24 Merrill St Apt D1 · Hartford, CT 06106

$114,900

2 bd · 1.0 ba · 853 sqft · Condo public records · 70 Days on market

Built 1965 $339/mo HOA · 17% of rent

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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 +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Welcome to 24 Merrill St Unit D1, a well-maintained 2-bedroom, 1-bath condo offering comfortable and convenient living in Hartford. This unit features a functional layout with spacious living areas, ample natural light, and generously sized bedrooms. Ideally located just minutes from Elizabeth Park, Westfarms Mall, and Dunkin' Park, providing easy access to shopping, dining, and entertainment. Whether you're an owner-occupant or investor, this property presents a great opportunity in a central location.

Key facts

• Ample natural light
• Central location
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREAS
• AMPLE NATURAL LIGHT
• GENEROUSLY SIZED BEDROOMS
• CENTRAL LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% 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; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $1,988/mo this rent would consume 52% 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 $2k of equity ($794 loan paydown + $2k appreciation (1.4% local appreciation)).
• At projected returns (1.4% appreciation + 2.4% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago 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 $76k; list at $115k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $108,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.73% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.58%
• DSCR: 1.78
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 19.9%
• Equity multiple: 2.03×
• Total profit: $33,265
• Equity at exit: $41,485

10-year hold

• IRR: 22.3%
• Equity multiple: 3.73×
• Total profit: $87,675
• Equity at exit: $56,923

Cash invested: $32,172 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,988 high
• Mortgage (P&I): −$603
• Tax from tax record: −$110 /mo · $1,315/yr
• Insurance: −$48
• HOA: −$339
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $471

Break-even live

Break-even rent $1,391

Max offer price $114,900

Occupancy floor 71%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
43 Caya Ave West Hartford, CT	1.0–2.0	1.0	775	$1,859	$2.40	11d	6	0.20mi
109 Caya Ave West Hartford, CT	2.0	1.5	1078	$2,600	$2.41	3d	1	0.32mi
90 Kane St Unit A4 West Hartford, CT	1.0	1.0	750	$1,600	$2.13	43d	1	0.37mi
140 Kane St Unit C1 West Hartford, CT	2.0	2.0	1062	$1,900	$1.79	2d	1	0.42mi
106 Kane St West Hartford, CT	1.0–2.0	1.0–2.0	966	$2,300	$2.38	2d	18	0.43mi
136 Kane St Unit C5 West Hartford, CT	1.0	1.0	750	$1,700	$2.27	15d	1	0.47mi
102 Oakwood Ave West Hartford, CT	1.0	1.0	772	$1,500	$1.94	43d	1	0.57mi
1 Park Rd West Hartford, CT	2.0	1.0–2.0	913	$3,647	$3.99	3d	18	0.59mi
29 Crosby St West Hartford, CT	2.0	1.0	1100	$1,950	$1.77	43d	1	0.66mi
387 Quaker Ln S West Hartford, CT	2.0	1.0	1050	$2,400	$2.29	43d	1	0.83mi
48 Elm Dr West Hartford, CT	2.0	1.5	966	$2,600	$2.69	15d	1	0.98mi
366 Park Rd Unit C3 West Hartford, CT	1.0	1.0	750	$1,495	$1.99	3d	1	1.01mi
711 Farmington Ave West Hartford, CT	1.0–2.0	1.0–1.5	975	$1,950	$2.00	23d	4	1.22mi
14 Hillcrest Ave Unit 14 B West Hartford, CT	2.0	1.0	838	$1,800	$2.15	43d	1	1.24mi
3 Arnoldale Rd West Hartford, CT	1.0–3.0	1.0	1050	$2,390	$2.28	10d	4	1.25mi
26 Schoolhouse Dr #204 West Hartford, CT	2.0	1.0	865	$2,800	$3.24	44d	1	1.29mi
800 Farmington Ave Unit 5 West Hartford, CT	1.0	1.0	950	$1,800	$1.89	43d	1	1.39mi
843 Farmington Ave West Hartford, CT	1.0–2.0	1.0	842	$2,000	$2.38	1d	8	1.44mi
843 Farmington Ave Unit 839-C2 West Hartford, CT	1.0	1.0	750	$1,731	$2.31	43d	1	1.44mi
843 Farmington Ave Unit 771-15 West Hartford, CT	2.0	1.0	934	$1,807	$1.93	43d	1	1.44mi
843 Farmington Ave Unit 839-C4 West Hartford, CT	2.0	1.0	850	$1,974	$2.32	43d	1	1.44mi
843 Farmington Ave Unit 773-A2 West Hartford, CT	2.0	1.0	987	$1,988	$2.01	43d	1	1.44mi
843 Farmington Ave Unit 577-11 West Hartford, CT	1.0	1.0	580	$1,562	$2.69	23d	1	1.44mi
20 Outlook Ave West Hartford, CT	1.0–2.0	1.0	1118	$3,000	$2.68	23d	2	1.48mi
124 Mayflower St West Hartford, CT	3.0	1.0	843	$2,650	$3.14	43d	1	1.49mi
124 Mayflower St West Hartford, CT	3.0	1.0	1025	$2,650	$2.59	23d	1	1.49mi

HOA detail condo

• Monthly dues: $339 · $4,068/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-05-06
   price $114,900 508-char remark

   Show marketing remark (508 chars)

   Welcome to 24 Merrill St Unit D1, a well-maintained 2-bedroom, 1-bath condo offering comfortable and convenient living in Hartford. This unit features a functional layout with spacious living areas, ample natural light, and generously sized bedrooms. Ideally located just minutes from Elizabeth Park, Westfarms Mall, and Dunkin' Park, providing easy access to shopping, dining, and entertainment. Whether you're an owner-occupant or investor, this property presents a great opportunity in a central location.

2. 2026-03-20
   listed $119,900 Active 508-char remark

   Show marketing remark (508 chars)

   Welcome to 24 Merrill St Unit D1, a well-maintained 2-bedroom, 1-bath condo offering comfortable and convenient living in Hartford. This unit features a functional layout with spacious living areas, ample natural light, and generously sized bedrooms. Ideally located just minutes from Elizabeth Park, Westfarms Mall, and Dunkin' Park, providing easy access to shopping, dining, and entertainment. Whether you're an owner-occupant or investor, this property presents a great opportunity in a central location.

3. 2023-09-25
   soldstatus $76,000
4. 2023-09-22
   soldstatus $76,000 Closed 433-char remark

   Show marketing remark (433 chars)

   Extremely spacious, ground level 2 bedroom/1 bath condo. The unit has many recent upgrades including fire rated doors, updated electrical, newer hot water heater, luxury-laminate flooring, new light fixtures, new doors, walls, ceiling and so much more. Low HOA fees, paved, assigned parking, on site laundry, proximity to public transportation, shopping, and so much more. Renting allowed. THIS IS A CASH OR HARD MONEY PURCHASE ONLY.

5. 2023-08-21
   status Under Contract 433-char remark

   Show marketing remark (433 chars)

   Extremely spacious, ground level 2 bedroom/1 bath condo. The unit has many recent upgrades including fire rated doors, updated electrical, newer hot water heater, luxury-laminate flooring, new light fixtures, new doors, walls, ceiling and so much more. Low HOA fees, paved, assigned parking, on site laundry, proximity to public transportation, shopping, and so much more. Renting allowed. THIS IS A CASH OR HARD MONEY PURCHASE ONLY.

6. 2023-08-14
   price $74,000 433-char remark

   Show marketing remark (433 chars)

   Extremely spacious, ground level 2 bedroom/1 bath condo. The unit has many recent upgrades including fire rated doors, updated electrical, newer hot water heater, luxury-laminate flooring, new light fixtures, new doors, walls, ceiling and so much more. Low HOA fees, paved, assigned parking, on site laundry, proximity to public transportation, shopping, and so much more. Renting allowed. THIS IS A CASH OR HARD MONEY PURCHASE ONLY.

7. 2023-08-14
   status Active 433-char remark

   Show marketing remark (433 chars)

   Extremely spacious, ground level 2 bedroom/1 bath condo. The unit has many recent upgrades including fire rated doors, updated electrical, newer hot water heater, luxury-laminate flooring, new light fixtures, new doors, walls, ceiling and so much more. Low HOA fees, paved, assigned parking, on site laundry, proximity to public transportation, shopping, and so much more. Renting allowed. THIS IS A CASH OR HARD MONEY PURCHASE ONLY.

8. 2023-06-26
   historical Under Contract - Continue to Show 433-char remark

   Show marketing remark (433 chars)

   Extremely spacious, ground level 2 bedroom/1 bath condo. The unit has many recent upgrades including fire rated doors, updated electrical, newer hot water heater, luxury-laminate flooring, new light fixtures, new doors, walls, ceiling and so much more. Low HOA fees, paved, assigned parking, on site laundry, proximity to public transportation, shopping, and so much more. Renting allowed. THIS IS A CASH OR HARD MONEY PURCHASE ONLY.

9. 2023-06-09
   listed $94,000 Active 433-char remark

   Show marketing remark (433 chars)

   Extremely spacious, ground level 2 bedroom/1 bath condo. The unit has many recent upgrades including fire rated doors, updated electrical, newer hot water heater, luxury-laminate flooring, new light fixtures, new doors, walls, ceiling and so much more. Low HOA fees, paved, assigned parking, on site laundry, proximity to public transportation, shopping, and so much more. Renting allowed. THIS IS A CASH OR HARD MONEY PURCHASE ONLY.

10. 2021-04-14
    soldstatus $54,000
11. 2021-04-09
    soldstatus $54,000 Closed
12. 2021-03-11
    listed $50,000 Active
13. 2020-11-10
    historical
14. 2020-10-23
    historical Under Contract - Continue to Show
15. 2020-10-19
    listed $47,000 Active
16. 2020-10-15
    historical
17. 2017-11-15
    soldstatus $27,200
18. 2017-11-14
    soldstatus $27,200
19. 2017-10-16
    historical
20. 2017-08-29
    listed $29,900
21. 2007-11-21
    soldstatus $64,000
22. 1991-11-01
    soldstatus $40,500
23. 1987-09-09
    soldstatus $56,000

ⓘ 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: $1,315 · $110/mo
• Projected year-2 tax: $1,887 · $157/mo
• Expected delta: +$572/yr (+$48/mo · 43.5%)

ⓘ 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: $23,855
• − Mortgage interest: −$6,436
• − Property taxes: −$1,315
• − Insurance: −$574
• − Repairs & maintenance: −$1,908
• − Management: −$1,908
• − HOA: −$4,068
• − Depreciation: −$3,343
• Taxable income: $4,302
• Est. tax owed @ 24.0%: −$1,032
• After-tax cash flow: $4,625/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: 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

+105.2% since first listed

23 events — show timeline

• 2026-05-06 Price Changed $114,900 Smart MLS
• 2026-03-20 Listed $119,900 Smart MLS
• 2023-09-25 Sold (Public Records) $76,000 Public Records
• 2023-09-22 Sold (MLS) $76,000 Smart MLS
• 2023-08-21 Pending — Smart MLS
• 2023-08-14 Price Changed $74,000 Smart MLS
• 2023-08-14 Relisted — Smart MLS
• 2023-06-26 Contingent — Smart MLS
• 2023-06-09 Listed $94,000 Smart MLS
• 2021-04-14 Sold (Public Records) $54,000 Public Records
• 2021-04-09 Sold (MLS) $54,000 Smart MLS
• 2021-03-11 Listed $50,000 Smart MLS
• 2020-11-10 Listing Removed — Smart MLS
• 2020-10-23 Contingent — Smart MLS
• 2020-10-19 Listed $47,000 Smart MLS
• 2020-10-15 Coming Soon — Smart MLS
• 2017-11-15 Sold (Public Records) $27,200 Public Records
• 2017-11-14 Sold (MLS) $27,200 Smart MLS
• 2017-10-16 Listing Removed — Smart MLS
• 2017-08-29 Listed $29,900 Smart MLS
• 2007-11-21 Sold (Public Records) $64,000 Public Records
• 1991-11-01 Sold (Public Records) $40,500 Public Records
• 1987-09-09 Sold (Public Records) $56,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $1,315 · +0.0% YoY. Source: county tax records.