715 East St · New Britain, CT 06051

$399,900

6 bd · 3.0 ba · 3,416 sqft · MultiFamily public records · 12 Days on market

Built 1915 7,840 sqft lot $117/sqft · 8% below area Est $433k · 8% 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 +24.9/30.0
• ARV discount +11.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.1/10.0
• 1% rule +7.2/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

New to market! Fully rented classic 3 family with large 3 car garage. Tenants pay own heat, hot water and electricity. Each unit has hardwood floors, an oversized eat in kitchen, walk-in pantry, full bath, washer/dryer (1st & 3rd), front and rear porches, storm windows & doors. Within the past few years, the owner purchased a new water heater, furnace and the entire building was fitted with a city mandated fire alarm system, including new fire rated doors for each unit. Bonus: The basement is partially finished and the garage boasts a full basement for extra storage space. The property is an estate sale selling in as-is condition and will be subject to probate court approval. Conveniently located a short walk to the CT Fastrak Busway and a few minutes away from CCSU!

Key facts

• Large 3 car garage
• Full bath
• Hardwood floors

Tags

• LARGE 3 CAR GARAGE
• HARDWOOD FLOORS
• OVERSIZED EAT IN KITCHEN
• WALK-IN PANTRY
• FULL BATH
• FRONT AND REAR PORCHES

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $855 ($10k/yr) — positive. Per door: $285/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Cap rate 8.9% vs local median 4.4% in New Britain — 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 74/100 on livability (#67 in CT, #4,936 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: crime D, employment D, schools F.
• New Britain School District (suburban): math 6% / reading 17% proficiency, ranked #153 of 153 in CT (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.6%/yr); 63 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $4,864/mo this rent would consume 114% of the median local household income ($51k/yr) (locally 2100% 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 $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $112k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $399,900

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 1915 — 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 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?
6. Crime grade is D 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: 1.22% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.16%
• DSCR: 1.41
• GRM: 6.9

CMA / ARV

• ARV (median comp): $433,108
• List price: $399,900
• Delta: -7.67%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Carlson St	0.05mi	6/3.0	3,420 (+0%)	10mo	$435,000	$127	90
540 Church St	0.33mi	6/3.0	3,078 (-10%)	1mo	$480,000	$156	67
116 Belden St	0.36mi	6/3.0	3,606 (+6%)	8mo	$287,000	$80	67
62 Woodland St	0.23mi	5/3.0 (-1)	3,312 (-3%)	15mo	$410,000	$124	66
427 Church St	0.49mi	6/3.0	3,405 (-0%)	15mo	$445,000	$131	64
162 Jubilee St	0.28mi	7/3.0 (+1)	3,263 (-4%)	13mo	$520,000	$159	64
87 Belden St	0.38mi	6/3.0	3,588 (+5%)	12mo	$460,000	$128	64
73 Linden St	0.32mi	6/3.0	3,864 (+13%)	1mo	$450,000	$116	62
712 Stanley St	0.57mi	6/2.0	3,268 (-4%)	10mo	$355,000	$109	54
101 Fairview St	0.56mi	6/4.0	3,231 (-5%)	15mo	$372,500	$115	48
402 Church St	0.52mi	7/2.0 (+1)	3,744 (+10%)	5mo	$450,000	$120	47
182 West St	0.58mi	6/3.0	2,910 (-15%)	7mo	$485,000	$167	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 3.31×
• Total profit: $258,181
• Equity at exit: $360,262

10-year hold

• IRR: 24.8%
• Equity multiple: 7.18×
• Total profit: $692,395
• Equity at exit: $776,918

Cash invested: $111,972 (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 06051

• Home prices YoY: 9.0%
• Rents YoY: -0.6%
• Active inventory: 63
• Price-to-rent: 20.6×

Monthly cashflow live

• Estimated rent: $4,864 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$724 /mo · $8,691/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,021
• Net cashflow: $855

Break-even live

Break-even rent $3,782

Max offer price $399,900

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,863
Total (3 units)			$4,864

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
151 Fairview St New Britain, CT	6.0	3.0	4098	$1,800	$0.44	3d	1	0.48mi

Listing history 2 events

1. 2026-05-04
   status Under Contract 785-char remark

   Show marketing remark (785 chars)

   New to market! Fully rented classic 3 family with large 3 car garage. Tenants pay own heat, hot water and electricity. Each unit has hardwood floors, an oversized eat in kitchen, walk-in pantry, full bath, washer/dryer (1st & 3rd), front and rear porches, storm windows & doors. Within the past few years, the owner purchased a new water heater, furnace and the entire building was fitted with a city mandated fire alarm system, including new fire rated doors for each unit. Bonus: The basement is partially finished and the garage boasts a full basement for extra storage space. The property is an estate sale selling in as-is condition and will be subject to probate court approval. Conveniently located a short walk to the CT Fastrak Busway and a few minutes away from CCSU!

2. 2026-04-22
   listed $399,900 Active 785-char remark

   Show marketing remark (785 chars)

   New to market! Fully rented classic 3 family with large 3 car garage. Tenants pay own heat, hot water and electricity. Each unit has hardwood floors, an oversized eat in kitchen, walk-in pantry, full bath, washer/dryer (1st & 3rd), front and rear porches, storm windows & doors. Within the past few years, the owner purchased a new water heater, furnace and the entire building was fitted with a city mandated fire alarm system, including new fire rated doors for each unit. Bonus: The basement is partially finished and the garage boasts a full basement for extra storage space. The property is an estate sale selling in as-is condition and will be subject to probate court approval. Conveniently located a short walk to the CT Fastrak Busway and a few minutes away from CCSU!

ⓘ 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: $8,691 · $724/mo
• Projected year-2 tax: $8,691 · $724/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $58,368
• − Mortgage interest: −$22,401
• − Property taxes: −$8,691
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,669
• − Management: −$4,669
• − Depreciation: −$11,633
• Taxable income: $4,305
• Est. tax owed @ 24.0%: −$1,033
• After-tax cash flow: $9,222/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: New Britain School District
• NCES district ID: 0902670
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $40,827
• Composite: 9.95/100
• National rank: #9816
• State rank: #153 of 153 in CT

Livability — New Britain

• Score: 74/100
• State rank: #67
• US rank: #4936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Britain, CT
• County: Hartford County · 754,208 people
• City population: 66,322
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 29,548
• Household income: $51,022
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 2100.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 30% Two or more races 17% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 40% Dominican 4%
• Common ancestry: Romanian 7% Lithuanian 6% Slovak 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 39% Russian/Polish/Slavic 6% Arabic 3%

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: ▲ 31.52%
• Current HPI: 382.7816
• Rent YoY: ▼ -0.58%
• 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

2 events — show timeline

• 2026-05-04 Pending — Smart MLS
• 2026-04-22 Listed $399,900 Smart MLS

Property tax history

+3.6%/yr

Latest (2025): $8,691 · +2.3% YoY. Source: county tax records.