301 Queen St · Bristol, CT 06010

$380,000

6 bd · 2.0 ba · 2,303 sqft · MultiFamily public records · 23 Days on market

Built 1830 0.41 ac lot Est $382k · at est.

---

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 +22.5/30.0
• ARV discount +7.8/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• 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 MLS

This spacious Federal Hill two unit property is ideal for investment or owner occupied. Three beds, 1 bath in each unit. Close to Bristol Health, ESPN, and Bristol's thriving downtown. Sale is subject to Probate Approval, Being sold AS IS, Where IS. Interior needs a little TLC. New roof- April 2025. First floor is oil heat and Second floor is gas heat. Parties are responsible for all due diligence.

Key facts

• New gutters
• Two-family home
• New appliances

Tags

• TWO-FAMILY HOME
• UPDATED KITCHENS
• NEW APPLIANCES
• BRAND NEW WINDOWS
• NEW ROOF
• NEW GUTTERS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $380k.

Deal economics

• At list price, monthly cash flow is $640 ($8k/yr) — positive. Per door: $320/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $380k).
• Recommended offer: $374k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 $4,157/mo this rent would consume 63% 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 $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $106k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• 5 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 $284k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1830 — 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 $374,300 (1.5% 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 1830 — 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: 1.09% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.21%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $382,298
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 Queen St	0.00mi	6/2.0	2,303 (0%)	1mo	$400,000	$174	99
214 High St	0.12mi	6/2.0	2,338 (+2%)	15mo	$375,000	$160	80
29 Lincoln Pl	0.74mi	6/2.0	2,288 (-1%)	3mo	$360,000	$157	62
287 East Rd	0.63mi	6/2.0	2,376 (+3%)	7mo	$410,000	$173	60
46 Union St	0.70mi	6/2.0	2,400 (+4%)	2mo	$360,000	$150	59
52 & 54 Sigourney St	0.61mi	7/3.0 (+1)	2,284 (-1%)	7mo	$330,000	$144	55
20 George St	0.60mi	5/3.0 (-1)	2,352 (+2%)	11mo	$390,000	$166	50
196 Goodwin St	0.53mi	5/3.0 (-1)	2,092 (-9%)	7mo	$420,000	$201	46
111 Federal St	0.71mi	5/3.0 (-1)	2,112 (-8%)	7mo	$405,000	$192	38
72 Stewart St	0.73mi	6/3.0	2,534 (+10%)	10mo	$415,000	$164	37
193 Woodland St	0.60mi	5/3.0 (-1)	2,591 (+12%)	11mo	$595,000	$230	33

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: -2.5%
• Equity multiple: 0.90×
• Total profit: $-10,443
• Equity at exit: $56,659

10-year hold

• IRR: 9.7%
• Equity multiple: 1.83×
• Total profit: $88,164
• Equity at exit: $32,855

Cash invested: $106,400 (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: 15.2×

Monthly cashflow live

• Estimated rent: $4,157 high
• Mortgage (P&I): −$1,993
• Tax from tax record: −$493 /mo · $5,920/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$873
• Net cashflow: $640

Break-even live

Break-even rent $3,347

Max offer price $380,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,156
Total (2 units)			$4,157

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: $95,000
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-04-07
   status Under Contract
2. 2026-03-25
   status Active
3. 2026-03-23
   historical
4. 2026-03-12
   listed $380,000 Active
5. 2026-02-02
   soldstatus $284,000
6. 2026-01-30
   soldstatus $284,000 Closed 401-char remark

   Show marketing remark (401 chars)

   This spacious Federal Hill two unit property is ideal for investment or owner occupied. Three beds, 1 bath in each unit. Close to Bristol Health, ESPN, and Bristol's thriving downtown. Sale is subject to Probate Approval, Being sold AS IS, Where IS. Interior needs a little TLC. New roof- April 2025. First floor is oil heat and Second floor is gas heat. Parties are responsible for all due diligence.

7. 2026-01-10
   status Under Contract 401-char remark

   Show marketing remark (401 chars)

   This spacious Federal Hill two unit property is ideal for investment or owner occupied. Three beds, 1 bath in each unit. Close to Bristol Health, ESPN, and Bristol's thriving downtown. Sale is subject to Probate Approval, Being sold AS IS, Where IS. Interior needs a little TLC. New roof- April 2025. First floor is oil heat and Second floor is gas heat. Parties are responsible for all due diligence.

8. 2026-01-06
   status Active 401-char remark

   Show marketing remark (401 chars)

   This spacious Federal Hill two unit property is ideal for investment or owner occupied. Three beds, 1 bath in each unit. Close to Bristol Health, ESPN, and Bristol's thriving downtown. Sale is subject to Probate Approval, Being sold AS IS, Where IS. Interior needs a little TLC. New roof- April 2025. First floor is oil heat and Second floor is gas heat. Parties are responsible for all due diligence.

9. 2025-12-17
   status Under Contract 401-char remark

   Show marketing remark (401 chars)

   This spacious Federal Hill two unit property is ideal for investment or owner occupied. Three beds, 1 bath in each unit. Close to Bristol Health, ESPN, and Bristol's thriving downtown. Sale is subject to Probate Approval, Being sold AS IS, Where IS. Interior needs a little TLC. New roof- April 2025. First floor is oil heat and Second floor is gas heat. Parties are responsible for all due diligence.

10. 2025-12-01
    listed $318,888 Active 401-char remark

    Show marketing remark (401 chars)

    This spacious Federal Hill two unit property is ideal for investment or owner occupied. Three beds, 1 bath in each unit. Close to Bristol Health, ESPN, and Bristol's thriving downtown. Sale is subject to Probate Approval, Being sold AS IS, Where IS. Interior needs a little TLC. New roof- April 2025. First floor is oil heat and Second floor is gas heat. Parties are responsible for all due diligence.

11. 2025-08-28
    historical
12. 2025-08-20
    listed $328,888 Active
13. 1997-09-25
    soldstatus $43,560

ⓘ 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: $5,920 · $493/mo
• Projected year-2 tax: $7,026 · $586/mo
• Expected delta: +$1,106/yr (+$92/mo · 18.7%)

ⓘ 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 · 17 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: $49,884
• − Mortgage interest: −$21,286
• − Property taxes: −$5,920
• − Insurance: −$1,900
• − Repairs & maintenance: −$3,991
• − Management: −$3,991
• − Depreciation: −$11,055
• Taxable income: $1,742
• Est. tax owed @ 24.0%: −$418
• After-tax cash flow: $7,257/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

+772.4% since first listed

13 events — show timeline

• 2026-04-07 Pending — Smart MLS
• 2026-03-25 Relisted — Smart MLS
• 2026-03-23 Listing Removed — Smart MLS
• 2026-03-12 Listed $380,000 Smart MLS
• 2026-02-02 Sold (Public Records) $284,000 Public Records
• 2026-01-30 Sold (MLS) $284,000 Smart MLS
• 2026-01-10 Pending — Smart MLS
• 2026-01-06 Relisted — Smart MLS
• 2025-12-17 Pending — Smart MLS
• 2025-12-01 Listed $318,888 Smart MLS
• 2025-08-28 Listing Removed — Smart MLS
• 2025-08-20 Listed $328,888 Smart MLS
• 1997-09-25 Sold (Public Records) $43,560 Public Records

Property tax history

+3.1%/yr

Latest (2025): $5,920 · +6.0% YoY. Source: county tax records.