46-48 Pleasant St · Plainfield Village, CT 06374

$329,000

6 bd · 3.0 ba · 2,522 sqft · MultiFamily · 41 Days on market

Built 1860 Fair condition 0.26 ac lot Est $338k · at est. ↓ 20% since listing

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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 +25.5/30.0
• ARV discount +8.7/15.0
• DSCR +8.4/10.0
• 1% rule +6.7/10.0
• Livability +3.7/5.0
• Appreciation +3.4/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

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

Listing remarks

Buy this multi with LOW TO NO MONEY DOWN. .Let me show you how. Plainfieldl large Adorable 2 Family Townhouse style units. Perfect opportunity to live on one side and let the other help pay your mortgage. Sits nicely off the road on a deadend street. Nice large units with a remodeled unit ready to be occupied 3 beautiful levels with1400sqft, 4-5 bedrms, 2 full bath, fully finished walkout basement for an inlaw, game rm, office, in home budiness & more. Beautiful open floor plan with an open kitchen with breakfast bar & SS appliances including a dishwasher, nice & bright w/ lots of windows throughout & 1st floor bedrm, .2nd floor has 2 more bedrms 2nd family rm &

Key facts

• Open floor plan
• Remodeled unit
• Ss appliances

Tags

• REMODELED UNIT
• OPEN FLOOR PLAN
• BREAKFAST BAR
• SS APPLIANCES
• LOTS OF WINDOWS
• PRIVATE ENTRANCE

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family (2-family) property
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof
• Exterior features: Secluded setting on a cul-de-sac; White exterior siding

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric baseboard heat; Electric hot water (domestic)
• Interior features: 15 total rooms; Full basement with walk-out; Attic with hatch access
• Laundry & utility: Basement laundry hook-ups

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $329k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive. Per door: $383/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $329k).
• Recommended offer: $319k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#68 in CT, #4,950 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute D-.
• Plainfield School District (town): math 24% / reading 41% proficiency, ranked #117 of 153 in CT (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 37 active listings in the ZIP; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($319k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $319,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1860 — 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 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?
8. 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.
9. 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.
10. 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: 1.17% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.97%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $337,948
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
46-48 Pleasant St	0.00mi	6/3.0	2,522 (0%)	1mo	$340,000	$135	99
22 2nd St	0.35mi	6/2.0	2,582 (+2%)	8mo	$335,000	$130	70
21-23 Community Ave	0.37mi	6/2.0	2,673 (+6%)	2mo	$380,000	$142	67
17-19 Second St	0.21mi	6/2.0	2,689 (+7%)	13mo	$360,000	$134	64
42 1st St	0.31mi	6/2.0	2,673 (+6%)	11mo	$357,500	$134	63
26-28 Babcock Ave	0.33mi	6/2.0	2,400 (-5%)	14mo	$257,500	$107	61
1 6th St	0.54mi	6/2.5	2,673 (+6%)	7mo	$390,000	$146	57
10 6th St	0.52mi	6/2.0	2,673 (+6%)	7mo	$359,000	$134	56
5 Eighth St	0.58mi	6/2.0	2,727 (+8%)	0mo	$380,000	$139	55
13-15 7th St	0.56mi	6/2.0	2,684 (+6%)	14mo	$380,000	$142	48
1 7th St	0.56mi	6/2.0	2,738 (+9%)	11mo	$255,000	$93	46
21-23 8th St	0.65mi	5/2.5 (-1)	2,619 (+4%)	19mo	$330,000	$126	41

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: -1.3%
• Equity multiple: 0.95×
• Total profit: $-4,500
• Equity at exit: $49,055

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $59,096
• Equity at exit: $28,446

Cash invested: $92,120 (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 06374

• Home prices YoY: -1.0%
• Active inventory: 37
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $3,847 medium
• Mortgage (P&I): −$1,725
• Tax est. 1.5%: −$411 /mo · $4,935/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$808
• Net cashflow: $765

Break-even live

Break-even rent $2,878

Max offer price $329,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,848
Total (2 units)			$3,847

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-18
   status Under Contract
2. 2026-04-07
   price $329,000
3. 2026-03-23
   price $359,000
4. 2026-03-21
   price $389,000
5. 2026-03-12
   price $399,000
6. 2026-03-08
   listed $409,000 Active

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $46,164
• − Mortgage interest: −$18,429
• − Property taxes: −$4,935
• − Insurance: −$1,645
• − Repairs & maintenance: −$3,693
• − Management: −$3,693
• − Depreciation: −$9,571
• Taxable income: $4,198
• Est. tax owed @ 24.0%: −$1,007
• After-tax cash flow: $8,178/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 · 2 photos

Fair 45/100 Moderate rehab

The property is in fair condition with moderate rehabilitation needs. Painting and landscaping would significantly enhance its value.

Repairs flagged

• Minor Paint — Some wear on interior walls
• Minor Landscaping — Overgrown vegetation

Value-add opportunities

• Both Paint interior walls — Enhances appearance and value
• Both Landscaping — Improves curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Some wear on interior walls	Minor	$500–3,000
Landscaping · Overgrown vegetation	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Enhances appearance and value ↑
• Both Landscaping — Improves curb appeal and 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: Plainfield School District
• NCES district ID: 0903270
• Math proficiency: 24% ▼ -16.00%
• Reading proficiency: 41% ▼ -17.00%
• Median HH income: $62,056
• Composite: 29.36/100
• National rank: #6531
• State rank: #117 of 153 in CT

Livability — Plainfield Village

• Score: 74/100
• State rank: #68
• US rank: #4950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plainfield Village, CT
• City population: 7,884
• Population (ZIP): 7,884

Population outlook (Northeastern Connecticut County) Hauer SSP2

• By 2040: 104,160

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 18% Slovak 3% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · French/Haitian/Cajun 4% Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Northeastern Connecticut

• 2024 margin: R (+15.4) · D 41.5% · R 57.0% · Other 1.5%
• All cycles: 2024: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.18%
• Current HPI: 311.7013
• Rent YoY: —
• Metro: —
• 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

-19.6% since first listed

6 events — show timeline

• 2026-04-18 Pending — Smart MLS
• 2026-04-07 Price Changed $329,000 Smart MLS
• 2026-03-23 Price Changed $359,000 Smart MLS
• 2026-03-21 Price Changed $389,000 Smart MLS
• 2026-03-12 Price Changed $399,000 Smart MLS
• 2026-03-08 Listed $409,000 Smart MLS