64 Grace St · New Haven, CT 06511

$525,000

8 bd · 4.0 ba · 3,834 sqft · MultiFamily public records · 2 Days on market

Built 1900 6,969 sqft lot Est $663k · 21% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• 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 (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Multi Family Building with 4 Units AND 4 Detached Garages; DON'T MISS THIS ONE! Quiet Neighborhood in Park Setting, literally adjacent to East Rock Park. Brand new Roof! 3 Gas Boilers and 1 oil boiler. The units need work, updating and painting.

Key facts

• 4 units
• Park setting
• 4 detached garages

Tags

• MULTI FAMILY BUILDING
• 4 UNITS
• 4 DETACHED GARAGES
• QUIET NEIGHBORHOOD
• PARK SETTING
• ADJACENT TO EAST ROCK PARK

Property features AI

Finance

• Other: Living area recorded as 3834 (public record)
• Financial info: Assessed value listed

Exterior

• Parking: Detached garage; 4-car garage
• Utilities: Public water connected; Public sewer connected; Sewer usage fee (annual); Fuel tank located in basement
• Home design: Multi-family property (4-family)
• Construction: Frame construction; Vinyl siding; Masonry and stone foundation; Flat roof; Exterior color: grey; Built for multi-unit use (4 units)
• Exterior features: Level lot; Public recreational facilities nearby

Interior

• Bedrooms: 8 bedrooms
• Bathrooms: 4 full bathrooms
• Heating & cooling: Hot water heat; Natural gas and oil fuel sources; 40-gallon hot water tank (oil and natural gas)
• Interior features: 16 total rooms; Full, unfinished basement
• Laundry & utility: Laundry in basement with basement hook-ups

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $745/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $525k).
• Cap rate 11.4% 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: Clinton Avenue School (math 12% / reading 22%, grade F, #459 of 553 statewide, top 84%, 450 students, 78% FRL); Wilbur Cross High School (math 17% / reading 37%, grade F, #147 of 194 statewide, top 78%, 1,633 students, 76% FRL).
• Market conditions: Rents rising (+2.6%/yr); 137 active listings in the ZIP; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $7,534/mo this rent would consume 151% 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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $147k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $525,000

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 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. 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.
8. 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.
9. 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: 1.44% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.24%
• DSCR: 1.81
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $663,282
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
253 Chatham St	0.50mi	8/3.0	3,579 (-7%)	4mo	$565,600	$158	58
457 Ferry St	0.64mi	9/4.0 (+1)	3,901 (+2%)	11mo	$490,000	$126	53
118 Grafton St	0.62mi	9/5.0 (+1)	4,146 (+8%)	5mo	$380,000	$92	44
167 Willow St	0.51mi	8/3.0	3,313 (-14%)	8mo	$910,000	$275	43
278 Clinton Ave	0.42mi	9/3.0 (+1)	3,300 (-14%)	9mo	$570,000	$173	41
20,24,26 Castle St	0.64mi	8/5.5	3,712 (-3%)	22mo	$410,000	$110	40
16 Linden St	0.57mi	8/3.0	3,307 (-14%)	14mo	$862,000	$261	34
712 Orange St	0.74mi	7/4.0 (-1)	3,462 (-10%)	24mo	$950,000	$274	25

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: 9.4%
• Equity multiple: 1.37×
• Total profit: $54,352
• Equity at exit: $78,279

10-year hold

• IRR: 18.3%
• Equity multiple: 2.49×
• Total profit: $218,925
• Equity at exit: $45,392

Cash invested: $147,000 (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 06511

• Home prices YoY: -20.8%
• Rents YoY: 2.6%
• Active inventory: 137
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $7,534 high
• Mortgage (P&I): −$2,753
• Tax from tax record: −$746 /mo · $8,953/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,582
• Net cashflow: $2,234

Break-even live

Break-even rent $4,706

Max offer price $525,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$7,533
Total (3 units)			$7,534

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $525,000 Coming Soon 2 DOM
2. 2026-06-16
   remarks 245-char remark
3. 2026-06-16
   listed $525,000 Coming Soon 1 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: $8,953 · $746/mo
• Projected year-2 tax: $10,094 · $841/mo
• Expected delta: +$1,141/yr (+$95/mo · 12.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% 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: $90,408
• − Mortgage interest: −$29,408
• − Property taxes: −$8,953
• − Insurance: −$2,625
• − Repairs & maintenance: −$7,233
• − Management: −$7,233
• − Depreciation: −$15,273
• Taxable income: $19,684
• Est. tax owed @ 24.0%: −$4,724
• After-tax cash flow: $22,082/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

1 event — show timeline

• 2026-06-16 Coming Soon $525,000 Smart MLS

Property tax history

+6.8%/yr

Latest (2023): $8,953 · -6.4% YoY. Source: county tax records.