17 Austin St · New Britain, CT 06051

$425,000

6 bd · 3.0 ba · 2,320 sqft · MultiFamily public records · 45 Days on market

Built 1900 10,454 sqft lot Est $380k · 12% over

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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).

• Cash flow +22.7/30.0
• Appreciation +10.0/10.0
• DSCR +7.3/10.0
• 1% rule +6.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• ARV discount +2.2/15.0
• Schools +1.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

This 3-Family presents buyers with an investment opportunity! Featuring 2 bedrooms and 1 full bath per unit, over 3,000 sq. ft!

Key facts

• Renovated kitchen
• New lvp flooring
• Fully occupied

Tags

• FULLY OCCUPIED
• STRONG RENTAL HISTORY
• RECENT INTERIOR UPGRADES
• RENOVATED KITCHEN
• NEW LVP FLOORING
• UPDATED PLUMBING

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $729 ($9k/yr) — positive. Per door: $243/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $425k).
• Recommended offer: $412k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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; 1 comparable units currently listed for rent nearby; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).

Forward outlook

• In year one you build about $45k of equity ($3k loan paydown + $42k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $119k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$73k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y 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 $103k; list at $425k implies a 313% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $412,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.11% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $380,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 East St	0.07mi	6/4.0	2,231 (-4%)	9mo	$440,000	$197	79
23 Edward St	0.18mi	6/3.0	2,482 (+7%)	4mo	$360,000	$145	77
11 Dwight Ct	0.46mi	6/3.0	2,210 (-5%)	3mo	$290,000	$131	68
163 Fairview St	0.29mi	6/2.5	2,480 (+7%)	10mo	$400,000	$161	65
267 Chapman St	0.51mi	5/3.0 (-1)	2,318 (-0%)	8mo	$360,000	$155	64
5 Whitman St	0.23mi	6/2.0	2,540 (+10%)	10mo	$452,000	$178	61
80 Collins St	0.42mi	6/3.0	2,610 (+12%)	1mo	$507,000	$194	58
144 Dwight St	0.40mi	6/3.0	2,033 (-12%)	5mo	$340,000	$167	56
484 Church St	0.36mi	5/3.0 (-1)	2,620 (+13%)	0mo	$430,000	$164	56
159 Rhodes St	0.52mi	6/2.0	2,600 (+12%)	3mo	$435,000	$167	50
29 Olive St	0.65mi	6/3.0	2,668 (+15%)	5mo	$400,000	$150	41
11 Sunrise Ave	0.70mi	6/2.0	2,606 (+12%)	11mo	$377,000	$145	34

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 28.4%
• Equity multiple: 3.22×
• Total profit: $264,111
• Equity at exit: $382,874

10-year hold

• IRR: 23.9%
• Equity multiple: 7.02×
• Total profit: $716,646
• Equity at exit: $825,682

Cash invested: $119,000 (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: 22.4×

Monthly cashflow live

• Estimated rent: $4,737 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$608 /mo · $7,293/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$995
• Net cashflow: $729

Break-even live

Break-even rent $3,815

Max offer price $425,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,737
Total (3 units)			$4,737

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Union St New Britain, CT	5.0	2.0	2060	$2,800	$1.36	23d	1	0.93mi

Listing history 21 events

1. 2026-04-06
   status Under Contract
2. 2026-02-20
   listed $425,000 Active
3. 2019-03-08
   soldstatus $103,000 Closed 127-char remark

   Show marketing remark (127 chars)

   This 3-Family presents buyers with an investment opportunity! Featuring 2 bedrooms and 1 full bath per unit, over 3,000 sq. ft!

4. 2019-02-22
   historical 127-char remark

   Show marketing remark (127 chars)

   This 3-Family presents buyers with an investment opportunity! Featuring 2 bedrooms and 1 full bath per unit, over 3,000 sq. ft!

5. 2019-01-18
   price $119,900 127-char remark

   Show marketing remark (127 chars)

   This 3-Family presents buyers with an investment opportunity! Featuring 2 bedrooms and 1 full bath per unit, over 3,000 sq. ft!

6. 2018-12-20
   listed $129,900 Active 127-char remark

   Show marketing remark (127 chars)

   This 3-Family presents buyers with an investment opportunity! Featuring 2 bedrooms and 1 full bath per unit, over 3,000 sq. ft!

7. 2018-10-26
   historical
8. 2018-08-31
   price $179,900
9. 2017-06-29
   listed $182,500 Active
10. 2017-05-07
    historical
11. 2017-03-23
    listed $139,900
12. 2007-02-07
    soldstatus $250,000
13. 2007-02-05
    soldstatus $250,000
14. 2006-06-02
    listed $259,900
15. 2004-08-09
    soldstatus $95,000
16. 2004-08-06
    soldstatus $95,000
17. 2004-02-29
    listed $119,900
18. 2002-07-03
    soldstatus $108,000
19. 2002-02-28
    soldstatus $63,000
20. 2002-02-12
    soldstatus $63,000
21. 2001-10-06
    listed $79,900

ⓘ 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: $7,293 · $608/mo
• Projected year-2 tax: $8,194 · $683/mo
• Expected delta: +$901/yr (+$75/mo · 12.4%)

ⓘ 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 ≥97°F today · 15 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: $56,844
• − Mortgage interest: −$23,807
• − Property taxes: −$7,293
• − Insurance: −$2,125
• − Repairs & maintenance: −$4,548
• − Management: −$4,548
• − Depreciation: −$12,364
• Taxable income: $2,161
• Est. tax owed @ 24.0%: −$519
• After-tax cash flow: $8,225/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

+431.9% since first listed

21 events — show timeline

• 2026-04-06 Pending — Smart MLS
• 2026-02-20 Listed $425,000 Smart MLS
• 2019-03-08 Sold (MLS) $103,000 Smart MLS
• 2019-02-22 Listing Removed — Smart MLS
• 2019-01-18 Price Changed $119,900 Smart MLS
• 2018-12-20 Listed $129,900 Smart MLS
• 2018-10-26 Listing Removed — Smart MLS
• 2018-08-31 Price Changed $179,900 Smart MLS
• 2017-06-29 Listed $182,500 Smart MLS
• 2017-05-07 Listing Removed — Smart MLS
• 2017-03-23 Listed $139,900 Smart MLS
• 2007-02-07 Sold (Public Records) $250,000 Public Records
• 2007-02-05 Sold (MLS) $250,000 Smart MLS
• 2006-06-02 Listed $259,900 Smart MLS
• 2004-08-09 Sold (Public Records) $95,000 Public Records
• 2004-08-06 Sold (MLS) $95,000 Smart MLS
• 2004-02-29 Listed $119,900 Smart MLS
• 2002-07-03 Sold (Public Records) $108,000 Public Records
• 2002-02-28 Sold (Public Records) $63,000 Public Records
• 2002-02-12 Sold (MLS) $63,000 Smart MLS
• 2001-10-06 Listed $79,900 Smart MLS

Property tax history

+3.7%/yr

Latest (2025): $7,293 · +2.4% YoY. Source: county tax records.