62 Winter St · New Britain, CT 06051

$950,000

18 bd · 6.0 ba · 7,776 sqft · MultiFamily public records · 16 Days on market

Built 1900 7,840 sqft lot Est $778k · 22% 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 +22.4/30.0
• Appreciation +10.0/10.0
• DSCR +7.2/10.0
• 1% rule +6.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Fantastic Investment Opportunity! Rarely available, fully occupied 6-unit brick building-each unit offering 3 bedrooms and 1 bathroom. This well-maintained property features numerous updates, including renovated kitchens and bathrooms, updated flooring, fresh paint, and modern fixtures throughout. Major capital improvements have already been completed, with all furnaces and water heaters replaced within the past 8 years. The roof and thermopane windows are approximately 12 years old. The property offers a private driveway with ample off-street parking for up to 9 vehicles and is fully fenced for added privacy. Each unit has separate utilities, with tenants responsible for, helping to minimi

Key facts

• Separate utilities
• Renovated kitchens
• Fully fenced

Tags

• RENOVATED KITCHENS
• UPDATED FLOORING
• PRIVATE DRIVEWAY
• AMPLE OFF-STREET PARKING
• FULLY FENCED
• SEPARATE UTILITIES

What this means for you Summary

Snapshot

• This is a 6 × 3-bed/1.0-bath units multifamily listed at $950k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $264/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $950k).
• Recommended offer: $936k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: New Britain High School (math 10% / reading 31%, grade F, #162 of 194 statewide, top 83%, 2,331 students, 71% FRL) — zoned schools at 71% FRL track the district average.
• 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 $10,442/mo this rent would consume 246% 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 $102k of equity ($7k loan paydown + $95k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $266k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$163k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($936k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $173k; list at $950k implies a 449% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $935,750 (1.5% below list)

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 1900 — 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: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $777,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Dwight St	0.47mi	18/6.0	7,476 (-4%)	21mo	$750,000	$100	54

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: 28.3%
• Equity multiple: 3.21×
• Total profit: $587,743
• Equity at exit: $855,835

10-year hold

• IRR: 23.8%
• Equity multiple: 7.00×
• Total profit: $1,597,238
• Equity at exit: $1,845,641

Cash invested: $266,000 (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: 45.5×

Monthly cashflow live

• Estimated rent: $10,442 high
• Mortgage (P&I): −$4,982
• Tax from tax record: −$1,290 /mo · $15,479/yr
• Insurance: −$396
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,193
• Net cashflow: $1,582

Break-even live

Break-even rent $8,440

Max offer price $950,000

Occupancy floor 80%

Sensitivity live

Price	-10% $2,119	-5% $1,850	+0% $1,582	+5% $1,313	+10% $1,044
Rent	-10% $757	-5% $1,169	+0% $1,582	+5% $1,994	+10% $2,406
Rate	-1.0pp $2,060	-0.5pp $1,823	base $1,582	+0.5pp $1,335	+1.0pp $1,085

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

Units	Beds	Baths	Est. rent
▸ 6× units	3	1	$10,440
Total (6 units)			$10,442

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: $237,500
• Closing costs: $28,500
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-03
   status Under Contract
2. 2026-03-18
   listed $950,000 Active
3. 2024-04-20
   historical
4. 2024-03-16
   status Active
5. 2024-03-13
   status Under Contract
6. 2024-02-14
   historical Under Contract - Continue to Show
7. 2024-01-24
   listed $899,900 Active
8. 2004-03-11
   soldstatus $173,000

ⓘ 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: $15,479 · $1,290/mo
• Projected year-2 tax: $17,904 · $1,492/mo
• Expected delta: +$2,426/yr (+$202/mo · 15.7%)

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

Taxation est. · year 1

• Rental income: $125,304
• − Mortgage interest: −$53,215
• − Property taxes: −$15,479
• − Insurance: −$4,750
• − Repairs & maintenance: −$10,024
• − Management: −$10,024
• − Depreciation: −$27,636
• Taxable income: $4,175
• Est. tax owed @ 24.0%: −$1,002
• After-tax cash flow: $17,976/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

+449.1% since first listed

8 events — show timeline

• 2026-04-03 Pending — Smart MLS
• 2026-03-18 Listed $950,000 Smart MLS
• 2024-04-20 Listing Removed — Smart MLS
• 2024-03-16 Relisted — Smart MLS
• 2024-03-13 Pending — Smart MLS
• 2024-02-14 Contingent — Smart MLS
• 2024-01-24 Listed $899,900 Smart MLS
• 2004-03-11 Sold (Public Records) $173,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $15,479 · +2.3% YoY. Source: county tax records.