24 Hazel St · New Haven, CT 06511

$550,000

6 bd · 3.0 ba · 2,832 sqft · MultiFamily public records · 6 Days on market

Built 1900 3,920 sqft lot Est $413k · 33% over

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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 +23.6/30.0
• DSCR +7.6/10.0
• 1% rule +5.9/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Very well kept 3 family New Haven home! All 3 units with separate entrance & utilities! All 3 units include Open floor plan, spacious 2 bedroom and full bath! 2 year old ROOF, 2 BRAND NEW furnaces and also 2 BRAND NEW Water Heaters! Great square footage and plenty of parking for tenants! Add this investment to your portfolio today! Showings on this property will start Monday 7/29

Key facts

• 3,920 sq ft lot
• 4 parking spots
• Built 1900

Property features AI

Finance

• Other: Basement fully finished with full height; finished walk-up attic with storage space
• Financial info: Multi-family for sale (3 units) — income/expense details not provided
• HOA & community: No HOA details provided

Exterior

• Parking: Off-street parking; Driveway (paved); 4 parking spaces
• Security: No security details provided
• Utilities: Public water; Public sewer; Natural gas hot water; Natural gas for heating; Thermopane windows
• Home design: Multi-family property (3-family); Private paved asphalt driveway
• Construction: Built with frame and brick construction; Block and concrete foundation; Asphalt shingle roof; Vinyl siding
• Exterior features: Balcony; Covered deck; Level lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 6 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air heating using natural gas; Window unit cooling
• Interior features: 15 total rooms; Electric outlets and thermostats; Window cooling unit(s)
• Laundry & utility: Basement laundry hook-ups

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• Cap rate 8.5% 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: schools D+, 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.
• Market conditions: Rents rising (+2.6%/yr); 137 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $5,987/mo this rent would consume 120% 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $221k; list at $550k implies a 149% 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, 51% 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 $550,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 1.09% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.06%
• DSCR: 1.36
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $413,472
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 Bassett St	0.23mi	5/3.0 (-1)	2,820 (-0%)	8mo	$415,000	$147	77
64 Lilac St	0.16mi	6/3.0	3,075 (+9%)	4mo	$363,000	$118	74
77 Gibbs St	0.36mi	5/3.0 (-1)	2,916 (+3%)	0mo	$370,000	$127	73
39 Lander St	0.45mi	6/3.0	2,862 (+1%)	6mo	$490,000	$171	72
98 Thompson St	0.19mi	5/3.0 (-1)	3,042 (+7%)	4mo	$465,000	$153	70
152 Sheffield Ave	0.12mi	6/2.0	3,184 (+12%)	10mo	$410,000	$129	61
292 W Ivy St	0.55mi	5/3.0 (-1)	2,883 (+2%)	6mo	$490,000	$170	61
151 Read St	0.45mi	6/2.0	2,735 (-3%)	10mo	$310,000	$113	60
67 Read St	0.36mi	7/2.5 (+1)	2,672 (-6%)	8mo	$390,000	$146	60
92 Shepard St	0.43mi	5/3.0 (-1)	3,017 (+6%)	9mo	$415,000	$138	56
229 Goodrich St	0.52mi	7/3.0 (+1)	3,010 (+6%)	10mo	$445,000	$148	52
445 Dixwell Ave	0.41mi	6/2.0	3,212 (+13%)	7mo	$340,000	$106	49

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-25,623
• Equity at exit: $82,007

10-year hold

• IRR: 4.8%
• Equity multiple: 1.34×
• Total profit: $52,847
• Equity at exit: $47,554

Cash invested: $154,000 (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: 23.0×

Monthly cashflow live

• Estimated rent: $5,987 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$582 /mo · $6,984/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,257
• Net cashflow: $1,034

Break-even live

Break-even rent $4,678

Max offer price $550,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$5,988
Total (3 units)			$5,987

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
589 Winchester Ave Unit 3 New Haven, CT	5.0	1.0	3936	$2,650	$0.67	43d	1	0.07mi
55 Admiral St Unit 2 New Haven, CT	5.0	3.0	2000	$3,295	$1.65	23d	1	0.58mi
50 Admiral St New Haven, CT	5.0	2.0	2157	$2,700	$1.25	18d	1	0.60mi
134 Mansfield St New Haven, CT	5.0	2.0	1960	$5,500	$2.81	23d	1	0.64mi
432 Norton Pkwy New Haven, CT	5.0	3.0	2493	$4,195	$1.68	43d	1	0.87mi
347 Sherman Ave New Haven, CT	5.0	3.0	3153	$2,300	$0.73	43d	1	0.97mi
355 Norton St Unit 1 New Haven, CT	5.0	2.5	2500	$3,300	$1.32	21d	1	0.97mi
54 Trumbull St Unit 54-1 New Haven, CT	5.0	2.5	2250	$6,695	$2.98	14d	1	1.14mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	2d	1	1.19mi
1519 Ella T Grasso Blvd Unit N/A New Haven, CT	5.0	2.0	2750	$4,450	$1.62	23d	1	1.21mi
67 Edgewood Ave New Haven, CT	7.0	2.5	2000	$6,100	$3.05	43d	1	1.23mi
30 Trumbull St New Haven, CT	5.0	4.0	2668	$5,000	$1.87	3d	1	1.23mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	14d	1	1.38mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3097	$6,250	$2.02	23d	1	1.38mi
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	43d	1	1.40mi

Listing history 8 events

1. 2026-06-16
   statusdays on market $550,000 Under Contract 6 DOM
2. 2026-06-15
   days on market $550,000 Active 5 DOM
3. 2026-06-14
   days on market $550,000 Active 3 DOM
4. 2026-06-13
   statusdays on market $550,000 Active 2 DOM
5. 2026-06-10
   days on market $550,000 Coming Soon 3 DOM
6. 2026-06-09
   days on market $550,000 Coming Soon 2 DOM
7. 2026-06-08
   remarks 458-char remark
8. 2026-06-08
   listed $550,000 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: $6,984 · $582/mo
• Projected year-2 tax: $9,377 · $781/mo
• Expected delta: +$2,393/yr (+$199/mo · 34.3%)

ⓘ 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 51% 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: $71,844
• − Mortgage interest: −$30,809
• − Property taxes: −$6,984
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,748
• − Management: −$5,748
• − Depreciation: −$16,000
• Taxable income: $3,806
• Est. tax owed @ 24.0%: −$914
• After-tax cash flow: $11,498/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

+120.9% since first listed

6 events — show timeline

• 2026-06-08 Coming Soon $550,000 Smart MLS
• 2019-11-20 Sold (Public Records) $221,000 Public Records
• 2019-11-18 Sold (MLS) $221,000 Smart MLS
• 2019-10-25 Pending — Smart MLS
• 2019-08-29 Contingent — Smart MLS
• 2019-07-25 Listed $249,000 Smart MLS

Property tax history

+6.6%/yr

Latest (2023): $6,984 · -6.4% YoY. Source: county tax records.