484 Church St · New Britain, CT 06051

$459,900

4 bd · 3.0 ba · 2,620 sqft · MultiFamily public records · 73 Days on market

Built 1895 5,662 sqft lot Est $348k · 32% over

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

BACK ON THE MARKET!!! THIS THREE FAMILY HOME HAS HAS A TOTAL OF FIVE BEDROOMS AND THREE BATHROOMS WITH OVER 2700 SQ FT OF LIVING SPACE. INDIVIDUAL PORCHES FOR EACH UNIT AND FULL BASEMENT FOR ADDED STORAGE. LOCATED CLOSE TO SHOPPING AND RESTURANTS. HUD Home. Sold “AS IS” by electronic bid only. Property Available 04-23-2021. Bids due by 04-27-2021 11:59 PM Central Time then daily until sold. FHA Case #061-341110. Uninsurable. Eligible for FHA 203K. Buyer to verify all info. Equal Housing Opportunity. Finance Terms: Cash, FHA, and Conventional

Key facts

• Extensively updated
• Fully renovated
• Solid rental history

Tags

• FULLY RENOVATED
• STRONG RENTAL INCOME
• TURNKEY CONDITION
• SEPARATE LIVING AREAS
• SOLID RENTAL HISTORY
• EXTENSIVELY UPDATED

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $460k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $739/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $460k).
• Recommended offer: $432k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 4.4% in New Britain — 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 74/100 on livability (#67 in CT, #4,936 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: crime D, employment D, schools F.
• New Britain School District (suburban): math 6% / reading 17% proficiency, ranked #153 of 153 in CT (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.6%/yr); 63 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $6,831/mo this rent would consume 161% of the median local household income ($51k/yr) (locally 2100% 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 $49k of equity ($3k loan paydown + $46k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $129k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$79k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($432k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 21y 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.
• Current owner paid $152k; list at $460k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $432,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is D 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?
9. 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.
10. 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.
11. 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: 12.08%
• Cash-on-cash: 20.66%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $348,460
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
484 Church St	0.00mi	5/3.0 (+1)	2,620 (0%)	0mo	$430,000	$164	95
411 Ellis St	0.68mi	5/3.0 (+1)	2,688 (+3%)	2mo	$450,000	$167	58
56-58 Austin St	0.38mi	4/2.0	2,766 (+6%)	14mo	$365,000	$132	58
15 Noble St	0.29mi	4/4.0	2,918 (+11%)	13mo	$301,000	$103	53
498 Stanley St	0.43mi	5/3.0 (+1)	2,466 (-6%)	18mo	$290,000	$118	50
267 Chapman St	0.42mi	5/3.0 (+1)	2,318 (-12%)	8mo	$360,000	$155	49
113 Fairview St	0.19mi	5/3.0 (+1)	2,930 (+12%)	22mo	$250,000	$85	48
257 Whiting St	0.41mi	5/2.0 (+1)	2,943 (+12%)	16mo	$392,500	$133	38

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

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 38.1%
• Equity multiple: 3.89×
• Total profit: $371,772
• Equity at exit: $414,314

10-year hold

• IRR: 31.8%
• Equity multiple: 8.36×
• Total profit: $948,119
• Equity at exit: $893,485

Cash invested: $128,772 (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 06051

• Home prices YoY: 9.0%
• Rents YoY: -0.6%
• Active inventory: 63
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $6,831 medium
• Mortgage (P&I): −$2,412
• Tax from tax record: −$576 /mo · $6,911/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,435
• Net cashflow: $2,217

Break-even live

Break-even rent $4,024

Max offer price $459,900

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$6,831
Total (3 units)			$6,831

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: $114,975
• Closing costs: $13,797
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 Fairview St Unit 1 New Britain, CT	3.0	1.0	3596	$1,550	$0.43	43d	1	0.08mi
402 Church St New Britain, CT	3.0	1.0	3744	$2,285	$0.61	23d	1	0.17mi
281 Chestnut St New Britain, CT	3.0	1.5	3468	$1,900	$0.55	23d	1	0.22mi
24 Rocky Hill Ave New Britain, CT	3.0	1.0	2916	$1,650	$0.57	43d	1	0.52mi
423 Stanley St Unit 1 New Britain, CT	3.0	1.0	3712	$2,300	$0.62	43d	1	0.56mi
45 Union St New Britain, CT	5.0	2.0	2060	$2,800	$1.36	23d	1	0.60mi
341 Stanley St New Britain, CT	3.0	1.0	3460	$1,700	$0.49	23d	1	0.70mi
24 Acorn St New Britain, CT	3.0	1.0	2444	$2,000	$0.82	23d	1	0.87mi
271 Glen St New Britain, CT	3.0	1.0	2230	$1,950	$0.87	1d	1	1.01mi
412 S Main St Unit 1st floor New Britain, CT	3.0	1.0	1863	$1,975	$1.06	1d	1	1.05mi
1366 Stanley St New Britain, CT	4.0	1.0	1944	$2,400	$1.23	43d	1	1.13mi
125 Columbia St Unit 2FF New Britain, CT	3.0	1.0	3384	$1,600	$0.47	16d	1	1.26mi
89 Vance St New Britain, CT	3.0	2.0	2944	$2,040	$0.69	1d	1	1.49mi

Listing history 29 events

1. 2026-04-25
   status Under Contract
2. 2026-02-11
   listed $459,900 Active
3. 2026-02-10
   historical
4. 2025-10-27
   status Active
5. 2025-10-27
   status Under Contract
6. 2025-10-07
   listed $460,000 Active
7. 2021-05-28
   soldstatus $152,000 Closed 559-char remark

   Show marketing remark (559 chars)

   BACK ON THE MARKET!!! THIS THREE FAMILY HOME HAS HAS A TOTAL OF FIVE BEDROOMS AND THREE BATHROOMS WITH OVER 2700 SQ FT OF LIVING SPACE. INDIVIDUAL PORCHES FOR EACH UNIT AND FULL BASEMENT FOR ADDED STORAGE. LOCATED CLOSE TO SHOPPING AND RESTURANTS. HUD Home. Sold “AS IS” by electronic bid only. Property Available 04-23-2021. Bids due by 04-27-2021 11:59 PM Central Time then daily until sold. FHA Case #061-341110. Uninsurable. Eligible for FHA 203K. Buyer to verify all info. Equal Housing Opportunity. Finance Terms: Cash, FHA, and Conventional

8. 2021-03-11
   listed $140,000 Active 559-char remark

   Show marketing remark (559 chars)

   BACK ON THE MARKET!!! THIS THREE FAMILY HOME HAS HAS A TOTAL OF FIVE BEDROOMS AND THREE BATHROOMS WITH OVER 2700 SQ FT OF LIVING SPACE. INDIVIDUAL PORCHES FOR EACH UNIT AND FULL BASEMENT FOR ADDED STORAGE. LOCATED CLOSE TO SHOPPING AND RESTURANTS. HUD Home. Sold “AS IS” by electronic bid only. Property Available 04-23-2021. Bids due by 04-27-2021 11:59 PM Central Time then daily until sold. FHA Case #061-341110. Uninsurable. Eligible for FHA 203K. Buyer to verify all info. Equal Housing Opportunity. Finance Terms: Cash, FHA, and Conventional

9. 2015-12-15
   historical
10. 2014-09-06
    listed $79,900
11. 2014-09-05
    historical
12. 2014-01-12
    listed $99,900
13. 2009-02-17
    soldstatus $220,000
14. 2007-11-15
    soldstatus $142,000
15. 2007-07-16
    listed $149,900
16. 2007-05-07
    soldstatus $161,000
17. 2006-12-19
    historical
18. 2006-09-19
    listed $279,900
19. 2006-07-07
    soldstatus $179,900
20. 2006-04-20
    historical
21. 2006-02-20
    listed $229,900
22. 2006-01-30
    soldstatus $203,000
23. 2005-10-15
    listed $179,900
24. 2005-03-01
    soldstatus $91,000
25. 2005-01-09
    listed $81,900
26. 2003-08-11
    soldstatus $134,000
27. 2001-12-28
    soldstatus $54,000
28. 1999-12-02
    soldstatus $110,000
29. 1988-02-03
    soldstatus $165,000

ⓘ 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: $6,911 · $576/mo
• Projected year-2 tax: $8,376 · $698/mo
• Expected delta: +$1,465/yr (+$122/mo · 21.2%)

ⓘ 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 ≥97°F today · 15 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: $81,972
• − Mortgage interest: −$25,762
• − Property taxes: −$6,911
• − Insurance: −$2,300
• − Repairs & maintenance: −$6,558
• − Management: −$6,558
• − Depreciation: −$13,379
• Taxable income: $20,506
• Est. tax owed @ 24.0%: −$4,921
• After-tax cash flow: $21,685/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: New Britain School District
• NCES district ID: 0902670
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $40,827
• Composite: 9.95/100
• National rank: #9816
• State rank: #153 of 153 in CT

Livability — New Britain

• Score: 74/100
• State rank: #67
• US rank: #4936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Britain, CT
• County: Hartford County · 754,208 people
• City population: 66,322
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 29,548
• Household income: $51,022
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 2100.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 30% Two or more races 17% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 40% Dominican 4%
• Common ancestry: Romanian 7% Lithuanian 6% Slovak 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 39% Russian/Polish/Slavic 6% Arabic 3%

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: ▲ 31.52%
• Current HPI: 382.7816
• Rent YoY: ▼ -0.58%
• 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

+178.7% since first listed

29 events — show timeline

• 2026-04-25 Pending — Smart MLS
• 2026-02-11 Listed $459,900 Smart MLS
• 2026-02-10 Listing Removed — Smart MLS
• 2025-10-27 Relisted — Smart MLS
• 2025-10-27 Pending — Smart MLS
• 2025-10-07 Listed $460,000 Smart MLS
• 2021-05-28 Sold (MLS) $152,000 Smart MLS
• 2021-03-11 Listed $140,000 Smart MLS
• 2015-12-15 Listing Removed — Smart MLS
• 2014-09-06 Listed $79,900 Smart MLS
• 2014-09-05 Listing Removed — Smart MLS
• 2014-01-12 Listed $99,900 Smart MLS
• 2009-02-17 Sold (Public Records) $220,000 Public Records
• 2007-11-15 Sold (MLS) $142,000 Smart MLS
• 2007-07-16 Listed $149,900 Smart MLS
• 2007-05-07 Sold (Public Records) $161,000 Public Records
• 2006-12-19 Listing Removed — Smart MLS
• 2006-09-19 Listed $279,900 Smart MLS
• 2006-07-07 Sold (MLS) $179,900 Smart MLS
• 2006-04-20 Listing Removed — Smart MLS
• 2006-02-20 Listed $229,900 Smart MLS
• 2006-01-30 Sold (Public Records) $203,000 Public Records
• 2005-10-15 Listed $179,900 Smart MLS
• 2005-03-01 Sold (MLS) $91,000 Smart MLS
• 2005-01-09 Listed $81,900 Smart MLS
• 2003-08-11 Sold (Public Records) $134,000 Public Records
• 2001-12-28 Sold (Public Records) $54,000 Public Records
• 1999-12-02 Sold (Public Records) $110,000 Public Records
• 1988-02-03 Sold (Public Records) $165,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $6,911 · -1.0% YoY. Source: county tax records.