486 Prospect Ave · Hartford, CT 06105

$439,000

4 bd · 16.0 ba · 3,190 sqft · MultiFamily public records · 1 Days on market

Built 1900 9,147 sqft lot $138/sqft · 32% below area Est $644k · 32% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Outstanding four unit investment opportunity in Hartford's West End. Directly across the street from the West Hartford line. First time on the market in 45 years. This well-maintained property has 4 one bedroom apartments, with the potential to convert one of these units into a two bedroom apartment. The property has been well-managed with consistent occupancy, and offers significant rental upside. Current rents remain below Hartford Housing Authority standards; allowing room for a strong increase in NOI. This is an opportunity to acquire a stable multi-family property in a proven rental corridor. Ideal for investors seeking stability, long term cash flow growth, and future appreciation. 3r

Key facts

• 9,147 sq ft lot
• 3 garage spots
• Built 1900

Property features AI

Exterior

• Parking: Detached garage; 3 garages; Paved off-street parking and driveway; Total of 4 parking spaces
• Utilities: Public water; Public sewer; Natural gas domestic hot water
• Home design: Multi-family property (4-family); Multi-story (4 units)
• Construction: Built with frame, stone and concrete elements; Vinyl siding and wood exterior; Asphalt shingle roof; Concrete and stone foundation
• Exterior features: Porch; Sidewalk; Gutters; Exterior lighting; Level lot; Private paved driveway

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 4 full bathrooms
• Heating & cooling: Hot water heating fueled by natural gas; Window unit cooling
• Interior features: 12 total rooms; Full, unfinished basement with hatchway and interior access

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $439k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $624/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $439k).

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 fast (+6.7%/yr); 47 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $7,325/mo this rent would consume 210% of the median local household income ($42k/yr) (locally 2389% 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 $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $123k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $439,000

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 1900 — 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: 1.67% ✓
• Cap rate: 13.11%
• Cash-on-cash: 24.35%
• DSCR: 2.08
• GRM: 5.0

CMA / ARV

• ARV (median comp): $643,914
• List price: $439,000
• Delta: -31.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.73% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 1.95×
• Total profit: $116,523
• Equity at exit: $65,456

10-year hold

• IRR: 32.5%
• Equity multiple: 4.53×
• Total profit: $433,514
• Equity at exit: $37,957

Cash invested: $122,920 (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 06105

• Home prices YoY: -25.6%
• Rents YoY: 6.7%
• Active inventory: 47
• Price-to-rent: 20.0×

Monthly cashflow live

• Estimated rent: $7,325 high
• Mortgage (P&I): −$2,302
• Tax from tax record: −$807 /mo · $9,687/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,538
• Net cashflow: $2,494

Break-even live

Break-even rent $4,168

Max offer price $439,000

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$7,324
Total (4 units)			$7,325

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: $109,750
• Closing costs: $13,170
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
85 Maplewood Ave Unit 2nd Floor West Hartford, CT	3.0	1.0	4212	$2,250	$0.53	44d	1	0.69mi
62 Quaker Ln S West Hartford, CT	3.0	1.0	4394	$2,250	$0.51	16d	1	0.73mi
260-262 Oxford St Fl 1 Hartford, CT	5.0	2.5	2200	$3,500	$1.59	24d	1	0.79mi
16 Thomson Rd West Hartford, CT	3.0	2.0	2144	$1,350	$0.63	16d	1	1.33mi
4 Buckingham Ln West Hartford, CT	4.0	3.5	3376	$5,250	$1.56	44d	1	1.40mi

Listing history 1 events

1. 2026-05-14
   historical $439,000 734-char remark

ⓘ 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: $9,687 · $807/mo
• Projected year-2 tax: $9,687 · $807/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 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: $87,900
• − Mortgage interest: −$24,591
• − Property taxes: −$9,687
• − Insurance: −$2,195
• − Repairs & maintenance: −$7,032
• − Management: −$7,032
• − Depreciation: −$12,771
• Taxable income: $24,592
• Est. tax owed @ 24.0%: −$5,902
• After-tax cash flow: $24,031/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): 19,174
• Household income: $41,937
• Rent vs Own: 80.7% rent · 19.3% own
• Severe rent burden: 2389.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 39% White 28% Hispanic / Latino 26% Two or more races 14% Asian 2%
• Hispanic origin (detail): Puerto Rican 18% Cuban 1% Dominican 3%
• Common ancestry: Romanian 3% Lithuanian 2% Estonian 1%
• Foreign-born: 20% · Canada, United Kingdom
• Languages at home: 74% English-only · Spanish 18% Other Indo-European 3% French/Haitian/Cajun 2%

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: ▼ -59.58%
• Current HPI: 173.3602
• Rent YoY: ▲ 6.73%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-23 Pending — Smart MLS
• 2026-05-22 Listed $439,000 Smart MLS
• 2026-05-14 Coming Soon $439,000 Smart MLS

Property tax history

+2.1%/yr

Latest (2025): $9,687 · +0.0% YoY. Source: county tax records.