150-D Clinic Dr #102 · New Britain, CT 06051

$99,900

2 bd · 1.0 ba · 814 sqft · Condo public records · 7 Days on market

Built 1969 $325/mo HOA · 20% of rent

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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 +25.3/30.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.0/10.0

Listing remarks

Best and Final Tuesday 4-21-26 3PM. Well-located 2-bedroom ranch-style condo offering strong potential for both owner-occupants and investors. This unit features a functional single-level layout and is ready for your personal updates and improvements. HOA fee includes heat, helping keep monthly expenses more predictable. With a little work, this property can truly shine-whether you're looking to customize your own space or add a solid rental to your portfolio.

Key facts

• $325 HOA
• Parking
• Built 1969

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 9.0% vs local median 4.4% in New Britain — 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 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: New Britain High School (math 10% / reading 31%, grade F, #162 of 194 statewide, top 83%, 2,331 students, 71% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: Rents soft (-0.6%/yr); 63 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• This rent runs 38% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $64k; list at $100k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.62% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.73%
• DSCR: 1.43
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 29.7%
• Equity multiple: 3.30×
• Total profit: $64,358
• Equity at exit: $89,998

10-year hold

• IRR: 24.6%
• Equity multiple: 7.08×
• Total profit: $170,167
• Equity at exit: $194,084

Cash invested: $27,972 (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 06051

• Home prices YoY: 9.0%
• Rents YoY: -0.6%
• Active inventory: 63
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,617 high
• Mortgage (P&I): −$524
• Tax from tax record: −$160 /mo · $1,925/yr
• Insurance: −$42
• HOA: −$325
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $227

Break-even live

Break-even rent $1,330

Max offer price $99,900

Occupancy floor 81%

Sensitivity live

Price	-10% $283	-5% $255	+0% $227	+5% $198	+10% $170
Rent	-10% $99	-5% $163	+0% $227	+5% $291	+10% $355
Rate	-1.0pp $277	-0.5pp $252	base $227	+0.5pp $201	+1.0pp $175

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Clinic Dr New Britain, CT	2.0	1.0	850	$1,700	$2.00	45d	1	0.04mi
123 Clinic Dr Apt 101 New Britain, CT	2.0	1.0	825	$1,600	$1.94	45d	1	0.04mi
131 Clinic Dr Apt 309 New Britain, CT	2.0	1.0	850	$1,600	$1.88	45d	1	0.06mi
265 Kensington Ave Apt 15 New Britain, CT	1.0	1.0	530	$1,400	$2.64	45d	1	0.28mi
168 Greenwood St Unit 2 New Britain, CT	2.0	1.0	800	$1,650	$2.06	45d	1	0.31mi
468 S Main St Unit 207 New Britain, CT	1.0	1.0	650	$1,325	$2.04	25d	1	0.51mi
90 Monroe St Apt 8 New Britain, CT	3.0	1.0	1000	$1,675	$1.68	45d	1	0.52mi
90 Monroe St Apt 5 New Britain, CT	2.0	1.0	700	$1,450	$2.07	4d	1	0.52mi
171 Bassett St New Britain, CT	3.0	1.0	1100	$2,000	$1.82	3d	1	0.52mi
265 Lincoln St Unit B Kensington, CT	2.0	1.0	850	$2,650	$3.12	45d	1	0.53mi
8 Locust St New Britain, CT	3.0	1.0	950	$1,800	$1.89	22d	1	0.57mi
73 Brooklawn St Unit 3 New Britain, CT	2.0	1.0	1116	$2,000	$1.79	3d	1	0.58mi
67 Brooklawn St Fl 2 New Britain, CT	3.0	1.0	1100	$1,900	$1.73	45d	1	0.59mi
25-29 Locust St New Britain, CT	1.0	1.0	650	$1,150	$1.77	45d	1	0.61mi
254 Corbin Ave Unit 3 New Britain, CT	2.0	1.0	1082	$1,750	$1.62	45d	1	0.64mi
57 Whiting St Unit 53-8 New Britain, CT	3.0	1.0	1000	$1,600	$1.60	45d	1	0.82mi
57 Whiting St Unit 53-4 New Britain, CT	3.0	1.0	1000	$1,625	$1.62	17d	1	0.82mi
177 Hart St Apt 2 New Britain, CT	3.0	1.0	1100	$1,990	$1.81	3d	1	0.84mi
111 Franklin Sq Unit 102 New Britain, CT	2.0	1.0	775	$1,650	$2.13	16d	1	0.87mi
111 Franklin Sq Apt 207 New Britain, CT	1.0	1.0	714	$1,500	$2.10	17d	1	0.87mi
10 Grand St Unit 105 New Britain, CT	1.0	1.0	600	$1,349	$2.25	16d	1	0.90mi
45 Park Pl #407 New Britain, CT	1.0	1.0	689	$1,400	$2.03	4d	1	1.13mi
136 Main St Unit 505 New Britain, CT	1.0	1.0	800	$1,700	$2.12	25d	1	1.17mi
160 Main St New Britain, CT	1.0–2.0	1.0	850	$1,950	$2.29	3d	2	1.18mi
17 Edgewood Ave Apt 203 New Britain, CT	2.0	1.0	800	$1,350	$1.69	4d	1	1.22mi
99 W Main St New Britain, CT	2.0	1.0	850	$1,500	$1.76	17d	1	1.28mi
26 Cedar St Unit 1st Floor New Britain, CT	2.0	1.0	1000	$1,650	$1.65	45d	1	1.28mi
267 S Main St New Britain, CT	1.0	1.0	624	$1,949	$3.12	25d	2	1.32mi
237 Rocky Hill Ave Rm 3 New Britain, CT	1.0	1.0	750	$775	$1.03	4d	1	1.34mi
465 South St Unit 1 New Britain, CT	3.0	1.0	1100	$1,900	$1.73	45d	1	1.36mi
59 Dwight St Unit 3RD New Britain, CT	3.0	1.0	1000	$1,750	$1.75	45d	1	1.49mi

HOA detail condo

• Monthly dues: $325 · $3,900/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-04-24
   status Under Contract
2. 2026-04-16
   listed $99,900 Active
3. 1987-04-01
   soldstatus $63,500

ⓘ 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: $1,925 · $160/mo
• Projected year-2 tax: $2,031 · $169/mo
• Expected delta: +$106/yr (+$9/mo · 5.5%)

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

Taxation est. · year 1

• Rental income: $19,408
• − Mortgage interest: −$5,596
• − Property taxes: −$1,925
• − Insurance: −$500
• − Repairs & maintenance: −$1,553
• − Management: −$1,553
• − HOA: −$3,900
• − Depreciation: −$2,906
• Taxable income: $1,476
• Est. tax owed @ 24.0%: −$354
• After-tax cash flow: $2,367/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): 29,548
• Household income: $51,022
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 2100.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 30% Two or more races 17% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 40% Dominican 4%
• Common ancestry: Romanian 7% Lithuanian 6% Slovak 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 39% Russian/Polish/Slavic 6% Arabic 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: ▲ 31.52%
• Current HPI: 382.7816
• Rent YoY: ▼ -0.58%
• 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

+57.3% since first listed

3 events — show timeline

• 2026-04-24 Pending — Smart MLS
• 2026-04-16 Listed $99,900 Smart MLS
• 1987-04-01 Sold (Public Records) $63,500 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,925 · +2.3% YoY. Source: county tax records.