22-24 Kimball Dr · New Britain, CT 06051

$499,990

6 bd · 3.0 ba · 3,998 sqft · MultiFamily · 7 Days on market

Built 1923 Average condition 6,534 sqft lot Est $520k · at est.

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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 +21.4/30.0
• Appreciation +10.0/10.0
• ARV discount +9.2/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +3.7/5.0
• Condition / age +2.8/5.0
• Rent growth +2.4/5.0
• Schools +1.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Incredible owner occupied or investor opportunity. This impressive three-family home offers almost 4000 sq. ft. of living space. Each unit boasts two bedrooms and one bath with a spacious kitchen, dining-room, and living-room. Separate gas furnaces, water heaters and electric panels (plus Owner's panel). Also, a 3 car detached garage with power for additional income. (current tenants do not have access to the garage). Ample off-street and on-street parking. Excellent cashflow potential and upside in a strong rental market. Don't miss out! Large multi-Families like these Don't Last Long!

Key facts

• 6,534 sq ft lot
• 3 garage spots
• Built 1923

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $500k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $744 ($9k/yr) — positive. Per door: $248/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $500k).
• Cap rate 8.1% vs local median 4.2% in New Britain — 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 74/100 on livability (#67 in CT, #4,936 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: crime D, employment D.
• New Britain School District (suburban): math 6% / reading 17% proficiency, ranked #153 of 153 in CT (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Diloreto Elementary & Middle School (math 4% / reading 15%, grade F, #522 of 553 statewide, top 95%, 842 students, 73% FRL); Slade Middle School (math 0% / reading 8%, grade F, #174 of 175 statewide, top 99%, 795 students, 77% FRL); New Britain High School (math 10% / reading 31%, grade F, #162 of 194 statewide, top 83%, 2,331 students, 71% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: Rents soft (-0.6%/yr); 62 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $5,315/mo this rent would consume 125% of the median local household income ($51k/yr) (locally 2100% 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 $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $140k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $499,990

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 1923 — 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 F-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 D 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: 1.06% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.37%
• DSCR: 1.28
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $519,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Kensington Ave	0.02mi	6/3.0	3,852 (-4%)	7mo	$450,000	$117	87
100 Shuttle Meadow Ave	0.17mi	6/3.0	3,732 (-7%)	5mo	$540,000	$145	77
14 Buell St	0.51mi	6/3.0	3,924 (-2%)	3mo	$495,000	$126	71
156 Columbia St	0.30mi	6/3.0	3,858 (-4%)	14mo	$599,900	$155	68
63 Lyons St	0.22mi	6/3.0	4,140 (+4%)	19mo	$420,000	$101	68
40 Shuttle Meadow Ave	0.09mi	7/3.0 (+1)	4,462 (+12%)	7mo	$539,000	$121	66
27 Andrews St	0.14mi	6/4.0	3,479 (-13%)	5mo	$535,000	$154	64
68 Trinity St	0.48mi	6/3.0	3,862 (-3%)	14mo	$420,000	$109	60
276 Linwood St	0.11mi	6/3.0	3,534 (-12%)	19mo	$425,000	$120	60
150 Greenwood St	0.21mi	6/3.0	3,426 (-14%)	8mo	$445,000	$130	59
208 Brook St	0.24mi	6/3.0	3,432 (-14%)	9mo	$475,000	$138	58
46 Camp St	0.61mi	7/4.0 (+1)	3,740 (-6%)	15mo	$550,000	$147	39

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 3.17×
• Total profit: $304,168
• Equity at exit: $450,431

10-year hold

• IRR: 23.4%
• Equity multiple: 6.93×
• Total profit: $830,753
• Equity at exit: $971,371

Cash invested: $139,997 (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 06051

• Home prices YoY: 9.0%
• Rents YoY: -0.6%
• Active inventory: 62
• Price-to-rent: 23.5×

Monthly cashflow live

• Estimated rent: $5,315 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,116
• Net cashflow: $744

Break-even live

Break-even rent $4,374

Max offer price $499,990

Occupancy floor 81%

Sensitivity live

Price	-10% $1,089	-5% $916	+0% $744	+5% $571	+10% $398
Rent	-10% $324	-5% $534	+0% $744	+5% $953	+10% $1,163
Rate	-1.0pp $995	-0.5pp $871	base $744	+0.5pp $614	+1.0pp $482

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,316
Total (3 units)			$5,315

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: $124,998
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
151 Fairview St New Britain, CT	6.0	3.0	4098	$1,800	$0.44	4d	1	1.25mi

Listing history 2 events

1. 2026-04-21
   status Under Contract
2. 2026-04-13
   listed $499,990 Active

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

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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,780
• − Mortgage interest: −$28,007
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$5,102
• − Management: −$5,102
• − Depreciation: −$14,545
• Taxable income: $1,023
• Est. tax owed @ 24.0%: −$246
• After-tax cash flow: $8,677/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab

This three-family home offers a good amount of living space and potential for improvement. It requires moderate repairs and maintenance to bring it up to date and increase its value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — outdated and in need of replacement
• Minor landscaping — some overgrown areas

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen would appeal to both buyers and renters
• Both update bathroom fixtures and tiles — modernizing the bathrooms would appeal to both buyers and renters
• Both landscaping and curb appeal — improving the landscaping would enhance the home's curb appeal and attract more potential buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · outdated and in need of replacement	Moderate	$3,000–15,000
landscaping · some overgrown areas	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing the kitchen would appeal to both buyers and renters ↑
• Both update bathroom fixtures and tiles — modernizing the bathrooms would appeal to both buyers and renters ↑
• Both landscaping and curb appeal — improving the landscaping would enhance the home's curb appeal and attract more potential buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: New Britain School District
• NCES district ID: 0902670
• Math proficiency: 6% ▼ -6.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $40,827
• Composite: 9.95/100
• National rank: #9816
• State rank: #153 of 153 in CT

Livability — New Britain

• Score: 74/100
• State rank: #67
• US rank: #4936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Britain, CT
• County: Hartford County · 754,208 people
• City population: 66,322
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 29,548
• Household income: $51,022
• Rent vs Own: 68.9% rent · 31.1% own
• Severe rent burden: 2100.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 52% White 30% Two or more races 17% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 40% Dominican 4%
• Common ancestry: Romanian 7% Lithuanian 6% Slovak 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 39% Russian/Polish/Slavic 6% Arabic 3%

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: ▲ 31.52%
• Current HPI: 382.7816
• Rent YoY: ▼ -0.58%
• 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

2 events — show timeline

• 2026-04-21 Pending — Smart MLS
• 2026-04-13 Listed $499,990 Smart MLS