32-34 Bedford St · Hartford, CT 06120

$599,999

18 bd · 7.2 ba · 7,278 sqft · MultiFamily · 39 Days on market

Built 1910 Fair condition 4,791 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.2/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 6 units. estimate disagrees with records

Listing remarks MLS

Excellent opportunity to acquire a well-performing 6-unit multifamily property located just minutes from Downtown Hartford and major highways. This three-story brick asset offers a strong unit mix consisting of (1) 2-bedroom, 1-bath unit, (3) 3-bedroom, 1-bath units, and (2) 4-bedroom, 1-bath units. Recent capital improvements include updated kitchens and bathrooms, newer roof, newer boiler and hot water tank. Heat and hot water are currently landlord-paid, while all electric utilities are separately metered and tenant-paid. Opportunity to increase rental income through unit turnovers.

Key facts

• Hot water tank
• Strong unit mix
• Newer boiler

Tags

• MULTIFAMILY PROPERTY
• STRONG UNIT MIX
• UPDATED KITCHENS
• NEWER ROOF
• NEWER BOILER
• HOT WATER TANK

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 3×3bd/1ba + 2×4bd/1ba units multifamily listed at $600k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $7k ($83k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $600k).
• Recommended offer: $582k (3.0% below list) — sets the bar for market timing.

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: schools D-, 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.
• Market conditions: Rents rising (+2.8%/yr); 21 active listings in the ZIP; lower-income renter base — watch delinquency; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $14,050/mo this rent would consume 484% of the median local household income ($35k/yr) (locally 1435% 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 $47k of equity ($4k loan paydown + $43k appreciation (7.1% local appreciation)).
• At projected returns (7.1% appreciation + 2.8% rent growth), your $168k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$75k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($582k) is reasonable based on typical stale-listing flexibility.

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 $581,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 2.34% ✓
• Cap rate: 20.20%
• Cash-on-cash: 49.66%
• DSCR: 3.21
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.12% appreciation · 2.83% rent growth · sell at horizon

5-year hold

• IRR: 59.7%
• Equity multiple: 4.90×
• Total profit: $654,459
• Equity at exit: $420,343

10-year hold

• IRR: 55.6%
• Equity multiple: 10.32×
• Total profit: $1,566,038
• Equity at exit: $802,626

Cash invested: $168,000 (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 06120

• Home prices YoY: 2.4%
• Rents YoY: 2.8%
• Active inventory: 21
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $14,050 high
• Mortgage (P&I): −$3,146
• Tax est. 1.5%: −$750 /mo · $9,000/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,950
• Net cashflow: $6,953

Break-even live

Break-even rent $5,249

Max offer price $599,999

Occupancy floor 46%

Sensitivity live

Price	-10% $7,368	-5% $7,160	+0% $6,953	+5% $6,746	+10% $6,538
Rent	-10% $5,843	-5% $6,398	+0% $6,953	+5% $7,508	+10% $8,063
Rate	-1.0pp $7,255	-0.5pp $7,106	base $6,953	+0.5pp $6,798	+1.0pp $6,639

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$2,115
▸ 3× units	3	1	$6,909
▸ 2× units	4	1	$5,026
Total (6 units)			$14,050

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-10
   status $599,999 Under Contract 39 DOM
2. 2026-06-09
   days on market $599,999 Active 39 DOM
3. 2026-06-08
   days on market $599,999 Active 38 DOM
4. 2026-06-07
   days on market $599,999 Active 37 DOM
5. 2026-06-05
   days on market $599,999 Active 34 DOM
6. 2026-06-03
   days on market $599,999 Active 33 DOM
7. 2026-06-02
   days on market $599,999 Active 32 DOM
8. 2026-06-01
   days on market $599,999 Active 31 DOM
9. 2026-05-31
   days on market $599,999 Active 30 DOM
10. 2026-04-30
    listed $599,999 Active 592-char remark

    Show marketing remark (592 chars)

    Excellent opportunity to acquire a well-performing 6-unit multifamily property located just minutes from Downtown Hartford and major highways. This three-story brick asset offers a strong unit mix consisting of (1) 2-bedroom, 1-bath unit, (3) 3-bedroom, 1-bath units, and (2) 4-bedroom, 1-bath units. Recent capital improvements include updated kitchens and bathrooms, newer roof, newer boiler and hot water tank. Heat and hot water are currently landlord-paid, while all electric utilities are separately metered and tenant-paid. Opportunity to increase rental income through unit turnovers.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% 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: $168,600
• − Mortgage interest: −$33,609
• − Property taxes: −$9,000
• − Insurance: −$3,000
• − Repairs & maintenance: −$13,488
• − Management: −$13,488
• − Depreciation: −$17,455
• Taxable income: $78,560
• Est. tax owed @ 24.0%: −$18,854
• After-tax cash flow: $64,582/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.

Condition & rehab AI · 4 photos

Fair 45/100 Moderate rehab

This 6-unit multifamily property requires moderate renovations to update kitchens and bathrooms, improve landscaping, and paint interior walls. The property has a good roof and HVAC system, but the overall condition is fair. Upgrading these areas will significantly increase its resale and rental value.

Repairs flagged

• Major kitchen appliances — outdated and worn
• Major bathroom fixtures — dated and worn
• Major landscaping — overgrown and debris present

Value-add opportunities

• Both update kitchen appliances — modernizing kitchen will attract more tenants and buyers
• Both update bathroom fixtures — modernizing bathrooms will attract more tenants and buyers
• Both landscaping and curb appeal — improved landscaping will increase curb appeal and attract more tenants and buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and worn	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
landscaping · overgrown and debris present	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both update kitchen appliances — modernizing kitchen will attract more tenants and buyers ↑
• Both update bathroom fixtures — modernizing bathrooms will attract more tenants and buyers ↑
• Both landscaping and curb appeal — improved landscaping will increase curb appeal and attract more tenants and buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 13,926
• Household income: $34,830
• Rent vs Own: 87.2% rent · 12.8% own
• Severe rent burden: 1435.0

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 46% Black 46% Two or more races 21% White 3%
• Hispanic origin (detail): Puerto Rican 37% Dominican 1%
• Common ancestry: Estonian 1% Portuguese 1%
• Foreign-born: 14% · Canada
• Languages at home: 61% English-only · Spanish 36% Other Indo-European 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: ▲ 7.12%
• Current HPI: 307.6427
• Rent YoY: ▲ 2.83%
• 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

1 event — show timeline

• 2026-04-30 Listed $599,999 Smart MLS