231 Burlington Ave · Bristol, CT 06010

$295,000

3 bd · 2.0 ba · 1,736 sqft · MultiFamily public records · 7 Days on market

Built 1930 0.52 ac lot $170/sqft · 17% below area Est $355k · 17% 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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.9/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• 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

Well-maintained 2-family home in a desirable Bristol location with strong income potential and flexibility for owner-occupants or investors alike! The first floor unit is currently vacant and has been recently refreshed offering a clean, move-in-ready space-perfect for an owner-occupant looking to offset their mortgage with rental income. The home has also undergone full lead abatement, an important upgrade that enhances safety and broadens tenant appeal. Freshly painted, updated kitchen with new cabinets in 2021 and well-presented. The second-floor unit is occupied, providing immediate cash flow. The property also presents the exciting potential for a third unit, making this a great opport

Key facts

• 0.52 acre lot
• 2 garage spots
• Built 1930

Property features AI

Exterior

• Parking: Detached garage; 2-car garage; Paved parking and driveway; Total of 6 parking spaces
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (2-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Vinyl siding
• Exterior features: Sidewalk; Porch; Level lot; Paved driveway

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air heating; Natural gas fuel for heating; Hot water system (other)
• Interior features: 12 total rooms; Full, unfinished basement with hatchway; Finished walk-up attic

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive. Per door: $218/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• Cap rate 8.1% vs local median 3.3% in Bristol — 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 81/100 on livability (#21 in CT, #1,585 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: commute F.
• Bristol School District (suburban): math 28% / reading 44% proficiency, ranked #109 of 153 in CT (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edgewood School (math 47% / reading 57%, grade C-, #213 of 553 statewide, top 41%, 251 students, 47% FRL); Bristol Eastern High School (math 23% / reading 51%, grade F, #112 of 194 statewide, top 60%, 1,113 students, 46% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 220 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $3,224/mo this rent would consume 49% of the median local household income ($79k/yr) (locally 2172% 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 $9k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 23y 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 $72k; list at $295k implies a 313% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $295,000

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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.09% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.32%
• DSCR: 1.28
• GRM: 7.6

CMA / ARV

• ARV (median comp): $355,469
• List price: $295,000
• Delta: -17.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Alder St	0.29mi	4/2.0 (+1)	1,848 (+6%)	5mo	$310,000	$168	66
58 Lincoln St	0.41mi	4/2.0 (+1)	1,794 (+3%)	6mo	$230,000	$128	66
48 Burlington Ave	0.34mi	4/2.0 (+1)	1,688 (-3%)	12mo	$325,000	$193	65
115 N Pond St	0.27mi	4/2.0 (+1)	1,764 (+2%)	21mo	$330,000	$187	62
172 North St	0.50mi	4/2.0 (+1)	1,636 (-6%)	3mo	$319,900	$196	60
72 Beech St	0.17mi	4/2.0 (+1)	1,536 (-12%)	10mo	$345,000	$225	59
20 Lincoln St	0.39mi	4/2.0 (+1)	1,904 (+10%)	5mo	$390,000	$205	56
15 Lincoln Pl	0.66mi	4/2.0 (+1)	1,626 (-6%)	1mo	$355,000	$218	53
36 Richmond Pl	0.71mi	2/2.0 (-1)	1,831 (+6%)	6mo	$350,000	$191	48
59 Judd St	0.47mi	4/3.0 (+1)	1,591 (-8%)	22mo	$325,500	$205	37

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 · 5.41% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.85×
• Total profit: $-11,986
• Equity at exit: $43,985

10-year hold

• IRR: 8.6%
• Equity multiple: 1.73×
• Total profit: $60,149
• Equity at exit: $25,506

Cash invested: $82,600 (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 06010

• Rents YoY: 5.4%
• Active inventory: 220
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $3,224 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$442 /mo · $5,302/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$677
• Net cashflow: $435

Break-even live

Break-even rent $2,673

Max offer price $295,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$3,224
Total (2 units)			$3,224

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Ingraham St Bristol, CT	2.0	2.0	1295	$1,700	$1.31	23d	1	0.49mi
34 Terryville Ave Unit 1 Bristol, CT	2.0	1.0	1176	$1,350	$1.15	23d	1	0.62mi
29 Lincoln Pl Bristol, CT	3.0	1.0	1200	$2,100	$1.75	43d	1	0.68mi
484 West St Unit 2nd Floor Bristol, CT	2.0	1.0	1256	$1,900	$1.51	43d	1	0.70mi
484 West St Unit 3rd Floor Bristol, CT	2.0	1.0	1256	$1,850	$1.47	43d	1	0.70mi
36 Woodcrest Dr Bristol, CT	3.0	1.5	1196	$2,500	$2.09	1d	1	0.75mi
407 West St Unit 2nd Floor Bristol, CT	3.0	1.0	1100	$1,425	$1.30	43d	1	0.85mi
37 Putnam St Bristol, CT	2.0	1.0	2188	$1,950	$0.89	1d	1	0.97mi
130 N Main St Unit 130-211 Bristol, CT	2.0	2.0	1310	$2,500	$1.91	43d	1	1.00mi
130 N Main St Unit 130-310 Bristol, CT	2.0	1.0	1101	$2,300	$2.09	43d	1	1.00mi
130 N Main St Unit 130-411 Bristol, CT	2.0	2.0	1310	$2,600	$1.98	43d	1	1.00mi
130 N Main St Unit 107 Bristol, CT	2.0	2.0	1383	$2,600	$1.88	14d	1	1.00mi
130 N Main St Unit 130-206 Bristol, CT	3.0	2.0	1441	$2,700	$1.87	23d	1	1.00mi
301 Main St Apt 28 Bristol, CT	2.0	2.0	1150	$2,400	$2.09	43d	1	1.01mi
22 Kelley St Bristol, CT	3.0	1.0	2231	$1,675	$0.75	43d	1	1.04mi
22 Kelley St Bristol, CT	3.0	1.0	2231	$1,675	$0.75	3d	1	1.04mi
78 Harrison St Bristol, CT	2.0	1.0	1948	$1,750	$0.90	43d	1	1.09mi
30 High St Unit 36H 2ND Bristol, CT	4.0	1.5	2133	$2,550	$1.20	15d	1	1.09mi
100 N Main St Unit 105 Bristol, CT	2.0	2.0	1441	$2,600	$1.80	19d	1	1.10mi
100 N Main St Unit 211 Bristol, CT	2.0	2.0	1310	$2,500	$1.91	43d	1	1.10mi
82 Bartholomew St Unit 2 Bristol, CT	4.0	1.0	1200	$2,100	$1.75	3d	1	1.16mi
130 Main St Unit 410 Bristol, CT	2.0	1.5	1541	$3,200	$2.08	43d	1	1.27mi
130 Main St Unit 210 Bristol, CT	2.0	2.0	1101	$2,300	$2.09	43d	1	1.27mi
130 Main St Unit 404 Bristol, CT	2.0	1.0	1213	$2,500	$2.06	43d	1	1.27mi
130 Main St Unit 211 Bristol, CT	2.0	2.0	1310	$2,500	$1.91	43d	1	1.27mi
130 Main St Unit 310 Bristol, CT	2.0	1.0	1101	$2,300	$2.09	43d	1	1.27mi
100 Main St Unit 201 Bristol, CT	2.0	1.0	1283	$2,300	$1.79	43d	1	1.30mi
100 Main St Unit 307 Bristol, CT	3.0	2.0	1607	$2,700	$1.68	43d	1	1.30mi
25 Pratt St Unit 3 Bristol, CT	2.0	1.0	1068	$1,375	$1.29	23d	1	1.32mi
380 King St #5 Bristol, CT	3.0	2.5	1440	$2,750	$1.91	19d	1	1.34mi
130 Church St Bristol, CT	3.0	1.5	1422	$1,900	$1.34	11d	1	1.36mi

Listing history 20 events

1. 2026-05-13
   status Under Contract 1231-char remark
2. 2026-05-07
   listed $295,000 Active 1231-char remark
3. 2026-05-04
   historical $295,000 1231-char remark
4. 2018-07-30
   soldstatus $71,500
5. 2015-09-17
   historical
6. 2015-03-21
   listed $159,900
7. 2014-04-22
   historical
8. 2013-10-22
   listed $162,900
9. 2010-07-21
   historical
10. 2010-01-21
    listed $199,900
11. 2007-05-30
    historical
12. 2007-01-30
    listed $225,000
13. 2006-12-27
    historical
14. 2006-06-27
    listed $225,000
15. 2003-05-23
    soldstatus $105,000
16. 2003-04-16
    listed $103,950
17. 1990-09-04
    soldstatus $160,000
18. 1987-05-26
    soldstatus $131,500
19. 1987-05-20
    soldstatus $76,000
20. 1987-05-16
    soldstatus $76,000

ⓘ 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: $5,302 · $442/mo
• Projected year-2 tax: $5,808 · $484/mo
• Expected delta: +$506/yr (+$42/mo · 9.5%)

ⓘ 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 ≥95°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: $38,688
• − Mortgage interest: −$16,525
• − Property taxes: −$5,302
• − Insurance: −$1,475
• − Repairs & maintenance: −$3,095
• − Management: −$3,095
• − Depreciation: −$8,582
• Taxable income: $615
• Est. tax owed @ 24.0%: −$147
• After-tax cash flow: $5,075/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: Bristol School District
• NCES district ID: 0900510
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $59,953
• Composite: 32.07/100
• National rank: #5814
• State rank: #109 of 153 in CT

Livability — Bristol

• Score: 81/100
• State rank: #21
• US rank: #1585

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, CT
• County: Hartford County · 754,208 people
• City population: 61,684
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 61,684
• Household income: $79,314
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 2172.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 13% Black 7% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 13%
• Common ancestry: Lithuanian 11% Romanian 10% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 11% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Naugatuck Valley

• 2024 margin: Lean R (+7.4) · D 45.6% · R 53.0% · Other 1.4%
• All cycles: 2024: R+7.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -293.55%
• Current HPI: 255.5419
• Rent YoY: ▲ 5.41%
• 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

+288.2% since first listed

20 events — show timeline

• 2026-05-13 Pending — Smart MLS
• 2026-05-07 Listed $295,000 Smart MLS
• 2026-05-04 Coming Soon $295,000 Smart MLS
• 2018-07-30 Sold (Public Records) $71,500 Public Records
• 2015-09-17 Listing Removed — Smart MLS
• 2015-03-21 Listed $159,900 Smart MLS
• 2014-04-22 Listing Removed — Smart MLS
• 2013-10-22 Listed $162,900 Smart MLS
• 2010-07-21 Listing Removed — Smart MLS
• 2010-01-21 Listed $199,900 Smart MLS
• 2007-05-30 Listing Removed — Smart MLS
• 2007-01-30 Listed $225,000 Smart MLS
• 2006-12-27 Listing Removed — Smart MLS
• 2006-06-27 Listed $225,000 Smart MLS
• 2003-05-23 Sold (MLS) $105,000 Smart MLS
• 2003-04-16 Listed $103,950 Smart MLS
• 1990-09-04 Sold (Public Records) $160,000 Public Records
• 1987-05-26 Sold (Public Records) $131,500 Public Records
• 1987-05-20 Sold (Public Records) $76,000 Public Records
• 1987-05-16 Sold (Public Records) $76,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $5,302 · +6.0% YoY. Source: county tax records.