — 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: 3.42% ✓
• Cap rate: 30.44%
• Cash-on-cash: 86.25%
• DSCR: 4.84
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.12% appreciation · 2.83% rent growth · sell at horizon

5-year hold

• IRR: 93.3%
• Equity multiple: 6.83×
• Total profit: $604,113
• Equity at exit: $259,211

10-year hold

• IRR: 90.2%
• Equity multiple: 14.48×
• Total profit: $1,396,812
• Equity at exit: $494,952

Cash invested: $103,600 (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 06120

• Home prices YoY: 2.4%
• Rents YoY: 2.8%
• Active inventory: 21
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $12,662 high
• Mortgage (P&I): −$1,940
• Tax est. 1.5%: −$462 /mo · $5,550/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,659
• Net cashflow: $7,446

Break-even live

Break-even rent $3,237

Max offer price $369,999

Occupancy floor 36%

Sensitivity live

Price	-10% $7,702	-5% $7,574	+0% $7,446	+5% $7,318	+10% $7,190
Rent	-10% $6,446	-5% $6,946	+0% $7,446	+5% $7,946	+10% $8,446
Rate	-1.0pp $7,632	-0.5pp $7,540	base $7,446	+0.5pp $7,350	+1.0pp $7,253

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$12,660
Total (6 units)			$12,662

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-04-17
   listed $369,999 Active 429-char remark

   Show marketing remark (429 chars)

   Serious investor opportunity - major value-add project. 6-unit multifamily property offered strictly as-is. Building is currently uninhabitable and requires a full renovation. Significant structural, mechanical, and code-related work needed before occupancy. Not suitable for owner-occupants or light rehab. Experienced investors, contractors, or redevelopment groups only. Property generates no income in its current condition.

ⓘ 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: $151,944
• − Mortgage interest: −$20,726
• − Property taxes: −$5,550
• − Insurance: −$1,850
• − Repairs & maintenance: −$12,156
• − Management: −$12,156
• − Depreciation: −$10,764
• Taxable income: $88,744
• Est. tax owed @ 24.0%: −$21,298
• After-tax cash flow: $68,054/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 · 10 photos

Poor 20/100 Extensive rehab

This 6-unit multifamily property requires extensive renovation and is currently uninhabitable. Significant structural, mechanical, and code-related work is needed before occupancy. Experienced investors, contractors, or redevelopment groups only.

Repairs flagged

• Major Exterior siding — Peeling and damaged
• Major Windows — Boarded up
• Major Interior walls — Bare and in need of repair
• Major Flooring — Dirty and worn
• Major Systems — Likely all systems are in poor condition and need replacement
• Major Landscaping — Likely in poor condition and needs improvement

Value-add opportunities

• Both Exterior renovation — Improves curb appeal and overall property value
• Both Interior renovation — Enhances living space and increases rental value
• Both Landscaping and curb appeal — Enhances property's visual appeal and increases resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Peeling and damaged	Major	$15,000–50,000
Windows · Boarded up	Major	$15,000–50,000
Interior walls · Bare and in need of repair	Major	$15,000–50,000
Flooring · Dirty and worn	Major	$15,000–50,000
Systems · Likely all systems are in poor condition and need replacement	Major	$15,000–50,000
Landscaping · Likely in poor condition and needs improvement	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Exterior renovation — Improves curb appeal and overall property value ↑
• Both Interior renovation — Enhances living space and increases rental value ↑
• Both Landscaping and curb appeal — Enhances property's visual appeal and increases resale value ↑

ⓘ 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): 13,926
• Household income: $34,830
• Rent vs Own: 87.2% rent · 12.8% own
• Severe rent burden: 1435.0

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 46% Black 46% Two or more races 21% White 3%
• Hispanic origin (detail): Puerto Rican 37% Dominican 1%
• Common ancestry: Estonian 1% Portuguese 1%
• Foreign-born: 14% · Canada
• Languages at home: 61% English-only · Spanish 36% Other Indo-European 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: ▲ 7.12%
• Current HPI: 307.6427
• Rent YoY: ▲ 2.83%
• 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

• 2026-04-17 Listed $369,999 Smart MLS