33 Hillhurst Ave · New Britain, CT 06053

$399,000

5 bd · 2.0 ba · 2,858 sqft · MultiFamily public records · 42 Days on market

Built 1928 7,405 sqft lot Est $523k · 24% 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 +15.6/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +4.8/10.0
• 1% rule +4.5/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Multi-family units

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

Listing remarks MLS

3Brs each unit .Enclosed front & rear porches walk up attic could give 2nd moreroom

Key facts

• 7,405 sq ft lot
• 8 parking spots
• Built 1928

Property features AI

Exterior

• Parking: Driveway parking; Paved parking; 8 total parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family 2-family property
• Construction: Frame and brick construction; Stone foundation; Red and white exterior color
• Exterior features: Level lot; Aluminum and brick siding; Asphalt shingle roof; Private paved driveway

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Radiator heat; Natural gas hot water; Window unit cooling
• Interior features: Total of 10 rooms; Full, unfinished basement with concrete floor; Walk-up attic
• Laundry & utility: Basement laundry hook-ups

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive. Per door: $86/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 $380k (4.6% below list).
• Recommended offer: $380k (4.6% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.2% in New Britain — 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 74/100 on livability (#67 in CT, #4,936 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: crime D, employment D.
• New Britain School District (suburban): math 6% / reading 17% proficiency, ranked #153 of 153 in CT (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Diloreto Elementary & Middle School (math 4% / reading 15%, grade F, #522 of 553 statewide, top 95%, 842 students, 73% FRL); Slade Middle School (math 0% / reading 8%, grade F, #174 of 175 statewide, top 99%, 795 students, 77% FRL); New Britain High School (math 10% / reading 31%, grade F, #162 of 194 statewide, top 83%, 2,331 students, 71% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 71 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $3,805/mo this rent would consume 73% of the median local household income ($63k/yr) (locally 1835% 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 $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 4.9% rent growth), your $112k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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 $144k; list at $399k implies a 177% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $380,500 (4.6% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 5% 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. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
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: 0.95% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.84%
• DSCR: 1.08
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $523,014
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 Hillhurst Ave	0.00mi	6/2.0 (+1)	2,858 (0%)	0mo	$487,000	$170	95
272 Burritt St	0.64mi	6/3.0 (+1)	2,771 (-3%)	1mo	$506,000	$183	56
19 Pulaski St	0.48mi	4/2.0 (-1)	2,618 (-8%)	8mo	$440,000	$168	52
116 Miller St	0.72mi	6/3.0 (+1)	2,838 (-1%)	10mo	$491,000	$173	48
8 Albany Ave	0.55mi	6/2.0 (+1)	2,496 (-13%)	6mo	$480,000	$192	43
222 Bond St	0.54mi	6/3.0 (+1)	2,604 (-9%)	16mo	$480,000	$184	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 4.94% rent growth · sell at horizon

5-year hold

• IRR: 26.3%
• Equity multiple: 3.11×
• Total profit: $235,881
• Equity at exit: $359,451

10-year hold

• IRR: 23.6%
• Equity multiple: 7.29×
• Total profit: $702,890
• Equity at exit: $775,169

Cash invested: $111,720 (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 06053

• Home prices YoY: 15.4%
• Rents YoY: 4.9%
• Active inventory: 71
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $3,805 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$576 /mo · $6,914/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$799
• Net cashflow: $171

Break-even live

Break-even rent $3,588

Max offer price $399,000

Occupancy floor 90%

Sensitivity live

Price	-10% $397	-5% $284	+0% $171	+5% $58	+10% $-55
Rent	-10% $-129	-5% $21	+0% $171	+5% $321	+10% $472
Rate	-1.0pp $372	-0.5pp $273	base $171	+0.5pp $68	+1.0pp $-37

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,804
Total (2 units)			$3,805

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
146 Sterling St New Britain, CT	4.0	1.0	2786	$2,700	$0.97	3d	1	0.32mi
45 Union St New Britain, CT	5.0	2.0	2060	$2,800	$1.36	25d	1	1.50mi

Listing history 13 events

1. 2026-06-03
   status $399,000 Under Contract 42 DOM
2. 2026-06-02
   days on market $399,000 Under Contract - Continue to Show 42 DOM
3. 2026-06-01
   days on market $399,000 Under Contract - Continue to Show 41 DOM
4. 2026-05-31
   days on market $399,000 Under Contract - Continue to Show 40 DOM
5. 2026-04-29
   historical Under Contract - Continue to Show
6. 2026-04-22
   listed $399,000 Active
7. 2026-04-20
   historical $399,000
8. 2004-01-20
   soldstatus $144,000
9. 2004-01-16
   soldstatus $144,000 87-char remark

   Show marketing remark (87 chars)

   3Brs each unit .Enclosed front & rear porches walk up attic could give 2nd moreroom

10. 2003-09-09
    listed $144,998 87-char remark

    Show marketing remark (87 chars)

    3Brs each unit .Enclosed front & rear porches walk up attic could give 2nd moreroom

11. 2001-12-03
    soldstatus $120,000
12. 2001-11-30
    soldstatus $120,000 169-char remark

    Show marketing remark (169 chars)

    This brick two-family home features 5 rooms on each floor and front porches too!There is lots of space, high ceilings and large windows. Walk up attic includes plumbing.

13. 2001-09-17
    listed $129,900 169-char remark

    Show marketing remark (169 chars)

    This brick two-family home features 5 rooms on each floor and front porches too!There is lots of space, high ceilings and large windows. Walk up attic includes plumbing.

ⓘ 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: $6,914 · $576/mo
• Projected year-2 tax: $7,726 · $644/mo
• Expected delta: +$812/yr (+$68/mo · 11.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $45,660
• − Mortgage interest: −$22,350
• − Property taxes: −$6,914
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,653
• − Management: −$3,653
• − Depreciation: −$11,607
• Taxable loss: −$4,512
• Est. tax savings @ 24.0%: +$1,083
• After-tax cash flow: $3,137/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: New Britain School District
• NCES district ID: 0902670
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $40,827
• Composite: 9.95/100
• National rank: #9816
• State rank: #153 of 153 in CT

Livability — New Britain

• Score: 74/100
• State rank: #67
• US rank: #4936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Britain, CT
• County: Hartford County · 754,208 people
• City population: 66,322
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 36,774
• Household income: $62,645
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 1835.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 36% Two or more races 13% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 25% Dominican 4%
• Common ancestry: Romanian 19% Lithuanian 3% Russian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 50% English-only · Spanish 26% Russian/Polish/Slavic 15% French/Haitian/Cajun 3%

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: ▲ 65.76%
• Current HPI: 491.4724
• Rent YoY: ▲ 4.94%
• 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

+207.2% since first listed

9 events — show timeline

• 2026-04-29 Contingent — Smart MLS
• 2026-04-22 Listed $399,000 Smart MLS
• 2026-04-20 Coming Soon $399,000 Smart MLS
• 2004-01-20 Sold (Public Records) $144,000 Public Records
• 2004-01-16 Sold (MLS) $144,000 Smart MLS
• 2003-09-09 Listed $144,998 Smart MLS
• 2001-12-03 Sold (Public Records) $120,000 Public Records
• 2001-11-30 Sold (MLS) $120,000 Smart MLS
• 2001-09-17 Listed $129,900 Smart MLS

Property tax history

+2.8%/yr

Latest (2025): $6,914 · +2.4% YoY. Source: county tax records.