149 Plymouth St · New Haven, CT 06519

$249,900

6 bd · 2.0 ba · 1,872 sqft · MultiFamily public records · 6 Days on market

Built 1880 4,356 sqft lot Est $331k · 25% under

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Why this score? — see what drove the A 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 +15.0/15.0
• 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
• 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

Investor opportunity at 149 Plymouth Street. This classic two family offers generous living space, solid bones, and endless potential for the right buyer willing to put in some work. Whether you're looking to renovate for rental income, add to your investment portfolio, or create an owner occupied property, the possibilities are here. Conveniently located near highways, schools, shopping, and everyday amenities. Property is being sold with contents remaining at time of closing. Bring your vision and unlock the potential.

Key facts

• Conveniently located
• 4,356 sq ft lot
• Built 1880

Tags

• GENEROUS LIVING SPACE
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas
• Home design: Multi-family 2-family property
• Construction: Frame construction; Stone foundation
• Exterior features: Treed, level lot; Asbestos exterior siding; Asphalt shingle roof

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating; Natural gas hot water and heat fuel
• Interior features: 12 total rooms; Full, unfinished basement; Has attic with partial finish and walk-up access

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $894/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Cap rate 14.9% 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; 6 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 $4,353/mo this rent would consume 105% 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 $26k of equity ($2k loan paydown + $25k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1880 — 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 $249,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 14.88%
• Cash-on-cash: 30.68%
• DSCR: 2.37
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $331,344
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
99 Kimberly Ave	0.04mi	6/2.0	1,806 (-4%)	24mo	$345,000	$191	73
133 Plymouth St	0.03mi	6/3.0	2,100 (+12%)	4mo	$275,000	$131	71
114 Hurlburt St	0.33mi	6/2.0	1,896 (+1%)	17mo	$390,000	$206	68
533 Howard Ave	0.42mi	6/2.0	1,772 (-5%)	6mo	$235,000	$133	67
152 Lamberton St	0.13mi	6/3.0	2,080 (+11%)	8mo	$340,000	$163	65
220 Greenwich Ave	0.33mi	5/2.0 (-1)	1,980 (+6%)	12mo	$350,000	$177	60
171 Frank St	0.46mi	5/3.0 (-1)	1,975 (+6%)	10mo	$340,000	$172	53
216 Greenwich Ave	0.33mi	5/3.0 (-1)	1,980 (+6%)	17mo	$310,000	$157	51
45 Frank St	0.52mi	6/3.0	2,120 (+13%)	4mo	$430,000	$203	46
53 Thorn St	0.61mi	5/2.0 (-1)	1,602 (-14%)	14mo	$350,000	$218	31
98 Carlisle St	0.56mi	6/4.0	1,656 (-12%)	21mo	$350,000	$211	29

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: 47.5%
• Equity multiple: 4.55×
• Total profit: $248,124
• Equity at exit: $221,666

10-year hold

• IRR: 41.6%
• Equity multiple: 10.19×
• Total profit: $642,971
• Equity at exit: $474,392

Cash invested: $69,972 (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 06519

• Home prices YoY: 2.7%
• Rents YoY: 3.3%
• Active inventory: 46
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $4,353 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$235 /mo · $2,823/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$914
• Net cashflow: $1,789

Break-even live

Break-even rent $2,088

Max offer price $249,900

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,352
Total (2 units)			$4,353

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34 Cassius St Unit 36 New Haven, CT	5.0	2.0	1872	$2,300	$1.23	44d	1	0.22mi
84 Morris St Unit 2nd Fl New Haven, CT	5.0	2.0	1410	$1,825	$1.29	3d	1	0.25mi
37 Center St Unit 2 West Haven, CT	5.0	2.0	2500	$3,300	$1.32	3d	1	0.91mi
5 Gilbert Ave Unit 3 New Haven, CT	5.0	2.0	1240	$1,700	$1.37	24d	1	1.30mi
67 Edgewood Ave New Haven, CT	7.0	2.5	2000	$6,100	$3.05	44d	1	1.45mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	3d	1	1.50mi

Listing history 3 events

1. 2026-05-20
   listed $249,900 Active
2. 2007-11-07
   historical
3. 2007-06-07
   listed $175,000

ⓘ 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: $2,823 · $235/mo
• Projected year-2 tax: $4,085 · $340/mo
• Expected delta: +$1,262/yr (+$105/mo · 44.7%)

ⓘ 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) · 20% 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: $52,236
• − Mortgage interest: −$13,998
• − Property taxes: −$2,823
• − Insurance: −$1,250
• − Repairs & maintenance: −$4,179
• − Management: −$4,179
• − Depreciation: −$7,270
• Taxable income: $18,538
• Est. tax owed @ 24.0%: −$4,449
• After-tax cash flow: $17,019/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

+42.8% since first listed

3 events — show timeline

• 2026-05-20 Listed $249,900 Smart MLS
• 2007-11-07 Listing Removed — Smart MLS
• 2007-06-07 Listed $175,000 Smart MLS

Property tax history

+3.3%/yr

Latest (2023): $2,823 · -6.4% YoY. Source: county tax records.