162 Helen St · New Haven, CT 06514

$549,900

5 bd · 3.0 ba · 3,110 sqft · MultiFamily public records · 10 Days on market

Built 1920 7,405 sqft lot Est $473k · 16% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• ARV discount +0.2/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Covering All the Bases! This move in condition super spacious 3 unit multi family sits pretty on a corner lot. Classic solid features & modern amenities. Convenient location to shopping, business district, bus line, Southern CT State University & Eli Whitney Tech. All separate utilities (gas & electric) plus 3 laundry hook ups in basement. Unit #1 living room, dining room, 2 bedrooms, bath & kitchen and pantry. Unit #2 Living, dining, 2 bedrooms, bath, kitchen & pantry plus enclosed front porch and rear open balcony deck. #3- Living room, 1 bedroom, full bath, kitchen & pantry closet. Rear balcony deck. Plenty of off street parking.

Key facts

• Separate utilities
• Off street parking
• Laundry hook ups

Tags

• CORNER LOT
• SEPARATE UTILITIES
• LAUNDRY HOOK UPS
• ENCLOSED FRONT PORCH
• REAR OPEN BALCONY DECK
• OFF STREET PARKING

Property features AI

Exterior

• Parking: Off-street parking and driveway; Total of 4 parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas service; Electric hot water option
• Home design: Multi-family 3-family property; Located on a corner, level lot; Vinyl siding; Mist exterior color
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Built as a multi-family residence
• Exterior features: Enclosed porch and open porch; Sidewalk; Gutters; Garden area; Paved driveway; Off-street parking

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air and hot water heating; Natural gas hot water; Thermopane windows
• Interior features: 14 total rooms; Full unfinished basement
• Laundry & utility: Basement laundry hookups

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive. Per door: $986/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $550k).
• Cap rate 12.7% 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.
• Hamden School District (suburban): math 30% / reading 43% proficiency, ranked #106 of 153 in CT (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Helen Street School (math 12% / reading 22%, grade F, #459 of 553 statewide, top 84%, 325 students, 62% FRL); Hamden High School (math 21% / reading 44%, grade F, #125 of 194 statewide, top 66%, 1,672 students, 39% FRL) — zoned schools average 50% FRL vs 34% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.6%/yr); 107 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $8,848/mo this rent would consume 119% of the median local household income ($89k/yr) (locally 1228% 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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $154k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $110k; list at $550k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $549,900

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 1920 — 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. 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: 1.61% ✓
• Cap rate: 12.75%
• Cash-on-cash: 23.04%
• DSCR: 2.03
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $472,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Helen St	0.09mi	6/3.0 (+1)	3,038 (-2%)	11mo	$550,000	$181	78
42 Collins St	0.34mi	5/3.0	3,035 (-2%)	12mo	$460,000	$152	70
106 Helen St	0.10mi	6/2.0 (+1)	3,103 (-0%)	19mo	$420,000	$135	70
34 Bradley Ave	0.20mi	5/3.0	3,283 (+6%)	15mo	$475,000	$145	69
75 Concord St	0.47mi	6/3.0 (+1)	3,016 (-3%)	1mo	$549,000	$182	67
116 Helen St	0.08mi	6/3.0 (+1)	3,426 (+10%)	9mo	$457,000	$133	66
16-18 3rd St	0.38mi	5/3.0	3,116 (+0%)	20mo	$450,000	$144	65
19 Collins St	0.39mi	6/3.0 (+1)	3,143 (+1%)	20mo	$540,000	$172	58
57 North St	0.43mi	6/2.0 (+1)	2,931 (-6%)	12mo	$412,000	$141	52
78 Church St	0.50mi	6/3.0 (+1)	2,853 (-8%)	10mo	$440,000	$154	49
43 Gorham Ave	0.19mi	4/2.0 (-1)	2,680 (-14%)	14mo	$390,000	$146	48
1492 Dixwell Ave	0.62mi	6/4.0 (+1)	2,960 (-5%)	8mo	$580,000	$196	47

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 · 4.61% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 1.74×
• Total profit: $114,052
• Equity at exit: $81,992

10-year hold

• IRR: 27.5%
• Equity multiple: 3.63×
• Total profit: $404,686
• Equity at exit: $47,545

Cash invested: $153,972 (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 06514

• Rents YoY: 4.6%
• Active inventory: 107
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $8,848 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$920 /mo · $11,043/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,858
• Net cashflow: $2,957

Break-even live

Break-even rent $5,105

Max offer price $549,900

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$8,847
Total (3 units)			$8,848

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: $137,475
• Closing costs: $16,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Butler St New Haven, CT	4.0	2.0	3045	$2,600	$0.85	14d	1	1.17mi
1768 Ella T Grasso Blvd New Haven, CT	4.0	2.0	2193	$3,950	$1.80	44d	1	1.48mi

Listing history 8 events

1. 2026-06-13
   statusdays on market $549,900 Under Contract 10 DOM
2. 2026-06-10
   days on market $549,900 Active 8 DOM
3. 2026-06-09
   days on market $549,900 Active 7 DOM
4. 2026-06-08
   days on market $549,900 Active 6 DOM
5. 2026-06-07
   days on market $549,900 Active 5 DOM
6. 2026-06-05
   days on market $549,900 Active 2 DOM
7. 2026-06-03
   remarks 652-char remark
8. 2026-06-03
   listed $549,900 Active 1 DOM

ⓘ 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: $11,043 · $920/mo
• Projected year-2 tax: $11,405 · $950/mo
• Expected delta: +$362/yr (+$30/mo · 3.3%)

ⓘ 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 ≥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 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $106,176
• − Mortgage interest: −$30,803
• − Property taxes: −$11,043
• − Insurance: −$2,750
• − Repairs & maintenance: −$8,494
• − Management: −$8,494
• − Depreciation: −$15,997
• Taxable income: $28,595
• Est. tax owed @ 24.0%: −$6,863
• After-tax cash flow: $28,619/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: Hamden School District
• NCES district ID: 0901860
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $68,821
• Composite: 33.34/100
• National rank: #5490
• State rank: #106 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

• County: New Haven County · 688,236 people
• City population: 132,813
• Metro: New Haven-Milford, CT
• Population (ZIP): 26,803
• Household income: $88,900
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1228.0

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 43% Black 33% Hispanic / Latino 16% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Dominican 2%
• Common ancestry: Romanian 5% German 2% Lithuanian 2%
• Foreign-born: 15% · Canada, Jamaica, China
• Languages at home: 80% English-only · Spanish 10% Arabic 2% Other Indo-European 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: ▼ -222.59%
• Current HPI: 251.556
• Rent YoY: ▲ 4.61%
• 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

+399.9% since first listed

2 events — show timeline

• 2026-06-02 Listed $549,900 Smart MLS
• 2001-07-20 Sold (Public Records) $110,000 Public Records

Property tax history

+5.1%/yr

Latest (2023): $11,043 · +1.6% YoY. Source: county tax records.