Hartford has a building type all its own: the Perfect Six, a three-story brick building with two apartments per floor. Along with other early 1900s brick walk-ups, it gives investors a steady supply of six-unit buildings at prices well below most of Connecticut.
In short: LendingStreet finances 5 to 8 unit rental buildings in Hartford, including Perfect Sixes, with DSCR loans that qualify on the building's rent. No W-2s or tax returns are needed, LLC borrowers are standard and loans start at $150,000 with no stated maximum. Because Hartford's mill rate is high, the tax line carries a lot of weight in the ratio, so we size the loan on a realistic bill.
Perfect Sixes were built in large numbers in the early 1900s for Hartford's growing workforce. You find them in Frog Hollow, Parkville, Barry Square, the South End and around Park Street, often on blocks lined with similar buildings. Asylum Hill and the West End have larger brick walk-ups and Victorian houses divided into apartments.
Tenants include insurance and health care workers, students at Trinity College and the University of Connecticut's downtown campus, and state employees near the Capitol.
The six-unit layout is simple and efficient, but many buildings have original systems, flat roofs and rear porches that need attention.
| Area | Typical 5-8 unit stock | What to check |
|---|---|---|
| Frog Hollow, Parkville | Perfect Sixes, brick walk-ups | Porches, heating, code history |
| Barry Square, South End | Perfect Sixes and brick blocks | Flat roofs, masonry |
| Asylum Hill | Brick apartment buildings, divided Victorians | Parking, unit mix |
| West End | Large houses divided into apartments | Higher prices per unit |
A DSCR loan on a five to eight unit building qualifies on the building's rent, not your income. We add up the leases or market rents for every unit and divide by the full monthly payment: principal, interest, property taxes, insurance and any association dues. The standard minimum is 1.0x, and sub-1.0 programs exist for buildings that fall a little short.
We treat 1 to 8 units as residential, so a six-family is underwritten as a rental, not as a commercial deal. Purchases go up to 80% LTV on some programs, but maximum leverage on 5-8 units is often lower and varies by program and loan size. Cash-out refinances go up to 75% LTV. Loans start at $150,000 with no stated maximum, 30-year terms are available and the minimum credit score is 620. Buildings with nine or more units move to our multifamily program.
Rents in Hartford are modest relative to the coast, so a small change in the tax bill or insurance quote moves the ratio. We use the leases in place and a market rent estimate for vacant units.
Connecticut towns tax property on assessed value, set at 70% of market value, multiplied by the mill rate. Hartford's mill rate has long been among the higher ones in the state, so taxes take a larger share of rent than on a similar building in the suburbs. Look up the current assessment and mill rate before you make an offer, and watch for revaluation years.
Connecticut's real estate conveyance tax, with state and municipal portions, is customarily paid by the seller. Buyers pay title, recording and attorney fees plus prepaid taxes and insurance.
Connecticut does not have rent control, but state law requires larger towns and cities, including Hartford, to have a fair rent commission. Tenants can ask the commission to review rent increases they consider excessive, and the commission can order changes. Plan rent increases that you can explain.
Connecticut also regulates lead in pre-1978 housing, with abatement required in many cases when a child with elevated blood lead lives in a unit. Ask about any open lead orders and budget for testing.
Hartford enforces housing code through city inspectors, so check for open violations before closing.
This example is illustrative and not a quote. An investor buys a Perfect Six in Parkville for $780,000. The six units rent for about $1,350 each, or $8,100 a month. Taxes are budgeted at $1,700 a month, reflecting Hartford's mill rate, and insurance at $550.
At 75% LTV, the loan is $585,000. On a 30-year fixed, principal and interest is about $4,090, the full payment with taxes and insurance is about $6,340, and DSCR is about 1.28x. At 70% LTV, the loan is $546,000, principal and interest is about $3,818, the payment is about $6,068 and DSCR is about 1.33x.
The tax line is more than a fifth of the rent, which is why Hartford buildings that look strong on price can be closer on the ratio. Both cases still clear 1.0x; the 70% loan needs about $39,000 more at closing.
| Item | 75% LTV | 70% LTV |
|---|---|---|
| Gross monthly rent | $8,100 | $8,100 |
| Loan amount | $585,000 | $546,000 |
| Principal and interest | $4,090 | $3,818 |
| Property taxes | $1,700 | $1,700 |
| Insurance | $550 | $550 |
| Total monthly payment | $6,340 | $6,068 |
| DSCR | About 1.28x | About 1.33x |
Perfect Sixes share common wear items. Rear wooden porches carry the secondary egress, flat roofs need regular maintenance, and many buildings still run on older steam or oil heat.
A complete package gets a faster and clearer answer. Most 5-8 unit files need the following.
Our investor loans are business-purpose loans on non-owner-occupied property. We finance DSCR loans on 5-8 unit rentals across Hartford and nearby towns such as West Hartford, East Hartford and New Britain.
Send the address, price, rent roll and target leverage through the form below, or call (877) 298-1001. We run the ratio on a realistic tax and insurance figure at a few loan amounts and come back with options. If the building needs work before it can qualify on rent, a bridge loan first and a DSCR refinance after is a common path.
A Hartford building type: a three-story brick building with two apartments per floor, built in large numbers in the early 1900s. With six units, it is a residential DSCR loan with us.
Taxes are part of the monthly payment. Hartford's higher mill rate means a larger tax line, which lowers the ratio. Use the current assessment and mill rate, not a guess.
A city body that can review rent increases on tenant complaint. Connecticut requires larger towns to have one. It does not cap rents, but it can order changes to increases it finds excessive.
Residential. We treat buildings of 1 to 8 units as residential and finance them with DSCR loans that qualify on rent. Buildings with nine or more units move to commercial multifamily financing.
No. A DSCR loan qualifies on the building's rent, with no W-2s or tax returns. You will need a 620 or higher credit score, the rent roll and leases, and bank statements showing down payment and reserves.
There are options. A lower loan amount raises the ratio, sub-1.0 DSCR programs exist for buildings that are close, and rents that are below market can sometimes be addressed at lease renewal before a refinance.
Yes. DSCR cash-out refinances go up to 75% LTV, often lower on 5-8 units, and the rent must still cover the new, larger payment. Seasoning requirements vary by program.
No. Our investor loans are business-purpose loans on non-owner-occupied property, so the building you finance with us cannot be your home.
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