4 George St · Hartford, CT 06114

$189,900

6 bd · 3.0 ba · 2,618 sqft · MultiFamily public records · 38 Days on market

Built 1900 7,840 sqft lot $73/sqft · 65% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Unlock the opportunity to transform this spacious multifamily property into a standout investment or income-producing asset. Offering over 2,600 square feet of living space, the building features three well-proportioned units, each consisting of 2 bedrooms and 1 full bathroom. Ideal for investors, owner-occupants, or multi-generational living arrangements. The property requires renovation throughout, presenting a value-add opportunity for those looking to customize and maximize returns. Situated on a desirable corner lot, the outdoor space offers excellent potential for private yard areas, entertaining, or future enhancements. Conveniently located near public transportation, shopping, dining, and with easy access to major highways, this location supports strong rental appeal and commuter convenience. No interior access is permitted.

Key facts

• Private yard areas
• Multifamily property
• Corner lot

Tags

• MULTIFAMILY PROPERTY
• INVESTMENT OPPORTUNITY
• VALUE-ADD OPPORTUNITY
• CORNER LOT
• PRIVATE YARD AREAS
• PUBLIC TRANSPORTATION ACCESS

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.

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 (+1.5%/yr); 54 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $5,410/mo this rent would consume 125% of the median local household income ($52k/yr) (locally 1897% 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 $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 1.5% rent growth), your $53k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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 $159k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; 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 $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.85% ✓
• Cap rate: 23.13%
• Cash-on-cash: 60.12%
• DSCR: 3.68
• GRM: 2.9

CMA / ARV

• ARV (median comp): $539,747
• List price: $189,900
• Delta: -64.82%
• Verdict: UNDERPRICED
• Comps: 13 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: 71.0%
• Equity multiple: 5.99×
• Total profit: $265,162
• Equity at exit: $171,077

10-year hold

• IRR: 64.2%
• Equity multiple: 12.89×
• Total profit: $632,324
• Equity at exit: $368,934

Cash invested: $53,172 (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 06114

• Home prices YoY: 4.7%
• Rents YoY: 1.5%
• Active inventory: 54
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $5,410 high
• Mortgage (P&I): −$996
• Tax from tax record: −$535 /mo · $6,418/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,136
• Net cashflow: $2,664

Break-even live

Break-even rent $2,038

Max offer price $189,900

Occupancy floor 46%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,409
Total (3 units)			$5,410

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-11
   status Under Contract 844-char remark

   Show marketing remark (844 chars)

   Unlock the opportunity to transform this spacious multifamily property into a standout investment or income-producing asset. Offering over 2,600 square feet of living space, the building features three well-proportioned units, each consisting of 2 bedrooms and 1 full bathroom. Ideal for investors, owner-occupants, or multi-generational living arrangements. The property requires renovation throughout, presenting a value-add opportunity for those looking to customize and maximize returns. Situated on a desirable corner lot, the outdoor space offers excellent potential for private yard areas, entertaining, or future enhancements. Conveniently located near public transportation, shopping, dining, and with easy access to major highways, this location supports strong rental appeal and commuter convenience. No interior access is permitted.

2. 2026-04-02
   listed $189,900 Active 844-char remark

   Show marketing remark (844 chars)

   Unlock the opportunity to transform this spacious multifamily property into a standout investment or income-producing asset. Offering over 2,600 square feet of living space, the building features three well-proportioned units, each consisting of 2 bedrooms and 1 full bathroom. Ideal for investors, owner-occupants, or multi-generational living arrangements. The property requires renovation throughout, presenting a value-add opportunity for those looking to customize and maximize returns. Situated on a desirable corner lot, the outdoor space offers excellent potential for private yard areas, entertaining, or future enhancements. Conveniently located near public transportation, shopping, dining, and with easy access to major highways, this location supports strong rental appeal and commuter convenience. No interior access is permitted.

3. 2025-03-14
   historical
4. 2025-03-13
   listed $239,900 Active
5. 2025-02-12
   historical
6. 2025-01-22
   listed $239,900 Active
7. 2004-05-21
   soldstatus $159,000
8. 2004-05-21
   soldstatus $159,000
9. 2004-05-20
   soldstatus $159,000
10. 2004-04-02
    listed $159,000

ⓘ 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: $6,418 · $535/mo
• Projected year-2 tax: $6,418 · $535/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (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: $64,920
• − Mortgage interest: −$10,637
• − Property taxes: −$6,418
• − Insurance: −$950
• − Repairs & maintenance: −$5,194
• − Management: −$5,194
• − Depreciation: −$5,524
• Taxable income: $31,004
• Est. tax owed @ 24.0%: −$7,441
• After-tax cash flow: $24,528/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): 26,458
• Household income: $52,110
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 1897.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 60% White 19% Black 19% Two or more races 10% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 36% Dominican 6%
• Common ancestry: American 6% Romanian 1% Lithuanian 1%
• Foreign-born: 31% · Canada, Jamaica
• Languages at home: 36% English-only · Spanish 49% Russian/Polish/Slavic 8% Other Indo-European 4%

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: ▲ 16.02%
• Current HPI: 356.5892
• Rent YoY: ▲ 1.47%
• 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

+19.4% since first listed

10 events — show timeline

• 2026-05-11 Pending — Smart MLS
• 2026-04-02 Listed $189,900 Smart MLS
• 2025-03-14 Listing Removed — Smart MLS
• 2025-03-13 Listed $239,900 Smart MLS
• 2025-02-12 Listing Removed — Smart MLS
• 2025-01-22 Listed $239,900 Smart MLS
• 2004-05-21 Sold (Public Records) $159,000 Public Records
• 2004-05-21 Sold (Public Records) $159,000 Public Records
• 2004-05-20 Sold (MLS) $159,000 Smart MLS
• 2004-04-02 Listed $159,000 Smart MLS

Property tax history

+4.3%/yr

Latest (2025): $6,418 · +0.0% YoY. Source: county tax records.