28 Short St · New Britain, CT 06051

$450,000

8 bd · 3.0 ba · 2,597 sqft · MultiFamily public records · 6 Days on market

Built 1910 0.26 ac lot Est $429k · 5% 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 +22.7/30.0
• Appreciation +10.0/10.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• ARV discount +5.2/15.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Attention Investors! Promising potential for great income or owner occupant. 3 Family home located in New Britain with low maintenance costs. Home is located off of Stanley St in quiet residential area near CCSU. First 2 floors offer 3 bed, 1 bath, living room and kitchen. Third floor has 2 bed, 1 bath, living room and kitchen. Detached garage could offer additional monthly income. Parking for 6 cars available in paved driveway. Shed located at rear of property, perfect for storing maintenance tools. Larger corner lot with open yard to enjoy out doors during warmer weather for anyone residing there. Newer roof, gas furnaces for heating and hot water heaters (less than 10 years old). 2nd floor has newer carpets. Basement has laundry hook ups for all 3 units available. Updated electrical panels and owners panel. Two long term tenants with open 2nd floor for possible owner occupied unit. Don't miss this opportunity to add this to your investment portfolio!

Key facts

• Oversized corner lot
• Updated finishes
• Prime location

Tags

• OVERSIZED CORNER LOT
• PRIME LOCATION
• NEW STAINLESS STEEL APPLIANCES
• UPDATED FINISHES
• PAVED OFF-STREET PARKING

Property features AI

Exterior

• Parking: Detached garage; Off-street parking; 6 total parking spaces; 1 garage
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property; 3-family building; White exterior color
• Construction: Frame construction; Asphalt shingle roof; Asbestos siding; Concrete and stone foundation
• Exterior features: Level lot

Interior

• Bedrooms: 8 total bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heat
• Interior features: Lock(s) home automation
• Laundry & utility: Shared laundry machines in the basement; Basement washer/dryer hook-ups; Common laundry area

What this means for you Summary

Snapshot

• This is a 2×3bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $778 ($9k/yr) — positive. Per door: $259/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Cap rate 8.4% vs local median 4.4% in New Britain — 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 74/100 on livability (#67 in CT, #4,936 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: crime D, employment D.
• New Britain School District (suburban): math 6% / reading 17% proficiency, ranked #153 of 153 in CT (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Smalley Elementary School (math 0% / reading 7%, grade F, #548 of 553 statewide, top 99%, 594 students, 88% FRL) — zoned schools average 88% FRL vs 71% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.6%/yr); 63 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $4,933/mo this rent would consume 116% of the median local household income ($51k/yr) (locally 2100% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $126k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 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 $250k; list at $450k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $450,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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 D 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: 1.10% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.41%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $428,505
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 Lawlor St	0.45mi	8/3.5	2,629 (+1%)	10mo	$520,000	$198	66
36 Connerton St	0.40mi	8/—	2,680 (+3%)	20mo	$420,000	$157	60
48 Woodland St	0.62mi	8/3.0	2,722 (+5%)	5mo	$450,000	$165	59
99 Abbe St	0.73mi	8/3.0	2,800 (+8%)	0mo	$475,000	$170	53
221 Fairview St	0.71mi	8/3.0	2,826 (+9%)	3mo	$360,000	$127	50
107 Dwight St	0.69mi	9/3.0 (+1)	2,725 (+5%)	11mo	$430,000	$158	45
31 Florence St	0.60mi	9/3.0 (+1)	2,901 (+12%)	5mo	$560,000	$193	43
16 Vincent Ave	0.55mi	7/3.0 (-1)	2,939 (+13%)	6mo	$535,000	$182	43
80 North St	0.60mi	7/2.0 (-1)	2,366 (-9%)	15mo	$330,000	$139	36
39 Dwight St	0.70mi	8/3.0	2,874 (+11%)	23mo	$262,000	$91	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 28.5%
• Equity multiple: 3.22×
• Total profit: $280,265
• Equity at exit: $405,396

10-year hold

• IRR: 23.9%
• Equity multiple: 7.04×
• Total profit: $760,635
• Equity at exit: $874,251

Cash invested: $126,000 (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 06051

• Home prices YoY: 9.0%
• Rents YoY: -0.6%
• Active inventory: 63
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $4,933 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$572 /mo · $6,859/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,036
• Net cashflow: $778

Break-even live

Break-even rent $3,948

Max offer price $450,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,374
1× unit	2	1	$1,559
Total (3 units)			$4,933

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-05-01
   status Under Contract
2. 2026-04-25
   listed $450,000 Active
3. 2025-06-07
   historical $1,800
4. 2025-03-05
   price $1,800
5. 2025-02-07
   listed $1,850
6. 2021-04-12
   soldstatus $250,000 Closed 967-char remark

   Show marketing remark (967 chars)

   Attention Investors! Promising potential for great income or owner occupant. 3 Family home located in New Britain with low maintenance costs. Home is located off of Stanley St in quiet residential area near CCSU. First 2 floors offer 3 bed, 1 bath, living room and kitchen. Third floor has 2 bed, 1 bath, living room and kitchen. Detached garage could offer additional monthly income. Parking for 6 cars available in paved driveway. Shed located at rear of property, perfect for storing maintenance tools. Larger corner lot with open yard to enjoy out doors during warmer weather for anyone residing there. Newer roof, gas furnaces for heating and hot water heaters (less than 10 years old). 2nd floor has newer carpets. Basement has laundry hook ups for all 3 units available. Updated electrical panels and owners panel. Two long term tenants with open 2nd floor for possible owner occupied unit. Don't miss this opportunity to add this to your investment portfolio!

7. 2021-03-06
   historical Under Contract - Continue to Show 967-char remark

   Show marketing remark (967 chars)

   Attention Investors! Promising potential for great income or owner occupant. 3 Family home located in New Britain with low maintenance costs. Home is located off of Stanley St in quiet residential area near CCSU. First 2 floors offer 3 bed, 1 bath, living room and kitchen. Third floor has 2 bed, 1 bath, living room and kitchen. Detached garage could offer additional monthly income. Parking for 6 cars available in paved driveway. Shed located at rear of property, perfect for storing maintenance tools. Larger corner lot with open yard to enjoy out doors during warmer weather for anyone residing there. Newer roof, gas furnaces for heating and hot water heaters (less than 10 years old). 2nd floor has newer carpets. Basement has laundry hook ups for all 3 units available. Updated electrical panels and owners panel. Two long term tenants with open 2nd floor for possible owner occupied unit. Don't miss this opportunity to add this to your investment portfolio!

8. 2021-02-08
   status Active 967-char remark

   Show marketing remark (967 chars)

   Attention Investors! Promising potential for great income or owner occupant. 3 Family home located in New Britain with low maintenance costs. Home is located off of Stanley St in quiet residential area near CCSU. First 2 floors offer 3 bed, 1 bath, living room and kitchen. Third floor has 2 bed, 1 bath, living room and kitchen. Detached garage could offer additional monthly income. Parking for 6 cars available in paved driveway. Shed located at rear of property, perfect for storing maintenance tools. Larger corner lot with open yard to enjoy out doors during warmer weather for anyone residing there. Newer roof, gas furnaces for heating and hot water heaters (less than 10 years old). 2nd floor has newer carpets. Basement has laundry hook ups for all 3 units available. Updated electrical panels and owners panel. Two long term tenants with open 2nd floor for possible owner occupied unit. Don't miss this opportunity to add this to your investment portfolio!

9. 2021-02-03
   historical Under Contract - Continue to Show 967-char remark

   Show marketing remark (967 chars)

   Attention Investors! Promising potential for great income or owner occupant. 3 Family home located in New Britain with low maintenance costs. Home is located off of Stanley St in quiet residential area near CCSU. First 2 floors offer 3 bed, 1 bath, living room and kitchen. Third floor has 2 bed, 1 bath, living room and kitchen. Detached garage could offer additional monthly income. Parking for 6 cars available in paved driveway. Shed located at rear of property, perfect for storing maintenance tools. Larger corner lot with open yard to enjoy out doors during warmer weather for anyone residing there. Newer roof, gas furnaces for heating and hot water heaters (less than 10 years old). 2nd floor has newer carpets. Basement has laundry hook ups for all 3 units available. Updated electrical panels and owners panel. Two long term tenants with open 2nd floor for possible owner occupied unit. Don't miss this opportunity to add this to your investment portfolio!

10. 2021-01-21
    price $260,000 967-char remark

    Show marketing remark (967 chars)

    Attention Investors! Promising potential for great income or owner occupant. 3 Family home located in New Britain with low maintenance costs. Home is located off of Stanley St in quiet residential area near CCSU. First 2 floors offer 3 bed, 1 bath, living room and kitchen. Third floor has 2 bed, 1 bath, living room and kitchen. Detached garage could offer additional monthly income. Parking for 6 cars available in paved driveway. Shed located at rear of property, perfect for storing maintenance tools. Larger corner lot with open yard to enjoy out doors during warmer weather for anyone residing there. Newer roof, gas furnaces for heating and hot water heaters (less than 10 years old). 2nd floor has newer carpets. Basement has laundry hook ups for all 3 units available. Updated electrical panels and owners panel. Two long term tenants with open 2nd floor for possible owner occupied unit. Don't miss this opportunity to add this to your investment portfolio!

11. 2020-12-16
    listed $270,000 Active 967-char remark

    Show marketing remark (967 chars)

    Attention Investors! Promising potential for great income or owner occupant. 3 Family home located in New Britain with low maintenance costs. Home is located off of Stanley St in quiet residential area near CCSU. First 2 floors offer 3 bed, 1 bath, living room and kitchen. Third floor has 2 bed, 1 bath, living room and kitchen. Detached garage could offer additional monthly income. Parking for 6 cars available in paved driveway. Shed located at rear of property, perfect for storing maintenance tools. Larger corner lot with open yard to enjoy out doors during warmer weather for anyone residing there. Newer roof, gas furnaces for heating and hot water heaters (less than 10 years old). 2nd floor has newer carpets. Basement has laundry hook ups for all 3 units available. Updated electrical panels and owners panel. Two long term tenants with open 2nd floor for possible owner occupied unit. Don't miss this opportunity to add this to your investment portfolio!

12. 2016-11-21
    soldstatus $155,000 416-char remark

    Show marketing remark (416 chars)

    Seller looking for offers on this solid income producing 3 unit w/great unit mix! Two 3BR and one 2BR. Separate utilities, brand new gas furnaces, brand new roof, lots of space in recently updated units. Quiet location with lots of yard space, private off street parking plus a garage that could be rented out for additional income. Washer/dryer hook ups in basement. Excellent for owner occupant buyer or investors!

13. 2016-08-20
    listed $169,900 416-char remark

    Show marketing remark (416 chars)

    Seller looking for offers on this solid income producing 3 unit w/great unit mix! Two 3BR and one 2BR. Separate utilities, brand new gas furnaces, brand new roof, lots of space in recently updated units. Quiet location with lots of yard space, private off street parking plus a garage that could be rented out for additional income. Washer/dryer hook ups in basement. Excellent for owner occupant buyer or investors!

14. 2016-08-04
    historical
15. 2016-05-04
    listed $169,900
16. 2015-12-19
    historical
17. 2015-08-20
    listed $155,000
18. 2012-05-31
    soldstatus $101,500
19. 2012-03-30
    listed $89,900
20. 2007-04-23
    soldstatus $227,820
21. 2007-04-18
    soldstatus $227,800
22. 2006-10-27
    listed $234,900
23. 2003-08-06
    soldstatus $92,000
24. 2003-05-13
    listed $89,900
25. 1998-12-04
    soldstatus $52,000

ⓘ 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: $6,859 · $572/mo
• Projected year-2 tax: $8,244 · $687/mo
• Expected delta: +$1,386/yr (+$115/mo · 20.2%)

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

Taxation est. · year 1

• Rental income: $59,196
• − Mortgage interest: −$25,207
• − Property taxes: −$6,859
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,736
• − Management: −$4,736
• − Depreciation: −$13,091
• Taxable income: $2,318
• Est. tax owed @ 24.0%: −$556
• After-tax cash flow: $8,781/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: New Britain School District
• NCES district ID: 0902670
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $40,827
• Composite: 9.95/100
• National rank: #9816
• State rank: #153 of 153 in CT

Livability — New Britain

• Score: 74/100
• State rank: #67
• US rank: #4936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Britain, CT
• County: Hartford County · 754,208 people
• City population: 66,322
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 29,548
• Household income: $51,022
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 2100.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 30% Two or more races 17% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 40% Dominican 4%
• Common ancestry: Romanian 7% Lithuanian 6% Slovak 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 39% Russian/Polish/Slavic 6% Arabic 3%

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: ▲ 31.52%
• Current HPI: 382.7816
• Rent YoY: ▼ -0.58%
• 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

+765.4% since first listed

25 events — show timeline

• 2026-05-01 Pending — Smart MLS
• 2026-04-25 Listed $450,000 Smart MLS
• 2025-06-07 Rental Removed $1,800 SMARTMLS
• 2025-03-05 Price Changed $1,800 SMARTMLS
• 2025-02-07 Listed for Rent $1,850 SMARTMLS
• 2021-04-12 Sold (MLS) $250,000 Smart MLS
• 2021-03-06 Contingent — Smart MLS
• 2021-02-08 Relisted — Smart MLS
• 2021-02-03 Contingent — Smart MLS
• 2021-01-21 Price Changed $260,000 Smart MLS
• 2020-12-16 Listed $270,000 Smart MLS
• 2016-11-21 Sold (MLS) $155,000 Smart MLS
• 2016-08-20 Listed $169,900 Smart MLS
• 2016-08-04 Listing Removed — Smart MLS
• 2016-05-04 Listed $169,900 Smart MLS
• 2015-12-19 Listing Removed — Smart MLS
• 2015-08-20 Listed $155,000 Smart MLS
• 2012-05-31 Sold (MLS) $101,500 Smart MLS
• 2012-03-30 Listed $89,900 Smart MLS
• 2007-04-23 Sold (Public Records) $227,820 Public Records
• 2007-04-18 Sold (MLS) $227,800 Smart MLS
• 2006-10-27 Listed $234,900 Smart MLS
• 2003-08-06 Sold (MLS) $92,000 Smart MLS
• 2003-05-13 Listed $89,900 Smart MLS
• 1998-12-04 Sold (Public Records) $52,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $6,859 · +2.3% YoY. Source: county tax records.