302 Allen St · New Britain, CT 06053

$529,000

6 bd · 3.0 ba · 2,724 sqft · MultiFamily public records · 25 Days on market

Built 1920 6,969 sqft lot Est $433k · 22% over

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Why this score? — see what drove the D 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 +15.0/30.0
• Appreciation +10.0/10.0
• DSCR +4.6/10.0
• 1% rule +3.9/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

Investor or owner occupied availability. It is close to everything including highways, restaurants, shopping and CCSU. All three units have their own utilities and are well maintained. There is plenty of off street parking for the whole house. Back yard is desirable and flat. The home boasts newer windows and an updated third floor unit. Newly installed fire safety alert system.

Key facts

• Separate utilities
• Washer dryer hookups
• Convenient location

Tags

• INVESTMENT OPPORTUNITY
• SEPARATE UTILITIES
• WASHER DRYER HOOKUPS
• AMPLE PAVED PARKING
• CONVENIENT LOCATION

Property features AI

Finance

• Financial info: Multi-family for sale

Exterior

• Parking: Paved driveway; 3 parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Stone foundation; Asphalt shingle roof; Vinyl siding
• Exterior features: Level lot; Private paved driveway

Interior

• Kitchen: Appliances not listed
• Bedrooms: 6 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating (natural gas); Window air conditioning units
• Interior features: Total of 15 rooms; Full, unfinished basement; Walk-up attic
• Laundry & utility: All units have washer/dryer hook-ups; 40-gallon natural gas hot water tank

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $529k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive. Per door: $55/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 $473k (10.5% below list).
• Recommended offer: $473k (10.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Holmes Elementary School (math 11% / reading 23%, grade F, #459 of 553 statewide, top 84%, 460 students, 65% 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 68% FRL track the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 69 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).

Forward outlook

• In year one you build about $57k of equity ($4k loan paydown + $53k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 4.9% rent growth), your $148k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$91k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($521k) is reasonable based on typical stale-listing flexibility.
• 15 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 $242k; list at $529k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $473,300 (10.5% below list)

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 1920 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.89% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.34%
• DSCR: 1.06
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $433,116
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Derby St	0.04mi	6/3.0	2,931 (+8%)	9mo	$441,000	$150	78
156 Wilcox St	0.11mi	6/2.0	2,608 (-4%)	9mo	$395,000	$151	77
16 Vincent Ave	0.12mi	7/3.0 (+1)	2,939 (+8%)	6mo	$535,000	$182	72
19 Hayes St	0.62mi	6/3.0	2,727 (+0%)	7mo	$298,000	$109	65
154 Daly Ave	0.35mi	6/3.0	2,520 (-8%)	8mo	$402,000	$160	65
55 Putnam St	0.47mi	6/3.0	2,664 (-2%)	14mo	$314,500	$118	62
182 West St	0.44mi	6/3.0	2,910 (+7%)	7mo	$485,000	$167	62
136 Lawlor St	0.38mi	6/2.0	2,392 (-12%)	12mo	$275,000	$115	48
9 E Lawlor St	0.48mi	6/5.0	2,330 (-14%)	5mo	$465,000	$200	41
62 Miller St	0.69mi	6/3.0	3,090 (+13%)	10mo	$490,000	$159	37
38 Brown St	0.72mi	6/2.0	2,392 (-12%)	7mo	$403,000	$168	36
80 North St	0.65mi	7/2.0 (+1)	2,366 (-13%)	16mo	$330,000	$139	26

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 · 4.94% rent growth · sell at horizon

5-year hold

• IRR: 25.9%
• Equity multiple: 3.08×
• Total profit: $308,077
• Equity at exit: $476,565

10-year hold

• IRR: 23.3%
• Equity multiple: 7.21×
• Total profit: $919,670
• Equity at exit: $1,027,731

Cash invested: $148,120 (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 06053

• Home prices YoY: 15.4%
• Rents YoY: 4.9%
• Active inventory: 69
• Price-to-rent: 27.9×

Monthly cashflow live

• Estimated rent: $4,733 high
• Mortgage (P&I): −$2,774
• Tax from tax record: −$579 /mo · $6,950/yr
• Insurance: −$220
• HOA: −$0
• Vacancy / Maint / Mgmt: −$994
• Net cashflow: $165

Break-even live

Break-even rent $4,524

Max offer price $529,000

Occupancy floor 92%

Sensitivity live

Price	-10% $465	-5% $315	+0% $165	+5% $16	+10% $-134
Rent	-10% $-209	-5% $-22	+0% $165	+5% $352	+10% $539
Rate	-1.0pp $432	-0.5pp $300	base $165	+0.5pp $28	+1.0pp $-111

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,734
Total (3 units)			$4,733

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: $132,250
• Closing costs: $15,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Union St New Britain, CT	5.0	2.0	2060	$2,800	$1.36	24d	1	0.72mi

Listing history 50 events

1. 2026-06-18
   days on market $529,000 Active 25 DOM
2. 2026-06-17
   days on market $529,000 Active 24 DOM
3. 2026-06-16
   days on market $529,000 Active 23 DOM
4. 2026-06-15
   days on market $529,000 Active 22 DOM
5. 2026-06-13
   days on market $529,000 Active 20 DOM
6. 2026-06-13
   remarks 612-char remark
7. 2026-06-13
   days on market $529,000 Active 19 DOM
8. 2026-06-10
   days on market $529,000 Active 17 DOM
9. 2026-06-09
   days on market $529,000 Active 16 DOM
10. 2026-06-08
    days on market $529,000 Active 15 DOM
11. 2026-06-07
    days on market $529,000 Active 14 DOM
12. 2026-06-05
    days on market $529,000 Active 11 DOM
13. 2026-06-03
    days on market $529,000 Active 10 DOM
14. 2026-06-02
    days on market $529,000 Active 9 DOM
15. 2026-06-01
    days on market $529,000 Active 8 DOM
16. 2026-05-31
    days on market $529,000 Active 7 DOM
17. 2026-05-21
    listed $529,000 Active
18. 2025-10-21
    historical $1,400
19. 2025-10-14
    price $1,400
20. 2025-07-15
    listed $1,500
21. 2021-03-23
    soldstatus $242,500 Closed 382-char remark

    Show marketing remark (382 chars)

    Investor or owner occupied availability. It is close to everything including highways, restaurants, shopping and CCSU. All three units have their own utilities and are well maintained. There is plenty of off street parking for the whole house. Back yard is desirable and flat. The home boasts newer windows and an updated third floor unit. Newly installed fire safety alert system.

22. 2021-02-28
    historical 382-char remark

    Show marketing remark (382 chars)

    Investor or owner occupied availability. It is close to everything including highways, restaurants, shopping and CCSU. All three units have their own utilities and are well maintained. There is plenty of off street parking for the whole house. Back yard is desirable and flat. The home boasts newer windows and an updated third floor unit. Newly installed fire safety alert system.

23. 2021-02-07
    historical Under Contract - Continue to Show 382-char remark

    Show marketing remark (382 chars)

    Investor or owner occupied availability. It is close to everything including highways, restaurants, shopping and CCSU. All three units have their own utilities and are well maintained. There is plenty of off street parking for the whole house. Back yard is desirable and flat. The home boasts newer windows and an updated third floor unit. Newly installed fire safety alert system.

24. 2021-02-02
    price $259,900 382-char remark

    Show marketing remark (382 chars)

    Investor or owner occupied availability. It is close to everything including highways, restaurants, shopping and CCSU. All three units have their own utilities and are well maintained. There is plenty of off street parking for the whole house. Back yard is desirable and flat. The home boasts newer windows and an updated third floor unit. Newly installed fire safety alert system.

25. 2020-12-10
    status Active 382-char remark

    Show marketing remark (382 chars)

    Investor or owner occupied availability. It is close to everything including highways, restaurants, shopping and CCSU. All three units have their own utilities and are well maintained. There is plenty of off street parking for the whole house. Back yard is desirable and flat. The home boasts newer windows and an updated third floor unit. Newly installed fire safety alert system.

26. 2020-10-27
    historical Under Contract - Continue to Show 382-char remark

    Show marketing remark (382 chars)

    Investor or owner occupied availability. It is close to everything including highways, restaurants, shopping and CCSU. All three units have their own utilities and are well maintained. There is plenty of off street parking for the whole house. Back yard is desirable and flat. The home boasts newer windows and an updated third floor unit. Newly installed fire safety alert system.

27. 2020-10-07
    listed $269,900 Active 382-char remark

    Show marketing remark (382 chars)

    Investor or owner occupied availability. It is close to everything including highways, restaurants, shopping and CCSU. All three units have their own utilities and are well maintained. There is plenty of off street parking for the whole house. Back yard is desirable and flat. The home boasts newer windows and an updated third floor unit. Newly installed fire safety alert system.

28. 2018-12-19
    soldstatus $220,000
29. 2018-12-18
    soldstatus $220,000 Closed 477-char remark

    Show marketing remark (477 chars)

    Start your real estate portfolio here and live for free with this three family money maker. One unit available for owner occupant. Brand new roof, updated windows. All separate utilities, natural gas heat and hot water, 4 circuit breaker service panels with owner’s meter electric. All well cared for by professional landlord. A manageable investment, all 2 Bedroom units with rich hardwood flooring. Just enough grass to enjoy. Central location, close to CCSU, shopping.

30. 2018-11-25
    historical 477-char remark

    Show marketing remark (477 chars)

    Start your real estate portfolio here and live for free with this three family money maker. One unit available for owner occupant. Brand new roof, updated windows. All separate utilities, natural gas heat and hot water, 4 circuit breaker service panels with owner’s meter electric. All well cared for by professional landlord. A manageable investment, all 2 Bedroom units with rich hardwood flooring. Just enough grass to enjoy. Central location, close to CCSU, shopping.

31. 2018-09-25
    historical Under Contract - Continue to Show 477-char remark

    Show marketing remark (477 chars)

    Start your real estate portfolio here and live for free with this three family money maker. One unit available for owner occupant. Brand new roof, updated windows. All separate utilities, natural gas heat and hot water, 4 circuit breaker service panels with owner’s meter electric. All well cared for by professional landlord. A manageable investment, all 2 Bedroom units with rich hardwood flooring. Just enough grass to enjoy. Central location, close to CCSU, shopping.

32. 2018-07-31
    listed $219,900 Active 477-char remark

    Show marketing remark (477 chars)

    Start your real estate portfolio here and live for free with this three family money maker. One unit available for owner occupant. Brand new roof, updated windows. All separate utilities, natural gas heat and hot water, 4 circuit breaker service panels with owner’s meter electric. All well cared for by professional landlord. A manageable investment, all 2 Bedroom units with rich hardwood flooring. Just enough grass to enjoy. Central location, close to CCSU, shopping.

33. 2010-11-30
    soldstatus $91,900
34. 2010-11-10
    listed $79,900
35. 2009-03-17
    historical
36. 2009-02-17
    listed $149,900
37. 2008-12-18
    historical
38. 2008-11-18
    listed $179,900
39. 2008-08-24
    historical
40. 2008-07-24
    listed $199,900
41. 2008-07-10
    historical
42. 2008-06-10
    listed $239,900
43. 2008-03-07
    historical
44. 2008-02-07
    listed $219,900
45. 2008-02-02
    historical
46. 2008-01-02
    listed $219,900
47. 2007-12-20
    historical
48. 2007-11-20
    listed $239,900
49. 2003-12-23
    soldstatus $130,000
50. 2003-12-22
    soldstatus $130,000

ⓘ 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: $6,950 · $579/mo
• Projected year-2 tax: $9,135 · $761/mo
• Expected delta: +$2,185/yr (+$182/mo · 31.4%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,796
• − Mortgage interest: −$29,632
• − Property taxes: −$6,950
• − Insurance: −$2,645
• − Repairs & maintenance: −$4,544
• − Management: −$4,544
• − Depreciation: −$15,389
• Taxable loss: −$6,908
• Est. tax savings @ 24.0%: +$1,658
• After-tax cash flow: $3,642/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: 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): 36,774
• Household income: $62,645
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 1835.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 36% Two or more races 13% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 25% Dominican 4%
• Common ancestry: Romanian 19% Lithuanian 3% Russian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 50% English-only · Spanish 26% Russian/Polish/Slavic 15% French/Haitian/Cajun 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: ▲ 65.76%
• Current HPI: 491.4724
• Rent YoY: ▲ 4.94%
• 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

+958.0% since first listed

38 events — show timeline

• 2026-05-21 Listed $529,000 Smart MLS
• 2025-10-21 Rental Removed $1,400 SMARTMLS
• 2025-10-14 Price Changed $1,400 SMARTMLS
• 2025-07-15 Listed for Rent $1,500 SMARTMLS
• 2021-03-23 Sold (MLS) $242,500 Smart MLS
• 2021-02-28 Listing Removed — Smart MLS
• 2021-02-07 Contingent — Smart MLS
• 2021-02-02 Price Changed $259,900 Smart MLS
• 2020-12-10 Relisted — Smart MLS
• 2020-10-27 Contingent — Smart MLS
• 2020-10-07 Listed $269,900 Smart MLS
• 2018-12-19 Sold (Public Records) $220,000 Public Records
• 2018-12-18 Sold (MLS) $220,000 Smart MLS
• 2018-11-25 Listing Removed — Smart MLS
• 2018-09-25 Contingent — Smart MLS
• 2018-07-31 Listed $219,900 Smart MLS
• 2010-11-30 Sold (MLS) $91,900 Smart MLS
• 2010-11-10 Listed $79,900 Smart MLS
• 2009-03-17 Listing Removed — Smart MLS
• 2009-02-17 Listed $149,900 Smart MLS
• 2008-12-18 Listing Removed — Smart MLS
• 2008-11-18 Listed $179,900 Smart MLS
• 2008-08-24 Listing Removed — Smart MLS
• 2008-07-24 Listed $199,900 Smart MLS
• 2008-07-10 Listing Removed — Smart MLS
• 2008-06-10 Listed $239,900 Smart MLS
• 2008-03-07 Listing Removed — Smart MLS
• 2008-02-07 Listed $219,900 Smart MLS
• 2008-02-02 Listing Removed — Smart MLS
• 2008-01-02 Listed $219,900 Smart MLS
• 2007-12-20 Listing Removed — Smart MLS
• 2007-11-20 Listed $239,900 Smart MLS
• 2003-12-23 Sold (Public Records) $130,000 Public Records
• 2003-12-22 Sold (MLS) $130,000 Smart MLS
• 2003-08-08 Listed $125,000 Smart MLS
• 2003-08-07 Sold (MLS) $84,900 Smart MLS
• 2003-06-12 Listed $84,900 Smart MLS
• 1994-09-08 Sold (Public Records) $50,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $6,950 · +2.4% YoY. Source: county tax records.