161 Washington St · New Britain, CT 06051

$171,600

3 bd · 1.0 ba · 1,122 sqft · Other · 82 Days on market

Built 1919 0.25 ac lot

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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 +18.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +4.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.0/10.0

Listing remarks MLS

This property consists of a large three family with two three bedroom units andone two bedroom unit a single family house and a brick store front that is occupied by a church great cash flow

Key facts

• 0.25 acre lot
• Built 1919
• Listed 82 days

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas available
• Home design: Single-family home
• Construction: Frame construction; Concrete foundation
• Exterior features: Level lot; Vinyl siding; Asphalt shingle roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heat; Hot water: Natural gas and electric
• Interior features: Full basement with hatchway; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $172k.

Deal economics

• At list price, monthly cash flow is $156 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (1.0% below list).
• Recommended offer: $161k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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: Rents soft (-0.6%/yr); 63 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• This rent runs 40% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $161,304 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.90%
• DSCR: 1.17
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 3.05×
• Total profit: $98,445
• Equity at exit: $154,591

10-year hold

• IRR: 22.1%
• Equity multiple: 6.69×
• Total profit: $273,225
• Equity at exit: $333,381

Cash invested: $48,048 (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 06051

• Home prices YoY: 9.0%
• Rents YoY: -0.6%
• Active inventory: 63
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,699 high
• Mortgage (P&I): −$900
• Tax est. 1.5%: −$214 /mo · $2,574/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $156

Break-even live

Break-even rent $1,501

Max offer price $171,600

Occupancy floor 86%

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: $42,900
• Closing costs: $5,148
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
182 Washington St Unit 182-A New Britain, CT	3.0	1.0	1300	$1,700	$1.31	23d	1	0.07mi
182 Washington St Unit 3S New Britain, CT	3.0	1.0	1300	$1,650	$1.27	23d	1	0.07mi
100 Broad St Unit 3E New Britain, CT	3.0	1.0	915	$1,750	$1.91	43d	1	0.18mi
109 Grove St Unit 3S New Britain, CT	2.0	1.0	724	$1,650	$2.28	43d	1	0.18mi
102 Grove St New Britain, CT	2.0	1.0	950	$1,300	$1.37	43d	1	0.20mi
28 Sexton St Unit 3N New Britain, CT	2.0	1.0	1000	$1,775	$1.77	21d	1	0.22mi
10 Union St Unit 2L New Britain, CT	2.0	1.0	988	$1,600	$1.62	43d	1	0.26mi
10 Union St Unit 3R New Britain, CT	2.0	1.0	988	$1,600	$1.62	11d	1	0.26mi
70 Sexton St Unit 2S New Britain, CT	2.0	1.0	1300	$1,375	$1.06	2d	1	0.29mi
99 W Main St New Britain, CT	2.0	1.0	850	$1,500	$1.76	16d	1	0.31mi
174 Broad St New Britain, CT	2.0	1.0	915	$1,350	$1.48	43d	1	0.32mi
144 Clark St New Britain, CT	3.0	1.0	957	$1,700	$1.78	43d	1	0.32mi
144 Clark St New Britain, CT	3.0	1.0	1000	$1,700	$1.70	19d	1	0.32mi
13 Bartlett St Unit 2nd Floor New Britain, CT	4.0	1.0	1100	$2,500	$2.27	19d	1	0.34mi
49 Lawlor St Unit 1N New Britain, CT	2.0	1.0	1000	$1,600	$1.60	23d	1	0.36mi
49 Lawlor St Unit 3N New Britain, CT	2.0	1.0	850	$1,549	$1.82	23d	1	0.36mi
335 High St New Britain, CT	2.0	1.0	825	$1,550	$1.88	16d	2	0.37mi
335 High St Unit 2N New Britain, CT	2.0	1.0	800	$1,550	$1.94	23d	1	0.37mi
26 Cedar St Unit 1st Floor New Britain, CT	2.0	1.0	1000	$1,650	$1.65	43d	1	0.39mi
88 Silver St Unit 3N New Britain, CT	2.0	1.0	900	$1,700	$1.89	19d	1	0.40mi
160 Main St New Britain, CT	1.0–2.0	1.0	850	$1,950	$2.29	1d	2	0.41mi
60 Booth St Unit 3S New Britain, CT	2.0	1.0	1000	$1,400	$1.40	23d	1	0.43mi
93 Tremont St New Britain, CT	3.0	1.0	961	$1,900	$1.98	19d	1	0.44mi
24 Oak St Unit 2 New Britain, CT	3.0	1.0	1300	$1,607	$1.24	16d	1	0.49mi
19 Oak St Unit 2 New Britain, CT	2.0	1.0	1020	$1,300	$1.27	43d	1	0.51mi
45 Curtin St Fl 2 New Britain, CT	2.0	1.0	1100	$1,550	$1.41	3d	1	0.51mi
164 Curtis St Unit 2F New Britain, CT	2.0	1.0	800	$1,700	$2.12	16d	1	0.51mi
145 Smith St Unit 1 New Britain, CT	2.0	1.0	1114	$1,900	$1.71	43d	1	0.53mi
22 Wilcox St Unit 3N New Britain, CT	2.0	1.0	1000	$1,600	$1.60	23d	1	0.53mi
22 Wilcox St Unit 3N New Britain, CT	2.0	1.0	725	$1,700	$2.34	43d	1	0.53mi
14 Crown St Unit 2W New Britain, CT	2.0	1.0	1150	$1,650	$1.43	23d	1	0.54mi
24 Miller St Unit 2 New Britain, CT	2.0	1.0	1100	$1,850	$1.68	14d	1	0.54mi
329 Broad St Unit 1 New Britain, CT	2.0	1.0	948	$1,600	$1.69	43d	1	0.61mi
116 Miller St New Britain, CT	2.0	1.0	950	$1,600	$1.68	43d	1	0.62mi
152 Oak St Unit 3S New Britain, CT	3.0	1.0	878	$1,700	$1.94	21d	1	0.62mi
152 Oak St Unit 1S New Britain, CT	2.0	1.0	745	$1,600	$2.15	21d	1	0.62mi
94 Glen St New Britain, CT	3.0	1.0	1200	$1,595	$1.33	14d	1	0.68mi
61 Albany Ave Unit 3 New Britain, CT	2.0	1.0	1100	$1,550	$1.41	3d	1	0.69mi
23 Alden St New Britain, CT	2.0	1.0	1092	$1,650	$1.51	2d	1	0.71mi
371 Broad St Unit 1st Floor New Britain, CT	3.0	1.0	1128	$1,900	$1.68	43d	1	0.72mi

Listing history 20 events

1. 2026-06-15
   status $171,600 Under Contract 82 DOM
2. 2026-06-15
   days on market $171,600 Under Contract - Continue to Show 82 DOM
3. 2026-06-13
   days on market $171,600 Under Contract - Continue to Show 80 DOM
4. 2026-06-13
   days on market $171,600 Under Contract - Continue to Show 79 DOM
5. 2026-06-10
   days on market $171,600 Under Contract - Continue to Show 77 DOM
6. 2026-06-09
   days on market $171,600 Under Contract - Continue to Show 76 DOM
7. 2026-06-08
   days on market $171,600 Under Contract - Continue to Show 75 DOM
8. 2026-06-07
   days on market $171,600 Under Contract - Continue to Show 74 DOM
9. 2026-06-05
   days on market $171,600 Under Contract - Continue to Show 71 DOM
10. 2026-06-03
    days on market $171,600 Under Contract - Continue to Show 70 DOM
11. 2026-06-02
    days on market $171,600 Under Contract - Continue to Show 69 DOM
12. 2026-06-01
    days on market $171,600 Under Contract - Continue to Show 68 DOM
13. 2026-05-31
    days on market $171,600 Under Contract - Continue to Show 67 DOM
14. 2026-04-20
    historical Under Contract - Continue to Show
15. 2026-03-25
    listed $171,600 Active
16. 2005-02-10
    soldstatus $207,000
17. 2005-02-10
    soldstatus $207,000
18. 2002-10-07
    soldstatus $49,000
19. 2001-02-01
    soldstatus $62,500 190-char remark

    Show marketing remark (190 chars)

    This property consists of a large three family with two three bedroom units andone two bedroom unit a single family house and a brick store front that is occupied by a church great cash flow

20. 2000-10-11
    listed $69,900 190-char remark

    Show marketing remark (190 chars)

    This property consists of a large three family with two three bedroom units andone two bedroom unit a single family house and a brick store front that is occupied by a church great cash flow

ⓘ 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 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 · 15 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: $20,384
• − Mortgage interest: −$9,612
• − Property taxes: −$2,574
• − Insurance: −$858
• − Repairs & maintenance: −$1,631
• − Management: −$1,631
• − Depreciation: −$4,992
• Taxable loss: −$914
• Est. tax savings @ 24.0%: +$219
• After-tax cash flow: $2,092/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
• County: Hartford County · 754,208 people
• City population: 66,322
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 29,548
• Household income: $51,022
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 2100.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 30% Two or more races 17% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 40% Dominican 4%
• Common ancestry: Romanian 7% Lithuanian 6% Slovak 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 39% Russian/Polish/Slavic 6% Arabic 3%

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: ▲ 31.52%
• Current HPI: 382.7816
• Rent YoY: ▼ -0.58%
• 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

+145.5% since first listed

7 events — show timeline

• 2026-04-20 Contingent — Smart MLS
• 2026-03-25 Listed $171,600 Smart MLS
• 2005-02-10 Sold (Public Records) $207,000 Public Records
• 2005-02-10 Sold (Public Records) $207,000 Public Records
• 2002-10-07 Sold (Public Records) $49,000 Public Records
• 2001-02-01 Sold (MLS) $62,500 Smart MLS
• 2000-10-11 Listed $69,900 Smart MLS

Property tax history

+3.4%/yr

Latest (2025): $9,723 · +2.4% YoY. Source: county tax records.