20 Bretton Rd

West Hartford, CT 06119

$499,900C+

6 bd · 3.0 ba · 3,464 sqft · Built 1922 · MultiFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,670/mo
• Mortgage (P&I): −$2,622
• Tax + insurance: −$1,369
• HOA: −$0
• Vac / Maint / Mgmt: −$1,191
• Net cashflow: $489/mo
• Annual: $5,864/yr
• Cap rate: 7.47%
• Cash-on-cash: 4.19%
• DSCR: 1.19
• 1% rule: 1.13%
• Cash to close: $139,972

Investor read

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $500k.
• At list price, monthly cash flow is $489 ($6k/yr) — positive. Per door: $244/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $500k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#27 in CT, #1,989 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, cost of living F.
• West Hartford School District (urban): math 56% / reading 67% proficiency, ranked #39 of 153 in CT (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Morley School (math 62% / reading 67%, grade B, #118 of 553 statewide, top 23%, 299 students, 15% FRL); Hall High School (math 62% / reading 82%, grade B+, #14 of 194 statewide, top 8%, 1,408 students, 20% FRL) — zoned schools at 18% FRL track the district average.
• Watch-outs: property tax is 2.8% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.4%/yr); 40 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• 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.
• Cap rate 7.5% vs local median 3.3% in West Hartford — 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.
• At $5,670/mo this rent would consume 68% of the median local household income ($100k/yr) (locally 652% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.