16 Essex St Unit 5D · Hartford, CT 06114

$94,999

1 bd · 1.0 ba · 681 sqft · Condo public records · 24 Days on market

Built 1910 $139/sqft · 27% below area Est $129k · 27% under $216/mo HOA · 13% of rent

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Charming Renovated Condo - Ideal Investment Opportunity Welcome to this beautifully renovated 1-bedroom, 1-bathroom condo offering comfort, style, and strong investment potential. The unit features a spacious bedroom with direct access to a private patio-perfect for relaxing mornings or unwinding in the evening. The inviting living room boasts a cozy fireplace, creating a warm and welcoming atmosphere. The updated interior showcases modern finishes throughout, making this home truly move-in ready. Currently tenant-occupied, this property presents a fantastic opportunity for investors seeking immediate rental income. The lease is in place through December; however, the tenant is open to vacating earlier, offering flexibility for both investors and owner-occupants. **The heating and cooling system was replaced on 11/23; New washer & dryer was installed on 10/23; and a New electric range was put in on 11/24. This condo also has a dedicated off-street parking space for one vehicle; and as well a Locked storage area in the basement.. Located minutes from downtown Hartford, Hartford Hospital, ball park, restaurants, and all major highways, this condo is a must see.

Key facts

• Renovated condo
• Private patio
• Locked storage area

Tags

• RENOVATED CONDO
• PRIVATE PATIO
• COZY FIREPLACE
• UPDATED INTERIOR
• DEDICATED OFF-STREET PARKING
• LOCKED STORAGE AREA

🏷️ Possibly a rental listed for sale. The $94,999 price doesn't fit this home's estimated sale value (~$129,294) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.

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: schools D-, 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.
• Market conditions: Rents rising (+1.5%/yr); 54 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• This rent runs 39% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($657 loan paydown + $10k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 1.5% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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 $80k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $93,574 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.78% ✓
• Cap rate: 11.98%
• Cash-on-cash: 20.31%
• DSCR: 1.90
• GRM: 4.7

CMA / ARV

• ARV (median comp): $129,294
• List price: $94,999
• Delta: -26.52%
• Verdict: UNDERPRICED
• Comps: 14 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: 38.5%
• Equity multiple: 3.93×
• Total profit: $78,011
• Equity at exit: $85,583

10-year hold

• IRR: 32.5%
• Equity multiple: 8.62×
• Total profit: $202,621
• Equity at exit: $184,562

Cash invested: $26,600 (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 06114

• Home prices YoY: 4.7%
• Rents YoY: 1.5%
• Active inventory: 54
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,694 high
• Mortgage (P&I): −$498
• Tax from tax record: −$134 /mo · $1,612/yr
• Insurance: −$40
• HOA: −$216
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $450

Break-even live

Break-even rent $1,124

Max offer price $94,999

Occupancy floor 68%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 Main St Hartford, CT	1.0–2.0	1.0–2.0	725	$1,800	$2.48	24d	4	0.51mi
100 Wells St Hartford, CT	2.0	1.0–1.5	950	$1,840	$1.94	24d	1	0.81mi
20 Front St Hartford, CT	1.0	1.0	663	$2,135	$3.22	3d	15	0.87mi
55 Trumbull St Hartford, CT	1.0–2.0	1.0–2.0	1015	$1,280	$1.26	10d	8	0.94mi
21 Temple St Hartford, CT	4.0	1.0–2.5	836	$1,189	$1.42	10d	8	1.12mi
1143 Main St Hartford, CT	3.0	1.0–2.0	962	$2,347	$2.44	3d	203	1.29mi
1212 Main St Hartford, CT	2.0	1.0–2.0	766	$2,396	$3.13	3d	18	1.31mi

HOA detail condo

• Monthly dues: $216 · $2,592/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $94,999 Active 24 DOM
2. 2026-06-17
   days on market $94,999 Active 23 DOM
3. 2026-06-16
   days on market $94,999 Active 22 DOM
4. 2026-06-15
   days on market $94,999 Active 21 DOM
5. 2026-06-13
   days on market $94,999 Active 19 DOM
6. 2026-06-13
   days on market $94,999 Active 18 DOM
7. 2026-06-10
   days on market $94,999 Active 16 DOM
8. 2026-06-09
   days on market $94,999 Active 15 DOM
9. 2026-06-08
   status $94,999 Active 14 DOM
10. 2026-05-05
    status Under Contract 1186-char remark

    Show marketing remark (1186 chars)

    Charming Renovated Condo - Ideal Investment Opportunity Welcome to this beautifully renovated 1-bedroom, 1-bathroom condo offering comfort, style, and strong investment potential. The unit features a spacious bedroom with direct access to a private patio-perfect for relaxing mornings or unwinding in the evening. The inviting living room boasts a cozy fireplace, creating a warm and welcoming atmosphere. The updated interior showcases modern finishes throughout, making this home truly move-in ready. Currently tenant-occupied, this property presents a fantastic opportunity for investors seeking immediate rental income. The lease is in place through December; however, the tenant is open to vacating earlier, offering flexibility for both investors and owner-occupants. **The heating and cooling system was replaced on 11/23; New washer & dryer was installed on 10/23; and a New electric range was put in on 11/24. This condo also has a dedicated off-street parking space for one vehicle; and as well a Locked storage area in the basement.. Located minutes from downtown Hartford, Hartford Hospital, ball park, restaurants, and all major highways, this condo is a must see.

11. 2026-05-02
    status Active 1186-char remark

    Show marketing remark (1186 chars)

    Charming Renovated Condo - Ideal Investment Opportunity Welcome to this beautifully renovated 1-bedroom, 1-bathroom condo offering comfort, style, and strong investment potential. The unit features a spacious bedroom with direct access to a private patio-perfect for relaxing mornings or unwinding in the evening. The inviting living room boasts a cozy fireplace, creating a warm and welcoming atmosphere. The updated interior showcases modern finishes throughout, making this home truly move-in ready. Currently tenant-occupied, this property presents a fantastic opportunity for investors seeking immediate rental income. The lease is in place through December; however, the tenant is open to vacating earlier, offering flexibility for both investors and owner-occupants. **The heating and cooling system was replaced on 11/23; New washer & dryer was installed on 10/23; and a New electric range was put in on 11/24. This condo also has a dedicated off-street parking space for one vehicle; and as well a Locked storage area in the basement.. Located minutes from downtown Hartford, Hartford Hospital, ball park, restaurants, and all major highways, this condo is a must see.

12. 2026-04-30
    historical 1186-char remark

    Show marketing remark (1186 chars)

    Charming Renovated Condo - Ideal Investment Opportunity Welcome to this beautifully renovated 1-bedroom, 1-bathroom condo offering comfort, style, and strong investment potential. The unit features a spacious bedroom with direct access to a private patio-perfect for relaxing mornings or unwinding in the evening. The inviting living room boasts a cozy fireplace, creating a warm and welcoming atmosphere. The updated interior showcases modern finishes throughout, making this home truly move-in ready. Currently tenant-occupied, this property presents a fantastic opportunity for investors seeking immediate rental income. The lease is in place through December; however, the tenant is open to vacating earlier, offering flexibility for both investors and owner-occupants. **The heating and cooling system was replaced on 11/23; New washer & dryer was installed on 10/23; and a New electric range was put in on 11/24. This condo also has a dedicated off-street parking space for one vehicle; and as well a Locked storage area in the basement.. Located minutes from downtown Hartford, Hartford Hospital, ball park, restaurants, and all major highways, this condo is a must see.

13. 2026-04-19
    listed $94,999 Active 1186-char remark

    Show marketing remark (1186 chars)

    Charming Renovated Condo - Ideal Investment Opportunity Welcome to this beautifully renovated 1-bedroom, 1-bathroom condo offering comfort, style, and strong investment potential. The unit features a spacious bedroom with direct access to a private patio-perfect for relaxing mornings or unwinding in the evening. The inviting living room boasts a cozy fireplace, creating a warm and welcoming atmosphere. The updated interior showcases modern finishes throughout, making this home truly move-in ready. Currently tenant-occupied, this property presents a fantastic opportunity for investors seeking immediate rental income. The lease is in place through December; however, the tenant is open to vacating earlier, offering flexibility for both investors and owner-occupants. **The heating and cooling system was replaced on 11/23; New washer & dryer was installed on 10/23; and a New electric range was put in on 11/24. This condo also has a dedicated off-street parking space for one vehicle; and as well a Locked storage area in the basement.. Located minutes from downtown Hartford, Hartford Hospital, ball park, restaurants, and all major highways, this condo is a must see.

14. 2025-10-31
    historical
15. 2025-10-24
    status Active
16. 2025-10-24
    price $99,000
17. 2025-09-30
    status Under Contract
18. 2025-09-17
    price $99,900
19. 2025-09-08
    price $104,999
20. 2025-08-27
    status Active
21. 2025-05-27
    status Under Contract
22. 2025-05-20
    listed $110,000 Active
23. 2023-08-16
    soldstatus $79,900
24. 2023-08-07
    soldstatus $79,900 Closed
25. 2023-07-17
    status Under Contract
26. 2023-07-08
    listed $79,900 Active
27. 2023-07-01
    historical $79,900
28. 2006-01-04
    soldstatus $70,000

ⓘ 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: $1,612 · $134/mo
• Projected year-2 tax: $1,822 · $152/mo
• Expected delta: +$210/yr (+$18/mo · 13.1%)

ⓘ 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 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: $20,328
• − Mortgage interest: −$5,321
• − Property taxes: −$1,612
• − Insurance: −$475
• − Repairs & maintenance: −$1,626
• − Management: −$1,626
• − HOA: −$2,592
• − Depreciation: −$2,764
• Taxable income: $4,312
• Est. tax owed @ 24.0%: −$1,035
• After-tax cash flow: $4,367/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: 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): 26,458
• Household income: $52,110
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 1897.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 60% White 19% Black 19% Two or more races 10% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 36% Dominican 6%
• Common ancestry: American 6% Romanian 1% Lithuanian 1%
• Foreign-born: 31% · Canada, Jamaica
• Languages at home: 36% English-only · Spanish 49% Russian/Polish/Slavic 8% Other Indo-European 4%

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: ▲ 16.02%
• Current HPI: 356.5892
• Rent YoY: ▲ 1.47%
• 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

+35.7% since first listed

19 events — show timeline

• 2026-05-05 Pending — Smart MLS
• 2026-05-02 Relisted — Smart MLS
• 2026-04-30 Listing Removed — Smart MLS
• 2026-04-19 Listed $94,999 Smart MLS
• 2025-10-31 Listing Removed — Smart MLS
• 2025-10-24 Relisted — Smart MLS
• 2025-10-24 Price Changed $99,000 Smart MLS
• 2025-09-30 Pending — Smart MLS
• 2025-09-17 Price Changed $99,900 Smart MLS
• 2025-09-08 Price Changed $104,999 Smart MLS
• 2025-08-27 Relisted — Smart MLS
• 2025-05-27 Pending — Smart MLS
• 2025-05-20 Listed $110,000 Smart MLS
• 2023-08-16 Sold (Public Records) $79,900 Public Records
• 2023-08-07 Sold (MLS) $79,900 Smart MLS
• 2023-07-17 Pending — Smart MLS
• 2023-07-08 Listed $79,900 Smart MLS
• 2023-07-01 Coming Soon $79,900 Smart MLS
• 2006-01-04 Sold (Public Records) $70,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $1,612 · +0.0% YoY. Source: county tax records.