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Property profile & analytics
OFF-MARKET
Estimated value
$845,000
Residential income homes
128 Newfield St Middletown, CT 06457-2528
Individually Owned
22-yr Hold
~
Est. High Equity
Property ID
US15-0610279
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1900
Total area
8,367 SF
Lot
9.18 ac (399,881 SF)
Zoning code
M
APN
MTWN M:21 L:0196
UPID
US15-0610279
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$896k
Blend (final)
Blend
$845k
Owner & transaction history
Peter B Nelson · 1 yrs held
Peter B Nelson
since 2025
Last sale
$5,750
1 recorded transaction
Zoning & alternative use
M · Middletown, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
erty line higher than 3 ft. above the ground. §1.9 Zoning Districts. For the purpose of this Code the City of Middletown is hereby divided into the following zones: R-15, R-30, R-45, R-60, R-1 RPZ Residential Pre-zoning M Multi-Family Dwelling Units Zoning Code of the City of Middletown, Connecticut I-5 MXR Mixed Use Residential MXC Mixed Use Commercial MXI…
Zone name
Multi Family Dwelling Units
General category
RESIDENTIAL
Zone area
414.10 ac
Source
Zoning Code
Top alternative use upside
Commercial (general)
$925,000
+4.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$890,000
Current use
COMMERCIAL (GENERAL)
$925,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$845k
Range $761k – $930k · ±10% · vs last sale $6k (May 19 2025)
Last sale anchor
$6k
May 19 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$101 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$21,253
Tax year 2023
Assessed value
$605,500
Assessed 2023
Previous assessed
$605,500
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$98,690
Assessed improvement
$506,810
Applied tax rate
250.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1900
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
3
Units
4
Rooms
23
Bathrooms
9
Total area
8,367 SF
Lot
9.18 ac (399,881 SF)
Zoning code
M
APN
MTWN M:21 L:0196
UPID
US15-0610279
Jurisdiction
MIDDLETOWN
Zoning & alternative use
M · Middletown, CTZoning M · permitted uses
M · Middletown, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
erty line higher than 3 ft. above the ground. §1.9 Zoning Districts. For the purpose of this Code the City of Middletown is hereby divided into the following zones: R-15, R-30, R-45, R-60, R-1 RPZ Residential Pre-zoning M Multi-Family Dwelling Units Zoning Code of the City of Middletown, Connecticut I-5 MXR Mixed Use Residential MXC Mixed Use Commercial MXI Mixed Use Industry PRD Planned Residential Development B-1 Central Business B-2 G
Zone name
Multi Family Dwelling Units
General category
RESIDENTIAL
Zone area
414.10 ac
Source
Zoning Code
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$890,000
COMMERCIAL (GENERAL)
Est. value
$925,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
1
Units
4
Rooms
23
Bathrooms
9
Lot
9.18 ac
Current owner
From public records · entity-resolved
Peter B Nelson
Individual
Mailing address
128 NEWFIELD STR, MIDDLETOWN, CT 06457-2528
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Peter B Nelson
—
Deed Of Trust
related
$250,000 · Rbs Citizens NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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