12 Oak St · New Britain, CT 06051

$265,000

4 bd · 2.0 ba · 1,572 sqft · MultiFamily public records · 14 Days on market

Built 1897 5,662 sqft lot Est $250k · 6% 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 +25.0/30.0
• Appreciation +10.0/10.0
• DSCR +8.2/10.0
• 1% rule +6.8/10.0
• ARV discount +4.8/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This is not a short sale. Great investment property. Great deal at this price.

Key facts

• 5,662 sq ft lot
• 4 parking spots
• Built 1897

Property features AI

Finance

• Other: Property listed as multi-family for sale; Three total dwelling units

Exterior

• Parking: Four parking spaces; Paved parking and driveway
• Utilities: Public water connected; Public sewer connected; Gas on gas heating
• Home design: Multi-family property (2-family); Two-story configuration implied by multiple units
• Construction: Frame construction; Vinyl siding; Asphalt shingle roof; Concrete and stone foundation; Built as multi-family
• Exterior features: Private paved driveway; Nearby amenities include commuter bus, health club, library, medical facilities, park, public transportation, shopping/mall, and walk-to bus lines

Interior

• Bedrooms: Six bedrooms
• Bathrooms: Three full bathrooms
• Heating & cooling: Gas heating; Central air conditioning
• Interior features: Twelve total rooms; Full, fully finished basement; Attic with access via hatch; Central air conditioning

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Cap rate 8.9% 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; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $3,130/mo this rent would consume 74% 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 $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $74k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 24y ago; this cycle's ask is 964% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $21k; list at $265k implies a 1162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $265,000

Questions for the listing agent

1. Built in 1897 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.39%
• DSCR: 1.42
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $249,948
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 Clark St	0.25mi	5/2.0 (+1)	1,576 (+0%)	22mo	$220,000	$140	65
14 Belden St	0.74mi	4/2.0	1,568 (-0%)	6mo	$345,000	$220	60
122 Wilcox St	0.43mi	5/2.0 (+1)	1,668 (+6%)	8mo	$325,000	$195	58
561 East St	0.66mi	4/2.0	1,732 (+10%)	3mo	$366,500	$212	50
324 Oak St	0.61mi	5/2.5 (+1)	1,613 (+3%)	18mo	$200,000	$124	45
122 Clark St	0.26mi	5/2.0 (+1)	1,752 (+12%)	23mo	$235,000	$134	44
314 Allen St	0.59mi	4/2.0	1,724 (+10%)	18mo	$207,000	$120	41
144 Clark St	0.28mi	5/2.0 (+1)	1,794 (+14%)	22mo	$180,000	$100	40
278 Oak St	0.53mi	5/2.0 (+1)	1,728 (+10%)	22mo	$275,000	$159	36
53 Carlton St	0.70mi	4/2.0	1,768 (+12%)	21mo	$340,000	$192	29

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: 29.8%
• Equity multiple: 3.32×
• Total profit: $172,216
• Equity at exit: $238,733

10-year hold

• IRR: 25.0%
• Equity multiple: 7.22×
• Total profit: $461,812
• Equity at exit: $514,837

Cash invested: $74,200 (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: 14.1×

Monthly cashflow live

• Estimated rent: $3,130 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$392 /mo · $4,704/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $581

Break-even live

Break-even rent $2,395

Max offer price $265,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,130
Total (2 units)			$3,130

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 Oak St Unit 2 New Britain, CT	3.0	1.0	1300	$1,607	$1.24	16d	1	0.06mi
13 Bartlett St Unit 2nd Floor New Britain, CT	4.0	1.0	1100	$2,500	$2.27	20d	1	0.17mi
45 Union St New Britain, CT	5.0	2.0	2060	$2,800	$1.36	24d	1	0.18mi
189 Daly Ave New Britain, CT	3.0	1.0	1250	$1,900	$1.52	15d	1	0.37mi
21 Olive St Unit 2S New Britain, CT	3.0	1.0	1100	$1,600	$1.45	24d	1	0.37mi
59 Dwight St Unit 3RD New Britain, CT	3.0	1.0	1200	$1,800	$1.50	24d	1	0.47mi
59 Dwight St New Britain, CT	3.0	1.0	1200	$1,800	$1.50	44d	1	0.47mi
182 Washington St Unit 3S New Britain, CT	3.0	1.0	1300	$1,650	$1.27	24d	1	0.52mi
182 Washington St Unit 182-A New Britain, CT	3.0	1.0	1300	$1,700	$1.31	24d	1	0.52mi
416 Park St Unit 3 New Britain, CT	3.0	1.0	1221	$2,100	$1.72	3d	1	0.63mi
422 Allen St New Britain, CT	3.0	1.0	1276	$1,800	$1.41	15d	1	0.65mi
1366 Stanley St New Britain, CT	4.0	1.0	1944	$2,400	$1.23	44d	1	0.80mi
94 Glen St New Britain, CT	3.0	1.0	1200	$1,595	$1.33	15d	1	0.86mi
149 Glen St New Britain, CT	3.0	1.0	1136	$1,550	$1.36	44d	1	0.97mi
36 Stratford Rd New Britain, CT	4.0	1.0	1092	$2,400	$2.20	44d	1	0.99mi
17 Foxon Pl New Britain, CT	4.0	1.5	1453	$2,400	$1.65	2d	1	1.00mi
163 Collins St Unit 2 New Britain, CT	3.0	1.0	1150	$2,150	$1.87	21d	1	1.08mi
170 Hillcrest Ave New Britain, CT	4.0	1.0	1118	$2,400	$2.15	2d	1	1.15mi
27 Euston St New Britain, CT	4.0	1.0	1152	$2,400	$2.08	2d	1	1.15mi
371 Broad St Unit 1st Floor New Britain, CT	3.0	1.0	1128	$1,900	$1.68	44d	1	1.18mi
271 Glen St New Britain, CT	3.0	1.0	2230	$1,950	$0.87	2d	1	1.19mi
86 Winthrop St Unit 1W New Britain, CT	3.0	1.0	1298	$1,800	$1.39	16d	1	1.22mi
86 Winthrop St Unit 1E New Britain, CT	3.0	1.0	1298	$1,750	$1.35	16d	1	1.22mi
86 Winthrop St Unit 2W New Britain, CT	3.0	1.0	1300	$1,800	$1.38	24d	1	1.22mi
171 Bassett St New Britain, CT	3.0	1.0	1100	$2,000	$1.82	2d	1	1.25mi
126 Winthrop St Unit 2 New Britain, CT	3.0	1.0	1386	$1,750	$1.26	24d	1	1.26mi
177 Hart St Apt 2 New Britain, CT	3.0	1.0	1100	$1,990	$1.81	2d	1	1.26mi
70 Monroe St Unit 2 New Britain, CT	3.0	1.0	1366	$1,850	$1.35	24d	1	1.30mi
38 Roberts St Fl 1 New Britain, CT	3.0	1.0	1210	$1,700	$1.40	44d	1	1.31mi
125 Overlook Ave Unit 2nd Floor New Britain, CT	3.0	1.0	1166	$2,000	$1.72	3d	1	1.36mi
18 Buell St Unit 1st FL New Britain, CT	3.0	1.0	1250	$1,800	$1.44	44d	1	1.39mi
412 S Main St Unit 1st floor New Britain, CT	3.0	1.0	1863	$1,975	$1.06	2d	1	1.40mi

Listing history 15 events

1. 2026-06-18
   days on market $265,000 Active 14 DOM
2. 2026-06-17
   days on market $265,000 Active 13 DOM
3. 2026-06-16
   days on market $265,000 Active 12 DOM
4. 2026-06-15
   days on market $265,000 Active 11 DOM
5. 2026-06-13
   days on market $265,000 Active 9 DOM
6. 2026-06-13
   days on market $265,000 Active 8 DOM
7. 2026-06-10
   days on market $265,000 Active 6 DOM
8. 2026-06-09
   days on market $265,000 Active 5 DOM
9. 2026-06-08
   days on market $265,000 Active 4 DOM
10. 2026-06-07
    days on market $265,000 Active 3 DOM
11. 2026-06-05
    statusdays on market $265,000 Active 1 DOM
12. 2026-06-03
    days on market $265,000 Coming Soon 3 DOM
13. 2026-06-02
    days on market $265,000 Coming Soon 2 DOM
14. 2026-06-01
    remarks 685-char remark
15. 2026-06-01
    listed $265,000 Coming Soon 1 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: $4,704 · $392/mo
• Projected year-2 tax: $5,188 · $432/mo
• Expected delta: +$484/yr (+$40/mo · 10.3%)

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

Taxation est. · year 1

• Rental income: $37,560
• − Mortgage interest: −$14,844
• − Property taxes: −$4,704
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,005
• − Management: −$3,005
• − Depreciation: −$7,709
• Taxable income: $2,968
• Est. tax owed @ 24.0%: −$712
• After-tax cash flow: $6,255/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

+211.8% since first listed

13 events — show timeline

• 2026-05-31 Coming Soon $265,000 Smart MLS
• 2012-10-16 Sold (Public Records) $21,000 Public Records
• 2012-10-16 Sold (MLS) $21,000 Smart MLS
• 2012-07-24 Listed $24,900 Smart MLS
• 2010-07-06 Sold (MLS) $14,000 Smart MLS
• 2010-07-01 Sold (Public Records) $10,850 Public Records
• 2010-02-05 Listed $24,900 Smart MLS
• 2004-03-18 Sold (MLS) $100,000 Smart MLS
• 2003-11-07 Listed $109,900 Smart MLS
• 2002-11-22 Sold (MLS) $25,500 Smart MLS
• 2002-11-21 Sold (Public Records) $25,500 Public Records
• 2002-10-27 Listed $29,900 Smart MLS
• 2000-12-26 Sold (Public Records) $85,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $4,704 · +2.3% YoY. Source: county tax records.