21-23 Hebron St · Hartford, CT 06112

$449,000

5 bd · 3.0 ba · 3,062 sqft · MultiFamily public records · 15 Days on market

Built 1920 6,969 sqft lot $147/sqft · at area comps Est $429k · 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 +27.9/30.0
• Appreciation +10.0/10.0
• DSCR +9.9/10.0
• 1% rule +7.5/10.0
• ARV discount +5.4/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• 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: 3 units. confirmed

Listing remarks

Three family with two bedroom apartments including attic apartment. Natural gas heating system, vinyl siding, large back yard, electrical circuit breakers makes this property a gem for owner occupied investment. It also would make a good investment for investors and could pass all types of financing.

Key facts

• Large back yard
• Vinyl siding
• 6,969 sq ft lot

Tags

• NATURAL GAS HEATING SYSTEM
• VINYL SIDING
• LARGE BACK YARD
• ELECTRICAL CIRCUIT BREAKERS

Property features AI

Finance

• Financial info: Assessed value listed

Exterior

• Parking: Off-street parking; 6 total parking spaces
• Utilities: Public water connected; Public sewer connected; 30-gallon hot water tank; Gas available in street
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Built as a multi-family residence
• Exterior features: City views; Vinyl siding; Tan exterior color

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot water heating; Ceiling fans for cooling
• Interior features: Ceiling fans; Full basement; Walk-up attic

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $449k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $463/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $449k).
• Recommended offer: $442k (1.5% 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: 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: Stem Magnet At Annie Fisher School (math 27% / reading 44%, grade F, #335 of 553 statewide, top 61%, 344 students, 62% FRL) — zoned schools average 62% FRL vs 84% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 36% at this address vs 17% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Hartford School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 47 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $5,634/mo this rent would consume 152% 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 $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% 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

• It's been on market 15 days — a 2% lower offer ($442k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $320k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $442,265 (1.5% below list)

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 1920 — 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 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?
6. 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?
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: 1.25% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.26%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

• ARV (median comp): $428,692
• List price: $449,000
• Delta: 4.74%
• Verdict: FAIR
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 34.0%
• Equity multiple: 3.65×
• Total profit: $333,079
• Equity at exit: $404,495

10-year hold

• IRR: 29.3%
• Equity multiple: 8.25×
• Total profit: $911,400
• Equity at exit: $872,308

Cash invested: $125,720 (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: 19.9×

Monthly cashflow live

• Estimated rent: $5,634 medium
• Mortgage (P&I): −$2,355
• Tax from tax record: −$520 /mo · $6,239/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,183
• Net cashflow: $1,389

Break-even live

Break-even rent $3,875

Max offer price $449,000

Occupancy floor 70%

Sensitivity live

Price	-10% $1,643	-5% $1,516	+0% $1,389	+5% $1,262	+10% $1,135
Rent	-10% $944	-5% $1,167	+0% $1,389	+5% $1,612	+10% $1,834
Rate	-1.0pp $1,615	-0.5pp $1,503	base $1,389	+0.5pp $1,273	+1.0pp $1,155

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,634
Total (3 units)			$5,634

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
260-262 Oxford St Fl 1 Hartford, CT	5.0	2.5	2200	$3,500	$1.59	24d	1	1.39mi

Listing history 2 events

1. 2026-05-06
   listed $449,000 Active 301-char remark
2. 1986-11-01
   soldstatus $120,000

ⓘ 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: $6,239 · $520/mo
• Projected year-2 tax: $7,924 · $660/mo
• Expected delta: +$1,685/yr (+$140/mo · 27.0%)

ⓘ 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: $67,608
• − Mortgage interest: −$25,151
• − Property taxes: −$6,239
• − Insurance: −$2,245
• − Repairs & maintenance: −$5,409
• − Management: −$5,409
• − Depreciation: −$13,062
• Taxable income: $10,094
• Est. tax owed @ 24.0%: −$2,423
• After-tax cash flow: $14,249/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): 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

+274.2% since first listed

4 events — show timeline

• 2026-05-20 Pending — Smart MLS
• 2026-05-06 Listed $449,000 Smart MLS
• 2026-04-27 Sold (Public Records) $320,000 Public Records
• 1986-11-01 Sold (Public Records) $120,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $6,239 · +0.0% YoY. Source: county tax records.