77 Gibbs St · New Haven, CT 06511

$349,900

6 bd · 3.0 ba · 2,916 sqft · MultiFamily public records · 5 Days on market

Built 1900 4,791 sqft lot $120/sqft · 23% below area Est $454k · 23% under

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Why this score? — see what drove the B- 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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +7.2/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 77 Gibbs St, a multi-family home that has been owned and maintained by the same family for generations. Nestled on a quiet street, this property offers unbeatable convenience just minutes from Albertus Magnus College, Southern Connecticut State University, and Yale University, as well as hospitals, major highways, public transportation, popular restaurants, and much more. The home features numerous updates throughout while still offering an opportunity for repairs and finishing touches to make it your own. Whether you're an owner-occupant seeking rental income potential or an investor looking to add value and build equity, this property presents exceptional potential. Please note

Key facts

• 4,791 sq ft lot
• Built 1900
• Listed 5 days

Property features AI

Finance

• Financial info: Assessed value available

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas
• Home design: Multi-family property (2-family)
• Construction: Brick foundation; Other construction
• Exterior features: Level lot; Asbestos siding; Asphalt shingle roof

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air heating; Natural gas hot water (tankless)
• Interior features: Full basement; Walk-up attic; 14 total rooms

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $882 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 9.3% 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: 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); 140 active listings in the ZIP; 15 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 $4,256/mo this rent would consume 85% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $349,900

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. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.81%
• DSCR: 1.48
• GRM: 6.9

CMA / ARV

• ARV (median comp): $453,772
• List price: $349,900
• Delta: -22.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
77 Gibbs St	0.00mi	5/3.0 (-1)	2,916 (0%)	0mo	$370,000	$127	95
98 Thompson St	0.17mi	5/3.0 (-1)	3,042 (+4%)	4mo	$465,000	$153	76
292 W Ivy St	0.37mi	5/3.0 (-1)	2,883 (-1%)	6mo	$490,000	$170	70
445 Dixwell Ave	0.06mi	6/2.0	3,212 (+10%)	7mo	$340,000	$106	70
64 Lilac St	0.40mi	6/3.0	3,075 (+6%)	4mo	$363,000	$118	68
39 Lander St	0.70mi	6/3.0	2,862 (-2%)	6mo	$490,000	$171	59
19 Bassett St	0.53mi	5/3.0 (-1)	2,820 (-3%)	8mo	$415,000	$147	58
92 Shepard St	0.63mi	5/3.0 (-1)	3,017 (+4%)	9mo	$415,000	$138	52
152 Sheffield Ave	0.48mi	6/2.0	3,184 (+9%)	10mo	$410,000	$129	50
335 Norton St	0.66mi	5/3.0 (-1)	2,704 (-7%)	5mo	$460,000	$170	48
229 Goodrich St	0.72mi	7/3.0 (+1)	3,010 (+3%)	10mo	$445,000	$148	48
67 Read St	0.59mi	7/2.5 (+1)	2,672 (-8%)	8mo	$390,000	$146	44

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-2,099
• Equity at exit: $52,171

10-year hold

• IRR: 8.7%
• Equity multiple: 1.65×
• Total profit: $64,014
• Equity at exit: $30,253

Cash invested: $97,972 (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: 13.7×

Monthly cashflow live

• Estimated rent: $4,256 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$499 /mo · $5,989/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$894
• Net cashflow: $882

Break-even live

Break-even rent $3,139

Max offer price $349,900

Occupancy floor 74%

Sensitivity live

Price	-10% $1,081	-5% $981	+0% $882	+5% $783	+10% $684
Rent	-10% $546	-5% $714	+0% $882	+5% $1,051	+10% $1,219
Rate	-1.0pp $1,059	-0.5pp $971	base $882	+0.5pp $792	+1.0pp $700

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,256
Total (2 units)			$4,256

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: $87,475
• Closing costs: $10,497
• 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	45d	1	0.40mi
55 Admiral St Unit 2 New Haven, CT	5.0	3.0	2000	$3,295	$1.65	24d	1	0.40mi
50 Admiral St New Haven, CT	5.0	2.0	2157	$2,700	$1.25	20d	1	0.44mi
432 Norton Pkwy New Haven, CT	5.0	3.0	2493	$4,195	$1.68	45d	1	0.53mi
134 Mansfield St New Haven, CT	5.0	2.0	1960	$5,500	$2.81	24d	1	0.64mi
355 Norton St Unit 1 New Haven, CT	5.0	2.5	2500	$3,300	$1.32	22d	1	0.64mi
347 Sherman Ave New Haven, CT	5.0	3.0	3153	$2,300	$0.73	45d	1	0.66mi
1519 Ella T Grasso Blvd Unit N/A New Haven, CT	5.0	2.0	2750	$4,450	$1.62	24d	1	0.86mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	4d	1	0.99mi
67 Edgewood Ave New Haven, CT	7.0	2.5	2000	$6,100	$3.05	45d	1	1.03mi
54 Trumbull St Unit 54-1 New Haven, CT	5.0	2.5	2250	$6,695	$2.98	15d	1	1.16mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	15d	1	1.17mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3097	$6,250	$2.02	24d	1	1.17mi
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	45d	1	1.21mi
30 Trumbull St New Haven, CT	5.0	4.0	2668	$5,000	$1.87	4d	1	1.27mi

Listing history 2 events

1. 2026-05-04
   status Under Contract 852-char remark
2. 2026-04-29
   listed $349,900 Active 852-char remark

ⓘ 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: $5,989 · $499/mo
• Projected year-2 tax: $6,738 · $562/mo
• Expected delta: +$749/yr (+$62/mo · 12.5%)

ⓘ 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 · 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: $51,072
• − Mortgage interest: −$19,600
• − Property taxes: −$5,989
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,086
• − Management: −$4,086
• − Depreciation: −$10,179
• Taxable income: $5,383
• Est. tax owed @ 24.0%: −$1,292
• After-tax cash flow: $9,297/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

+5.7% since first listed

3 events — show timeline

• 2026-06-15 Sold (MLS) $370,000 Smart MLS
• 2026-05-04 Pending — Smart MLS
• 2026-04-29 Listed $349,900 Smart MLS

Property tax history

+6.6%/yr

Latest (2023): $5,989 · -6.4% YoY. Source: county tax records.