56 Bidwell Ter · Middletown, CT 06457

$329,900

4 bd · 2.0 ba · 1,078 sqft · MultiFamily public records · 83 Days on market

Built 1953 8,712 sqft lot $306/sqft · 68% above area Est $393k · 16% under

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Why this score? — see what drove the D 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 +14.7/15.0
• Cash flow +10.9/30.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• 1% rule +3.0/10.0
• Schools +3.0/10.0
• Rent growth +2.6/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Seller willing to offer closing cost credit. Beautifully updated home featuring a fully finished lower-level in-law apartment with its own entrance, kitchen, and living space - perfect for rental income or multigenerational living. Offset your mortgage or create a flexible dual-living setup in one of Middletown's most convenient locations. Recently updated kitchen and baths. Huge driveway with plenty of off street parking.

Key facts

• 8,712 sq ft lot
• 4 parking spots
• Built 1953

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $330k.

Deal economics

• At list price, monthly cash flow is $-148 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (7.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (20.4% below list).
• Recommended offer: $263k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.7% in Middletown — 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 81/100 on livability (#17 in CT, #1,390 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: commute F.
• Middletown School District (urban): math 24% / reading 44% proficiency, ranked #113 of 153 in CT (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bielefield School (math 12% / reading 27%, grade F, #447 of 553 statewide, top 82%, 271 students, 61% FRL); Beman Middle School (math 19% / reading 44%, grade F, #134 of 175 statewide, top 77%, 968 students, 49% FRL); Middletown High School (math 25% / reading 52%, grade F, #111 of 194 statewide, top 57%, 1,214 students, 49% FRL).
• Market conditions: Rents flat; 147 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).
• This rent runs 40% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $60k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $230k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $262,680 (20.4% 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. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.80% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.92%
• DSCR: 0.91
• GRM: 10.5

CMA / ARV

• ARV (median comp): $392,835
• List price: $329,900
• Delta: -14.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.22% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: 0.24×
• Total profit: $-70,001
• Equity at exit: $49,189

10-year hold

• IRR: -25.6%
• Equity multiple: -0.09×
• Total profit: $-100,788
• Equity at exit: $28,524

Cash invested: $92,372 (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 06457

• Rents YoY: 0.2%
• Active inventory: 147
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,627 medium
• Mortgage (P&I): −$1,730
• Tax from tax record: −$355 /mo · $4,263/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $-148

Break-even live

Break-even rent $2,814

Max offer price $303,832

Occupancy floor —

Sensitivity live

Price	-10% $39	-5% $-54	+0% $-148	+5% $-241	+10% $-334
Rent	-10% $-355	-5% $-251	+0% $-148	+5% $-44	+10% $60
Rate	-1.0pp $19	-0.5pp $-64	base $-148	+0.5pp $-233	+1.0pp $-320

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 E Main St Middletown, CT	4.0	1.0	1207	$2,200	$1.82	5d	1	0.64mi
73 Silver St Middletown, CT	4.0	2.0	1322	$2,500	$1.89	25d	1	0.75mi
1 Alicia Ln Unit B Middletown, CT	3.0	2.0	1180	$2,800	$2.37	45d	1	0.92mi
11 Huber Ave Middletown, CT	3.0	1.0	1102	$2,300	$2.09	25d	1	1.23mi

Listing history 28 events

1. 2026-06-21
   pricedays on market $329,900 Active 83 DOM
2. 2026-06-18
   days on market $335,000 Active 80 DOM
3. 2026-06-17
   days on market $335,000 Active 79 DOM
4. 2026-06-16
   pricedays on market $335,000 Active 78 DOM
5. 2026-06-15
   days on market $339,000 Active 77 DOM
6. 2026-06-13
   days on market $339,000 Active 75 DOM
7. 2026-06-13
   days on market $339,000 Active 74 DOM
8. 2026-06-10
   days on market $339,000 Active 72 DOM
9. 2026-06-09
   days on market $339,000 Active 71 DOM
10. 2026-06-08
    days on market $339,000 Active 70 DOM
11. 2026-06-07
    days on market $339,000 Active 69 DOM
12. 2026-06-03
    days on market $339,000 Active 65 DOM
13. 2026-06-02
    days on market $339,000 Active 64 DOM
14. 2026-06-01
    pricedays on market $339,000 Active 63 DOM
15. 2026-05-31
    days on market $349,999 Active 62 DOM
16. 2026-05-11
    price $364,900 426-char remark

    Show marketing remark (426 chars)

    Seller willing to offer closing cost credit. Beautifully updated home featuring a fully finished lower-level in-law apartment with its own entrance, kitchen, and living space - perfect for rental income or multigenerational living. Offset your mortgage or create a flexible dual-living setup in one of Middletown's most convenient locations. Recently updated kitchen and baths. Huge driveway with plenty of off street parking.

17. 2026-04-22
    price $371,900 426-char remark

    Show marketing remark (426 chars)

    Seller willing to offer closing cost credit. Beautifully updated home featuring a fully finished lower-level in-law apartment with its own entrance, kitchen, and living space - perfect for rental income or multigenerational living. Offset your mortgage or create a flexible dual-living setup in one of Middletown's most convenient locations. Recently updated kitchen and baths. Huge driveway with plenty of off street parking.

18. 2026-04-13
    price $376,900 426-char remark

    Show marketing remark (426 chars)

    Seller willing to offer closing cost credit. Beautifully updated home featuring a fully finished lower-level in-law apartment with its own entrance, kitchen, and living space - perfect for rental income or multigenerational living. Offset your mortgage or create a flexible dual-living setup in one of Middletown's most convenient locations. Recently updated kitchen and baths. Huge driveway with plenty of off street parking.

19. 2026-04-06
    price $384,900 426-char remark

    Show marketing remark (426 chars)

    Seller willing to offer closing cost credit. Beautifully updated home featuring a fully finished lower-level in-law apartment with its own entrance, kitchen, and living space - perfect for rental income or multigenerational living. Offset your mortgage or create a flexible dual-living setup in one of Middletown's most convenient locations. Recently updated kitchen and baths. Huge driveway with plenty of off street parking.

20. 2026-03-31
    listed $389,900 Active 426-char remark

    Show marketing remark (426 chars)

    Seller willing to offer closing cost credit. Beautifully updated home featuring a fully finished lower-level in-law apartment with its own entrance, kitchen, and living space - perfect for rental income or multigenerational living. Offset your mortgage or create a flexible dual-living setup in one of Middletown's most convenient locations. Recently updated kitchen and baths. Huge driveway with plenty of off street parking.

21. 2026-03-27
    historical $389,900 426-char remark

    Show marketing remark (426 chars)

    Seller willing to offer closing cost credit. Beautifully updated home featuring a fully finished lower-level in-law apartment with its own entrance, kitchen, and living space - perfect for rental income or multigenerational living. Offset your mortgage or create a flexible dual-living setup in one of Middletown's most convenient locations. Recently updated kitchen and baths. Huge driveway with plenty of off street parking.

22. 2026-01-06
    soldstatus $230,000 Closed 655-char remark

    Show marketing remark (655 chars)

    Diamond in the rough! This solid 1953 ranch offers endless potential with a flexible layout and income possibilities. The main level features three bedrooms and one full bath, while the walk-out lower level includes an in-law style suite with its own bedroom, full bath, and private entrance - perfect for extended family, guests, or future rental income. Nestled on a quiet horseshoe street and set on nearly a quarter acre, this home offers a peaceful setting with convenient access to local amenities. Bring your imagination to revive this well-built classic home and make it shine once again. With the right vision, this property could truly be a gem!

23. 2026-01-06
    soldstatus $230,000 Closed

    Show marketing remark (655 chars)

    Diamond in the rough! This solid 1953 ranch offers endless potential with a flexible layout and income possibilities. The main level features three bedrooms and one full bath, while the walk-out lower level includes an in-law style suite with its own bedroom, full bath, and private entrance - perfect for extended family, guests, or future rental income. Nestled on a quiet horseshoe street and set on nearly a quarter acre, this home offers a peaceful setting with convenient access to local amenities. Bring your imagination to revive this well-built classic home and make it shine once again. With the right vision, this property could truly be a gem!

24. 2025-12-05
    status Under Contract 655-char remark

    Show marketing remark (655 chars)

    Diamond in the rough! This solid 1953 ranch offers endless potential with a flexible layout and income possibilities. The main level features three bedrooms and one full bath, while the walk-out lower level includes an in-law style suite with its own bedroom, full bath, and private entrance - perfect for extended family, guests, or future rental income. Nestled on a quiet horseshoe street and set on nearly a quarter acre, this home offers a peaceful setting with convenient access to local amenities. Bring your imagination to revive this well-built classic home and make it shine once again. With the right vision, this property could truly be a gem!

25. 2025-12-05
    status Under Contract

    Show marketing remark (655 chars)

    Diamond in the rough! This solid 1953 ranch offers endless potential with a flexible layout and income possibilities. The main level features three bedrooms and one full bath, while the walk-out lower level includes an in-law style suite with its own bedroom, full bath, and private entrance - perfect for extended family, guests, or future rental income. Nestled on a quiet horseshoe street and set on nearly a quarter acre, this home offers a peaceful setting with convenient access to local amenities. Bring your imagination to revive this well-built classic home and make it shine once again. With the right vision, this property could truly be a gem!

26. 2025-11-12
    listed $249,900 Active 655-char remark

    Show marketing remark (655 chars)

    Diamond in the rough! This solid 1953 ranch offers endless potential with a flexible layout and income possibilities. The main level features three bedrooms and one full bath, while the walk-out lower level includes an in-law style suite with its own bedroom, full bath, and private entrance - perfect for extended family, guests, or future rental income. Nestled on a quiet horseshoe street and set on nearly a quarter acre, this home offers a peaceful setting with convenient access to local amenities. Bring your imagination to revive this well-built classic home and make it shine once again. With the right vision, this property could truly be a gem!

27. 2025-11-12
    listed $249,900 Active

    Show marketing remark (655 chars)

    Diamond in the rough! This solid 1953 ranch offers endless potential with a flexible layout and income possibilities. The main level features three bedrooms and one full bath, while the walk-out lower level includes an in-law style suite with its own bedroom, full bath, and private entrance - perfect for extended family, guests, or future rental income. Nestled on a quiet horseshoe street and set on nearly a quarter acre, this home offers a peaceful setting with convenient access to local amenities. Bring your imagination to revive this well-built classic home and make it shine once again. With the right vision, this property could truly be a gem!

28. 1993-12-17
    soldstatus $106,000

ⓘ 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: $4,263 · $355/mo
• Projected year-2 tax: $5,661 · $472/mo
• Expected delta: +$1,398/yr (+$117/mo · 32.8%)

ⓘ 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 6/10 Major 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,522
• − Mortgage interest: −$18,480
• − Property taxes: −$4,263
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,522
• − Management: −$2,522
• − Depreciation: −$9,597
• Taxable loss: −$7,511
• Est. tax savings @ 24.0%: +$1,803
• After-tax cash flow: $32/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: Middletown School District
• NCES district ID: 0902490
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $60,733
• Composite: 30.47/100
• National rank: #6224
• State rank: #113 of 153 in CT

Livability — Middletown

• Score: 81/100
• State rank: #17
• US rank: #1390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, CT
• County: Middlesex County · 63,941 people
• City population: 46,720
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 46,720
• Household income: $79,463
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 2196.0

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 13% Hispanic / Latino 12% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7%
• Common ancestry: Romanian 9% Lithuanian 5% Slovak 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -470.20%
• Current HPI: 255.1597
• Rent YoY: ▲ 0.22%
• 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

+244.2% since first listed

13 events — show timeline

• 2026-05-11 Price Changed $364,900 Smart MLS
• 2026-04-22 Price Changed $371,900 Smart MLS
• 2026-04-13 Price Changed $376,900 Smart MLS
• 2026-04-06 Price Changed $384,900 Smart MLS
• 2026-03-31 Listed $389,900 Smart MLS
• 2026-03-27 Coming Soon $389,900 Smart MLS
• 2026-01-06 Sold (MLS) $230,000 Smart MLS
• 2026-01-06 Sold (MLS) $230,000 Smart MLS
• 2025-12-05 Pending — Smart MLS
• 2025-12-05 Pending — Smart MLS
• 2025-11-12 Listed $249,900 Smart MLS
• 2025-11-12 Listed $249,900 Smart MLS
• 1993-12-17 Sold (Public Records) $106,000 Public Records

Property tax history

+0.7%/yr

Latest (2022): $4,263 · +0.4% YoY. Source: county tax records.