75 Fulton St · New Britain, CT 06051

$399,900

6 bd · 2.0 ba · 2,288 sqft · MultiFamily public records · 1 Days on market

Built 1968 6,534 sqft lot Est $421k · 5% 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 +16.4/30.0
• Appreciation +10.0/10.0
• ARV discount +9.8/15.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 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

2 family house, 3 bedrooms each apartment, hardwood floors, second floor remodeled, gas heat, separate utilities, each apartment has own driveway, nice fenced yard.

Key facts

• Immediate cash flow
• Own driveway
• Two-family property

Tags

• TWO-FAMILY PROPERTY
• IMMEDIATE CASH FLOW
• LAUNDRY AVAILABLE
• OWN DRIVEWAY
• EXPANDED DRIVEWAY
• GREAT BACKYARD SPACE

Property features AI

Exterior

• Parking: Parking for 6 vehicles
• Utilities: Public water connected; Public sewer connected; Natural gas hot water (domestic); Natural gas fuel for heat
• Home design: Multi-family 2-family property; Living area reported as 2288 (public record)
• Construction: Frame construction; Aluminum siding; Concrete foundation; Asphalt shingle roof; Built prior to or in public records (year not provided)
• Exterior features: Paved driveway; Paved parking and driveway

Interior

• Bedrooms: 6 bedrooms total
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heat (natural gas)
• Interior features: 10 total rooms; Full basement with storage and partially finished space; Two-unit multi-family property (2 units)
• Laundry & utility: All units have laundry hook-ups

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive. Per door: $115/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 $382k (4.6% below list).
• Recommended offer: $382k (4.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.4% 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: New Britain High School (math 10% / reading 31%, grade F, #162 of 194 statewide, top 83%, 2,331 students, 71% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: Rents soft (-0.6%/yr); 63 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $3,816/mo this rent would consume 90% of the median local household income ($51k/yr) (locally 2100% 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 + 0.0% 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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 $185k; list at $400k implies a 116% gain — meaningful room to come down on a strong offer.

Recommended offer $381,600 (4.6% 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 1968 — 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. 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?
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: 0.95% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.46%
• DSCR: 1.11
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $420,992
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Pike St	0.19mi	6/3.0	2,418 (+6%)	7mo	$375,000	$155	72
190 Wynola Ave	0.30mi	6/2.0	2,288 (0%)	20mo	$420,000	$184	70
31 Roosevelt St	0.20mi	6/2.0	2,600 (+14%)	8mo	$430,000	$165	61
60 Green St	0.23mi	6/2.5	2,091 (-9%)	15mo	$460,000	$220	61
35 Stanley Ct	0.69mi	6/2.0	2,288 (0%)	20mo	$390,000	$170	52
80 Collins St	0.66mi	6/3.0	2,610 (+14%)	1mo	$507,000	$194	40

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 2.98×
• Total profit: $221,320
• Equity at exit: $360,262

10-year hold

• IRR: 21.3%
• Equity multiple: 6.54×
• Total profit: $620,358
• Equity at exit: $776,918

Cash invested: $111,972 (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 06051

• Home prices YoY: 9.0%
• Rents YoY: -0.6%
• Active inventory: 63
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $3,816 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$521 /mo · $6,253/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$801
• Net cashflow: $230

Break-even live

Break-even rent $3,525

Max offer price $399,900

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,816
Total (2 units)			$3,816

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $399,900 Active 1 DOM

ⓘ 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: $6,253 · $521/mo
• Projected year-2 tax: $7,405 · $617/mo
• Expected delta: +$1,152/yr (+$96/mo · 18.4%)

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

Taxation est. · year 1

• Rental income: $45,792
• − Mortgage interest: −$22,401
• − Property taxes: −$6,253
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,663
• − Management: −$3,663
• − Depreciation: −$11,633
• Taxable loss: −$3,821
• Est. tax savings @ 24.0%: +$917
• After-tax cash flow: $3,675/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): 29,548
• Household income: $51,022
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 2100.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 30% Two or more races 17% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 40% Dominican 4%
• Common ancestry: Romanian 7% Lithuanian 6% Slovak 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 39% Russian/Polish/Slavic 6% Arabic 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: ▲ 31.52%
• Current HPI: 382.7816
• Rent YoY: ▼ -0.58%
• 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

+100.1% since first listed

5 events — show timeline

• 2026-06-17 Listed $399,900 Smart MLS
• 2017-10-12 Sold (MLS) $185,000 Smart MLS
• 2017-10-10 Sold (Public Records) $185,000 Public Records
• 2017-08-02 Listing Removed — Smart MLS
• 2017-02-27 Listed $199,900 Smart MLS

Property tax history

+2.1%/yr

Latest (2025): $6,253 · +2.4% YoY. Source: county tax records.