145 Prince St · Wallingford, CT 06492

$729,900

4 bd · 2.5 ba · 4,032 sqft · MultiFamily public records · 13 Days on market

Built 1910 4,791 sqft lot

---

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 +24.8/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 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 MLS

Great deal on legal 3 family property across from town hall, amazing location. Property has recently be rezoned as 3 residential units, 3rd floor unit is currently framing and rough electrical, HVAC, and plumbing.

Key facts

• 4,791 sq ft lot
• Built 1910
• Listed 13 days

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas domestic hot water
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Built as a multi-family building
• Exterior features: City views; Level lot; Vinyl siding; Dark grey exterior

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air heating; Natural gas heating; Central air conditioning
• Interior features: 12 total rooms; Full, unfinished basement; Attic with pull-down stairs; Central air

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $730k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $518/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $730k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Wallingford School District (suburban): math 34% / reading 49% proficiency, ranked #94 of 153 in CT (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Moses Y. Beach School (332 students, 30% FRL); Lyman Hall High School (math 26% / reading 61%, grade F, #98 of 194 statewide, top 51%, 930 students, 32% FRL) — zoned schools average 31% FRL vs 16% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 111 active listings in the ZIP; solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $7,902/mo this rent would consume 90% of the median local household income ($105k/yr) (locally 959% 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 $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 22y ago; this cycle's ask is 62% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $225k; list at $730k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $729,900

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 1910 — 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. 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: 1.08% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.13%
• DSCR: 1.41
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.5%
• Equity multiple: 0.91×
• Total profit: $-19,350
• Equity at exit: $108,830

10-year hold

• IRR: 7.2%
• Equity multiple: 1.54×
• Total profit: $110,255
• Equity at exit: $63,108

Cash invested: $204,372 (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 06492

• Active inventory: 111
• Price-to-rent: 23.1×

Monthly cashflow live

• Estimated rent: $7,902 medium
• Mortgage (P&I): −$3,828
• Tax from tax record: −$556 /mo · $6,672/yr
• Insurance: −$304
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,659
• Net cashflow: $1,555

Break-even live

Break-even rent $5,934

Max offer price $729,900

Occupancy floor 75%

Sensitivity live

Price	-10% $1,968	-5% $1,761	+0% $1,555	+5% $1,348	+10% $1,142
Rent	-10% $931	-5% $1,243	+0% $1,555	+5% $1,867	+10% $2,179
Rate	-1.0pp $1,922	-0.5pp $1,740	base $1,555	+0.5pp $1,366	+1.0pp $1,173

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$7,902
Total (3 units)			$7,902

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: $182,475
• Closing costs: $21,897
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $729,900 Active 13 DOM
2. 2026-06-17
   days on market $729,900 Active 12 DOM
3. 2026-06-16
   days on market $729,900 Active 11 DOM
4. 2026-06-15
   days on market $729,900 Active 10 DOM
5. 2026-06-14
   days on market $729,900 Active 8 DOM
6. 2026-06-10
   days on market $729,900 Active 5 DOM
7. 2026-06-09
   days on market $729,900 Active 4 DOM
8. 2026-06-08
   days on market $729,900 Active 3 DOM
9. 2026-06-07
   statusdays on market $729,900 Active 2 DOM
10. 2026-06-05
    remarks 699-char remark
11. 2026-06-05
    listed $729,900 Coming Soon 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: $6,672 · $556/mo
• Projected year-2 tax: $11,146 · $929/mo
• Expected delta: +$4,474/yr (+$373/mo · 67.1%)

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

Taxation est. · year 1

• Rental income: $94,824
• − Mortgage interest: −$40,886
• − Property taxes: −$6,672
• − Insurance: −$3,650
• − Repairs & maintenance: −$7,586
• − Management: −$7,586
• − Depreciation: −$21,233
• Taxable income: $7,211
• Est. tax owed @ 24.0%: −$1,731
• After-tax cash flow: $16,927/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: Wallingford School District
• NCES district ID: 0904740
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $73,423
• Composite: 37.92/100
• National rank: #4310
• State rank: #94 of 153 in CT

Livability — Wallingford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Wallingford Center, CT
• County: New Haven County · 688,236 people
• City population: 44,498
• Metro: New Haven-Milford, CT
• Population (ZIP): 44,498
• Household income: $105,061
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 959.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 11% Two or more races 6% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3%
• Common ancestry: Romanian 11% Lithuanian 5% Russian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 8% Other Indo-European 4% 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: ▼ -259.08%
• Current HPI: 248.4652
• Rent YoY: —
• 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

+278.4% since first listed

15 events — show timeline

• 2026-06-03 Coming Soon $729,900 Smart MLS
• 2023-11-19 Listing Removed — Smart MLS
• 2023-11-03 Listed $450,000 Smart MLS
• 2023-10-29 Coming Soon — Smart MLS
• 2021-04-02 Sold (MLS) $225,000 Smart MLS
• 2021-03-01 Relisted — Smart MLS
• 2021-01-11 Listed $249,999 Smart MLS
• 2019-10-16 Listing Removed — Smart MLS
• 2019-07-23 Listed $249,900 Smart MLS
• 2019-06-01 Listing Removed — Smart MLS
• 2019-02-26 Listed $289,000 Smart MLS
• 2019-02-19 Listing Removed — Smart MLS
• 2018-12-19 Listed $299,900 Smart MLS
• 2004-08-27 Sold (MLS) $190,000 Smart MLS
• 2004-08-02 Listed $192,900 Smart MLS

Property tax history

+6.4%/yr

Latest (2023): $6,672 · +6.4% YoY. Source: county tax records.