44 Woodland St · New Britain, CT 06051

$449,900

6 bd · 3.0 ba · 2,515 sqft · MultiFamily public records · 5 Days on market

Built 1915 5,227 sqft lot $179/sqft · 14% above area Est $428k · 5% over

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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 +28.3/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +5.2/15.0
• 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

Attn Investors!! Completely Remodeled 3 Family Building in a highly desirable rental market. Turn key with below market rents. Huge 3 bedroom units, fully rented that feature Hardwood Flooring, Updated Kitchens and Baths, Newer Roof, Windows, Siding, Furnaces, Hot Water Heaters, Plumbing, and Electrical. 2 Decks per unit, Off street parking with a big parking lot in the back. Laundry hook ups in the basement for each unit! Won't last long! MUST SEE

Key facts

• 5,227 sq ft lot
• Built 1915
• Listed 5 days

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas hot water
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Concrete foundation
• Exterior features: Vinyl siding; Asphalt shingle roof

Interior

• Bedrooms: 11 total bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heat fueled by natural gas; Window unit cooling
• Interior features: Full basement; Has attic with access via hatch; Total of 17 rooms

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/1.0-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $482/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $450k).
• Cap rate 10.1% vs local median 4.2% 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.
• 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.
• Zoned schools: New Britain High School (math 10% / reading 31%, grade F, #162 of 194 statewide, top 83%, 2,331 students, 71% FRL) — zoned schools at 71% FRL track the district average.
• 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 $5,839/mo this rent would consume 137% 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 $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $126k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $192k; list at $450k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — 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 $449,900

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: 1.30% ✓
• Cap rate: 10.15%
• Cash-on-cash: 13.76%
• DSCR: 1.61
• GRM: 6.4

CMA / ARV

• ARV (median comp): $427,663
• List price: $449,900
• Delta: 5.20%
• 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
484 Church St	0.13mi	5/3.0 (-1)	2,620 (+4%)	0mo	$430,000	$164	81
163 Fairview St	0.23mi	6/2.5	2,480 (-1%)	10mo	$400,000	$161	77
29 Olive St	0.19mi	6/3.0	2,668 (+6%)	5mo	$400,000	$150	77
11 Dwight Ct	0.14mi	6/3.0	2,210 (-12%)	3mo	$290,000	$131	71
159 Rhodes St	0.42mi	6/2.0	2,600 (+3%)	3mo	$435,000	$167	69
23 Edward St	0.55mi	6/3.0	2,482 (-1%)	4mo	$360,000	$145	68
154 Daly Ave	0.68mi	6/3.0	2,520 (+0%)	8mo	$402,000	$160	61
112 Austin St	0.50mi	6/3.0	2,766 (+10%)	1mo	$485,000	$175	59
267 Chapman St	0.35mi	5/3.0 (-1)	2,318 (-8%)	8mo	$360,000	$155	59
408 East St	0.40mi	6/4.0	2,231 (-11%)	9mo	$440,000	$197	52
18 Union St	0.63mi	6/2.0	2,288 (-9%)	4mo	$365,000	$160	48
9 E Lawlor St	0.72mi	6/5.0	2,330 (-7%)	5mo	$465,000	$200	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: 33.0%
• Equity multiple: 3.54×
• Total profit: $320,048
• Equity at exit: $405,306

10-year hold

• IRR: 27.5%
• Equity multiple: 7.67×
• Total profit: $839,742
• Equity at exit: $874,057

Cash invested: $125,972 (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: 19.3×

Monthly cashflow live

• Estimated rent: $5,839 high
• Mortgage (P&I): −$2,359
• Tax from tax record: −$621 /mo · $7,457/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,226
• Net cashflow: $1,445

Break-even live

Break-even rent $4,010

Max offer price $449,900

Occupancy floor 70%

Sensitivity live

Price	-10% $1,699	-5% $1,572	+0% $1,445	+5% $1,317	+10% $1,190
Rent	-10% $983	-5% $1,214	+0% $1,445	+5% $1,675	+10% $1,906
Rate	-1.0pp $1,671	-0.5pp $1,559	base $1,445	+0.5pp $1,328	+1.0pp $1,209

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	1	$5,838
Total (3 units)			$5,839

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: $112,475
• Closing costs: $13,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Union St New Britain, CT	5.0	2.0	2060	$2,800	$1.36	24d	1	0.59mi

Listing history 6 events

1. 2026-05-16
   listed $449,900 Active 1201-char remark
2. 2026-05-14
   historical $449,900 1201-char remark
3. 2015-11-16
   soldstatus $192,000
4. 2015-11-13
   soldstatus $192,000 452-char remark

   Show marketing remark (452 chars)

   Attn Investors!! Completely Remodeled 3 Family Building in a highly desirable rental market. Turn key with below market rents. Huge 3 bedroom units, fully rented that feature Hardwood Flooring, Updated Kitchens and Baths, Newer Roof, Windows, Siding, Furnaces, Hot Water Heaters, Plumbing, and Electrical. 2 Decks per unit, Off street parking with a big parking lot in the back. Laundry hook ups in the basement for each unit! Won't last long! MUST SEE

5. 2015-09-11
   historical 452-char remark

   Show marketing remark (452 chars)

   Attn Investors!! Completely Remodeled 3 Family Building in a highly desirable rental market. Turn key with below market rents. Huge 3 bedroom units, fully rented that feature Hardwood Flooring, Updated Kitchens and Baths, Newer Roof, Windows, Siding, Furnaces, Hot Water Heaters, Plumbing, and Electrical. 2 Decks per unit, Off street parking with a big parking lot in the back. Laundry hook ups in the basement for each unit! Won't last long! MUST SEE

6. 2015-07-15
   listed $209,900 452-char remark

   Show marketing remark (452 chars)

   Attn Investors!! Completely Remodeled 3 Family Building in a highly desirable rental market. Turn key with below market rents. Huge 3 bedroom units, fully rented that feature Hardwood Flooring, Updated Kitchens and Baths, Newer Roof, Windows, Siding, Furnaces, Hot Water Heaters, Plumbing, and Electrical. 2 Decks per unit, Off street parking with a big parking lot in the back. Laundry hook ups in the basement for each unit! Won't last long! MUST SEE

ⓘ 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: $7,457 · $621/mo
• Projected year-2 tax: $8,542 · $712/mo
• Expected delta: +$1,085/yr (+$90/mo · 14.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,068
• − Mortgage interest: −$25,201
• − Property taxes: −$7,457
• − Insurance: −$2,250
• − Repairs & maintenance: −$5,605
• − Management: −$5,605
• − Depreciation: −$13,088
• Taxable income: $10,861
• Est. tax owed @ 24.0%: −$2,607
• After-tax cash flow: $14,729/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

+114.3% since first listed

7 events — show timeline

• 2026-05-21 Pending — Smart MLS
• 2026-05-16 Listed $449,900 Smart MLS
• 2026-05-14 Coming Soon $449,900 Smart MLS
• 2015-11-16 Sold (Public Records) $192,000 Public Records
• 2015-11-13 Sold (MLS) $192,000 Smart MLS
• 2015-09-11 Listing Removed — Smart MLS
• 2015-07-15 Listed $209,900 Smart MLS

Property tax history

+3.6%/yr

Latest (2025): $7,457 · +2.3% YoY. Source: county tax records.