57 Workman Ave · Torrington, CT 06790

$369,900

6 bd · 2.0 ba · 2,419 sqft · MultiFamily public records · 45 Days on market

Built 1900 8,712 sqft lot $153/sqft · 18% above area Est $313k · 18% over

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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 +23.8/30.0
• DSCR +7.7/10.0
• 1% rule +5.8/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Rarely does an opportunity like this come along! 57 Workman presents an exceptional chance for investors and owner occupants alike, offering a well maintained two family home with strong income potential and everyday practicality in a convenient location. One unit features 2 floors and 4 comfortable bedrooms and one full bathroom, While the other unit has 3 bedrooms and one bathroom providing generous living space for occupants. Both units enjoy their own inviting front porch, perfect for relaxing and enjoying the outdoors. The great level yard offers plenty of open space for outdoor activities and enjoyment, while the detached two car garage and ample parking add tremendous convenience for

Key facts

• Level yard
• Inviting front porch
• Ample parking

Tags

• INVITING FRONT PORCH
• LEVEL YARD
• DETACHED TWO CAR GARAGE
• AMPLE PARKING
• CONVENIENT LOCATION

Property features AI

Exterior

• Parking: Detached garage; 2-car garage; Driveway parking; Total of 6 parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family 2-family property
• Construction: Frame construction; Stone foundation; Asphalt shingle roof; Vinyl siding
• Exterior features: Sidewalk; Shed; Gutters; Exterior lighting; Lightly wooded lot; Paved driveway; Off-street parking

Interior

• Bedrooms: 7 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Natural gas hot water (40-gallon tank)
• Interior features: 12 total rooms; Full basement with storage and hatchway; Attic with floored storage accessed via hatch

What this means for you Summary

Snapshot

• This is a 1×4bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $370k.

Deal economics

• At list price, monthly cash flow is $712 ($9k/yr) — positive. Per door: $356/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $370k).
• Recommended offer: $359k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.0% 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 Middle School (math 18% / reading 39%, grade F, #146 of 175 statewide, top 84%, 975 students, 61% 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); 190 active listings in the ZIP; 154 units permitted in Northwest Hills Planning Region in 2024 (6 in 5+ unit buildings).
• At $3,996/mo this rent would consume 68% 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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $104k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($359k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $115k; list at $370k implies a 222% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $358,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.08% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.25%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

• ARV (median comp): $313,052
• List price: $369,900
• Delta: 18.16%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
52 Workman Ave	0.02mi	6/2.0	2,399 (-1%)	1mo	$370,000	$154	97
253 Riverside Ave	0.23mi	5/3.0 (-1)	2,290 (-5%)	4mo	$349,900	$153	68
114 Pulaski St	0.46mi	6/2.0	2,357 (-3%)	10mo	$330,000	$140	66
58 Woodbine St	0.25mi	6/2.0	2,178 (-10%)	9mo	$355,000	$163	64
41 Norwood St	0.52mi	6/3.0	2,280 (-6%)	10mo	$380,000	$167	54
231 Beechwood Ave	0.42mi	6/2.5	2,072 (-14%)	4mo	$233,000	$112	51
64 Pine St	0.65mi	6/2.5	2,621 (+8%)	10mo	$359,500	$137	46
20 North St	0.70mi	5/3.0 (-1)	2,340 (-3%)	13mo	$338,000	$144	42
152 Turner Ave	0.67mi	6/3.0	2,661 (+10%)	10mo	$330,000	$124	40
370 High St	0.69mi	5/3.0 (-1)	2,302 (-5%)	17mo	$359,000	$156	37
39 Munson Ave	0.60mi	6/3.0	2,700 (+12%)	15mo	$315,000	$117	37
46 Pulaski St	0.53mi	5/3.0 (-1)	2,666 (+10%)	16mo	$380,000	$143	36

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-2,645
• Equity at exit: $55,153

10-year hold

• IRR: 11.8%
• Equity multiple: 2.04×
• Total profit: $108,114
• Equity at exit: $31,982

Cash invested: $103,572 (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: 190
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $3,996 high
• Mortgage (P&I): −$1,940
• Tax from tax record: −$351 /mo · $4,211/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$839
• Net cashflow: $712

Break-even live

Break-even rent $3,095

Max offer price $369,900

Occupancy floor 77%

Sensitivity live

Price	-10% $921	-5% $817	+0% $712	+5% $607	+10% $503
Rent	-10% $396	-5% $554	+0% $712	+5% $870	+10% $1,028
Rate	-1.0pp $898	-0.5pp $806	base $712	+0.5pp $616	+1.0pp $519

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

Units	Beds	Baths	Est. rent
1× unit	4	1	$2,117
1× unit	3	1	$1,879
Total (2 units)			$3,996

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $369,900 Active 45 DOM
2. 2026-06-19
   days on market $369,900 Active 43 DOM
3. 2026-06-18
   days on market $369,900 Active 42 DOM
4. 2026-06-17
   days on market $369,900 Active 41 DOM
5. 2026-06-16
   days on market $369,900 Active 40 DOM
6. 2026-06-15
   days on market $369,900 Active 39 DOM
7. 2026-06-14
   days on market $369,900 Active 37 DOM
8. 2026-06-13
   days on market $369,900 Active 36 DOM
9. 2026-06-10
   days on market $369,900 Active 34 DOM
10. 2026-06-09
    days on market $369,900 Active 33 DOM
11. 2026-06-08
    days on market $369,900 Active 32 DOM
12. 2026-06-07
    days on market $369,900 Active 31 DOM
13. 2026-06-05
    days on market $369,900 Active 28 DOM
14. 2026-06-03
    days on market $369,900 Active 27 DOM
15. 2026-06-02
    days on market $369,900 Active 26 DOM
16. 2026-06-01
    days on market $369,900 Active 25 DOM
17. 2026-05-31
    days on market $369,900 Active 24 DOM
18. 2026-05-30
    days on market $369,900 Active 23 DOM
19. 2026-05-13
    price $369,900 1194-char remark
20. 2026-05-07
    listed $379,900 Active 1194-char remark
21. 2015-12-15
    historical
22. 2015-09-06
    listed $144,900
23. 1989-12-01
    soldstatus $115,000

ⓘ 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: $4,211 · $351/mo
• Projected year-2 tax: $6,063 · $505/mo
• Expected delta: +$1,852/yr (+$154/mo · 44.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $47,952
• − Mortgage interest: −$20,720
• − Property taxes: −$4,211
• − Insurance: −$1,850
• − Repairs & maintenance: −$3,836
• − Management: −$3,836
• − Depreciation: −$10,761
• Taxable income: $2,738
• Est. tax owed @ 24.0%: −$657
• After-tax cash flow: $7,887/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

+221.7% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $369,900 Smart MLS
• 2026-05-07 Listed $379,900 Smart MLS
• 2015-12-15 Listing Removed — Smart MLS
• 2015-09-06 Listed $144,900 Smart MLS
• 1989-12-01 Sold (Public Records) $115,000 Public Records

Property tax history

+0.4%/yr

Latest (2023): $4,211 · +1.7% YoY. Source: county tax records.