55 Blodgett Roy Dr · New Britain, CT 06053

$299,900

3 bd · 2.0 ba · 1,686 sqft · SingleFamily public records · 3 Days on market

Built 1954 0.29 ac lot $178/sqft · at area comps Est $367k · 18% 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).

• ARV discount +15.0/15.0
• Cash flow +10.9/30.0
• Appreciation +10.0/10.0
• 1% rule +4.1/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

Oversized ranch home with hardwood floors, an updated kitchen including newer cabinets and granite counters. Bright and spacious addition family room connects to first floor laundry room, beautifully landscaped deck and yard with hot tub. Bedrooms all feature BIG closets! Walkup attic for even more storage. Walkout basement finished for potential inlaw including full bathroom and kitchenette. Newer carpeting in basement. Roof, oil tank newer. Close to Westfarms Mall, CCSU, and several parks but on a quiet street for total relaxation.

Key facts

• Flexible space
• 2 fireplaces
• In-law setup

Tags

• LOWER-LEVEL POTENTIAL
• RENTAL INCOME
• IN-LAW SETUP
• HARDWOOD AND TILE FLOORING
• 2 FIREPLACES
• FLEXIBLE SPACE

Property features AI

Exterior

• Parking: Under-house garage; One garage space
• Utilities: Public water connected; Public sewer connected
• Home design: Single-family home
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Shingle siding
• Exterior features: Porch; Deck; Level lot

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Dishwasher
• Bedrooms: Three bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Baseboard heating (oil)
• Interior features: Seven total rooms; Two fireplaces; Full, partially finished basement; Attic with hatch access
• Laundry & utility: Oil-fired hot water (domestic); Fuel tank located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $276k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (8.7% below list).
• Recommended offer: $274k (8.7% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $2,737/mo this rent would consume 52% 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 $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $187k; list at $300k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $273,722 (8.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.90%
• DSCR: 0.92
• GRM: 9.1

CMA / ARV

• ARV (median comp): $367,444
• List price: $299,900
• Delta: -18.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30 Wendy Ln	0.26mi	3/2.0	1,794 (+6%)	1mo	$416,000	$232	76
65 Belridge Rd	0.22mi	3/2.0	1,562 (-7%)	5mo	$370,000	$237	74
122 Batterson Dr	0.36mi	3/1.5	1,730 (+3%)	8mo	$360,000	$208	70
40 Varmor Dr	0.11mi	3/1.5	1,868 (+11%)	7mo	$360,000	$193	70
90 Country Club Rd	0.17mi	4/1.0 (+1)	1,580 (-6%)	5mo	$325,000	$206	68
126 Belridge Rd	0.19mi	3/2.0	1,476 (-12%)	9mo	$355,000	$241	63
178 Alexander Rd	0.33mi	3/2.0	1,458 (-14%)	0mo	$360,000	$247	62
32 Leona Ln	0.16mi	2/1.5 (-1)	1,470 (-13%)	8mo	$340,000	$231	57
48 Leona Ln	0.18mi	3/1.5	1,464 (-13%)	14mo	$302,000	$206	56
200 Belridge Rd	0.33mi	3/1.5	1,470 (-13%)	7mo	$390,000	$265	55
191 Batterson Dr	0.47mi	3/1.5	1,470 (-13%)	9mo	$230,000	$156	47
43 Robin Rd	0.58mi	3/1.0	1,900 (+13%)	4mo	$430,000	$226	45

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: 23.6%
• Equity multiple: 2.91×
• Total profit: $160,491
• Equity at exit: $270,174

10-year hold

• IRR: 21.6%
• Equity multiple: 6.85×
• Total profit: $491,590
• Equity at exit: $582,640

Cash invested: $83,972 (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 06053

• Home prices YoY: 15.4%
• Rents YoY: 4.9%
• Active inventory: 69
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,737 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$598 /mo · $7,172/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $-133

Break-even live

Break-even rent $2,905

Max offer price $276,417

Occupancy floor 100%

Sensitivity live

Price	-10% $37	-5% $-48	+0% $-133	+5% $-218	+10% $-303
Rent	-10% $-349	-5% $-241	+0% $-133	+5% $-25	+10% $83
Rate	-1.0pp $18	-0.5pp $-57	base $-133	+0.5pp $-211	+1.0pp $-290

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
143 Brittany Farms Rd Unit A New Britain, CT	3.0	2.5	1722	$2,750	$1.60	15d	1	0.15mi
38 Bradford Walk Unit 38 Farmington, CT	2.0	2.5	1830	$3,500	$1.91	11d	1	0.38mi
59 Bradford Walk #59 Farmington, CT	2.0	2.5	2126	$3,600	$1.69	44d	1	0.40mi
80 Batterson Park Rd Farmington, CT	2.0	1.0–2.0	900	$4,793	$5.32	2d	98	0.98mi
1600 New Britain Ave Farmington, CT	1.0–2.0	1.0–1.5	1112	$2,595	$2.33	2d	1	0.99mi
27 Janet Dr Unit 1st Floor New Britain, CT	3.0	1.0	1581	$2,300	$1.45	24d	1	1.17mi
15 Farm Springs Rd Farmington, CT	2.0	2.0	864	$3,599	$4.16	2d	18	1.35mi

Listing history 9 events

1. 2026-05-18
   status Under Contract 707-char remark
2. 2026-05-12
   listed $299,900 Active 707-char remark
3. 2017-05-18
   soldstatus $187,000
4. 2017-05-15
   soldstatus $187,000 539-char remark

   Show marketing remark (539 chars)

   Oversized ranch home with hardwood floors, an updated kitchen including newer cabinets and granite counters. Bright and spacious addition family room connects to first floor laundry room, beautifully landscaped deck and yard with hot tub. Bedrooms all feature BIG closets! Walkup attic for even more storage. Walkout basement finished for potential inlaw including full bathroom and kitchenette. Newer carpeting in basement. Roof, oil tank newer. Close to Westfarms Mall, CCSU, and several parks but on a quiet street for total relaxation.

5. 2017-03-23
   historical 539-char remark

   Show marketing remark (539 chars)

   Oversized ranch home with hardwood floors, an updated kitchen including newer cabinets and granite counters. Bright and spacious addition family room connects to first floor laundry room, beautifully landscaped deck and yard with hot tub. Bedrooms all feature BIG closets! Walkup attic for even more storage. Walkout basement finished for potential inlaw including full bathroom and kitchenette. Newer carpeting in basement. Roof, oil tank newer. Close to Westfarms Mall, CCSU, and several parks but on a quiet street for total relaxation.

6. 2017-01-14
   listed $189,900 539-char remark

   Show marketing remark (539 chars)

   Oversized ranch home with hardwood floors, an updated kitchen including newer cabinets and granite counters. Bright and spacious addition family room connects to first floor laundry room, beautifully landscaped deck and yard with hot tub. Bedrooms all feature BIG closets! Walkup attic for even more storage. Walkout basement finished for potential inlaw including full bathroom and kitchenette. Newer carpeting in basement. Roof, oil tank newer. Close to Westfarms Mall, CCSU, and several parks but on a quiet street for total relaxation.

7. 2015-09-24
   historical
8. 2015-05-23
   listed $204,900
9. 2000-07-05
   soldstatus $139,000

ⓘ 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: $7,172 · $598/mo
• Projected year-2 tax: $7,172 · $598/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $32,847
• − Mortgage interest: −$16,799
• − Property taxes: −$7,172
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,628
• − Management: −$2,628
• − Depreciation: −$8,724
• Taxable loss: −$6,604
• Est. tax savings @ 24.0%: +$1,585
• After-tax cash flow: $-10/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

+115.8% since first listed

9 events — show timeline

• 2026-05-18 Pending — Smart MLS
• 2026-05-12 Listed $299,900 Smart MLS
• 2017-05-18 Sold (Public Records) $187,000 Public Records
• 2017-05-15 Sold (MLS) $187,000 Smart MLS
• 2017-03-23 Listing Removed — Smart MLS
• 2017-01-14 Listed $189,900 Smart MLS
• 2015-09-24 Listing Removed — Smart MLS
• 2015-05-23 Listed $204,900 Smart MLS
• 2000-07-05 Sold (Public Records) $139,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $7,172 · +2.4% YoY. Source: county tax records.