None · New Haven, CT 06519

$390,000

5 bd · 2.0 ba · 2,122 sqft · MultiFamily public records · 39 Days on market

Built 1930 6,098 sqft lot $184/sqft · 11% above area Est $351k · 11% over

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Why this score? — see what drove the C 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 +22.9/30.0
• Appreciation +9.9/10.0
• DSCR +7.4/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Multi-family units

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

Listing remarks MLS

Investors take notice Fully rented two-family. Property is situated on a dead-end road. The downstairs unit features a newly remodeled 2-bedroom layout with washer dryer hook ups in unit, and basement access. The upstairs offers a larger 3-bedroom unit. This property is conveniently located near public transportation lines and provides easy access to I-95. Beneficial features include individual electric water heaters for each unit and efficient natural gas heating. Additionally, a generous 3-car garage adds further value, providing ample parking and storage space.

Key facts

• Basement access
• Easy access to i-95
• Dead-end road

Tags

• DEAD-END ROAD
• NEWLY REMODELED LAYOUT
• WASHER DRYER IN UNIT
• BASEMENT ACCESS
• PUBLIC TRANSPORTATION LINES
• EASY ACCESS TO I-95

Property features AI

Exterior

• Parking: Detached garage; 4 garages; Parking lot; Off-street parking; Unassigned parking; 10 total parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas hot water with 40-gallon tank
• Home design: Multi-family (2-family) property
• Construction: Frame construction; Concrete foundation
• Exterior features: Level lot located on a cul-de-sac; Vinyl siding; Asphalt shingle roof

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating; Hot water heating; Natural gas heating fuel
• Interior features: Ceiling fans; Full basement; Attic with walk-up access; 10 total rooms
• Laundry & utility: Laundry on 1st floor; Washer/Dryer in some units

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive. Per door: $343/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $390k).
• Recommended offer: $378k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $4,200/mo this rent would consume 102% 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 $41k of equity ($3k loan paydown + $38k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $109k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$66k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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 $280k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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.

Recommended offer $378,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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 1930 — 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. 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: 1.08% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.53%
• DSCR: 1.34
• GRM: 7.7

CMA / ARV

• ARV (median comp): $350,840
• List price: $390,000
• Delta: 11.16%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
133 Plymouth St	0.16mi	6/3.0 (+1)	2,100 (-1%)	4mo	$275,000	$131	79
152 Lamberton St	0.08mi	6/3.0 (+1)	2,080 (-2%)	8mo	$340,000	$163	78
45 Frank St	0.50mi	6/3.0 (+1)	2,120 (-0%)	4mo	$430,000	$203	64
46 Liberty St	0.64mi	4/2.0 (-1)	2,110 (-1%)	2mo	$320,000	$152	63
95 Frank St	0.43mi	6/3.0 (+1)	2,243 (+6%)	2mo	$385,000	$172	60
20-22 Hurlburt St	0.15mi	6/3.0 (+1)	2,429 (+14%)	0mo	$362,500	$149	60
171 Frank St	0.36mi	5/3.0	1,975 (-7%)	10mo	$340,000	$172	60
93 Spring St	0.68mi	4/2.0 (-1)	2,160 (+2%)	3mo	$505,000	$234	58
222 Howard Ave	0.39mi	5/3.0	2,311 (+9%)	11mo	$470,000	$203	54
56 Ann St	0.75mi	5/3.0	2,067 (-3%)	6mo	$407,000	$197	51
44 Lambert St	0.55mi	6/3.0 (+1)	2,256 (+6%)	11mo	$460,000	$204	46
81 S Water St	0.71mi	4/2.0 (-1)	1,869 (-12%)	4mo	$475,000	$254	39

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: 29.5%
• Equity multiple: 3.31×
• Total profit: $252,287
• Equity at exit: $345,937

10-year hold

• IRR: 25.8%
• Equity multiple: 7.50×
• Total profit: $709,933
• Equity at exit: $740,347

Cash invested: $109,200 (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: 16.3×

Monthly cashflow live

• Estimated rent: $4,200 high
• Mortgage (P&I): −$2,045
• Tax from tax record: −$425 /mo · $5,096/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$882
• Net cashflow: $686

Break-even live

Break-even rent $3,332

Max offer price $390,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,994
1× unit	3	1	$2,207
Total (2 units)			$4,200

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84 Morris St Unit 2nd Fl New Haven, CT	5.0	2.0	1410	$1,825	$1.29	2d	1	0.17mi
36 Cassius St New Haven, CT	4.0	1.5	1872	$2,300	$1.23	44d	1	0.38mi
34 Cassius St Unit 36 New Haven, CT	5.0	2.0	1872	$2,300	$1.23	44d	1	0.39mi
461 Howard Ave Unit 3 New Haven, CT	4.0	1.0	1450	$1,950	$1.34	44d	1	0.43mi
37 Center St Unit 2 West Haven, CT	5.0	2.0	2500	$3,300	$1.32	2d	1	0.80mi
203 Main St Unit 2nd fl West Haven, CT	4.0	1.0	1967	$2,400	$1.22	23d	1	1.07mi
271 Elm St Unit 2 West Haven, CT	4.0	2.0	1435	$3,000	$2.09	23d	1	1.12mi
17 Treadwell St West Haven, CT	4.0	1.0	2814	$2,450	$0.87	23d	1	1.21mi
87 Union St New Haven, CT	4.0	1.0–4.0	959	$5,543	$5.78	3d	16	1.30mi
41 Howe St New Haven, CT	4.0	2.0	1795	$3,750	$2.09	44d	1	1.33mi
43 Howe St New Haven, CT	4.0	2.0	1995	$4,995	$2.50	14d	1	1.34mi
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	44d	1	1.35mi
280 3rd Ave Unit 2nd fl West Haven, CT	4.0	2.0	1819	$2,500	$1.37	2d	1	1.39mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	14d	1	1.40mi

Listing history 24 events

1. 2026-06-18
   days on market $390,000 Active 39 DOM
2. 2026-06-17
   days on market $390,000 Active 38 DOM
3. 2026-06-16
   days on market $390,000 Active 37 DOM
4. 2026-06-15
   days on market $390,000 Active 36 DOM
5. 2026-06-14
   days on market $390,000 Active 34 DOM
6. 2026-06-13
   days on market $390,000 Active 33 DOM
7. 2026-06-10
   days on market $390,000 Active 31 DOM
8. 2026-06-09
   days on market $390,000 Active 30 DOM
9. 2026-06-08
   days on market $390,000 Active 29 DOM
10. 2026-06-07
    days on market $390,000 Active 28 DOM
11. 2026-06-05
    days on market $390,000 Active 25 DOM
12. 2026-06-03
    days on market $390,000 Active 24 DOM
13. 2026-06-03
    days on market $390,000 Active 23 DOM
14. 2026-06-01
    days on market $390,000 Active 22 DOM
15. 2026-05-31
    days on market $390,000 Active 21 DOM
16. 2026-05-10
    price $390,000 561-char remark
17. 2026-05-10
    listed $380,000 Active 561-char remark
18. 2025-01-28
    soldstatus $280,000 Closed 570-char remark

    Show marketing remark (570 chars)

    Investors take notice Fully rented two-family. Property is situated on a dead-end road. The downstairs unit features a newly remodeled 2-bedroom layout with washer dryer hook ups in unit, and basement access. The upstairs offers a larger 3-bedroom unit. This property is conveniently located near public transportation lines and provides easy access to I-95. Beneficial features include individual electric water heaters for each unit and efficient natural gas heating. Additionally, a generous 3-car garage adds further value, providing ample parking and storage space.

19. 2024-11-01
    status Under Contract 570-char remark

    Show marketing remark (570 chars)

    Investors take notice Fully rented two-family. Property is situated on a dead-end road. The downstairs unit features a newly remodeled 2-bedroom layout with washer dryer hook ups in unit, and basement access. The upstairs offers a larger 3-bedroom unit. This property is conveniently located near public transportation lines and provides easy access to I-95. Beneficial features include individual electric water heaters for each unit and efficient natural gas heating. Additionally, a generous 3-car garage adds further value, providing ample parking and storage space.

20. 2024-10-11
    listed $279,000 Active 570-char remark

    Show marketing remark (570 chars)

    Investors take notice Fully rented two-family. Property is situated on a dead-end road. The downstairs unit features a newly remodeled 2-bedroom layout with washer dryer hook ups in unit, and basement access. The upstairs offers a larger 3-bedroom unit. This property is conveniently located near public transportation lines and provides easy access to I-95. Beneficial features include individual electric water heaters for each unit and efficient natural gas heating. Additionally, a generous 3-car garage adds further value, providing ample parking and storage space.

21. 2024-10-08
    historical $279,000 570-char remark

    Show marketing remark (570 chars)

    Investors take notice Fully rented two-family. Property is situated on a dead-end road. The downstairs unit features a newly remodeled 2-bedroom layout with washer dryer hook ups in unit, and basement access. The upstairs offers a larger 3-bedroom unit. This property is conveniently located near public transportation lines and provides easy access to I-95. Beneficial features include individual electric water heaters for each unit and efficient natural gas heating. Additionally, a generous 3-car garage adds further value, providing ample parking and storage space.

22. 2003-10-09
    soldstatus $125,000
23. 2003-06-06
    soldstatus $64,900

    Show marketing remark (110 chars)

    Two family dwelling- offers good income producer some tlc needed- pre qual and addendums needed with all offer

24. 2003-01-09
    listed $64,900

    Show marketing remark (110 chars)

    Two family dwelling- offers good income producer some tlc needed- pre qual and addendums needed with all offer

ⓘ 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: $5,096 · $425/mo
• Projected year-2 tax: $6,721 · $560/mo
• Expected delta: +$1,625/yr (+$135/mo · 31.9%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $50,400
• − Mortgage interest: −$21,846
• − Property taxes: −$5,096
• − Insurance: −$1,950
• − Repairs & maintenance: −$4,032
• − Management: −$4,032
• − Depreciation: −$11,345
• Taxable income: $2,098
• Est. tax owed @ 24.0%: −$504
• After-tax cash flow: $7,724/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

+500.9% since first listed

9 events — show timeline

• 2026-05-10 Price Changed $390,000 Smart MLS
• 2026-05-10 Listed $380,000 Smart MLS
• 2025-01-28 Sold (MLS) $280,000 Smart MLS
• 2024-11-01 Pending — Smart MLS
• 2024-10-11 Listed $279,000 Smart MLS
• 2024-10-08 Coming Soon $279,000 Smart MLS
• 2003-10-09 Sold (Public Records) $125,000 Public Records
• 2003-06-06 Sold (MLS) $64,900 Smart MLS
• 2003-01-09 Listed $64,900 Smart MLS

Property tax history

+5.9%/yr

Latest (2023): $5,096 · -6.4% YoY. Source: county tax records.