61 Gladiola St · New Britain, CT 06053

$448,900

7 bd · 3.0 ba · 2,808 sqft · MultiFamily public records · 6 Days on market

Built 1963 7,405 sqft lot $160/sqft · at area comps Est $467k · at est.

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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 +23.6/30.0
• Appreciation +10.0/10.0
• ARV discount +9.2/15.0
• DSCR +7.6/10.0
• 1% rule +6.4/10.0
• 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: 3 units. confirmed

Listing remarks MLS

3 Family home in super condition. Spacious apartments, hardwood floors on 1st and 2nd floors. Great location. Won't last.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1963

Property features AI

Finance

• Financial info: Assessed value listed (public record): $204,400

Exterior

• Parking: Under-house garage; 1 garage space
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Concrete foundation; Built with typical multi-family construction
• Exterior features: Vinyl siding; Asphalt shingle roof

Interior

• Bedrooms: 8 total bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating; Heat fuel: Electric and Natural Gas; Domestic hot water provided (Natural Gas)
• Interior features: 11 total rooms; Basement is partial with garage access and walk-out; includes an apartment; 3-family multi-unit (3 separate units)
• Laundry & utility: Basement laundry hook-ups

What this means for you Summary

Snapshot

• This is a 2×3bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $449k.

Deal economics

• At list price, monthly cash flow is $845 ($10k/yr) — positive. Per door: $282/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $449k).
• Cap rate 8.6% 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: Holmes Elementary School (math 11% / reading 23%, grade F, #459 of 553 statewide, top 84%, 460 students, 65% 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 68% FRL track the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 69 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $5,131/mo this rent would consume 98% 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 $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 4.9% rent growth), your $126k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $115k; list at $449k implies a 290% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $448,900

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 1963 — 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: 1.14% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.07%
• DSCR: 1.36
• GRM: 7.3

CMA / ARV

• ARV (median comp): $466,727
• List price: $448,900
• Delta: -3.82%
• 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
16 Vincent Ave	0.20mi	7/3.0	2,939 (+5%)	6mo	$535,000	$182	78
18 Derby St	0.19mi	6/3.0 (-1)	2,931 (+4%)	9mo	$441,000	$150	72
19 Hayes St	0.45mi	6/3.0 (-1)	2,727 (-3%)	7mo	$298,000	$109	63
156 Wilcox St	0.25mi	6/2.0 (-1)	2,608 (-7%)	9mo	$395,000	$151	60
116 Miller St	0.62mi	6/3.0 (-1)	2,838 (+1%)	10mo	$491,000	$173	56
182 West St	0.65mi	6/3.0 (-1)	2,910 (+4%)	7mo	$485,000	$167	53
154 Daly Ave	0.56mi	6/3.0 (-1)	2,520 (-10%)	8mo	$402,000	$160	45
62 Miller St	0.54mi	6/3.0 (-1)	3,090 (+10%)	10mo	$490,000	$159	45
15 Tremont St	0.69mi	8/3.0 (+1)	3,126 (+11%)	1mo	$450,000	$144	44
34 Beatty St	0.57mi	6/3.0 (-1)	3,228 (+15%)	4mo	$510,000	$158	40
38 Brown St	0.54mi	6/2.0 (-1)	2,392 (-15%)	7mo	$403,000	$168	35
527 Burritt St	0.72mi	6/2.0 (-1)	2,428 (-14%)	1mo	$375,000	$154	34

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: 31.0%
• Equity multiple: 3.46×
• Total profit: $308,655
• Equity at exit: $404,405

10-year hold

• IRR: 27.5%
• Equity multiple: 8.08×
• Total profit: $889,311
• Equity at exit: $872,114

Cash invested: $125,692 (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: 69
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $5,131 high
• Mortgage (P&I): −$2,354
• Tax from tax record: −$667 /mo · $8,008/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,078
• Net cashflow: $845

Break-even live

Break-even rent $4,061

Max offer price $448,900

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,536
1× unit	2	1	$1,594
Total (3 units)			$5,131

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: $112,225
• Closing costs: $13,467
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
151 Fairview St New Britain, CT	6.0	3.0	4098	$1,800	$0.44	3d	1	1.39mi

Listing history 4 events

1. 2026-05-09
   historical $448,900 531-char remark
2. 2001-10-04
   soldstatus $115,000
3. 2001-10-03
   soldstatus $115,000 121-char remark

   Show marketing remark (121 chars)

   3 Family home in super condition. Spacious apartments, hardwood floors on 1st and 2nd floors. Great location. Won't last.

4. 2001-01-30
   listed $114,900 121-char remark

   Show marketing remark (121 chars)

   3 Family home in super condition. Spacious apartments, hardwood floors on 1st and 2nd floors. Great location. Won't last.

ⓘ 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: $8,008 · $667/mo
• Projected year-2 tax: $8,807 · $734/mo
• Expected delta: +$799/yr (+$67/mo · 10.0%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,572
• − Mortgage interest: −$25,145
• − Property taxes: −$8,008
• − Insurance: −$2,244
• − Repairs & maintenance: −$4,926
• − Management: −$4,926
• − Depreciation: −$13,059
• Taxable income: $3,264
• Est. tax owed @ 24.0%: −$783
• After-tax cash flow: $9,357/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

+290.7% since first listed

6 events — show timeline

• 2026-05-27 Pending — Smart MLS
• 2026-05-21 Listed $448,900 Smart MLS
• 2026-05-09 Coming Soon $448,900 Smart MLS
• 2001-10-04 Sold (Public Records) $115,000 Public Records
• 2001-10-03 Sold (MLS) $115,000 Smart MLS
• 2001-01-30 Listed $114,900 Smart MLS

Property tax history

+3.9%/yr

Latest (2025): $8,008 · +2.4% YoY. Source: county tax records.