7 Portland St · Middletown, CT 06457

$169,900

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 8 Days on market

Built 1891 1,742 sqft lot Est $264k · 36% under ↓ 6% since listing

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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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.8/10.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

WELL MAINTAINED 3 BEDROOM, ONE BATH HOME WITH MANY RECENT UPDATES. FEATURES INCLUDE A LARGE EAT-IN KITCHEN, SPACIOUS LIVING ROOM. MAJOR IMPROVEMENTS INCLUDE A ROOF, CHIMNEY AND GUTTERS THAT ARE ONLY TWO YEARS OLD. ALONG WITH FURNACE AND OIL TANK THAT ARE JUST ONE YEAR OLD. MAIN SEWER REPLACED ONE YEAR AGO. A SOLID HOME THAT HAS BEEN CARED FOR OVER THE YEARS AND OFFERS AND EXCELLENT OPPORTUNITY FOR OWNER OCCUPANTS OR INVESTORS ALIKE. OWNER PREFERS TO SELL AS IS

Key facts

• 1,742 sq ft lot
• 2 parking spots
• Built 1891

Property features AI

Exterior

• Parking: Off-street parking; 2 parking spaces
• Utilities: Public water connected; Public sewer (in street); Hot water: Other
• Home design: Single family home
• Construction: Frame construction; Stone foundation; Asphalt shingle roof; Built living area about 1440
• Exterior features: Level lot; Vinyl siding

Interior

• Kitchen: Oven/Range; Range hood
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heat (oil fuel)
• Interior features: 6 total rooms; Full basement with hatchway; Attic with hatch access
• Laundry & utility: Laundry on the first floor; Washer; Dryer; Oil-fired hot water heating (fuel tank in basement)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 8.9% vs local median 3.7% in Middletown — 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 81/100 on livability (#17 in CT, #1,390 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: commute F.
• Middletown School District (urban): math 24% / reading 44% proficiency, ranked #113 of 153 in CT (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Macdonough School (math 32% / reading 42%, grade F, #318 of 553 statewide, top 60%, 227 students, 66% FRL); Beman Middle School (math 19% / reading 44%, grade F, #134 of 175 statewide, top 77%, 968 students, 49% FRL); Middletown High School (math 25% / reading 52%, grade F, #111 of 194 statewide, top 57%, 1,214 students, 49% FRL) — zoned schools average 55% FRL vs 38% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 147 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 278 units permitted in Lower Connecticut River Valley Planning Region in 2024 (89 in 5+ unit buildings).
• This rent runs 30% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,900

Questions for the listing agent

1. Built in 1891 — 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. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.31%
• DSCR: 1.41
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $263,520
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Rome Ave	0.18mi	3/1.0	1,344 (-7%)	6mo	$246,000	$183	76
15 Miller St	0.11mi	3/1.5	1,552 (+8%)	18mo	$260,000	$168	65
46 Johnson St	0.42mi	3/2.0	1,480 (+3%)	9mo	$319,900	$216	64
19 Bacon Ave	0.36mi	4/2.0 (+1)	1,632 (+13%)	13mo	$260,000	$159	41

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 · 0.22% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.80×
• Total profit: $-9,420
• Equity at exit: $25,333

10-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $1,108
• Equity at exit: $14,690

Cash invested: $47,572 (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 06457

• Rents YoY: 0.2%
• Active inventory: 147
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,007 high
• Mortgage (P&I): −$891
• Tax from tax record: −$254 /mo · $3,051/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $369

Break-even live

Break-even rent $1,539

Max offer price $169,900

Occupancy floor 77%

Sensitivity live

Price	-10% $465	-5% $417	+0% $369	+5% $321	+10% $273
Rent	-10% $211	-5% $290	+0% $369	+5% $448	+10% $528
Rate	-1.0pp $455	-0.5pp $412	base $369	+0.5pp $325	+1.0pp $280

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Portland St Middletown, CT	4.0	1.0	1000	$1,495	$1.50	4d	1	0.02mi
22 Green St Middletown, CT	2.0	1.0	1000	$1,400	$1.40	45d	1	0.22mi
582 Main St Middletown, CT	3.0	1.0	1200	$2,000	$1.67	3d	1	0.27mi
39 Grand St Unit 3 Middletown, CT	3.0	1.0	1076	$2,000	$1.86	3d	1	0.27mi
40 Ferry St Unit 4A Middletown, CT	2.0	2.0	1100	$1,750	$1.59	3d	1	0.28mi
40 Ferry St Middletown, CT	2.0	2.0	1100	$1,750	$1.59	16d	1	0.28mi
60 Ferry St Unit 1A Middletown, CT	2.0	1.0	950	$1,750	$1.84	16d	1	0.28mi
3 Clinton Ave Unit 3 CLINTON Middletown, CT	3.0	1.0	1200	$1,450	$1.21	23d	1	0.30mi
57 Ferry St Unit 1 Middletown, CT	3.0	1.5	1500	$2,000	$1.33	12d	1	0.30mi
103 Grove St Unit 3 Middletown, CT	2.0	1.0	1000	$1,700	$1.70	3d	1	0.33mi
103 Spring St Middletown, CT	4.0	1.0	1602	$2,500	$1.56	45d	1	0.33mi
580 High St Middletown, CT	3.0	1.0	1466	$1,900	$1.30	3d	1	0.34mi
505 Main St Middletown, CT	3.0	2.0	1263	$2,000	$1.58	3d	1	0.36mi
652 High St Middletown, CT	2.0	1.0	1100	$1,600	$1.45	45d	1	0.37mi
650 High St Unit 2 Middletown, CT	2.0	1.0	900	$1,500	$1.67	25d	1	0.37mi
94 Liberty St Middletown, CT	3.0	1.5	978	$1,850	$1.89	45d	1	0.39mi
128 Grand St Unit 3 Middletown, CT	2.0	1.0	1000	$1,650	$1.65	45d	1	0.43mi
3 Quarry Ln Unit 1 Portland, CT	2.0	1.0	900	$1,800	$2.00	12d	1	0.53mi
173 Liberty St Middletown, CT	2.0	1.0	1172	$1,500	$1.28	18d	1	0.55mi
59 Park Pl Middletown, CT	2.0	1.0	929	$1,700	$1.83	22d	1	0.59mi
200 Main St Unit 1 Portland, CT	3.0	2.0	1300	$2,227	$1.71	3d	1	0.66mi
200 Main St Unit 1 Portland, CT	3.0	2.0	1300	$2,227	$1.71	12d	1	0.66mi
166 College St Unit 2 Middletown, CT	2.0	1.0	975	$1,700	$1.74	18d	1	0.67mi
61 Main St Unit 2 Middletown, CT	2.0	1.0	913	$1,800	$1.97	46d	1	0.75mi
252 Main St Apt 1 Portland, CT	3.0	1.0	1200	$1,850	$1.54	3d	1	0.83mi
85 Marlborough St Unit 426 Portland, CT	2.0	2.0	1373	$3,576	$2.60	45d	1	0.83mi
260 Main St Unit 2 Portland, CT	3.0	1.0	1100	$2,350	$2.14	5d	1	0.85mi
184 Rose Cir Middletown, CT	1.0–3.0	1.0–1.5	1220	$2,000	$1.64	3d	6	0.86mi
184 Marlborough St Portland, CT	2.0	1.5	1000	$1,750	$1.75	12d	1	1.00mi
1100 Springside Ln Middletown, CT	1.0–2.0	1.0–2.5	1084	$3,547	$3.27	3d	21	1.01mi
36 Walnut St Unit 2 Middletown, CT	2.0	1.0	1200	$1,400	$1.17	45d	1	1.09mi
11 Huber Ave Middletown, CT	3.0	1.0	1102	$2,300	$2.09	25d	1	1.11mi
131 Eastern Dr Middletown, CT	2.0	1.5	1442	$1,750	$1.21	3d	1	1.25mi
207 E Main St Middletown, CT	4.0	1.0	1207	$2,200	$1.82	5d	1	1.33mi
305 S Main St Middletown, CT	1.0–2.0	1.0	950	$1,850	$1.95	3d	1	1.37mi
27 Woodside Cir Unit 37 Middletown, CT	3.0	2.0	1600	$2,300	$1.44	45d	1	1.37mi
73 Silver St Middletown, CT	4.0	2.0	1322	$2,500	$1.89	25d	1	1.42mi
43 McKenzie St Middletown, CT	2.0	1.0	981	$1,800	$1.83	45d	1	1.42mi

Listing history 6 events

1. 2026-06-21
   days on market $169,900 Active 8 DOM
2. 2026-06-18
   days on market $169,900 Active 5 DOM
3. 2026-06-17
   days on market $169,900 Active 4 DOM
4. 2026-06-16
   days on market $169,900 Active 3 DOM
5. 2026-06-15
   remarks 464-char remark
6. 2026-06-15
   listed $169,900 Active 2 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: $3,051 · $254/mo
• Projected year-2 tax: $3,343 · $279/mo
• Expected delta: +$292/yr (+$24/mo · 9.6%)

ⓘ 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 6/10 Major 7 d/yr ≥99°F today · 17 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: $24,080
• − Mortgage interest: −$9,517
• − Property taxes: −$3,051
• − Insurance: −$850
• − Repairs & maintenance: −$1,926
• − Management: −$1,926
• − Depreciation: −$4,943
• Taxable income: $1,867
• Est. tax owed @ 24.0%: −$448
• After-tax cash flow: $3,983/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: Middletown School District
• NCES district ID: 0902490
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $60,733
• Composite: 30.47/100
• National rank: #6224
• State rank: #113 of 153 in CT

Livability — Middletown

• Score: 81/100
• State rank: #17
• US rank: #1390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, CT
• County: Middlesex County · 63,941 people
• City population: 46,720
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 46,720
• Household income: $79,463
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 2196.0

Population outlook (Lower Connecticut River Valley County) Hauer SSP2

• By 2040: 188,651

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 13% Hispanic / Latino 12% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7%
• Common ancestry: Romanian 9% Lithuanian 5% Slovak 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 82% English-only · Spanish 6% Other Indo-European 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Lower Connecticut River Valley

• 2024 margin: D (+13.4) · D 55.9% · R 42.4% · Other 1.7%
• All cycles: 2024: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -470.20%
• Current HPI: 255.1597
• Rent YoY: ▲ 0.22%
• 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

-5.6% since first listed

2 events — show timeline

• 2026-06-13 Price Changed $169,900 Smart MLS
• 2026-06-13 Listed $179,900 Smart MLS

Property tax history

+2.4%/yr

Latest (2022): $3,051 · +0.0% YoY. Source: county tax records.