15 Truman St · New Haven, CT 06519

$525,000

9 bd · 3.0 ba · 3,630 sqft · MultiFamily public records · 5 Days on market

Built 1900 3,920 sqft lot Est $465k · 13% over

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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 +28.1/30.0
• DSCR +10.0/10.0
• Appreciation +9.9/10.0
• 1% rule +7.6/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• 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

Incredible opportunity for an owner-occupied buyer or Investor. This 3 unit asset is located in the historical Hill neighborhood of New Haven. All 3 units contain 3 bedrooms/1 bathroom and are 1,210 SF. Unit 1 rents for $1,180, Unit 2 rents for $1,095 and Unit 3 is ready for occupancy. Both units are Month to Month. Rents of similar units are upwards of $1450/month. The tenants pay utilities. This asset features newly installed windows, off street parking & a fenced in backyard. AGENTS PLEASE READ AGENT to AGENT REMARKS!

Key facts

• Easy access to i-95
• Easy access to i-91
• Private yard

Tags

• PRIVATE YARD
• EASY ACCESS TO I-95
• EASY ACCESS TO I-91
• EASY ACCESS TO ROUTE 34
• CLOSE TO SHOPPING
• CLOSE TO DINING

What this means for you Summary

Snapshot

• This is a 9-bed/3.0-bath multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $525k).
• Cap rate 10.1% 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 (+3.3%/yr); 46 active listings in the ZIP; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $6,638/mo this rent would consume 161% of the median local household income ($50k/yr) (locally 1321% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $55k of equity ($4k loan paydown + $52k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $147k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$89k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 18y 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 $390k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $525,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.49%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $464,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Truman St	0.00mi	9/3.0	3,630 (0%)	1mo	$500,000	$138	100
57 Stevens St	0.59mi	8/4.0 (-1)	3,652 (+1%)	7mo	$550,000	$151	57
8 Hurlburt St	0.31mi	9/3.0	3,314 (-9%)	18mo	$400,000	$121	56
124 Minor St	0.42mi	9/3.0	3,894 (+7%)	16mo	$400,000	$103	55
556 Howard Ave	0.28mi	9/3.0	3,276 (-10%)	19mo	$419,900	$128	55
51 Salem St	0.39mi	10/3.5 (+1)	3,940 (+8%)	8mo	$500,000	$127	54
56 Dewitt St	0.30mi	9/3.0	4,032 (+11%)	17mo	$475,000	$118	53
34 Cassius St	0.45mi	8/2.5 (-1)	3,744 (+3%)	17mo	$400,000	$107	53
37 Cassius St	0.43mi	8/3.0 (-1)	3,249 (-10%)	13mo	$420,000	$129	47
28 Cassius St	0.46mi	8/3.0 (-1)	3,292 (-9%)	16mo	$417,050	$127	45
55 Elliott St	0.60mi	8/3.0 (-1)	3,413 (-6%)	18mo	$475,000	$139	42
248 - 250 Howard Ave	0.65mi	10/5.0 (+1)	3,857 (+6%)	11mo	$565,000	$146	37

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: 34.0%
• Equity multiple: 3.63×
• Total profit: $386,416
• Equity at exit: $465,685

10-year hold

• IRR: 29.5%
• Equity multiple: 8.19×
• Total profit: $1,057,660
• Equity at exit: $996,621

Cash invested: $147,000 (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 06519

• Home prices YoY: 2.7%
• Rents YoY: 3.3%
• Active inventory: 46
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $6,638 high
• Mortgage (P&I): −$2,753
• Tax from tax record: −$620 /mo · $7,437/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,394
• Net cashflow: $1,652

Break-even live

Break-even rent $4,546

Max offer price $525,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,639
Total (3 units)			$6,638

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-04-21
   status Under Contract
2. 2026-04-15
   listed $525,000 Active
3. 2023-11-06
   soldstatus $390,000 Closed 530-char remark

   Show marketing remark (530 chars)

   Incredible opportunity for an owner-occupied buyer or Investor. This 3 unit asset is located in the historical Hill neighborhood of New Haven. All 3 units contain 3 bedrooms/1 bathroom and are 1,210 SF. Unit 1 rents for $1,180, Unit 2 rents for $1,095 and Unit 3 is ready for occupancy. Both units are Month to Month. Rents of similar units are upwards of $1450/month. The tenants pay utilities. This asset features newly installed windows, off street parking & a fenced in backyard. AGENTS PLEASE READ AGENT to AGENT REMARKS!

4. 2023-09-06
   status Under Contract 530-char remark

   Show marketing remark (530 chars)

   Incredible opportunity for an owner-occupied buyer or Investor. This 3 unit asset is located in the historical Hill neighborhood of New Haven. All 3 units contain 3 bedrooms/1 bathroom and are 1,210 SF. Unit 1 rents for $1,180, Unit 2 rents for $1,095 and Unit 3 is ready for occupancy. Both units are Month to Month. Rents of similar units are upwards of $1450/month. The tenants pay utilities. This asset features newly installed windows, off street parking & a fenced in backyard. AGENTS PLEASE READ AGENT to AGENT REMARKS!

5. 2023-08-28
   historical Under Contract - Continue to Show 530-char remark

   Show marketing remark (530 chars)

   Incredible opportunity for an owner-occupied buyer or Investor. This 3 unit asset is located in the historical Hill neighborhood of New Haven. All 3 units contain 3 bedrooms/1 bathroom and are 1,210 SF. Unit 1 rents for $1,180, Unit 2 rents for $1,095 and Unit 3 is ready for occupancy. Both units are Month to Month. Rents of similar units are upwards of $1450/month. The tenants pay utilities. This asset features newly installed windows, off street parking & a fenced in backyard. AGENTS PLEASE READ AGENT to AGENT REMARKS!

6. 2023-08-24
   status Active 530-char remark

   Show marketing remark (530 chars)

   Incredible opportunity for an owner-occupied buyer or Investor. This 3 unit asset is located in the historical Hill neighborhood of New Haven. All 3 units contain 3 bedrooms/1 bathroom and are 1,210 SF. Unit 1 rents for $1,180, Unit 2 rents for $1,095 and Unit 3 is ready for occupancy. Both units are Month to Month. Rents of similar units are upwards of $1450/month. The tenants pay utilities. This asset features newly installed windows, off street parking & a fenced in backyard. AGENTS PLEASE READ AGENT to AGENT REMARKS!

7. 2023-05-24
   status Under Contract 530-char remark

   Show marketing remark (530 chars)

   Incredible opportunity for an owner-occupied buyer or Investor. This 3 unit asset is located in the historical Hill neighborhood of New Haven. All 3 units contain 3 bedrooms/1 bathroom and are 1,210 SF. Unit 1 rents for $1,180, Unit 2 rents for $1,095 and Unit 3 is ready for occupancy. Both units are Month to Month. Rents of similar units are upwards of $1450/month. The tenants pay utilities. This asset features newly installed windows, off street parking & a fenced in backyard. AGENTS PLEASE READ AGENT to AGENT REMARKS!

8. 2023-05-22
   historical Under Contract - Continue to Show 530-char remark

   Show marketing remark (530 chars)

   Incredible opportunity for an owner-occupied buyer or Investor. This 3 unit asset is located in the historical Hill neighborhood of New Haven. All 3 units contain 3 bedrooms/1 bathroom and are 1,210 SF. Unit 1 rents for $1,180, Unit 2 rents for $1,095 and Unit 3 is ready for occupancy. Both units are Month to Month. Rents of similar units are upwards of $1450/month. The tenants pay utilities. This asset features newly installed windows, off street parking & a fenced in backyard. AGENTS PLEASE READ AGENT to AGENT REMARKS!

9. 2023-05-16
   listed $390,000 Active 530-char remark

   Show marketing remark (530 chars)

   Incredible opportunity for an owner-occupied buyer or Investor. This 3 unit asset is located in the historical Hill neighborhood of New Haven. All 3 units contain 3 bedrooms/1 bathroom and are 1,210 SF. Unit 1 rents for $1,180, Unit 2 rents for $1,095 and Unit 3 is ready for occupancy. Both units are Month to Month. Rents of similar units are upwards of $1450/month. The tenants pay utilities. This asset features newly installed windows, off street parking & a fenced in backyard. AGENTS PLEASE READ AGENT to AGENT REMARKS!

10. 2012-05-31
    soldstatus $82,000
11. 2012-05-24
    soldstatus $82,000 123-char remark

    Show marketing remark (123 chars)

    Three family featuring all 3br units. Motivated seller wants offers! Can also be purchased as a pkg with 11 & 45 truman

12. 2011-10-13
    listed $134,900 123-char remark

    Show marketing remark (123 chars)

    Three family featuring all 3br units. Motivated seller wants offers! Can also be purchased as a pkg with 11 & 45 truman

13. 2008-11-20
    soldstatus $80,000
14. 2008-09-15
    listed $84,900
15. 2005-02-10
    soldstatus $85,000
16. 2004-12-23
    soldstatus $39,900
17. 1999-09-21
    soldstatus $132,000

ⓘ 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: $7,437 · $620/mo
• Projected year-2 tax: $9,336 · $778/mo
• Expected delta: +$1,899/yr (+$158/mo · 25.5%)

ⓘ 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: $79,656
• − Mortgage interest: −$29,408
• − Property taxes: −$7,437
• − Insurance: −$2,625
• − Repairs & maintenance: −$6,372
• − Management: −$6,372
• − Depreciation: −$15,273
• Taxable income: $12,168
• Est. tax owed @ 24.0%: −$2,920
• After-tax cash flow: $16,908/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

+297.7% since first listed

17 events — show timeline

• 2026-04-21 Pending — Smart MLS
• 2026-04-15 Listed $525,000 Smart MLS
• 2023-11-06 Sold (MLS) $390,000 Smart MLS
• 2023-09-06 Pending — Smart MLS
• 2023-08-28 Contingent — Smart MLS
• 2023-08-24 Relisted — Smart MLS
• 2023-05-24 Pending — Smart MLS
• 2023-05-22 Contingent — Smart MLS
• 2023-05-16 Listed $390,000 Smart MLS
• 2012-05-31 Sold (Public Records) $82,000 Public Records
• 2012-05-24 Sold (MLS) $82,000 Smart MLS
• 2011-10-13 Listed $134,900 Smart MLS
• 2008-11-20 Sold (MLS) $80,000 Smart MLS
• 2008-09-15 Listed $84,900 Smart MLS
• 2005-02-10 Sold (Public Records) $85,000 Public Records
• 2004-12-23 Sold (Public Records) $39,900 Public Records
• 1999-09-21 Sold (Public Records) $132,000 Public Records

Property tax history

+6.2%/yr

Latest (2023): $7,437 · -6.4% YoY. Source: county tax records.