46 Pleasant St · Torrington, CT 06790

$299,900

3 bd · 2.0 ba · 2,003 sqft · MultiFamily public records · 52 Days on market

Built 1900 0.32 ac lot $150/sqft · 7% above area Est $282k · 7% over

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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 +23.3/30.0
• DSCR +7.5/10.0
• 1% rule +6.0/10.0
• ARV discount +4.6/15.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Schools +2.7/10.0
• 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

A diamond in the rough! Unique opportunity for investors or owner occupants to make this 2-family property shine. Recent updates include newer roof and windows, garage vinyl siding, 100 amp electrical service upgrades for each unit and 200 amp service on garage. Each floor has 2 bedrooms with additional spaces for home office or additional living areas. Numerous possibilities for unfinished space above detached 40 x 18 garage that was once commercially zoned. Large lot with room for outdoor living, gardens and privacy. Great location with easy access to highway and shopping. Cash or hard money preferred.

Key facts

• 0.32 acre lot
• 2 garage spots
• Built 1900

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water connected; Public sewer connected; Gas available in street
• Home design: Multi-family (2-family); Multi-story layout
• Construction: Frame construction; Block and concrete foundation; Asphalt shingle roof
• Exterior features: Porch; Gutters; Garden area; Level lot; Vinyl siding; Beige exterior

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heat; Hot water provided by natural gas and electric (domestic hot water)
• Interior features: 10 total rooms; Partial, unfinished walk-out basement; Has attic with access via hatch
• Laundry & utility: Laundry hook-ups in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive. Per door: $247/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.0% in Torrington — 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 76/100 on livability (#53 in CT, #3,449 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Torrington School District (town): math 22% / reading 39% proficiency, ranked #125 of 153 in CT (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Torrington Middle School (math 18% / reading 39%, grade F, #146 of 175 statewide, top 84%, 975 students, 61% FRL); Torrington High School (math 22% / reading 47%, grade F, #121 of 194 statewide, top 64%, 1,010 students, 57% FRL) — zoned schools average 59% FRL vs 40% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.9%/yr); 189 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 91% of comp listings sitting > 30 days — soft ceiling on asking rent; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• At $3,312/mo this rent would consume 56% of the median local household income ($71k/yr) (locally 1401% 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 $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $84k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $300k implies a 445% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wind risk, 26% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.10% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.84%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $281,555
• List price: $299,900
• Delta: 6.52%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124-126 E Pearl St	0.35mi	4/2.0 (+1)	2,008 (+0%)	0mo	$255,000	$127	78
261 Hillside Ave	0.17mi	2/2.5 (-1)	2,016 (+1%)	15mo	$225,000	$112	72
218 E Pearl St	0.27mi	4/2.0 (+1)	1,886 (-6%)	5mo	$262,000	$139	68
35 School St	0.36mi	4/2.0 (+1)	2,132 (+6%)	4mo	$335,000	$157	64
200 Hillside Ave	0.11mi	4/2.0 (+1)	2,260 (+13%)	15mo	$372,000	$165	56
20 Grove St	0.41mi	4/2.0 (+1)	2,072 (+3%)	21mo	$270,000	$130	53
112 Brookside Ave	0.32mi	4/2.0 (+1)	1,806 (-10%)	15mo	$348,000	$193	51
61 Wilmot St	0.38mi	4/2.0 (+1)	1,764 (-12%)	9mo	$380,000	$215	50
84 Wilmot St	0.42mi	4/3.0 (+1)	1,768 (-12%)	5mo	$375,000	$212	48
382 Main St	0.58mi	4/2.0 (+1)	2,076 (+4%)	19mo	$330,000	$159	46
246 Brightwood Ave	0.60mi	4/2.0 (+1)	1,872 (-6%)	18mo	$325,000	$174	40
112 Linden St	0.73mi	4/2.0 (+1)	2,251 (+12%)	1mo	$285,000	$127	40

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 · 5.89% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.91×
• Total profit: $-7,201
• Equity at exit: $44,716

10-year hold

• IRR: 10.5%
• Equity multiple: 1.92×
• Total profit: $77,648
• Equity at exit: $25,930

Cash invested: $83,972 (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 06790

• Rents YoY: 5.9%
• Active inventory: 189
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $3,312 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$370 /mo · $4,442/yr
• Insurance: −$125
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $493

Break-even live

Break-even rent $2,688

Max offer price $299,900

Occupancy floor 80%

Sensitivity live

Price	-10% $663	-5% $578	+0% $493	+5% $408	+10% $323
Rent	-10% $231	-5% $362	+0% $493	+5% $624	+10% $755
Rate	-1.0pp $644	-0.5pp $569	base $493	+0.5pp $415	+1.0pp $336

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,312
Total (2 units)			$3,312

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
85 Franklin St Torrington, CT	2.0	1.0	2774	$1,700	$0.61	45d	1	0.38mi
84 Wilmot St Torrington, CT	2.0	1.5	1768	$1,850	$1.05	25d	1	0.40mi
58 E Pearl St Torrington, CT	4.0	2.0	2588	$2,300	$0.89	45d	1	0.45mi
20 Taylor St Torrington, CT	3.0	1.0	2614	$1,700	$0.65	45d	1	0.66mi
18 Taylor St Torrington, CT	3.0	1.0	2614	$1,700	$0.65	45d	1	0.66mi
42 Pulver St Torrington, CT	3.0	1.0	1443	$1,800	$1.25	45d	1	0.84mi
14 Culvert St Unit 2 Torrington, CT	4.0	1.0	1638	$1,695	$1.03	45d	1	0.94mi
199 Migeon Ave Unit 2 Torrington, CT	3.0	1.0	1500	$2,350	$1.57	45d	1	0.94mi
163 Beechwood Ave Torrington, CT	4.0	2.0	1896	$2,800	$1.48	45d	1	1.08mi
21 Woodbine St Torrington, CT	2.0	1.0	1516	$1,850	$1.22	45d	1	1.16mi
17 Woodbine St Torrington, CT	3.0	1.5	1430	$2,200	$1.54	45d	1	1.16mi

Listing history 26 events

1. 2026-06-21
   days on market $299,900 Active 52 DOM
2. 2026-06-19
   days on market $299,900 Active 50 DOM
3. 2026-06-18
   days on market $299,900 Active 49 DOM
4. 2026-06-17
   days on market $299,900 Active 48 DOM
5. 2026-06-16
   days on market $299,900 Active 47 DOM
6. 2026-06-15
   days on market $299,900 Active 46 DOM
7. 2026-06-14
   days on market $299,900 Active 44 DOM
8. 2026-06-13
   days on market $299,900 Active 43 DOM
9. 2026-06-10
   days on market $299,900 Active 41 DOM
10. 2026-06-09
    days on market $299,900 Active 40 DOM
11. 2026-06-08
    days on market $299,900 Active 39 DOM
12. 2026-06-07
    days on market $299,900 Active 38 DOM
13. 2026-06-05
    days on market $299,900 Active 35 DOM
14. 2026-06-03
    remarks 611-char remark
15. 2026-06-03
    days on market $299,900 Active 34 DOM
16. 2026-06-02
    days on market $299,900 Active 33 DOM
17. 2026-06-01
    days on market $299,900 Active 32 DOM
18. 2026-05-31
    days on market $299,900 Active 31 DOM
19. 2026-05-30
    days on market $299,900 Active 30 DOM
20. 2026-05-13
    price $299,900 581-char remark
21. 2026-05-01
    listed $329,900 Active 581-char remark
22. 2026-04-28
    historical $329,900 581-char remark
23. 2024-11-07
    historical
24. 2024-10-22
    status Under Contract
25. 2024-10-16
    listed $260,000 Active
26. 2015-11-23
    soldstatus $55,000

ⓘ 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: $4,442 · $370/mo
• Projected year-2 tax: $5,430 · $452/mo
• Expected delta: +$988/yr (+$82/mo · 22.2%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,744
• − Mortgage interest: −$16,799
• − Property taxes: −$4,442
• − Insurance: −$2,166
• − Repairs & maintenance: −$3,180
• − Management: −$3,180
• − Depreciation: −$8,724
• Taxable income: $1,254
• Est. tax owed @ 24.0%: −$301
• After-tax cash flow: $5,616/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: Torrington School District
• NCES district ID: 0904590
• Math proficiency: 22% ▼ -8.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $53,647
• Composite: 26.9/100
• National rank: #7087
• State rank: #125 of 153 in CT

Livability — Torrington

• Score: 76/100
• State rank: #53
• US rank: #3449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Torrington, CT
• County: Litchfield County · 81,203 people
• City population: 35,566
• Metro: Torrington, CT
• Population (ZIP): 35,566
• Household income: $70,912
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1401.0

Population outlook (Northwest Hills County) Hauer SSP2

• By 2040: 118,998

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 14% Two or more races 8% Black 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 5% Dominican 2%
• Common ancestry: Romanian 8% Lithuanian 5% Slovak 2%
• Foreign-born: 12% · Canada, South Korea, Jamaica
• Languages at home: 86% English-only · Spanish 8% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Northwest Hills

• 2024 margin: Toss-up / Even · D 48.6% · R 49.9% · Other 1.6%
• All cycles: 2024: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.78%
• Current HPI: 208.4818
• Rent YoY: ▲ 5.89%
• Metro: Torrington, 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

+445.3% since first listed

7 events — show timeline

• 2026-05-13 Price Changed $299,900 Smart MLS
• 2026-05-01 Listed $329,900 Smart MLS
• 2026-04-28 Coming Soon $329,900 Smart MLS
• 2024-11-07 Listing Removed — Smart MLS
• 2024-10-22 Pending — Smart MLS
• 2024-10-16 Listed $260,000 Smart MLS
• 2015-11-23 Sold (Public Records) $55,000 Public Records

Property tax history

-0.9%/yr

Latest (2023): $4,442 · +12.0% YoY. Source: county tax records.