165 Martin St · Hartford, CT 06120

$414,900

9 bd · 3.0 ba · 3,588 sqft · MultiFamily · 113 Days on market

Built 1927 Fair condition 7,840 sqft lot $116/sqft · at area comps Est $427k · at est.

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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
• ARV discount +8.8/15.0
• Appreciation +8.6/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.2/5.0
• Schools +1.4/10.0

Multi-family units

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

Listing remarks MLS

Large three-family home in Hartford - perfect for investors or owner-occupants looking to generate income. Each unit features 3 spacious bedrooms, offering strong rental potential and the opportunity to maximize cash flow. First, second, and third floor units provide comfortable living space and flexible options. Plenty of off-street parking with space for up to 10 vehicles, a major plus for tenants. This property is being sold AS IS. Whether you're expanding your investment portfolio or looking to live in one unit while collecting rental income from the others, this is a solid income-producing opportunity.

Key facts

• 7,840 sq ft lot
• Built 1927
• Listed 112 days

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $415k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $415k).
• Recommended offer: $378k (9.0% below list) — sets the bar for market timing.

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: schools D-, 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.
• Market conditions: Rents rising (+2.8%/yr); 21 active listings in the ZIP; lower-income renter base — watch delinquency; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $7,487/mo this rent would consume 258% of the median local household income ($35k/yr) (locally 1435% 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 $32k of equity ($3k loan paydown + $30k appreciation (7.1% local appreciation)).
• At projected returns (7.1% appreciation + 2.8% rent growth), your $116k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago 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.
• Current owner paid $240k; list at $415k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $377,559 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% 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 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.80% ✓
• Cap rate: 15.11%
• Cash-on-cash: 31.48%
• DSCR: 2.40
• GRM: 4.6

CMA / ARV

• ARV (median comp): $427,384
• List price: $414,900
• Delta: -2.92%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

7.12% appreciation · 2.83% rent growth · sell at horizon

5-year hold

• IRR: 43.8%
• Equity multiple: 3.93×
• Total profit: $340,773
• Equity at exit: $290,668

10-year hold

• IRR: 39.8%
• Equity multiple: 8.25×
• Total profit: $842,607
• Equity at exit: $555,017

Cash invested: $116,172 (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 06120

• Home prices YoY: 2.4%
• Rents YoY: 2.8%
• Active inventory: 21
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $7,487 medium
• Mortgage (P&I): −$2,176
• Tax est. 1.5%: −$519 /mo · $6,224/yr
• Insurance: −$173
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,572
• Net cashflow: $3,047

Break-even live

Break-even rent $3,629

Max offer price $414,900

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$7,488
Total (3 units)			$7,487

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: $103,725
• Closing costs: $12,447
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $414,900 Active 113 DOM
2. 2026-06-17
   days on market $414,900 Active 112 DOM
3. 2026-06-16
   days on market $414,900 Active 111 DOM
4. 2026-06-15
   days on market $414,900 Active 110 DOM
5. 2026-06-13
   days on market $414,900 Active 108 DOM
6. 2026-06-13
   days on market $414,900 Active 107 DOM
7. 2026-06-10
   days on market $414,900 Active 105 DOM
8. 2026-06-09
   days on market $414,900 Active 104 DOM
9. 2026-06-08
   days on market $414,900 Active 103 DOM
10. 2026-06-07
    days on market $414,900 Active 102 DOM
11. 2026-06-05
    days on market $414,900 Active 99 DOM
12. 2026-06-03
    days on market $414,900 Active 98 DOM
13. 2026-06-02
    days on market $414,900 Active 97 DOM
14. 2026-06-01
    days on market $414,900 Active 96 DOM
15. 2026-05-31
    days on market $414,900 Active 95 DOM
16. 2026-03-26
    status Active 618-char remark

    Show marketing remark (618 chars)

    Large three-family home in Hartford - perfect for investors or owner-occupants looking to generate income. Each unit features 3 spacious bedrooms, offering strong rental potential and the opportunity to maximize cash flow. First, second, and third floor units provide comfortable living space and flexible options. Plenty of off-street parking with space for up to 10 vehicles, a major plus for tenants. This property is being sold AS IS. Whether you're expanding your investment portfolio or looking to live in one unit while collecting rental income from the others, this is a solid income-producing opportunity.

17. 2026-03-18
    historical Under Contract - Continue to Show 618-char remark

    Show marketing remark (618 chars)

    Large three-family home in Hartford - perfect for investors or owner-occupants looking to generate income. Each unit features 3 spacious bedrooms, offering strong rental potential and the opportunity to maximize cash flow. First, second, and third floor units provide comfortable living space and flexible options. Plenty of off-street parking with space for up to 10 vehicles, a major plus for tenants. This property is being sold AS IS. Whether you're expanding your investment portfolio or looking to live in one unit while collecting rental income from the others, this is a solid income-producing opportunity.

18. 2026-02-26
    listed $414,900 Active 618-char remark

    Show marketing remark (618 chars)

    Large three-family home in Hartford - perfect for investors or owner-occupants looking to generate income. Each unit features 3 spacious bedrooms, offering strong rental potential and the opportunity to maximize cash flow. First, second, and third floor units provide comfortable living space and flexible options. Plenty of off-street parking with space for up to 10 vehicles, a major plus for tenants. This property is being sold AS IS. Whether you're expanding your investment portfolio or looking to live in one unit while collecting rental income from the others, this is a solid income-producing opportunity.

19. 2026-02-20
    historical $414,900 618-char remark

    Show marketing remark (618 chars)

    Large three-family home in Hartford - perfect for investors or owner-occupants looking to generate income. Each unit features 3 spacious bedrooms, offering strong rental potential and the opportunity to maximize cash flow. First, second, and third floor units provide comfortable living space and flexible options. Plenty of off-street parking with space for up to 10 vehicles, a major plus for tenants. This property is being sold AS IS. Whether you're expanding your investment portfolio or looking to live in one unit while collecting rental income from the others, this is a solid income-producing opportunity.

20. 2024-04-16
    soldstatus $240,000 Closed 435-char remark

    Show marketing remark (435 chars)

    Large Three Family property ready for cash flow! Investment or move right in. The 1st and 2nd floors are rented and the 3rd floor is vacant but can be rented very quickly. The units have separate utilities and tenants pay their own natural gas heat and hot water. All units are large with THREE BEDROOMS each so you can get the most cash flow as possible. There is also plenty of off-street parking. Make an offer today before it goes!

21. 2024-03-28
    status Under Contract 435-char remark

    Show marketing remark (435 chars)

    Large Three Family property ready for cash flow! Investment or move right in. The 1st and 2nd floors are rented and the 3rd floor is vacant but can be rented very quickly. The units have separate utilities and tenants pay their own natural gas heat and hot water. All units are large with THREE BEDROOMS each so you can get the most cash flow as possible. There is also plenty of off-street parking. Make an offer today before it goes!

22. 2024-02-21
    historical Under Contract - Continue to Show 435-char remark

    Show marketing remark (435 chars)

    Large Three Family property ready for cash flow! Investment or move right in. The 1st and 2nd floors are rented and the 3rd floor is vacant but can be rented very quickly. The units have separate utilities and tenants pay their own natural gas heat and hot water. All units are large with THREE BEDROOMS each so you can get the most cash flow as possible. There is also plenty of off-street parking. Make an offer today before it goes!

23. 2024-02-13
    listed $264,900 Active 435-char remark

    Show marketing remark (435 chars)

    Large Three Family property ready for cash flow! Investment or move right in. The 1st and 2nd floors are rented and the 3rd floor is vacant but can be rented very quickly. The units have separate utilities and tenants pay their own natural gas heat and hot water. All units are large with THREE BEDROOMS each so you can get the most cash flow as possible. There is also plenty of off-street parking. Make an offer today before it goes!

24. 2021-11-18
    historical
25. 2021-11-08
    listed $149,900 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $89,844
• − Mortgage interest: −$23,241
• − Property taxes: −$6,224
• − Insurance: −$2,074
• − Repairs & maintenance: −$7,188
• − Management: −$7,188
• − Depreciation: −$12,070
• Taxable income: $31,860
• Est. tax owed @ 24.0%: −$7,646
• After-tax cash flow: $28,923/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 · 9 photos

Fair 45/100 Moderate rehab

This three-family home requires significant repairs and maintenance to improve its condition and value. Immediate attention to the roof, exterior, and interior walls is necessary to prevent further damage and enhance its appeal.

Repairs flagged

• Major roof — Visible damage and wear
• Major exterior — Significant snow and ice accumulation
• Major interior walls — Painted walls appear chipped and worn
• Major flooring — Worn and possibly damaged
• Major systems — Exposed electrical and plumbing systems in poor condition

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace worn flooring — Improves living space and rental appeal
• Both Repair chipped walls — Enhances interior appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Visible damage and wear	Major	$15,000–50,000
exterior · Significant snow and ice accumulation	Major	$15,000–50,000
interior walls · Painted walls appear chipped and worn	Major	$15,000–50,000
flooring · Worn and possibly damaged	Major	$15,000–50,000
systems · Exposed electrical and plumbing systems in poor condition	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace worn flooring — Improves living space and rental appeal ↑
• Both Repair chipped walls — Enhances interior appearance 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: 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): 13,926
• Household income: $34,830
• Rent vs Own: 87.2% rent · 12.8% own
• Severe rent burden: 1435.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 46% Black 46% Two or more races 21% White 3%
• Hispanic origin (detail): Puerto Rican 37% Dominican 1%
• Common ancestry: Estonian 1% Portuguese 1%
• Foreign-born: 14% · Canada
• Languages at home: 61% English-only · Spanish 36% 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: ▲ 7.12%
• Current HPI: 307.6427
• Rent YoY: ▲ 2.83%
• 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

+176.8% since first listed

10 events — show timeline

• 2026-03-26 Relisted — Smart MLS
• 2026-03-18 Contingent — Smart MLS
• 2026-02-26 Listed $414,900 Smart MLS
• 2026-02-20 Coming Soon $414,900 Smart MLS
• 2024-04-16 Sold (MLS) $240,000 Smart MLS
• 2024-03-28 Pending — Smart MLS
• 2024-02-21 Contingent — Smart MLS
• 2024-02-13 Listed $264,900 Smart MLS
• 2021-11-18 Listing Removed — Smart MLS
• 2021-11-08 Listed $149,900 Smart MLS