65 Parmalee Ave · New Haven, CT 06511

$535,000

6 bd · 3.0 ba · 3,245 sqft · MultiFamily public records · 2 Days on market

Built 1920 8,712 sqft lot Est $484k · 11% 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 +20.6/30.0
• DSCR +6.5/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• ARV discount +2.7/15.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Opportunity knocks with this spacious 3 family property, located just minutes from Yale New Haven Hospital Saint Raphael Campus, Downtown New Haven, Route 34, and major commuter routes. Featuring two spacious 2-bedroom units and one 1-bedroom unit, each offering hardwood floors, large living rooms, dining rooms, and generous layouts. The second-floor unit includes 1.5 baths. Additional features include off-street parking, a large backyard, and a balcony with views of Downtown New Haven. Ideal for owner-occupants or investors seeking strong rental demand in a convenient location.

Key facts

• Balcony with views
• Large backyard
• Off-street parking

Tags

• OFF-STREET PARKING
• LARGE BACKYARD
• BALCONY WITH VIEWS

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Stone foundation; Asphalt shingle roof; Exterior siding: asbestos; Blue and white exterior color
• Exterior features: Level lot

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Hot air heating fueled by natural gas; 30-gallon natural gas hot water tank
• Interior features: 14 total rooms; Full unfinished basement; Attic with hatch access

What this means for you Summary

Snapshot

• This is a 2×2bd/1.5ba + 1×1bd/1.5ba units multifamily listed at $535k.

Deal economics

• At list price, monthly cash flow is $714 ($9k/yr) — positive. Per door: $238/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $535k).
• Cap rate 7.9% vs local median 4.9% 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: Barnard Environmental Magnet School (math 6% / reading 22%, grade F, #481 of 553 statewide, top 87%, 467 students, 78% FRL); James Hillhouse High School (math 2% / reading 12%, grade F, #188 of 194 statewide, top 98%, 1,139 students, 79% FRL).
• Market conditions: Rents rising (+2.6%/yr); 140 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $5,466/mo this rent would consume 109% 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 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $535,000

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 1920 — 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. 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: 1.02% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.72%
• DSCR: 1.25
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $483,505
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Winthrop Ave	0.16mi	5/3.0 (-1)	3,008 (-7%)	12mo	$330,000	$110	65
156 Gilbert Ave	0.23mi	6/3.0	3,662 (+13%)	5mo	$430,000	$117	64
178 Sherman Ave	0.46mi	5/3.5 (-1)	3,222 (-1%)	13mo	$555,000	$172	59
256 Davenport Ave	0.62mi	6/3.0	3,105 (-4%)	7mo	$415,000	$134	58
23-25 Mead St	0.12mi	7/4.0 (+1)	3,656 (+13%)	10mo	$660,000	$181	56
21 Hinman St	0.55mi	6/4.0	2,946 (-9%)	2mo	$580,000	$197	53
51 Gilbert St	0.68mi	7/4.0 (+1)	3,420 (+5%)	5mo	$647,000	$189	46
621 Elm St	0.71mi	7/3.0 (+1)	3,320 (+2%)	16mo	$450,000	$136	45
29 Kossuth St	0.68mi	6/3.0	3,588 (+11%)	9mo	$330,000	$92	43
868 Elm St	0.71mi	7/3.0 (+1)	3,657 (+13%)	4mo	$545,000	$149	38
46 Platt St	0.64mi	6/3.0	3,675 (+13%)	18mo	$400,000	$109	33
1398 Ella T Grasso Blvd	0.67mi	6/4.0	2,778 (-14%)	18mo	$529,000	$190	26

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-43,376
• Equity at exit: $79,770

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $11,979
• Equity at exit: $46,257

Cash invested: $149,800 (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: 23.6×

Monthly cashflow live

• Estimated rent: $5,466 high
• Mortgage (P&I): −$2,806
• Tax from tax record: −$576 /mo · $6,906/yr
• Insurance: −$223
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,148
• Net cashflow: $714

Break-even live

Break-even rent $4,562

Max offer price $535,000

Occupancy floor 82%

Sensitivity live

Price	-10% $1,017	-5% $866	+0% $714	+5% $563	+10% $411
Rent	-10% $282	-5% $498	+0% $714	+5% $930	+10% $1,146
Rate	-1.0pp $984	-0.5pp $850	base $714	+0.5pp $575	+1.0pp $434

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$3,778
1× unit	1	1.5	$1,688
Total (3 units)			$5,466

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: $133,750
• Closing costs: $16,050
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3097	$6,250	$2.02	24d	1	0.75mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	15d	1	0.75mi
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	45d	1	0.84mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	4d	1	0.88mi
347 Sherman Ave New Haven, CT	5.0	3.0	3153	$2,300	$0.73	45d	1	0.92mi
1519 Ella T Grasso Blvd Unit N/A New Haven, CT	5.0	2.0	2750	$4,450	$1.62	24d	1	0.94mi
355 Norton St Unit 1 New Haven, CT	5.0	2.5	2500	$3,300	$1.32	22d	1	1.01mi
432 Norton Pkwy New Haven, CT	5.0	3.0	2493	$4,195	$1.68	45d	1	1.17mi
50 Admiral St New Haven, CT	5.0	2.0	2157	$2,700	$1.25	20d	1	1.32mi

Listing history 5 events

1. 2026-06-21
   statusdays on market $535,000 Active 2 DOM
2. 2026-06-18
   days on market $535,000 Coming Soon 3 DOM
3. 2026-06-17
   days on market $535,000 Coming Soon 2 DOM
4. 2026-06-16
   remarks 585-char remark
5. 2026-06-16
   listed $535,000 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: $6,906 · $576/mo
• Projected year-2 tax: $9,178 · $765/mo
• Expected delta: +$2,272/yr (+$189/mo · 32.9%)

ⓘ 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 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,592
• − Mortgage interest: −$29,968
• − Property taxes: −$6,906
• − Insurance: −$2,675
• − Repairs & maintenance: −$5,247
• − Management: −$5,247
• − Depreciation: −$15,564
• Taxable loss: −$16
• Est. tax savings @ 24.0%: +$4
• After-tax cash flow: $8,573/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 $535,000 Smart MLS

Property tax history

+5.0%/yr

Latest (2023): $6,906 · -6.4% YoY. Source: county tax records.