102 Highland St · West Haven, CT 06516

$375,000

3 bd · 2.0 ba · 1,860 sqft · MultiFamily public records · 8 Days on market

Built 1957 7,405 sqft lot $202/sqft · 16% below area Est $447k · 16% under

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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 +24.0/30.0
• ARV discount +14.7/15.0
• DSCR +7.7/10.0
• 1% rule +6.7/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Hud case# 061-116148 property to be sold in as is condition for more inf goto internet http://www.Hud.Org/ne/ all bids to be made on internet uninsured. For more info call mark 203-729-7458

Key facts

• Newer windows
• Two family home
• Major updates

Tags

• TWO FAMILY HOME
• UPDATED FIRST FLOOR UNIT
• HARDWOOD FLOORS
• WOOD BURNING FIREPLACE
• MAJOR UPDATES
• NEWER WINDOWS

Property features AI

Finance

• Financial info: Assessed value listed (public record)

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water connected; Public sewer connected; Domestic hot water
• Home design: Multi-family 2-family property
• Construction: Frame construction; Concrete foundation; Built with living area of 1860 (public record)
• Exterior features: Level lot; Aluminum siding; Asphalt shingle roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating; Window AC unit(s); Natural gas heat
• Interior features: 9 total rooms; Full, partially finished basement; Has attic with access via hatch
• Laundry & utility: Washer/dryer in some units; Washer and dryer located in basement for first-floor unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive. Per door: $367/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Cap rate 8.6% vs local median 4.3% in West 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 83/100 on livability (#6 in CT, #915 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities D.
• West Haven School District (suburban): math 26% / reading 38% proficiency, ranked #121 of 153 in CT (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington School (math 22% / reading 27%, grade F, #424 of 553 statewide, top 78%, 372 students, 72% FRL); West Haven High School (math 23% / reading 39%, grade F, #135 of 194 statewide, top 70%, 1,780 students, 53% FRL).
• Market conditions: Rents rising (+3.9%/yr); 146 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $4,375/mo this rent would consume 71% of the median local household income ($74k/yr) (locally 2671% 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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 27y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $81k; list at $375k implies a 362% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% 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 $375,000

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 1957 — 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. 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.
7. 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.
8. 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: 1.17% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• GRM: 7.1

CMA / ARV

• ARV (median comp): $446,973
• List price: $375,000
• Delta: -16.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 Center St	0.59mi	3/2.0	1,978 (+6%)	10mo	$454,000	$230	54
571 First Ave	0.69mi	4/2.5 (+1)	1,923 (+3%)	14mo	$437,000	$227	44
959 First Ave	0.64mi	4/2.0 (+1)	2,060 (+11%)	10mo	$450,000	$218	39
994 Campbell Ave	0.45mi	4/2.5 (+1)	2,100 (+13%)	20mo	$430,000	$205	34
1049 Campbell Ave	0.59mi	4/2.0 (+1)	2,118 (+14%)	20mo	$510,000	$241	27

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 · 3.9% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.91×
• Total profit: $-9,934
• Equity at exit: $55,914

10-year hold

• IRR: 8.2%
• Equity multiple: 1.65×
• Total profit: $68,770
• Equity at exit: $32,423

Cash invested: $105,000 (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 06516

• Rents YoY: 3.9%
• Active inventory: 146
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $4,375 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$600 /mo · $7,205/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$919
• Net cashflow: $733

Break-even live

Break-even rent $3,447

Max offer price $375,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,376
Total (2 units)			$4,375

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
837 Washington Ave West Haven, CT	2.0	1.0	2050	$1,800	$0.88	23d	1	0.33mi
352 Elm St Unit 1st fl West Haven, CT	3.0	1.0	1345	$2,300	$1.71	43d	1	0.38mi
271 Elm St Unit 2 West Haven, CT	4.0	2.0	1435	$3,000	$2.09	23d	1	0.44mi
173 Terrace Ave West Haven, CT	3.0	2.0	1392	$2,800	$2.01	2d	1	0.53mi
34 Homeside Ave West Haven, CT	3.0	1.0	1264	$2,700	$2.14	11d	1	0.63mi
201 Center St West Haven, CT	3.0	2.0	1376	$2,400	$1.74	43d	1	0.64mi
50 Wood St West Haven, CT	3.0	1.0	2314	$2,400	$1.04	2d	1	0.70mi
60 Baggott St West Haven, CT	3.0	1.0	1242	$2,300	$1.85	23d	1	0.71mi
203 Main St Unit 2nd fl West Haven, CT	4.0	1.0	1967	$2,400	$1.22	23d	1	0.82mi
69 Center St West Haven, CT	3.0	2.0	1530	$2,000	$1.31	14d	1	0.86mi
433 3rd Ave Unit 2 West Haven, CT	2.0	1.0	1722	$1,700	$0.99	43d	1	0.95mi
272 1st Ave Unit 1st floor West Haven, CT	3.0	1.0	1250	$2,100	$1.68	43d	1	1.07mi
87 Antrim St West Haven, CT	3.0	1.0	1250	$2,500	$2.00	43d	1	1.16mi
3 Bayview Pl Unit 2nd Floor West Haven, CT	3.0	1.0	1276	$2,600	$2.04	2d	1	1.18mi
280 3rd Ave Unit 2nd fl West Haven, CT	4.0	2.0	1819	$2,500	$1.37	2d	1	1.20mi
188 Jaffrey St West Haven, CT	3.0	1.5	1700	$3,000	$1.76	11d	1	1.30mi
34 Bristol St Unit 3 West Haven, CT	3.0	1.0	1370	$2,400	$1.75	43d	1	1.32mi
5 Oak Pl West Haven, CT	3.0	1.0	2300	$1,900	$0.83	2d	1	1.32mi
64 Savin Park West Haven, CT	3.0	2.0	1386	$2,995	$2.16	14d	1	1.37mi
133 Harbour Close New Haven, CT	2.0	2.5	1587	$3,500	$2.21	2d	1	1.40mi
69 Harbour Close #69 New Haven, CT	2.0	2.5	1777	$3,500	$1.97	2d	1	1.42mi
69 Adeline St Unit D New Haven, CT	3.0	1.5	2600	$2,250	$0.87	23d	1	1.43mi
48 Hurlburt St Unit 3 New Haven, CT	2.0	1.0	1250	$1,650	$1.32	3d	1	1.44mi

Listing history 4 events

1. 2026-05-12
   listed $375,000 Active 1242-char remark
2. 2000-06-01
   soldstatus $81,200 189-char remark

   Show marketing remark (189 chars)

   Hud case# 061-116148 property to be sold in as is condition for more inf goto internet http://www.Hud.Org/ne/ all bids to be made on internet uninsured. For more info call mark 203-729-7458

3. 1999-11-04
   listed $80,700 189-char remark

   Show marketing remark (189 chars)

   Hud case# 061-116148 property to be sold in as is condition for more inf goto internet http://www.Hud.Org/ne/ all bids to be made on internet uninsured. For more info call mark 203-729-7458

4. 1992-11-05
   soldstatus $132,000

ⓘ 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: $7,205 · $600/mo
• Projected year-2 tax: $7,615 · $635/mo
• Expected delta: +$410/yr (+$34/mo · 5.7%)

ⓘ 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 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,500
• − Mortgage interest: −$21,006
• − Property taxes: −$7,205
• − Insurance: −$1,875
• − Repairs & maintenance: −$4,200
• − Management: −$4,200
• − Depreciation: −$10,909
• Taxable income: $3,105
• Est. tax owed @ 24.0%: −$745
• After-tax cash flow: $8,051/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: West Haven School District
• NCES district ID: 0904950
• Math proficiency: 26% ▼ -13.00%
• Reading proficiency: 38% ▼ -11.00%
• Median HH income: $52,405
• Composite: 28.05/100
• National rank: #6840
• State rank: #121 of 153 in CT

Livability — West Haven

• Score: 83/100
• State rank: #6
• US rank: #915

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Haven, CT
• County: New Haven County · 688,236 people
• City population: 55,351
• Metro: New Haven-Milford, CT
• Population (ZIP): 55,351
• Household income: $74,382
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2671.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 47% Hispanic / Latino 26% Black 18% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 1%
• Common ancestry: Romanian 4% Lithuanian 3% Russian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 70% English-only · Spanish 17% Other Indo-European 5% Arabic 3%

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: ▼ -312.86%
• Current HPI: 307.0655
• Rent YoY: ▲ 3.90%
• 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

+184.1% since first listed

5 events — show timeline

• 2026-05-20 Pending — Smart MLS
• 2026-05-12 Listed $375,000 Smart MLS
• 2000-06-01 Sold (MLS) $81,200 Smart MLS
• 1999-11-04 Listed $80,700 Smart MLS
• 1992-11-05 Sold (Public Records) $132,000 Public Records

Property tax history

+2.5%/yr

Latest (2023): $7,205 · +2.0% YoY. Source: county tax records.