13 Button St · New Haven, CT 06519

$460,000

6 bd · 4.0 ba · 2,596 sqft · MultiFamily public records · 3 Days on market

Built 2005 4,791 sqft lot Est $436k · 5% 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 +18.8/30.0
• Appreciation +9.9/10.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• ARV discount +5.0/15.0
• 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: 2 units. confirmed

Listing remarks MLS

Welcome to this rare gem! Built in 2005, this 2-family house offers two identical units, each featuring 3 bedrooms and 2 bathrooms. With both units already occupied by tenants on contracts, this is an excellent opportunity for passive income. Both units come equipped with gas furnaces, providing efficient and cost-effective heating throughout the winter months. Plus, with a fenced-in property, you can rest assured that your privacy and security are well-protected

Key facts

• 2 family house
• Fenced in property
• Gas furnaces

Tags

• 2 FAMILY HOUSE
• GAS FURNACES
• FENCED IN PROPERTY

Property features AI

Exterior

• Parking: Off-street parking; 2 parking spaces
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (2-family)
• Construction: Frame construction; Vinyl siding; Concrete foundation; Asphalt shingle roof; Tan exterior color; Built as multi-family (3 units total)
• Exterior features: Level lot; Beach rights

Interior

• Bedrooms: 7 bedrooms
• Bathrooms: 5 full bathrooms
• Heating & cooling: Hot air heating; Natural gas heat; Electric 30-gallon hot water tank
• Interior features: 17 total rooms; Full, partially finished basement; Has attic with access via hatch

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $460k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive. Per door: $202/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $460k).
• Cap rate 7.5% 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 (+3.3%/yr); 46 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 $4,607/mo this rent would consume 111% 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 $48k of equity ($3k loan paydown + $45k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $129k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$78k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 21y 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 $391k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 55% 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 $460,000

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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.00% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.28%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $436,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20-22 Hurlburt St	0.07mi	6/3.0	2,429 (-6%)	0mo	$362,500	$149	82
109 Hurlburt St	0.20mi	6/3.0	2,677 (+3%)	9mo	$290,000	$108	74
121 Plymouth St	0.17mi	5/2.0 (-1)	2,539 (-2%)	10mo	$355,000	$140	67
272 Greenwich Ave	0.38mi	6/3.0	2,684 (+3%)	13mo	$450,000	$168	61
11 White St	0.48mi	6/3.0	2,502 (-4%)	10mo	$445,000	$178	59
95 Frank St	0.36mi	6/3.0	2,243 (-14%)	2mo	$385,000	$172	55
173 Rosette St	0.13mi	5/2.0 (-1)	2,312 (-11%)	13mo	$212,625	$92	52
222 Howard Ave	0.38mi	5/3.0 (-1)	2,311 (-11%)	11mo	$470,000	$203	46
63 Sea St	0.68mi	5/3.0 (-1)	2,842 (+10%)	0mo	$675,000	$238	43
28 Frank St	0.39mi	7/2.0 (+1)	2,282 (-12%)	8mo	$330,000	$145	42
312 Davenport Ave	0.71mi	6/2.0	2,348 (-10%)	6mo	$312,000	$133	38
44 Lambert St	0.73mi	6/3.0	2,256 (-13%)	11mo	$460,000	$204	31

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: 26.7%
• Equity multiple: 3.11×
• Total profit: $271,756
• Equity at exit: $408,028

10-year hold

• IRR: 23.5%
• Equity multiple: 7.07×
• Total profit: $781,550
• Equity at exit: $873,230

Cash invested: $128,800 (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 06519

• Home prices YoY: 2.7%
• Rents YoY: 3.3%
• Active inventory: 46
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $4,607 high
• Mortgage (P&I): −$2,412
• Tax from tax record: −$576 /mo · $6,914/yr
• Insurance: −$192
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$967
• Net cashflow: $404

Break-even live

Break-even rent $4,096

Max offer price $460,000

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,608
Total (2 units)			$4,607

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34 Cassius St Unit 36 New Haven, CT	5.0	2.0	1872	$2,300	$1.23	43d	1	0.22mi
37 Center St Unit 2 West Haven, CT	5.0	2.0	2500	$3,300	$1.32	2d	1	1.02mi
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	43d	1	1.14mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3097	$6,250	$2.02	23d	1	1.19mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	14d	1	1.19mi
67 Edgewood Ave New Haven, CT	7.0	2.5	2000	$6,100	$3.05	43d	1	1.32mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	2d	1	1.36mi

Listing history 4 events

1. 2026-06-18
   days on market $460,000 Active 3 DOM
2. 2026-06-17
   days on market $460,000 Active 2 DOM
3. 2026-06-15
   remarks 536-char remark
4. 2026-06-15
   listed $460,000 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: $6,914 · $576/mo
• Projected year-2 tax: $8,379 · $698/mo
• Expected delta: +$1,465/yr (+$122/mo · 21.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 97% 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 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: $55,284
• − Mortgage interest: −$25,767
• − Property taxes: −$6,914
• − Insurance: −$2,966
• − Repairs & maintenance: −$4,423
• − Management: −$4,423
• − Depreciation: −$13,382
• Taxable loss: −$2,591
• Est. tax savings @ 24.0%: +$622
• After-tax cash flow: $5,468/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

+187.5% since first listed

11 events — show timeline

• 2026-06-15 Listed $460,000 Smart MLS
• 2023-05-10 Sold (Public Records) $391,000 Public Records
• 2023-05-09 Sold (MLS) $391,000 Smart MLS
• 2023-04-04 Pending — Smart MLS
• 2023-04-02 Listed $359,000 Smart MLS
• 2023-03-28 Coming Soon $359,000 Smart MLS
• 2016-04-13 Sold (MLS) $160,000 Smart MLS
• 2015-12-17 Listing Removed — Smart MLS
• 2015-11-12 Listed $153,000 Smart MLS
• 2006-06-13 Sold (MLS) $160,000 Smart MLS
• 2005-12-07 Listed $160,000 Smart MLS

Property tax history

+5.7%/yr

Latest (2023): $6,914 · -6.4% YoY. Source: county tax records.