156 Prospect St · Bristol, CT 06010

$340,000

4 bd · 2.0 ba · 1,750 sqft · MultiFamily public records · 3 Days on market

Built 1900 0.26 ac lot Est $345k · at est.

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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 +20.3/30.0
• ARV discount +8.1/15.0
• DSCR +6.4/10.0
• 1% rule +5.0/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Great investment opportunity. Spacious two-family nestled on an amazing & spacious lot. Large units : each featuring two bedrooms + full bath & individual washer & dryer hook-up in each unit. Large basement offering ample storage + convenient off street parking. Enclosed porches & private entry. Great opportunity for investment or owner occupant purchase. Live in one unit and collect rent for mortgage from the other! Serene neighborhood - yet easy access to restaurants, shopping & highways for commute. Walking distance to the boulevard to enjoy many of Bristol’s wonderful events & parades. Need a little notice for showings to alert tenants. First floor has brand new carpeting & available for owner occupant! Don’t delay - request your private showing or Text for more info !

Key facts

• Large backyard
• Natural gas heat
• 0.26 acre lot

Tags

• HIGH-EFFICIENCY GAS BOILER
• NATURAL GAS HEAT
• LARGE BACKYARD

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Gas available in street
• Home design: Multi-family 2-family property
• Construction: Concrete construction; Concrete foundation; Asphalt shingle roof; Built area approximately 1750 (public record)
• Exterior features: Level lot; Shingle siding

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Window unit cooling; Tankless hot water
• Interior features: Total of 10 rooms; Attic present; No basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive. Per door: $218/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $340k).
• Cap rate 7.8% vs local median 3.3% in Bristol — 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 81/100 on livability (#21 in CT, #1,585 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: schools C-, commute F.
• Bristol School District (suburban): math 28% / reading 44% proficiency, ranked #109 of 153 in CT (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.4%/yr); 222 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $3,410/mo this rent would consume 52% of the median local household income ($79k/yr) (locally 2172% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $202k; list at $340k implies a 69% 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 8→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $340,000

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 1900 — 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. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.50%
• DSCR: 1.24
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $344,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
176 Prospect St	0.04mi	4/2.0	1,753 (+0%)	17mo	$340,000	$194	84
64 Seymour St	0.38mi	5/2.0 (+1)	1,790 (+2%)	4mo	$382,500	$214	70
264 Riverside Ave	0.24mi	4/2.0	1,685 (-4%)	18mo	$180,000	$107	68
15 Lincoln Pl	0.63mi	4/2.0	1,626 (-7%)	1mo	$355,000	$218	58
172 North St	0.72mi	4/2.0	1,636 (-6%)	3mo	$319,900	$196	52
15 Carlson St	0.51mi	4/2.0	1,952 (+12%)	7mo	$373,000	$191	51
22 South St	0.68mi	3/2.0 (-1)	1,824 (+4%)	10mo	$360,000	$197	48
18 Park St	0.70mi	4/2.0	1,889 (+8%)	8mo	$350,000	$185	47
24 Center St	0.67mi	4/2.0	1,632 (-7%)	14mo	$355,000	$218	45
29 South Street Ext	0.70mi	5/2.0 (+1)	1,692 (-3%)	15mo	$340,000	$201	45
68 Center St	0.60mi	4/2.0	2,008 (+15%)	5mo	$325,000	$162	44
59 Judd St	0.74mi	4/3.0	1,591 (-9%)	22mo	$325,500	$205	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.41% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-18,843
• Equity at exit: $50,695

10-year hold

• IRR: 7.1%
• Equity multiple: 1.59×
• Total profit: $55,860
• Equity at exit: $29,397

Cash invested: $95,200 (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 06010

• Rents YoY: 5.4%
• Active inventory: 222
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $3,410 high
• Mortgage (P&I): −$1,783
• Tax from tax record: −$333 /mo · $3,995/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $436

Break-even live

Break-even rent $2,858

Max offer price $340,000

Occupancy floor 82%

Sensitivity live

Price	-10% $629	-5% $533	+0% $436	+5% $340	+10% $244
Rent	-10% $167	-5% $302	+0% $436	+5% $571	+10% $706
Rate	-1.0pp $608	-0.5pp $523	base $436	+0.5pp $348	+1.0pp $259

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,410
Total (2 units)			$3,410

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36 High St Bristol, CT	4.0	1.0	2286	$2,500	$1.09	4d	1	0.23mi
30 High St Unit 36H 2ND Bristol, CT	4.0	1.5	2133	$2,550	$1.20	17d	1	0.24mi
100 Main St Unit 307 Bristol, CT	3.0	2.0	1607	$2,700	$1.68	45d	1	0.34mi
130 N Main St Unit 130-206 Bristol, CT	3.0	2.0	1441	$2,700	$1.87	24d	1	0.49mi
130 Church St Bristol, CT	3.0	1.5	1422	$1,900	$1.34	13d	1	0.49mi
22 Kelley St Bristol, CT	3.0	1.0	2231	$1,675	$0.75	4d	1	0.59mi
22 Kelley St Bristol, CT	3.0	1.0	2231	$1,675	$0.75	45d	1	0.59mi
62 Briarwood Rd Apt 2 Bristol, CT	3.0	1.0	1400	$1,900	$1.36	45d	1	0.78mi
149 Union St Unit 149-08 Bristol, CT	3.0	1.5	1250	$2,450	$1.96	2d	1	0.78mi
380 King St #5 Bristol, CT	3.0	2.5	1440	$2,750	$1.91	21d	1	0.97mi
9 Daniel Rd Unit 9B Bristol, CT	3.0	1.0	2568	$2,050	$0.80	17d	1	0.99mi

Listing history 3 events

1. 2026-06-21
   days on market $340,000 Active 3 DOM
2. 2026-06-19
   remarks 522-char remark
3. 2026-06-19
   listed $340,000 Active 1 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: $3,995 · $333/mo
• Projected year-2 tax: $5,636 · $470/mo
• Expected delta: +$1,640/yr (+$137/mo · 41.1%)

ⓘ 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 8 d/yr ≥95°F today · 17 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: $40,920
• − Mortgage interest: −$19,045
• − Property taxes: −$3,995
• − Insurance: −$1,700
• − Repairs & maintenance: −$3,274
• − Management: −$3,274
• − Depreciation: −$9,891
• Taxable loss: −$258
• Est. tax savings @ 24.0%: +$62
• After-tax cash flow: $5,298/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: Bristol School District
• NCES district ID: 0900510
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $59,953
• Composite: 32.07/100
• National rank: #5814
• State rank: #109 of 153 in CT

Livability — Bristol

• Score: 81/100
• State rank: #21
• US rank: #1585

Category grades

Amenities A- Commute F Cost of living B Crime A+ Employment B Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, CT
• County: Hartford County · 754,208 people
• City population: 61,684
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 61,684
• Household income: $79,314
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 2172.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 13% Black 7% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 13%
• Common ancestry: Lithuanian 11% Romanian 10% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 11% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Naugatuck Valley

• 2024 margin: Lean R (+7.4) · D 45.6% · R 53.0% · Other 1.4%
• All cycles: 2024: R+7.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -293.55%
• Current HPI: 255.5419
• Rent YoY: ▲ 5.41%
• 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

+240.0% since first listed

8 events — show timeline

• 2026-06-18 Listed $340,000 Smart MLS
• 2021-12-17 Sold (Public Records) $201,500 Public Records
• 2021-12-15 Sold (MLS) $201,500 Smart MLS
• 2021-10-30 Contingent — Smart MLS
• 2021-07-08 Listed $200,000 Smart MLS
• 2018-10-30 Sold (Public Records) $150,000 Public Records
• 1992-08-17 Sold (Public Records) $12,000 Public Records
• 1991-04-10 Sold (Public Records) $100,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $3,995 · +5.4% YoY. Source: county tax records.