113 Ivy St · New Haven, CT 06511

$565,000

6 bd · 3.0 ba · 3,116 sqft · MultiFamily public records · 9 Days on market

Built 1900 4,356 sqft lot Est $455k · 24% 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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +6.9/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Don't miss this exceptional investment opportunity! This three-family property offers steady rental income and comes with an attached extra lot, providing ample yard space. Ideally located near Yale University, shopping, dining, and entertainment, this property is perfect for investors or owner-occupants looking to maximize value. A rare find in a sought-after location-schedule a showing today!

Key facts

• Steady rental income
• 4,356 sq ft lot
• 2 garage spots

Tags

• THREE-FAMILY PROPERTY
• STEADY RENTAL INCOME
• SOUGHT-AFTER LOCATION

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family (3-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Built as a multi-family property
• Exterior features: Corner lot; Vinyl siding

Interior

• Bedrooms: 9 total bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air heat; Window unit cooling; Natural gas hot water (30-gallon tank)
• Interior features: Partial basement with hatchway; 18 total rooms; Multi-family property with 3 units

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $565k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $493/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $565k).
• Cap rate 9.4% 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 (+2.6%/yr); 137 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $6,703/mo this rent would consume 134% 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 $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 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.
• Current owner paid $470k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $565,000

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 1900 — 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: 1.19% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.23%
• DSCR: 1.50
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $454,936
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
64 Lilac St	0.11mi	6/3.0	3,075 (-1%)	4mo	$363,000	$118	89
98 Thompson St	0.20mi	5/3.0 (-1)	3,042 (-2%)	4mo	$465,000	$153	78
152 Sheffield Ave	0.29mi	6/2.0	3,184 (+2%)	10mo	$410,000	$129	70
77 Gibbs St	0.32mi	5/3.0 (-1)	2,916 (-6%)	0mo	$370,000	$127	69
92 Shepard St	0.31mi	5/3.0 (-1)	3,017 (-3%)	9mo	$415,000	$138	67
445 Dixwell Ave	0.38mi	6/2.0	3,212 (+3%)	7mo	$340,000	$106	67
39 Lander St	0.39mi	6/3.0	2,862 (-8%)	6mo	$490,000	$171	64
229 Goodrich St	0.41mi	7/3.0 (+1)	3,010 (-3%)	10mo	$445,000	$148	62
19 Bassett St	0.24mi	5/3.0 (-1)	2,820 (-10%)	8mo	$415,000	$147	62
292 W Ivy St	0.37mi	5/3.0 (-1)	2,883 (-8%)	6mo	$490,000	$170	60
67 Read St	0.28mi	7/2.5 (+1)	2,672 (-14%)	8mo	$390,000	$146	50
128 Henry St	0.66mi	6/3.0	3,504 (+12%)	10mo	$470,000	$134	40

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: 0.0%
• Equity multiple: 1.00×
• Total profit: $74
• Equity at exit: $84,243

10-year hold

• IRR: 9.3%
• Equity multiple: 1.70×
• Total profit: $110,702
• Equity at exit: $48,851

Cash invested: $158,200 (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 06511

• Home prices YoY: -20.8%
• Rents YoY: 2.6%
• Active inventory: 137
• Price-to-rent: 21.1×

Monthly cashflow live

• Estimated rent: $6,703 high
• Mortgage (P&I): −$2,963
• Tax from tax record: −$617 /mo · $7,403/yr
• Insurance: −$235
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,408
• Net cashflow: $1,480

Break-even live

Break-even rent $4,829

Max offer price $565,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,702
Total (3 units)			$6,703

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: $141,250
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Rent comps 11 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	43d	1	0.27mi
50 Admiral St New Haven, CT	5.0	2.0	2157	$2,700	$1.25	19d	1	0.70mi
432 Norton Pkwy New Haven, CT	5.0	3.0	2493	$4,195	$1.68	43d	1	0.81mi
355 Norton St Unit 1 New Haven, CT	5.0	2.5	2500	$3,300	$1.32	21d	1	0.93mi
347 Sherman Ave New Haven, CT	5.0	3.0	3153	$2,300	$0.73	43d	1	0.98mi
1519 Ella T Grasso Blvd Unit N/A New Haven, CT	5.0	2.0	2750	$4,450	$1.62	23d	1	1.14mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	2d	1	1.28mi
54 Trumbull St Unit 54-1 New Haven, CT	5.0	2.5	2250	$6,695	$2.98	14d	1	1.32mi
30 Trumbull St New Haven, CT	5.0	4.0	2668	$5,000	$1.87	3d	1	1.42mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	14d	1	1.47mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3097	$6,250	$2.02	23d	1	1.47mi

Listing history 8 events

1. 2026-06-13
   statusdays on market $565,000 Under Contract 9 DOM
2. 2026-06-10
   days on market $565,000 Active 8 DOM
3. 2026-06-09
   days on market $565,000 Active 7 DOM
4. 2026-06-08
   days on market $565,000 Active 6 DOM
5. 2026-06-07
   days on market $565,000 Active 5 DOM
6. 2026-06-05
   days on market $565,000 Active 2 DOM
7. 2026-06-03
   remarks 326-char remark
8. 2026-06-03
   listed $565,000 Active 1 DOM

ⓘ 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: $7,403 · $617/mo
• Projected year-2 tax: $9,747 · $812/mo
• Expected delta: +$2,344/yr (+$195/mo · 31.7%)

ⓘ 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 6/10 Major 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: $80,436
• − Mortgage interest: −$31,649
• − Property taxes: −$7,403
• − Insurance: −$2,825
• − Repairs & maintenance: −$6,435
• − Management: −$6,435
• − Depreciation: −$16,436
• Taxable income: $9,253
• Est. tax owed @ 24.0%: −$2,221
• After-tax cash flow: $15,541/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

+564.7% since first listed

19 events — show timeline

• 2026-06-02 Listed $565,000 Smart MLS
• 2025-12-12 Rental Removed $2,000 SMARTMLS
• 2025-10-31 Price Changed $2,000 SMARTMLS
• 2025-10-14 Listed for Rent $2,100 SMARTMLS
• 2025-05-22 Sold (MLS) $470,000 Smart MLS
• 2025-05-17 Pending — Smart MLS
• 2025-03-12 Contingent — Smart MLS
• 2025-03-03 Listed $470,000 Smart MLS
• 2018-09-11 Sold (Public Records) $115,000 Public Records
• 2018-09-10 Sold (MLS) $115,000 Smart MLS
• 2018-05-31 Listing Removed — Smart MLS
• 2018-05-09 Pending — Smart MLS
• 2018-03-09 Contingent — Smart MLS
• 2018-03-05 Listed $90,000 Smart MLS
• 2016-04-07 Listing Removed — Smart MLS
• 2015-03-23 Listed $85,000 Smart MLS
• 2007-11-23 Listing Removed — Smart MLS
• 2007-05-24 Listed $248,000 Smart MLS
• 1987-09-01 Sold (Public Records) $85,000 Public Records

Property tax history

+6.6%/yr

Latest (2023): $7,403 · -6.4% YoY. Source: county tax records.