5 Eighth St · Plainfield Village, CT 06374

$375,000

6 bd · 2.0 ba · 2,727 sqft · MultiFamily · 12 Days on market

Built 1920 Average condition 8,712 sqft lot $138/sqft · at area comps Est $370k · at est.

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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 +18.6/30.0
• ARV discount +6.9/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Livability +3.7/5.0
• Appreciation +3.4/10.0
• Schools +2.9/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Multi-family units

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

Listing remarks

Owner-occupied duplex ready for its next chapter! This well-maintained property features two spacious units, each offering 3 bedrooms and 1 full bath. Ideal for both owner-occupants and investors, with strong income potential or the option to live in one unit while renting the other. Conveniently located close to town and a nearby park, providing easy access to everyday amenities. A solid opportunity in a desirable location-don't miss it.

Key facts

• Two spacious units
• Desirable location
• Nearby park

Tags

• OWNER OCCUPIED DUPLEX
• TWO SPACIOUS UNITS
• STRONG INCOME POTENTIAL
• NEARBY PARK
• EASY ACCESS TO AMENITIES
• DESIRABLE LOCATION

Property features AI

Exterior

• Parking: Unpaved parking; 4 parking spaces
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (2-family)
• Construction: Stone foundation; Concrete construction; Asphalt shingle roof; Vinyl siding; Built living area approximately 2727
• Exterior features: Level lot; Shed; Deck; Gutters

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Hot water: electric domestic; Heat fuel: natural gas and oil; Fuel tank located in basement; Active solar; Thermopane windows
• Interior features: 14 total rooms; Full, unfinished basement; Attic with hatch access

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $375k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive. Per door: $182/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $374k (0.2% below list).
• Recommended offer: $374k (0.2% below list) — sets the bar for 1% rule.

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: 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.
• Zoned schools: Shepard Hill Elementary School (math 27% / reading 27%, grade F, #401 of 553 statewide, top 74%, 300 students, 64% FRL); Plainfield Central School (math 25% / reading 44%, grade F, #124 of 175 statewide, top 72%, 445 students, 57% FRL); Plainfield High School (math 17% / reading 42%, grade F, #139 of 194 statewide, top 74%, 535 students, 49% FRL) — zoned schools average 57% FRL vs 37% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 36 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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $374,100 (0.2% below list)

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 1920 — 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. 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?
6. 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.
7. 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.
8. 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: 1.00% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.16%
• DSCR: 1.19
• GRM: 8.4

CMA / ARV

• ARV (median comp): $370,358
• List price: $375,000
• Delta: 1.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Eighth St	0.00mi	6/2.0	2,727 (0%)	1mo	$380,000	$139	100
10 6th St	0.07mi	6/2.0	2,673 (-2%)	7mo	$359,000	$134	87
1 6th St	0.04mi	6/2.5	2,673 (-2%)	7mo	$390,000	$146	87
1 7th St	0.07mi	6/2.0	2,738 (+0%)	11mo	$255,000	$93	87
21-23 Community Ave	0.22mi	6/2.0	2,673 (-2%)	2mo	$380,000	$142	85
13-15 7th St	0.07mi	6/2.0	2,684 (-2%)	14mo	$380,000	$142	83
42 1st St	0.33mi	6/2.0	2,673 (-2%)	11mo	$357,500	$134	72
22 2nd St	0.34mi	6/2.0	2,582 (-5%)	8mo	$335,000	$130	69
21-23 8th St	0.07mi	5/2.5 (-1)	2,619 (-4%)	19mo	$330,000	$126	68
17-19 Second St	0.42mi	6/2.0	2,689 (-1%)	13mo	$360,000	$134	67
46-48 Pleasant St	0.58mi	6/3.0	2,522 (-8%)	1mo	$340,000	$135	56
26-28 Babcock Ave	0.30mi	6/2.0	2,400 (-12%)	14mo	$257,500	$107	54

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: -9.8%
• Equity multiple: 0.64×
• Total profit: $-37,536
• Equity at exit: $55,914

10-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-2,616
• Equity at exit: $32,423

Cash invested: $105,000 (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: 36
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $3,741 medium
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$786
• Net cashflow: $364

Break-even live

Break-even rent $3,280

Max offer price $375,000

Occupancy floor 85%

Sensitivity live

Price	-10% $623	-5% $493	+0% $364	+5% $234	+10% $105
Rent	-10% $68	-5% $216	+0% $364	+5% $512	+10% $659
Rate	-1.0pp $553	-0.5pp $459	base $364	+0.5pp $267	+1.0pp $168

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,742
Total (2 units)			$3,741

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-06
   status Under Contract 442-char remark
2. 2026-04-24
   listed $375,000 Active 442-char remark

ⓘ 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 ≥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: $44,892
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,591
• − Management: −$3,591
• − Depreciation: −$10,909
• Taxable loss: −$1,706
• Est. tax savings @ 24.0%: +$409
• After-tax cash flow: $4,776/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 · 13 photos

Average 55/100 Moderate rehab

A moderate rehab project is needed to update the kitchen and bathroom, which would significantly increase the property's resale and rental value.

Repairs flagged

• Minor kitchen backsplash — dated and could be replaced
• Minor bathroom fixtures — standard fixtures could be updated

Value-add opportunities

• Resale update kitchen backsplash — modernizes the kitchen and adds value
• Rental update bathroom fixtures — improves the rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen backsplash · dated and could be replaced	Minor	$500–3,000
bathroom fixtures · standard fixtures could be updated	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale update kitchen backsplash — modernizes the kitchen and adds value ↑
• Rental update bathroom fixtures — improves the rental appeal ↑

ⓘ 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

+1.3% since first listed

3 events — show timeline

• 2026-06-05 Sold (MLS) $380,000 Smart MLS
• 2026-05-06 Pending — Smart MLS
• 2026-04-24 Listed $375,000 Smart MLS