801 Corbin Ave · New Britain, CT 06052

$349,900

5 bd · 2.0 ba · 2,814 sqft · MultiFamily public records · 5 Days on market

Built 1940 9,583 sqft lot Est $425k · 18% under

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Why this score? — see what drove the C+ 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 +18.6/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.9/10.0
• 1% rule +5.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Multi-family units

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

Listing remarks

Great potential for rental income or extended families. Solid 2 Family with vinyl siding and hardwood floors. Each unit has a wood fireplace. Upper unit has a walk-up attic for potential expansion. 2 car detached garage and home has new roof and newer heating systems. Separate utilities. Easy access to I84. Sold as is Home is vacant and ready to go.

Key facts

• Wood fireplace
• Vinyl siding
• Walk-up attic

Tags

• VINYL SIDING
• HARDWOOD FLOORS
• WOOD FIREPLACE
• WALK-UP ATTIC
• DETACHED GARAGE
• NEW ROOF

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (2-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Vinyl siding; Built living area approximately 2814 (public record)
• Exterior features: Level lot; Sidewalk

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water and steam heating; Oil-fired hot water/steam system; fuel tank in basement; Domestic hot water provided by oil
• Interior features: 10 total rooms; 2 fireplaces; Full, unfinished basement with concrete floor; Has attic; partially finished walk-up attic; Two-unit layout (2-family, total of 2 units)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive. Per door: $171/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 7.5% vs local median 4.4% 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, schools F.
• 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.
• Market conditions: 22 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $349,900

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 1940 — 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: 1.05% ✓
• Cap rate: 7.47%
• Cash-on-cash: 4.20%
• DSCR: 1.19
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $424,914
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
134-136 Black Rock Ave	0.28mi	5/3.0	2,862 (+2%)	3mo	$490,000	$171	78
74 Garden St	0.26mi	6/2.0 (+1)	2,780 (-1%)	10mo	$420,000	$151	73
126 Winthrop St	0.62mi	6/2.0 (+1)	2,772 (-2%)	3mo	$485,000	$175	61
93 Winthrop St	0.69mi	4/2.0 (-1)	2,880 (+2%)	5mo	$250,000	$87	55
152 Lyons St	0.70mi	6/2.0 (+1)	2,912 (+4%)	4mo	$440,000	$151	53
93 S Burritt St	0.30mi	6/3.0 (+1)	3,126 (+11%)	8mo	$470,000	$150	52
96 Garden St	0.28mi	5/4.0	2,393 (-15%)	6mo	$400,000	$167	50
26 Liberty St	0.48mi	6/2.0 (+1)	2,634 (-6%)	17mo	$370,000	$140	48
28 Newfield Ave	0.56mi	5/2.0	2,604 (-8%)	16mo	$445,000	$171	48
19 Madison St	0.69mi	4/2.0 (-1)	2,508 (-11%)	5mo	$375,000	$150	40
19 Ridgewood St	0.62mi	6/2.0 (+1)	2,408 (-14%)	8mo	$410,000	$170	36
574 W Main St	0.49mi	6/3.0 (+1)	3,216 (+14%)	16mo	$436,500	$136	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 3.17×
• Total profit: $212,536
• Equity at exit: $315,218

10-year hold

• IRR: 23.9%
• Equity multiple: 7.22×
• Total profit: $609,021
• Equity at exit: $679,779

Cash invested: $97,972 (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 06052

• Home prices YoY: 13.2%
• Active inventory: 22
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $3,689 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$591 /mo · $7,092/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$775
• Net cashflow: $343

Break-even live

Break-even rent $3,255

Max offer price $349,900

Occupancy floor 86%

Sensitivity live

Price	-10% $541	-5% $442	+0% $343	+5% $244	+10% $145
Rent	-10% $51	-5% $197	+0% $343	+5% $488	+10% $634
Rate	-1.0pp $519	-0.5pp $432	base $343	+0.5pp $252	+1.0pp $160

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,688
Total (2 units)			$3,689

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
146 Sterling St New Britain, CT	4.0	1.0	2786	$2,700	$0.97	3d	1	1.34mi
45 Union St New Britain, CT	5.0	2.0	2060	$2,800	$1.36	25d	1	1.48mi

Listing history 5 events

1. 2026-06-16
   status $349,900 Under Contract 5 DOM
2. 2026-06-15
   days on market $349,900 Active 5 DOM
3. 2026-06-13
   days on market $349,900 Active 3 DOM
4. 2026-06-13
   remarks 351-char remark
5. 2026-06-13
   listed $349,900 Active 2 DOM

ⓘ 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: $7,092 · $591/mo
• Projected year-2 tax: $7,290 · $607/mo
• Expected delta: +$198/yr (+$16/mo · 2.8%)

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

Taxation est. · year 1

• Rental income: $44,268
• − Mortgage interest: −$19,600
• − Property taxes: −$7,092
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,541
• − Management: −$3,541
• − Depreciation: −$10,179
• Taxable loss: −$1,435
• Est. tax savings @ 24.0%: +$344
• After-tax cash flow: $4,456/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
• City population: 66,322
• Population (ZIP): 8,232

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 47% Hispanic / Latino 38% Two or more races 17% Black 11%
• Hispanic origin (detail): Puerto Rican 25% Dominican 2% Salvadoran 1%
• Common ancestry: Romanian 13% Lithuanian 3% Italian 1%
• Foreign-born: 13% · Canada
• Languages at home: 64% English-only · Spanish 29% Russian/Polish/Slavic 4% French/Haitian/Cajun 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: ▲ 42.04%
• Current HPI: 359.7743
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-10 Listed $349,900 Smart MLS

Property tax history

+2.2%/yr

Latest (2025): $7,092 · +2.4% YoY. Source: county tax records.