76 3rd St · New Haven, CT 06519

$379,900

2 bd · 2.0 ba · 1,650 sqft · MultiFamily public records · 96 Days on market

Built 1900 2,613 sqft lot $230/sqft · 13% above area Est $337k · 13% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.9/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +1.8/15.0
• Schools +1.5/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Fantastic property for first time homeowners, investors and owner occupants. Great value-add opportunity. Motivated Seller will entertain all serious offers.

Key facts

• 2,613 sq ft lot
• Built 1900
• Listed 96 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $380k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $380k).
• Recommended offer: $346k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.1% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $6,610/mo this rent would consume 160% 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 $40k of equity ($3k loan paydown + $37k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $106k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($346k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask is 12% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $118k; list at $380k implies a 222% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 55% 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 $345,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 1.74% ✓
• Cap rate: 15.10%
• Cash-on-cash: 31.44%
• DSCR: 2.40
• GRM: 4.8

CMA / ARV

• ARV (median comp): $337,342
• List price: $379,900
• Delta: 12.62%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
149 Greenwich Ave	0.23mi	2/2.0	1,548 (-6%)	17mo	$278,000	$180	65

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: 48.1%
• Equity multiple: 4.59×
• Total profit: $381,435
• Equity at exit: $336,978

10-year hold

• IRR: 42.2%
• Equity multiple: 10.27×
• Total profit: $986,459
• Equity at exit: $721,174

Cash invested: $106,372 (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: 14.4×

Monthly cashflow live

• Estimated rent: $6,610 high
• Mortgage (P&I): −$1,992
• Tax from tax record: −$284 /mo · $3,414/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,388
• Net cashflow: $2,787

Break-even live

Break-even rent $3,082

Max offer price $379,900

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,609
Total (3 units)			$6,610

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: $94,975
• Closing costs: $11,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 Howard Ave New Haven, CT	3.0	1.0	1204	$2,600	$2.16	2d	1	0.03mi
234 Howard Ave Apt 2 New Haven, CT	3.0	1.0	1277	$1,900	$1.49	3d	1	0.04mi
222 Hallock Ave Unit 2 New Haven, CT	2.0	1.0	2226	$1,700	$0.76	44d	1	0.15mi
65 1st St Unit 2 New Haven, CT	2.0	1.0	1100	$1,895	$1.72	44d	1	0.23mi
69 Harbour Close #69 New Haven, CT	2.0	2.5	1777	$3,500	$1.97	2d	1	0.36mi
133 Harbour Close New Haven, CT	2.0	2.5	1587	$3,500	$2.21	2d	1	0.40mi
39 Hurlburt St Unit 2ND New Haven, CT	3.0	1.0	1200	$1,650	$1.38	19d	1	0.42mi
48 Hurlburt St Unit 3 New Haven, CT	2.0	1.0	1250	$1,650	$1.32	3d	1	0.45mi
123 Morris St Unit 2 New Haven, CT	3.0	1.0	1150	$1,900	$1.65	3d	1	0.52mi
21 Edgar St Unit 2 New Haven, CT	3.0	2.0	1380	$2,100	$1.52	44d	1	0.57mi
48 Truman St New Haven, CT	3.0	1.0	1072	$1,900	$1.77	14d	1	0.65mi
232 Columbus Ave Unit 5 New Haven, CT	2.0	1.5	1400	$2,400	$1.71	14d	1	0.75mi
45 Frank St New Haven, CT	2.0	1.0	2120	$1,650	$0.78	44d	1	0.77mi
45 Frank St Unit 3 New Haven, CT	1.0	1.0	2120	$1,450	$0.68	44d	1	0.77mi
16 Daggett St #1 New Haven, CT	2.0	1.0	1515	$1,800	$1.19	3d	1	0.84mi
3 Bayview Pl Unit 2nd Floor West Haven, CT	3.0	1.0	1276	$2,600	$2.04	2d	1	0.86mi
69 Center St West Haven, CT	3.0	2.0	1530	$2,000	$1.31	14d	1	0.88mi
72 Main St Apt 1 West Haven, CT	3.0	1.0	1098	$2,300	$2.09	2d	1	0.88mi
272 1st Ave Unit 1st floor West Haven, CT	3.0	1.0	1250	$2,100	$1.68	44d	1	0.89mi
29 White St Unit 3 New Haven, CT	3.0	1.0	1240	$1,750	$1.41	23d	1	0.89mi
9 Tower Ln New Haven, CT	3.0	1.0–2.0	1054	$4,345	$4.12	2d	74	0.91mi
188 Lafayette St Unit 1383006P New Haven, CT	2.0–3.0	1.0–2.0	1049	$4,388	$4.18	3d	2	1.00mi
433 3rd Ave Unit 2 West Haven, CT	2.0	1.0	1722	$1,700	$0.99	44d	1	1.09mi
201 Center St West Haven, CT	3.0	2.0	1376	$2,400	$1.74	44d	1	1.17mi
60 Baggott St West Haven, CT	3.0	1.0	1242	$2,300	$1.85	23d	1	1.18mi
837 Washington Ave West Haven, CT	2.0	1.0	2050	$1,800	$0.88	23d	1	1.19mi
20 Fair St New Haven, CT	2.0	1.0–2.0	921	$3,985	$4.32	2d	146	1.20mi
46 Orchard St Unit 46B New Haven, CT	3.0	2.0	1200	$2,600	$2.17	23d	1	1.21mi
46 Orchard St Unit 46A New Haven, CT	3.0	2.0	1200	$2,600	$2.17	44d	1	1.21mi
54 Orchard St Unit 52B New Haven, CT	3.0	2.0	1200	$2,600	$2.17	44d	1	1.22mi
90 Crown St New Haven, CT	2.0	1.0–2.0	780	$2,435	$3.12	44d	7	1.23mi
116 Crown St Unit 3A New Haven, CT	2.0	1.5	1541	$3,450	$2.24	23d	1	1.24mi
87 Union St New Haven, CT	4.0	1.0–4.0	959	$3,519	$3.67	3d	16	1.24mi
100 Temple St New Haven, CT	1.0–2.0	1.0–2.0	1088	$2,931	$2.69	21d	6	1.24mi
271 Elm St Unit 1 West Haven, CT	2.0	1.0	1063	$2,500	$2.35	23d	1	1.25mi
196 Crown St Unit 5I New Haven, CT	3.0	1.0	1344	$2,500	$1.86	44d	1	1.26mi
196 Crown St New Haven, CT	1.0–3.0	1.0	993	$2,225	$2.24	2d	2	1.26mi
630 Chapel St New Haven, CT	2.0	1.0–2.0	827	$3,668	$4.44	3d	21	1.30mi
23 Brown St New Haven, CT	3.0	2.0	1350	$2,650	$1.96	3d	1	1.33mi
23 Brown St Unit 3 New Haven, CT	3.0	1.0	1300	$2,650	$2.04	14d	1	1.33mi

Listing history 10 events

1. 2026-05-15
   status Under Contract 157-char remark

   Show marketing remark (157 chars)

   Fantastic property for first time homeowners, investors and owner occupants. Great value-add opportunity. Motivated Seller will entertain all serious offers.

2. 2026-03-28
   price $379,900 157-char remark

   Show marketing remark (157 chars)

   Fantastic property for first time homeowners, investors and owner occupants. Great value-add opportunity. Motivated Seller will entertain all serious offers.

3. 2026-03-28
   status Active 157-char remark

   Show marketing remark (157 chars)

   Fantastic property for first time homeowners, investors and owner occupants. Great value-add opportunity. Motivated Seller will entertain all serious offers.

4. 2026-01-22
   status Under Contract 157-char remark

   Show marketing remark (157 chars)

   Fantastic property for first time homeowners, investors and owner occupants. Great value-add opportunity. Motivated Seller will entertain all serious offers.

5. 2025-12-04
   listed $340,000 Active 157-char remark

   Show marketing remark (157 chars)

   Fantastic property for first time homeowners, investors and owner occupants. Great value-add opportunity. Motivated Seller will entertain all serious offers.

6. 2007-05-31
   historical
7. 2007-01-04
   listed $205,900
8. 2006-08-31
   historical
9. 2006-02-23
   listed $224,900
10. 2004-02-05
    soldstatus $118,000

ⓘ 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: $3,414 · $284/mo
• Projected year-2 tax: $5,772 · $481/mo
• Expected delta: +$2,358/yr (+$196/mo · 69.1%)

ⓘ 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 55% 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: $79,320
• − Mortgage interest: −$21,280
• − Property taxes: −$3,414
• − Insurance: −$1,900
• − Repairs & maintenance: −$6,346
• − Management: −$6,346
• − Depreciation: −$11,052
• Taxable income: $28,983
• Est. tax owed @ 24.0%: −$6,956
• After-tax cash flow: $26,486/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

+221.9% since first listed

10 events — show timeline

• 2026-05-15 Pending — Smart MLS
• 2026-03-28 Price Changed $379,900 Smart MLS
• 2026-03-28 Relisted — Smart MLS
• 2026-01-22 Pending — Smart MLS
• 2025-12-04 Listed $340,000 Smart MLS
• 2007-05-31 Listing Removed — Smart MLS
• 2007-01-04 Listed $205,900 Smart MLS
• 2006-08-31 Listing Removed — Smart MLS
• 2006-02-23 Listed $224,900 Smart MLS
• 2004-02-05 Sold (Public Records) $118,000 Public Records

Property tax history

+6.2%/yr

Latest (2023): $3,414 · -6.4% YoY. Source: county tax records.