16-18 Orange St · Hartford, CT 06106

$450,000

9 bd · 3.0 ba · 3,168 sqft · MultiFamily public records · 8 Days on market

Built 1910 3,484 sqft lot $142/sqft · 37% below area Est $717k · 37% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Appreciation +5.7/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• 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 MLS

Welcome to one of Hartford's finest! This exceptional 3-family property is the perfect opportunity for investors or owner-occupants. Each unit features 3 spacious bedrooms, 1 bathroom, and a dedicated office space or additional 4th bedroom- giving tenants the room and flexibility they need while maximizing your rental potential. The 1st and 2nd floor units have been remodeled throughout, offering modern finishes and move-in ready appeal. Newer gas heating systems and water heaters provide peace of mind and long-term savings, while abundant closet and storage space ensures comfort for all residents. The property offers both on and off-street parking, adding everyday convenience for tenants. Ideally situated within walking distance of Trinity College and Pope Park, and just minutes from Charter Oak Marketplace, Home Depot, Parkville Market, Downtown Hartford and West Hartford. Easy access to bus lines, parks, and a wide variety of restaurants makes this location second to none. Whether you're looking to grow your portfolio or live in one unit while generating income from the others, this property checks every box. Schedule your showing today!

Key facts

• 3,484 sq ft lot
• Built 1910
• Listed 8 days

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $744/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $450k).

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: Kennelly School (math 7% / reading 12%, grade F, #522 of 553 statewide, top 95%, 598 students, 85% FRL); Mcdonough Middle School (math 0% / reading 6%, grade F, #175 of 175 statewide, top 100%, 317 students, 83% FRL) — zoned schools at 84% FRL track the district average.
• Market conditions: Rents rising (+2.4%/yr); 61 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $6,722/mo this rent would consume 174% of the median local household income ($46k/yr) (locally 3400% 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 $9k of equity ($3k loan paydown + $6k appreciation (1.4% local appreciation)).
• At projected returns (1.4% appreciation + 2.4% rent growth), your $126k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $171k; list at $450k implies a 163% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $450,000

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 1910 — 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: 1.49% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.26%
• DSCR: 1.95
• GRM: 5.6

CMA / ARV

• ARV (median comp): $716,670
• List price: $450,000
• Delta: -37.21%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

1.38% appreciation · 2.37% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 2.23×
• Total profit: $154,781
• Equity at exit: $162,476

10-year hold

• IRR: 25.8%
• Equity multiple: 4.14×
• Total profit: $395,970
• Equity at exit: $222,935

Cash invested: $126,000 (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 06106

• Home prices YoY: 0.4%
• Rents YoY: 2.4%
• Active inventory: 61
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $6,722 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$530 /mo · $6,365/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,412
• Net cashflow: $2,233

Break-even live

Break-even rent $3,896

Max offer price $450,000

Occupancy floor 62%

Sensitivity live

Price	-10% $2,487	-5% $2,360	+0% $2,233	+5% $2,105	+10% $1,978
Rent	-10% $1,702	-5% $1,967	+0% $2,233	+5% $2,498	+10% $2,764
Rate	-1.0pp $2,459	-0.5pp $2,347	base $2,233	+0.5pp $2,116	+1.0pp $1,997

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,723
Total (3 units)			$6,722

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-02
   status Under Contract 1158-char remark

   Show marketing remark (1158 chars)

   Welcome to one of Hartford's finest! This exceptional 3-family property is the perfect opportunity for investors or owner-occupants. Each unit features 3 spacious bedrooms, 1 bathroom, and a dedicated office space or additional 4th bedroom- giving tenants the room and flexibility they need while maximizing your rental potential. The 1st and 2nd floor units have been remodeled throughout, offering modern finishes and move-in ready appeal. Newer gas heating systems and water heaters provide peace of mind and long-term savings, while abundant closet and storage space ensures comfort for all residents. The property offers both on and off-street parking, adding everyday convenience for tenants. Ideally situated within walking distance of Trinity College and Pope Park, and just minutes from Charter Oak Marketplace, Home Depot, Parkville Market, Downtown Hartford and West Hartford. Easy access to bus lines, parks, and a wide variety of restaurants makes this location second to none. Whether you're looking to grow your portfolio or live in one unit while generating income from the others, this property checks every box. Schedule your showing today!

2. 2026-04-25
   listed $450,000 Active 1158-char remark

   Show marketing remark (1158 chars)

   Welcome to one of Hartford's finest! This exceptional 3-family property is the perfect opportunity for investors or owner-occupants. Each unit features 3 spacious bedrooms, 1 bathroom, and a dedicated office space or additional 4th bedroom- giving tenants the room and flexibility they need while maximizing your rental potential. The 1st and 2nd floor units have been remodeled throughout, offering modern finishes and move-in ready appeal. Newer gas heating systems and water heaters provide peace of mind and long-term savings, while abundant closet and storage space ensures comfort for all residents. The property offers both on and off-street parking, adding everyday convenience for tenants. Ideally situated within walking distance of Trinity College and Pope Park, and just minutes from Charter Oak Marketplace, Home Depot, Parkville Market, Downtown Hartford and West Hartford. Easy access to bus lines, parks, and a wide variety of restaurants makes this location second to none. Whether you're looking to grow your portfolio or live in one unit while generating income from the others, this property checks every box. Schedule your showing today!

3. 2026-04-17
   historical $450,000 1158-char remark

   Show marketing remark (1158 chars)

   Welcome to one of Hartford's finest! This exceptional 3-family property is the perfect opportunity for investors or owner-occupants. Each unit features 3 spacious bedrooms, 1 bathroom, and a dedicated office space or additional 4th bedroom- giving tenants the room and flexibility they need while maximizing your rental potential. The 1st and 2nd floor units have been remodeled throughout, offering modern finishes and move-in ready appeal. Newer gas heating systems and water heaters provide peace of mind and long-term savings, while abundant closet and storage space ensures comfort for all residents. The property offers both on and off-street parking, adding everyday convenience for tenants. Ideally situated within walking distance of Trinity College and Pope Park, and just minutes from Charter Oak Marketplace, Home Depot, Parkville Market, Downtown Hartford and West Hartford. Easy access to bus lines, parks, and a wide variety of restaurants makes this location second to none. Whether you're looking to grow your portfolio or live in one unit while generating income from the others, this property checks every box. Schedule your showing today!

4. 2018-04-25
   soldstatus $171,000
5. 1987-06-01
   soldstatus $139,900

ⓘ 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: $6,365 · $530/mo
• Projected year-2 tax: $7,998 · $666/mo
• Expected delta: +$1,632/yr (+$136/mo · 25.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,664
• − Mortgage interest: −$25,207
• − Property taxes: −$6,365
• − Insurance: −$2,250
• − Repairs & maintenance: −$6,453
• − Management: −$6,453
• − Depreciation: −$13,091
• Taxable income: $20,845
• Est. tax owed @ 24.0%: −$5,003
• After-tax cash flow: $21,789/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): 36,322
• Household income: $46,304
• Rent vs Own: 76.7% rent · 23.3% own
• Severe rent burden: 3400.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 25% Black 18% White 15% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 42% Dominican 6%
• Common ancestry: Lithuanian 2% Russian 1% Romanian 1%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 46% English-only · Spanish 47% Other Indo-European 3% Other Asian/Pacific 1%

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: ▲ 1.38%
• Current HPI: 314.0899
• Rent YoY: ▲ 2.37%
• 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

+221.7% since first listed

5 events — show timeline

• 2026-05-02 Pending — Smart MLS
• 2026-04-25 Listed $450,000 Smart MLS
• 2026-04-17 Coming Soon $450,000 Smart MLS
• 2018-04-25 Sold (Public Records) $171,000 Public Records
• 1987-06-01 Sold (Public Records) $139,900 Public Records

Property tax history

+4.0%/yr

Latest (2025): $6,365 · +0.0% YoY. Source: county tax records.