95 Rosette St

New Haven, CT 06519

$665,000D+

9 bd · 3.9 ba · 3,672 sqft · Built 1910 · MultiFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,312/mo
• Mortgage (P&I): −$3,487
• Tax + insurance: −$1,108
• HOA: −$0
• Vac / Maint / Mgmt: −$1,326
• Net cashflow: $391/mo
• Annual: $4,690/yr
• Cap rate: 7.00%
• Cash-on-cash: 2.52%
• DSCR: 1.11
• 1% rule: 0.95%
• Cash to close: $186,200

Investor read

• This is a 1×3bd/1ba + 1×2bd/1ba + 1×1bd/1ba units multifamily listed at $665k. Condition is rated poor.
• At list price, monthly cash flow is $391 ($5k/yr) — positive. Per door: $130/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 $631k (5.1% below list).
• It's been on market 17 days — a 2% lower offer ($655k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $631k (5.1% below list) — sets the bar for 1% rule.
• In year one you build about $70k of equity ($5k loan paydown + $65k appreciation (9.8% local appreciation)).
• 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: Roberto Clemente Leadership Academy For Global Awareness (math 3% / reading 10%, grade F, #541 of 553 statewide, top 98%, 399 students, 90% FRL); Hill Regional Career High School (math 8% / reading 27%, grade F, #173 of 194 statewide, top 90%, 651 students, 78% FRL) — zoned schools average 84% FRL vs 66% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.3%/yr); 46 active listings in the ZIP; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• 2 sale attempts 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 $665k implies a 122% gain — meaningful room to come down on a strong offer.
• At projected returns (9.8% appreciation + 3.3% rent growth), your $186k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$112k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; major wind risk, 56% 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.
• Cap rate 7.0% 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.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Major: Exterior siding — Weathered and in need of repair.
• Major: Windows — No visible photos of the windows.
• Major: Foundation/structure — No visible photos of the foundation/structure.
• Major: HVAC/mechanicals — No visible photos of the HVAC/mechanicals.
• Major: Landscaping/curb appeal — No visible photos of the landscaping/curb appeal.