268-270 Franklin Ave · Hartford, CT 06114

$469,900

24 bd · 16.0 ba · 4,018 sqft · MultiFamily · 59 Days on market

Built 1925 Good condition 7,405 sqft lot $117/sqft · 16% below area Est $558k · 16% under

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Why this score? — see what drove the A 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 +14.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Schools +1.4/10.0

Multi-family units

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

Listing remarks MLS

Located in the heart of Hartford's vibrant Franklin Avenue corridor, this 4-unit mixed-use multifamily property offers the perfect blend of commercial income and residential cash flow. The first-floor storefront is currently occupied by a long-established barber shop, while the upper levels feature three thoughtfully designed residential units ranging from one to three bedrooms. Each apartment includes a generous kitchen, in-unit washer hookups, and one full bathroom-except for the spacious three-bedroom unit, which boasts two full baths and has been intentionally left vacant. This gives the new owner immediate flexibility to occupy the unit themselves or lease it at today's strong market rents. Additional highlights include four detached garages-two currently rented to tenants and two used by the landlord-providing extra income potential and added convenience. With a proven track record of high occupancy and reliable rental income, this turnkey building delivers consistent cash flow in a high-demand rental market. Tenants enjoy easy access to Downtown Hartford, major highways, shopping, dining, and public transportation, making the property highly desirable for both renters and future resale value. Whether you are an experienced investor seeking stable returns or looking to expand your portfolio, 268-270 Franklin Avenue represents a rare opportunity for long-term growth and financial strength. Interested parties are encouraged to contact me for additional details or to

Key facts

• Generous kitchen
• Detached garages
• 7,405 sq ft lot

Tags

• MIXED-USE MULTIFAMILY PROPERTY
• FIRST-FLOOR STOREFRONT
• LONG-ESTABLISHED BARBER SHOP
• GENEROUS KITCHEN
• IN-UNIT WASHER HOOKUPS
• DETACHED GARAGES

What this means for you Summary

Snapshot

• This is a 1×1bd/1ba + 1×2bd/1ba + 2×3bd/2ba units multifamily listed at $470k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $713/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $470k).
• Recommended offer: $456k (3.0% 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 (+1.5%/yr); 54 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $7,719/mo this rent would consume 178% of the median local household income ($52k/yr) (locally 1897% 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 $50k of equity ($3k loan paydown + $47k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 1.5% rent growth), your $132k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$81k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($456k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $455,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.64% ✓
• Cap rate: 13.57%
• Cash-on-cash: 26.00%
• DSCR: 2.16
• GRM: 5.1

CMA / ARV

• ARV (median comp): $558,466
• List price: $469,900
• Delta: -15.86%
• Verdict: UNDERPRICED
• Comps: 10 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: 43.0%
• Equity multiple: 4.24×
• Total profit: $425,890
• Equity at exit: $423,323

10-year hold

• IRR: 36.6%
• Equity multiple: 9.28×
• Total profit: $1,089,333
• Equity at exit: $912,912

Cash invested: $131,572 (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 06114

• Home prices YoY: 4.7%
• Rents YoY: 1.5%
• Active inventory: 54
• Price-to-rent: 23.5×

Monthly cashflow live

• Estimated rent: $7,719 high
• Mortgage (P&I): −$2,464
• Tax est. 1.5%: −$587 /mo · $7,048/yr
• Insurance: −$196
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,621
• Net cashflow: $2,851

Break-even live

Break-even rent $4,111

Max offer price $469,900

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,667
1× unit	2	1	$1,864
▸ 2× units	3	2	$4,188
Total (4 units)			$7,719

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: $117,475
• Closing costs: $14,097
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $469,900 Active 59 DOM
2. 2026-06-17
   days on market $469,900 Active 58 DOM
3. 2026-06-16
   days on market $469,900 Active 57 DOM
4. 2026-06-15
   days on market $469,900 Active 56 DOM
5. 2026-06-13
   days on market $469,900 Active 54 DOM
6. 2026-06-13
   days on market $469,900 Active 53 DOM
7. 2026-06-10
   days on market $469,900 Active 51 DOM
8. 2026-06-09
   days on market $469,900 Active 50 DOM
9. 2026-06-08
   days on market $469,900 Active 49 DOM
10. 2026-06-07
    days on market $469,900 Active 48 DOM
11. 2026-06-05
    days on market $469,900 Active 45 DOM
12. 2026-06-03
    days on market $469,900 Active 44 DOM
13. 2026-06-02
    days on market $469,900 Active 43 DOM
14. 2026-06-01
    days on market $469,900 Active 42 DOM
15. 2026-05-31
    days on market $469,900 Active 41 DOM
16. 2026-04-17
    listed $469,900 Active 1494-char remark

    Show marketing remark (1494 chars)

    Located in the heart of Hartford's vibrant Franklin Avenue corridor, this 4-unit mixed-use multifamily property offers the perfect blend of commercial income and residential cash flow. The first-floor storefront is currently occupied by a long-established barber shop, while the upper levels feature three thoughtfully designed residential units ranging from one to three bedrooms. Each apartment includes a generous kitchen, in-unit washer hookups, and one full bathroom-except for the spacious three-bedroom unit, which boasts two full baths and has been intentionally left vacant. This gives the new owner immediate flexibility to occupy the unit themselves or lease it at today's strong market rents. Additional highlights include four detached garages-two currently rented to tenants and two used by the landlord-providing extra income potential and added convenience. With a proven track record of high occupancy and reliable rental income, this turnkey building delivers consistent cash flow in a high-demand rental market. Tenants enjoy easy access to Downtown Hartford, major highways, shopping, dining, and public transportation, making the property highly desirable for both renters and future resale value. Whether you are an experienced investor seeking stable returns or looking to expand your portfolio, 268-270 Franklin Avenue represents a rare opportunity for long-term growth and financial strength. Interested parties are encouraged to contact me for additional details or to

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

Taxation est. · year 1

• Rental income: $92,628
• − Mortgage interest: −$26,322
• − Property taxes: −$7,048
• − Insurance: −$2,350
• − Repairs & maintenance: −$7,410
• − Management: −$7,410
• − Depreciation: −$13,670
• Taxable income: $28,418
• Est. tax owed @ 24.0%: −$6,820
• After-tax cash flow: $27,387/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 4-unit multifamily property in Hartford's Franklin Avenue corridor is in good condition with cosmetic updates needed to enhance its curb appeal and interior aesthetics.

Repairs flagged

• Minor kitchen cabinets — dated cabinetry
• Minor bathroom fixtures — dated fixtures
• Minor landscaping — bare lawn, overgrown bushes

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both replace kitchen cabinets — modernizes the kitchen and increases appeal
• Both replace bathroom fixtures — modernizes the bathrooms and increases appeal
• Both landscaping — enhances curb appeal and creates a more inviting front yard

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated cabinetry	Minor	$500–3,000
bathroom fixtures · dated fixtures	Minor	$500–3,000
landscaping · bare lawn, overgrown bushes	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace kitchen cabinets — modernizes the kitchen and increases appeal ↑
• Both replace bathroom fixtures — modernizes the bathrooms and increases appeal ↑
• Both landscaping — enhances curb appeal and creates a more inviting front yard ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 26,458
• Household income: $52,110
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 1897.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 60% White 19% Black 19% Two or more races 10% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 36% Dominican 6%
• Common ancestry: American 6% Romanian 1% Lithuanian 1%
• Foreign-born: 31% · Canada, Jamaica
• Languages at home: 36% English-only · Spanish 49% Russian/Polish/Slavic 8% Other Indo-European 4%

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: ▲ 16.02%
• Current HPI: 356.5892
• Rent YoY: ▲ 1.47%
• 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

1 event — show timeline

• 2026-04-17 Listed $469,900 Smart MLS