1053 Ella T Grasso Blvd · New Haven, CT 06511

$399,000

4 bd · 4.0 ba · 1,632 sqft · MultiFamily public records · 6 Days on market

Built 1982 2,613 sqft lot Est $312k · 28% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Newer 4 unit property. Great investment!!!

Key facts

• 2,613 sq ft lot
• 4 parking spots
• Built 1982

Property features AI

Exterior

• Parking: Parking lot; 4 parking spaces
• Utilities: Public water connected; Public sewer connected; Gas available in street
• Home design: Multi-family property (4-family)
• Construction: Wood siding; Shingle roof; Concrete foundation; Gray exterior
• Exterior features: Level lot; Near medical facilities, park, and public transportation

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 4 full bathrooms
• Heating & cooling: Baseboard heating; 80-gallon hot water tank; Storm windows
• Interior features: 8 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $4k ($50k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $399k).
• Cap rate 18.9% 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: 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.
• Zoned schools: Barnard Environmental Magnet School (math 6% / reading 22%, grade F, #481 of 553 statewide, top 87%, 467 students, 78% FRL); Hill Regional Career High School (math 8% / reading 27%, grade F, #173 of 194 statewide, top 90%, 651 students, 78% FRL).
• Market conditions: Rents rising (+2.6%/yr); 137 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $8,830/mo this rent would consume 177% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $112k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 22y 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 $171k; list at $399k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 2.21% ✓
• Cap rate: 18.93%
• Cash-on-cash: 45.12%
• DSCR: 3.01
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $311,712
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
55 Miller St	0.04mi	4/2.0	1,757 (+8%)	19mo	$325,000	$185	62
24 Batter Ter	0.40mi	3/2.5 (-1)	1,618 (-1%)	13mo	$320,000	$198	58
945 Ella T Grasso Blvd	0.25mi	4/2.0	1,484 (-9%)	12mo	$170,000	$115	55
14 Westfield St	0.52mi	4/2.0	1,610 (-1%)	18mo	$330,000	$205	51
15 Maple St	0.67mi	3/3.0 (-1)	1,728 (+6%)	2mo	$372,500	$216	48
20 Waverly St	0.58mi	4/2.0	1,626 (-0%)	22mo	$361,000	$222	46
43 Elliott St	0.67mi	5/2.0 (+1)	1,536 (-6%)	7mo	$265,000	$173	40
262 Davenport Ave	0.71mi	4/2.0	1,440 (-12%)	4mo	$275,000	$191	36
393 Orchard St	0.70mi	5/2.0 (+1)	1,776 (+9%)	20mo	$273,000	$154	22

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: 41.8%
• Equity multiple: 2.79×
• Total profit: $199,516
• Equity at exit: $59,492

10-year hold

• IRR: 47.8%
• Equity multiple: 5.52×
• Total profit: $504,446
• Equity at exit: $34,498

Cash invested: $111,720 (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: 15.1×

Monthly cashflow live

• Estimated rent: $8,830 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$516 /mo · $6,192/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,854
• Net cashflow: $4,201

Break-even live

Break-even rent $3,512

Max offer price $399,000

Occupancy floor 47%

Sensitivity live

Price	-10% $4,427	-5% $4,314	+0% $4,201	+5% $4,088	+10% $3,975
Rent	-10% $3,503	-5% $3,852	+0% $4,201	+5% $4,550	+10% $4,899
Rate	-1.0pp $4,402	-0.5pp $4,303	base $4,201	+0.5pp $4,098	+1.0pp $3,992

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$8,832
Total (4 units)			$8,830

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
48 Miller St Unit 1 New Haven, CT	3.0	2.0	1500	$2,000	$1.33	44d	1	0.03mi
185 Winthrop Ave Unit 1 New Haven, CT	3.0	1.0	1357	$2,100	$1.55	3d	1	0.28mi
1616 Chapel St New Haven, CT	4.0	1.5	1443	$2,550	$1.77	44d	1	0.40mi
32 Auburn St Unit 2 New Haven, CT	4.0	1.0	1350	$2,200	$1.63	44d	1	0.40mi
32 Auburn St Unit 2 New Haven, CT	3.0	1.0	1300	$2,300	$1.77	24d	1	0.40mi
408 Legion Ave Unit 2 New Haven, CT	3.0	1.0	1610	$2,000	$1.24	44d	1	0.41mi
1561 Chapel St New Haven, CT	3.0	1.0	1100	$1,950	$1.77	3d	1	0.45mi
1561 Chapel St New Haven, CT	4.0	1.0	1200	$2,150	$1.79	14d	1	0.45mi
1494 Chapel St Unit 1R New Haven, CT	3.0	1.0	1800	$2,000	$1.11	3d	1	0.49mi
1476 Chapel St Unit 301 New Haven, CT	4.0	1.5	1200	$1,800	$1.50	14d	1	0.50mi
5 Gilbert Ave Unit 3 New Haven, CT	5.0	2.0	1240	$1,700	$1.37	24d	1	0.60mi
5 Gilbert Ave Unit 1 New Haven, CT	3.0	1.0	1254	$2,000	$1.59	24d	1	0.60mi
5 Gilbert Ave Unit 1 New Haven, CT	3.0	1.0	1254	$2,000	$1.59	19d	1	0.60mi
54 Orchard St Unit 52B New Haven, CT	3.0	2.0	1200	$2,600	$2.17	44d	1	0.63mi
46 Orchard St Unit 46B New Haven, CT	3.0	2.0	1200	$2,600	$2.17	24d	1	0.63mi
46 Orchard St Unit 46A New Haven, CT	3.0	2.0	1200	$2,600	$2.17	44d	1	0.63mi
154 Norton St Unit 1 New Haven, CT	4.0	1.0	1306	$1,900	$1.45	3d	1	0.64mi
365 Winthrop Ave Unit 1 New Haven, CT	3.0	1.0	1600	$2,295	$1.43	3d	1	0.66mi
34 Bristol St Unit 3 West Haven, CT	3.0	1.0	1370	$2,400	$1.75	44d	1	0.66mi
212 Maple St Unit 1st Floor New Haven, CT	3.0	1.0	1150	$2,800	$2.43	44d	1	0.66mi
212 Maple St New Haven, CT	3.0	1.0	1100	$2,500	$2.27	21d	1	0.66mi
38 Bristol St Unit 3 West Haven, CT	3.0	1.0	1200	$2,400	$2.00	44d	1	0.67mi
365 Orchard St New Haven, CT	2.0–4.0	1.0	1175	$2,395	$2.04	14d	4	0.70mi
10 Kensington St New Haven, CT	3.0	2.0	1150	$2,195	$1.91	44d	1	0.71mi
66 Kensington St Unit 2 New Haven, CT	3.0	2.0	1800	$2,100	$1.17	24d	1	0.78mi
1946 Chapel St Unit 2nd Floor New Haven, CT	3.0	1.0	1115	$3,000	$2.69	11d	1	0.79mi
891 Elm St Unit 2 New Haven, CT	3.0	1.0	1433	$1,500	$1.05	21d	1	0.79mi
120 Dwight St New Haven, CT	3.0	2.0	1750	$3,175	$1.81	21d	2	0.81mi
396 Whalley Ave Unit 3 New Haven, CT	4.0	1.0	1400	$2,400	$1.71	3d	1	0.82mi
49 Hubinger St New Haven, CT	4.0	1.5	2000	$2,950	$1.48	3d	1	0.82mi
109 Hobart St Apt 1 New Haven, CT	3.0	1.0	1220	$2,500	$2.05	44d	1	0.84mi
111 Hobart St Apt 2 New Haven, CT	3.0	1.0	1220	$2,500	$2.05	44d	1	0.84mi
32 Cullen Ave West Haven, CT	3.0	2.0	1080	$3,500	$3.24	3d	1	0.85mi
41 Howe St New Haven, CT	4.0	2.0	1795	$3,750	$2.09	44d	1	0.89mi
41 Howe St Apt 2 New Haven, CT	3.0	1.0	1795	$3,200	$1.78	44d	1	0.89mi
41 Howe St Apt 2 New Haven, CT	3.0	1.0	1795	$3,200	$1.78	24d	1	0.89mi
43 Howe St New Haven, CT	4.0	2.0	1995	$4,995	$2.50	14d	1	0.90mi
402 Crown St Unit 402-1 New Haven, CT	4.0	2.0	1275	$4,995	$3.92	44d	1	0.90mi
29 White St Unit 3 New Haven, CT	3.0	1.0	1240	$1,750	$1.41	24d	1	0.92mi
392 Crown St Unit 392-2 New Haven, CT	3.0	1.0	1150	$2,295	$2.00	44d	1	0.93mi

Listing history 7 events

1. 2026-06-15
   status $399,000 Under Contract 6 DOM
2. 2026-06-09
   days on market $399,000 Active 6 DOM
3. 2026-06-08
   days on market $399,000 Active 5 DOM
4. 2026-06-07
   remarks 351-char remark
5. 2026-06-07
   days on market $399,000 Active 4 DOM
6. 2026-06-05
   remarks 34-char remark
7. 2026-06-05
   listed $399,000 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: $6,192 · $516/mo
• Projected year-2 tax: $7,365 · $614/mo
• Expected delta: +$1,173/yr (+$98/mo · 18.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $105,960
• − Mortgage interest: −$22,350
• − Property taxes: −$6,192
• − Insurance: −$1,995
• − Repairs & maintenance: −$8,477
• − Management: −$8,477
• − Depreciation: −$11,607
• Taxable income: $46,862
• Est. tax owed @ 24.0%: −$11,247
• After-tax cash flow: $39,166/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

+138.9% since first listed

4 events — show timeline

• 2026-06-03 Listed $399,000 Smart MLS
• 2005-02-23 Sold (Public Records) $171,000 Public Records
• 2005-02-22 Sold (MLS) $171,000 Smart MLS
• 2004-07-24 Listed $167,000 Smart MLS

Property tax history

+5.4%/yr

Latest (2023): $6,192 · -6.4% YoY. Source: county tax records.