147 Martin St · Hartford, CT 06120

$345,000

5 bd · 2.0 ba · 2,096 sqft · MultiFamily public records · 136 Days on market

Built 1900 5,227 sqft lot $165/sqft · at area comps Est $342k · 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
• DSCR +10.0/10.0
• Appreciation +8.6/10.0
• 1% rule +8.2/10.0
• ARV discount +7.1/15.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Multi-family units

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

Listing remarks MLS

This attractive two family rental at 147 Martin Street blends classic charm with thoughtful updates, creating an inviting property with built in income appeal. Each unit is separately metered and supported by two gas furnaces and two electric hot water heaters, offering efficiency and straightforward management, while newer windows throughout and a recently rebuilt front porch enhance both comfort and curb appeal. An added bonus is the finished attic area, which provides flexible space ideal for an additional bedroom, home office, or playroom. The first floor unit has been recently renovated and features an eat in kitchen, stylish vinyl flooring, a remodeled bathroom, in unit laundry hookups, fresh paint completed within the last few months, and updated light fixtures with a ceiling fan. This unit is currently leased at $1,650 per month through July. The remodeled second floor unit offers its own eat in kitchen, laundry hookups, new toilet, bathtub, faucet, bathroom fixtures, a new kitchen faucet, new ceiling lights with fans, new thermostats, and has been freshly painted. This unit is leased at $1,750 per month through September. Off street parking in the driveway adds everyday convenience, along with a two car garage conveyed as is. With strong rental performance, meaningful updates, and a convenient Hartford location, this property is a compelling opportunity for investors or owner occupants seeking reliable income and long term value.

Key facts

• Two family rental
• Newer windows
• Separately metered

Tags

• TWO FAMILY RENTAL
• SEPARATELY METERED
• GAS FURNACES
• ELECTRIC HOT WATER HEATERS
• NEWER WINDOWS
• REBUILT FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $345k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $656/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $345k).
• Recommended offer: $304k (12.0% 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 $4,560/mo this rent would consume 157% 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 $27k of equity ($2k loan paydown + $25k appreciation (7.1% local appreciation)).
• At projected returns (7.1% appreciation + 2.8% rent growth), your $97k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($304k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 23y 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 $230k; list at $345k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $303,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.32% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.30%
• DSCR: 1.73
• GRM: 6.3

CMA / ARV

• ARV (median comp): $341,802
• List price: $345,000
• Delta: 0.94%
• 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: 31.0%
• Equity multiple: 3.13×
• Total profit: $205,743
• Equity at exit: $241,698

10-year hold

• IRR: 28.1%
• Equity multiple: 6.52×
• Total profit: $533,681
• Equity at exit: $461,511

Cash invested: $96,600 (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: 12.6×

Monthly cashflow live

• Estimated rent: $4,560 medium
• Mortgage (P&I): −$1,809
• Tax from tax record: −$337 /mo · $4,047/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$958
• Net cashflow: $1,312

Break-even live

Break-even rent $2,899

Max offer price $345,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,507	-5% $1,410	+0% $1,312	+5% $1,215	+10% $1,117
Rent	-10% $952	-5% $1,132	+0% $1,312	+5% $1,492	+10% $1,672
Rate	-1.0pp $1,486	-0.5pp $1,400	base $1,312	+0.5pp $1,223	+1.0pp $1,132

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,560
Total (2 units)			$4,560

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Listing history 45 events

1. 2026-06-07
   statusdays on market $345,000 Under Contract 136 DOM
2. 2026-06-05
   days on market $345,000 Under Contract - Continue to Show 134 DOM
3. 2026-06-03
   days on market $345,000 Under Contract - Continue to Show 133 DOM
4. 2026-06-02
   days on market $345,000 Under Contract - Continue to Show 132 DOM
5. 2026-06-01
   days on market $345,000 Under Contract - Continue to Show 131 DOM
6. 2026-05-31
   days on market $345,000 Under Contract - Continue to Show 130 DOM
7. 2026-05-04
   historical Under Contract - Continue to Show 1462-char remark

   Show marketing remark (1462 chars)

   This attractive two family rental at 147 Martin Street blends classic charm with thoughtful updates, creating an inviting property with built in income appeal. Each unit is separately metered and supported by two gas furnaces and two electric hot water heaters, offering efficiency and straightforward management, while newer windows throughout and a recently rebuilt front porch enhance both comfort and curb appeal. An added bonus is the finished attic area, which provides flexible space ideal for an additional bedroom, home office, or playroom. The first floor unit has been recently renovated and features an eat in kitchen, stylish vinyl flooring, a remodeled bathroom, in unit laundry hookups, fresh paint completed within the last few months, and updated light fixtures with a ceiling fan. This unit is currently leased at $1,650 per month through July. The remodeled second floor unit offers its own eat in kitchen, laundry hookups, new toilet, bathtub, faucet, bathroom fixtures, a new kitchen faucet, new ceiling lights with fans, new thermostats, and has been freshly painted. This unit is leased at $1,750 per month through September. Off street parking in the driveway adds everyday convenience, along with a two car garage conveyed as is. With strong rental performance, meaningful updates, and a convenient Hartford location, this property is a compelling opportunity for investors or owner occupants seeking reliable income and long term value.

8. 2026-04-08
   status Active 1462-char remark

   Show marketing remark (1462 chars)

   This attractive two family rental at 147 Martin Street blends classic charm with thoughtful updates, creating an inviting property with built in income appeal. Each unit is separately metered and supported by two gas furnaces and two electric hot water heaters, offering efficiency and straightforward management, while newer windows throughout and a recently rebuilt front porch enhance both comfort and curb appeal. An added bonus is the finished attic area, which provides flexible space ideal for an additional bedroom, home office, or playroom. The first floor unit has been recently renovated and features an eat in kitchen, stylish vinyl flooring, a remodeled bathroom, in unit laundry hookups, fresh paint completed within the last few months, and updated light fixtures with a ceiling fan. This unit is currently leased at $1,650 per month through July. The remodeled second floor unit offers its own eat in kitchen, laundry hookups, new toilet, bathtub, faucet, bathroom fixtures, a new kitchen faucet, new ceiling lights with fans, new thermostats, and has been freshly painted. This unit is leased at $1,750 per month through September. Off street parking in the driveway adds everyday convenience, along with a two car garage conveyed as is. With strong rental performance, meaningful updates, and a convenient Hartford location, this property is a compelling opportunity for investors or owner occupants seeking reliable income and long term value.

9. 2026-03-31
   status Under Contract 1462-char remark

   Show marketing remark (1462 chars)

   This attractive two family rental at 147 Martin Street blends classic charm with thoughtful updates, creating an inviting property with built in income appeal. Each unit is separately metered and supported by two gas furnaces and two electric hot water heaters, offering efficiency and straightforward management, while newer windows throughout and a recently rebuilt front porch enhance both comfort and curb appeal. An added bonus is the finished attic area, which provides flexible space ideal for an additional bedroom, home office, or playroom. The first floor unit has been recently renovated and features an eat in kitchen, stylish vinyl flooring, a remodeled bathroom, in unit laundry hookups, fresh paint completed within the last few months, and updated light fixtures with a ceiling fan. This unit is currently leased at $1,650 per month through July. The remodeled second floor unit offers its own eat in kitchen, laundry hookups, new toilet, bathtub, faucet, bathroom fixtures, a new kitchen faucet, new ceiling lights with fans, new thermostats, and has been freshly painted. This unit is leased at $1,750 per month through September. Off street parking in the driveway adds everyday convenience, along with a two car garage conveyed as is. With strong rental performance, meaningful updates, and a convenient Hartford location, this property is a compelling opportunity for investors or owner occupants seeking reliable income and long term value.

10. 2026-01-29
    historical Under Contract - Continue to Show 1462-char remark

    Show marketing remark (1462 chars)

    This attractive two family rental at 147 Martin Street blends classic charm with thoughtful updates, creating an inviting property with built in income appeal. Each unit is separately metered and supported by two gas furnaces and two electric hot water heaters, offering efficiency and straightforward management, while newer windows throughout and a recently rebuilt front porch enhance both comfort and curb appeal. An added bonus is the finished attic area, which provides flexible space ideal for an additional bedroom, home office, or playroom. The first floor unit has been recently renovated and features an eat in kitchen, stylish vinyl flooring, a remodeled bathroom, in unit laundry hookups, fresh paint completed within the last few months, and updated light fixtures with a ceiling fan. This unit is currently leased at $1,650 per month through July. The remodeled second floor unit offers its own eat in kitchen, laundry hookups, new toilet, bathtub, faucet, bathroom fixtures, a new kitchen faucet, new ceiling lights with fans, new thermostats, and has been freshly painted. This unit is leased at $1,750 per month through September. Off street parking in the driveway adds everyday convenience, along with a two car garage conveyed as is. With strong rental performance, meaningful updates, and a convenient Hartford location, this property is a compelling opportunity for investors or owner occupants seeking reliable income and long term value.

11. 2026-01-13
    listed $345,000 Active 1462-char remark

    Show marketing remark (1462 chars)

    This attractive two family rental at 147 Martin Street blends classic charm with thoughtful updates, creating an inviting property with built in income appeal. Each unit is separately metered and supported by two gas furnaces and two electric hot water heaters, offering efficiency and straightforward management, while newer windows throughout and a recently rebuilt front porch enhance both comfort and curb appeal. An added bonus is the finished attic area, which provides flexible space ideal for an additional bedroom, home office, or playroom. The first floor unit has been recently renovated and features an eat in kitchen, stylish vinyl flooring, a remodeled bathroom, in unit laundry hookups, fresh paint completed within the last few months, and updated light fixtures with a ceiling fan. This unit is currently leased at $1,650 per month through July. The remodeled second floor unit offers its own eat in kitchen, laundry hookups, new toilet, bathtub, faucet, bathroom fixtures, a new kitchen faucet, new ceiling lights with fans, new thermostats, and has been freshly painted. This unit is leased at $1,750 per month through September. Off street parking in the driveway adds everyday convenience, along with a two car garage conveyed as is. With strong rental performance, meaningful updates, and a convenient Hartford location, this property is a compelling opportunity for investors or owner occupants seeking reliable income and long term value.

12. 2023-12-19
    status Under Contract 329-char remark

    Show marketing remark (329 chars)

    Why you rent if you can own?? GREAT opportunity to own this Duplex for sell!! 147 Martin St. Two Family house. 2 bedrooms on the first floor. And three bedrooms on the second floor. Two car garage. Close to public transportation. All units has separate utilities. Gas. Don't miss this opportunity scheduled your private tour now.

13. 2023-12-04
    soldstatus $230,000
14. 2023-12-01
    soldstatus $230,000 Closed 329-char remark

    Show marketing remark (329 chars)

    Why you rent if you can own?? GREAT opportunity to own this Duplex for sell!! 147 Martin St. Two Family house. 2 bedrooms on the first floor. And three bedrooms on the second floor. Two car garage. Close to public transportation. All units has separate utilities. Gas. Don't miss this opportunity scheduled your private tour now.

15. 2023-11-07
    historical Under Contract - Continue to Show 329-char remark

    Show marketing remark (329 chars)

    Why you rent if you can own?? GREAT opportunity to own this Duplex for sell!! 147 Martin St. Two Family house. 2 bedrooms on the first floor. And three bedrooms on the second floor. Two car garage. Close to public transportation. All units has separate utilities. Gas. Don't miss this opportunity scheduled your private tour now.

16. 2023-10-31
    listed $230,000 Active 329-char remark

    Show marketing remark (329 chars)

    Why you rent if you can own?? GREAT opportunity to own this Duplex for sell!! 147 Martin St. Two Family house. 2 bedrooms on the first floor. And three bedrooms on the second floor. Two car garage. Close to public transportation. All units has separate utilities. Gas. Don't miss this opportunity scheduled your private tour now.

17. 2023-04-29
    historical
18. 2023-04-15
    listed $189,000 Active
19. 2022-01-22
    historical
20. 2021-11-18
    listed $194,900 Active
21. 2020-03-03
    soldstatus $125,000
22. 2020-02-28
    soldstatus $62,500 Closed
23. 2020-02-25
    historical Under Contract - Continue to Show
24. 2019-09-09
    status Active
25. 2019-08-09
    historical Under Contract - Continue to Show
26. 2019-06-09
    price $79,900
27. 2019-03-24
    listed $84,900 Active
28. 2019-02-16
    historical
29. 2018-09-18
    price $104,900
30. 2018-07-20
    listed $119,900 Active
31. 2016-06-30
    historical
32. 2015-05-11
    listed $144,900
33. 2014-11-30
    historical
34. 2013-08-06
    listed $89,900
35. 2012-04-30
    historical
36. 2011-09-10
    listed $100,000
37. 2011-08-31
    historical
38. 2011-01-03
    listed $110,000
39. 2010-12-31
    historical
40. 2010-04-02
    listed $110,000
41. 2007-11-16
    soldstatus $43,000
42. 2007-09-06
    listed $59,900
43. 2004-08-05
    soldstatus $150,000
44. 2004-01-06
    soldstatus $40,000
45. 2003-11-18
    listed $44,500

ⓘ 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: $4,047 · $337/mo
• Projected year-2 tax: $5,715 · $476/mo
• Expected delta: +$1,668/yr (+$139/mo · 41.2%)

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

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: $54,720
• − Mortgage interest: −$19,325
• − Property taxes: −$4,047
• − Insurance: −$1,725
• − Repairs & maintenance: −$4,378
• − Management: −$4,378
• − Depreciation: −$10,036
• Taxable income: $10,831
• Est. tax owed @ 24.0%: −$2,599
• After-tax cash flow: $13,147/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: 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

+675.3% since first listed

39 events — show timeline

• 2026-05-04 Contingent — Smart MLS
• 2026-04-08 Relisted — Smart MLS
• 2026-03-31 Pending — Smart MLS
• 2026-01-29 Contingent — Smart MLS
• 2026-01-13 Listed $345,000 Smart MLS
• 2023-12-19 Pending — Smart MLS
• 2023-12-04 Sold (Public Records) $230,000 Public Records
• 2023-12-01 Sold (MLS) $230,000 Smart MLS
• 2023-11-07 Contingent — Smart MLS
• 2023-10-31 Listed $230,000 Smart MLS
• 2023-04-29 Listing Removed — Smart MLS
• 2023-04-15 Listed $189,000 Smart MLS
• 2022-01-22 Listing Removed — Smart MLS
• 2021-11-18 Listed $194,900 Smart MLS
• 2020-03-03 Sold (Public Records) $125,000 Public Records
• 2020-02-28 Sold (MLS) $62,500 Smart MLS
• 2020-02-25 Contingent — Smart MLS
• 2019-09-09 Relisted — Smart MLS
• 2019-08-09 Contingent — Smart MLS
• 2019-06-09 Price Changed $79,900 Smart MLS
• 2019-03-24 Listed $84,900 Smart MLS
• 2019-02-16 Listing Removed — Smart MLS
• 2018-09-18 Price Changed $104,900 Smart MLS
• 2018-07-20 Listed $119,900 Smart MLS
• 2016-06-30 Listing Removed — Smart MLS
• 2015-05-11 Listed $144,900 Smart MLS
• 2014-11-30 Listing Removed — Smart MLS
• 2013-08-06 Listed $89,900 Smart MLS
• 2012-04-30 Listing Removed — Smart MLS
• 2011-09-10 Listed $100,000 Smart MLS
• 2011-08-31 Listing Removed — Smart MLS
• 2011-01-03 Listed $110,000 Smart MLS
• 2010-12-31 Listing Removed — Smart MLS
• 2010-04-02 Listed $110,000 Smart MLS
• 2007-11-16 Sold (MLS) $43,000 Smart MLS
• 2007-09-06 Listed $59,900 Smart MLS
• 2004-08-05 Sold (Public Records) $150,000 Public Records
• 2004-01-06 Sold (MLS) $40,000 Smart MLS
• 2003-11-18 Listed $44,500 Smart MLS

Property tax history

+3.1%/yr

Latest (2025): $4,047 · +0.0% YoY. Source: county tax records.