180 Portsea St · New Haven, CT 06519

$439,000

6 bd · 3.0 ba · 3,158 sqft · MultiFamily public records · 52 Days on market

Built 1900 4,356 sqft lot $139/sqft · at area comps Est $443k · at est.

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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 +22.8/30.0
• Appreciation +9.9/10.0
• ARV discount +7.9/15.0
• DSCR +7.3/10.0
• 1% rule +5.8/10.0
• 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

* * * 2 Family * * with * * * Fully finished 3rd Floor Owner Suite with kitchen and bath * * * Exceptional Investment Opportunity steps from Yale-New Haven Hospital & Union Station! This turn-key 2-family features over 3,300+ square feet of living space across three levels. Units 1 & 2 offer spacious 2BR/1BA layouts (~1,200 sqft each) with new appliances, dishwashers, and dedicated laundry hookups. The 3rd floor serves as a large 2 bedroom owner's suite-ideal for an owner-occupant or expanded rental income. Recent upgrades throughout. Separate utilities (tenant paid) and off-street parking included. High-demand rental location with proximity to downtown and major tran

Key facts

• 4,356 sq ft lot
• Built 1900
• Listed 51 days

Property features AI

Finance

• Other: Property marketed as multi-family for sale
• Financial info: Assessed value listed (financial details provided)
• HOA & community: No HOA details provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family 2-family property
• Construction: Built with frame construction; Concrete foundation; Asphalt shingle roof; Vinyl siding
• Exterior features: Level lot; Public transportation nearby

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 6 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 3 full bathrooms
• Heating & cooling: Natural gas heating with hot air system
• Interior features: Total of 20 rooms; Full, unfinished basement; Finished walk-up attic
• Laundry & utility: All units have laundry hook-ups; 30-gallon natural gas hot water tank

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.0-bath units multifamily listed at $439k.

Deal economics

• At list price, monthly cash flow is $760 ($9k/yr) — positive. Per door: $380/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $439k).
• Recommended offer: $426k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.9% 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); 45 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $4,732/mo this rent would consume 114% 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 $46k of equity ($3k loan paydown + $43k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $123k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$74k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($426k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $24k; list at $439k implies a 1722% 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, 58% 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 $425,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.08% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.42%
• DSCR: 1.33
• GRM: 7.7

CMA / ARV

• ARV (median comp): $443,392
• List price: $439,000
• Delta: -0.99%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
148 Plymouth St	0.54mi	6/3.0	3,152 (-0%)	5mo	$415,000	$132	70
32 Lamberton St	0.41mi	6/3.0	3,021 (-4%)	5mo	$535,000	$177	70
46 Hurlburt St	0.48mi	6/3.0	3,249 (+3%)	4mo	$440,000	$135	69
589 Washington Ave	0.38mi	6/3.0	3,201 (+1%)	15mo	$535,000	$167	67
423 Howard Ave	0.31mi	6/2.0	3,026 (-4%)	12mo	$443,000	$146	65
256 Davenport Ave	0.62mi	6/3.0	3,105 (-2%)	7mo	$415,000	$134	63
41 Cassius St	0.34mi	6/3.0	3,551 (+12%)	4mo	$410,000	$115	60
50 Liberty St	0.06mi	7/3.0 (+1)	2,730 (-14%)	15mo	$492,500	$180	57
29 Kossuth St	0.54mi	6/3.0	3,588 (+14%)	9mo	$330,000	$92	44
102 Plymouth St	0.63mi	6/3.0	3,528 (+12%)	12mo	$457,500	$130	41
272 Greenwich Ave	0.74mi	6/3.0	2,684 (-15%)	14mo	$450,000	$168	29
843 Congress Ave	0.68mi	6/4.0	2,688 (-15%)	18mo	$394,000	$147	24

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: 29.4%
• Equity multiple: 3.30×
• Total profit: $283,258
• Equity at exit: $389,401

10-year hold

• IRR: 25.7%
• Equity multiple: 7.49×
• Total profit: $797,591
• Equity at exit: $833,365

Cash invested: $122,920 (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: 45
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $4,732 high
• Mortgage (P&I): −$2,302
• Tax from tax record: −$493 /mo · $5,916/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$994
• Net cashflow: $760

Break-even live

Break-even rent $3,770

Max offer price $439,000

Occupancy floor 79%

Sensitivity live

Price	-10% $1,009	-5% $884	+0% $760	+5% $636	+10% $512
Rent	-10% $386	-5% $573	+0% $760	+5% $947	+10% $1,134
Rate	-1.0pp $981	-0.5pp $872	base $760	+0.5pp $646	+1.0pp $531

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$4,732
Total (2 units)			$4,732

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: $109,750
• Closing costs: $13,170
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	45d	1	0.82mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3097	$6,250	$2.02	24d	1	0.90mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	15d	1	0.90mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	4d	1	1.04mi
30 Trumbull St New Haven, CT	5.0	4.0	2668	$5,000	$1.87	4d	1	1.19mi
54 Trumbull St Unit 54-1 New Haven, CT	5.0	2.5	2250	$6,695	$2.98	15d	1	1.19mi
37 Center St Unit 2 West Haven, CT	5.0	2.0	2500	$3,300	$1.32	4d	1	1.43mi

Listing history 19 events

1. 2026-06-21
   days on market $439,000 Active 52 DOM
2. 2026-06-18
   days on market $439,000 Active 49 DOM
3. 2026-06-17
   days on market $439,000 Active 48 DOM
4. 2026-06-16
   days on market $439,000 Active 47 DOM
5. 2026-06-15
   days on market $439,000 Active 46 DOM
6. 2026-06-14
   days on market $439,000 Active 44 DOM
7. 2026-06-13
   statusdays on market $439,000 Active 43 DOM
8. 2026-06-10
   days on market $439,000 Under Contract - Continue to Show 41 DOM
9. 2026-06-09
   days on market $439,000 Under Contract - Continue to Show 40 DOM
10. 2026-06-08
    days on market $439,000 Under Contract - Continue to Show 39 DOM
11. 2026-06-07
    days on market $439,000 Under Contract - Continue to Show 38 DOM
12. 2026-06-05
    days on market $439,000 Under Contract - Continue to Show 35 DOM
13. 2026-06-03
    days on market $439,000 Under Contract - Continue to Show 34 DOM
14. 2026-06-03
    days on market $439,000 Under Contract - Continue to Show 33 DOM
15. 2026-06-01
    days on market $439,000 Under Contract - Continue to Show 32 DOM
16. 2026-05-31
    days on market $439,000 Under Contract - Continue to Show 31 DOM
17. 2026-05-07
    historical Under Contract - Continue to Show 697-char remark
18. 2026-04-30
    listed $439,000 Active 697-char remark
19. 1997-10-27
    soldstatus $24,100

ⓘ 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: $5,916 · $493/mo
• Projected year-2 tax: $7,655 · $638/mo
• Expected delta: +$1,739/yr (+$145/mo · 29.4%)

ⓘ 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 58% 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: $56,784
• − Mortgage interest: −$24,591
• − Property taxes: −$5,916
• − Insurance: −$2,195
• − Repairs & maintenance: −$4,543
• − Management: −$4,543
• − Depreciation: −$12,771
• Taxable income: $2,226
• Est. tax owed @ 24.0%: −$534
• After-tax cash flow: $8,588/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

+1721.6% since first listed

4 events — show timeline

• 2026-06-11 Relisted — Smart MLS
• 2026-05-07 Contingent — Smart MLS
• 2026-04-30 Listed $439,000 Smart MLS
• 1997-10-27 Sold (Public Records) $24,100 Public Records

Property tax history

+6.1%/yr

Latest (2023): $5,916 · -6.4% YoY. Source: county tax records.