48 Amherst St · Hartford, CT 06114

$249,900

3 bd · 1.5 ba · 1,428 sqft · SingleFamily public records · 35 Days on market

Built 1957 7,405 sqft lot $175/sqft · 39% below area Est $408k · 39% 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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• Appreciation +10.0/10.0
• DSCR +4.3/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks

* Best & Final offers due by Thursday, 5/14 at 11:59pm * Charming cape in a desirable Southwest Hartford neighborhood, ready for your vision. This home has already benefited from major exterior and mechanical upgrades, including a new roof and vinyl siding (2021), gas furnace (2015), new electrical panel (2026), and updated vinyl windows - a solid head start for anyone looking to focus on interior improvements. Inside, the home is primed for cosmetic updates that will transform it into a turn key property. It's an excellent opportunity for investors seeking a flip in a value supported neighborhood or owner occupants wanting to build sweat equity. The classic cape layout features a li

Key facts

• Gas furnace
• Vinyl siding
• New electrical panel

Tags

• NEW ROOF
• VINYL SIDING
• GAS FURNACE
• NEW ELECTRICAL PANEL
• UPDATED VINYL WINDOWS
• PATIO

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas hot water
• Home design: Single-family home
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Vinyl siding; Built (year not provided)
• Exterior features: Shed; Patio; Lightly wooded, level lot

Interior

• Kitchen: Cooktop; Wall oven; Range hood
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating (natural gas)
• Interior features: Ceiling fans; Full, unfinished basement with interior access, sump pump and hatchway
• Laundry & utility: Washer and dryer in lower level / basement laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $41 ($494/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (8.3% below list).
• Recommended offer: $229k (8.3% below list) — sets the bar for 1% rule.

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 (+1.5%/yr); 54 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $2,292/mo this rent would consume 53% of the median local household income ($52k/yr) (locally 1897% 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 $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 1.5% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $229,238 (8.3% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.71%
• DSCR: 1.03
• GRM: 9.1

CMA / ARV

• ARV (median comp): $408,204
• List price: $249,900
• Delta: -38.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Ridge Crest Cir	0.71mi	3/2.5	1,318 (-8%)	4mo	$420,000	$319	46
159 Ridge Rd	0.63mi	3/1.5	1,288 (-10%)	13mo	$312,000	$242	43

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 · 1.47% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.93×
• Total profit: $135,310
• Equity at exit: $225,130

10-year hold

• IRR: 21.1%
• Equity multiple: 6.57×
• Total profit: $389,902
• Equity at exit: $485,501

Cash invested: $69,972 (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 06114

• Home prices YoY: 4.7%
• Rents YoY: 1.5%
• Active inventory: 54
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,292 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$355 /mo · $4,262/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $41

Break-even live

Break-even rent $2,240

Max offer price $249,900

Occupancy floor 93%

Sensitivity live

Price	-10% $183	-5% $112	+0% $41	+5% $-30	+10% $-100
Rent	-10% $-140	-5% $-49	+0% $41	+5% $132	+10% $222
Rate	-1.0pp $167	-0.5pp $105	base $41	+0.5pp $-24	+1.0pp $-89

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
452 Hillside Ave Hartford, CT	4.0	1.0	1233	$2,700	$2.19	24d	1	0.66mi
3 Goshen St Hartford, CT	3.0	1.0	1168	$2,100	$1.80	2d	1	0.85mi
72 Folly Brook Blvd Wethersfield, CT	2.0	1.0	900	$1,875	$2.08	16d	2	0.85mi
79 Village Dr Wethersfield, CT	1.0–2.0	1.0–2.0	1002	$2,688	$2.68	2d	13	1.00mi

Listing history 12 events

1. 2026-06-13
   status $249,900 Under Contract 35 DOM
2. 2026-06-10
   days on market $249,900 Under Contract - Continue to Show 35 DOM
3. 2026-06-09
   days on market $249,900 Under Contract - Continue to Show 34 DOM
4. 2026-06-08
   days on market $249,900 Under Contract - Continue to Show 33 DOM
5. 2026-06-07
   days on market $249,900 Under Contract - Continue to Show 32 DOM
6. 2026-06-05
   days on market $249,900 Under Contract - Continue to Show 29 DOM
7. 2026-06-03
   days on market $249,900 Under Contract - Continue to Show 28 DOM
8. 2026-06-02
   days on market $249,900 Under Contract - Continue to Show 27 DOM
9. 2026-06-01
   days on market $249,900 Under Contract - Continue to Show 26 DOM
10. 2026-05-31
    days on market $249,900 Under Contract - Continue to Show 25 DOM
11. 2026-05-17
    historical Under Contract - Continue to Show 1420-char remark
12. 2026-05-06
    listed $249,900 Active 1420-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: $4,262 · $355/mo
• Projected year-2 tax: $4,805 · $400/mo
• Expected delta: +$543/yr (+$45/mo · 12.7%)

ⓘ 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 (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°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: $27,509
• − Mortgage interest: −$13,998
• − Property taxes: −$4,262
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,201
• − Management: −$2,201
• − Depreciation: −$7,270
• Taxable loss: −$3,672
• Est. tax savings @ 24.0%: +$881
• After-tax cash flow: $1,376/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): 26,458
• Household income: $52,110
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 1897.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 60% White 19% Black 19% Two or more races 10% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 36% Dominican 6%
• Common ancestry: American 6% Romanian 1% Lithuanian 1%
• Foreign-born: 31% · Canada, Jamaica
• Languages at home: 36% English-only · Spanish 49% Russian/Polish/Slavic 8% Other Indo-European 4%

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: ▲ 16.02%
• Current HPI: 356.5892
• Rent YoY: ▲ 1.47%
• 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

3 events — show timeline

• 2026-06-10 Pending — Smart MLS
• 2026-05-17 Contingent — Smart MLS
• 2026-05-06 Listed $249,900 Smart MLS

Property tax history

+3.0%/yr

Latest (2025): $4,262 · +0.0% YoY. Source: county tax records.