31 Burr Ave · Middletown, CT 06457

$330,000

2 bd · 2.0 ba · 1,470 sqft · MultiFamily public records · 31 Days on market

Built 1900 5,662 sqft lot $224/sqft · 10% below area Est $365k · 10% under

---

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 +17.3/30.0
• ARV discount +11.8/15.0
• DSCR +5.4/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.6/5.0
• 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: 2 units. confirmed

Listing remarks

Outstanding opportunity to own a well-maintained two-family property in one of Central Connecticut's most convenient locations. Featuring two spacious 1-bedroom, 1-bath apartments, this versatile property is ideal for owner-occupants seeking rental income or investors looking to expand their portfolio. Thoughtful updates enhance both value and efficiency, including separate on-demand heating and hot water systems installed approximately four years ago, along with a recently constructed deck and exterior staircase serving the second-floor unit. Location is a standout feature. Just steps from Middlesex Health and minutes from Wesleyan University, downtown Middletown's restaurants, shops, and

Key facts

• 5,662 sq ft lot
• 4 parking spots
• Built 1900

Property features AI

Finance

• Other: No additional financial details provided
• Financial info: Multifamily property: 2 units (total rooms listed as 6)
• HOA & community: No HOA information provided

Exterior

• Parking: Unpaved off-street parking; 4 parking spaces
• Security: No security details provided
• Utilities: Public water; Public sewer (in street); Natural gas service
• Home design: Multi-family (2-family) property
• Construction: Frame construction with vinyl siding; Tan exterior color; Asphalt shingle roof; Concrete and masonry foundation; Built as a two-family (multi-unit) building
• Exterior features: Enclosed porch; Open porch; Deck; Shed; Sloping lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 2 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating (natural gas); Wall unit cooling
• Interior features: 6 total rooms; Full basement with dirt floor and hatchway; Basement has laundry hook-ups
• Laundry & utility: Basement washer/dryer hook-ups; Tankless hot water (natural gas)

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $330k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive. Per door: $120/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $312k (5.4% below list).
• Recommended offer: $312k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.7% in Middletown — 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 81/100 on livability (#17 in CT, #1,390 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: commute F.
• Middletown School District (urban): math 24% / reading 44% proficiency, ranked #113 of 153 in CT (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Middletown High School (math 25% / reading 52%, grade F, #111 of 194 statewide, top 57%, 1,214 students, 49% FRL).
• Market conditions: Rents flat; 143 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).
• At $3,122/mo this rent would consume 47% of the median local household income ($79k/yr) (locally 2196% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 5 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 $197k; list at $330k implies a 68% 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: 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 $312,200 (5.4% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 5% 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. 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: 0.95% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.12%
• DSCR: 1.14
• GRM: 8.8

CMA / ARV

• ARV (median comp): $365,119
• List price: $330,000
• Delta: -9.62%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Main ST EXT	0.40mi	2/2.0	1,264 (-14%)	23mo	$177,000	$140	39

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 · 0.22% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.50×
• Total profit: $-46,635
• Equity at exit: $49,204

10-year hold

• IRR: -11.0%
• Equity multiple: 0.42×
• Total profit: $-53,804
• Equity at exit: $28,532

Cash invested: $92,400 (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 06457

• Rents YoY: 0.2%
• Active inventory: 143
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $3,122 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$358 /mo · $4,293/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $241

Break-even live

Break-even rent $2,817

Max offer price $330,000

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$3,122
Total (2 units)			$3,122

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31 Burr Ave #1 Middletown, CT	1.0	1.0	894	$1,600	$1.79	2d	1	0.02mi
27 Woodside Cir Unit 37 Middletown, CT	3.0	2.0	1600	$2,300	$1.44	44d	1	0.19mi
305 S Main St Middletown, CT	1.0–2.0	1.0	950	$1,850	$1.95	2d	1	0.23mi
11 Huber Ave Middletown, CT	3.0	1.0	1102	$2,300	$2.09	24d	1	0.30mi
61 Main St Unit 2 Middletown, CT	2.0	1.0	913	$1,800	$1.97	44d	1	0.45mi
166 College St Unit 2 Middletown, CT	2.0	1.0	975	$1,700	$1.74	16d	1	0.53mi
36 Walnut St Unit 2 Middletown, CT	2.0	1.0	1200	$1,400	$1.17	44d	1	0.62mi
43 McKenzie St Middletown, CT	2.0	1.0	981	$1,800	$1.83	44d	1	0.70mi
505 Main St Middletown, CT	3.0	2.0	1263	$2,000	$1.58	2d	1	0.83mi
131 Eastern Dr Middletown, CT	2.0	1.5	1442	$1,750	$1.21	2d	1	0.87mi
57 Ferry St Unit 1 Middletown, CT	3.0	1.5	1500	$2,000	$1.33	10d	1	0.89mi
60 Ferry St Unit 1A Middletown, CT	2.0	1.0	950	$1,750	$1.84	14d	1	0.90mi
94 Liberty St Middletown, CT	3.0	1.5	978	$1,850	$1.89	44d	1	0.91mi
173 Liberty St Middletown, CT	2.0	1.0	1172	$1,500	$1.28	16d	1	0.91mi
582 Main St Middletown, CT	3.0	1.0	1200	$2,000	$1.67	2d	1	0.91mi
40 Ferry St Middletown, CT	2.0	2.0	1100	$1,750	$1.59	14d	1	0.92mi
40 Ferry St Unit 4A Middletown, CT	2.0	2.0	1100	$1,750	$1.59	2d	1	0.92mi
59 Park Pl Middletown, CT	2.0	1.0	929	$1,700	$1.83	20d	1	0.93mi
39 Grand St Unit 3 Middletown, CT	3.0	1.0	1076	$2,000	$1.86	2d	1	0.96mi
3 Clinton Ave Unit 3 CLINTON Middletown, CT	3.0	1.0	1200	$1,450	$1.21	21d	1	0.97mi
22 Green St Middletown, CT	2.0	1.0	1000	$1,400	$1.40	44d	1	0.98mi
128 Grand St Unit 3 Middletown, CT	2.0	1.0	1000	$1,650	$1.65	44d	1	0.99mi
63 Maynard St Middletown, CT	2.0	1.0	950	$1,600	$1.68	44d	1	0.99mi
580 High St Middletown, CT	3.0	1.0	1466	$1,900	$1.30	2d	1	1.25mi
103 Grove St Unit 3 Middletown, CT	2.0	1.0	1000	$1,700	$1.70	2d	1	1.38mi
38 Boston Rd Middletown, CT	2.0	1.0	704	$4,480	$6.36	2d	1	1.39mi
650 High St Unit 2 Middletown, CT	2.0	1.0	900	$1,500	$1.67	24d	1	1.40mi
652 High St Middletown, CT	2.0	1.0	1100	$1,600	$1.45	44d	1	1.40mi
184 Rose Cir Middletown, CT	1.0–3.0	1.0–1.5	1220	$1,700	$1.39	2d	6	1.42mi
3 Quarry Ln Unit 1 Portland, CT	2.0	1.0	900	$1,800	$2.00	10d	1	1.46mi

Listing history 27 events

1. 2026-06-18
   days on market $330,000 Active 31 DOM
2. 2026-06-17
   days on market $330,000 Active 30 DOM
3. 2026-06-16
   days on market $330,000 Active 29 DOM
4. 2026-06-15
   days on market $330,000 Active 28 DOM
5. 2026-06-13
   days on market $330,000 Active 26 DOM
6. 2026-06-13
   days on market $330,000 Active 25 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   days on market $330,000 Active 23 DOM
9. 2026-06-09
   days on market $330,000 Active 22 DOM
10. 2026-06-08
    days on market $330,000 Active 21 DOM
11. 2026-06-07
    days on market $330,000 Active 20 DOM
12. 2026-06-03
    days on market $330,000 Active 16 DOM
13. 2026-06-02
    days on market $330,000 Active 15 DOM
14. 2026-06-01
    days on market $330,000 Active 14 DOM
15. 2026-05-31
    days on market $330,000 Active 13 DOM
16. 2026-05-13
    historical $330,000 683-char remark
17. 2017-11-21
    historical
18. 2017-07-05
    listed $174,500
19. 2015-06-13
    historical
20. 2015-04-13
    listed $180,000
21. 2007-04-13
    soldstatus $197,000
22. 2007-04-12
    soldstatus $197,000
23. 2006-10-03
    listed $216,000
24. 2003-09-02
    soldstatus $125,000
25. 2003-09-02
    soldstatus $125,000
26. 2003-08-29
    soldstatus $125,000
27. 2003-04-01
    listed $138,900

ⓘ 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: $4,293 · $358/mo
• Projected year-2 tax: $5,678 · $473/mo
• Expected delta: +$1,384/yr (+$115/mo · 32.3%)

ⓘ 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 ≥99°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: $37,464
• − Mortgage interest: −$18,485
• − Property taxes: −$4,293
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,997
• − Management: −$2,997
• − Depreciation: −$9,600
• Taxable loss: −$2,558
• Est. tax savings @ 24.0%: +$614
• After-tax cash flow: $3,501/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: Middletown School District
• NCES district ID: 0902490
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $60,733
• Composite: 30.47/100
• National rank: #6224
• State rank: #113 of 153 in CT

Livability — Middletown

• Score: 81/100
• State rank: #17
• US rank: #1390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, CT
• County: Middlesex County · 63,941 people
• City population: 46,720
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 46,720
• Household income: $79,463
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 2196.0

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 13% Hispanic / Latino 12% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7%
• Common ancestry: Romanian 9% Lithuanian 5% Slovak 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -470.20%
• Current HPI: 255.1597
• Rent YoY: ▲ 0.22%
• 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

+137.6% since first listed

13 events — show timeline

• 2026-05-19 Listed $330,000 Smart MLS
• 2026-05-13 Coming Soon $330,000 Smart MLS
• 2017-11-21 Listing Removed — Smart MLS
• 2017-07-05 Listed $174,500 Smart MLS
• 2015-06-13 Listing Removed — Smart MLS
• 2015-04-13 Listed $180,000 Smart MLS
• 2007-04-13 Sold (Public Records) $197,000 Public Records
• 2007-04-12 Sold (MLS) $197,000 Smart MLS
• 2006-10-03 Listed $216,000 Smart MLS
• 2003-09-02 Sold (Public Records) $125,000 Public Records
• 2003-09-02 Sold (Public Records) $125,000 Public Records
• 2003-08-29 Sold (MLS) $125,000 Smart MLS
• 2003-04-01 Listed $138,900 Smart MLS

Property tax history

-0.1%/yr

Latest (2022): $4,293 · +0.0% YoY. Source: county tax records.