32 Broad St · East Hartford, CT 06118

$399,900

3 bd · 2.0 ba · 2,843 sqft · MultiFamily public records · 3 Days on market

Built 1800 0.31 ac lot

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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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• 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

What a find! Victorian colonial in pristine condition. Magnificant woodwork inside and out. Exceptional kitchen,landscaping,porches galore updated throughout,kitchen,baths,tile countertops,built-ins and more!

Key facts

• Spacious layouts
• Ample parking
• Large lot

Tags

• ORIGINAL WOODWORK
• SPACIOUS LAYOUTS
• MULTIPLE PORCHES
• AMPLE PARKING
• WELL-MAINTAINED PROPERTY
• LARGE LOT

Property features AI

Finance

• Financial info: Assessed value listed

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family 2-unit property
• Construction: Asphalt shingle roof; Other construction; No foundation specified
• Exterior features: Level lot; Shingle and wood siding

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Steam heat; Natural gas hot water
• Interior features: 12 total rooms; Full basement with hatchway; Attic that is floored and walk-up

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive. Per door: $317/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Cap rate 8.2% vs local median 4.1% in East Hartford — 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 73/100 on livability (#76 in CT) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, commute A-; Watch: amenities F, health & safety F.
• East Hartford School District (urban): math 17% / reading 30% proficiency, ranked #140 of 153 in CT (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: East Hartford Middle School (math 12% / reading 26%, grade F, #163 of 175 statewide, top 94%, 890 students, 70% FRL); East Hartford High School (math 11% / reading 33%, grade F, #156 of 194 statewide, top 82%, 1,698 students, 63% FRL).
• Market conditions: 99 active listings in the ZIP; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $4,513/mo this rent would consume 68% of the median local household income ($80k/yr) (locally 820% 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 $12k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 25y 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 $167k; list at $400k implies a 139% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $399,900

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 1800 — 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 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. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.79%
• DSCR: 1.30
• GRM: 7.4

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: -5.8%
• Equity multiple: 0.78×
• Total profit: $-24,280
• Equity at exit: $59,626

10-year hold

• IRR: 3.9%
• Equity multiple: 1.28×
• Total profit: $31,510
• Equity at exit: $34,576

Cash invested: $111,972 (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 06118

• Home prices YoY: -33.7%
• Active inventory: 99
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $4,513 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$668 /mo · $8,016/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$948
• Net cashflow: $634

Break-even live

Break-even rent $3,711

Max offer price $399,900

Occupancy floor 81%

Sensitivity live

Price	-10% $860	-5% $747	+0% $634	+5% $520	+10% $407
Rent	-10% $277	-5% $455	+0% $634	+5% $812	+10% $990
Rate	-1.0pp $835	-0.5pp $735	base $634	+0.5pp $530	+1.0pp $424

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,512
Total (2 units)			$4,513

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-01
   days on market $399,900 Active 3 DOM
2. 2026-05-31
   days on market $399,900 Active 2 DOM

ⓘ 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: $8,016 · $668/mo
• Projected year-2 tax: $8,287 · $691/mo
• Expected delta: +$271/yr (+$23/mo · 3.4%)

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

Taxation est. · year 1

• Rental income: $54,156
• − Mortgage interest: −$22,401
• − Property taxes: −$8,016
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,332
• − Management: −$4,332
• − Depreciation: −$11,633
• Taxable income: $1,441
• Est. tax owed @ 24.0%: −$346
• After-tax cash flow: $7,256/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: East Hartford School District
• NCES district ID: 0901260
• Math proficiency: 17% ▼ -5.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $49,691
• Composite: 20.74/100
• National rank: #8519
• State rank: #140 of 153 in CT

Livability — East Hartford

• Score: 73/100
• State rank: #76
• US rank: #5527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Hartford, CT
• County: Hartford County · 754,208 people
• City population: 50,918
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 27,419
• Household income: $79,740
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 820.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 40% Hispanic / Latino 33% Black 20% Two or more races 14% Asian 4%
• Hispanic origin (detail): Puerto Rican 22% Dominican 3%
• Common ancestry: Romanian 4% Lithuanian 4% Scotch-Irish 2%
• Foreign-born: 17% · Canada, Vietnam, Jamaica
• Languages at home: 65% English-only · Spanish 23% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -127.16%
• Current HPI: 250.5647
• 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

+135.4% since first listed

6 events — show timeline

• 2026-05-29 Listed $399,900 Smart MLS
• 2001-12-17 Sold (Public Records) $167,000 Public Records
• 2001-12-14 Sold (MLS) $162,500 Smart MLS
• 2001-12-14 Sold (MLS) $162,500 Smart MLS
• 2001-09-14 Listed $169,900 Smart MLS
• 2001-09-13 Listed $169,900 Smart MLS

Property tax history

+2.9%/yr

Latest (2025): $8,016 · +4.3% YoY. Source: county tax records.