61-63 Bedford St · Hartford, CT 06120

$635,000

18 bd · 6.0 ba · 6,504 sqft · MultiFamily · 5 Days on market

Built 1918 Good condition 4,791 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
• Appreciation +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +3.2/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Exceptional opportunity to acquire a cash-flowing 6-unit multifamily located just minutes from Downtown Hartford. This well-maintained, three-story brick building features six spacious 3-bedroom, 1-bath units. Recent capital improvements include renovated kitchens and bathrooms in select units, brand new roof, and newer on demand boilers/ hot water in each unit, reducing future capital expenditures. The property is separately metered, tenant-paid utilities, allowing for efficient expense management and maximizing net operating income. Additional upside exists through continued unit upgrades and rental increases, making this an ideal opportunity for any investor.

Key facts

• Renovated kitchens
• Renovated bathrooms
• Brand new roof

Tags

• MULTIFAMILY
• THREE-STORY BRICK BUILDING
• RENOVATED KITCHENS
• RENOVATED BATHROOMS
• BRAND NEW ROOF
• UPDATED NAVIEN HEATING SYSTEMS

What this means for you Summary

Snapshot

• This is a 6 × 3-bed/1-bath units multifamily listed at $635k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $7k ($79k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $635k).

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 (+2.8%/yr); 21 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 $13,864/mo this rent would consume 478% of the median local household income ($35k/yr) (locally 1435% 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 ($4k loan paydown + $45k appreciation (7.1% local appreciation)).
• At projected returns (7.1% appreciation + 2.8% rent growth), your $178k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$79k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $635,000

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 1918 — 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. 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?
7. 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.
8. 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.
9. 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: 2.18% ✓
• Cap rate: 18.70%
• Cash-on-cash: 44.30%
• DSCR: 2.97
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.12% appreciation · 2.83% rent growth · sell at horizon

5-year hold

• IRR: 54.9%
• Equity multiple: 4.61×
• Total profit: $642,195
• Equity at exit: $444,864

10-year hold

• IRR: 50.8%
• Equity multiple: 9.71×
• Total profit: $1,548,958
• Equity at exit: $849,447

Cash invested: $177,800 (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 06120

• Home prices YoY: 2.4%
• Rents YoY: 2.8%
• Active inventory: 21
• Price-to-rent: 22.9×

Monthly cashflow live

• Estimated rent: $13,864 high
• Mortgage (P&I): −$3,330
• Tax est. 1.5%: −$794 /mo · $9,525/yr
• Insurance: −$265
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,911
• Net cashflow: $6,564

Break-even live

Break-even rent $5,555

Max offer price $635,000

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
▸ 6× units	3	1	$13,866
Total (6 units)			$13,864

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: $158,750
• Closing costs: $19,050
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-06
   status Under Contract 670-char remark

   Show marketing remark (670 chars)

   Exceptional opportunity to acquire a cash-flowing 6-unit multifamily located just minutes from Downtown Hartford. This well-maintained, three-story brick building features six spacious 3-bedroom, 1-bath units. Recent capital improvements include renovated kitchens and bathrooms in select units, brand new roof, and newer on demand boilers/ hot water in each unit, reducing future capital expenditures. The property is separately metered, tenant-paid utilities, allowing for efficient expense management and maximizing net operating income. Additional upside exists through continued unit upgrades and rental increases, making this an ideal opportunity for any investor.

2. 2026-04-30
   listed $635,000 Active 670-char remark

   Show marketing remark (670 chars)

   Exceptional opportunity to acquire a cash-flowing 6-unit multifamily located just minutes from Downtown Hartford. This well-maintained, three-story brick building features six spacious 3-bedroom, 1-bath units. Recent capital improvements include renovated kitchens and bathrooms in select units, brand new roof, and newer on demand boilers/ hot water in each unit, reducing future capital expenditures. The property is separately metered, tenant-paid utilities, allowing for efficient expense management and maximizing net operating income. Additional upside exists through continued unit upgrades and rental increases, making this an ideal opportunity for any investor.

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 24% 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: $166,368
• − Mortgage interest: −$35,570
• − Property taxes: −$9,525
• − Insurance: −$3,175
• − Repairs & maintenance: −$13,309
• − Management: −$13,309
• − Depreciation: −$18,473
• Taxable income: $73,007
• Est. tax owed @ 24.0%: −$17,522
• After-tax cash flow: $61,249/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 · 5 photos

Good 75/100 Cosmetic rehab

This well-maintained, three-story brick building offers six spacious 3-bedroom units with recent capital improvements. While the home is in good condition, minor updates to the kitchen and bathrooms can significantly enhance its value.

Repairs flagged

• Minor Kitchen cabinets — Worn and dated appearance
• Minor Bathroom fixtures — Basic and dated appearance
• Minor Interior paint — Average condition with some wear

Value-add opportunities

• Both Kitchen renovation — Modernizing the kitchen can significantly increase both resale and rental value
• Both Bathroom upgrades — Updating bathrooms can boost both resale and rental appeal
• Both Paint interior walls — Fresh paint can improve the home's curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and dated appearance	Minor	$500–3,000
Bathroom fixtures · Basic and dated appearance	Minor	$500–3,000
Interior paint · Average condition with some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Kitchen renovation — Modernizing the kitchen can significantly increase both resale and rental value ↑
• Both Bathroom upgrades — Updating bathrooms can boost both resale and rental appeal ↑
• Both Paint interior walls — Fresh paint can improve the home's curb appeal and interior aesthetics ↑

ⓘ 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): 13,926
• Household income: $34,830
• Rent vs Own: 87.2% rent · 12.8% own
• Severe rent burden: 1435.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 46% Black 46% Two or more races 21% White 3%
• Hispanic origin (detail): Puerto Rican 37% Dominican 1%
• Common ancestry: Estonian 1% Portuguese 1%
• Foreign-born: 14% · Canada
• Languages at home: 61% English-only · Spanish 36% Other Indo-European 1%

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: ▲ 7.12%
• Current HPI: 307.6427
• Rent YoY: ▲ 2.83%
• 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

2 events — show timeline

• 2026-05-06 Pending — Smart MLS
• 2026-04-30 Listed $635,000 Smart MLS