40 Allen Pl · Hartford, CT 06106

$579,999

5 bd · 30.0 ba · 4,974 sqft · MultiFamily public records · 24 Days on market

Built 1920 0.31 ac 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 5 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

Gracious building hosting 4 1br units & 1 2br. Natural woodwork thru-out decortive marble fireplaces, high ceilings, hw floors. 2Br unit is town- house style w/spiral staircase & 2 full bath. All are modern/updated.

Key facts

• Three heating zones
• Generous storage
• Historic character

Tags

• MULTIFAMILY OPPORTUNITY
• HISTORIC CHARACTER
• HARDWOOD FLOORS
• GENEROUS STORAGE
• PRIVATE OFF-STREET PARKING
• THREE HEATING ZONES

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (5+ units)
• Construction: Asphalt shingle gable roof; Brick and stone foundation; Other construction
• Exterior features: Level lot; Wood siding

Interior

• Kitchen:
• Bedrooms: Nine bedrooms
• Flooring:
• Bathrooms: Six full bathrooms
• Heating & cooling: Hot water heating; Heating powered by electric and natural gas; Window unit cooling
• Interior features: 22 total rooms; Full basement; Four fireplaces; Home automation includes smart locks and thermostats; Window unit cooling
• Laundry & utility: Basement laundry with washer and dryer hook-ups

What this means for you Summary

Snapshot

• This is a 5 × 9-bed/6.0-bath units multifamily listed at $580k.

Deal economics

• At list price, monthly cash flow is $5k ($54k/yr) — positive. Per door: $905/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $580k).
• Recommended offer: $571k (1.5% 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: 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.
• Zoned schools: Kennelly School (math 7% / reading 12%, grade F, #522 of 553 statewide, top 95%, 598 students, 85% FRL); Mcdonough Middle School (math 0% / reading 6%, grade F, #175 of 175 statewide, top 100%, 317 students, 83% FRL) — zoned schools at 84% FRL track the district average.
• Market conditions: Rents rising (+2.4%/yr); 61 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $11,390/mo this rent would consume 295% 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 $12k of equity ($4k loan paydown + $8k appreciation (1.4% local appreciation)).
• At projected returns (1.4% appreciation + 2.4% rent growth), your $162k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($571k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y 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 $227k; list at $580k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $571,299 (1.5% below list)

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 1920 — 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. 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?
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: 1.96% ✓
• Cap rate: 15.65%
• Cash-on-cash: 33.42%
• DSCR: 2.49
• GRM: 4.2

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: 35.9%
• Equity multiple: 2.87×
• Total profit: $302,935
• Equity at exit: $209,413

10-year hold

• IRR: 37.3%
• Equity multiple: 5.49×
• Total profit: $729,864
• Equity at exit: $287,337

Cash invested: $162,400 (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: 61
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $11,390 medium
• Mortgage (P&I): −$3,042
• Tax from tax record: −$1,192 /mo · $14,301/yr
• Insurance: −$242
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,392
• Net cashflow: $4,523

Break-even live

Break-even rent $5,665

Max offer price $579,999

Occupancy floor 55%

Sensitivity live

Price	-10% $4,851	-5% $4,687	+0% $4,523	+5% $4,359	+10% $4,195
Rent	-10% $3,623	-5% $4,073	+0% $4,523	+5% $4,973	+10% $5,423
Rate	-1.0pp $4,815	-0.5pp $4,671	base $4,523	+0.5pp $4,373	+1.0pp $4,220

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

Units	Beds	Baths	Est. rent
▸ 5× units	9	6	$11,390
Total (5 units)			$11,390

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: $145,000
• Closing costs: $17,400
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-08
   days on market $579,999 Active 24 DOM
2. 2026-06-07
   days on market $579,999 Active 23 DOM
3. 2026-06-05
   days on market $579,999 Active 20 DOM
4. 2026-06-03
   days on market $579,999 Active 19 DOM
5. 2026-06-02
   days on market $579,999 Active 18 DOM
6. 2026-06-01
   days on market $579,999 Active 17 DOM
7. 2026-05-31
   days on market $579,999 Active 16 DOM
8. 2026-05-11
   listed $579,999 Active 1070-char remark
9. 2003-11-19
   soldstatus $227,000
10. 2003-11-14
    soldstatus $227,000 223-char remark

    Show marketing remark (223 chars)

    Gracious building hosting 4 1br units & 1 2br. Natural woodwork thru-out decortive marble fireplaces, high ceilings, hw floors. 2Br unit is town- house style w/spiral staircase & 2 full bath. All are modern/updated.

11. 2003-04-10
    listed $227,000 223-char remark

    Show marketing remark (223 chars)

    Gracious building hosting 4 1br units & 1 2br. Natural woodwork thru-out decortive marble fireplaces, high ceilings, hw floors. 2Br unit is town- house style w/spiral staircase & 2 full bath. All are modern/updated.

ⓘ 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: $14,301 · $1,192/mo
• Projected year-2 tax: $14,301 · $1,192/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $136,680
• − Mortgage interest: −$32,489
• − Property taxes: −$14,301
• − Insurance: −$2,900
• − Repairs & maintenance: −$10,934
• − Management: −$10,934
• − Depreciation: −$16,873
• Taxable income: $48,249
• Est. tax owed @ 24.0%: −$11,580
• After-tax cash flow: $42,698/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

+155.5% since first listed

5 events — show timeline

• 2026-06-09 Listing Removed — Smart MLS
• 2026-05-11 Listed $579,999 Smart MLS
• 2003-11-19 Sold (Public Records) $227,000 Public Records
• 2003-11-14 Sold (MLS) $227,000 Smart MLS
• 2003-04-10 Listed $227,000 Smart MLS

Property tax history

+5.6%/yr

Latest (2025): $14,301 · +0.0% YoY. Source: county tax records.