219 S Orchard St · Wallingford, CT 06492

$699,000

7 bd · 6.0 ba · 3,487 sqft · MultiFamily public records · 35 Days on market

Built 1870 0.38 ac lot $200/sqft · 25% above area Est $559k · 25% over

---

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
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 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: 5 units. confirmed

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

5-unit multifamily in the heart of Wallingford, offered at $750,000. Gas heat, wood frame construction, and a proven rental history make this a straightforward addition to any investor's portfolio. Conveniently located near Route 5 and downtown Wallingford amenities. Financials available to qualified buyers upon request

Key facts

• 0.38 acre lot
• Built 1870
• Listed 35 days

What this means for you Summary

Snapshot

• This is a 5 × 9-bed/6.0-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $5k ($62k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $699k).
• Recommended offer: $678k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Wallingford School District (suburban): math 34% / reading 49% proficiency, ranked #94 of 153 in CT (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 111 active listings in the ZIP; solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $12,219/mo this rent would consume 140% of the median local household income ($105k/yr) (locally 959% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $196k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($678k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $51k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $340k; list at $699k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $678,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1870 — 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. 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: 1.75% ✓
• Cap rate: 15.20%
• Cash-on-cash: 31.81%
• DSCR: 2.42
• GRM: 4.8

CMA / ARV

• ARV (median comp): $559,207
• List price: $699,000
• Delta: 25.00%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 S Whittlesey Ave	0.40mi	8/3.0 (+1)	3,534 (+1%)	16mo	$537,000	$152	49
131 Prince St	0.35mi	6/3.0 (-1)	3,583 (+3%)	17mo	$550,000	$154	48
245 Quinnipiac St	0.50mi	6/3.0 (-1)	3,242 (-7%)	19mo	$465,000	$143	32
261 S Cherry St	0.29mi	8/2.0 (+1)	2,990 (-14%)	19mo	$485,000	$162	27

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.7%
• Equity multiple: 2.11×
• Total profit: $217,105
• Equity at exit: $104,223

10-year hold

• IRR: 34.3%
• Equity multiple: 4.14×
• Total profit: $614,348
• Equity at exit: $60,437

Cash invested: $195,720 (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 06492

• Active inventory: 111
• Price-to-rent: 23.8×

Monthly cashflow live

• Estimated rent: $12,219 medium
• Mortgage (P&I): −$3,666
• Tax from tax record: −$508 /mo · $6,100/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,566
• Net cashflow: $5,188

Break-even live

Break-even rent $5,652

Max offer price $699,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 5× units	9	6	$12,220
Total (5 units)			$12,219

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $699,000 Active 35 DOM
2. 2026-06-17
   days on market $699,000 Active 34 DOM
3. 2026-06-16
   days on market $699,000 Active 33 DOM
4. 2026-06-15
   days on market $699,000 Active 32 DOM
5. 2026-06-14
   pricedays on market $699,000 Active 30 DOM
6. 2026-06-03
   days on market $750,000 Active 28 DOM
7. 2026-06-03
   days on market $750,000 Active 27 DOM
8. 2026-06-01
   days on market $750,000 Active 26 DOM
9. 2026-05-31
   days on market $750,000 Active 25 DOM
10. 2026-05-05
    listed $750,000 Active 321-char remark

    Show marketing remark (321 chars)

    5-unit multifamily in the heart of Wallingford, offered at $750,000. Gas heat, wood frame construction, and a proven rental history make this a straightforward addition to any investor's portfolio. Conveniently located near Route 5 and downtown Wallingford amenities. Financials available to qualified buyers upon request

11. 2022-08-21
    price $1,200
12. 2021-07-30
    soldstatus $340,000
13. 2021-07-29
    soldstatus $340,000 Closed 600-char remark

    Show marketing remark (600 chars)

    This property is listed as a 4 unit, but can be a 5 unit (*owner occupies 2 units) With some TLC the units can be easily rented out or better yet bring your extended family! Everyone has their own space. Large lot, it is 2 parcels on 1 deed. Lots (#58 & #60) Updated porches and off street parking. Upper level has new carpets and beautiful exposed beams. Backyard has the potential to be amazing; a tiered yard with endless possibilities! Total 7 bedrooms, 6 baths. Wallingford Electric! All water heaters are electric; 2 just replaced. Area is central to major highways, shopping and much more!

14. 2021-06-27
    historical Under Contract - Continue to Show 600-char remark

    Show marketing remark (600 chars)

    This property is listed as a 4 unit, but can be a 5 unit (*owner occupies 2 units) With some TLC the units can be easily rented out or better yet bring your extended family! Everyone has their own space. Large lot, it is 2 parcels on 1 deed. Lots (#58 & #60) Updated porches and off street parking. Upper level has new carpets and beautiful exposed beams. Backyard has the potential to be amazing; a tiered yard with endless possibilities! Total 7 bedrooms, 6 baths. Wallingford Electric! All water heaters are electric; 2 just replaced. Area is central to major highways, shopping and much more!

15. 2021-06-09
    status Active 600-char remark

    Show marketing remark (600 chars)

    This property is listed as a 4 unit, but can be a 5 unit (*owner occupies 2 units) With some TLC the units can be easily rented out or better yet bring your extended family! Everyone has their own space. Large lot, it is 2 parcels on 1 deed. Lots (#58 & #60) Updated porches and off street parking. Upper level has new carpets and beautiful exposed beams. Backyard has the potential to be amazing; a tiered yard with endless possibilities! Total 7 bedrooms, 6 baths. Wallingford Electric! All water heaters are electric; 2 just replaced. Area is central to major highways, shopping and much more!

16. 2021-04-20
    listed $369,000 Active 600-char remark

    Show marketing remark (600 chars)

    This property is listed as a 4 unit, but can be a 5 unit (*owner occupies 2 units) With some TLC the units can be easily rented out or better yet bring your extended family! Everyone has their own space. Large lot, it is 2 parcels on 1 deed. Lots (#58 & #60) Updated porches and off street parking. Upper level has new carpets and beautiful exposed beams. Backyard has the potential to be amazing; a tiered yard with endless possibilities! Total 7 bedrooms, 6 baths. Wallingford Electric! All water heaters are electric; 2 just replaced. Area is central to major highways, shopping and much more!

17. 2020-11-20
    historical
18. 2020-10-29
    price $365,000
19. 2020-06-29
    listed $375,000 Active

ⓘ 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: $6,100 · $508/mo
• Projected year-2 tax: $10,529 · $877/mo
• Expected delta: +$4,429/yr (+$369/mo · 72.6%)

ⓘ 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $146,628
• − Mortgage interest: −$39,155
• − Property taxes: −$6,100
• − Insurance: −$3,495
• − Repairs & maintenance: −$11,730
• − Management: −$11,730
• − Depreciation: −$20,335
• Taxable income: $54,083
• Est. tax owed @ 24.0%: −$12,980
• After-tax cash flow: $49,274/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: Wallingford School District
• NCES district ID: 0904740
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $73,423
• Composite: 37.92/100
• National rank: #4310
• State rank: #94 of 153 in CT

Livability — Wallingford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Wallingford Center, CT
• County: New Haven County · 688,236 people
• City population: 44,498
• Metro: New Haven-Milford, CT
• Population (ZIP): 44,498
• Household income: $105,061
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 959.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 11% Two or more races 6% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3%
• Common ancestry: Romanian 11% Lithuanian 5% Russian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 4% Russian/Polish/Slavic 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: ▼ -259.08%
• Current HPI: 248.4652
• Rent YoY: —
• 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

+100.0% since first listed

10 events — show timeline

• 2026-05-05 Listed $750,000 Smart MLS
• 2022-08-21 Price Changed $1,200 RENT.
• 2021-07-30 Sold (Public Records) $340,000 Public Records
• 2021-07-29 Sold (MLS) $340,000 Smart MLS
• 2021-06-27 Contingent — Smart MLS
• 2021-06-09 Relisted — Smart MLS
• 2021-04-20 Listed $369,000 Smart MLS
• 2020-11-20 Listing Removed — Smart MLS
• 2020-10-29 Price Changed $365,000 Smart MLS
• 2020-06-29 Listed $375,000 Smart MLS

Property tax history

+2.7%/yr

Latest (2023): $6,100 · +1.0% YoY. Source: county tax records.