283 Martin St · Hartford, CT 06120

$519,000

9 bd · 3.0 ba · 3,750 sqft · MultiFamily public records · 10 Days on market

Built 1917 6,969 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 +29.0/30.0
• DSCR +10.0/10.0
• Appreciation +8.6/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Owner willing to accept offers. Very motivated!!!

Key facts

• Newer boilers
• Renovated bathrooms
• Newer roof

Tags

• UPDATED KITCHENS
• RENOVATED BATHROOMS
• BUTLER'S PANTRIES
• NEWER ROOF
• NEWER BOILERS
• VINYL REPLACEMENT WINDOWS

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $519k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $590/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $519k).

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 (+2.8%/yr); 21 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 $6,606/mo this rent would consume 228% of the median local household income ($35k/yr) (locally 1435% 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 $41k of equity ($4k loan paydown + $37k appreciation (7.1% local appreciation)).
• At projected returns (7.1% appreciation + 2.8% rent growth), your $145k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y 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 $190k; list at $519k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — 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 $519,000

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 1917 — 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: 1.27% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.61%
• DSCR: 1.65
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.12% appreciation · 2.83% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 3.04×
• Total profit: $296,520
• Equity at exit: $363,597

10-year hold

• IRR: 26.9%
• Equity multiple: 6.33×
• Total profit: $774,923
• Equity at exit: $694,273

Cash invested: $145,320 (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 06120

• Home prices YoY: 2.4%
• Rents YoY: 2.8%
• Active inventory: 21
• Price-to-rent: 19.6×

Monthly cashflow live

• Estimated rent: $6,606 medium
• Mortgage (P&I): −$2,722
• Tax from tax record: −$511 /mo · $6,137/yr
• Insurance: −$216
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,387
• Net cashflow: $1,769

Break-even live

Break-even rent $4,366

Max offer price $519,000

Occupancy floor 68%

Sensitivity live

Price	-10% $2,063	-5% $1,916	+0% $1,769	+5% $1,622	+10% $1,476
Rent	-10% $1,248	-5% $1,508	+0% $1,769	+5% $2,030	+10% $2,291
Rate	-1.0pp $2,031	-0.5pp $1,901	base $1,769	+0.5pp $1,635	+1.0pp $1,498

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,606
Total (3 units)			$6,606

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: $129,750
• Closing costs: $15,570
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-06
   status Under Contract
2. 2026-03-27
   listed $519,000 Active
3. 2024-02-27
   soldstatus $190,000
4. 2003-05-21
   soldstatus $92,500
5. 2003-05-20
   soldstatus $92,500 49-char remark

   Show marketing remark (49 chars)

   Owner willing to accept offers. Very motivated!!!

6. 2003-02-07
   listed $115,000 49-char remark

   Show marketing remark (49 chars)

   Owner willing to accept offers. Very motivated!!!

7. 1993-03-01
   soldstatus $27,000

ⓘ 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: $6,137 · $511/mo
• Projected year-2 tax: $8,622 · $718/mo
• Expected delta: +$2,485/yr (+$207/mo · 40.5%)

ⓘ 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: $79,272
• − Mortgage interest: −$29,072
• − Property taxes: −$6,137
• − Insurance: −$2,595
• − Repairs & maintenance: −$6,342
• − Management: −$6,342
• − Depreciation: −$15,098
• Taxable income: $13,686
• Est. tax owed @ 24.0%: −$3,285
• After-tax cash flow: $17,948/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): 13,926
• Household income: $34,830
• Rent vs Own: 87.2% rent · 12.8% own
• Severe rent burden: 1435.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 46% Black 46% Two or more races 21% White 3%
• Hispanic origin (detail): Puerto Rican 37% Dominican 1%
• Common ancestry: Estonian 1% Portuguese 1%
• Foreign-born: 14% · Canada
• Languages at home: 61% English-only · Spanish 36% 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: ▲ 7.12%
• Current HPI: 307.6427
• Rent YoY: ▲ 2.83%
• 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

+1822.2% since first listed

7 events — show timeline

• 2026-04-06 Pending — Smart MLS
• 2026-03-27 Listed $519,000 Smart MLS
• 2024-02-27 Sold (Public Records) $190,000 Public Records
• 2003-05-21 Sold (Public Records) $92,500 Public Records
• 2003-05-20 Sold (MLS) $92,500 Smart MLS
• 2003-02-07 Listed $115,000 Smart MLS
• 1993-03-01 Sold (Public Records) $27,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $6,137 · +10.1% YoY. Source: county tax records.