505 New Britain Rd · Berlin, CT 06037

$424,900

16 bd · 14.0 ba · 3,487 sqft · MultiFamily · 58 Days on market

Built 1900 Fair condition 4,356 sqft lot $122/sqft · 33% below area Est $638k · 33% under ↓ 11% since listing

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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
• Schools +4.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Rare Mixed-Use Investment Opportunity in Prime Berlin Location! Don't miss this exceptional chance to own a mixed-use investment property in a high-traffic area of Berlin! This versatile building features four units-including one commercial space on the main level, currently leased as a barber shop, and three residential units The property also includes a full walk-out basement, currently used for storage, offering additional potential. Notable Updates/Features-Full Walk-Out Basement (storage or potential additional use), Roof (Asphalt) 2016, Flat Roof 2023, Water Heater 2020, Forced Hot Air 2000, Electrical Service Upgraded 2000 Excellent visibility in a high-traffic area. Close to train station, restaurants, shops, and all major amenities. Quick access to Route 9, Route 72, and the Berlin Turnpike. Whether you're an investor seeking income-generating property or a business owner looking to offset costs with rental income, this property offers incredible potential. The price reflects the cosmetic updates needed-making this a value-add opportunity with strong upside. Cross Listed MLS#24168825

Key facts

• Notable updates
• High-traffic area
• Four units

Tags

• FOUR UNITS
• COMMERCIAL SPACE
• FULL WALK-OUT BASEMENT
• HIGH-TRAFFIC AREA
• NOTABLE UPDATES
• ASPHALT ROOF

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/3.5-bath units multifamily listed at $425k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $6k ($72k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $425k).
• Recommended offer: $412k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Berlin School District (suburban): math 47% / reading 58% proficiency, ranked #69 of 153 in CT (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 63 active listings in the ZIP; high-income renter base; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $11,269/mo this rent would consume 117% of the median local household income ($116k/yr) (locally 294% 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 + 3.0% rent growth), your $119k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $412,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1900 — 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. 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: 2.65% ✓
• Cap rate: 23.14%
• Cash-on-cash: 60.18%
• DSCR: 3.68
• GRM: 3.1

CMA / ARV

• ARV (median comp): $637,594
• List price: $424,900
• Delta: -33.36%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 58.9%
• Equity multiple: 3.62×
• Total profit: $311,303
• Equity at exit: $63,354

10-year hold

• IRR: 63.7%
• Equity multiple: 7.40×
• Total profit: $761,060
• Equity at exit: $36,738

Cash invested: $118,972 (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 06037

• Home prices YoY: -32.9%
• Active inventory: 63
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $11,269 medium
• Mortgage (P&I): −$2,228
• Tax est. 1.5%: −$531 /mo · $6,374/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,366
• Net cashflow: $5,966

Break-even live

Break-even rent $3,717

Max offer price $424,900

Occupancy floor 42%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	3.5	$11,268
Total (4 units)			$11,269

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: $106,225
• Closing costs: $12,747
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $424,900 Active 58 DOM
2. 2026-06-17
   days on market $424,900 Active 57 DOM
3. 2026-06-16
   days on market $424,900 Active 56 DOM
4. 2026-06-15
   days on market $424,900 Active 55 DOM
5. 2026-06-13
   days on market $424,900 Active 53 DOM
6. 2026-06-13
   days on market $424,900 Active 52 DOM
7. 2026-06-10
   days on market $424,900 Active 50 DOM
8. 2026-06-09
   days on market $424,900 Active 49 DOM
9. 2026-06-08
   days on market $424,900 Active 48 DOM
10. 2026-06-07
    days on market $424,900 Active 47 DOM
11. 2026-06-05
    days on market $424,900 Active 44 DOM
12. 2026-06-03
    days on market $424,900 Active 43 DOM
13. 2026-06-02
    days on market $424,900 Active 42 DOM
14. 2026-06-01
    days on market $424,900 Active 41 DOM
15. 2026-05-31
    days on market $424,900 Active 40 DOM
16. 2026-04-21
    listed $424,900 Active 1109-char remark

    Show marketing remark (1109 chars)

    Rare Mixed-Use Investment Opportunity in Prime Berlin Location! Don't miss this exceptional chance to own a mixed-use investment property in a high-traffic area of Berlin! This versatile building features four units-including one commercial space on the main level, currently leased as a barber shop, and three residential units The property also includes a full walk-out basement, currently used for storage, offering additional potential. Notable Updates/Features-Full Walk-Out Basement (storage or potential additional use), Roof (Asphalt) 2016, Flat Roof 2023, Water Heater 2020, Forced Hot Air 2000, Electrical Service Upgraded 2000 Excellent visibility in a high-traffic area. Close to train station, restaurants, shops, and all major amenities. Quick access to Route 9, Route 72, and the Berlin Turnpike. Whether you're an investor seeking income-generating property or a business owner looking to offset costs with rental income, this property offers incredible potential. The price reflects the cosmetic updates needed-making this a value-add opportunity with strong upside. Cross Listed MLS#24168825

17. 2025-12-19
    historical
18. 2025-11-19
    price $449,900
19. 2025-11-04
    price $464,900
20. 2025-10-15
    listed $479,900 Active

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

Taxation est. · year 1

• Rental income: $135,228
• − Mortgage interest: −$23,801
• − Property taxes: −$6,374
• − Insurance: −$2,124
• − Repairs & maintenance: −$10,818
• − Management: −$10,818
• − Depreciation: −$12,361
• Taxable income: $68,932
• Est. tax owed @ 24.0%: −$16,544
• After-tax cash flow: $55,050/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 · 12 photos

Fair 45/100 Moderate rehab

A mixed-use property with fair condition and moderate rehab needs, offering potential for significant value increase through exterior updates and interior renovations.

Repairs flagged

• Major Exterior siding — Significant weathering and discoloration
• Minor Kitchen cabinets — Slight wear

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace flooring in main level — Improves living space and value
• Both Upgrade kitchen cabinets — Enhances functionality and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant weathering and discoloration	Major	$15,000–50,000
Kitchen cabinets · Slight wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace flooring in main level — Improves living space and value ↑
• Both Upgrade kitchen cabinets — Enhances functionality and value ↑

ⓘ 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: Berlin School District
• NCES district ID: 0900210
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 58% ▼ -8.00%
• Median HH income: $87,497
• Composite: 48.4/100
• National rank: #2136
• State rank: #69 of 153 in CT

Livability — Berlin

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Kensington, CT
• County: Hartford County · 754,208 people
• City population: 19,173
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 19,173
• Household income: $116,042
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 294.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Asian 5%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 23% Lithuanian 8% Danish 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 85% English-only · Russian/Polish/Slavic 6% Spanish 3% Other Indo-European 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: ▼ -145.47%
• Current HPI: 296.2808
• Rent YoY: —
• 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

-11.5% since first listed

5 events — show timeline

• 2026-04-21 Listed $424,900 Smart MLS
• 2025-12-19 Listing Removed — Smart MLS
• 2025-11-19 Price Changed $449,900 Smart MLS
• 2025-11-04 Price Changed $464,900 Smart MLS
• 2025-10-15 Listed $479,900 Smart MLS