104 Alexander Rd · New Britain, CT 06053

$228,000

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 14 Days on market

Built 1952 6,098 sqft lot Est $281k · 19% under

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +9.3/30.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• 1% rule +3.3/10.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

Calling all investors and rehab Buyers.This Home Sweet Home Cape is close to the Farmington line and has lots of potential for expansion in the unfinished walk up attic. It is in the process of being cleaned out. One owner home in clean condition but in need of total remodeling. Hardwood floors under carpeting. Conveniently located near 1-84, CCSU, UCONN Health Center, Stanley Golf course & Batterson Park. Field card lists 2 bedrooms & has 216 SF in attic which is the heated 3rd bedroom. Sold in AS IS condition.

Key facts

• Finished room
• Leveled lot
• Three-season porch

Tags

• LEVELED LOT
• HUGE MATURE CHERRY TREE
• THREE-SEASON PORCH
• FINISHED ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $228k.

Deal economics

• At list price, monthly cash flow is $-168 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (13.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (16.9% below list).
• Recommended offer: $189k (16.9% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 4.2% in New Britain — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 74/100 on livability (#67 in CT, #4,936 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: crime D, employment D.
• New Britain School District (suburban): math 6% / reading 17% proficiency, ranked #153 of 153 in CT (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Diloreto Elementary & Middle School (math 4% / reading 15%, grade F, #522 of 553 statewide, top 95%, 842 students, 73% FRL); Pulaski Middle School (math 0% / reading 13%, grade F, #171 of 175 statewide, top 98%, 867 students, 80% FRL); New Britain High School (math 10% / reading 31%, grade F, #162 of 194 statewide, top 83%, 2,331 students, 71% FRL) — zoned schools at 75% FRL track the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 71 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• This rent runs 36% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $90k; list at $228k implies a 153% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,375 (16.9% 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. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 5.41%
• Cash-on-cash: -3.15%
• DSCR: 0.86
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $280,800
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
266 Cianci Rd	0.32mi	2/1.0	910 (-3%)	10mo	$281,000	$309	72
2268 Stanley St	0.19mi	2/1.0	1,014 (+8%)	9mo	$282,000	$278	70
256 Alexander Rd	0.28mi	3/1.0 (+1)	884 (-6%)	10mo	$255,000	$288	64
35 Cianci Rd	0.11mi	3/1.0 (+1)	832 (-11%)	11mo	$250,000	$300	62
44 Nachilly Dr	0.32mi	3/1.0 (+1)	1,014 (+8%)	5mo	$298,000	$294	62
80 Nachilly Dr	0.26mi	2/1.0	832 (-11%)	9mo	$290,000	$349	62
263 Cianci Rd	0.33mi	2/1.0	988 (+6%)	18mo	$255,000	$258	61
192 Blodgett Roy Dr	0.44mi	3/1.0 (+1)	988 (+6%)	6mo	$341,000	$345	60
191 Belridge Rd	0.29mi	2/1.5	1,040 (+11%)	23mo	$312,000	$300	47
172 Merigold Dr	0.48mi	3/1.0 (+1)	982 (+5%)	22mo	$292,000	$297	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 4.94% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 2.84×
• Total profit: $117,335
• Equity at exit: $205,400

10-year hold

• IRR: 20.8%
• Equity multiple: 6.68×
• Total profit: $362,377
• Equity at exit: $442,954

Cash invested: $63,840 (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 06053

• Home prices YoY: 15.4%
• Rents YoY: 4.9%
• Active inventory: 71
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,894 high
• Mortgage (P&I): −$1,196
• Tax from tax record: −$373 /mo · $4,479/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-168

Break-even live

Break-even rent $2,106

Max offer price $198,350

Occupancy floor —

Sensitivity live

Price	-10% $-39	-5% $-103	+0% $-168	+5% $-232	+10% $-297
Rent	-10% $-317	-5% $-243	+0% $-168	+5% $-93	+10% $-18
Rate	-1.0pp $-53	-0.5pp $-110	base $-168	+0.5pp $-227	+1.0pp $-287

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: $57,000
• Closing costs: $6,840
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2100 Stanley St #411 New Britain, CT	1.0	1.0	700	$1,495	$2.14	18d	1	0.37mi
46 Brittany Farms Rd New Britain, CT	1.0–2.0	1.0	820	$2,025	$2.47	3d	1	0.53mi
80 Batterson Park Rd Farmington, CT	2.0	1.0–2.0	900	$4,793	$5.32	3d	98	0.94mi
1600 New Britain Ave Farmington, CT	1.0–2.0	1.0–1.5	1112	$2,595	$2.33	3d	1	1.24mi
15 Farm Springs Rd Farmington, CT	2.0	2.0	864	$3,599	$4.16	3d	18	1.26mi
418 Farmington Ave New Britain, CT	1.0	1.0	662	$1,275	$1.92	45d	1	1.36mi
287 South Rd Unit T Farmington, CT	1.0	1.0	650	$1,800	$2.77	5d	1	1.36mi
87 Jackson St New Britain, CT	2.0	1.0	800	$1,700	$2.12	45d	1	1.43mi

Listing history 8 events

1. 2026-06-22
   days on market $228,000 Active 14 DOM
2. 2026-06-18
   days on market $228,000 Active 11 DOM
3. 2026-06-17
   days on market $228,000 Active 10 DOM
4. 2026-06-16
   days on market $228,000 Active 9 DOM
5. 2026-06-15
   days on market $228,000 Active 8 DOM
6. 2026-06-13
   days on market $228,000 Active 6 DOM
7. 2026-06-13
   remarks 627-char remark
8. 2026-06-13
   listed $228,000 Active 5 DOM

ⓘ 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: $4,479 · $373/mo
• Projected year-2 tax: $4,679 · $390/mo
• Expected delta: +$200/yr (+$17/mo · 4.5%)

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

Taxation est. · year 1

• Rental income: $22,725
• − Mortgage interest: −$12,772
• − Property taxes: −$4,479
• − Insurance: −$1,140
• − Repairs & maintenance: −$1,818
• − Management: −$1,818
• − Depreciation: −$6,633
• Taxable loss: −$5,934
• Est. tax savings @ 24.0%: +$1,424
• After-tax cash flow: $-590/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: New Britain School District
• NCES district ID: 0902670
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $40,827
• Composite: 9.95/100
• National rank: #9816
• State rank: #153 of 153 in CT

Livability — New Britain

• Score: 74/100
• State rank: #67
• US rank: #4936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Britain, CT
• County: Hartford County · 754,208 people
• City population: 66,322
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 36,774
• Household income: $62,645
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 1835.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 36% Two or more races 13% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 25% Dominican 4%
• Common ancestry: Romanian 19% Lithuanian 3% Russian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 50% English-only · Spanish 26% Russian/Polish/Slavic 15% French/Haitian/Cajun 3%

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: ▲ 65.76%
• Current HPI: 491.4724
• Rent YoY: ▲ 4.94%
• 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

+153.6% since first listed

7 events — show timeline

• 2026-06-10 Relisted — Smart MLS
• 2026-03-23 Listing Removed — Smart MLS
• 2026-03-18 Listed $228,000 Smart MLS
• 2018-11-30 Sold (Public Records) $90,000 Public Records
• 2018-11-27 Sold (MLS) $90,000 Smart MLS
• 2018-11-02 Listing Removed — Smart MLS
• 2018-10-25 Listed $89,900 Smart MLS

Property tax history

+2.8%/yr

Latest (2025): $4,479 · +2.4% YoY. Source: county tax records.