18-20 Lawrence St · Hartford, CT 06106

$749,111

18 bd · 6.0 ba · 7,548 sqft · MultiFamily · 18 Days on market

Built 1890 Good condition 10,018 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
• Appreciation +5.7/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

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

Turnkey 6-Unit Brick Multifamily | Hartford | 100% Occupied Cash flow from day one. This fully occupied, all-brick 6-unit multifamily property showcases true pride of ownership and is ready for its next investor. Featuring gross annual rents of $92,040 ($7,670/month), stabilized occupancy, long-term tenants, and significant recent capital improvements, the heavy lifting has already been done. Major updates include a newer roof (2019-2020), six new hot water heaters installed in 2026, and high efficiency tankless boiler combi systems added in 2017. The property offers gas heat and cooking throughout, washer/dryer hookups in select units, recessed lighting in common areas, and attractive gray

Key facts

• Newer flat roof
• 6 unit multifamily
• Gas heat

Tags

• 6 UNIT MULTIFAMILY
• 100 PERCENT OCCUPIED
• NEWER FLAT ROOF
• SIX NEW HOT WATER HEATERS
• GAS HEAT
• WASHER DRYER HOOKUPS

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Domestic hot water
• Home design: Multi-family property (5+ units)
• Construction: Brick construction; Brick and stone foundation; Asphalt shingle roof
• Exterior features: Level lot; Brick exterior

Interior

• Bedrooms: 17 total bedrooms
• Bathrooms: 6 full bathrooms
• Heating & cooling: Hot water heat; Natural gas fuel
• Interior features: 35 total rooms; Full basement
• Laundry & utility: Washer/Dryer in some units

What this means for you Summary

Snapshot

• This is a 6 × 3-bed/1.0-bath units multifamily listed at $749k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $5k ($62k/yr) — positive. Per door: $864/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $749k).
• Recommended offer: $738k (1.5% 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: 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: Kennelly School (math 7% / reading 12%, grade F, #522 of 553 statewide, top 95%, 598 students, 85% FRL); Mcdonough Middle School (math 0% / reading 6%, grade F, #175 of 175 statewide, top 100%, 317 students, 83% FRL) — zoned schools at 84% FRL track the district average.
• Market conditions: Rents rising (+2.4%/yr); 61 active listings in the ZIP; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $13,114/mo this rent would consume 340% of the median local household income ($46k/yr) (locally 3400% 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 $15k of equity ($5k loan paydown + $10k appreciation (1.4% local appreciation)).
• At projected returns (1.4% appreciation + 2.4% rent growth), your $210k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$55k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($738k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $737,874 (1.5% 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 1890 — 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 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: 1.75% ✓
• Cap rate: 14.60%
• Cash-on-cash: 29.65%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.38% appreciation · 2.37% rent growth · sell at horizon

5-year hold

• IRR: 32.1%
• Equity multiple: 2.67×
• Total profit: $349,915
• Equity at exit: $270,472

10-year hold

• IRR: 33.7%
• Equity multiple: 5.08×
• Total profit: $855,111
• Equity at exit: $371,117

Cash invested: $209,751 (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 06106

• Home prices YoY: 0.4%
• Rents YoY: 2.4%
• Active inventory: 61
• Price-to-rent: 28.6×

Monthly cashflow live

• Estimated rent: $13,114 high
• Mortgage (P&I): −$3,928
• Tax est. 1.5%: −$936 /mo · $11,237/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,754
• Net cashflow: $5,183

Break-even live

Break-even rent $6,553

Max offer price $749,111

Occupancy floor 55%

Sensitivity live

Price	-10% $5,701	-5% $5,442	+0% $5,183	+5% $4,924	+10% $4,665
Rent	-10% $4,147	-5% $4,665	+0% $5,183	+5% $5,701	+10% $6,219
Rate	-1.0pp $5,560	-0.5pp $5,374	base $5,183	+0.5pp $4,989	+1.0pp $4,792

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

Units	Beds	Baths	Est. rent
▸ 6× units	3	1	$13,116
Total (6 units)			$13,114

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: $187,278
• Closing costs: $22,473
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-22
   days on market $749,111 Active 18 DOM
2. 2026-06-18
   days on market $749,111 Active 15 DOM
3. 2026-06-17
   days on market $749,111 Active 14 DOM
4. 2026-06-16
   days on market $749,111 Active 13 DOM
5. 2026-06-15
   days on market $749,111 Active 12 DOM
6. 2026-06-13
   days on market $749,111 Active 10 DOM
7. 2026-06-13
   days on market $749,111 Active 9 DOM
8. 2026-06-10
   days on market $749,111 Active 7 DOM
9. 2026-06-09
   days on market $749,111 Active 6 DOM
10. 2026-06-08
    days on market $749,111 Active 5 DOM
11. 2026-06-07
    days on market $749,111 Active 4 DOM
12. 2026-06-05
    remarks 699-char remark
13. 2026-06-05
    listed $749,111 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $157,368
• − Mortgage interest: −$41,962
• − Property taxes: −$11,237
• − Insurance: −$3,746
• − Repairs & maintenance: −$12,589
• − Management: −$12,589
• − Depreciation: −$21,792
• Taxable income: $53,453
• Est. tax owed @ 24.0%: −$12,829
• After-tax cash flow: $49,369/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.

Condition & rehab AI · 14 photos

Good 80/100 Cosmetic rehab

This 6-unit multifamily property is in good condition with recent updates and is ready for its next investor. The property has a good roof, clean bathrooms, and well-maintained interiors. The exterior walls could benefit from a fresh coat of paint to improve curb appeal.

Value-add opportunities

• Both Paint the exterior walls — Painting the exterior walls can improve the curb appeal and increase the property's value.
• Both Clean the gutters and downspouts — A clean and functional drainage system is essential for the property's functionality and can prevent water damage.
• Both Inspect and replace any damaged windows — Replacing damaged windows can improve the property's energy efficiency and increase its value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior walls — Painting the exterior walls can improve the curb appeal and increase the property's value. ↑
• Both Clean the gutters and downspouts — A clean and functional drainage system is essential for the property's functionality and can prevent water damage. ↑
• Both Inspect and replace any damaged windows — Replacing damaged windows can improve the property's energy efficiency and increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 36,322
• Household income: $46,304
• Rent vs Own: 76.7% rent · 23.3% own
• Severe rent burden: 3400.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 25% Black 18% White 15% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 42% Dominican 6%
• Common ancestry: Lithuanian 2% Russian 1% Romanian 1%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 46% English-only · Spanish 47% Other Indo-European 3% Other Asian/Pacific 1%

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: ▲ 1.38%
• Current HPI: 314.0899
• Rent YoY: ▲ 2.37%
• 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

1 event — show timeline

• 2026-06-03 Listed $749,111 Smart MLS