46 Arthur St · New Haven, CT 06519

$360,000

5 bd · 2.0 ba · 2,795 sqft · MultiFamily public records · 14 Days on market

Built 1900 5,227 sqft lot Est $408k · 12% 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 +26.5/30.0
• ARV discount +12.8/15.0
• Appreciation +9.9/10.0
• DSCR +9.0/10.0
• 1% rule +7.3/10.0
• 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 MLS

Spacious multi-family home in great condition, good for owner occupant, newer utilities.

Key facts

• Ample natural light
• Two separate units
• Two family home

Tags

• TWO FAMILY HOME
• TWO SEPARATE UNITS
• SPACIOUS LIVING AREAS
• AMPLE NATURAL LIGHT
• CONVENIENTLY SITUATED
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $951 ($11k/yr) — positive. Per door: $476/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $360k).
• Cap rate 9.5% 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $4,442/mo this rent would consume 107% 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 $38k of equity ($2k loan paydown + $35k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $101k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 26y 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 $35k; list at $360k implies a 929% 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 $360,000

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: 1.23% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.32%
• DSCR: 1.50
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $408,070
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Hurlburt St	0.17mi	6/3.0 (+1)	2,677 (-4%)	9mo	$290,000	$108	69
121 Plymouth St	0.22mi	5/2.0	2,539 (-9%)	10mo	$355,000	$140	66
32 Lamberton St	0.21mi	6/3.0 (+1)	3,021 (+8%)	5mo	$535,000	$177	64
423 Howard Ave	0.16mi	6/2.0 (+1)	3,026 (+8%)	12mo	$443,000	$146	64
20-22 Hurlburt St	0.11mi	6/3.0 (+1)	2,429 (-13%)	0mo	$362,500	$149	63
63 Sea St	0.72mi	5/3.0	2,842 (+2%)	0mo	$675,000	$238	59
148 Plymouth St	0.15mi	6/3.0 (+1)	3,152 (+13%)	5mo	$415,000	$132	59
211 Kimberly Ave	0.37mi	6/— (+1)	3,112 (+11%)	2mo	$240,000	$77	57
272 Greenwich Ave	0.42mi	6/3.0 (+1)	2,684 (-4%)	13mo	$450,000	$168	54
11 White St	0.44mi	6/3.0 (+1)	2,502 (-10%)	10mo	$445,000	$178	44
201 Howard Ave	0.45mi	4/2.0 (-1)	2,402 (-14%)	14mo	$320,000	$133	39
256 Davenport Ave	0.69mi	6/3.0 (+1)	3,105 (+11%)	7mo	$415,000	$134	35

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: 32.4%
• Equity multiple: 3.51×
• Total profit: $253,408
• Equity at exit: $319,327

10-year hold

• IRR: 28.1%
• Equity multiple: 7.95×
• Total profit: $700,358
• Equity at exit: $683,397

Cash invested: $100,800 (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: 13.5×

Monthly cashflow live

• Estimated rent: $4,442 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$520 /mo · $6,242/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$933
• Net cashflow: $951

Break-even live

Break-even rent $3,238

Max offer price $360,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,155	-5% $1,053	+0% $951	+5% $849	+10% $747
Rent	-10% $600	-5% $776	+0% $951	+5% $1,127	+10% $1,302
Rate	-1.0pp $1,132	-0.5pp $1,043	base $951	+0.5pp $858	+1.0pp $763

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,442
Total (2 units)			$4,442

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37 Center St Unit 2 West Haven, CT	5.0	2.0	2500	$3,300	$1.32	3d	1	1.04mi
43 Howe St New Haven, CT	4.0	2.0	1995	$4,995	$2.50	15d	1	1.13mi
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	44d	1	1.14mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	15d	1	1.19mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3097	$6,250	$2.02	24d	1	1.19mi
203 Main St Unit 2nd fl West Haven, CT	4.0	1.0	1967	$2,400	$1.22	24d	1	1.31mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	3d	1	1.36mi
441 Chapel St Unit 2A1 (shared) New Haven, CT	4.0	4.0	2151	$3,600	$1.67	3d	1	1.43mi
17 Treadwell St West Haven, CT	4.0	1.0	2814	$2,450	$0.87	24d	1	1.45mi

Listing history 10 events

1. 2026-01-13
   status Under Contract
2. 2026-01-08
   status Active
3. 2025-12-31
   status Under Contract
4. 2025-12-22
   listed $360,000 Active
5. 2014-05-05
   soldstatus $35,000
6. 2001-12-27
   soldstatus $69,000
7. 2001-12-27
   soldstatus $69,000
8. 2001-12-20
   soldstatus $69,000 88-char remark

   Show marketing remark (88 chars)

   Spacious multi-family home in great condition, good for owner occupant, newer utilities.

9. 2000-09-15
   listed $69,900 88-char remark

   Show marketing remark (88 chars)

   Spacious multi-family home in great condition, good for owner occupant, newer utilities.

10. 1994-10-24
    soldstatus $85,000

ⓘ 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: $6,242 · $520/mo
• Projected year-2 tax: $6,973 · $581/mo
• Expected delta: +$731/yr (+$61/mo · 11.7%)

ⓘ 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 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: $53,304
• − Mortgage interest: −$20,166
• − Property taxes: −$6,242
• − Insurance: −$1,800
• − Repairs & maintenance: −$4,264
• − Management: −$4,264
• − Depreciation: −$10,473
• Taxable income: $6,095
• Est. tax owed @ 24.0%: −$1,463
• After-tax cash flow: $9,951/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

+323.5% since first listed

10 events — show timeline

• 2026-01-13 Pending — Smart MLS
• 2026-01-08 Relisted — Smart MLS
• 2025-12-31 Pending — Smart MLS
• 2025-12-22 Listed $360,000 Smart MLS
• 2014-05-05 Sold (Public Records) $35,000 Public Records
• 2001-12-27 Sold (Public Records) $69,000 Public Records
• 2001-12-27 Sold (Public Records) $69,000 Public Records
• 2001-12-20 Sold (MLS) $69,000 Smart MLS
• 2000-09-15 Listed $69,900 Smart MLS
• 1994-10-24 Sold (Public Records) $85,000 Public Records

Property tax history

+8.0%/yr

Latest (2023): $6,242 · -6.4% YoY. Source: county tax records.