22 Burton St · Hartford, CT 06112

$589,900

12 bd · 3.5 ba · 3,194 sqft · MultiFamily · 18 Days on market

Built 1910 Poor condition 7,405 sqft lot

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Why this score? — see what drove the D+ 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 +11.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Schools +1.4/10.0
• Condition / age +1.0/5.0

Multi-family units

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

Listing remarks MLS

Perfect opportunity to restore 2 units in a neighborhood location. Large enough to possibly convert into 3 units. This is a 3194 square foot multi family home with 6 bedrooms and 3 bathrooms. Nice yard space. Property will not qualify for financing. Being sold as is, cash.

Key facts

• 7,405 sq ft lot
• Built 1910
• Listed 18 days

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Domestic hot water
• Home design: Multi-family property (2-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof
• Exterior features: Level lot; Vinyl siding; Brick exterior

Interior

• Bedrooms: 12 bedrooms total
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Hot water heating; Natural gas fuel
• Interior features: Full basement; Attic with hatch access; Two fireplaces; 18 total rooms (property-wide)
• Laundry & utility: Basement laundry hook-ups

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $590k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative. Per door: $-74/mo.
• To cash-flow at today's rent, offer at most $569k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $497k (15.7% below list).
• Recommended offer: $497k (15.7% below list) — sets the bar for 1% rule.

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: 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.
• Zoned schools: Wish Museum School (math 8% / reading 8%, grade F, #529 of 553 statewide, top 97%, 291 students, 90% FRL); Hartford Public High School (math 2% / reading 12%, grade F, #188 of 194 statewide, top 98%, 709 students, 82% FRL) — zoned schools at 86% FRL track the district average.
• Market conditions: 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 $4,974/mo this rent would consume 134% of the median local household income ($44k/yr) (locally 1466% 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 $63k of equity ($4k loan paydown + $59k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$101k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $255k; list at $590k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $497,400 (15.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.84% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.89×
• Total profit: $311,975
• Equity at exit: $531,429

10-year hold

• IRR: 20.9%
• Equity multiple: 6.61×
• Total profit: $926,236
• Equity at exit: $1,146,046

Cash invested: $165,172 (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 06112

• Home prices YoY: 4.9%
• Active inventory: 47
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $4,974 high
• Mortgage (P&I): −$3,093
• Tax est. 1.5%: −$737 /mo · $8,848/yr
• Insurance: −$246
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,045
• Net cashflow: $-147

Break-even live

Break-even rent $5,160

Max offer price $568,599

Occupancy floor 98%

Sensitivity live

Price	-10% $260	-5% $57	+0% $-147	+5% $-351	+10% $-555
Rent	-10% $-540	-5% $-344	+0% $-147	+5% $49	+10% $246
Rate	-1.0pp $150	-0.5pp $3	base $-147	+0.5pp $-300	+1.0pp $-456

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$4,974
Total (2 units)			$4,974

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: $147,475
• Closing costs: $17,697
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-22
   days on market $589,900 Active 18 DOM
2. 2026-06-18
   days on market $589,900 Active 15 DOM
3. 2026-06-17
   days on market $589,900 Active 14 DOM
4. 2026-06-16
   days on market $589,900 Active 13 DOM
5. 2026-06-15
   days on market $589,900 Active 12 DOM
6. 2026-06-13
   days on market $589,900 Active 10 DOM
7. 2026-06-13
   days on market $589,900 Active 9 DOM
8. 2026-06-10
   days on market $589,900 Active 7 DOM
9. 2026-06-09
   days on market $589,900 Active 6 DOM
10. 2026-06-08
    days on market $589,900 Active 5 DOM
11. 2026-06-07
    days on market $589,900 Active 4 DOM
12. 2026-06-05
    remarks 361-char remark
13. 2026-06-05
    listed $589,900 Active 1 DOM

ⓘ 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: $59,688
• − Mortgage interest: −$33,044
• − Property taxes: −$8,848
• − Insurance: −$2,950
• − Repairs & maintenance: −$4,775
• − Management: −$4,775
• − Depreciation: −$17,161
• Taxable loss: −$11,864
• Est. tax savings @ 24.0%: +$2,847
• After-tax cash flow: $1,081/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 · 1 photo

Poor 20/100 Extensive rehab

This two-family home requires extensive repairs and updates to its roof, exterior, flooring, interior walls, HVAC, and landscaping, significantly impacting its current condition and value.

Repairs flagged

• Major roof — Signs of potential leaks and wear.
• Major exterior siding — Severe peeling and damage.
• Major flooring — Old and in need of replacement.
• Major interior walls/paint — Wear and discoloration indicating lack of recent maintenance.
• Major HVAC/mechanicals — No recent maintenance or updates.
• Major landscaping — Overgrown and in need of trimming and maintenance.

Value-add opportunities

• Both roof replacement — Fixing the roof will improve the home's appearance and functionality.
• Both exterior siding and paint — Updating the exterior will significantly improve the home's curb appeal and value.
• Both flooring replacement — Replacing old flooring will enhance the home's livability and resale value.
• Both HVAC maintenance and updates — Upgrading the HVAC system will improve comfort and energy efficiency.
• Both landscaping and curb appeal — Trimming and maintaining the landscaping will greatly improve the home's curb appeal and value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of potential leaks and wear.	Major	$15,000–50,000
exterior siding · Severe peeling and damage.	Major	$15,000–50,000
flooring · Old and in need of replacement.	Major	$15,000–50,000
interior walls/paint · Wear and discoloration indicating lack of recent maintenance.	Major	$15,000–50,000
HVAC/mechanicals · No recent maintenance or updates.	Major	$15,000–50,000
landscaping · Overgrown and in need of trimming and maintenance.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both roof replacement — Fixing the roof will improve the home's appearance and functionality. ↑
• Both exterior siding and paint — Updating the exterior will significantly improve the home's curb appeal and value. ↑
• Both flooring replacement — Replacing old flooring will enhance the home's livability and resale value. ↑
• Both HVAC maintenance and updates — Upgrading the HVAC system will improve comfort and energy efficiency. ↑
• Both landscaping and curb appeal — Trimming and maintaining the landscaping will greatly improve the home's curb appeal and value. ↑

ⓘ 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): 22,333
• Household income: $44,460
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 1466.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 19% White 9% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 15% Dominican 1%
• Common ancestry: Hispanic 2%
• Foreign-born: 26% · Canada
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 2% 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: ▲ 14.58%
• Current HPI: 310.7763
• Rent YoY: —
• 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

+136.9% since first listed

4 events — show timeline

• 2026-06-03 Listed $589,900 Smart MLS
• 2025-02-27 Sold (MLS) $255,000 Smart MLS
• 2025-01-28 Pending — Smart MLS
• 2025-01-13 Listed $249,000 Smart MLS