31 Greenwood St · New Haven, CT 06519

$495,000

7 bd · 3.5 ba · 1,875 sqft · MultiFamily public records · 412 Days on market

Built 1900 3,484 sqft lot $264/sqft · 108% above area Est $476k · at est.

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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 +16.2/30.0
• Appreciation +9.9/10.0
• ARV discount +5.7/15.0
• DSCR +5.0/10.0
• 1% rule +4.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Second Floor NEWLY RENOVATED. NEW KITCHENS, BATHROOMS, FLOORING, PAINT, ETC. House has 7 bedrooms. First floor 3 bedroom, second 4 bedrooms. 2 full baths on second floor.. House is a cash cow for the number of bedrooms. Nice level yard in great location.

Key facts

• Ample natural light
• Local amenities
• 3,484 sq ft lot

Tags

• WELL-APPOINTED KITCHEN
• AMPLE NATURAL LIGHT
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 7-bed/3.5-bath multifamily listed at $495k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $448k (9.5% below list).
• Recommended offer: $436k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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: Betsy Ross Arts Magnet School (math 12% / reading 27%, grade F, #161 of 175 statewide, top 93%, 327 students, 70% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: Rents rising (+3.3%/yr); 45 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).

Forward outlook

• In year one you build about $52k of equity ($3k loan paydown + $49k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $139k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$84k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 412 days — a 12% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask has dropped $80k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $495k implies a 662% 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, 55% 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 $435,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 412 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.90% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.29%
• DSCR: 1.10
• GRM: 9.2

CMA / ARV

• ARV (median comp): $476,357
• List price: $495,000
• Delta: 3.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Stevens St	0.12mi	6/2.0 (-1)	2,046 (+9%)	14mo	$300,000	$147	57
26 Tyler St	0.29mi	6/2.0 (-1)	1,960 (+4%)	18mo	$320,000	$163	53
408 Legion Ave	0.07mi	6/2.0 (-1)	1,610 (-14%)	14mo	$340,000	$211	51
45 Kossuth St	0.33mi	6/3.0 (-1)	2,153 (+15%)	11mo	$425,000	$197	44
45 Frank St	0.64mi	6/3.0 (-1)	2,120 (+13%)	4mo	$430,000	$203	38

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: 25.6%
• Equity multiple: 3.03×
• Total profit: $281,327
• Equity at exit: $439,074

10-year hold

• IRR: 22.7%
• Equity multiple: 6.89×
• Total profit: $816,254
• Equity at exit: $939,671

Cash invested: $138,600 (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: 19.9×

Monthly cashflow live

• Estimated rent: $4,478 high
• Mortgage (P&I): −$2,596
• Tax from tax record: −$471 /mo · $5,651/yr
• Insurance: −$206
• HOA: −$0
• Vacancy / Maint / Mgmt: −$940
• Net cashflow: $265

Break-even live

Break-even rent $4,143

Max offer price $495,000

Occupancy floor 89%

Sensitivity live

Price	-10% $545	-5% $405	+0% $265	+5% $125	+10% $-16
Rent	-10% $-89	-5% $88	+0% $265	+5% $442	+10% $618
Rate	-1.0pp $514	-0.5pp $391	base $265	+0.5pp $136	+1.0pp $6

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$2,072
1× unit	4	1	$2,406
Total (2 units)			$4,478

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: $123,750
• Closing costs: $14,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
67 Edgewood Ave New Haven, CT	7.0	2.5	2000	$6,100	$3.05	45d	1	0.62mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	4d	1	0.65mi

Listing history 30 events

1. 2026-06-21
   days on market $495,000 Active 412 DOM
2. 2026-06-18
   days on market $495,000 Active 409 DOM
3. 2026-06-17
   days on market $495,000 Active 408 DOM
4. 2026-06-16
   days on market $495,000 Active 407 DOM
5. 2026-06-15
   days on market $495,000 Active 406 DOM
6. 2026-06-14
   days on market $495,000 Active 404 DOM
7. 2026-06-13
   days on market $495,000 Active 403 DOM
8. 2026-06-10
   days on market $495,000 Active 401 DOM
9. 2026-06-09
   days on market $495,000 Active 400 DOM
10. 2026-06-08
    days on market $495,000 Active 399 DOM
11. 2026-06-07
    days on market $495,000 Active 398 DOM
12. 2026-06-05
    days on market $495,000 Active 395 DOM
13. 2026-06-03
    days on market $495,000 Active 394 DOM
14. 2026-06-03
    days on market $495,000 Active 393 DOM
15. 2026-06-01
    days on market $495,000 Active 392 DOM
16. 2026-05-31
    days on market $495,000 Active 391 DOM
17. 2025-08-06
    price $495,000 254-char remark

    Show marketing remark (254 chars)

    Second Floor NEWLY RENOVATED. NEW KITCHENS, BATHROOMS, FLOORING, PAINT, ETC. House has 7 bedrooms. First floor 3 bedroom, second 4 bedrooms. 2 full baths on second floor.. House is a cash cow for the number of bedrooms. Nice level yard in great location.

18. 2025-08-01
    price $525,000 254-char remark

    Show marketing remark (254 chars)

    Second Floor NEWLY RENOVATED. NEW KITCHENS, BATHROOMS, FLOORING, PAINT, ETC. House has 7 bedrooms. First floor 3 bedroom, second 4 bedrooms. 2 full baths on second floor.. House is a cash cow for the number of bedrooms. Nice level yard in great location.

19. 2025-05-05
    listed $575,000 Active 254-char remark

    Show marketing remark (254 chars)

    Second Floor NEWLY RENOVATED. NEW KITCHENS, BATHROOMS, FLOORING, PAINT, ETC. House has 7 bedrooms. First floor 3 bedroom, second 4 bedrooms. 2 full baths on second floor.. House is a cash cow for the number of bedrooms. Nice level yard in great location.

20. 2011-02-23
    historical
21. 2010-08-26
    listed $139,900
22. 2009-09-16
    soldstatus $65,000
23. 2009-07-15
    listed $64,900
24. 2007-02-05
    soldstatus $207,000
25. 2007-02-02
    soldstatus $207,000
26. 2006-11-20
    listed $220,000
27. 2006-10-05
    historical
28. 2006-07-05
    listed $220,000
29. 2006-06-30
    historical
30. 2006-04-17
    listed $220,000

ⓘ 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: $5,651 · $471/mo
• Projected year-2 tax: $8,122 · $677/mo
• Expected delta: +$2,471/yr (+$206/mo · 43.7%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% 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: $53,736
• − Mortgage interest: −$27,728
• − Property taxes: −$5,651
• − Insurance: −$2,475
• − Repairs & maintenance: −$4,299
• − Management: −$4,299
• − Depreciation: −$14,400
• Taxable loss: −$5,115
• Est. tax savings @ 24.0%: +$1,228
• After-tax cash flow: $4,403/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

+125.0% since first listed

14 events — show timeline

• 2025-08-06 Price Changed $495,000 Smart MLS
• 2025-08-01 Price Changed $525,000 Smart MLS
• 2025-05-05 Listed $575,000 Smart MLS
• 2011-02-23 Listing Removed — Smart MLS
• 2010-08-26 Listed $139,900 Smart MLS
• 2009-09-16 Sold (MLS) $65,000 Smart MLS
• 2009-07-15 Listed $64,900 Smart MLS
• 2007-02-05 Sold (Public Records) $207,000 Public Records
• 2007-02-02 Sold (MLS) $207,000 Smart MLS
• 2006-11-20 Listed $220,000 Smart MLS
• 2006-10-05 Listing Removed — Smart MLS
• 2006-07-05 Listed $220,000 Smart MLS
• 2006-06-30 Listing Removed — Smart MLS
• 2006-04-17 Listed $220,000 Smart MLS

Property tax history

+7.0%/yr

Latest (2023): $5,651 · -6.4% YoY. Source: county tax records.