127 James St · New Haven, CT 06513

$925,000

66 bd · 36.0 ba · 4,698 sqft · MultiFamily public records · 106 Days on market

Built 1875 4,356 sqft lot $197/sqft · 94% above area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Great opportunity to own a 6-unit multifamily property in New Haven's Fair Haven neighborhood. This income-producing building features six residential units with practical layouts and strong rental demand. The property includes separate utilities and off-street parking, providing convenience for both tenants and management. Located near schools, parks, shopping, public transportation, and just minutes from downtown New Haven and major highways. A solid addition to any investment portfolio. Schedule your private showing today!

Key facts

• Near schools
• Separate utilities
• Multifamily property

Tags

• MULTIFAMILY PROPERTY
• INCOME-PRODUCING BUILDING
• SEPARATE UTILITIES
• OFF-STREET PARKING
• NEAR SCHOOLS
• NEAR PARKS

What this means for you Summary

Snapshot

• This is a 6 × 11-bed/6.0-bath units multifamily listed at $925k.

Deal economics

• At list price, monthly cash flow is $5k ($66k/yr) — positive. Per door: $916/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $925k).
• Recommended offer: $842k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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 fast (+4.1%/yr); 101 active listings in the ZIP; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $14,816/mo this rent would consume 367% of the median local household income ($48k/yr) (locally 2664% 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 $6k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $259k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($842k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $167k; list at $925k implies a 454% 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, 56% 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 $841,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.60% ✓
• Cap rate: 13.43%
• Cash-on-cash: 25.47%
• DSCR: 2.13
• GRM: 5.2

CMA / ARV

• ARV (median comp): $476,616
• List price: $925,000
• Delta: 94.08%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.12% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 1.84×
• Total profit: $217,288
• Equity at exit: $137,921

10-year hold

• IRR: 29.3%
• Equity multiple: 3.75×
• Total profit: $711,448
• Equity at exit: $79,977

Cash invested: $259,000 (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 06513

• Home prices YoY: -7.8%
• Rents YoY: 4.1%
• Active inventory: 101
• Price-to-rent: 31.2×

Monthly cashflow live

• Estimated rent: $14,816 medium
• Mortgage (P&I): −$4,851
• Tax from tax record: −$970 /mo · $11,642/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,111
• Net cashflow: $5,498

Break-even live

Break-even rent $7,856

Max offer price $925,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 6× units	11	6	$14,814
Total (6 units)			$14,816

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: $231,250
• Closing costs: $27,750
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $925,000 Active 106 DOM
2. 2026-06-17
   days on market $925,000 Active 105 DOM
3. 2026-06-16
   days on market $925,000 Active 104 DOM
4. 2026-06-15
   days on market $925,000 Active 103 DOM
5. 2026-06-14
   days on market $925,000 Active 101 DOM
6. 2026-06-13
   days on market $925,000 Active 100 DOM
7. 2026-06-10
   days on market $925,000 Active 98 DOM
8. 2026-06-09
   days on market $925,000 Active 97 DOM
9. 2026-06-08
   days on market $925,000 Active 96 DOM
10. 2026-06-07
    days on market $925,000 Active 95 DOM
11. 2026-06-05
    days on market $925,000 Active 92 DOM
12. 2026-06-03
    days on market $925,000 Active 91 DOM
13. 2026-06-03
    days on market $925,000 Active 90 DOM
14. 2026-06-01
    days on market $925,000 Active 89 DOM
15. 2026-05-31
    days on market $925,000 Active 88 DOM
16. 2026-02-20
    listed $925,000 Active 531-char remark

    Show marketing remark (531 chars)

    Great opportunity to own a 6-unit multifamily property in New Haven's Fair Haven neighborhood. This income-producing building features six residential units with practical layouts and strong rental demand. The property includes separate utilities and off-street parking, providing convenience for both tenants and management. Located near schools, parks, shopping, public transportation, and just minutes from downtown New Haven and major highways. A solid addition to any investment portfolio. Schedule your private showing today!

17. 2015-05-28
    soldstatus $167,000 415-char remark

    Show marketing remark (415 chars)

    Commercial 6-unit apartment building in the Fair Haven neighborhood of New Haven, CT. Located across from John S Martinez School provides a pleasant view of the modern building. Good sized 1400sqft off-street parking lot. Four 1-bedroom units (1 occupied) and two 2-bedroom units. All separate utilities including 6 gas boilers and 7 electric meters. Six storage cages in basement. 1st floor plumbing stolen. As Is.

18. 2015-01-27
    historical 415-char remark

    Show marketing remark (415 chars)

    Commercial 6-unit apartment building in the Fair Haven neighborhood of New Haven, CT. Located across from John S Martinez School provides a pleasant view of the modern building. Good sized 1400sqft off-street parking lot. Four 1-bedroom units (1 occupied) and two 2-bedroom units. All separate utilities including 6 gas boilers and 7 electric meters. Six storage cages in basement. 1st floor plumbing stolen. As Is.

19. 2015-01-14
    listed $139,000 415-char remark

    Show marketing remark (415 chars)

    Commercial 6-unit apartment building in the Fair Haven neighborhood of New Haven, CT. Located across from John S Martinez School provides a pleasant view of the modern building. Good sized 1400sqft off-street parking lot. Four 1-bedroom units (1 occupied) and two 2-bedroom units. All separate utilities including 6 gas boilers and 7 electric meters. Six storage cages in basement. 1st floor plumbing stolen. As Is.

20. 2002-11-08
    soldstatus $146,125
21. 2002-11-08
    soldstatus $146,125

ⓘ 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: $11,642 · $970/mo
• Projected year-2 tax: $15,718 · $1,310/mo
• Expected delta: +$4,076/yr (+$340/mo · 35.0%)

ⓘ 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 56% 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: $177,792
• − Mortgage interest: −$51,814
• − Property taxes: −$11,642
• − Insurance: −$4,625
• − Repairs & maintenance: −$14,223
• − Management: −$14,223
• − Depreciation: −$26,909
• Taxable income: $54,355
• Est. tax owed @ 24.0%: −$13,045
• After-tax cash flow: $52,934/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): 38,888
• Household income: $48,500
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2664.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 47% White 26% Black 22% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 25% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 17% · Canada, Jamaica, South Korea
• Languages at home: 56% English-only · Spanish 39% Other Indo-European 1% 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: ▼ -30.87%
• Current HPI: 364.006
• Rent YoY: ▲ 4.12%
• 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

+533.0% since first listed

6 events — show timeline

• 2026-02-20 Listed $925,000 Smart MLS
• 2015-05-28 Sold (MLS) $167,000 Smart MLS
• 2015-01-27 Listing Removed — Smart MLS
• 2015-01-14 Listed $139,000 Smart MLS
• 2002-11-08 Sold (Public Records) $146,125 Public Records
• 2002-11-08 Sold (Public Records) $146,125 Public Records

Property tax history

+3.2%/yr

Latest (2023): $11,642 · -6.4% YoY. Source: county tax records.