40 Bond St · Hartford, CT 06114

$360,000

5 bd · 3.0 ba · 1,794 sqft · MultiFamily public records · 12 Days on market

Built 1900 7,405 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Great opportunity to own a 3 family property in Hartford. This multi unit building offers 5 bedrooms, 3 full bathrooms, 1,794 square feet of living area, and sits on a 7,501 square foot lot. The property features aluminum/vinyl exterior siding, natural gas heat, and an unfinished basement. Convenient location with strong rental potential and easy access to nearby amenities, schools, shopping, and major routes. Ideal for investors or owner occupants looking to build equity in a multi family asset.

Key facts

• Multi unit building
• Unfinished basement
• Natural gas heat

Tags

• MULTI UNIT BUILDING
• ALUMINUM VINYL EXTERIOR SIDING
• NATURAL GAS HEAT
• UNFINISHED BASEMENT
• STRONG RENTAL POTENTIAL
• SCHOOLS SHOPPING MAJOR ROUTES

Property features AI

Exterior

• Parking: Driveway; 7 total parking spaces
• Utilities: Hot water: Other
• Home design: Multi-family (3-family)
• Construction: Built with wood foundation; Frame construction; Asphalt shingle roof; Vinyl siding
• Exterior features: Level lot; Paved driveway

Interior

• Bedrooms: 5 bedrooms total
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot water heating; Natural gas fuel
• Interior features: 15 total rooms; Partial, unfinished basement; Multi-family property with 3 units

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $360k).

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: 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.
• Zoned schools: Hartford Public High School (math 2% / reading 12%, grade F, #188 of 194 statewide, top 98%, 709 students, 82% FRL) — zoned schools at 82% FRL track the district average.
• Market conditions: Rents rising (+1.5%/yr); 54 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 $7,118/mo this rent would consume 164% 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 $38k of equity ($2k loan paydown + $36k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 1.5% rent growth), your $101k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $45k; list at $360k implies a 700% 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→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $360,000

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: 1.98% ✓
• Cap rate: 16.85%
• Cash-on-cash: 37.72%
• DSCR: 2.68
• GRM: 4.2

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: 52.3%
• Equity multiple: 4.84×
• Total profit: $387,163
• Equity at exit: $324,317

10-year hold

• IRR: 45.3%
• Equity multiple: 10.53×
• Total profit: $961,044
• Equity at exit: $699,401

Cash invested: $100,800 (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: 12.6×

Monthly cashflow live

• Estimated rent: $7,118 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$417 /mo · $5,002/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,495
• Net cashflow: $3,169

Break-even live

Break-even rent $3,107

Max offer price $360,000

Occupancy floor 50%

Sensitivity live

Price	-10% $3,372	-5% $3,270	+0% $3,169	+5% $3,067	+10% $2,965
Rent	-10% $2,606	-5% $2,887	+0% $3,169	+5% $3,450	+10% $3,731
Rate	-1.0pp $3,350	-0.5pp $3,260	base $3,169	+0.5pp $3,075	+1.0pp $2,980

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$7,119
Total (3 units)			$7,118

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
452 Hillside Ave Hartford, CT	4.0	1.0	1233	$2,700	$2.19	25d	1	1.22mi

Listing history 8 events

1. 2026-06-18
   days on market $360,000 Active 12 DOM
2. 2026-06-17
   days on market $360,000 Active 11 DOM
3. 2026-06-16
   days on market $360,000 Active 10 DOM
4. 2026-06-15
   days on market $360,000 Active 9 DOM
5. 2026-06-13
   days on market $360,000 Active 7 DOM
6. 2026-06-13
   pricestatus $360,000 Active 6 DOM
7. 2026-05-20
   listed $340,000 Active
8. 1994-06-01
   soldstatus $45,000

ⓘ 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: $5,002 · $417/mo
• Projected year-2 tax: $6,353 · $529/mo
• Expected delta: +$1,351/yr (+$113/mo · 27.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 17 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: $85,416
• − Mortgage interest: −$20,166
• − Property taxes: −$5,002
• − Insurance: −$1,800
• − Repairs & maintenance: −$6,833
• − Management: −$6,833
• − Depreciation: −$10,473
• Taxable income: $34,309
• Est. tax owed @ 24.0%: −$8,234
• After-tax cash flow: $29,788/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

+700.0% since first listed

6 events — show timeline

• 2026-06-19 Pending — Smart MLS
• 2026-06-12 Price Changed $360,000 Smart MLS
• 2026-06-12 Relisted — Smart MLS
• 2026-05-26 Pending — Smart MLS
• 2026-05-20 Listed $340,000 Smart MLS
• 1994-06-01 Sold (Public Records) $45,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $5,002 · +0.0% YoY. Source: county tax records.