174 Hillside Ave · Hartford, CT 06106

$1,615,000

8 bd · 256.0 ba · 4,618 sqft · MultiFamily public records · 43 Days on market

Built 1959 6,098 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 16 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Exceptional opportunity to acquire an income producing and fully renovated 16-unit brick asset in the South End of Hartford. All units feature vinyl plank flooring and updated kitchens and bathrooms. The units offer a clean and contemporary living space that attracts and retains quality tenants. Capital improvements include a new boiler, upgraded electrical, and digitally controlled lockout thermostats, providing operational efficiency and long-term reliability. With significant upgrades already completed, this is a turnkey, low-maintenance investment, offering strong in-place and immediate income.

Key facts

• Fully renovated
• New boiler
• Upgraded electrical

Tags

• FULLY RENOVATED
• VINYL PLANK FLOORING
• UPDATED KITCHENS
• UPDATED BATHROOMS
• NEW BOILER
• UPGRADED ELECTRICAL

What this means for you Summary

Snapshot

• This is a 16 × 1-bed/1-bath units multifamily listed at $1.61M.

Deal economics

• At list price, monthly cash flow is $7k ($83k/yr) — positive. Per door: $434/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($23k rent vs $1.61M).
• Recommended offer: $1.57M (3.0% below list) — sets the bar for market timing.

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: schools D-, 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.
• Market conditions: Rents rising (+2.4%/yr); 62 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $22,508/mo this rent would consume 583% of the median local household income ($46k/yr) (locally 3400% 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 $33k of equity ($11k loan paydown + $22k appreciation (1.4% local appreciation)).
• At projected returns (1.4% appreciation + 2.4% rent growth), your $452k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$118k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($1.57M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $648k; list at $1.61M implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — 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 $1,566,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1959 — 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 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?
7. 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?
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: 1.39% ✓
• Cap rate: 11.46%
• Cash-on-cash: 18.44%
• DSCR: 1.82
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.38% appreciation · 2.37% rent growth · sell at horizon

5-year hold

• IRR: 20.8%
• Equity multiple: 2.08×
• Total profit: $488,544
• Equity at exit: $583,107

10-year hold

• IRR: 23.1%
• Equity multiple: 3.83×
• Total profit: $1,278,975
• Equity at exit: $800,088

Cash invested: $452,200 (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 06106

• Home prices YoY: 0.4%
• Rents YoY: 2.4%
• Active inventory: 62
• Price-to-rent: 95.7×

Monthly cashflow live

• Estimated rent: $22,508 medium
• Mortgage (P&I): −$8,469
• Tax from tax record: −$1,691 /mo · $20,295/yr
• Insurance: −$673
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,727
• Net cashflow: $6,948

Break-even live

Break-even rent $13,713

Max offer price $1,615,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 16× units	1	1	$22,512
Total (16 units)			$22,508

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: $403,750
• Closing costs: $48,450
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $1,615,000 Active 43 DOM
2. 2026-06-17
   days on market $1,615,000 Active 42 DOM
3. 2026-06-16
   days on market $1,615,000 Active 41 DOM
4. 2026-06-15
   days on market $1,615,000 Active 40 DOM
5. 2026-06-13
   days on market $1,615,000 Active 38 DOM
6. 2026-06-13
   days on market $1,615,000 Active 37 DOM
7. 2026-06-10
   days on market $1,615,000 Active 35 DOM
8. 2026-06-09
   days on market $1,615,000 Active 34 DOM
9. 2026-06-08
   days on market $1,615,000 Active 33 DOM
10. 2026-06-07
    days on market $1,615,000 Active 32 DOM
11. 2026-06-05
    days on market $1,615,000 Active 29 DOM
12. 2026-06-03
    days on market $1,615,000 Active 28 DOM
13. 2026-06-02
    days on market $1,615,000 Active 27 DOM
14. 2026-06-01
    days on market $1,615,000 Active 26 DOM
15. 2026-05-31
    days on market $1,615,000 Active 25 DOM
16. 2026-05-06
    listed $1,615,000 Active 605-char remark

    Show marketing remark (605 chars)

    Exceptional opportunity to acquire an income producing and fully renovated 16-unit brick asset in the South End of Hartford. All units feature vinyl plank flooring and updated kitchens and bathrooms. The units offer a clean and contemporary living space that attracts and retains quality tenants. Capital improvements include a new boiler, upgraded electrical, and digitally controlled lockout thermostats, providing operational efficiency and long-term reliability. With significant upgrades already completed, this is a turnkey, low-maintenance investment, offering strong in-place and immediate income.

17. 2013-10-08
    soldstatus $648,000
18. 2010-05-29
    historical
19. 2010-01-29
    listed $820,000
20. 2007-08-31
    historical
21. 2007-05-17
    listed $925,000
22. 2006-06-09
    soldstatus $745,000
23. 2004-02-13
    soldstatus $282,500

ⓘ 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: $20,295 · $1,691/mo
• Projected year-2 tax: $27,428 · $2,286/mo
• Expected delta: +$7,133/yr (+$594/mo · 35.1%)

ⓘ 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 · 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: $270,096
• − Mortgage interest: −$90,465
• − Property taxes: −$20,295
• − Insurance: −$8,075
• − Repairs & maintenance: −$21,608
• − Management: −$21,608
• − Depreciation: −$46,982
• Taxable income: $61,064
• Est. tax owed @ 24.0%: −$14,655
• After-tax cash flow: $68,720/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: 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): 36,322
• Household income: $46,304
• Rent vs Own: 76.7% rent · 23.3% own
• Severe rent burden: 3400.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 25% Black 18% White 15% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 42% Dominican 6%
• Common ancestry: Lithuanian 2% Russian 1% Romanian 1%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 46% English-only · Spanish 47% Other Indo-European 3% Other Asian/Pacific 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: ▲ 1.38%
• Current HPI: 314.0899
• Rent YoY: ▲ 2.37%
• 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

+471.7% since first listed

8 events — show timeline

• 2026-05-06 Listed $1,615,000 Smart MLS
• 2013-10-08 Sold (Public Records) $648,000 Public Records
• 2010-05-29 Listing Removed — Smart MLS
• 2010-01-29 Listed $820,000 Smart MLS
• 2007-08-31 Listing Removed — Smart MLS
• 2007-05-17 Listed $925,000 Smart MLS
• 2006-06-09 Sold (Public Records) $745,000 Public Records
• 2004-02-13 Sold (Public Records) $282,500 Public Records

Property tax history

+5.4%/yr

Latest (2025): $20,295 · +0.0% YoY. Source: county tax records.