497 PROSPECT Ave · West Hartford, CT 06105

$700,000

6 bd · 3.0 ba · 4,413 sqft · MultiFamily public records · 1 Days on market

Built 1924 7,405 sqft lot Est $772k · 9% 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 +20.2/30.0
• ARV discount +11.7/15.0
• DSCR +6.4/10.0
• 1% rule +5.8/10.0
• Schools +5.6/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Call your investors! Best in class multi-family turnkey, excellent rental history, prime location, minutes to blue back square great opportunity for owner occupied.

Key facts

• 7,405 sq ft lot
• 3 garage spots
• Built 1924

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $886 ($11k/yr) — positive. Per door: $295/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $700k).
• Cap rate 7.8% vs local median 3.3% in West Hartford — 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 79/100 on livability (#27 in CT, #1,989 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: amenities F, cost of living F.
• West Hartford School District (urban): math 56% / reading 67% proficiency, ranked #39 of 153 in CT (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+6.7%/yr); 47 active listings in the ZIP; lower-income renter base — watch delinquency; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $7,575/mo this rent would consume 217% of the median local household income ($42k/yr) (locally 2389% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $196k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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 $389k; list at $700k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $700,000

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 1924 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.08% ✓
• Cap rate: 7.81%
• Cash-on-cash: 5.42%
• DSCR: 1.24
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $772,275
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
49-51 Maplewood Ave	0.63mi	7/3.0 (+1)	4,036 (-8%)	13mo	$705,000	$175	40
97-99 Maplewood Ave	0.64mi	7/5.0 (+1)	4,068 (-8%)	14mo	$746,500	$184	33
19 Thomas St	0.67mi	6/3.0	3,756 (-15%)	19mo	$655,000	$174	28
28 Quaker Ln S	0.71mi	7/3.0 (+1)	3,804 (-14%)	22mo	$550,000	$145	21

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 · 6.73% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-27,262
• Equity at exit: $104,372

10-year hold

• IRR: 10.1%
• Equity multiple: 1.92×
• Total profit: $180,697
• Equity at exit: $60,523

Cash invested: $196,000 (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 06105

• Home prices YoY: -25.6%
• Rents YoY: 6.7%
• Active inventory: 47
• Price-to-rent: 23.1×

Monthly cashflow live

• Estimated rent: $7,575 high
• Mortgage (P&I): −$3,671
• Tax from tax record: −$1,136 /mo · $13,634/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,591
• Net cashflow: $886

Break-even live

Break-even rent $6,454

Max offer price $700,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$7,575
Total (3 units)			$7,575

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: $175,000
• Closing costs: $21,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-20
   status Under Contract
2. 2026-05-18
   listed $700,000 Active
3. 2014-04-14
   soldstatus $389,000
4. 2014-04-10
   soldstatus $389,000 170-char remark

   Show marketing remark (170 chars)

   Call your investors! Best in class multi-family turnkey, excellent rental history, prime location, minutes to blue back square great opportunity for owner occupied.

5. 2013-10-30
   listed $389,000 170-char remark

   Show marketing remark (170 chars)

   Call your investors! Best in class multi-family turnkey, excellent rental history, prime location, minutes to blue back square great opportunity for owner occupied.

6. 2010-03-25
   historical
7. 2009-11-24
   listed $439,900

ⓘ 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: $13,634 · $1,136/mo
• Projected year-2 tax: $14,307 · $1,192/mo
• Expected delta: +$673/yr (+$56/mo · 4.9%)

ⓘ 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: $90,900
• − Mortgage interest: −$39,211
• − Property taxes: −$13,634
• − Insurance: −$3,500
• − Repairs & maintenance: −$7,272
• − Management: −$7,272
• − Depreciation: −$20,364
• Taxable loss: −$353
• Est. tax savings @ 24.0%: +$85
• After-tax cash flow: $10,711/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: West Hartford School District
• NCES district ID: 0904920
• Math proficiency: 56% ▼ -6.00%
• Reading proficiency: 67% ▼ -5.00%
• Median HH income: $85,173
• Composite: 55.64/100
• National rank: #1228
• State rank: #39 of 153 in CT

Livability — West Hartford

• Score: 79/100
• State rank: #27
• US rank: #1989

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Hartford, CT
• County: Hartford County · 754,208 people
• City population: 63,441
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 19,174
• Household income: $41,937
• Rent vs Own: 80.7% rent · 19.3% own
• Severe rent burden: 2389.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 39% White 28% Hispanic / Latino 26% Two or more races 14% Asian 2%
• Hispanic origin (detail): Puerto Rican 18% Cuban 1% Dominican 3%
• Common ancestry: Romanian 3% Lithuanian 2% Estonian 1%
• Foreign-born: 20% · Canada, United Kingdom
• Languages at home: 74% English-only · Spanish 18% Other Indo-European 3% French/Haitian/Cajun 2%

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: ▼ -59.58%
• Current HPI: 173.3602
• Rent YoY: ▲ 6.73%
• 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

+59.1% since first listed

7 events — show timeline

• 2026-05-20 Pending — Smart MLS
• 2026-05-18 Listed $700,000 Smart MLS
• 2014-04-14 Sold (Public Records) $389,000 Public Records
• 2014-04-10 Sold (MLS) $389,000 Smart MLS
• 2013-10-30 Listed $389,000 Smart MLS
• 2010-03-25 Listing Removed — Smart MLS
• 2009-11-24 Listed $439,900 Smart MLS

Property tax history

+3.5%/yr

Latest (2025): $13,634 · +5.7% YoY. Source: county tax records.