None · New Haven, CT 06519

$499,000

6 bd · 2.0 ba · 2,046 sqft · MultiFamily public records · 33 Days on market

Built 1900 3,484 sqft lot Est $352k · 42% 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 +14.9/30.0
• Appreciation +9.9/10.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

Investors.. Well maintained 2 family house ...both units are occupied.. laundry includes washer and dryer in basement for both units... HOme was renovated in 2019. add this one to your portfolio.

Key facts

• Renovated
• Well maintained
• 3,484 sq ft lot

Tags

• WELL MAINTAINED
• RENOVATED

Property features AI

Finance

• Other: Property listed as multi-family for sale
• Financial info: No investor financials or income/expense details provided
• HOA & community: No HOA or community details provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family 2-family property
• Construction: Frame construction; Masonry foundation; Asphalt shingle roof
• Exterior features: Level lot; Vinyl siding

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 6 total bedrooms
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating; Natural gas heat fuel; 40-gallon hot water tank
• Interior features: Finished walk-up attic; Full basement
• Laundry & utility: Laundry located in basement; Washer and dryer included for all units

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive. Per door: $75/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $446k (10.6% below list).
• Recommended offer: $446k (10.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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 (+3.3%/yr); 46 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $4,459/mo this rent would consume 108% of the median local household income ($50k/yr) (locally 1321% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $52k of equity ($3k loan paydown + $49k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $140k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$84k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($484k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y 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 $300k; list at $499k implies a 66% 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, 55% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $445,900 (10.6% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.89% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.29%
• DSCR: 1.06
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $351,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Stevens St	0.00mi	6/2.0	2,046 (0%)	14mo	$300,000	$147	89
56 Ann St	0.26mi	5/3.0 (-1)	2,067 (+1%)	6mo	$407,000	$197	72
45 Kossuth St	0.21mi	6/3.0	2,153 (+5%)	11mo	$425,000	$197	69
33 Stevens St	0.08mi	7/2.0 (+1)	2,205 (+8%)	14mo	$320,000	$145	66
45 Frank St	0.52mi	6/3.0	2,120 (+4%)	4mo	$430,000	$203	62
97 Scranton St	0.27mi	5/3.0 (-1)	2,169 (+6%)	9mo	$215,000	$99	61
312 Davenport Ave	0.24mi	6/2.0	2,348 (+15%)	6mo	$312,000	$133	59
95 Frank St	0.58mi	6/3.0	2,243 (+10%)	2mo	$385,000	$172	52
171 Frank St	0.66mi	5/3.0 (-1)	1,975 (-4%)	10mo	$340,000	$172	46
28 Frank St	0.52mi	7/2.0 (+1)	2,282 (+12%)	8mo	$330,000	$145	45
800 George St	0.58mi	5/3.0 (-1)	2,282 (+12%)	4mo	$320,000	$140	41
167 Gilbert St	0.72mi	6/3.0	2,249 (+10%)	10mo	$480,000	$213	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.81% appreciation · 3.3% rent growth · sell at horizon

5-year hold

• IRR: 24.9%
• Equity multiple: 2.98×
• Total profit: $276,231
• Equity at exit: $442,622

10-year hold

• IRR: 22.1%
• Equity multiple: 6.78×
• Total profit: $807,019
• Equity at exit: $947,265

Cash invested: $139,720 (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 06519

• Home prices YoY: 2.7%
• Rents YoY: 3.3%
• Active inventory: 46
• Price-to-rent: 18.7×

Monthly cashflow live

• Estimated rent: $4,459 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$547 /mo · $6,567/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$936
• Net cashflow: $151

Break-even live

Break-even rent $4,268

Max offer price $499,000

Occupancy floor 92%

Sensitivity live

Price	-10% $433	-5% $292	+0% $151	+5% $9	+10% $-132
Rent	-10% $-202	-5% $-25	+0% $151	+5% $327	+10% $503
Rate	-1.0pp $402	-0.5pp $278	base $151	+0.5pp $21	+1.0pp $-110

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,458
Total (2 units)			$4,459

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	15d	1	0.53mi
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	44d	1	0.56mi
67 Edgewood Ave New Haven, CT	7.0	2.5	2000	$6,100	$3.05	44d	1	0.69mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	3d	1	0.72mi
84 Morris St Unit 2nd Fl New Haven, CT	5.0	2.0	1410	$1,825	$1.29	3d	1	0.83mi
34 Cassius St Unit 36 New Haven, CT	5.0	2.0	1872	$2,300	$1.23	44d	1	0.95mi
355 Norton St Unit 1 New Haven, CT	5.0	2.5	2500	$3,300	$1.32	22d	1	1.22mi
1519 Ella T Grasso Blvd Unit N/A New Haven, CT	5.0	2.0	2750	$4,450	$1.62	24d	1	1.25mi
50 Admiral St New Haven, CT	5.0	2.0	2157	$2,700	$1.25	20d	1	1.29mi
55 Admiral St Unit 2 New Haven, CT	5.0	3.0	2000	$3,295	$1.65	24d	1	1.31mi
54 Trumbull St Unit 54-1 New Haven, CT	5.0	2.5	2250	$6,695	$2.98	15d	1	1.33mi
432 Norton Pkwy New Haven, CT	5.0	3.0	2493	$4,195	$1.68	44d	1	1.38mi
30 Trumbull St New Haven, CT	5.0	4.0	2668	$5,000	$1.87	4d	1	1.39mi
134 Mansfield St New Haven, CT	5.0	2.0	1960	$5,500	$2.81	24d	1	1.40mi
41 Osborn Ave New Haven, CT	5.0	1.5	1500	$1,800	$1.20	4d	1	1.45mi

Listing history 31 events

1. 2026-06-18
   days on market $499,000 Active 33 DOM
2. 2026-06-17
   days on market $499,000 Active 32 DOM
3. 2026-06-16
   days on market $499,000 Active 31 DOM
4. 2026-06-15
   days on market $499,000 Active 30 DOM
5. 2026-06-14
   days on market $499,000 Active 28 DOM
6. 2026-06-13
   days on market $499,000 Active 27 DOM
7. 2026-06-10
   days on market $499,000 Active 25 DOM
8. 2026-06-09
   days on market $499,000 Active 24 DOM
9. 2026-06-08
   days on market $499,000 Active 23 DOM
10. 2026-06-07
    days on market $499,000 Active 22 DOM
11. 2026-06-05
    days on market $499,000 Active 19 DOM
12. 2026-06-03
    days on market $499,000 Active 18 DOM
13. 2026-06-03
    days on market $499,000 Active 17 DOM
14. 2026-06-01
    days on market $499,000 Active 16 DOM
15. 2026-05-31
    days on market $499,000 Active 15 DOM
16. 2026-05-16
    listed $499,000 Active
17. 2025-06-13
    historical $850
18. 2025-05-28
    listed $850
19. 2025-05-17
    historical $800
20. 2025-05-06
    listed $800
21. 2025-04-30
    soldstatus $300,000 Closed 195-char remark

    Show marketing remark (195 chars)

    Investors.. Well maintained 2 family house ...both units are occupied.. laundry includes washer and dryer in basement for both units... HOme was renovated in 2019. add this one to your portfolio.

22. 2024-11-21
    status Under Contract 195-char remark

    Show marketing remark (195 chars)

    Investors.. Well maintained 2 family house ...both units are occupied.. laundry includes washer and dryer in basement for both units... HOme was renovated in 2019. add this one to your portfolio.

23. 2024-09-30
    price $299,000 195-char remark

    Show marketing remark (195 chars)

    Investors.. Well maintained 2 family house ...both units are occupied.. laundry includes washer and dryer in basement for both units... HOme was renovated in 2019. add this one to your portfolio.

24. 2024-09-17
    listed $279,000 Active 195-char remark

    Show marketing remark (195 chars)

    Investors.. Well maintained 2 family house ...both units are occupied.. laundry includes washer and dryer in basement for both units... HOme was renovated in 2019. add this one to your portfolio.

25. 2024-09-12
    historical $279,000 195-char remark

    Show marketing remark (195 chars)

    Investors.. Well maintained 2 family house ...both units are occupied.. laundry includes washer and dryer in basement for both units... HOme was renovated in 2019. add this one to your portfolio.

26. 2022-05-16
    soldstatus $270,000
27. 2022-05-13
    soldstatus $270,000 Closed 341-char remark

    Show marketing remark (341 chars)

    Investors take notice! Stunning , well maintained 2 Family house for sale on 61 Stevens street in the Hill neighborhood in New Haven. Renovation has been done in 2019. All 2 units are occupied. 1st floor 2 bedrooms - 1 bath , $1,000 leased; 2d & 3d floor 4 bedrooms - 1 bath, $1,495 leased; Upsite potential rents are under market price.

28. 2021-09-22
    price $300,000 341-char remark

    Show marketing remark (341 chars)

    Investors take notice! Stunning , well maintained 2 Family house for sale on 61 Stevens street in the Hill neighborhood in New Haven. Renovation has been done in 2019. All 2 units are occupied. 1st floor 2 bedrooms - 1 bath , $1,000 leased; 2d & 3d floor 4 bedrooms - 1 bath, $1,495 leased; Upsite potential rents are under market price.

29. 2021-08-24
    listed $320,000 Active 341-char remark

    Show marketing remark (341 chars)

    Investors take notice! Stunning , well maintained 2 Family house for sale on 61 Stevens street in the Hill neighborhood in New Haven. Renovation has been done in 2019. All 2 units are occupied. 1st floor 2 bedrooms - 1 bath , $1,000 leased; 2d & 3d floor 4 bedrooms - 1 bath, $1,495 leased; Upsite potential rents are under market price.

30. 2018-07-16
    historical
31. 2018-05-15
    listed $75,000

ⓘ 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: $6,567 · $547/mo
• Projected year-2 tax: $8,623 · $719/mo
• Expected delta: +$2,056/yr (+$171/mo · 31.3%)

ⓘ 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 7/10 Severe 7 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% 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: $53,508
• − Mortgage interest: −$27,952
• − Property taxes: −$6,567
• − Insurance: −$2,495
• − Repairs & maintenance: −$4,281
• − Management: −$4,281
• − Depreciation: −$14,516
• Taxable loss: −$6,583
• Est. tax savings @ 24.0%: +$1,580
• After-tax cash flow: $3,388/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): 15,605
• Household income: $49,619
• Rent vs Own: 73.7% rent · 26.3% own
• Severe rent burden: 1321.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 49% Black 26% White 15% Two or more races 13% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 25% Dominican 3%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 25% · Canada, Jamaica, China
• Languages at home: 50% English-only · Spanish 42% Other Indo-European 4% Arabic 1%

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: ▲ 9.81%
• Current HPI: 377.4885
• Rent YoY: ▲ 3.30%
• 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

+565.3% since first listed

16 events — show timeline

• 2026-05-16 Listed $499,000 Smart MLS
• 2025-06-13 Rental Removed $850 SMARTMLS
• 2025-05-28 Listed for Rent $850 SMARTMLS
• 2025-05-17 Rental Removed $800 SMARTMLS
• 2025-05-06 Listed for Rent $800 SMARTMLS
• 2025-04-30 Sold (MLS) $300,000 Smart MLS
• 2024-11-21 Pending — Smart MLS
• 2024-09-30 Price Changed $299,000 Smart MLS
• 2024-09-17 Listed $279,000 Smart MLS
• 2024-09-12 Coming Soon $279,000 Smart MLS
• 2022-05-16 Sold (Public Records) $270,000 Public Records
• 2022-05-13 Sold (MLS) $270,000 Smart MLS
• 2021-09-22 Price Changed $300,000 Smart MLS
• 2021-08-24 Listed $320,000 Smart MLS
• 2018-07-16 Listing Removed — Smart MLS
• 2018-05-15 Listed $75,000 Smart MLS

Property tax history

+11.2%/yr

Latest (2023): $6,567 · -6.4% YoY. Source: county tax records.