47 Wilkinson St · Putnam, CT 06260

$435,000

7 bd · 4.0 ba · 3,244 sqft · MultiFamily public records · 59 Days on market

Built 1900 0.27 ac lot $134/sqft · 8% above area Est $403k · 8% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +3.9/15.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great 4 Family Investment Property

Key facts

• 0.27 acre lot
• 4 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $435k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $769/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $435k).
• Recommended offer: $422k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 3.4% in Putnam — 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 66/100 on livability (#117 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: health & safety D+, schools D-, amenities F.
• Putnam School District (suburban): math 25% / reading 34% proficiency, ranked #126 of 153 in CT (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 59 active listings in the ZIP; 149 units permitted in Northeastern Connecticut Planning Region in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $122k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 13 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 $345k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 54% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $421,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% 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. 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?
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: 1.71% ✓
• Cap rate: 14.77%
• Cash-on-cash: 30.29%
• DSCR: 2.35
• GRM: 4.9

CMA / ARV

• ARV (median comp): $402,960
• List price: $435,000
• Delta: 7.95%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70-74 Grove St	0.14mi	6/2.0 (-1)	3,337 (+3%)	21mo	$365,000	$109	58
52-54 School St	0.07mi	8/6.0 (+1)	3,096 (-5%)	22mo	$425,000	$137	58
182 Grove St	0.40mi	6/4.0 (-1)	3,139 (-3%)	18mo	$330,000	$105	56
305 School St	0.67mi	8/4.0 (+1)	3,210 (-1%)	19mo	$385,000	$120	46
48-50 Woodstock Ave	0.59mi	6/2.0 (-1)	3,236 (-0%)	17mo	$145,000	$45	45
61 Van Den Noort St	0.68mi	8/3.0 (+1)	3,437 (+6%)	12mo	$500,000	$145	39
12-16 Battey St	0.72mi	8/4.0 (+1)	3,614 (+11%)	17mo	$375,000	$104	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.9%
• Equity multiple: 2.03×
• Total profit: $125,296
• Equity at exit: $64,860

10-year hold

• IRR: 32.7%
• Equity multiple: 3.97×
• Total profit: $361,185
• Equity at exit: $37,611

Cash invested: $121,800 (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 06260

• Home prices YoY: -4.3%
• Active inventory: 59
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $7,446 medium
• Mortgage (P&I): −$2,281
• Tax from tax record: −$346 /mo · $4,149/yr
• Insurance: −$181
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,564
• Net cashflow: $3,074

Break-even live

Break-even rent $3,555

Max offer price $435,000

Occupancy floor 54%

Sensitivity live

Price	-10% $3,320	-5% $3,197	+0% $3,074	+5% $2,951	+10% $2,828
Rent	-10% $2,486	-5% $2,780	+0% $3,074	+5% $3,368	+10% $3,662
Rate	-1.0pp $3,293	-0.5pp $3,185	base $3,074	+0.5pp $2,961	+1.0pp $2,847

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$7,444
Total (4 units)			$7,446

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: $108,750
• Closing costs: $13,050
• Reserves months: —
• Total cash needed: —

Listing history 46 events

1. 2026-06-15
   statusdays on market $435,000 Under Contract 59 DOM
2. 2026-06-13
   days on market $435,000 Active 58 DOM
3. 2026-06-12
   days on market $435,000 Active 57 DOM
4. 2026-06-09
   days on market $435,000 Active 54 DOM
5. 2026-06-08
   days on market $435,000 Active 53 DOM
6. 2026-06-07
   days on market $435,000 Active 52 DOM
7. 2026-06-07
   days on market $435,000 Active 51 DOM
8. 2026-06-04
   days on market $435,000 Active 48 DOM
9. 2026-06-02
   days on market $435,000 Active 47 DOM
10. 2026-06-01
    days on market $435,000 Active 46 DOM
11. 2026-05-31
    days on market $435,000 Active 45 DOM
12. 2026-05-31
    days on market $435,000 Active 44 DOM
13. 2026-04-16
    listed $435,000 Active 34-char remark

    Show marketing remark (34 chars)

    Great 4 Family Investment Property

14. 2023-01-27
    soldstatus $345,000
15. 2022-11-10
    soldstatus $335,000 Closed 303-char remark

    Show marketing remark (303 chars)

    Take advantage of this great four family, which has 3 of the units redone, with off street parking A lot of work has already been done, come check it out it will definitely not last. Seller has the right to accept an offer at any time, and will not evict anyone. Property is "being sold as Is"

16. 2022-07-27
    listed $340,000 Active 303-char remark

    Show marketing remark (303 chars)

    Take advantage of this great four family, which has 3 of the units redone, with off street parking A lot of work has already been done, come check it out it will definitely not last. Seller has the right to accept an offer at any time, and will not evict anyone. Property is "being sold as Is"

17. 2021-05-10
    soldstatus $150,000
18. 2019-10-02
    status Under Contract
19. 2019-10-02
    historical
20. 2019-09-28
    listed $250,000 Active
21. 2017-11-06
    soldstatus $129,900
22. 2017-11-06
    soldstatus $129,900
23. 2017-09-26
    historical
24. 2016-11-21
    listed $139,900
25. 2016-10-23
    historical
26. 2016-05-24
    listed $154,900
27. 2015-10-31
    historical
28. 2015-06-22
    listed $149,900
29. 2012-12-03
    historical
30. 2012-06-25
    listed $159,900
31. 2012-05-25
    historical
32. 2011-09-16
    listed $169,900
33. 2010-08-01
    historical
34. 2009-08-02
    listed $184,900
35. 2008-12-12
    historical
36. 2008-09-30
    listed $199,900
37. 2007-12-16
    historical
38. 2007-05-11
    listed $210,000
39. 2007-02-04
    historical
40. 2006-12-04
    listed $236,900
41. 2004-06-15
    soldstatus $171,000
42. 2004-06-04
    soldstatus $171,000
43. 2004-03-29
    listed $169,900
44. 2003-12-31
    soldstatus $135,000
45. 1989-12-28
    soldstatus $129,000
46. 1987-11-24
    soldstatus $125,000

ⓘ 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: $4,149 · $346/mo
• Projected year-2 tax: $6,729 · $561/mo
• Expected delta: +$2,580/yr (+$215/mo · 62.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $89,352
• − Mortgage interest: −$24,367
• − Property taxes: −$4,149
• − Insurance: −$2,175
• − Repairs & maintenance: −$7,148
• − Management: −$7,148
• − Depreciation: −$12,655
• Taxable income: $31,710
• Est. tax owed @ 24.0%: −$7,610
• After-tax cash flow: $29,279/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: Putnam School District
• NCES district ID: 0903480
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 34% ▼ -19.00%
• Median HH income: $51,031
• Composite: 25.85/100
• National rank: #7349
• State rank: #126 of 153 in CT

Livability — Putnam

• Score: 66/100
• State rank: #117
• US rank: #11486

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Putnam, CT
• Population (ZIP): 9,227

Population outlook (Northeastern Connecticut County) Hauer SSP2

• By 2040: 104,160

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Lithuanian 18% Romanian 5% Scotch-Irish 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Northeastern Connecticut

• 2024 margin: R (+15.4) · D 41.5% · R 57.0% · Other 1.5%
• All cycles: 2024: R+15.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -14.95%
• Current HPI: 332.9661
• Rent YoY: —
• Metro: —
• 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

+248.0% since first listed

34 events — show timeline

• 2026-04-16 Listed $435,000 Smart MLS
• 2023-01-27 Sold (Public Records) $345,000 Public Records
• 2022-11-10 Sold (MLS) $335,000 Smart MLS
• 2022-07-27 Listed $340,000 Smart MLS
• 2021-05-10 Sold (Public Records) $150,000 Public Records
• 2019-10-02 Pending — Smart MLS
• 2019-10-02 Listing Removed — Smart MLS
• 2019-09-28 Listed $250,000 Smart MLS
• 2017-11-06 Sold (Public Records) $129,900 Public Records
• 2017-11-06 Sold (MLS) $129,900 Smart MLS
• 2017-09-26 Listing Removed — Smart MLS
• 2016-11-21 Listed $139,900 Smart MLS
• 2016-10-23 Listing Removed — Smart MLS
• 2016-05-24 Listed $154,900 Smart MLS
• 2015-10-31 Listing Removed — Smart MLS
• 2015-06-22 Listed $149,900 Smart MLS
• 2012-12-03 Listing Removed — Smart MLS
• 2012-06-25 Listed $159,900 Smart MLS
• 2012-05-25 Listing Removed — Smart MLS
• 2011-09-16 Listed $169,900 Smart MLS
• 2010-08-01 Listing Removed — Smart MLS
• 2009-08-02 Listed $184,900 Smart MLS
• 2008-12-12 Listing Removed — Smart MLS
• 2008-09-30 Listed $199,900 Smart MLS
• 2007-12-16 Listing Removed — Smart MLS
• 2007-05-11 Listed $210,000 Smart MLS
• 2007-02-04 Listing Removed — Smart MLS
• 2006-12-04 Listed $236,900 Smart MLS
• 2004-06-15 Sold (Public Records) $171,000 Public Records
• 2004-06-04 Sold (MLS) $171,000 Smart MLS
• 2004-03-29 Listed $169,900 Smart MLS
• 2003-12-31 Sold (Public Records) $135,000 Public Records
• 1989-12-28 Sold (Public Records) $129,000 Public Records
• 1987-11-24 Sold (Public Records) $125,000 Public Records

Property tax history

+4.2%/yr

Latest (2023): $4,149 · +3.6% YoY. Source: county tax records.