645 Silver Sands Rd · East Haven, CT 06512

$389,000

4 bd · 2.0 ba · 2,237 sqft · MultiFamily public records · 6 Days on market

Built 1890 0.28 ac lot Est $452k · 14% 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 +30.0/30.0
• ARV discount +13.8/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 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

Spacious historic shoreline home just a short walk to the beach. Offering generous living space and endless potential, this property is being sold as-is and is ready for your vision and updates. Historically utilized as a two-family residence. Buyers to perform their own diligence regarding ADU potential or continued multi-family use, subject to Town approvals. Conveniently located near beaches, parks, restaurants, and local amenities

Key facts

• Two-family residence
• Adu potential
• Multi-family use

Tags

• HISTORIC SHORELINE HOME
• SHORT WALK TO THE BEACH
• TWO-FAMILY RESIDENCE
• ADU POTENTIAL
• MULTI-FAMILY USE

Property features AI

Exterior

• Utilities: Public water connected; Public sewer in street and septic; Natural gas available
• Home design: Multi-family (2-family) property
• Construction: Frame construction with masonry foundation; Yellow exterior color
• Exterior features: Asphalt shingle roof; Asbestos siding; Lightly wooded, level lot; Walk-to-water location within a water community

Interior

• Bedrooms: Five bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot air heating fueled by natural gas; Natural gas hot water with a 30-gallon tank
• Interior features: Two fireplaces; Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $389k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $389k).
• Cap rate 10.9% vs local median 3.8% in East 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 70/100 on livability (#99 in CT) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, health & safety B+; Watch: amenities F, commute F.
• East Haven School District (suburban): math 25% / reading 40% proficiency, ranked #118 of 153 in CT (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Momauguin School (math 27% / reading 32%, grade F, #383 of 553 statewide, top 71%, 314 students, 63% FRL); East Haven High School (math 17% / reading 42%, grade F, #139 of 194 statewide, top 74%, 849 students, 47% FRL) — zoned schools average 55% FRL vs 36% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 100 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $5,137/mo this rent would consume 64% of the median local household income ($96k/yr) (locally 770% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $109k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 66% 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 $389,000

Questions for the listing agent

1. Built in 1890 — 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. 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.
5. 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.
6. 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: 1.32% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.40%
• DSCR: 1.73
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $451,874
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 S End Rd	0.54mi	4/2.0	2,032 (-9%)	16mo	$410,000	$202	46

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 · 0.79% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.19×
• Total profit: $20,624
• Equity at exit: $58,001

10-year hold

• IRR: 12.4%
• Equity multiple: 1.88×
• Total profit: $96,213
• Equity at exit: $33,634

Cash invested: $108,920 (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 06512

• Rents YoY: 0.8%
• Active inventory: 100
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $5,137 high
• Mortgage (P&I): −$2,040
• Tax from tax record: −$367 /mo · $4,407/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,079
• Net cashflow: $1,489

Break-even live

Break-even rent $3,252

Max offer price $389,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,709	-5% $1,599	+0% $1,489	+5% $1,379	+10% $1,269
Rent	-10% $1,083	-5% $1,286	+0% $1,489	+5% $1,692	+10% $1,895
Rate	-1.0pp $1,685	-0.5pp $1,588	base $1,489	+0.5pp $1,388	+1.0pp $1,286

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,138
Total (2 units)			$5,137

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 1st Ave East Haven, CT	4.0	3.5	2842	$5,000	$1.76	4d	1	0.90mi
116 Townsend Ave New Haven, CT	3.0	1.5	1932	$3,500	$1.81	45d	1	1.00mi
25 Beecher Pl New Haven, CT	3.0	1.5	1414	$2,700	$1.91	45d	1	1.10mi
420 Short Beach Rd East Haven, CT	3.0	2.0	1500	$2,200	$1.47	45d	1	1.23mi
356 Townsend Ave New Haven, CT	3.0	2.0	1572	$3,000	$1.91	4d	1	1.43mi

Listing history 8 events

1. 2026-06-18
   days on market $389,000 Active 6 DOM
2. 2026-06-17
   days on market $389,000 Active 5 DOM
3. 2026-06-16
   days on market $389,000 Active 4 DOM
4. 2026-06-15
   days on market $389,000 Active 3 DOM
5. 2026-06-14
   remarks 438-char remark
6. 2026-06-14
   pricestatusdays on marketlisting id $389,000 Active 1 DOM
7. 2026-04-30
   status Under Contract
8. 2026-04-23
   listed $399,900 Active

ⓘ 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: $4,407 · $367/mo
• Projected year-2 tax: $6,366 · $530/mo
• Expected delta: +$1,959/yr (+$163/mo · 44.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,644
• − Mortgage interest: −$21,790
• − Property taxes: −$4,407
• − Insurance: −$1,945
• − Repairs & maintenance: −$4,932
• − Management: −$4,932
• − Depreciation: −$11,316
• Taxable income: $12,323
• Est. tax owed @ 24.0%: −$2,957
• After-tax cash flow: $14,910/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: East Haven School District
• NCES district ID: 0901290
• Math proficiency: 25% ▼ -7.00%
• Reading proficiency: 40% ▼ -7.00%
• Median HH income: $61,869
• Composite: 29.35/100
• National rank: #6534
• State rank: #118 of 153 in CT

Livability — East Haven

• Score: 70/100
• State rank: #99
• US rank: #7805

Category grades

Amenities F Commute F Cost of living C+ Crime A- Employment B- Housing A+ Health & safety B+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Haven, CT
• County: New Haven County · 688,236 people
• City population: 28,830
• Metro: New Haven-Milford, CT
• Population (ZIP): 28,830
• Household income: $96,146
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 770.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 19% Two or more races 9% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8%
• Common ancestry: Romanian 5% Lithuanian 2% Russian 1%
• Foreign-born: 12% · Canada, China, Jamaica
• Languages at home: 81% English-only · Spanish 12% Other Indo-European 3% Other Asian/Pacific 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: ▼ -302.63%
• Current HPI: 302.2679
• Rent YoY: ▲ 0.79%
• 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

2 events — show timeline

• 2026-04-30 Pending — Smart MLS
• 2026-04-23 Listed $399,900 Smart MLS

Property tax history

+1.1%/yr

Latest (2023): $4,407 · +0.0% YoY. Source: county tax records.