277-281-283 WETHERSFIELD Ave · Hartford, CT 06114

$1,200,000

23 bd · 6.4 ba · 10,692 sqft · MultiFamily public records · 28 Days on market

Built 1900 2,178 sqft lot

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Why this score? — see what drove the B+ 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 +29.6/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

2 buildings total of 13 units net income of 87000, Also listed as MLS#G10166453

Key facts

• High income property
• Two buildings
• Fully rented

Tags

• TWO BUILDINGS
• WELL MAINTAINED UNITS
• FULLY RENTED
• HIGH INCOME PROPERTY

Property features AI

Exterior

• Parking: Parking lot; 12 parking spaces
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (5+ units)
• Construction: Brick construction; Brick foundation
• Exterior features: Level lot; Brick exterior siding; Flat roof

Interior

• Bedrooms: 24 total bedrooms
• Bathrooms: 6 full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heat fuel; Electric 30-gallon hot water tank
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 8 × 3-bed/?-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive. Per door: $540/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.20M).
• Recommended offer: $1.18M (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#58 in CT, #3,553 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D-, crime F, employment F.
• Hartford School District (urban): math 13% / reading 21% proficiency, ranked #150 of 153 in CT (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.5%/yr); 54 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $16,602/mo this rent would consume 382% of the median local household income ($52k/yr) (locally 1897% 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 $128k of equity ($8k loan paydown + $120k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 1.5% rent growth), your $336k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$206k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($1.18M) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y 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 $720k; list at $1.20M implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $1,182,000 (1.5% 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 1900 — 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 D-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. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 1.38% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.44%
• DSCR: 1.69
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: 34.9%
• Equity multiple: 3.69×
• Total profit: $904,262
• Equity at exit: $1,081,055

10-year hold

• IRR: 29.6%
• Equity multiple: 8.14×
• Total profit: $2,399,536
• Equity at exit: $2,331,336

Cash invested: $336,000 (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 06114

• Home prices YoY: 4.7%
• Rents YoY: 1.5%
• Active inventory: 54
• Price-to-rent: 48.2×

Monthly cashflow live

• Estimated rent: $16,602 high
• Mortgage (P&I): −$6,293
• Tax from tax record: −$2,000 /mo · $23,997/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,486
• Net cashflow: $4,323

Break-even live

Break-even rent $11,130

Max offer price $1,200,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 8× units	3	—	$16,600
Total (8 units)			$16,602

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-18
   days on market $1,200,000 Active 28 DOM
2. 2026-06-17
   days on market $1,200,000 Active 27 DOM
3. 2026-06-16
   days on market $1,200,000 Active 26 DOM
4. 2026-06-15
   days on market $1,200,000 Active 25 DOM
5. 2026-06-13
   days on market $1,200,000 Active 23 DOM
6. 2026-06-13
   days on market $1,200,000 Active 22 DOM
7. 2026-06-10
   days on market $1,200,000 Active 20 DOM
8. 2026-06-09
   days on market $1,200,000 Active 19 DOM
9. 2026-06-08
   days on market $1,200,000 Active 18 DOM
10. 2026-06-07
    days on market $1,200,000 Active 17 DOM
11. 2026-06-05
    days on market $1,200,000 Active 14 DOM
12. 2026-06-03
    days on market $1,200,000 Active 13 DOM
13. 2026-06-02
    days on market $1,200,000 Active 12 DOM
14. 2026-06-01
    days on market $1,200,000 Active 11 DOM
15. 2026-05-31
    days on market $1,200,000 Active 10 DOM
16. 2026-05-21
    listed $1,200,000 Active
17. 2019-09-20
    soldstatus $720,000 Closed 79-char remark

    Show marketing remark (79 chars)

    2 buildings total of 13 units net income of 87000, Also listed as MLS#G10166453

18. 2018-05-31
    historical 79-char remark

    Show marketing remark (79 chars)

    2 buildings total of 13 units net income of 87000, Also listed as MLS#G10166453

19. 2016-11-30
    historical 79-char remark

    Show marketing remark (79 chars)

    2 buildings total of 13 units net income of 87000, Also listed as MLS#G10166453

20. 2016-09-07
    listed $750,000 79-char remark

    Show marketing remark (79 chars)

    2 buildings total of 13 units net income of 87000, Also listed as MLS#G10166453

21. 2014-04-28
    historical
22. 2013-08-27
    listed $420,000
23. 2013-04-19
    historical
24. 2012-10-22
    listed $475,000
25. 2012-09-28
    historical
26. 2012-06-06
    listed $950,000
27. 2009-06-12
    historical
28. 2008-07-30
    historical
29. 2008-02-02
    listed $590,000
30. 2008-02-02
    listed $590,000
31. 2007-10-29
    historical
32. 2007-04-30
    listed $480,000
33. 2007-03-13
    historical
34. 2006-09-20
    listed $560,000
35. 2003-12-30
    soldstatus $680,240
36. 1993-06-01
    soldstatus $142,800
37. 1989-06-14
    soldstatus $820,000
38. 1989-06-14
    soldstatus $820,000
39. 1989-06-01
    soldstatus $820,000

ⓘ 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: $23,997 · $2,000/mo
• Projected year-2 tax: $24,838 · $2,070/mo
• Expected delta: +$842/yr (+$70/mo · 3.5%)

ⓘ 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 ≥97°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $199,224
• − Mortgage interest: −$67,219
• − Property taxes: −$23,997
• − Insurance: −$6,000
• − Repairs & maintenance: −$15,938
• − Management: −$15,938
• − Depreciation: −$34,909
• Taxable income: $35,223
• Est. tax owed @ 24.0%: −$8,454
• After-tax cash flow: $43,421/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: Hartford School District
• NCES district ID: 0901920
• Math proficiency: 13% ▼ -5.00%
• Reading proficiency: 21% ▼ -6.00%
• Median HH income: $30,521
• Composite: 13.54/100
• National rank: #9514
• State rank: #150 of 153 in CT

Livability — Hartford

• Score: 76/100
• State rank: #58
• US rank: #3553

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartford, CT
• County: Hartford County · 754,208 people
• City population: 121,162
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 26,458
• Household income: $52,110
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 1897.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 60% White 19% Black 19% Two or more races 10% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 36% Dominican 6%
• Common ancestry: American 6% Romanian 1% Lithuanian 1%
• Foreign-born: 31% · Canada, Jamaica
• Languages at home: 36% English-only · Spanish 49% Russian/Polish/Slavic 8% Other Indo-European 4%

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: ▲ 16.02%
• Current HPI: 356.5892
• Rent YoY: ▲ 1.47%
• 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

+46.3% since first listed

24 events — show timeline

• 2026-05-21 Listed $1,200,000 Smart MLS
• 2019-09-20 Sold (MLS) $720,000 Smart MLS
• 2018-05-31 Listing Removed — Smart MLS
• 2016-11-30 Listing Removed — Smart MLS
• 2016-09-07 Listed $750,000 Smart MLS
• 2014-04-28 Listing Removed — Smart MLS
• 2013-08-27 Listed $420,000 Smart MLS
• 2013-04-19 Listing Removed — Smart MLS
• 2012-10-22 Listed $475,000 Smart MLS
• 2012-09-28 Listing Removed — Smart MLS
• 2012-06-06 Listed $950,000 Smart MLS
• 2009-06-12 Listing Removed — Smart MLS
• 2008-07-30 Listing Removed — Smart MLS
• 2008-02-02 Listed $590,000 Smart MLS
• 2008-02-02 Listed $590,000 Smart MLS
• 2007-10-29 Listing Removed — Smart MLS
• 2007-04-30 Listed $480,000 Smart MLS
• 2007-03-13 Listing Removed — Smart MLS
• 2006-09-20 Listed $560,000 Smart MLS
• 2003-12-30 Sold (Public Records) $680,240 Public Records
• 1993-06-01 Sold (Public Records) $142,800 Public Records
• 1989-06-14 Sold (Public Records) $820,000 Public Records
• 1989-06-14 Sold (Public Records) $820,000 Public Records
• 1989-06-01 Sold (Public Records) $820,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $23,997 · +0.0% YoY. Source: county tax records.