44 Hard St #2 · New Haven, CT 06515

$155,000

2 bd · 2.0 ba · 1,155 sqft · Condo public records · 6 Days on market

Built 1875 $134/sqft · 35% below area Est $237k · 35% under $350/mo HOA · 17% of rent

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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 +20.5/30.0
• ARV discount +15.0/15.0
• 1% rule +8.4/10.0
• DSCR +6.5/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

In a complex of 5 condo's this is the most unique!Step down lr.&Dr.W/11 ft. Ceilings,many windows &private rear door w/brick patio & 2 adj.Park. Spaces.Fully equip.Eat in kit,2full baths.Well maintained.Shows well!

Key facts

• $350 HOA
• 2 parking spots
• Built 1875

Property features AI

Finance

• Other: Pets allowed with restrictions; Part of a 5-unit building
• HOA & community: Homeowners association with monthly fee; HOA fee $350 monthly; HOA covers grounds maintenance, snow removal, water and sewer

Exterior

• Parking: Off-street parking; 2 parking spaces
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Condominium (Condo/Co-Op For Sale)
• Construction: Frame construction
• Exterior features: Vinyl siding; Level lot

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heat (natural gas); Central air
• Interior features: Central air conditioning; Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 7.9% 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: 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 (+2.4%/yr); 37 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 34% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 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 $70k; list at $155k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 $155,000

Questions for the listing agent

1. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.34% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.67%
• DSCR: 1.25
• GRM: 6.2

CMA / ARV

• ARV (median comp): $237,467
• List price: $155,000
• Delta: -34.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.42% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.70×
• Total profit: $-13,006
• Equity at exit: $23,111

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,641
• Equity at exit: $13,402

Cash invested: $43,400 (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 06515

• Home prices YoY: -12.3%
• Rents YoY: 2.4%
• Active inventory: 37
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,079 high
• Mortgage (P&I): −$813
• Tax from tax record: −$210 /mo · $2,521/yr
• Insurance: −$65
• HOA: −$350
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $205

Break-even live

Break-even rent $1,820

Max offer price $155,000

Occupancy floor 85%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Springside Ave New Haven, CT	2.0–3.0	1.0	800	$1,595	$1.99	3d	3	0.13mi
25 Springside Ave Unit 35 Springside 1B New Haven, CT	3.0	1.0	900	$1,895	$2.11	23d	1	0.13mi
433 Blake St #433 New Haven, CT	2.0	2.5	1414	$2,700	$1.91	2d	1	0.15mi
400 Blake St New Haven, CT	1.0–2.0	1.0–2.0	965	$2,895	$3.00	2d	30	0.21mi
330 Blake St Unit C-2 New Haven, CT	3.0	2.0	1200	$1,995	$1.66	23d	1	0.24mi
841 Whalley Ave Unit B New Haven, CT	2.0	1.0	972	$2,200	$2.26	2d	1	0.35mi
1005 Whalley Ave Unit 2 New Haven, CT	2.0	1.0	1200	$1,700	$1.42	43d	1	0.36mi
115 Diamond St New Haven, CT	2.0	1.0	1067	$2,055	$1.93	14d	6	0.42mi
195 Valley St New Haven, CT	2.0	1.0	832	$1,700	$2.04	43d	1	0.42mi
326 W Rock Ave Unit 2 New Haven, CT	2.0	1.0	1500	$2,000	$1.33	43d	1	0.49mi
315 Alden Ave Unit 1 New Haven, CT	2.0	2.0	1212	$1,915	$1.58	43d	1	0.54mi
188 Fountain St Unit 3 New Haven, CT	2.0	1.0	926	$2,800	$3.02	43d	1	0.57mi
252 Goffe Ter Unit 2 New Haven, CT	3.0	1.0	1191	$2,000	$1.68	14d	1	0.64mi
252 Goffe Ter Unit 2 New Haven, CT	3.0	1.0	1191	$2,000	$1.68	3d	1	0.64mi
252 Goffe Ter Unit 3 New Haven, CT	3.0	1.0	1100	$1,995	$1.81	14d	1	0.64mi
1253 Forest Rd #2 New Haven, CT	2.0	1.0	1100	$2,250	$2.05	23d	1	0.67mi
209 Willard St Unit 3 New Haven, CT	1.0	1.0	957	$1,800	$1.88	43d	1	0.68mi
48 Pardee Pl New Haven, CT	2.0	1.0	1000	$1,800	$1.80	23d	1	0.69mi
37 Fairfield St Unit 2nd Floor New Haven, CT	2.0	1.0	1233	$1,850	$1.50	23d	1	0.69mi
218 W Rock Ave #3 New Haven, CT	2.0	1.0	924	$1,800	$1.95	3d	1	0.70mi
26 Whittlesey Ave Unit 2 New Haven, CT	3.0	1.0	1300	$1,900	$1.46	14d	1	0.70mi
26 Whittlesey Ave Unit 1 New Haven, CT	3.0	1.0	1300	$1,900	$1.46	43d	1	0.70mi
134 Hubinger St Unit 2 New Haven, CT	3.0	2.0	1358	$2,700	$1.99	43d	1	0.70mi
134 Hubinger St Unit 2 New Haven, CT	3.0	2.0	1358	$2,700	$1.99	23d	1	0.70mi
253 W Elm St Unit 2 New Haven, CT	3.0	1.0	1434	$2,650	$1.85	2d	1	0.72mi
207 Alden Ave Unit 3 New Haven, CT	1.0	1.0	900	$1,750	$1.94	19d	1	0.74mi
69 Fairfield St New Haven, CT	2.0	1.0	1280	$1,900	$1.48	23d	1	0.75mi
47 W Prospect St Unit 2 New Haven, CT	2.0	1.0	1298	$2,450	$1.89	3d	1	0.79mi
43 W Prospect St Unit 3 New Haven, CT	2.0	1.0	1250	$2,575	$2.06	2d	1	0.79mi
101 E Ramsdell St New Haven, CT	2.0	1.0	995	$1,555	$1.56	14d	4	0.81mi
55 Marvel Rd Unit B1 New Haven, CT	1.0	1.0	1200	$2,000	$1.67	14d	1	0.81mi
55 Marvel Rd Unit A3 New Haven, CT	3.0	1.0	1300	$2,750	$2.12	2d	1	0.81mi
126 Hobart St Unit 1 New Haven, CT	2.0	1.0	1212	$1,850	$1.53	23d	1	0.83mi
471 Whalley Ave Unit D New Haven, CT	2.0	2.0	1150	$2,200	$1.91	43d	1	0.84mi
52 Hilltop Rd Unit 52 New Haven, CT	2.0	1.0	1000	$1,800	$1.80	43d	1	0.84mi
306 Pine Rock Ave Unit D11 Hamden, CT	2.0	1.0	825	$1,600	$1.94	2d	1	0.86mi
111 Hobart St Apt 2 New Haven, CT	3.0	1.0	1220	$2,500	$2.05	43d	1	0.86mi
109 Hobart St Apt 1 New Haven, CT	3.0	1.0	1220	$2,500	$2.05	43d	1	0.87mi
954 Elm St Unit 3 New Haven, CT	2.0	1.0	866	$2,350	$2.71	23d	1	0.87mi
954 Elm St Unit 2 New Haven, CT	2.0	1.0	1154	$3,000	$2.60	43d	1	0.87mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-04
   status Under Contract 349-char remark
2. 2026-04-28
   listed $155,000 Active 349-char remark
3. 2008-09-08
   historical
4. 2008-03-07
   listed $149,900
5. 2000-10-26
   soldstatus $69,937
6. 2000-10-24
   soldstatus $67,900

   Show marketing remark (226 chars)

   In a complex of 5 condo's this is the most unique!Step down lr.&Dr.W/11 ft. Ceilings,many windows &private rear door w/brick patio & 2 adj.Park. Spaces.Fully equip.Eat in kit,2full baths.Well maintained.Shows well!

7. 2000-07-04
   listed $67,900

   Show marketing remark (226 chars)

   In a complex of 5 condo's this is the most unique!Step down lr.&Dr.W/11 ft. Ceilings,many windows &private rear door w/brick patio & 2 adj.Park. Spaces.Fully equip.Eat in kit,2full baths.Well maintained.Shows well!

ⓘ 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: $2,521 · $210/mo
• Projected year-2 tax: $2,919 · $243/mo
• Expected delta: +$398/yr (+$33/mo · 15.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% 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: $24,950
• − Mortgage interest: −$8,682
• − Property taxes: −$2,521
• − Insurance: −$775
• − Repairs & maintenance: −$1,996
• − Management: −$1,996
• − HOA: −$4,200
• − Depreciation: −$4,509
• Taxable income: $271
• Est. tax owed @ 24.0%: −$65
• After-tax cash flow: $2,396/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): 19,006
• Household income: $73,709
• Rent vs Own: 58.5% rent · 41.5% own
• Severe rent burden: 1156.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 38% Black 31% Hispanic / Latino 21% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 14%
• Common ancestry: Romanian 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 78% English-only · Spanish 15% Other Indo-European 2% Chinese 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: ▼ -44.45%
• Current HPI: 317.0482
• Rent YoY: ▲ 2.42%
• 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

+128.3% since first listed

7 events — show timeline

• 2026-05-04 Pending — Smart MLS
• 2026-04-28 Listed $155,000 Smart MLS
• 2008-09-08 Listing Removed — Smart MLS
• 2008-03-07 Listed $149,900 Smart MLS
• 2000-10-26 Sold (Public Records) $69,937 Public Records
• 2000-10-24 Sold (MLS) $67,900 Smart MLS
• 2000-07-04 Listed $67,900 Smart MLS

Property tax history

+0.1%/yr

Latest (2023): $2,521 · -6.4% YoY. Source: county tax records.