74-76 Bridle Path · Newington, CT 06111

$430,000

5 bd · 3.0 ba · 2,538 sqft · MultiFamily public records · 11 Days on market

Built 1984 0.27 ac lot $169/sqft · 6% below area Est $460k · 6% 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 +10.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Great Location. Great Multi-Unit. Three (3) Garages, One For Each Unit. 74 Is 3-Bedrooms 2-Full Baths 1-Half Bath In Unit Laundry Basement With Mechanicals & Storage And A Garage. 76-A Is 2-Bedrooms 1-Full Bath 1-Half Bath In Unit Laundry Basement With Mechanicals & Storage And A Garage. 76-B Lower Level Is 1-Bedroom 1-Full Bath In Unit Laundry Storage & Mechanical Room And A Garage. Needs Updating Throughout. Needs New Roof. Please See GIS And Attached Maps This Property Is On The Newington / Berlin Town Line And Includes Two(2) Small Abutting Pieces That Are In Berlin. The Property To The Right And Back Has A Driveway Easement / R. O. W. Documented And Recorded On The La

Key facts

• Storage
• Garage
• Multi-unit

Tags

• MULTI-UNIT
• IN UNIT LAUNDRY
• BASEMENT WITH MECHANICALS
• STORAGE
• GARAGE
• FULLY RENTED

Property features AI

Exterior

• Parking: Attached garage; 3 garage spaces
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Concrete foundation
• Exterior features: Located on a cul-de-sac; Vinyl siding; Asphalt shingle roof

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 4 full bathrooms; 2 half bathrooms
• Heating & cooling: Baseboard heating; Hot water heating; Heat fuel: Electric and Oil; Hot water: Electric 30‑gallon tank; Fuel tank located in basement
• Interior features: 17 total rooms; One fireplace; Full, heated basement with walk-out access and partially finished/liveable apartment space; Attic with walk-up access and storage space

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $430k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $430k).
• Cap rate 12.8% vs local median 4.4% in Newington — 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 79/100 on livability (#30 in CT, #2,143 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Berlin School District (suburban): math 47% / reading 58% proficiency, ranked #69 of 153 in CT (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 94 active listings in the ZIP; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $6,940/mo this rent would consume 81% of the median local household income ($103k/yr) (locally 553% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.0% rent growth), your $120k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $430,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.61% ✓
• Cap rate: 12.78%
• Cash-on-cash: 23.16%
• DSCR: 2.03
• GRM: 5.2

CMA / ARV

• ARV (median comp): $459,728
• List price: $430,000
• Delta: -6.47%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.98% rent growth · sell at horizon

5-year hold

• IRR: 13.8%
• Equity multiple: 1.54×
• Total profit: $64,739
• Equity at exit: $64,114

10-year hold

• IRR: 21.0%
• Equity multiple: 2.61×
• Total profit: $193,387
• Equity at exit: $37,179

Cash invested: $120,400 (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 06111

• Rents YoY: 1.0%
• Active inventory: 94
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $6,940 high
• Mortgage (P&I): −$2,255
• Tax from tax record: −$724 /mo · $8,692/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,457
• Net cashflow: $2,324

Break-even live

Break-even rent $3,998

Max offer price $430,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
1× unit	3	2.5	$2,604
1× unit	2	1.5	$2,324
1× unit	1	1	$2,012
Total (3 units)			$6,940

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: $107,500
• Closing costs: $12,900
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-07
   listed $430,000 Active 1285-char remark

ⓘ 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: $8,692 · $724/mo
• Projected year-2 tax: $8,947 · $746/mo
• Expected delta: +$255/yr (+$21/mo · 2.9%)

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

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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,280
• − Mortgage interest: −$24,087
• − Property taxes: −$8,692
• − Insurance: −$2,150
• − Repairs & maintenance: −$6,662
• − Management: −$6,662
• − Depreciation: −$12,509
• Taxable income: $22,517
• Est. tax owed @ 24.0%: −$5,404
• After-tax cash flow: $22,485/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: Berlin School District
• NCES district ID: 0900210
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 58% ▼ -8.00%
• Median HH income: $87,497
• Composite: 48.4/100
• National rank: #2136
• State rank: #69 of 153 in CT

Livability — Newington

• Score: 79/100
• State rank: #30
• US rank: #2143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hartford County · 754,208 people
• City population: 30,896
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 30,896
• Household income: $102,884
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 553.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 12% Two or more races 8% Asian 7% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5%
• Common ancestry: Romanian 12% Lithuanian 7% Russian 3%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 72% English-only · Spanish 8% Other Indo-European 8% Russian/Polish/Slavic 7%

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: ▼ -194.94%
• Current HPI: 185.3332
• Rent YoY: ▲ 0.98%
• 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

3 events — show timeline

• 2026-05-29 Listing Removed — Smart MLS
• 2026-05-20 Pending — Smart MLS
• 2026-05-07 Listed $430,000 Smart MLS

Property tax history

+1.3%/yr

Latest (2025): $8,692 · +0.8% YoY. Source: county tax records.