87 Meadowbrook Road, West Hartford

87 Meadowbrook Rd, West Hartford

This is the West Hartford Center home you’ve been waiting for!

An open concept plan gives the main level of 87 Meadowbrook a spacious and comfortable feel. The living room includes wainscoting and a gas fireplace, while the dining room is perfect for entertaining. The updated kitchen is finished with stylish black cabinets that complement the stainless appliances and granite counters. A cleverly designed space off the dining room provides access to the back deck with space for a desk or buffet. The main level also includes a mud room and an updated powder room.

Upstairs, the en-suite master bathroom is perfection. It includes a vaulted ceiling, two vanities, a water closet, a glass shower enclosure, and heated marble floors. The master also includes a walk-in closet outfitted with organizers. Two additional bedrooms and a spacious bathroom complete the upper level.

Downstairs, a heated bonus room with two windows and a door to the back yard provides a bright and flexible space. The lower level also houses the laundry, the garage, and the gas mechanicals.

The outdoor space at 87 Meadowbrook is just as attractive as the indoor space. Spend your summer relaxing on the main level deck, which spans the entire width of the home. The deep back yard is very sunny, and perfect for gardening and other fun.

Don’t miss these great features, plus a location that is about a quarter mile from West Hartford Center and Blue Back Square!

87 Meadowbrook is offered at $419,900. If you’d like to see this home, please have your agent arrange a showing or call Kyle at 860-655-2922 to schedule a visit. More details are available.

125 Ridgewood Road, West Hartford

125 Ridgewood Rd, West Hartford

If you want updates, space, and a terrific location, 125 Ridgewood Road is the home for you. The current owners have made many thoughtful cosmetic and mechanical improvements that you’ll enjoy.

The first floor features a show stopper chef’s kitchen with Thermador and Subzero appliances, maple cabinetry, stone counters, beautiful tilework, dedicated eat-in space, and a pantry. It opens to a bright family room with vaulted ceiling, skylight, exposed beams, built-in cabinetry, and gas fireplace.

There is plenty of space to spread out, as the first floor also offers a traditional living room with gas fireplace and built-ins, formal dining room, a dedicated office, sunroom, laundry room, mudroom, full bathroom, and an additional powder room.

Upstairs, the master bedroom is a retreat. The remodeled spa bath offers double vanities, a tiled shower, and beautiful soaker tub. The walk-in closet is its own room with a convenient organization system. There are three generously-sized additional bedrooms, a hallway bathroom, and a lofted space open to the family room below. The third floor features a large fifth bedroom and attic access.

The home has replacement windows throughout, a high efficiency gas boiler, new air conditioning, and storage galore. The 3-car attached garage has a loft area above for even more storage room.

The backyard is level and sunny, perfect for outside time.

Close to West Hartford Center, Corbins Corner, and highway access, you’ll love its convenient location.

125 Ridgewood Road is offered at $675,000. If you’d like to see this home, please have your agent arrange a showing or call Amy at 860-655-2125 to schedule a visit. More details are available.

27 Fairfield Road, West Hartford

27 Fairfield Rd - West Hartford

This sweet colonial, located in the Norfeldt/King Philip/Hall district, is ready for its next owners. With newly refinished hardwood floors and fresh paint throughout, all you’ll need to do is move right in.

The first floor offers a classic layout featuring a living room with wood burning fireplace and a formal dining room. The kitchen has plenty of storage and workspace, as well as room for an eat-in table. A powder room completes the first floor.

Upstairs there are three bedrooms with nicely sized closets, as well as a fully remodeled bathroom.

The basement is great for storage or could be finished, if desired. Laundry shares this space.

Enjoy the mature plantings in the oversized, level yard with paver patio. It’s a wonderful space to unwind, play, and garden.

The one-car attached garage is accessed through a bright breezeway. Relax in this room 3 seasons a year, overlooking your outdoor space.

The home has replacement windows throughout, 2 window-mounted air conditioning units which cool the space, a new refrigerator, and many updated lighting fixtures. A must see!

27 Fairfield Road is offered at $289,000. If you’d like to see this home, please have your agent arrange a showing or call Amy at 860-655-2125 to schedule a visit. More details are available.

227 Penn Drive, West Hartford

227 Penn - West Hartford

This thoughtfully updated home in the Morley/King Philip/Hall district awaits its new owner.

A showstopper kitchen remodel is the focal point of the first floor, which has opened the entire kitchen and dining space. An oversized center island is perfect for meal prep and congregating. There are granite counters, stainless steel appliances, double sinks, tile flooring and backsplash, and a beautiful greenhouse window. The large dining area accommodates formal or informal gatherings.

A sizeable living room flows well with the kitchen and features a bay window and gas fireplace.

Another fantastic addition is the new full bathroom with tiled shower and floor, large vanity cabinet, and built-in storage.

A bright sunroom completes the first floor.

Upstairs, the master bedroom is spacious and features double closets. There are two additional bedrooms, a classic full bath with both a tub and shower, and a large unfinished room, perfect for storage.

The basement offers a partially finished space with a fireplace, the laundry room, and a storage area.

Outside, a level backyard has a nicely sized deck for entertaining, space for play and gardening, as well as a useful storage shed.

The home has a new roof, newer high efficiency gas boiler, replacement windows throughout, hardwood floors, and a 1-car attached garage. There’s really nothing to do but move in and enjoy the updates!

227 Penn Drive is offered at $339,900. If you’d like to see this home, please have your agent arrange a showing or call Amy at 860-655-2125 to schedule a visit. More details are available.

Is Money Less Green in Hartford?

I’m perplexed. It appears that money available to be earned in Hartford is less valuable than money that can be earned in West Hartford. Even though that goes against the basic idea that a dollar is a dollar.

We have a 2-unit building for sale in Hartford that is quite close to the West Hartford town line. For those interested in the specifics, it’s at 307 New Park Avenue, which is across the street from the movie theater and just south of I84.

307-309 New Park Ave, Hartford

That location is not closely linked to any Hartford neighborhood. In fact, the closest residential enclave to the homes on this triangle of land is in West Hartford.

What confuses me is that investor buyers aggressively pursue properties in West Hartford, but they don’t seem interested in a building a block away that is similar in layout and vintage, and has better economics.

Only four 2-unit buildings sold south of the highway in West Hartford over the past year. The table below compares those buildings to our listing.

2019-01-29 Comparing Two-Unit Deals

Rental income is not available for all the properties on the list. However, the actual rent our listing generates is in line with two properties that sold in the $260,000s. We’re only asking $209,900 … and our property taxes are much lower. Our listing has the most favorable ratio of income to expenses, by a long shot.

Why the big difference in value?

It could be that the buildings have different attractiveness to owner-occupants, but most West Hartford buildings are purchased as investments. So the buyer is unlikely to live in any of these properties.

The tenants pay their own utilities in our listing, so that’s not a hidden expense to the investor owner that is holding back our price.

The condition of the property is fine, so it’s not like we’re marketing a place in poor shape. Tenants generally ensure that the rent they pay reflects the condition anyway, and we know the rents.

Investments in the Hartford multi-family market have even shown better appreciation over the past few years. Median prices increased 32% compared to 4%.

2019-01-29 Two-Unit Deals in West Hartford versus Hartford

It is interesting to note that our $209,900 asking is a lower price than any West Hartford 2-unit building sold for since 2016.

I must be missing something in this analysis…
A.) The building is barely outside of West Hartford.
B.) Actual tenants pay strong monthly rents and utilities.
C.) Market appreciation has been strong in Hartford.

There is money to be made by operating 307 New Park Avenue as an investment property. More money than buying a similar vintage 2-unit building a block away in West Hartford.

Is money less green in Hartford?

Note: All data is from the CTMLS, and deemed reliable but not guaranteed. It represents multi-unit properties marketed as 2-unit buildings. One West Hartford property that was a commercial use simultaneously marketed as a 2-unit was removed from the data set.