280 Capen St · Hartford, CT 06112

$60,000

2 bd · 1.0 ba · 850 sqft · Condo · 14 Days on market

Built 1968 Fair condition $920/mo HOA · 39% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.4/10.0

Listing remarks

Well-kept 2BR/1BA co-op in the gated Vinewood Apartments Cooperative. This approx. 850 sq ft unit offers a functional layout with living room, dining area, and kitchen, plus two comfortable bedrooms and a full bath. Hardwood flooring and good natural light throughout. Community features gated entry, assigned parking, storage, and professionally managed grounds. Monthly co-op includes heat, water, sewer, trash, landscaping, snow removal, management, and property taxes, offering simplified ownership. Convenient location near parks, transit, and neighborhood amenities. Co-op Application Required and must be approved. Owner-occupant restrictions apply. Sold AS IS.

Key facts

• Near transit
• Near parks
• Convenient location

Tags

• GATED ENTRY
• ASSIGNED PARKING
• PROFESSIONALLY MANAGED GROUNDS
• CONVENIENT LOCATION
• NEAR PARKS
• NEAR TRANSIT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).

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: 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.
• Zoned schools: Wish Museum School (math 8% / reading 8%, grade F, #529 of 553 statewide, top 97%, 291 students, 90% FRL).
• Market conditions: 47 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $2,369/mo this rent would consume 64% of the median local household income ($44k/yr) (locally 1466% 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 $6k of equity ($415 loan paydown + $6k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 39% of rent.
• Climate carrying-cost: major flood risk; 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 $60,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 3.95% ✓
• Cap rate: 17.03%
• Cash-on-cash: 38.35%
• DSCR: 2.71
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.3%
• Equity multiple: 4.77×
• Total profit: $63,284
• Equity at exit: $54,053

10-year hold

• IRR: 44.3%
• Equity multiple: 10.77×
• Total profit: $164,074
• Equity at exit: $116,567

Cash invested: $16,800 (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 06112

• Home prices YoY: 4.9%
• Active inventory: 47
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $2,369 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$920
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $470

Break-even live

Break-even rent $1,774

Max offer price $60,000

Occupancy floor 75%

Sensitivity live

Price	-10% $512	-5% $491	+0% $470	+5% $450	+10% $429
Rent	-10% $283	-5% $377	+0% $470	+5% $564	+10% $658
Rate	-1.0pp $501	-0.5pp $486	base $470	+0.5pp $455	+1.0pp $439

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1143 Main St Hartford, CT	3.0	1.0–2.0	962	$2,994	$3.11	4d	203	1.28mi
1212 Main St Hartford, CT	2.0	1.0–2.0	766	$3,027	$3.95	4d	18	1.32mi
59 E Euclid St Hartford, CT	2.0	1.0	672	$2,000	$2.98	5d	1	1.36mi
915 Main St Hartford, CT	1.0–2.0	1.0–2.0	1415	$1,940	$1.37	5d	5	1.47mi

HOA detail condo

• Monthly dues: $920 · $11,040/yr
• Likely covers: watersewertrashlandscapingsnow removalsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-04-06
   status Under Contract
2. 2026-03-23
   listed $60,000 Active

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $28,429
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$1,098
• − Repairs & maintenance: −$2,274
• − Management: −$2,274
• − HOA: −$11,040
• − Depreciation: −$1,745
• Taxable income: $5,736
• Est. tax owed @ 24.0%: −$1,377
• After-tax cash flow: $4,269/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 · 13 photos

Fair 45/100 Moderate rehab

The home requires moderate repairs and maintenance, including cleaning, painting, and landscaping. These updates will significantly enhance its resale and rental value.

Repairs flagged

• Minor Kitchen clutter — Cleaning and organizing the kitchen will improve its appearance and functionality.
• Minor Bathroom clutter — Cleaning and organizing the bathroom will improve its appearance and functionality.
• Minor Exterior cleaning — Cleaning the exterior will remove snow and debris, improving curb appeal.

Value-add opportunities

• Both Painting the exterior and interior walls — Painting will improve the home's curb appeal and interior appearance, enhancing both resale and rental value.
• Both Organizing the kitchen and bathroom — A clean and organized kitchen and bathroom will improve the home's functionality and appeal, enhancing both resale and rental value.
• Both Landscaping and removing snow — A well-maintained and attractive exterior will improve the home's curb appeal, enhancing both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen clutter · Cleaning and organizing the kitchen will improve its appearance and functionality.	Minor	$500–3,000
Bathroom clutter · Cleaning and organizing the bathroom will improve its appearance and functionality.	Minor	$500–3,000
Exterior cleaning · Cleaning the exterior will remove snow and debris, improving curb appeal.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Painting the exterior and interior walls — Painting will improve the home's curb appeal and interior appearance, enhancing both resale and rental value. ↑
• Both Organizing the kitchen and bathroom — A clean and organized kitchen and bathroom will improve the home's functionality and appeal, enhancing both resale and rental value. ↑
• Both Landscaping and removing snow — A well-maintained and attractive exterior will improve the home's curb appeal, enhancing both resale 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: 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): 22,333
• Household income: $44,460
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 1466.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 19% White 9% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 15% Dominican 1%
• Common ancestry: Hispanic 2%
• Foreign-born: 26% · Canada
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▲ 14.58%
• Current HPI: 310.7763
• 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

2 events — show timeline

• 2026-04-06 Pending — Smart MLS
• 2026-03-23 Listed $60,000 Smart MLS