69 Bassett St · New Haven, CT 06511

$335,000

4 bd · 2.0 ba · 2,336 sqft · MultiFamily public records · 41 Days on market

Built 1900 6,969 sqft lot $143/sqft · 16% below area Est $397k · 16% under

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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 +26.5/30.0
• ARV discount +14.5/15.0
• DSCR +9.0/10.0
• 1% rule +7.4/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Discover an exceptional investment opportunity in the heart of Newhallville! This charming handyman-special multifamily property is an investor's dream, perfectly suited for contractors, seasoned renovators, and buyers seeking a rewarding rehab project. Each unit features a functional layout with two comfortable bedrooms, one full bathroom, a formal dining room, a cozy living room, and kitchen. In addition, the expansive attic presents exciting possibilities for future expansion-potentially adding extra bedrooms or flexible living space to further increase the property's value. Furnace and Hot water heaters were replaced approximately 8 years ago. Home is being sold AS-IS, Conveniently loca

Key facts

• 6,969 sq ft lot
• Built 1900
• Listed 41 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Natural gas hot water (40 gallon tank)
• Home design: Multi-family 2-family property
• Construction: Frame construction; Concrete foundation; Asphalt shingle gable roof; Vinyl siding; Built for two units
• Exterior features: Balcony; Covered deck; Front porch; Sidewalk; Gutters; Level lot

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heat; Natural gas heating
• Interior features: 10 total rooms; Full basement with interior access, concrete floor and full hatchway; Walk-up attic

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $335k.

Deal economics

• At list price, monthly cash flow is $886 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $335k).
• Recommended offer: $325k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 (+2.6%/yr); 137 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $4,166/mo this rent would consume 83% of the median local household income ($60k/yr) (locally 4999% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($325k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% 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 $324,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.24% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.33%
• DSCR: 1.50
• GRM: 6.7

CMA / ARV

• ARV (median comp): $397,026
• List price: $335,000
• Delta: -15.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26-28 Lander St	0.22mi	4/2.0	2,208 (-6%)	2mo	$390,000	$177	78
25 Lander St	0.25mi	4/2.0	2,365 (+1%)	21mo	$350,000	$148	69
123 Hazel St	0.22mi	5/2.0 (+1)	2,102 (-10%)	7mo	$335,000	$159	62
161 Starr St	0.25mi	5/2.0 (+1)	2,113 (-10%)	8mo	$290,000	$137	60
165 Starr St	0.25mi	4/2.0	2,099 (-10%)	16mo	$265,000	$126	58
125 Shelton Ave	0.44mi	4/2.0	2,184 (-6%)	15mo	$255,000	$117	56
242 W Ivy St	0.38mi	5/2.0 (+1)	2,608 (+12%)	14mo	$325,000	$125	46
323 W Division St	0.48mi	5/3.0 (+1)	2,268 (-3%)	23mo	$285,000	$126	44
54 Alstrum St	0.58mi	4/2.0	2,100 (-10%)	22mo	$400,000	$190	38

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 · 2.6% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $590
• Equity at exit: $49,950

10-year hold

• IRR: 9.4%
• Equity multiple: 1.71×
• Total profit: $66,854
• Equity at exit: $28,965

Cash invested: $93,800 (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 06511

• Home prices YoY: -20.8%
• Rents YoY: 2.6%
• Active inventory: 137
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $4,166 high
• Mortgage (P&I): −$1,757
• Tax from tax record: −$509 /mo · $6,106/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$875
• Net cashflow: $886

Break-even live

Break-even rent $3,045

Max offer price $335,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,076	-5% $981	+0% $886	+5% $791	+10% $696
Rent	-10% $557	-5% $721	+0% $886	+5% $1,051	+10% $1,215
Rate	-1.0pp $1,055	-0.5pp $971	base $886	+0.5pp $799	+1.0pp $711

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,166
Total (2 units)			$4,166

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 Lilac St New Haven, CT	4.0	1.5	1600	$2,650	$1.66	44d	1	0.11mi
106 Butler St New Haven, CT	4.0	2.0	3045	$2,600	$0.85	15d	1	0.14mi
327 Newhall St New Haven, CT	3.0	1.0	2742	$1,950	$0.71	44d	1	0.15mi
165 Starr St Unit 2nd Floor New Haven, CT	4.0	1.0	2099	$2,200	$1.05	19d	1	0.23mi
165 Starr St Unit 2nd Floor New Haven, CT	4.0	2.0	2099	$2,150	$1.02	15d	1	0.23mi
233 Highland St New Haven, CT	4.0	3.5	2200	$3,950	$1.80	44d	1	0.31mi
322 Bassett St Unit 2 New Haven, CT	3.0	1.0	2936	$1,900	$0.65	44d	1	0.51mi
32 Alstrum St #2 Hamden, CT	3.0	1.0	1656	$2,000	$1.21	3d	1	0.55mi
327 Augur St Unit 3 Hamden, CT	3.0	1.0	3036	$1,800	$0.59	3d	1	0.75mi
55 Admiral St Unit 2 New Haven, CT	5.0	3.0	2000	$3,295	$1.65	24d	1	0.76mi
50 Admiral St New Haven, CT	5.0	2.0	2157	$2,700	$1.25	19d	1	0.79mi
420 Whitney Ave New Haven, CT	3.0–4.0	2.0–3.0	1800	$4,700	$2.61	11d	2	0.82mi
420 Whitney Ave Unit 424-3B New Haven, CT	4.0	3.0	1800	$4,700	$2.61	3d	1	0.82mi
28 Townsend St New Haven, CT	4.0	2.5	1580	$3,400	$2.15	44d	1	0.84mi
134 Mansfield St New Haven, CT	5.0	2.0	1960	$5,500	$2.81	24d	1	0.85mi
339 Willow St Unit 1 New Haven, CT	4.0	2.0	2163	$4,050	$1.87	11d	1	0.88mi
1097 Dixwell Ave Hamden, CT	4.0	1.0	2005	$1,750	$0.87	11d	1	0.89mi
266 Everit St New Haven, CT	4.0	3.5	3259	$4,500	$1.38	44d	1	0.89mi
432 Norton Pkwy New Haven, CT	5.0	3.0	2493	$4,195	$1.68	44d	1	0.93mi
75 Stimson Rd New Haven, CT	4.0	1.0	1890	$3,500	$1.85	15d	1	0.96mi
1768 Ella T Grasso Blvd New Haven, CT	4.0	2.0	2193	$3,950	$1.80	44d	1	0.96mi
119 Carmel St Unit 3 New Haven, CT	3.0	1.0	3282	$1,900	$0.58	44d	1	0.98mi
56 Mansfield St Unit 1 New Haven, CT	3.0	1.0	2759	$2,800	$1.01	44d	1	1.00mi
355 Norton St Unit 1 New Haven, CT	5.0	2.5	2500	$3,300	$1.32	22d	1	1.06mi
591 Orchard St Unit 1 New Haven, CT	4.0	2.0	1696	$2,900	$1.71	3d	1	1.07mi
190 Pine Rock Ave Hamden, CT	1.0–4.0	1.0–3.0	1850	$3,895	$2.11	44d	1	1.08mi
156 Putnam Ave Hamden, CT	3.0	1.0	2304	$1,800	$0.78	3d	1	1.10mi
347 Sherman Ave New Haven, CT	5.0	3.0	3153	$2,300	$0.73	44d	1	1.10mi
1634 Ella T Grasso Blvd New Haven, CT	4.0	1.5	2018	$3,600	$1.78	44d	1	1.14mi
68 Anderson St Unit A New Haven, CT	3.0	2.5	1693	$4,500	$2.66	44d	1	1.16mi
52 Goffe St New Haven, CT	3.0	2.0	1935	$2,600	$1.34	24d	1	1.21mi
1565 Ella T Grasso Blvd Unit 1563 2 New Haven, CT	4.0	1.0	1638	$2,500	$1.53	44d	1	1.21mi
1563 Ella T Grasso Blvd Unit 2 New Haven, CT	4.0	1.0	1638	$2,500	$1.53	24d	1	1.22mi
1551 Ella T Grasso Blvd Unit 1 New Haven, CT	4.0	1.0	1700	$2,295	$1.35	15d	1	1.23mi
151 Fitch St #161 New Haven, CT	3.0	2.0	2200	$2,481	$1.13	44d	1	1.25mi
1519 Ella T Grasso Blvd Unit N/A New Haven, CT	5.0	2.0	2750	$4,450	$1.62	24d	1	1.26mi
239 Bradley St Unit 1 New Haven, CT	3.0	1.0	1982	$3,650	$1.84	44d	1	1.27mi
315 Humphrey St Unit A New Haven, CT	4.0	3.5	2465	$4,500	$1.83	3d	1	1.32mi
54 Trumbull St Unit 54-1 New Haven, CT	5.0	2.5	2250	$6,695	$2.98	15d	1	1.35mi
300 Humphrey St Unit 2 New Haven, CT	3.0	2.0	2868	$3,295	$1.15	44d	1	1.36mi

Listing history 12 events

1. 2026-06-13
   status $335,000 Under Contract 41 DOM
2. 2026-06-10
   days on market $335,000 Under Contract - Continue to Show 41 DOM
3. 2026-06-09
   days on market $335,000 Under Contract - Continue to Show 40 DOM
4. 2026-06-08
   days on market $335,000 Under Contract - Continue to Show 39 DOM
5. 2026-06-07
   days on market $335,000 Under Contract - Continue to Show 38 DOM
6. 2026-06-05
   days on market $335,000 Under Contract - Continue to Show 35 DOM
7. 2026-06-03
   days on market $335,000 Under Contract - Continue to Show 34 DOM
8. 2026-06-03
   days on market $335,000 Under Contract - Continue to Show 33 DOM
9. 2026-06-01
   days on market $335,000 Under Contract - Continue to Show 32 DOM
10. 2026-05-31
    days on market $335,000 Under Contract - Continue to Show 31 DOM
11. 2026-05-12
    historical Under Contract - Continue to Show 1079-char remark
12. 2026-04-30
    listed $335,000 Active 1079-char remark

ⓘ 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: $6,106 · $509/mo
• Projected year-2 tax: $6,638 · $553/mo
• Expected delta: +$532/yr (+$44/mo · 8.7%)

ⓘ 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 6/10 Major 7 d/yr ≥99°F today · 16 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: $49,992
• − Mortgage interest: −$18,765
• − Property taxes: −$6,106
• − Insurance: −$1,675
• − Repairs & maintenance: −$3,999
• − Management: −$3,999
• − Depreciation: −$9,745
• Taxable income: $5,702
• Est. tax owed @ 24.0%: −$1,368
• After-tax cash flow: $9,263/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): 54,730
• Household income: $59,969
• Rent vs Own: 80.3% rent · 19.7% own
• Severe rent burden: 4999.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Black 34% White 32% Hispanic / Latino 21% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 1% Russian 1%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 74% English-only · Spanish 15% Chinese 3% Other Indo-European 2%

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: ▼ -86.05%
• Current HPI: 328.1353
• Rent YoY: ▲ 2.60%
• 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

3 events — show timeline

• 2026-06-10 Pending — Smart MLS
• 2026-05-12 Contingent — Smart MLS
• 2026-04-30 Listed $335,000 Smart MLS

Property tax history

+6.5%/yr

Latest (2023): $6,106 · -6.4% YoY. Source: county tax records.