840 Worthington Rdg · Berlin, CT 06037

$549,500

4 bd · 2.5 ba · 3,468 sqft · MultiFamily public records · 25 Days on market

Built 1830 0.55 ac lot

---

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 +15.3/30.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• DSCR +4.7/10.0
• 1% rule +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

The Worthington Ridge Historic District.Nestled in this special neighborhood is The Dr. Elishama Brandegee House, Circa 1835, this exceptional residence is one of Berlin's finest examples of the Greek Revival style.The exterior boasts 4 fluted Ionic pilasters, adding an air of sophistication to the façade. Step through the front entry, adorned with a glazed transom & sidelights with Ionic columns and the original front door, embellished with intricate egg and dart molding, is a testament to the craftsmanship of a bygone era.This historic treasure has been lovingly preserved in a historically appropriate manner. The home includes a home office complete with a half bath. Designed with entertaining in mind,the floor plan effortlessly flows creating a seamless environment for hosting gatherings. From intimate dinners to large-scale celebrations,this home is the ideal backdrop for any occasion.The kitchen provides a functional &stylish space to prepare culinary delights for your guests.The upper level sleeping quarters includes a possible 3-room accessory apt. Whether you envision a guest suite or inlaw setup,this flexible space can be tailored to meet your needs. For those who appreciate the outdoors, Relax on the lovely side porch, savoring breathtaking sunset views. Explore the lush grounds, adorned w/gardens and a historic barn. With its impeccable preservation, versatile living spaces,& captivating grounds, this home offers a unique opportunity to become a steward of history.

Key facts

• 0.55 acre lot
• 4 parking spots
• Built 1830

Property features AI

Exterior

• Parking: Driveway; 4 parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas hot water (domestic); Storm windows
• Home design: Single-family home; Paved driveway
• Construction: Frame construction; Brick and stone foundation; Asphalt shingle roof; White exterior color
• Exterior features: Clapboard siding; Porch; Patio; Sidewalk; Barn; Sloping lot; Located in a historic district (regulated)

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Steam heat (natural gas); Window air conditioning units
• Interior features: Cable available; In-law apartment with access from the second floor; Three fireplaces; Has attic (walk-up); Foyer
• Laundry & utility: Washer and dryer included; Main-level laundry (1st floor, off the kitchen)

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $203 ($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 $513k (6.7% below list).
• Recommended offer: $513k (6.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Berlin School District (suburban): math 47% / reading 58% proficiency, ranked #69 of 153 in CT (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Emma Hart Willard School (math 47% / reading 57%, grade C-, #213 of 553 statewide, top 41%, 437 students, 32% FRL); Catherine M. Mcgee Middle School (math 44% / reading 53%, grade C-, #84 of 175 statewide, top 49%, 582 students, 22% FRL); Berlin High School (math 38% / reading 69%, grade C-, #78 of 194 statewide, top 40%, 858 students, 18% FRL).
• Market conditions: 62 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $5,127/mo this rent would consume 53% of the median local household income ($116k/yr) (locally 294% 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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($541k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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 1830 — 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 $512,700 (6.7% below list)

Questions for the listing agent

1. Built in 1830 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 6.74%
• Cash-on-cash: 1.59%
• DSCR: 1.07
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.8%
• Equity multiple: 0.51×
• Total profit: $-75,980
• Equity at exit: $81,932

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-49,043
• Equity at exit: $47,511

Cash invested: $153,860 (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 06037

• Home prices YoY: -32.9%
• Active inventory: 62
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $5,127 medium
• Mortgage (P&I): −$2,882
• Tax from tax record: −$736 /mo · $8,836/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,077
• Net cashflow: $203

Break-even live

Break-even rent $4,870

Max offer price $549,500

Occupancy floor 91%

Sensitivity live

Price	-10% $514	-5% $359	+0% $203	+5% $48	+10% $-108
Rent	-10% $-202	-5% $1	+0% $203	+5% $406	+10% $608
Rate	-1.0pp $480	-0.5pp $343	base $203	+0.5pp $61	+1.0pp $-84

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$5,128
Total (2 units)			$5,127

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: $137,375
• Closing costs: $16,485
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
61 Bluebird Ln Berlin, CT	3.0	2.5	2756	$3,000	$1.09	3d	1	0.93mi

Listing history 13 events

1. 2026-05-09
   status Under Contract
2. 2026-05-08
   status Active
3. 2026-04-23
   historical Under Contract - Continue to Show
4. 2026-04-15
   listed $549,500 Active
5. 2026-04-01
   historical $549,500
6. 2023-09-14
   soldstatus $512,800
7. 2023-09-12
   soldstatus $512,800 Closed 1519-char remark

   Show marketing remark (1519 chars)

   The Worthington Ridge Historic District.Nestled in this special neighborhood is The Dr. Elishama Brandegee House, Circa 1835, this exceptional residence is one of Berlin's finest examples of the Greek Revival style.The exterior boasts 4 fluted Ionic pilasters, adding an air of sophistication to the façade. Step through the front entry, adorned with a glazed transom & sidelights with Ionic columns and the original front door, embellished with intricate egg and dart molding, is a testament to the craftsmanship of a bygone era.This historic treasure has been lovingly preserved in a historically appropriate manner. The home includes a home office complete with a half bath. Designed with entertaining in mind,the floor plan effortlessly flows creating a seamless environment for hosting gatherings. From intimate dinners to large-scale celebrations,this home is the ideal backdrop for any occasion.The kitchen provides a functional &stylish space to prepare culinary delights for your guests.The upper level sleeping quarters includes a possible 3-room accessory apt. Whether you envision a guest suite or inlaw setup,this flexible space can be tailored to meet your needs. For those who appreciate the outdoors, Relax on the lovely side porch, savoring breathtaking sunset views. Explore the lush grounds, adorned w/gardens and a historic barn. With its impeccable preservation, versatile living spaces,& captivating grounds, this home offers a unique opportunity to become a steward of history.

8. 2023-07-20
   status Under Contract 1519-char remark

   Show marketing remark (1519 chars)

   The Worthington Ridge Historic District.Nestled in this special neighborhood is The Dr. Elishama Brandegee House, Circa 1835, this exceptional residence is one of Berlin's finest examples of the Greek Revival style.The exterior boasts 4 fluted Ionic pilasters, adding an air of sophistication to the façade. Step through the front entry, adorned with a glazed transom & sidelights with Ionic columns and the original front door, embellished with intricate egg and dart molding, is a testament to the craftsmanship of a bygone era.This historic treasure has been lovingly preserved in a historically appropriate manner. The home includes a home office complete with a half bath. Designed with entertaining in mind,the floor plan effortlessly flows creating a seamless environment for hosting gatherings. From intimate dinners to large-scale celebrations,this home is the ideal backdrop for any occasion.The kitchen provides a functional &stylish space to prepare culinary delights for your guests.The upper level sleeping quarters includes a possible 3-room accessory apt. Whether you envision a guest suite or inlaw setup,this flexible space can be tailored to meet your needs. For those who appreciate the outdoors, Relax on the lovely side porch, savoring breathtaking sunset views. Explore the lush grounds, adorned w/gardens and a historic barn. With its impeccable preservation, versatile living spaces,& captivating grounds, this home offers a unique opportunity to become a steward of history.

9. 2023-06-26
   historical Under Contract - Continue to Show 1519-char remark

   Show marketing remark (1519 chars)

   The Worthington Ridge Historic District.Nestled in this special neighborhood is The Dr. Elishama Brandegee House, Circa 1835, this exceptional residence is one of Berlin's finest examples of the Greek Revival style.The exterior boasts 4 fluted Ionic pilasters, adding an air of sophistication to the façade. Step through the front entry, adorned with a glazed transom & sidelights with Ionic columns and the original front door, embellished with intricate egg and dart molding, is a testament to the craftsmanship of a bygone era.This historic treasure has been lovingly preserved in a historically appropriate manner. The home includes a home office complete with a half bath. Designed with entertaining in mind,the floor plan effortlessly flows creating a seamless environment for hosting gatherings. From intimate dinners to large-scale celebrations,this home is the ideal backdrop for any occasion.The kitchen provides a functional &stylish space to prepare culinary delights for your guests.The upper level sleeping quarters includes a possible 3-room accessory apt. Whether you envision a guest suite or inlaw setup,this flexible space can be tailored to meet your needs. For those who appreciate the outdoors, Relax on the lovely side porch, savoring breathtaking sunset views. Explore the lush grounds, adorned w/gardens and a historic barn. With its impeccable preservation, versatile living spaces,& captivating grounds, this home offers a unique opportunity to become a steward of history.

10. 2023-06-15
    listed $495,000 Active 1519-char remark

    Show marketing remark (1519 chars)

    The Worthington Ridge Historic District.Nestled in this special neighborhood is The Dr. Elishama Brandegee House, Circa 1835, this exceptional residence is one of Berlin's finest examples of the Greek Revival style.The exterior boasts 4 fluted Ionic pilasters, adding an air of sophistication to the façade. Step through the front entry, adorned with a glazed transom & sidelights with Ionic columns and the original front door, embellished with intricate egg and dart molding, is a testament to the craftsmanship of a bygone era.This historic treasure has been lovingly preserved in a historically appropriate manner. The home includes a home office complete with a half bath. Designed with entertaining in mind,the floor plan effortlessly flows creating a seamless environment for hosting gatherings. From intimate dinners to large-scale celebrations,this home is the ideal backdrop for any occasion.The kitchen provides a functional &stylish space to prepare culinary delights for your guests.The upper level sleeping quarters includes a possible 3-room accessory apt. Whether you envision a guest suite or inlaw setup,this flexible space can be tailored to meet your needs. For those who appreciate the outdoors, Relax on the lovely side porch, savoring breathtaking sunset views. Explore the lush grounds, adorned w/gardens and a historic barn. With its impeccable preservation, versatile living spaces,& captivating grounds, this home offers a unique opportunity to become a steward of history.

11. 2005-06-30
    soldstatus $400,000 223-char remark

    Show marketing remark (223 chars)

    The brandegee home, gorgeous, well preserved greek revival, circa 1830, built byships carpenters, high ceilings, extensive mouldings, 3 fp's, in-law apt w/fullkitchen & bath in rear, barn w/ 2-car stalls,pretty grounds.

12. 2005-06-30
    soldstatus $400,000

    Show marketing remark (223 chars)

    The brandegee home, gorgeous, well preserved greek revival, circa 1830, built byships carpenters, high ceilings, extensive mouldings, 3 fp's, in-law apt w/fullkitchen & bath in rear, barn w/ 2-car stalls,pretty grounds.

13. 2005-04-06
    listed $429,900 223-char remark

    Show marketing remark (223 chars)

    The brandegee home, gorgeous, well preserved greek revival, circa 1830, built byships carpenters, high ceilings, extensive mouldings, 3 fp's, in-law apt w/fullkitchen & bath in rear, barn w/ 2-car stalls,pretty grounds.

ⓘ 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: $8,836 · $736/mo
• Projected year-2 tax: $10,298 · $858/mo
• Expected delta: +$1,462/yr (+$122/mo · 16.5%)

ⓘ 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 ≥98°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: $61,524
• − Mortgage interest: −$30,781
• − Property taxes: −$8,836
• − Insurance: −$2,748
• − Repairs & maintenance: −$4,922
• − Management: −$4,922
• − Depreciation: −$15,985
• Taxable loss: −$6,669
• Est. tax savings @ 24.0%: +$1,601
• After-tax cash flow: $4,041/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: Berlin School District
• NCES district ID: 0900210
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 58% ▼ -8.00%
• Median HH income: $87,497
• Composite: 48.4/100
• National rank: #2136
• State rank: #69 of 153 in CT

Livability — Berlin

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Kensington, CT
• County: Hartford County · 754,208 people
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 19,173
• Household income: $116,042
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 294.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Asian 5%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 23% Lithuanian 8% Danish 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 85% English-only · Russian/Polish/Slavic 6% Spanish 3% Other Indo-European 2%

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: ▼ -145.47%
• Current HPI: 296.2808
• Rent YoY: —
• 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

+27.8% since first listed

13 events — show timeline

• 2026-05-09 Pending — Smart MLS
• 2026-05-08 Relisted — Smart MLS
• 2026-04-23 Contingent — Smart MLS
• 2026-04-15 Listed $549,500 Smart MLS
• 2026-04-01 Coming Soon $549,500 Smart MLS
• 2023-09-14 Sold (Public Records) $512,800 Public Records
• 2023-09-12 Sold (MLS) $512,800 Smart MLS
• 2023-07-20 Pending — Smart MLS
• 2023-06-26 Contingent — Smart MLS
• 2023-06-15 Listed $495,000 Smart MLS
• 2005-06-30 Sold (Public Records) $400,000 Public Records
• 2005-06-30 Sold (MLS) $400,000 Smart MLS
• 2005-04-06 Listed $429,900 Smart MLS

Property tax history

+1.4%/yr

Latest (2025): $8,836 · +1.4% YoY. Source: county tax records.