28 Whitney St · Hartford, CT 06105

$1,320,000

216 bd · 144.0 ba · 8,784 sqft · MultiFamily · 130 Days on market

Built 1924 6,098 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 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 MLS

*INVESTMENT OPPORTUNITY* 28 Whitney is a 12-unit multi-family that has undergone extensive renovations in the last 12 months. This building features (6) 1-bedroom and (6) 2-bedroom units. Many units have been recently remodeled including new bathroom renovations along with electrical, plumbing, and aesthetic improvements. Newly-installed gas commercial-grade water heater from 2020. Flat roof is approximately 4 years old. Parking is leased from adjacent lot for 10 spaces, which are monitored and includes plowing. Building has a beautiful architectural deign and is conveniently located on the West Hartford line. Close y to major highways.

Key facts

• On site laundry
• Strong rental demand
• Owner paid gas heat

Tags

• TURN-KEY MULTIFAMILY GEM
• TUDOR-STYLE BRICK BUILDING
• STRONG RENTAL DEMAND
• OWNER PAID GAS HEAT
• ON SITE LAUNDRY
• PARKING AVAILABLE FOR RENT

What this means for you Summary

Snapshot

• This is a 12 × 18-bed/12.0-bath units multifamily listed at $1.32M.

Deal economics

• At list price, monthly cash flow is $9k ($113k/yr) — positive. Per door: $783/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($23k rent vs $1.32M).
• Recommended offer: $1.16M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#58 in CT, #3,553 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools D-, crime F, employment F.
• Hartford School District (urban): math 13% / reading 21% proficiency, ranked #150 of 153 in CT (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.7%/yr); 47 active listings in the ZIP; lower-income renter base — watch delinquency; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $23,442/mo this rent would consume 671% of the median local household income ($42k/yr) (locally 2389% 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 $9k of loan paydown is wiped out by about $40k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $370k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($1.16M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y 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 $1.08M; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $1,161,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% 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 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is F 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?
9. 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.
10. 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.
11. 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: 1.78% ✓
• Cap rate: 14.84%
• Cash-on-cash: 30.51%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.73% rent growth · sell at horizon

5-year hold

• IRR: 29.4%
• Equity multiple: 2.29×
• Total profit: $476,224
• Equity at exit: $196,816

10-year hold

• IRR: 38.8%
• Equity multiple: 5.31×
• Total profit: $1,591,242
• Equity at exit: $114,129

Cash invested: $369,600 (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 06105

• Home prices YoY: -25.6%
• Rents YoY: 6.7%
• Active inventory: 47
• Price-to-rent: 56.3×

Monthly cashflow live

• Estimated rent: $23,442 medium
• Mortgage (P&I): −$6,922
• Tax est. 1.5%: −$1,650 /mo · $19,800/yr
• Insurance: −$550
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,923
• Net cashflow: $9,397

Break-even live

Break-even rent $11,547

Max offer price $1,320,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 12× units	18	12	$23,436
Total (12 units)			$23,442

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: $330,000
• Closing costs: $39,600
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-04-11
   status Under Contract
2. 2026-02-24
   historical Under Contract - Continue to Show
3. 2026-02-06
   status Active
4. 2025-12-31
   historical Under Contract - Continue to Show
5. 2025-12-01
   listed $1,320,000 Active
6. 2022-04-25
   soldstatus $1,081,216 Closed 644-char remark

   Show marketing remark (644 chars)

   *INVESTMENT OPPORTUNITY* 28 Whitney is a 12-unit multi-family that has undergone extensive renovations in the last 12 months. This building features (6) 1-bedroom and (6) 2-bedroom units. Many units have been recently remodeled including new bathroom renovations along with electrical, plumbing, and aesthetic improvements. Newly-installed gas commercial-grade water heater from 2020. Flat roof is approximately 4 years old. Parking is leased from adjacent lot for 10 spaces, which are monitored and includes plowing. Building has a beautiful architectural deign and is conveniently located on the West Hartford line. Close y to major highways.

7. 2022-03-25
   historical Under Contract - Continue to Show 644-char remark

   Show marketing remark (644 chars)

   *INVESTMENT OPPORTUNITY* 28 Whitney is a 12-unit multi-family that has undergone extensive renovations in the last 12 months. This building features (6) 1-bedroom and (6) 2-bedroom units. Many units have been recently remodeled including new bathroom renovations along with electrical, plumbing, and aesthetic improvements. Newly-installed gas commercial-grade water heater from 2020. Flat roof is approximately 4 years old. Parking is leased from adjacent lot for 10 spaces, which are monitored and includes plowing. Building has a beautiful architectural deign and is conveniently located on the West Hartford line. Close y to major highways.

8. 2022-03-11
   listed $1,150,000 Active 644-char remark

   Show marketing remark (644 chars)

   *INVESTMENT OPPORTUNITY* 28 Whitney is a 12-unit multi-family that has undergone extensive renovations in the last 12 months. This building features (6) 1-bedroom and (6) 2-bedroom units. Many units have been recently remodeled including new bathroom renovations along with electrical, plumbing, and aesthetic improvements. Newly-installed gas commercial-grade water heater from 2020. Flat roof is approximately 4 years old. Parking is leased from adjacent lot for 10 spaces, which are monitored and includes plowing. Building has a beautiful architectural deign and is conveniently located on the West Hartford line. Close y to major highways.

9. 2020-10-26
   historical
10. 2020-09-15
    listed $1,150,000 Active
11. 2018-11-15
    soldstatus $888,000 Closed
12. 2018-10-26
    historical
13. 2018-10-19
    historical Under Contract - Continue to Show
14. 2018-10-05
    listed $904,900 Active
15. 2017-09-29
    soldstatus $845,000
16. 2017-06-17
    historical
17. 2017-06-01
    listed $895,000
18. 2007-03-30
    soldstatus $740,000
19. 2007-02-01
    listed $789,900
20. 2005-03-28
    soldstatus $530,000
21. 2005-01-15
    listed $589,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $281,304
• − Mortgage interest: −$73,941
• − Property taxes: −$19,800
• − Insurance: −$6,600
• − Repairs & maintenance: −$22,504
• − Management: −$22,504
• − Depreciation: −$38,400
• Taxable income: $97,555
• Est. tax owed @ 24.0%: −$23,413
• After-tax cash flow: $89,350/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: Hartford School District
• NCES district ID: 0901920
• Math proficiency: 13% ▼ -5.00%
• Reading proficiency: 21% ▼ -6.00%
• Median HH income: $30,521
• Composite: 13.54/100
• National rank: #9514
• State rank: #150 of 153 in CT

Livability — Hartford

• Score: 76/100
• State rank: #58
• US rank: #3553

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartford, CT
• County: Hartford County · 754,208 people
• City population: 121,162
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 19,174
• Household income: $41,937
• Rent vs Own: 80.7% rent · 19.3% own
• Severe rent burden: 2389.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 39% White 28% Hispanic / Latino 26% Two or more races 14% Asian 2%
• Hispanic origin (detail): Puerto Rican 18% Cuban 1% Dominican 3%
• Common ancestry: Romanian 3% Lithuanian 2% Estonian 1%
• Foreign-born: 20% · Canada, United Kingdom
• Languages at home: 74% English-only · Spanish 18% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -59.58%
• Current HPI: 173.3602
• Rent YoY: ▲ 6.73%
• 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

+124.1% since first listed

21 events — show timeline

• 2026-04-11 Pending — Smart MLS
• 2026-02-24 Contingent — Smart MLS
• 2026-02-06 Relisted — Smart MLS
• 2025-12-31 Contingent — Smart MLS
• 2025-12-01 Listed $1,320,000 Smart MLS
• 2022-04-25 Sold (MLS) $1,081,216 Smart MLS
• 2022-03-25 Contingent — Smart MLS
• 2022-03-11 Listed $1,150,000 Smart MLS
• 2020-10-26 Listing Removed — Smart MLS
• 2020-09-15 Listed $1,150,000 Smart MLS
• 2018-11-15 Sold (MLS) $888,000 Smart MLS
• 2018-10-26 Listing Removed — Smart MLS
• 2018-10-19 Contingent — Smart MLS
• 2018-10-05 Listed $904,900 Smart MLS
• 2017-09-29 Sold (MLS) $845,000 Smart MLS
• 2017-06-17 Listing Removed — Smart MLS
• 2017-06-01 Listed $895,000 Smart MLS
• 2007-03-30 Sold (MLS) $740,000 Smart MLS
• 2007-02-01 Listed $789,900 Smart MLS
• 2005-03-28 Sold (MLS) $530,000 Smart MLS
• 2005-01-15 Listed $589,000 Smart MLS