48 Dewey St · Torrington, CT 06790

$319,900

4 bd · 2.0 ba · 2,408 sqft · MultiFamily public records · 10 Days on market

Built 1900 7,840 sqft lot $133/sqft · 8% below area Est $348k · 8% 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).

• Cash flow +23.6/30.0
• ARV discount +11.1/15.0
• DSCR +7.6/10.0
• 1% rule +5.9/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Schools +2.7/10.0
• 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: 2 units. confirmed

Listing remarks

Come check out this 2-family home located in a desirable residential neighborhood on a well-maintained level lot. This long-term fully occupied investment property features stable tenants with pride of occupancy, a newer 40-year roof approximately 10 years old, detached garage, and a spacious yard situated on a quiet cul-de-sac with lovely, established gardens. The additional 3rd-floor space offers flexibility for a variety of uses. Excellent opportunity for owner-occupants or investors seeking strong future upside potential. Conveniently located near shopping, restaurants, parks, and major routes. First floor- gas, baseboard hot water, furnace in the basement Second floor- gas, forced hot

Key facts

• 7,840 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached garage; Driveway; Total of 6 parking spaces; 1 garage
• Utilities: Public water connected; Public sewer connected; Natural gas
• Home design: Multi-family (2-family) property
• Construction: Frame construction; Vinyl siding; Asphalt shingle roof; Concrete and stone foundation
• Exterior features: Level lot; Paved driveway

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Wall unit cooling; Baseboard heating; Hot air heating; Hot water heating; Natural gas hot water and heat fuel
• Interior features: 12 total rooms; Full, unfinished basement; Walk-up attic
• Laundry & utility: Laundry in basement with basement hook-ups

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $320k.

Deal economics

• At list price, monthly cash flow is $600 ($7k/yr) — positive. Per door: $300/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $320k).
• Cap rate 8.5% vs local median 3.9% in Torrington — 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 76/100 on livability (#53 in CT, #3,449 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Torrington School District (town): math 22% / reading 39% proficiency, ranked #125 of 153 in CT (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Vogel-Wetmore School (math 27% / reading 27%, grade F, #401 of 553 statewide, top 74%, 532 students, 66% FRL); Torrington High School (math 22% / reading 47%, grade F, #121 of 194 statewide, top 64%, 1,010 students, 57% FRL) — zoned schools average 62% FRL vs 40% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.9%/yr); 188 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• At $3,472/mo this rent would consume 59% of the median local household income ($71k/yr) (locally 1401% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $90k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; moderate wind risk, 26% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $319,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.09% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.04%
• DSCR: 1.36
• GRM: 7.7

CMA / ARV

• ARV (median comp): $347,967
• List price: $319,900
• Delta: -8.07%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 Dale St	0.14mi	4/2.0	2,419 (+0%)	20mo	$350,000	$145	76
69 McGuinness St	0.29mi	4/2.0	2,244 (-7%)	4mo	$341,000	$152	72
253 Riverside Ave	0.19mi	5/3.0 (+1)	2,290 (-5%)	4mo	$349,900	$153	70
45 Cherry St	0.22mi	4/2.0	2,260 (-6%)	21mo	$350,000	$155	62
860 Migeon Ave	0.55mi	4/2.0	2,384 (-1%)	18mo	$330,000	$138	57
20 North St	0.52mi	5/3.0 (+1)	2,340 (-3%)	13mo	$338,000	$144	51
31 Norfolk St	0.37mi	5/3.0 (+1)	2,333 (-3%)	22mo	$290,000	$124	50
25 Lorenzo St	0.73mi	5/2.0 (+1)	2,496 (+4%)	8mo	$255,000	$102	49
46 Pulaski St	0.29mi	5/3.0 (+1)	2,666 (+11%)	16mo	$380,000	$143	46
78 Maplewood Ave	0.60mi	4/2.0	2,184 (-9%)	18mo	$355,000	$163	41
110 E Elm St	0.72mi	5/2.0 (+1)	2,678 (+11%)	9mo	$350,000	$131	35
382 Main St	0.66mi	4/2.0	2,076 (-14%)	19mo	$330,000	$159	30

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

Projected returns pro-forma

-3.0% appreciation · 5.89% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-3,204
• Equity at exit: $47,698

10-year hold

• IRR: 11.5%
• Equity multiple: 2.02×
• Total profit: $91,718
• Equity at exit: $27,659

Cash invested: $89,572 (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 06790

• Rents YoY: 5.9%
• Active inventory: 188
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,472 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$332 /mo · $3,980/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$729
• Net cashflow: $600

Break-even live

Break-even rent $2,712

Max offer price $319,900

Occupancy floor 78%

Sensitivity live

Price	-10% $781	-5% $691	+0% $600	+5% $510	+10% $419
Rent	-10% $326	-5% $463	+0% $600	+5% $737	+10% $875
Rate	-1.0pp $761	-0.5pp $682	base $600	+0.5pp $517	+1.0pp $433

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,472
Total (2 units)			$3,472

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70 Woodbine St Unit 1 Torrington, CT	3.0	1.0	3120	$1,800	$0.58	44d	1	0.14mi
70 Woodbine St Unit 2 Torrington, CT	3.0	1.0	3120	$1,700	$0.54	44d	1	0.14mi
66 Forest Ct Torrington, CT	4.0	1.5	3328	$2,500	$0.75	44d	1	0.28mi
163 Beechwood Ave Torrington, CT	4.0	2.0	1896	$2,800	$1.48	44d	1	0.68mi
14 Culvert St Unit 2 Torrington, CT	4.0	1.0	1638	$1,695	$1.03	44d	1	0.69mi
58 E Pearl St Torrington, CT	4.0	2.0	2588	$2,300	$0.89	44d	1	0.77mi
20 Taylor St Torrington, CT	3.0	1.0	2614	$1,700	$0.65	44d	1	1.16mi
18 Taylor St Torrington, CT	3.0	1.0	2614	$1,700	$0.65	44d	1	1.17mi

Listing history 2 events

1. 2026-05-15
   listed $319,900 Active 697-char remark
2. 2026-05-11
   historical $319,900 697-char remark

ⓘ 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: $3,980 · $332/mo
• Projected year-2 tax: $5,413 · $451/mo
• Expected delta: +$1,433/yr (+$119/mo · 36.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 69% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥93°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,664
• − Mortgage interest: −$17,919
• − Property taxes: −$3,980
• − Insurance: −$1,600
• − Repairs & maintenance: −$3,333
• − Management: −$3,333
• − Depreciation: −$9,306
• Taxable income: $2,193
• Est. tax owed @ 24.0%: −$526
• After-tax cash flow: $6,678/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: Torrington School District
• NCES district ID: 0904590
• Math proficiency: 22% ▼ -8.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $53,647
• Composite: 26.9/100
• National rank: #7087
• State rank: #125 of 153 in CT

Livability — Torrington

• Score: 76/100
• State rank: #53
• US rank: #3449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Torrington, CT
• County: Litchfield County · 81,203 people
• City population: 35,566
• Metro: Torrington, CT
• Population (ZIP): 35,566
• Household income: $70,912
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1401.0

Population outlook (Northwest Hills County) Hauer SSP2

• By 2040: 118,998

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 14% Two or more races 8% Black 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 5% Dominican 2%
• Common ancestry: Romanian 8% Lithuanian 5% Slovak 2%
• Foreign-born: 12% · Canada, South Korea, Jamaica
• Languages at home: 86% English-only · Spanish 8% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Northwest Hills

• 2024 margin: Toss-up / Even · D 48.6% · R 49.9% · Other 1.6%
• All cycles: 2024: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.78%
• Current HPI: 208.4818
• Rent YoY: ▲ 5.89%
• Metro: Torrington, 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

+0.0% since first listed

3 events — show timeline

• 2026-05-24 Pending — Smart MLS
• 2026-05-15 Listed $319,900 Smart MLS
• 2026-05-11 Coming Soon $319,900 Smart MLS

Property tax history

+0.6%/yr

Latest (2023): $3,980 · +1.7% YoY. Source: county tax records.