26 Elm St · Winsted, CT 06098

$398,000

15 bd · 9.0 ba · 2,496 sqft · MultiFamily · 9 Days on market

Built 1920 3,484 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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Welcome to 26 Elm St! A prime investment opportunity that combines residential comfort with commercial potential. This updated two-family building, complete with an additional private office for commercial use, offers a multitude of possibilities. Whether you're looking to establish a private practice, expand your business operations, or generate rental income, this dedicated office area provides the flexibility and functionality required to meet your commercial needs. Located in the downtown district, ample parking is available to accommodate both residents and potential business clientele. With numerous updates including the kitchen, plumbing, and electrical systems, this property is primed for income generation. The first-floor apartment features an updated kitchen, creating a welcoming space to prepare meals and entertain guests. Additionally, it boasts a comfortable bedroom and a renovated full bathroom, providing modern convenience and style. The second-floor apartment is designed for spacious and comfortable living. It offers three well-appointed bedrooms, allowing ample room for family members or guests. The updated full bathroom features contemporary fixtures, and the inclusion of washer and dryer hookups ensures convenient laundry access. Schedule your showing today!

Key facts

• Updated interiors
• Legally converted
• Prime location

Tags

• NEWLY RENOVATED
• LEGALLY CONVERTED
• UPDATED INTERIORS
• RECENTLY IMPROVED EXTERIOR
• ADDITIONAL INCOME POTENTIAL
• PRIME LOCATION

Property features AI

Finance

• Financial info: Assessed value listed

Exterior

• Utilities: Public water connected; Public sewer connected; Electric hot water
• Home design: Multi-family property (3-family)
• Construction: Built with frame and masonry construction; Concrete foundation; Flat roof
• Exterior features: Level lot; Stucco exterior

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot water heating powered by natural gas; Window unit cooling
• Interior features: Partial basement; Total of 10 rooms (multi-family totals included)

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $398k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $416/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $398k).
• Cap rate 10.3% vs local median 4.1% in Winsted — 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 80/100 on livability (#25 in CT, #1,955 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, employment D-.
• Winchester School District (town): math 53% / reading 49% proficiency, ranked #131 of 192 in CT (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 61 active listings in the ZIP; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• At $5,145/mo this rent would consume 93% of the median local household income ($66k/yr) (locally 576% 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 $12k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $111k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 5y 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 $246k; list at $398k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wind risk, 26% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $398,000

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 1920 — 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: 1.29% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.15%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $15,086
• Equity at exit: $59,343

10-year hold

• IRR: 13.1%
• Equity multiple: 2.04×
• Total profit: $115,936
• Equity at exit: $34,412

Cash invested: $111,440 (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 06098

• Home prices YoY: -19.2%
• Active inventory: 61
• Price-to-rent: 19.3×

Monthly cashflow live

• Estimated rent: $5,145 medium
• Mortgage (P&I): −$2,087
• Tax est. 1.5%: −$498 /mo · $5,970/yr
• Insurance: −$166
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,080
• Net cashflow: $1,248

Break-even live

Break-even rent $3,566

Max offer price $398,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,523	-5% $1,385	+0% $1,248	+5% $1,110	+10% $973
Rent	-10% $841	-5% $1,044	+0% $1,248	+5% $1,451	+10% $1,654
Rate	-1.0pp $1,448	-0.5pp $1,349	base $1,248	+0.5pp $1,144	+1.0pp $1,040

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$5,145
Total (3 units)			$5,145

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: $99,500
• Closing costs: $11,940
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $398,000 Active 9 DOM
2. 2026-06-18
   days on market $398,000 Active 8 DOM
3. 2026-06-17
   days on market $398,000 Active 7 DOM
4. 2026-06-16
   days on market $398,000 Active 6 DOM
5. 2026-06-15
   days on market $398,000 Active 5 DOM
6. 2026-06-14
   days on market $398,000 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $398,000 Active 2 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 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥93°F today · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $61,740
• − Mortgage interest: −$22,294
• − Property taxes: −$5,970
• − Insurance: −$2,788
• − Repairs & maintenance: −$4,939
• − Management: −$4,939
• − Depreciation: −$11,578
• Taxable income: $9,232
• Est. tax owed @ 24.0%: −$2,216
• After-tax cash flow: $12,756/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: Winchester School District
• NCES district ID: 0905160
• Math proficiency: 53% ▲ 5.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $58,334
• Composite: 46.4/100
• National rank: #5353
• State rank: #131 of 192 in CT

Livability — Winsted

• Score: 80/100
• State rank: #25
• US rank: #1955

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winsted, CT
• County: Litchfield County · 81,203 people
• City population: 10,263
• Metro: Torrington, CT
• Population (ZIP): 10,263
• Household income: $66,269
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 576.0

Population outlook (Northwest Hills County) Hauer SSP2

• By 2040: 118,998

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 4%
• Common ancestry: Romanian 6% Lithuanian 5% Slovak 3%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Northwest Hills

• 2024 margin: Toss-up / Even · D 48.6% · R 49.9% · Other 1.6%
• All cycles: 2024: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.68%
• Current HPI: 263.2141
• Rent YoY: —
• Metro: Torrington, 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

+99.1% since first listed

12 events — show timeline

• 2026-06-10 Listed $398,000 Smart MLS
• 2026-05-07 Listing Removed — Smart MLS
• 2026-04-21 Pending — Smart MLS
• 2026-04-16 Listed $398,000 Smart MLS
• 2026-04-09 Coming Soon — Smart MLS
• 2023-09-22 Sold (MLS) $245,900 Smart MLS
• 2023-09-09 Contingent — Smart MLS
• 2023-08-02 Relisted — Smart MLS
• 2023-07-16 Pending — Smart MLS
• 2023-07-10 Listed $245,900 Smart MLS
• 2021-12-29 Listing Removed — Smart MLS
• 2021-08-27 Listed $199,900 Smart MLS