49-51 Pliny St · Hartford, CT 06120

$419,000

8 bd · 3.0 ba · 3,569 sqft · MultiFamily · 4 Days on market

Built 1900 Good condition 4,791 sqft lot

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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
• 1% rule +8.8/10.0
• Appreciation +8.6/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• 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

Exceptional investment opportunity! Solid brick three level multifamily with a stable income stream. Major improvements have been completed including the roof, interior updates and appliances giving peace of mind to both investor and homeowner alike. Separate natural gas heating systems, electrical and hot water heaters for each unit. The first floor & second floor mirror each other, featuring three bedrooms, 1 full bath, living room and eat-in kitchen. Third floor offers the same with two bedrooms. Plenty of off street parking and a large backyard for entertaining. Perfect for first time buyers or investment portfolio expansion. Schedule your viewing today!! Scheduled appointments ne

Key facts

• Solid brick
• Large backyard
• Major improvements

Tags

• SOLID BRICK
• THREE LEVEL MULTIFAMILY
• MAJOR IMPROVEMENTS
• LARGE BACKYARD

Property features AI

Exterior

• Parking: Off-street parking; Six total parking spaces
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (3-family)
• Construction: Brick construction; Concrete foundation; Asphalt shingle roof; Built as a multi-family building
• Exterior features: Level lot; Brick exterior

Interior

• Bedrooms: Eight bedrooms
• Bathrooms: Three full bathrooms
• Heating & cooling: Hot water heating; Natural gas fuel
• Interior features: Full, unfinished basement; Total of 14 rooms; Three full bathrooms
• Laundry & utility: 40-gallon hot water tank

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $419k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $814/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $419k).

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: Wish Museum School (math 8% / reading 8%, grade F, #529 of 553 statewide, top 97%, 291 students, 90% FRL); Hartford Public High School (math 2% / reading 12%, grade F, #188 of 194 statewide, top 98%, 709 students, 82% FRL) — zoned schools at 86% FRL track the district average.
• 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 $5,797/mo this rent would consume 200% 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 $33k of equity ($3k loan paydown + $30k appreciation (7.1% local appreciation)).
• At projected returns (7.1% appreciation + 2.8% rent growth), your $117k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $419,000

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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.38% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.22%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.12% appreciation · 2.83% rent growth · sell at horizon

5-year hold

• IRR: 31.3%
• Equity multiple: 3.15×
• Total profit: $252,156
• Equity at exit: $293,540

10-year hold

• IRR: 28.3%
• Equity multiple: 6.57×
• Total profit: $653,255
• Equity at exit: $560,501

Cash invested: $117,320 (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: 12.0×

Monthly cashflow live

• Estimated rent: $5,797 medium
• Mortgage (P&I): −$2,197
• Tax est. 1.5%: −$524 /mo · $6,285/yr
• Insurance: −$175
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,217
• Net cashflow: $1,628

Break-even live

Break-even rent $3,736

Max offer price $419,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,918	-5% $1,773	+0% $1,628	+5% $1,484	+10% $1,339
Rent	-10% $1,171	-5% $1,399	+0% $1,628	+5% $1,857	+10% $2,086
Rate	-1.0pp $1,839	-0.5pp $1,735	base $1,628	+0.5pp $1,520	+1.0pp $1,409

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$5,796
Total (2 units)			$5,797

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-22
   days on market $419,000 Active 4 DOM
2. 2026-06-17
   remarks 695-char remark
3. 2026-06-17
   listed $419,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 96% 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: $69,564
• − Mortgage interest: −$23,471
• − Property taxes: −$6,285
• − Insurance: −$2,762
• − Repairs & maintenance: −$5,565
• − Management: −$5,565
• − Depreciation: −$12,189
• Taxable income: $13,728
• Est. tax owed @ 24.0%: −$3,295
• After-tax cash flow: $16,247/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.

Condition & rehab AI · 2 photos

Good 80/100 Cosmetic rehab

This well-maintained multi-family home with recent improvements is ready for a new owner. It offers a stable income stream and potential for further value appreciation through cosmetic updates.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and creates a more inviting environment
• Both New flooring in common areas — Improves aesthetics and adds value
• Both New kitchen appliances — Modernizes the space and adds value
• Both New bathroom fixtures — Modernizes the space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and creates a more inviting environment ↑
• Both New flooring in common areas — Improves aesthetics and adds value ↑
• Both New kitchen appliances — Modernizes the space and adds value ↑
• Both New bathroom fixtures — Modernizes the space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-17 Listed $419,000 Smart MLS