180 Willow St · New Haven, CT 06511

$699,500

8 bd · 3.0 ba · 2,842 sqft · MultiFamily public records · 1 Days on market

Built 1900 3,484 sqft lot

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Why this score? — see what drove the D+ 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 +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Prime location rental property. 1St and 2nd floor recently renovated. Deep yardbehind parking. Shared driveway. Solid income. Walk to everything! Eligible foryale homebuyer program.

Key facts

• 3,484 sq ft lot
• 4 parking spots
• Built 1900

Property features AI

Exterior

• Parking: Parking lot and driveway; 4 total parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas domestic hot water
• Home design: Multi-family property (3-family); Multi-family for sale; Light blue exterior color; Shared paved asphalt driveway
• Construction: Frame, concrete and masonry construction; Brick/masonry foundation
• Exterior features: Asphalt shingle roof; Asbestos siding; Sidewalk; Fruit trees; Gutters; Garden area; Exterior lighting; City views; Treed, level lot; Walk to water

Interior

• Bedrooms: 7 bedrooms total
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air heat; Natural gas hot water and heat
• Interior features: Thermostat(s); Window unit cooling; Programmable thermostat; Storm doors and storm windows; Full unfinished basement with interior access, concrete floor, storage, shared basement areas and a full hatchway
• Laundry & utility: Common laundry area in the basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $664 ($8k/yr) — positive. Per door: $221/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $700k).
• Cap rate 7.4% vs local median 4.8% in New Haven — 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 79/100 on livability (#31 in CT, #2,190 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment D, crime F.
• New Haven School District (urban): math 12% / reading 25% proficiency, ranked #147 of 153 in CT (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Worthington Hooker School (math 55% / reading 70%, grade B, #134 of 553 statewide, top 24%, 371 students, 25% FRL); Wilbur Cross High School (math 17% / reading 37%, grade F, #147 of 194 statewide, top 78%, 1,633 students, 76% FRL) — zoned schools average 50% FRL vs 66% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 45% at this address vs 18% district-wide (+26 pts) — the actual schools serving this property are materially stronger than the New Haven School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.6%/yr); 137 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $7,113/mo this rent would consume 142% of the median local household income ($60k/yr) (locally 4999% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 26y ago; this cycle's ask is 268% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $190k; list at $700k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 61% 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 $699,500

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 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.02% ✓
• Cap rate: 7.43%
• Cash-on-cash: 4.07%
• DSCR: 1.18
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $414,932
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
76 Edwards St	0.32mi	7/3.0 (-1)	3,077 (+8%)	11mo	$925,000	$301	57
1380 State St	0.64mi	7/3.0 (-1)	3,101 (+9%)	1mo	$415,000	$134	49
549 Lombard St	0.61mi	8/3.0	3,135 (+10%)	6mo	$350,000	$112	49
590 Whitney Ave	0.49mi	9/3.0 (+1)	3,103 (+9%)	18mo	$799,000	$257	42
485 East St	0.61mi	9/3.0 (+1)	2,616 (-8%)	15mo	$380,000	$145	40
423 Blatchley Ave	0.71mi	9/3.0 (+1)	2,540 (-11%)	14mo	$370,000	$146	32

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 · 2.6% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.62×
• Total profit: $-73,746
• Equity at exit: $104,298

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-20,651
• Equity at exit: $60,480

Cash invested: $195,860 (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 06511

• Home prices YoY: -20.8%
• Rents YoY: 2.6%
• Active inventory: 137
• Price-to-rent: 24.6×

Monthly cashflow live

• Estimated rent: $7,113 high
• Mortgage (P&I): −$3,668
• Tax from tax record: −$996 /mo · $11,950/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,494
• Net cashflow: $664

Break-even live

Break-even rent $6,273

Max offer price $699,500

Occupancy floor 86%

Sensitivity live

Price	-10% $1,060	-5% $862	+0% $664	+5% $466	+10% $268
Rent	-10% $102	-5% $383	+0% $664	+5% $945	+10% $1,226
Rate	-1.0pp $1,016	-0.5pp $842	base $664	+0.5pp $482	+1.0pp $298

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$7,113
Total (3 units)			$7,113

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: $174,875
• Closing costs: $20,985
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
67 Edgewood Ave New Haven, CT	7.0	2.5	2000	$6,100	$3.05	44d	1	1.48mi

Listing history 12 events

1. 2026-06-19
   statusdays on market $699,500 Active 1 DOM
2. 2026-06-18
   days on market $699,500 Coming Soon 13 DOM
3. 2026-06-17
   days on market $699,500 Coming Soon 12 DOM
4. 2026-06-16
   days on market $699,500 Coming Soon 11 DOM
5. 2026-06-15
   days on market $699,500 Coming Soon 10 DOM
6. 2026-06-14
   days on market $699,500 Coming Soon 8 DOM
7. 2026-06-13
   days on market $699,500 Coming Soon 7 DOM
8. 2026-06-10
   days on market $699,500 Coming Soon 5 DOM
9. 2026-06-09
   days on market $699,500 Coming Soon 4 DOM
10. 2026-06-08
    days on market $699,500 Coming Soon 3 DOM
11. 2026-06-07
    remarks 691-char remark
12. 2026-06-07
    listed $699,500 Coming Soon 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: $11,950 · $996/mo
• Projected year-2 tax: $13,460 · $1,122/mo
• Expected delta: +$1,510/yr (+$126/mo · 12.6%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $85,356
• − Mortgage interest: −$39,183
• − Property taxes: −$11,950
• − Insurance: −$3,498
• − Repairs & maintenance: −$6,828
• − Management: −$6,828
• − Depreciation: −$20,349
• Taxable loss: −$3,280
• Est. tax savings @ 24.0%: +$787
• After-tax cash flow: $8,752/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: New Haven School District
• NCES district ID: 0902790
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 25% ▼ -10.00%
• Median HH income: $38,058
• Composite: 15.48/100
• National rank: #9308
• State rank: #147 of 153 in CT

Livability — New Haven

• Score: 79/100
• State rank: #31
• US rank: #2190

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Haven, CT
• County: New Haven County · 688,236 people
• City population: 132,813
• Metro: New Haven-Milford, CT
• Population (ZIP): 54,730
• Household income: $59,969
• Rent vs Own: 80.3% rent · 19.7% own
• Severe rent burden: 4999.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Black 34% White 32% Hispanic / Latino 21% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 1% Russian 1%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 74% English-only · Spanish 15% Chinese 3% Other Indo-European 2%

Political lean MEDSL · South Central Connecticut

• 2024 margin: Strong D (+20.1) · D 59.0% · R 38.9% · Other 2.1%
• All cycles: 2024: D+20.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.05%
• Current HPI: 328.1353
• Rent YoY: ▲ 2.60%
• Metro: New Haven-Milford, 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

+284.3% since first listed

7 events — show timeline

• 2026-06-05 Coming Soon $699,500 Smart MLS
• 2001-11-29 Sold (MLS) $190,000 Smart MLS
• 2001-08-21 Listed $189,900 Smart MLS
• 2000-12-29 Sold (MLS) $87,000 Smart MLS
• 2000-02-14 Listed $125,000 Smart MLS
• 1989-10-16 Sold (Public Records) $239,500 Public Records
• 1989-01-30 Sold (Public Records) $182,000 Public Records

Property tax history

+2.9%/yr

Latest (2023): $11,950 · -6.4% YoY. Source: county tax records.