98 E Burnham St · Blue Hills, CT 06002

$279,000

4 bd · 2.0 ba · 941 sqft · SingleFamily public records · 36 Days on market

Built 1949 4,791 sqft lot $296/sqft · at area comps Est $273k · at est.

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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).

• Cash flow +21.6/30.0
• DSCR +6.9/10.0
• ARV discount +6.5/15.0
• 1% rule +6.0/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 4-bedroom, 2-bath Cape located in Bloomfield. This well-maintained home offers a flexible layout with providing options for a home office. The property features a bright and inviting interior, a functional floor plan, and ample natural light throughout. The kitchen and living spaces offer comfortable everyday living with potential for customization. 1 car attached garage and a level fenced in back yard to enjoy your summer activities. Conveniently situated near local amenities and shopping, this home provides both accessibility and neighborhood appeal.

Key facts

• Fenced in back yard
• Local amenities
• Home office

Tags

• HOME OFFICE
• FENCED IN BACK YARD
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $279k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $279k).
• Recommended offer: $271k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#14 in CT, #1,343 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: schools F, amenities F.
• Bloomfield School District (suburban): math 16% / reading 30% proficiency, ranked #137 of 153 in CT (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.1%/yr); 64 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• This rent runs 38% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 26y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $83k; list at $279k implies a 236% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $270,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.10% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.52%
• DSCR: 1.29
• GRM: 7.6

CMA / ARV

• ARV (median comp): $272,660
• List price: $279,000
• Delta: 2.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
75 Elizabeth Ave	0.29mi	3/1.0 (-1)	1,023 (+9%)	1mo	$280,000	$274	62
91 E Harold St	0.08mi	4/1.0	1,075 (+14%)	11mo	$260,000	$242	59

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 · 3.11% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.77×
• Total profit: $-17,747
• Equity at exit: $41,600

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $21,130
• Equity at exit: $24,123

Cash invested: $78,120 (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 06002

• Rents YoY: 3.1%
• Active inventory: 64
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,074 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$425 /mo · $5,095/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $424

Break-even live

Break-even rent $2,537

Max offer price $279,000

Occupancy floor 81%

Sensitivity live

Price	-10% $582	-5% $503	+0% $424	+5% $345	+10% $266
Rent	-10% $182	-5% $303	+0% $424	+5% $546	+10% $667
Rate	-1.0pp $565	-0.5pp $495	base $424	+0.5pp $352	+1.0pp $279

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31 Forest Ln Bloomfield, CT	4.0	1.5	1004	$3,200	$3.19	4d	1	1.44mi

Listing history 42 events

1. 2026-05-07
   status Under Contract 569-char remark

   Show marketing remark (569 chars)

   Charming 4-bedroom, 2-bath Cape located in Bloomfield. This well-maintained home offers a flexible layout with providing options for a home office. The property features a bright and inviting interior, a functional floor plan, and ample natural light throughout. The kitchen and living spaces offer comfortable everyday living with potential for customization. 1 car attached garage and a level fenced in back yard to enjoy your summer activities. Conveniently situated near local amenities and shopping, this home provides both accessibility and neighborhood appeal.

2. 2026-04-30
   price $279,000 569-char remark

   Show marketing remark (569 chars)

   Charming 4-bedroom, 2-bath Cape located in Bloomfield. This well-maintained home offers a flexible layout with providing options for a home office. The property features a bright and inviting interior, a functional floor plan, and ample natural light throughout. The kitchen and living spaces offer comfortable everyday living with potential for customization. 1 car attached garage and a level fenced in back yard to enjoy your summer activities. Conveniently situated near local amenities and shopping, this home provides both accessibility and neighborhood appeal.

3. 2026-04-01
   listed $299,000 Active 569-char remark

   Show marketing remark (569 chars)

   Charming 4-bedroom, 2-bath Cape located in Bloomfield. This well-maintained home offers a flexible layout with providing options for a home office. The property features a bright and inviting interior, a functional floor plan, and ample natural light throughout. The kitchen and living spaces offer comfortable everyday living with potential for customization. 1 car attached garage and a level fenced in back yard to enjoy your summer activities. Conveniently situated near local amenities and shopping, this home provides both accessibility and neighborhood appeal.

4. 2024-08-23
   historical $2,000
5. 2024-08-16
   listed $2,000
6. 2024-08-09
   historical
7. 2024-07-18
   listed $299,900 Active
8. 2019-09-18
   soldstatus $83,000
9. 2019-09-06
   soldstatus $83,000 Closed
10. 2019-06-07
    historical
11. 2019-05-31
    price $83,000
12. 2019-05-31
    status Active
13. 2019-05-26
    historical
14. 2019-03-27
    historical Under Contract - Continue to Show
15. 2019-03-18
    price $88,000
16. 2019-03-14
    price $95,000
17. 2019-03-10
    price $102,000
18. 2019-02-22
    price $106,000
19. 2019-02-16
    price $110,000
20. 2019-02-12
    listed $120,000 Active
21. 2018-10-06
    historical
22. 2018-10-05
    status Active
23. 2018-10-05
    historical
24. 2018-08-17
    price $122,000
25. 2018-08-05
    price $127,000
26. 2018-07-27
    price $129,000
27. 2018-07-02
    listed $130,000 Active
28. 2017-11-29
    historical
29. 2017-07-12
    listed $103,000
30. 2016-06-26
    historical
31. 2016-06-05
    listed $89,900
32. 2013-11-16
    historical
33. 2013-05-21
    listed $119,900
34. 2009-04-30
    historical
35. 2009-01-12
    listed $139,900
36. 2009-01-04
    historical
37. 2008-09-05
    listed $149,000
38. 2007-06-30
    historical
39. 2006-12-27
    listed $144,800
40. 2001-05-25
    soldstatus $91,900
41. 2001-05-25
    soldstatus $91,900
42. 2000-12-09
    listed $89,900

ⓘ 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: $5,095 · $425/mo
• Projected year-2 tax: $5,533 · $461/mo
• Expected delta: +$438/yr (+$36/mo · 8.6%)

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

Taxation est. · year 1

• Rental income: $36,886
• − Mortgage interest: −$15,628
• − Property taxes: −$5,095
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,951
• − Management: −$2,951
• − Depreciation: −$8,116
• Taxable income: $750
• Est. tax owed @ 24.0%: −$180
• After-tax cash flow: $4,913/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: Bloomfield School District
• NCES district ID: 0900330
• Math proficiency: 16% ▼ -13.00%
• Reading proficiency: 30% ▼ -12.00%
• Median HH income: $71,180
• Composite: 22.37/100
• National rank: #8120
• State rank: #137 of 153 in CT

Livability — Blue Hills

• Score: 81/100
• State rank: #14
• US rank: #1343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Hills, CT
• County: Hartford County · 754,208 people
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 21,865
• Household income: $98,162
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 692.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 54% White 30% Hispanic / Latino 8% Two or more races 6% Asian 4%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 2% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 2% 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: ▼ -175.76%
• Current HPI: 198.4604
• Rent YoY: ▲ 3.11%
• 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

+210.3% since first listed

42 events — show timeline

• 2026-05-07 Pending — Smart MLS
• 2026-04-30 Price Changed $279,000 Smart MLS
• 2026-04-01 Listed $299,000 Smart MLS
• 2024-08-23 Rental Removed $2,000 APPFOLIO
• 2024-08-16 Listed for Rent $2,000 APPFOLIO
• 2024-08-09 Listing Removed — Smart MLS
• 2024-07-18 Listed $299,900 Smart MLS
• 2019-09-18 Sold (Public Records) $83,000 Public Records
• 2019-09-06 Sold (MLS) $83,000 Smart MLS
• 2019-06-07 Listing Removed — Smart MLS
• 2019-05-31 Price Changed $83,000 Smart MLS
• 2019-05-31 Relisted — Smart MLS
• 2019-05-26 Listing Removed — Smart MLS
• 2019-03-27 Contingent — Smart MLS
• 2019-03-18 Price Changed $88,000 Smart MLS
• 2019-03-14 Price Changed $95,000 Smart MLS
• 2019-03-10 Price Changed $102,000 Smart MLS
• 2019-02-22 Price Changed $106,000 Smart MLS
• 2019-02-16 Price Changed $110,000 Smart MLS
• 2019-02-12 Listed $120,000 Smart MLS
• 2018-10-06 Listing Removed — Smart MLS
• 2018-10-05 Relisted — Smart MLS
• 2018-10-05 Listing Removed — Smart MLS
• 2018-08-17 Price Changed $122,000 Smart MLS
• 2018-08-05 Price Changed $127,000 Smart MLS
• 2018-07-27 Price Changed $129,000 Smart MLS
• 2018-07-02 Listed $130,000 Smart MLS
• 2017-11-29 Listing Removed — Smart MLS
• 2017-07-12 Listed $103,000 Smart MLS
• 2016-06-26 Listing Removed — Smart MLS
• 2016-06-05 Listed $89,900 Smart MLS
• 2013-11-16 Listing Removed — Smart MLS
• 2013-05-21 Listed $119,900 Smart MLS
• 2009-04-30 Listing Removed — Smart MLS
• 2009-01-12 Listed $139,900 Smart MLS
• 2009-01-04 Listing Removed — Smart MLS
• 2008-09-05 Listed $149,000 Smart MLS
• 2007-06-30 Listing Removed — Smart MLS
• 2006-12-27 Listed $144,800 Smart MLS
• 2001-05-25 Sold (Public Records) $91,900 Public Records
• 2001-05-25 Sold (MLS) $91,900 Smart MLS
• 2000-12-09 Listed $89,900 Smart MLS

Property tax history

+3.5%/yr

Latest (2025): $5,095 · +45.8% YoY. Source: county tax records.