437 Dixwell Ave · New Haven, CT 06511

$599,999

6 bd · 3.0 ba · 3,604 sqft · MultiFamily public records · 102 Days on market

Built 1910 4,791 sqft lot $166/sqft · 24% above area Est $484k · 24% over

---

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 +21.0/30.0
• DSCR +6.7/10.0
• 1% rule +5.3/10.0
• 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

Great investment opportunity in the heart of New Haven! This spacious multi-family property offers approximately 3,604 square feet of living space with a total of 6 bedrooms and 3 bathrooms. Built in 1910, the property features classic character while offering strong potential for rental income or owner-occupancy. The layout provides generous living areas and multiple units, making it ideal for investors looking to expand their portfolio or buyers seeking a property that can help offset mortgage costs with rental income. Conveniently located near downtown New Haven, Yale University, shopping, restaurants, and major highways, this property offers both accessibility and long-term value. Whether you're an experienced investor or looking for your first multi-family property, this is a fantastic opportunity in a high-demand rental market.

Key facts

• Multiple units
• 4,791 sq ft lot
• Built 1910

Tags

• INVESTMENT OPPORTUNITY
• MULTI-FAMILY PROPERTY
• GENEROUS LIVING AREAS
• MULTIPLE UNITS
• HIGH-DEMAND RENTAL MARKET

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $847 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $600k).
• Recommended offer: $546k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: Betsy Ross Arts Magnet School (math 12% / reading 27%, grade F, #161 of 175 statewide, top 93%, 327 students, 70% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 140 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $6,187/mo this rent would consume 124% 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 $18k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($546k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $455k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 $545,999 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.03% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.05%
• DSCR: 1.27
• GRM: 8.1

CMA / ARV

• ARV (median comp): $484,042
• List price: $599,999
• Delta: 23.96%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
529 Dixwell Ave	0.17mi	6/3.0	3,426 (-5%)	12mo	$401,000	$117	74
128 Henry St	0.30mi	6/3.0	3,504 (-3%)	10mo	$470,000	$134	73
445 Dixwell Ave	0.02mi	6/2.0	3,212 (-11%)	7mo	$340,000	$106	71
50 Admiral St	0.39mi	6/3.0	3,455 (-4%)	19mo	$550,000	$159	59
224 Huntington St	0.75mi	6/3.0	3,814 (+6%)	1mo	$877,000	$230	55
105 Ivy St	0.40mi	6/3.0	3,131 (-13%)	11mo	$300,000	$96	51
64 Lilac St	0.47mi	6/3.0	3,075 (-15%)	5mo	$363,000	$118	50
56 Goffe Ter	0.52mi	6/3.0	3,325 (-8%)	21mo	$476,000	$143	46
21 Sheldon Ter	0.58mi	6/3.0	3,249 (-10%)	14mo	$700,000	$215	45
152 Sheffield Ave	0.53mi	6/2.0	3,184 (-12%)	10mo	$410,000	$129	43
57 Bassett St	0.55mi	6/3.0	3,085 (-14%)	13mo	$365,000	$118	39
527 Winthrop Ave	0.57mi	5/3.0 (-1)	3,152 (-12%)	15mo	$385,000	$122	35

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-45,704
• Equity at exit: $89,462

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $19,720
• Equity at exit: $51,877

Cash invested: $168,000 (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: 140
• Price-to-rent: 24.2×

Monthly cashflow live

• Estimated rent: $6,187 high
• Mortgage (P&I): −$3,146
• Tax from tax record: −$644 /mo · $7,726/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,299
• Net cashflow: $847

Break-even live

Break-even rent $5,114

Max offer price $599,999

Occupancy floor 81%

Sensitivity live

Price	-10% $1,187	-5% $1,017	+0% $847	+5% $678	+10% $508
Rent	-10% $359	-5% $603	+0% $847	+5% $1,092	+10% $1,336
Rate	-1.0pp $1,150	-0.5pp $1,000	base $847	+0.5pp $692	+1.0pp $534

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,186
Total (3 units)			$6,187

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
432 Norton Pkwy New Haven, CT	5.0	3.0	2493	$4,195	$1.68	45d	1	0.46mi
589 Winchester Ave Unit 3 New Haven, CT	5.0	1.0	3936	$2,650	$0.67	45d	1	0.48mi
355 Norton St Unit 1 New Haven, CT	5.0	2.5	2500	$3,300	$1.32	23d	1	0.56mi
347 Sherman Ave New Haven, CT	5.0	3.0	3153	$2,300	$0.73	45d	1	0.58mi
1519 Ella T Grasso Blvd Unit N/A New Haven, CT	5.0	2.0	2750	$4,450	$1.62	25d	1	0.79mi
201 Sherman Ave New Haven, CT	7.0	3.5	5248	$850	$0.16	25d	1	0.96mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3097	$6,250	$2.02	25d	1	1.09mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	16d	1	1.09mi
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	45d	1	1.14mi
30 Trumbull St New Haven, CT	5.0	4.0	2668	$5,000	$1.87	5d	1	1.25mi

Listing history 24 events

1. 2026-06-21
   days on market $599,999 Active 102 DOM
2. 2026-06-18
   days on market $599,999 Active 99 DOM
3. 2026-06-17
   days on market $599,999 Active 98 DOM
4. 2026-06-16
   days on market $599,999 Active 97 DOM
5. 2026-06-15
   days on market $599,999 Active 96 DOM
6. 2026-06-14
   days on market $599,999 Active 94 DOM
7. 2026-06-13
   days on market $599,999 Active 93 DOM
8. 2026-06-10
   days on market $599,999 Active 91 DOM
9. 2026-06-09
   days on market $599,999 Active 90 DOM
10. 2026-06-08
    days on market $599,999 Active 89 DOM
11. 2026-06-07
    days on market $599,999 Active 88 DOM
12. 2026-06-05
    days on market $599,999 Active 85 DOM
13. 2026-06-03
    days on market $599,999 Active 84 DOM
14. 2026-06-03
    days on market $599,999 Active 83 DOM
15. 2026-06-01
    days on market $599,999 Active 82 DOM
16. 2026-05-31
    days on market $599,999 Active 81 DOM
17. 2026-05-01
    price $599,999 847-char remark

    Show marketing remark (847 chars)

    Great investment opportunity in the heart of New Haven! This spacious multi-family property offers approximately 3,604 square feet of living space with a total of 6 bedrooms and 3 bathrooms. Built in 1910, the property features classic character while offering strong potential for rental income or owner-occupancy. The layout provides generous living areas and multiple units, making it ideal for investors looking to expand their portfolio or buyers seeking a property that can help offset mortgage costs with rental income. Conveniently located near downtown New Haven, Yale University, shopping, restaurants, and major highways, this property offers both accessibility and long-term value. Whether you're an experienced investor or looking for your first multi-family property, this is a fantastic opportunity in a high-demand rental market.

18. 2026-03-11
    listed $619,990 Active 847-char remark

    Show marketing remark (847 chars)

    Great investment opportunity in the heart of New Haven! This spacious multi-family property offers approximately 3,604 square feet of living space with a total of 6 bedrooms and 3 bathrooms. Built in 1910, the property features classic character while offering strong potential for rental income or owner-occupancy. The layout provides generous living areas and multiple units, making it ideal for investors looking to expand their portfolio or buyers seeking a property that can help offset mortgage costs with rental income. Conveniently located near downtown New Haven, Yale University, shopping, restaurants, and major highways, this property offers both accessibility and long-term value. Whether you're an experienced investor or looking for your first multi-family property, this is a fantastic opportunity in a high-demand rental market.

19. 2024-10-28
    soldstatus $455,000 Closed 847-char remark

    Show marketing remark (847 chars)

    Welcome to the lovely neighborhood of Newhallville, New Haven in New Haven County zip code 06511 located near Prospect Hill and right outside "downtown" New Haven. This lovely three family is perfect for investors or owner-occupied buyers. The third floor is available and the first two are occupied by Month-to-Month tenants. The property has a front porch decorating the first floor, vintage glass doors to enter through top floor and first floor units. Front and back entities for both front and back of the property as well as an attic in the third-floor unit. Property is separately metered. Basement perfect for storage for the landlord or possibly the tenants or the owner. The curb appeal of this rare three family will attract a lot of attention and this will not last! Property is being sold AS IS at the current listing price.

20. 2024-08-29
    status Under Contract 847-char remark

    Show marketing remark (847 chars)

    Welcome to the lovely neighborhood of Newhallville, New Haven in New Haven County zip code 06511 located near Prospect Hill and right outside "downtown" New Haven. This lovely three family is perfect for investors or owner-occupied buyers. The third floor is available and the first two are occupied by Month-to-Month tenants. The property has a front porch decorating the first floor, vintage glass doors to enter through top floor and first floor units. Front and back entities for both front and back of the property as well as an attic in the third-floor unit. Property is separately metered. Basement perfect for storage for the landlord or possibly the tenants or the owner. The curb appeal of this rare three family will attract a lot of attention and this will not last! Property is being sold AS IS at the current listing price.

21. 2024-08-23
    historical Under Contract - Continue to Show 847-char remark

    Show marketing remark (847 chars)

    Welcome to the lovely neighborhood of Newhallville, New Haven in New Haven County zip code 06511 located near Prospect Hill and right outside "downtown" New Haven. This lovely three family is perfect for investors or owner-occupied buyers. The third floor is available and the first two are occupied by Month-to-Month tenants. The property has a front porch decorating the first floor, vintage glass doors to enter through top floor and first floor units. Front and back entities for both front and back of the property as well as an attic in the third-floor unit. Property is separately metered. Basement perfect for storage for the landlord or possibly the tenants or the owner. The curb appeal of this rare three family will attract a lot of attention and this will not last! Property is being sold AS IS at the current listing price.

22. 2024-07-01
    listed $425,000 Active 847-char remark

    Show marketing remark (847 chars)

    Welcome to the lovely neighborhood of Newhallville, New Haven in New Haven County zip code 06511 located near Prospect Hill and right outside "downtown" New Haven. This lovely three family is perfect for investors or owner-occupied buyers. The third floor is available and the first two are occupied by Month-to-Month tenants. The property has a front porch decorating the first floor, vintage glass doors to enter through top floor and first floor units. Front and back entities for both front and back of the property as well as an attic in the third-floor unit. Property is separately metered. Basement perfect for storage for the landlord or possibly the tenants or the owner. The curb appeal of this rare three family will attract a lot of attention and this will not last! Property is being sold AS IS at the current listing price.

23. 2016-08-23
    soldstatus $97,000
24. 1987-06-12
    soldstatus $79,900

ⓘ 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: $7,726 · $644/mo
• Projected year-2 tax: $10,283 · $857/mo
• Expected delta: +$2,557/yr (+$213/mo · 33.1%)

ⓘ 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 53% 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: $74,244
• − Mortgage interest: −$33,609
• − Property taxes: −$7,726
• − Insurance: −$3,000
• − Repairs & maintenance: −$5,940
• − Management: −$5,940
• − Depreciation: −$17,455
• Taxable income: $575
• Est. tax owed @ 24.0%: −$138
• After-tax cash flow: $10,031/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

+650.9% since first listed

8 events — show timeline

• 2026-05-01 Price Changed $599,999 Smart MLS
• 2026-03-11 Listed $619,990 Smart MLS
• 2024-10-28 Sold (MLS) $455,000 Smart MLS
• 2024-08-29 Pending — Smart MLS
• 2024-08-23 Contingent — Smart MLS
• 2024-07-01 Listed $425,000 Smart MLS
• 2016-08-23 Sold (Public Records) $97,000 Public Records
• 1987-06-12 Sold (Public Records) $79,900 Public Records

Property tax history

+6.5%/yr

Latest (2023): $7,726 · -6.4% YoY. Source: county tax records.