358 Center St · West Haven, CT 06516

$450,000

4 bd · 2.0 ba · 2,409 sqft · MultiFamily public records · 6 Days on market

Built 1930 6,098 sqft lot $187/sqft · at area comps Est $472k · at est.

---

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 +19.0/30.0
• ARV discount +9.6/15.0
• DSCR +6.0/10.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

This home is located on quiet one way street. This is the perfect live in or investor home. Second and third floor are combined for one huge apartment. Walking distance to the west haven center and beach.

Key facts

• New flooring
• Finished third level
• Updated bathrooms

Tags

• FINISHED THIRD LEVEL
• UPDATED KITCHENS
• UPDATED BATHROOMS
• NEW FIXTURES
• NEW FLOORING
• NEW WINDOWS

Property features AI

Finance

• Other: Home warranty offered
• Financial info: Assessed value available

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas for heating and domestic hot water
• Home design: Multi-family (2-family) property
• Construction: Frame construction; Brick foundation; Yellow exterior siding with shingle and asbestos materials; Asphalt shingle roof
• Exterior features: Sidewalk; Porch; Level lot

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating; Natural gas hot water
• Interior features: 10 total rooms; Full finished basement with interior access and walk-out; Has heated, finished walk-up attic
• Laundry & utility: Basement laundry hook-ups

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $469 ($6k/yr) — positive. Per door: $234/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Cap rate 7.5% vs local median 4.3% in West 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 83/100 on livability (#6 in CT, #915 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: schools D+, amenities D.
• West Haven School District (suburban): math 26% / reading 38% proficiency, ranked #121 of 153 in CT (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.9%/yr); 151 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $4,570/mo this rent would consume 74% of the median local household income ($74k/yr) (locally 2671% 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 $14k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $290k; list at $450k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% 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 $450,000

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 1930 — 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. 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.
7. 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.
8. 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: 1.02% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.46%
• DSCR: 1.20
• GRM: 8.2

CMA / ARV

• ARV (median comp): $472,484
• List price: $450,000
• Delta: -4.76%
• 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
105 Church St	0.16mi	5/2.5 (+1)	2,291 (-5%)	5mo	$428,000	$187	73
271 Elm St	0.31mi	3/2.0 (-1)	2,498 (+4%)	6mo	$240,000	$96	70
24 George St	0.35mi	4/2.0	2,548 (+6%)	6mo	$550,000	$216	69
76 Center St	0.63mi	4/2.0	2,201 (-9%)	2mo	$500,000	$227	55
577 Third Ave	0.56mi	5/3.0 (+1)	2,406 (-0%)	16mo	$525,000	$218	52
441 Savin Ave	0.54mi	4/2.0	2,168 (-10%)	10mo	$452,500	$209	49
339 Washington Ave	0.47mi	4/2.0	2,092 (-13%)	9mo	$428,000	$205	49
72 Atwater St	0.60mi	5/3.5 (+1)	2,215 (-8%)	5mo	$565,000	$255	43
18 Smith St	0.50mi	5/2.0 (+1)	2,114 (-12%)	16mo	$400,000	$189	38
16 Wharton St	0.50mi	5/3.0 (+1)	2,166 (-10%)	17mo	$565,500	$261	36
567 Third Ave	0.56mi	5/3.0 (+1)	2,688 (+12%)	16mo	$500,000	$186	32
209 Campbell Ave	0.65mi	3/2.5 (-1)	2,058 (-15%)	15mo	$350,000	$170	26

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 · 3.9% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.69×
• Total profit: $-38,814
• Equity at exit: $67,096

10-year hold

• IRR: 2.4%
• Equity multiple: 1.18×
• Total profit: $22,436
• Equity at exit: $38,908

Cash invested: $126,000 (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 06516

• Rents YoY: 3.9%
• Active inventory: 151
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $4,570 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$594 /mo · $7,133/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$960
• Net cashflow: $469

Break-even live

Break-even rent $3,977

Max offer price $450,000

Occupancy floor 85%

Sensitivity live

Price	-10% $723	-5% $596	+0% $469	+5% $341	+10% $214
Rent	-10% $108	-5% $288	+0% $469	+5% $649	+10% $830
Rate	-1.0pp $695	-0.5pp $583	base $469	+0.5pp $352	+1.0pp $233

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,570
Total (2 units)			$4,570

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 Main St Unit 2nd fl West Haven, CT	4.0	1.0	1967	$2,400	$1.22	24d	1	0.47mi
17 Treadwell St West Haven, CT	4.0	1.0	2814	$2,450	$0.87	24d	1	0.55mi
280 3rd Ave Unit 2nd fl West Haven, CT	4.0	2.0	1819	$2,500	$1.37	3d	1	0.70mi
37 Center St Unit 2 West Haven, CT	5.0	2.0	2500	$3,300	$1.32	3d	1	0.73mi
50 Wood St West Haven, CT	3.0	1.0	2314	$2,400	$1.04	3d	1	0.77mi
180 Peck Ave West Haven, CT	3.0	1.0	2740	$2,400	$0.88	24d	1	0.80mi

Listing history 10 events

1. 2026-05-07
   status Under Contract 910-char remark
2. 2026-05-02
   historical Under Contract - Continue to Show 910-char remark
3. 2026-05-01
   listed $450,000 Active 910-char remark
4. 2006-11-10
   soldstatus $290,000
5. 2006-11-10
   soldstatus $290,000
6. 2006-11-09
   soldstatus $285,000 204-char remark

   Show marketing remark (204 chars)

   This home is located on quiet one way street. This is the perfect live in or investor home. Second and third floor are combined for one huge apartment. Walking distance to the west haven center and beach.

7. 2006-08-14
   listed $287,000 204-char remark

   Show marketing remark (204 chars)

   This home is located on quiet one way street. This is the perfect live in or investor home. Second and third floor are combined for one huge apartment. Walking distance to the west haven center and beach.

8. 2004-05-12
   soldstatus $199,900
9. 2004-04-15
   soldstatus $199,900

   Show marketing remark (228 chars)

   Great investment, 2 units, 2nd and 3rd fl comb for lg 4 bdrm 2 bth unit close todowntown and bus all separate util 2 laundry hookups, deep lot, loads of potetail needs some tlc being sold as is imm occup, bring offers, wont last

10. 2004-02-28
    listed $199,900

    Show marketing remark (228 chars)

    Great investment, 2 units, 2nd and 3rd fl comb for lg 4 bdrm 2 bth unit close todowntown and bus all separate util 2 laundry hookups, deep lot, loads of potetail needs some tlc being sold as is imm occup, bring offers, wont last

ⓘ 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: $7,133 · $594/mo
• Projected year-2 tax: $8,382 · $698/mo
• Expected delta: +$1,248/yr (+$104/mo · 17.5%)

ⓘ 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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% 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: $54,840
• − Mortgage interest: −$25,207
• − Property taxes: −$7,133
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,387
• − Management: −$4,387
• − Depreciation: −$13,091
• Taxable loss: −$1,615
• Est. tax savings @ 24.0%: +$388
• After-tax cash flow: $6,010/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: West Haven School District
• NCES district ID: 0904950
• Math proficiency: 26% ▼ -13.00%
• Reading proficiency: 38% ▼ -11.00%
• Median HH income: $52,405
• Composite: 28.05/100
• National rank: #6840
• State rank: #121 of 153 in CT

Livability — West Haven

• Score: 83/100
• State rank: #6
• US rank: #915

Category grades

Amenities D Commute A+ Cost of living B Crime A Employment B Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Haven, CT
• County: New Haven County · 688,236 people
• City population: 55,351
• Metro: New Haven-Milford, CT
• Population (ZIP): 55,351
• Household income: $74,382
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2671.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 47% Hispanic / Latino 26% Black 18% Two or more races 10% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 1%
• Common ancestry: Romanian 4% Lithuanian 3% Russian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 70% English-only · Spanish 17% Other Indo-European 5% Arabic 3%

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: ▼ -312.86%
• Current HPI: 307.0655
• Rent YoY: ▲ 3.90%
• 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

+125.1% since first listed

10 events — show timeline

• 2026-05-07 Pending — Smart MLS
• 2026-05-02 Contingent — Smart MLS
• 2026-05-01 Listed $450,000 Smart MLS
• 2006-11-10 Sold (Public Records) $290,000 Public Records
• 2006-11-10 Sold (Public Records) $290,000 Public Records
• 2006-11-09 Sold (MLS) $285,000 Smart MLS
• 2006-08-14 Listed $287,000 Smart MLS
• 2004-05-12 Sold (Public Records) $199,900 Public Records
• 2004-04-15 Sold (MLS) $199,900 Smart MLS
• 2004-02-28 Listed $199,900 Smart MLS

Property tax history

+1.3%/yr

Latest (2023): $7,133 · +2.0% YoY. Source: county tax records.