251 Collins St · Hartford, CT 06105

$289,900

7 bd · 2.5 ba · 2,636 sqft · MultiFamily public records · 10 Days on market

Built 1900 5,227 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

INVESTORS TAKE NOTICE! Rare opportunity to restore and capitalize on a property with both investment potential and historical character. Whether you're looking to add a strong asset to your rental portfolio or complete a profitable fix-and-flip project, this property offers tremendous upside. Featuring two spacious units with 3 bedrooms on each floor, much of the heavy lifting has already been completed. The floors and the electrical work have been substantially updated, and a significant portion of the carpentry has already been completed, allowing you to focus on the finishing touches and maximizing value. This historic property offers the charm and character that today's buyers and tena

Key facts

• Historical character
• Updated floors
• Completed carpentry

Tags

• INVESTMENT POTENTIAL
• HISTORICAL CHARACTER
• SPACIOUS UNITS
• UPDATED FLOORS
• UPDATED ELECTRICAL WORK
• COMPLETED CARPENTRY

Property features AI

Finance

• Other: Property offered as multi-family for sale
• Financial info: Assessed value listed

Exterior

• Utilities: Public water connected; Public sewer connected; Domestic hot water
• Home design: Multi-family property (2-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Built living area approximately 2636
• Exterior features: Level lot; Vinyl siding

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Wall unit cooling; Natural gas fuel
• Interior features: Total of 10 rooms; Full basement

What this means for you Summary

Snapshot

• This is a 7-bed/2.5-bath multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $290k).

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: 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.
• Zoned schools: Hartford Public High School (math 2% / reading 12%, grade F, #188 of 194 statewide, top 98%, 709 students, 82% FRL) — zoned schools at 82% FRL track the district average.
• Market conditions: Rents rising fast (+6.7%/yr); 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 $4,410/mo this rent would consume 126% of the median local household income ($42k/yr) (locally 2389% 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 $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $81k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y 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 $172k; list at $290k implies a 69% 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 $289,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.52% ✓
• Cap rate: 13.05%
• Cash-on-cash: 24.15%
• DSCR: 2.07
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.73% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 1.91×
• Total profit: $74,195
• Equity at exit: $43,225

10-year hold

• IRR: 31.8%
• Equity multiple: 4.38×
• Total profit: $274,537
• Equity at exit: $25,065

Cash invested: $81,172 (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 06105

• Home prices YoY: -25.6%
• Rents YoY: 6.7%
• Active inventory: 47
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $4,410 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$210 /mo · $2,514/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$926
• Net cashflow: $1,633

Break-even live

Break-even rent $2,342

Max offer price $289,900

Occupancy floor 58%

Sensitivity live

Price	-10% $1,797	-5% $1,715	+0% $1,633	+5% $1,551	+10% $1,469
Rent	-10% $1,285	-5% $1,459	+0% $1,633	+5% $1,808	+10% $1,982
Rate	-1.0pp $1,779	-0.5pp $1,707	base $1,633	+0.5pp $1,558	+1.0pp $1,482

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,410
Total (2 units)			$4,410

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $289,900 Active 10 DOM
2. 2026-06-17
   days on market $289,900 Active 9 DOM
3. 2026-06-16
   days on market $289,900 Active 8 DOM
4. 2026-06-15
   days on market $289,900 Active 7 DOM
5. 2026-06-13
   days on market $289,900 Active 5 DOM
6. 2026-06-13
   days on market $289,900 Active 4 DOM
7. 2026-06-10
   days on market $289,900 Active 2 DOM
8. 2026-06-08
   remarks 699-char remark
9. 2026-06-08
   listed $289,900 Active 1 DOM

ⓘ 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: $2,514 · $210/mo
• Projected year-2 tax: $4,359 · $363/mo
• Expected delta: +$1,845/yr (+$154/mo · 73.4%)

ⓘ 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: $52,920
• − Mortgage interest: −$16,239
• − Property taxes: −$2,514
• − Insurance: −$1,450
• − Repairs & maintenance: −$4,234
• − Management: −$4,234
• − Depreciation: −$8,433
• Taxable income: $15,817
• Est. tax owed @ 24.0%: −$3,796
• After-tax cash flow: $15,804/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): 19,174
• Household income: $41,937
• Rent vs Own: 80.7% rent · 19.3% own
• Severe rent burden: 2389.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 39% White 28% Hispanic / Latino 26% Two or more races 14% Asian 2%
• Hispanic origin (detail): Puerto Rican 18% Cuban 1% Dominican 3%
• Common ancestry: Romanian 3% Lithuanian 2% Estonian 1%
• Foreign-born: 20% · Canada, United Kingdom
• Languages at home: 74% English-only · Spanish 18% Other Indo-European 3% French/Haitian/Cajun 2%

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: ▼ -59.58%
• Current HPI: 173.3602
• Rent YoY: ▲ 6.73%
• 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

+189.9% since first listed

14 events — show timeline

• 2026-06-04 Listed $289,900 Smart MLS
• 2026-03-31 Listing Removed — Smart MLS
• 2025-09-01 Listed $299,000 Smart MLS
• 2008-10-21 Sold (Public Records) $171,500 Public Records
• 2008-02-29 Listing Removed — Smart MLS
• 2008-01-24 Listed $199,900 Smart MLS
• 2007-10-16 Listing Removed — Smart MLS
• 2007-07-17 Listed $230,000 Smart MLS
• 2007-05-22 Listing Removed — Smart MLS
• 2007-04-11 Listed $280,000 Smart MLS
• 2004-05-05 Sold (Public Records) $125,000 Public Records
• 1988-09-01 Sold (Public Records) $146,000 Public Records
• 1987-09-14 Sold (Public Records) $100,000 Public Records
• 1987-09-01 Sold (Public Records) $100,000 Public Records

Property tax history

-1.7%/yr

Latest (2025): $2,514 · +0.0% YoY. Source: county tax records.