58 Durant Ter · Middletown, CT 06457

$369,900

4 bd · 2.0 ba · 1,754 sqft · MultiFamily public records · 37 Days on market

Built 1889 6,534 sqft lot Est $298k · 24% over

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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 +20.6/30.0
• DSCR +6.5/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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 MLS

Well kept two family, with good income potential. Newer updates include new roof in 2003, attic insulation, newer windows and oil tank in basement and new refrigerator on the second floor. Large walk-up attic, Both floors have hardwood floors with linoleum in kitchen. First floor has wall to wall carpeting in 4 rooms and updated tile bathroom with over-sized shower (renovated in 2017). The front entry offers an enclosed wrap-around front porch, including storm windows and screens. The second floor has an enclosed back porch and a quiet, reliable tenant interested in staying. Each floor has its own furnace, hot water heater and washer/dryer hookups in the basement, 2nd floor has gas furnace and gas stove. Located in a quiet, friendly neighborhood on a one-way street across from the Middletown Senior Center, close to downtown for shopping and restaurants, Detached two car garage to be sold 'as is', good sized backyard, fenced in on 3 sides.

Key facts

• Off street parking
• Well maintained
• Updated kitchens

Tags

• WELL MAINTAINED
• QUIET NEIGHBORHOOD
• SEPARATE ENTRANCES
• UPDATED KITCHENS
• GENEROUS BACKYARD SPACE
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $370k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive. Per door: $246/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $370k).
• Recommended offer: $359k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.7% in Middletown — 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 81/100 on livability (#17 in CT, #1,390 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: commute F.
• Middletown School District (urban): math 24% / reading 44% proficiency, ranked #113 of 153 in CT (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 143 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).
• At $3,772/mo this rent would consume 57% of the median local household income ($79k/yr) (locally 2196% 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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($359k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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 $170k; list at $370k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1889 — 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 $358,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.02% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.70%
• DSCR: 1.25
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $298,180
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Goodyear Ave	0.59mi	4/2.0	1,876 (+7%)	15mo	$385,000	$205	49
74 Mill St	0.53mi	4/2.0	1,944 (+11%)	10mo	$330,000	$170	48
1 Dunham St	0.60mi	4/2.0	1,822 (+4%)	21mo	$110,000	$60	48
132 Front St	0.44mi	4/2.0	2,016 (+15%)	11mo	$310,000	$154	45
108 Main ST EXT	0.65mi	5/2.0 (+1)	1,780 (+2%)	22mo	$285,000	$160	44
102 Main St Ext	0.65mi	4/2.0	1,518 (-14%)	6mo	$405,000	$267	42

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 · 0.22% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.62×
• Total profit: $-38,842
• Equity at exit: $55,153

10-year hold

• IRR: -5.6%
• Equity multiple: 0.68×
• Total profit: $-33,242
• Equity at exit: $31,982

Cash invested: $103,572 (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 06457

• Rents YoY: 0.2%
• Active inventory: 143
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $3,772 high
• Mortgage (P&I): −$1,940
• Tax from tax record: −$394 /mo · $4,725/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$792
• Net cashflow: $492

Break-even live

Break-even rent $3,149

Max offer price $369,900

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,772
Total (2 units)			$3,772

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27 Woodside Cir Unit 37 Middletown, CT	3.0	2.0	1600	$2,300	$1.44	44d	1	0.24mi
177 Russell St Unit 2 Middletown, CT	3.0	3.0	2000	$2,200	$1.10	24d	1	0.31mi
32 Wall St Unit 2 Middletown, CT	3.0	1.0	2081	$2,400	$1.15	44d	1	0.69mi
73 Silver St Middletown, CT	4.0	2.0	1322	$2,500	$1.89	24d	1	1.06mi
505 Main St Middletown, CT	3.0	2.0	1263	$2,000	$1.58	2d	1	1.24mi
57 Ferry St Unit 1 Middletown, CT	3.0	1.5	1500	$2,000	$1.33	10d	1	1.30mi

Listing history 11 events

1. 2025-10-15
   status Under Contract
2. 2025-10-02
   price $369,900
3. 2025-09-06
   listed $379,000 Active
4. 2018-09-10
   soldstatus $170,000
5. 2018-09-07
   soldstatus $170,000 Closed 952-char remark

   Show marketing remark (952 chars)

   Well kept two family, with good income potential. Newer updates include new roof in 2003, attic insulation, newer windows and oil tank in basement and new refrigerator on the second floor. Large walk-up attic, Both floors have hardwood floors with linoleum in kitchen. First floor has wall to wall carpeting in 4 rooms and updated tile bathroom with over-sized shower (renovated in 2017). The front entry offers an enclosed wrap-around front porch, including storm windows and screens. The second floor has an enclosed back porch and a quiet, reliable tenant interested in staying. Each floor has its own furnace, hot water heater and washer/dryer hookups in the basement, 2nd floor has gas furnace and gas stove. Located in a quiet, friendly neighborhood on a one-way street across from the Middletown Senior Center, close to downtown for shopping and restaurants, Detached two car garage to be sold 'as is', good sized backyard, fenced in on 3 sides.

6. 2018-08-04
   historical 952-char remark

   Show marketing remark (952 chars)

   Well kept two family, with good income potential. Newer updates include new roof in 2003, attic insulation, newer windows and oil tank in basement and new refrigerator on the second floor. Large walk-up attic, Both floors have hardwood floors with linoleum in kitchen. First floor has wall to wall carpeting in 4 rooms and updated tile bathroom with over-sized shower (renovated in 2017). The front entry offers an enclosed wrap-around front porch, including storm windows and screens. The second floor has an enclosed back porch and a quiet, reliable tenant interested in staying. Each floor has its own furnace, hot water heater and washer/dryer hookups in the basement, 2nd floor has gas furnace and gas stove. Located in a quiet, friendly neighborhood on a one-way street across from the Middletown Senior Center, close to downtown for shopping and restaurants, Detached two car garage to be sold 'as is', good sized backyard, fenced in on 3 sides.

7. 2018-06-04
   historical Under Contract - Continue to Show 952-char remark

   Show marketing remark (952 chars)

   Well kept two family, with good income potential. Newer updates include new roof in 2003, attic insulation, newer windows and oil tank in basement and new refrigerator on the second floor. Large walk-up attic, Both floors have hardwood floors with linoleum in kitchen. First floor has wall to wall carpeting in 4 rooms and updated tile bathroom with over-sized shower (renovated in 2017). The front entry offers an enclosed wrap-around front porch, including storm windows and screens. The second floor has an enclosed back porch and a quiet, reliable tenant interested in staying. Each floor has its own furnace, hot water heater and washer/dryer hookups in the basement, 2nd floor has gas furnace and gas stove. Located in a quiet, friendly neighborhood on a one-way street across from the Middletown Senior Center, close to downtown for shopping and restaurants, Detached two car garage to be sold 'as is', good sized backyard, fenced in on 3 sides.

8. 2018-05-18
   listed $174,900 Active 952-char remark

   Show marketing remark (952 chars)

   Well kept two family, with good income potential. Newer updates include new roof in 2003, attic insulation, newer windows and oil tank in basement and new refrigerator on the second floor. Large walk-up attic, Both floors have hardwood floors with linoleum in kitchen. First floor has wall to wall carpeting in 4 rooms and updated tile bathroom with over-sized shower (renovated in 2017). The front entry offers an enclosed wrap-around front porch, including storm windows and screens. The second floor has an enclosed back porch and a quiet, reliable tenant interested in staying. Each floor has its own furnace, hot water heater and washer/dryer hookups in the basement, 2nd floor has gas furnace and gas stove. Located in a quiet, friendly neighborhood on a one-way street across from the Middletown Senior Center, close to downtown for shopping and restaurants, Detached two car garage to be sold 'as is', good sized backyard, fenced in on 3 sides.

9. 2003-09-26
   soldstatus $174,500 186-char remark

   Show marketing remark (186 chars)

   Very well kept, two family, with good income potential. Some hardwood floors andupdates throughout, newer winows, private backyard, two car garage with electricity, in good neighborhood.

10. 2003-09-26
    soldstatus $174,500

    Show marketing remark (186 chars)

    Very well kept, two family, with good income potential. Some hardwood floors andupdates throughout, newer winows, private backyard, two car garage with electricity, in good neighborhood.

11. 2003-06-21
    listed $179,900 186-char remark

    Show marketing remark (186 chars)

    Very well kept, two family, with good income potential. Some hardwood floors andupdates throughout, newer winows, private backyard, two car garage with electricity, in good neighborhood.

ⓘ 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: $4,725 · $394/mo
• Projected year-2 tax: $6,320 · $527/mo
• Expected delta: +$1,595/yr (+$133/mo · 33.8%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,264
• − Mortgage interest: −$20,720
• − Property taxes: −$4,725
• − Insurance: −$1,850
• − Repairs & maintenance: −$3,621
• − Management: −$3,621
• − Depreciation: −$10,761
• Taxable loss: −$34
• Est. tax savings @ 24.0%: +$8
• After-tax cash flow: $5,915/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: Middletown School District
• NCES district ID: 0902490
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $60,733
• Composite: 30.47/100
• National rank: #6224
• State rank: #113 of 153 in CT

Livability — Middletown

• Score: 81/100
• State rank: #17
• US rank: #1390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, CT
• County: Middlesex County · 63,941 people
• City population: 46,720
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 46,720
• Household income: $79,463
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 2196.0

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 13% Hispanic / Latino 12% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7%
• Common ancestry: Romanian 9% Lithuanian 5% Slovak 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -470.20%
• Current HPI: 255.1597
• Rent YoY: ▲ 0.22%
• 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

+105.6% since first listed

11 events — show timeline

• 2025-10-15 Pending — Smart MLS
• 2025-10-02 Price Changed $369,900 Smart MLS
• 2025-09-06 Listed $379,000 Smart MLS
• 2018-09-10 Sold (Public Records) $170,000 Public Records
• 2018-09-07 Sold (MLS) $170,000 Smart MLS
• 2018-08-04 Listing Removed — Smart MLS
• 2018-06-04 Contingent — Smart MLS
• 2018-05-18 Listed $174,900 Smart MLS
• 2003-09-26 Sold (Public Records) $174,500 Public Records
• 2003-09-26 Sold (MLS) $174,500 Smart MLS
• 2003-06-21 Listed $179,900 Smart MLS

Property tax history

+0.9%/yr

Latest (2022): $4,725 · +0.4% YoY. Source: county tax records.