824 Albany Ave · Hartford, CT 06112

$360,000

8 bd · 4.0 ba · 3,904 sqft · MultiFamily · 5 Days on market

Built 1950 6,534 sqft 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Located in Upper Albany, this is a mixed use possible owner/investor property which features a first floor that is currently used and furnished as a place of worship. Second and third floors are both 2 bedroom apartments. Near downtown Hartford, access to highways, several stores, and hospital nearby. On and off street parking available, Gas heating. So much potential with this building. Come make this yours

Key facts

• Nx-zoned property
• New boilers
• New plumbing

Tags

• NX-ZONED PROPERTY
• TWO RESIDENTIAL UNITS
• MAJOR RENOVATIONS COMPLETED
• NEW SIDING
• NEW BOILERS
• NEW PLUMBING

Property features AI

Finance

• Financial info: Multi-family for sale (3-family)

Exterior

• Parking: Paved off-street parking; Unassigned parking for up to 4 vehicles
• Utilities: Public water connected; Public sewer connected; Thermopane windows
• Home design: Multi-family property (3-family)
• Construction: Frame and brick construction; Concrete foundation; Asphalt shingle roof; Built with vinyl siding and brick
• Exterior features: Level lot; Sidewalk; Gutters; Vinyl siding and brick exterior; Beige exterior color

Interior

• Bedrooms: 7 total bedrooms
• Bathrooms: 4 full bathrooms
• Heating & cooling: Hot water heating (natural gas); Tankless hot water
• Interior features: 11 total rooms; Full, unfinished basement; Three-unit floor plan (multi-family)

What this means for you Summary

Snapshot

• This is a 1×4bd/2.0ba + 1×2bd/1.0ba units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $729/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $360k).

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: 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 $4,996/mo this rent would consume 135% of the median local household income ($44k/yr) (locally 1466% 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 $38k of equity ($2k loan paydown + $36k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $101k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $110k; list at $360k implies a 227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $360,000

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 1950 — 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: 1.39% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.37%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.2%
• Equity multiple: 3.87×
• Total profit: $289,063
• Equity at exit: $324,317

10-year hold

• IRR: 32.0%
• Equity multiple: 8.72×
• Total profit: $778,319
• Equity at exit: $699,401

Cash invested: $100,800 (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 06112

• Home prices YoY: 4.9%
• Active inventory: 47
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $4,996 medium
• Mortgage (P&I): −$1,888
• Tax est. 1.5%: −$450 /mo · $5,400/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,049
• Net cashflow: $1,459

Break-even live

Break-even rent $3,149

Max offer price $360,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
1× unit	4	2	$2,899
1× unit	2	1	$2,097
Total (2 units)			$4,996

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $360,000 Active 5 DOM
2. 2026-06-17
   days on market $360,000 Active 4 DOM
3. 2026-06-16
   days on market $360,000 Active 3 DOM
4. 2026-06-15
   status $360,000 Active 2 DOM
5. 2026-06-13
   days on market $360,000 Coming Soon 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $360,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $59,952
• − Mortgage interest: −$20,166
• − Property taxes: −$5,400
• − Insurance: −$1,800
• − Repairs & maintenance: −$4,796
• − Management: −$4,796
• − Depreciation: −$10,473
• Taxable income: $12,521
• Est. tax owed @ 24.0%: −$3,005
• After-tax cash flow: $14,502/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): 22,333
• Household income: $44,460
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 1466.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 19% White 9% Two or more races 6%
• Hispanic origin (detail): Puerto Rican 15% Dominican 1%
• Common ancestry: Hispanic 2%
• Foreign-born: 26% · Canada
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 2% Other Indo-European 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: ▲ 14.58%
• Current HPI: 310.7763
• Rent YoY: —
• 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

+157.3% since first listed

4 events — show timeline

• 2026-06-11 Coming Soon $360,000 Smart MLS
• 2020-04-01 Sold (MLS) $110,000 Smart MLS
• 2020-03-12 Contingent — Smart MLS
• 2020-03-04 Listed $139,900 Smart MLS