32 Harrison St · Bristol, CT 06010

$385,000

6 bd · 2.0 ba · 2,932 sqft · MultiFamily public records · 3 Days on market

Built 1925 7,405 sqft lot $131/sqft · 13% below area Est $442k · 13% 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 +22.9/30.0
• ARV discount +13.3/15.0
• DSCR +7.3/10.0
• 1% rule +6.1/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to 32-34 Harrison St, a rare opportunity to own a 2 family with 3 bedrooms in each unit. Each unit is large and updated offering almost 1500 sq ft of living space, lots of storage and also have washer / dryer hookups. The first floor is currently rented on a month to month, so if your looking for income right away, here it is. The second floor has a nicely updated Kitchen with attached pantry and laundry hookups, a full bath, a dining room, living room, 3 bedrooms and 2 porches. This home also has a large walk-up basement that could easily be converted into a 3rd unit as well as a large basement perfect for storage. Gas heat with separate newer boilers for each unit. Updated electri

Key facts

• 7,405 sq ft lot
• 3 garage spots
• Built 1925

Property features AI

Exterior

• Parking: Detached garage; Driveway; 6 total parking spaces; 3 garage spaces
• Utilities: Public water connected; Public sewer connected; Natural gas hot water; Gas in street for heat fuel
• Home design: Multi-family property (2-family); Multi-family for sale
• Construction: Frame construction; Vinyl siding; Asphalt shingle roof; Concrete foundation
• Exterior features: Porch; Gutters; Exterior lighting; Level lot; Shared driveway

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 6 bedrooms (total)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating; Window air conditioning units
• Interior features: 12 total rooms; Full, unfinished basement with walk-out, concrete floor and sump pump; Walk-up attic
• Laundry & utility: All units have washer/dryer hook-ups

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $385k.

Deal economics

• At list price, monthly cash flow is $673 ($8k/yr) — positive. Per door: $337/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $385k).
• Cap rate 8.4% vs local median 3.3% in Bristol — 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 81/100 on livability (#21 in CT, #1,585 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: commute F.
• Bristol School District (suburban): math 28% / reading 44% proficiency, ranked #109 of 153 in CT (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ellen P. Hubbell School (math 42% / reading 52%, grade D-, #256 of 553 statewide, top 48%, 352 students, 70% FRL); Bristol Eastern High School (math 23% / reading 51%, grade F, #112 of 194 statewide, top 60%, 1,113 students, 46% FRL) — zoned schools average 58% FRL vs 37% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 220 active listings in the ZIP; solid renter incomes; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $4,280/mo this rent would consume 65% of the median local household income ($79k/yr) (locally 2172% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $108k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $106k; list at $385k implies a 263% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $385,000

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 1925 — 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. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.49%
• DSCR: 1.33
• GRM: 7.5

CMA / ARV

• ARV (median comp): $442,122
• List price: $385,000
• Delta: -12.92%
• 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
56 Harrison St	0.05mi	6/4.5	2,976 (+2%)	8mo	$505,000	$170	79
17 Grove St	0.55mi	6/3.0	2,727 (-7%)	2mo	$380,000	$139	57
123 High St	0.20mi	7/3.5 (+1)	3,305 (+13%)	8mo	$460,000	$139	52
69 Judd St	0.59mi	5/4.0 (-1)	2,836 (-3%)	6mo	$450,000	$159	49
45 Willis St	0.62mi	6/3.0	2,745 (-6%)	12mo	$423,000	$154	46
213 Summer St	0.59mi	6/3.0	3,254 (+11%)	6mo	$412,500	$127	45
23 Cedar St	0.73mi	6/3.0	2,822 (-4%)	14mo	$495,000	$175	44
193 Woodland St	0.42mi	5/3.0 (-1)	2,591 (-12%)	11mo	$595,000	$230	43
72 Stewart St	0.56mi	6/3.0	2,534 (-14%)	10mo	$415,000	$164	39
297 Summer St	0.61mi	6/3.0	2,633 (-10%)	18mo	$383,250	$146	36
61 Rustic Ter	0.69mi	6/3.0	3,180 (+8%)	18mo	$440,000	$138	35
26-28 Lincoln Pl	0.63mi	7/5.0 (+1)	3,312 (+13%)	15mo	$414,000	$125	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.41% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-8,787
• Equity at exit: $57,405

10-year hold

• IRR: 10.1%
• Equity multiple: 1.87×
• Total profit: $93,760
• Equity at exit: $33,288

Cash invested: $107,800 (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 06010

• Rents YoY: 5.4%
• Active inventory: 220
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $4,280 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$529 /mo · $6,343/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$899
• Net cashflow: $673

Break-even live

Break-even rent $3,428

Max offer price $385,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,280
Total (2 units)			$4,280

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-13
   status Under Contract 852-char remark
2. 2026-05-11
   listed $385,000 Active 852-char remark
3. 2026-05-06
   historical $385,000 852-char remark
4. 2025-04-30
   historical $1,900
5. 2025-04-23
   listed $1,900
6. 1997-04-11
   soldstatus $106,000
7. 1988-05-31
   soldstatus $86,000

ⓘ 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: $6,343 · $529/mo
• Projected year-2 tax: $7,291 · $608/mo
• Expected delta: +$948/yr (+$79/mo · 14.9%)

ⓘ 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 ≥95°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: $51,360
• − Mortgage interest: −$21,566
• − Property taxes: −$6,343
• − Insurance: −$1,925
• − Repairs & maintenance: −$4,109
• − Management: −$4,109
• − Depreciation: −$11,200
• Taxable income: $2,108
• Est. tax owed @ 24.0%: −$506
• After-tax cash flow: $7,573/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: Bristol School District
• NCES district ID: 0900510
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $59,953
• Composite: 32.07/100
• National rank: #5814
• State rank: #109 of 153 in CT

Livability — Bristol

• Score: 81/100
• State rank: #21
• US rank: #1585

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, CT
• County: Hartford County · 754,208 people
• City population: 61,684
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 61,684
• Household income: $79,314
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 2172.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 13% Black 7% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 13%
• Common ancestry: Lithuanian 11% Romanian 10% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 11% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Naugatuck Valley

• 2024 margin: Lean R (+7.4) · D 45.6% · R 53.0% · Other 1.4%
• All cycles: 2024: R+7.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -293.55%
• Current HPI: 255.5419
• Rent YoY: ▲ 5.41%
• 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

+347.7% since first listed

7 events — show timeline

• 2026-05-13 Pending — Smart MLS
• 2026-05-11 Listed $385,000 Smart MLS
• 2026-05-06 Coming Soon $385,000 Smart MLS
• 2025-04-30 Rental Removed $1,900 SMARTMLS
• 2025-04-23 Listed for Rent $1,900 SMARTMLS
• 1997-04-11 Sold (Public Records) $106,000 Public Records
• 1988-05-31 Sold (Public Records) $86,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $6,343 · +6.0% YoY. Source: county tax records.