11 Addison St · Bristol, CT 06010

$325,000

6 bd · 3.0 ba · 2,618 sqft · MultiFamily public records · 6 Days on market

Built 1900 8,276 sqft lot Est $411k · 21% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Nice 3 family with 1st flr updated cabinets,all fire coded up to date,done in 2011. New roof on house and garage in 2011, new driveway,interior painted,porches re built,great investment property.Near center of town.

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $490/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $325k).
• Cap rate 11.9% vs local median 3.3% in Bristol — 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 81/100 on livability (#21 in CT, #1,585 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: schools C-, commute F.
• Bristol School District (suburban): math 28% / reading 44% proficiency, ranked #109 of 153 in CT (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.4%/yr); 220 active listings in the ZIP; solid renter incomes; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $4,862/mo this rent would consume 74% of the median local household income ($79k/yr) (locally 2172% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $91k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 16y 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 $153k; list at $325k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 8→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $325,000

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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.50% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.13%
• DSCR: 1.90
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $411,026
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Addison St	0.00mi	6/3.0	2,618 (0%)	0mo	$395,000	$151	100
24 Colony St	0.31mi	7/2.0 (+1)	2,501 (-4%)	12mo	$400,000	$160	59
116 Divinity St	0.17mi	7/3.0 (+1)	2,947 (+13%)	10mo	$397,898	$135	58
57 Kelley St	0.25mi	6/3.0	2,262 (-14%)	13mo	$407,000	$180	55
97 Gridley St	0.42mi	6/3.0	2,894 (+10%)	12mo	$325,000	$112	53
215 Park St	0.27mi	7/4.0 (+1)	2,290 (-12%)	6mo	$215,000	$94	53
46 Union St	0.65mi	6/2.0	2,400 (-8%)	2mo	$360,000	$150	50
76 Gridley St	0.40mi	5/3.0 (-1)	2,894 (+10%)	14mo	$424,000	$147	47
29 Lincoln Pl	0.56mi	6/2.0	2,288 (-13%)	3mo	$360,000	$157	46
20 George St	0.65mi	5/3.0 (-1)	2,352 (-10%)	11mo	$390,000	$166	38
65 Melrose St	0.59mi	5/2.5 (-1)	2,346 (-10%)	13mo	$425,000	$181	38
57 Lincoln St	0.75mi	5/3.0 (-1)	2,236 (-15%)	11mo	$420,000	$188	27

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

Projected returns pro-forma

-3.0% appreciation · 5.41% rent growth · sell at horizon

5-year hold

• IRR: 14.2%
• Equity multiple: 1.59×
• Total profit: $53,238
• Equity at exit: $48,459

10-year hold

• IRR: 24.8%
• Equity multiple: 3.41×
• Total profit: $219,644
• Equity at exit: $28,100

Cash invested: $91,000 (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 06010

• Rents YoY: 5.4%
• Active inventory: 220
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $4,862 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$475 /mo · $5,698/yr
• Insurance: −$135
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,021
• Net cashflow: $1,471

Break-even live

Break-even rent $3,000

Max offer price $325,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,655	-5% $1,563	+0% $1,471	+5% $1,379	+10% $1,287
Rent	-10% $1,087	-5% $1,279	+0% $1,471	+5% $1,663	+10% $1,855
Rate	-1.0pp $1,635	-0.5pp $1,554	base $1,471	+0.5pp $1,387	+1.0pp $1,301

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,863
Total (3 units)			$4,862

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-03-25
   status Under Contract
2. 2026-03-20
   listed $325,000 Active
3. 2026-03-19
   historical $325,000
4. 2022-01-21
   status Active
5. 2022-01-21
   historical
6. 2022-01-17
   status Under Contract - Continue to Show
7. 2022-01-15
   historical
8. 2022-01-01
   historical Under Contract - Continue to Show
9. 2022-01-01
   status Active
10. 2021-12-31
    historical
11. 2021-11-14
    status Under Contract - Continue to Show
12. 2021-11-12
    historical
13. 2021-11-11
    historical Under Contract - Continue to Show
14. 2021-08-31
    price $247,500
15. 2021-07-23
    status Active
16. 2021-03-02
    listed $260,000 Active
17. 2014-12-31
    soldstatus $153,000 215-char remark

    Show marketing remark (215 chars)

    Nice 3 family with 1st flr updated cabinets,all fire coded up to date,done in 2011. New roof on house and garage in 2011, new driveway,interior painted,porches re built,great investment property.Near center of town.

18. 2014-04-24
    listed $164,900 215-char remark

    Show marketing remark (215 chars)

    Nice 3 family with 1st flr updated cabinets,all fire coded up to date,done in 2011. New roof on house and garage in 2011, new driveway,interior painted,porches re built,great investment property.Near center of town.

19. 2013-11-02
    historical
20. 2013-05-19
    historical
21. 2013-05-17
    listed $174,900
22. 2012-09-10
    listed $179,900
23. 2011-02-02
    soldstatus $125,000
24. 2010-02-08
    listed $159,900

ⓘ 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: $5,698 · $475/mo
• Projected year-2 tax: $6,326 · $527/mo
• Expected delta: +$628/yr (+$52/mo · 11.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 8 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,344
• − Mortgage interest: −$18,205
• − Property taxes: −$5,698
• − Insurance: −$2,292
• − Repairs & maintenance: −$4,668
• − Management: −$4,668
• − Depreciation: −$9,455
• Taxable income: $13,360
• Est. tax owed @ 24.0%: −$3,206
• After-tax cash flow: $14,444/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: Bristol School District
• NCES district ID: 0900510
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $59,953
• Composite: 32.07/100
• National rank: #5814
• State rank: #109 of 153 in CT

Livability — Bristol

• Score: 81/100
• State rank: #21
• US rank: #1585

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, CT
• County: Hartford County · 754,208 people
• City population: 61,684
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 61,684
• Household income: $79,314
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 2172.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 13% Black 7% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 13%
• Common ancestry: Lithuanian 11% Romanian 10% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 11% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Naugatuck Valley

• 2024 margin: Lean R (+7.4) · D 45.6% · R 53.0% · Other 1.4%
• All cycles: 2024: R+7.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -293.55%
• Current HPI: 255.5419
• Rent YoY: ▲ 5.41%
• 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

+103.3% since first listed

24 events — show timeline

• 2026-03-25 Pending — Smart MLS
• 2026-03-20 Listed $325,000 Smart MLS
• 2026-03-19 Coming Soon $325,000 Smart MLS
• 2022-01-21 Relisted — Smart MLS
• 2022-01-21 Listing Removed — Smart MLS
• 2022-01-17 Relisted — Smart MLS
• 2022-01-15 Listing Removed — Smart MLS
• 2022-01-01 Contingent — Smart MLS
• 2022-01-01 Relisted — Smart MLS
• 2021-12-31 Listing Removed — Smart MLS
• 2021-11-14 Relisted — Smart MLS
• 2021-11-12 Listing Removed — Smart MLS
• 2021-11-11 Contingent — Smart MLS
• 2021-08-31 Price Changed $247,500 Smart MLS
• 2021-07-23 Relisted — Smart MLS
• 2021-03-02 Listed $260,000 Smart MLS
• 2014-12-31 Sold (MLS) $153,000 Smart MLS
• 2014-04-24 Listed $164,900 Smart MLS
• 2013-11-02 Listing Removed — Smart MLS
• 2013-05-19 Listing Removed — Smart MLS
• 2013-05-17 Listed $174,900 Smart MLS
• 2012-09-10 Listed $179,900 Smart MLS
• 2011-02-02 Sold (MLS) $125,000 Smart MLS
• 2010-02-08 Listed $159,900 Smart MLS

Property tax history

+3.3%/yr

Latest (2025): $5,698 · +6.0% YoY. Source: county tax records.