4 Summit St · East Hampton, CT 06424

$550,000

4 bd · 4.0 ba · 1,701 sqft · MultiFamily · 65 Days on market

Built 1890 Fair condition 5,227 sqft lot $323/sqft · 64% above area

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Why this score? — see what drove the D+ 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 +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Schools +4.8/10.0
• Livability +4.1/5.0
• Rent growth +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: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment opportunity in East Hampton Village Center. 4 units + 1 store front. Individual utilities and fully rented in month-to-month leases.

Key facts

• 4 units
• Individual utilities
• 1 store front

Tags

• 4 UNITS
• 1 STORE FRONT
• INDIVIDUAL UTILITIES
• FULLY RENTED
• MONTH-TO-MONTH LEASES

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $550k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $541k (1.6% below list).
• Recommended offer: $517k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 2.0% in East Hampton — 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 82/100 on livability (#13 in CT, #1,301 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities C-, commute F.
• East Hampton School District (town): math 43% / reading 59% proficiency, ranked #70 of 153 in CT (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 60 active listings in the ZIP; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($517k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $516,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.98% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (median comp): $335,779
• List price: $550,000
• Delta: 63.80%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7-A Barton Hill Rd	0.15mi	4/3.0	1,760 (+4%)	24mo	$255,000	$145	64
8 Skinner St	0.21mi	3/2.0 (-1)	1,740 (+2%)	12mo	$330,000	$190	63
24 N Main St	0.71mi	4/2.0	1,794 (+6%)	2mo	$380,000	$212	48
7 Main St	0.43mi	4/3.0	1,955 (+15%)	14mo	$350,000	$179	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.5%
• Equity multiple: 0.62×
• Total profit: $-58,868
• Equity at exit: $82,007

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-12,075
• Equity at exit: $47,554

Cash invested: $154,000 (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 06424

• Home prices YoY: -34.6%
• Active inventory: 60
• Price-to-rent: 33.9×

Monthly cashflow live

• Estimated rent: $5,411 medium
• Mortgage (P&I): −$2,884
• Tax est. 1.5%: −$688 /mo · $8,250/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,136
• Net cashflow: $474

Break-even live

Break-even rent $4,811

Max offer price $550,000

Occupancy floor 86%

Sensitivity live

Price	-10% $854	-5% $664	+0% $474	+5% $284	+10% $94
Rent	-10% $46	-5% $260	+0% $474	+5% $687	+10% $901
Rate	-1.0pp $751	-0.5pp $614	base $474	+0.5pp $331	+1.0pp $186

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$5,412
Total (4 units)			$5,411

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $550,000 Active 65 DOM
2. 2026-06-17
   days on market $550,000 Active 64 DOM
3. 2026-06-16
   days on market $550,000 Active 63 DOM
4. 2026-06-15
   days on market $550,000 Active 62 DOM
5. 2026-06-13
   days on market $550,000 Active 60 DOM
6. 2026-06-12
   days on market $550,000 Active 59 DOM
7. 2026-06-09
   days on market $550,000 Active 56 DOM
8. 2026-06-08
   days on market $550,000 Active 55 DOM
9. 2026-06-07
   days on market $550,000 Active 54 DOM
10. 2026-06-07
    days on market $550,000 Active 53 DOM
11. 2026-06-04
    days on market $550,000 Active 50 DOM
12. 2026-06-02
    days on market $550,000 Active 49 DOM
13. 2026-06-01
    days on market $550,000 Active 48 DOM
14. 2026-05-31
    days on market $550,000 Active 47 DOM
15. 2026-05-31
    days on market $550,000 Active 46 DOM
16. 2026-04-13
    listed $550,000 Active 143-char remark

    Show marketing remark (143 chars)

    Investment opportunity in East Hampton Village Center. 4 units + 1 store front. Individual utilities and fully rented in month-to-month leases.

ⓘ 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: $64,932
• − Mortgage interest: −$30,809
• − Property taxes: −$8,250
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,195
• − Management: −$5,195
• − Depreciation: −$16,000
• Taxable loss: −$3,266
• Est. tax savings @ 24.0%: +$784
• After-tax cash flow: $6,469/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 · 6 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant exterior repairs and maintenance, including a new roof and exterior painting, to improve its condition and value.

Repairs flagged

• Major siding — Significant wear and tear on the siding.
• Major roof — Aged roof with visible signs of wear.
• Major fencing — Fencing is in poor condition and may need repair or replacement.

Value-add opportunities

• Both repair and replace roof — A new roof will significantly improve the home's appearance and value.
• Both repair and paint exterior — A fresh coat of paint will enhance the home's curb appeal and value.
• Both landscape and maintain yard — A well-maintained yard and landscaping will improve the home's curb appeal and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear on the siding.	Major	$15,000–50,000
roof · Aged roof with visible signs of wear.	Major	$15,000–50,000
fencing · Fencing is in poor condition and may need repair or replacement.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both repair and replace roof — A new roof will significantly improve the home's appearance and value. ↑
• Both repair and paint exterior — A fresh coat of paint will enhance the home's curb appeal and value. ↑
• Both landscape and maintain yard — A well-maintained yard and landscaping will improve the home's curb appeal and rental 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: East Hampton School District
• NCES district ID: 0901230
• Math proficiency: 43% ▼ -13.00%
• Reading proficiency: 59% ▼ -8.00%
• Median HH income: $91,846
• Composite: 47.55/100
• National rank: #2265
• State rank: #70 of 153 in CT

Livability — East Hampton

• Score: 82/100
• State rank: #13
• US rank: #1301

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Hampton, CT
• Population (ZIP): 12,401

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 11% Lithuanian 4% Italian 4%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.67%
• Current HPI: 190.1694
• Rent YoY: —
• Metro: —
• 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

• 2026-04-13 Listed $550,000 Smart MLS