243 N Elm St · Torrington, CT 06790

$975,000

15 bd · 5.0 ba · 5,755 sqft · MultiFamily public records · 101 Days on market

Built 1900 7,405 sqft lot $169/sqft · 96% above area

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Why this score? — see what drove the D+ 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 +18.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +4.3/10.0
• 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 (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

ATTENTION INVESTORS! Turnkey 5-unit income-producing property in the desirable north end of town with a 7.25% cap rate! This fully occupied AND FULLY UPDATED multi-family includes one spacious 2-bedroom unit, three well-designed 3-bedroom units, and one 4 bedroom unit all with functional layouts. Recent upgrades include a new heating system and water heaters (2021), a newer roof, updated heating systems, and many replaced windows, ensuring minimal maintenance. The basement features newly added laundry and storage areas for tenant convenience. Additionally, the property comes with a SEPERATLY DEEDED LOT, currently serving as a large parking area, offering extra value and future potential. Don't miss this opportunity! All utilities are separate!

Key facts

• Replaced windows
• Newer roof
• Newly added laundry

Tags

• FULLY UPDATED MULTI FAMILY
• NEW HEATING SYSTEM
• NEW WATER HEATERS
• NEWER ROOF
• REPLACED WINDOWS
• NEWLY ADDED LAUNDRY

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 3×3bd/1ba + 1×4bd/1ba units multifamily listed at $975k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $201/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $903k (7.4% below list).
• Recommended offer: $887k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.9% 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: schools D, 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.
• Market conditions: Rents rising fast (+5.9%/yr); 188 active listings in the ZIP; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• At $9,031/mo this rent would consume 153% 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 $7k of loan paydown is wiped out by about $29k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($887k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y 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 $550k; list at $975k implies a 77% 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: moderate wind risk, 26% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $887,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.93% ✗
• Cap rate: 7.53%
• Cash-on-cash: 4.42%
• DSCR: 1.20
• GRM: 9.0

CMA / ARV

• ARV (median comp): $497,312
• List price: $975,000
• Delta: 96.05%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.75×
• Total profit: $-67,124
• Equity at exit: $145,376

10-year hold

• IRR: 6.2%
• Equity multiple: 1.52×
• Total profit: $140,756
• Equity at exit: $84,300

Cash invested: $273,000 (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: 188
• Price-to-rent: 47.9×

Monthly cashflow live

• Estimated rent: $9,031 high
• Mortgage (P&I): −$5,113
• Tax from tax record: −$609 /mo · $7,308/yr
• Insurance: −$406
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,897
• Net cashflow: $1,006

Break-even live

Break-even rent $7,757

Max offer price $975,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,696
▸ 3× units	3	1	$5,373
1× unit	4	1	$1,962
Total (5 units)			$9,031

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: $243,750
• Closing costs: $29,250
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-19
   days on market $975,000 Active 101 DOM
2. 2026-06-18
   days on market $975,000 Active 100 DOM
3. 2026-06-17
   days on market $975,000 Active 99 DOM
4. 2026-06-16
   days on market $975,000 Active 98 DOM
5. 2026-06-15
   days on market $975,000 Active 97 DOM
6. 2026-06-14
   days on market $975,000 Active 95 DOM
7. 2026-06-13
   days on market $975,000 Active 94 DOM
8. 2026-06-10
   days on market $975,000 Active 92 DOM
9. 2026-06-09
   days on market $975,000 Active 91 DOM
10. 2026-06-08
    days on market $975,000 Active 90 DOM
11. 2026-06-07
    days on market $975,000 Active 89 DOM
12. 2026-06-05
    days on market $975,000 Active 86 DOM
13. 2026-06-03
    days on market $975,000 Active 85 DOM
14. 2026-06-02
    days on market $975,000 Active 84 DOM
15. 2026-06-01
    days on market $975,000 Active 83 DOM
16. 2026-05-31
    days on market $975,000 Active 82 DOM
17. 2026-05-30
    days on market $975,000 Active 81 DOM
18. 2026-04-07
    price $975,000 753-char remark

    Show marketing remark (753 chars)

    ATTENTION INVESTORS! Turnkey 5-unit income-producing property in the desirable north end of town with a 7.25% cap rate! This fully occupied AND FULLY UPDATED multi-family includes one spacious 2-bedroom unit, three well-designed 3-bedroom units, and one 4 bedroom unit all with functional layouts. Recent upgrades include a new heating system and water heaters (2021), a newer roof, updated heating systems, and many replaced windows, ensuring minimal maintenance. The basement features newly added laundry and storage areas for tenant convenience. Additionally, the property comes with a SEPERATLY DEEDED LOT, currently serving as a large parking area, offering extra value and future potential. Don't miss this opportunity! All utilities are separate!

19. 2026-03-10
    listed $995,000 Active 753-char remark

    Show marketing remark (753 chars)

    ATTENTION INVESTORS! Turnkey 5-unit income-producing property in the desirable north end of town with a 7.25% cap rate! This fully occupied AND FULLY UPDATED multi-family includes one spacious 2-bedroom unit, three well-designed 3-bedroom units, and one 4 bedroom unit all with functional layouts. Recent upgrades include a new heating system and water heaters (2021), a newer roof, updated heating systems, and many replaced windows, ensuring minimal maintenance. The basement features newly added laundry and storage areas for tenant convenience. Additionally, the property comes with a SEPERATLY DEEDED LOT, currently serving as a large parking area, offering extra value and future potential. Don't miss this opportunity! All utilities are separate!

20. 2025-10-17
    historical
21. 2025-04-16
    listed $1,150,000 Active
22. 2024-05-28
    soldstatus $550,000 Closed
23. 2024-04-02
    status Under Contract
24. 2024-03-28
    status Active
25. 2024-02-04
    status Under Contract
26. 2024-01-20
    listed $550,000 Active
27. 2017-05-15
    soldstatus $266,000
28. 2017-05-11
    soldstatus $266,000
29. 2016-11-14
    listed $295,000
30. 2012-12-31
    historical
31. 2012-02-17
    listed $329,900
32. 2011-08-01
    historical
33. 2010-11-12
    listed $350,000
34. 2007-07-16
    soldstatus $205,000
35. 2007-07-12
    soldstatus $95,000
36. 2007-04-10
    listed $99,900
37. 1990-07-31
    soldstatus $243,000
38. 1988-09-16
    soldstatus $132,000

ⓘ 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: $7,308 · $609/mo
• Projected year-2 tax: $14,086 · $1,174/mo
• Expected delta: +$6,778/yr (+$565/mo · 92.8%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥93°F today · 18 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: $108,372
• − Mortgage interest: −$54,615
• − Property taxes: −$7,308
• − Insurance: −$4,875
• − Repairs & maintenance: −$8,670
• − Management: −$8,670
• − Depreciation: −$28,364
• Taxable loss: −$4,129
• Est. tax savings @ 24.0%: +$991
• After-tax cash flow: $13,066/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

+638.6% since first listed

21 events — show timeline

• 2026-04-07 Price Changed $975,000 Smart MLS
• 2026-03-10 Listed $995,000 Smart MLS
• 2025-10-17 Listing Removed — Smart MLS
• 2025-04-16 Listed $1,150,000 Smart MLS
• 2024-05-28 Sold (MLS) $550,000 Smart MLS
• 2024-04-02 Pending — Smart MLS
• 2024-03-28 Relisted — Smart MLS
• 2024-02-04 Pending — Smart MLS
• 2024-01-20 Listed $550,000 Smart MLS
• 2017-05-15 Sold (Public Records) $266,000 Public Records
• 2017-05-11 Sold (MLS) $266,000 Smart MLS
• 2016-11-14 Listed $295,000 Smart MLS
• 2012-12-31 Listing Removed — Smart MLS
• 2012-02-17 Listed $329,900 Smart MLS
• 2011-08-01 Listing Removed — Smart MLS
• 2010-11-12 Listed $350,000 Smart MLS
• 2007-07-16 Sold (Public Records) $205,000 Public Records
• 2007-07-12 Sold (MLS) $95,000 Smart MLS
• 2007-04-10 Listed $99,900 Smart MLS
• 1990-07-31 Sold (Public Records) $243,000 Public Records
• 1988-09-16 Sold (Public Records) $132,000 Public Records

Property tax history

+1.5%/yr

Latest (2023): $7,308 · +1.7% YoY. Source: county tax records.