40 Concord St · Bristol, CT 06010

$184,900

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 3 Days on market

Built 1900 9,147 sqft lot Est $269k · 31% 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 +13.6/30.0
• 1% rule +4.3/10.0
• DSCR +4.1/10.0
• 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

Listing remarks MLS

Ranch style home, enjoy first floor living, great home for first time home buyers or if your downsizing, hardwood floors under carpet, 3 bedrooms, newer natural gas heating system, vinyl siding, nice location, close to shopping!

Key facts

• Covered front porch
• Fenced yard
• Ranch style home

Tags

• RANCH STYLE HOME
• 1 LEVEL LIVING
• HARDWOOD FLOORS
• FENCED YARD
• COVERED FRONT PORCH
• HEATED LOWER LEVEL

Property features AI

Exterior

• Parking: Paved driveway with off-street parking; Approximately 4 total parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas domestic hot water; Natural gas heating; Ridge vents (energy feature)
• Home design: Single-family home
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof
• Exterior features: Vinyl siding; Shed; Gutters; Exterior lighting; Partially fenced yard with wood and chain-link fencing; Lightly wooded, level lot; Private paved driveway

Interior

• Kitchen: Range hood; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (natural gas); Window cooling unit(s)
• Interior features: Cable available; Full unfinished heated basement with interior access, concrete floor, storage and full hatchway; Attic with pull-down stairs
• Laundry & utility: Laundry room on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $12 ($139/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (6.5% below list).
• Recommended offer: $173k (6.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Stafford School (math 22% / reading 32%, grade F, #401 of 553 statewide, top 74%, 346 students, 59% FRL); Chippens Hill Middle School (math 26% / reading 50%, grade F, #111 of 175 statewide, top 63%, 580 students, 53% 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 53% FRL vs 37% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 222 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,880 (6.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.93% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $269,244
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51 Sharon St	0.17mi	3/1.5	936 (-4%)	7mo	$305,000	$326	78
81 Birge Rd	0.46mi	4/1.0 (+1)	972 (0%)	0mo	$307,500	$316	73
77 Lewis St	0.11mi	2/1.0 (-1)	1,032 (+6%)	21mo	$180,000	$174	62
56 Maheu St	0.71mi	3/1.5	994 (+2%)	7mo	$305,000	$307	55
81 Hoover Ave	0.41mi	4/1.0 (+1)	1,114 (+15%)	1mo	$300,000	$269	51
53 Boivin St	0.70mi	3/1.5	994 (+2%)	14mo	$320,000	$322	50
156 Moody St	0.57mi	2/1.0 (-1)	948 (-2%)	19mo	$265,000	$280	49
54 Vance Rd	0.69mi	3/1.0	1,114 (+15%)	8mo	$300,000	$269	37
49 Merriman St	0.74mi	2/1.0 (-1)	1,040 (+7%)	18mo	$288,000	$277	34
40 Roberts St	0.53mi	2/1.0 (-1)	1,070 (+10%)	24mo	$250,000	$234	34
81 Jerome Ave	0.57mi	3/1.5	1,093 (+12%)	21mo	$280,000	$256	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: -13.0%
• Equity multiple: 0.52×
• Total profit: $-24,859
• Equity at exit: $27,569

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-1,893
• Equity at exit: $15,987

Cash invested: $51,772 (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: 222
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,729 high
• Mortgage (P&I): −$970
• Tax from tax record: −$308 /mo · $3,690/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $12

Break-even live

Break-even rent $1,714

Max offer price $184,900

Occupancy floor 94%

Sensitivity live

Price	-10% $116	-5% $64	+0% $12	+5% $-41	+10% $-93
Rent	-10% $-125	-5% $-57	+0% $12	+5% $80	+10% $148
Rate	-1.0pp $105	-0.5pp $59	base $12	+0.5pp $-36	+1.0pp $-85

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
74 Burlington Ave Bristol, CT	2.0	1.0	976	$1,300	$1.33	46d	1	0.36mi
65 Wooding St Unit 2 Bristol, CT	2.0	1.0	1000	$1,700	$1.70	46d	1	0.38mi
4 Willoughby St Unit 1ST Bristol, CT	3.0	1.0	880	$1,800	$2.05	46d	1	0.41mi
56 Ingraham Pl Unit 2 Bristol, CT	2.0	1.0	800	$1,800	$2.25	18d	1	0.48mi
56 Ingraham Pl Unit 3 Bristol, CT	3.0	1.0	1000	$2,100	$2.10	18d	1	0.48mi
11 Roberts St Unit 2 Bristol, CT	2.0	1.0	750	$1,350	$1.80	46d	1	0.52mi
175 Goodwin St Unit 2nd Floor Bristol, CT	2.0	1.0	1100	$1,450	$1.32	0d	1	0.71mi
443 N Main St Unit 2A Bristol, CT	2.0	1.0	800	$1,800	$2.25	46d	1	0.74mi
435 N Main St Unit 5 Bristol, CT	2.0	1.0	800	$1,400	$1.75	23d	1	0.75mi
431 N Main St Unit 12 Bristol, CT	2.0	1.0	850	$1,595	$1.88	23d	1	0.75mi
431 N Main St Unit 16 Bristol, CT	2.0	1.0	950	$1,695	$1.78	46d	1	0.75mi
431 N Main St Unit 8 Bristol, CT	2.0	1.0	850	$1,595	$1.88	46d	1	0.75mi
425 N Main St Bristol, CT	2.0	1.0	900	$1,595	$1.77	46d	1	0.76mi
411 N Main St #15 Bristol, CT	2.0	1.0	875	$1,595	$1.82	25d	1	0.78mi
411 N Main St Unit 8 Bristol, CT	2.0	1.0	1012	$1,595	$1.58	46d	1	0.78mi
9B Daniel Rd Unit 9B Bristol, CT	3.0	1.0	786	$2,150	$2.74	25d	1	0.89mi
556 King St Bristol, CT	1.0–2.0	1.0	712	$1,400	$1.96	0d	1	0.90mi
407 West St Unit 2nd Floor Bristol, CT	3.0	1.0	1100	$1,425	$1.30	46d	1	0.97mi
403 West St Unit 1st FL Bristol, CT	2.0	1.0	1044	$1,375	$1.32	46d	1	0.98mi
130 N Main St Unit 130-310 Bristol, CT	2.0	1.0	1101	$2,300	$2.09	46d	1	1.05mi
34 Center St Unit 2 Bristol, CT	2.0	1.0	900	$1,350	$1.50	46d	1	1.07mi
57 Kelley St Unit 3 Bristol, CT	2.0	1.0	952	$1,550	$1.63	12d	1	1.07mi
44 Kelley St Unit 1 Bristol, CT	2.0	1.0	762	$1,400	$1.84	25d	1	1.08mi
218 West St Unit B1 Bristol, CT	2.0	1.0	1000	$1,525	$1.52	25d	1	1.21mi
218 West St Unit B2 Bristol, CT	2.0	1.0	1000	$1,550	$1.55	25d	1	1.21mi
130 Main St Unit 210 Bristol, CT	2.0	2.0	1101	$2,300	$2.09	46d	1	1.28mi
130 Main St Unit 310 Bristol, CT	2.0	1.0	1101	$2,300	$2.09	46d	1	1.28mi
252 Blakeslee St #4 Bristol, CT	2.0	1.5	800	$1,800	$2.25	46d	1	1.31mi
25 Pratt St Unit 3 Bristol, CT	2.0	1.0	1068	$1,375	$1.29	25d	1	1.40mi
50 Hillside Pl Unit 3 Bristol, CT	3.0	1.0	858	$1,600	$1.86	46d	1	1.44mi

Listing history 4 events

1. 2026-06-15
   status $184,900 Under Contract 3 DOM
2. 2026-06-15
   days on market $184,900 Active 3 DOM
3. 2026-06-13
   remarks 699-char remark
4. 2026-06-13
   listed $184,900 Active 1 DOM

ⓘ 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: $3,690 · $308/mo
• Projected year-2 tax: $3,823 · $319/mo
• Expected delta: +$133/yr (+$11/mo · 3.6%)

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

Taxation est. · year 1

• Rental income: $20,746
• − Mortgage interest: −$10,357
• − Property taxes: −$3,690
• − Insurance: −$924
• − Repairs & maintenance: −$1,660
• − Management: −$1,660
• − Depreciation: −$5,379
• Taxable loss: −$2,924
• Est. tax savings @ 24.0%: +$702
• After-tax cash flow: $841/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

+32.2% since first listed

11 events — show timeline

• 2026-06-12 Listed $184,900 Smart MLS
• 2022-12-08 Sold (Public Records) $172,000 Public Records
• 2022-12-08 Sold (MLS) $172,000 Smart MLS
• 2022-12-06 Pending — Smart MLS
• 2022-10-30 Contingent — Smart MLS
• 2022-10-21 Listed $169,900 Smart MLS
• 2013-08-14 Listing Removed — Smart MLS
• 2013-04-14 Listed $150,000 Smart MLS
• 2007-11-26 Sold (Public Records) $145,000 Public Records
• 2007-11-21 Sold (MLS) $145,000 Smart MLS
• 2007-08-18 Listed $139,900 Smart MLS

Property tax history

+1.9%/yr

Latest (2025): $3,690 · +6.0% YoY. Source: county tax records.