758 Legion Ave · New Haven, CT 06519

$550,000

5 bd · 3.0 ba · 3,116 sqft · MultiFamily public records · 44 Days on market

Built 1929 4,356 sqft lot $177/sqft · 23% above area Est $448k · 23% 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 +26.4/30.0
• Appreciation +9.9/10.0
• DSCR +9.0/10.0
• 1% rule +6.9/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

Turnkey three-family investment opportunity ideally positioned in close proximity to Yale University, major hospitals, and ongoing redevelopment throughout New Haven. 758 Legion Avenue offers a total of five bedrooms and three bathrooms across three units, providing strong income potential in one of Connecticut's most consistently active rental markets. The property benefits from its location near key employment hubs and continued city-wide investment, supporting long-term appreciation and stable tenant demand. With functional unit layouts and value-add potential, this asset is well-suited for both seasoned investors and those looking to enter the multifamily space. Whether utilized for imm

Key facts

• Value add potential
• 4,356 sq ft lot
• 3 parking spots

Tags

• NEAR KEY EMPLOYMENT HUBS
• VALUE ADD POTENTIAL
• STRONG INCOME POTENTIAL
• FUNCTIONAL UNIT LAYOUTS

Property features AI

Exterior

• Parking: Paved driveway and paved parking; Total of 3 parking spaces
• Utilities: Public water connected; Public sewer connected; Hot water: natural gas and oil (50-gallon tank)
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Red exterior siding
• Exterior features: Level lot; Paved driveway

Interior

• Bedrooms: Eight total bedrooms
• Bathrooms: Three full bathrooms
• Heating & cooling: Hot air heating; Heat sources: natural gas and oil; Fuel tank located in basement
• Interior features: Full unfinished basement with attic access via hatch; Total of 14 rooms; Three full bathrooms; Three total units (multi-family)
• Laundry & utility: Laundry in basement with basement hook-ups; 50-gallon hot water tank (natural gas and oil)

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $481/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $550k).
• Recommended offer: $534k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.9% 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.
• 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.
• Zoned schools: Edgewood School (math 20% / reading 30%, grade F, #421 of 553 statewide, top 76%, 401 students, 58% FRL); James Hillhouse High School (math 2% / reading 12%, grade F, #188 of 194 statewide, top 98%, 1,139 students, 79% FRL) — zoned schools at 69% FRL track the district average.
• Market conditions: Rents rising (+3.3%/yr); 45 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).

Forward outlook

• In year one you build about $58k of equity ($4k loan paydown + $54k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $154k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$93k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($534k) is reasonable based on typical stale-listing flexibility.
• 6 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 $335k; list at $550k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 58% 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 $533,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.19% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.25%
• DSCR: 1.50
• GRM: 7.0

CMA / ARV

• ARV (median comp): $447,874
• List price: $550,000
• Delta: 22.80%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Winthrop Ave	0.26mi	5/3.0	3,008 (-4%)	12mo	$330,000	$110	72
256 Davenport Ave	0.59mi	6/3.0 (+1)	3,105 (-0%)	7mo	$415,000	$134	61
21 Hinman St	0.42mi	6/4.0 (+1)	2,946 (-6%)	2mo	$580,000	$197	60
78 Judson Ave	0.17mi	6/2.0 (+1)	3,281 (+5%)	19mo	$360,000	$110	58
178 Sherman Ave	0.59mi	5/3.5	3,222 (+3%)	13mo	$555,000	$172	54
1537 Chapel St	0.52mi	4/2.0 (-1)	3,299 (+6%)	8mo	$450,000	$136	50
22 Bristol St	0.57mi	6/3.0 (+1)	2,730 (-12%)	4mo	$540,000	$198	44
36-38 Maple St	0.71mi	4/2.5 (-1)	3,050 (-2%)	21mo	$379,000	$124	39
336 Legion Ave	0.40mi	6/3.0 (+1)	2,685 (-14%)	22mo	$400,000	$149	35
843 Congress Ave	0.59mi	6/4.0 (+1)	2,688 (-14%)	18mo	$394,000	$147	26
69 Sylvan Ave	0.54mi	6/2.0 (+1)	2,682 (-14%)	21mo	$367,000	$137	25
65 Admiral St	0.64mi	4/2.0 (-1)	2,706 (-13%)	18mo	$375,000	$139	24

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: 32.3%
• Equity multiple: 3.51×
• Total profit: $386,393
• Equity at exit: $487,860

10-year hold

• IRR: 28.1%
• Equity multiple: 7.93×
• Total profit: $1,067,855
• Equity at exit: $1,044,079

Cash invested: $154,000 (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: 45
• Price-to-rent: 21.0×

Monthly cashflow live

• Estimated rent: $6,557 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$623 /mo · $7,471/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,377
• Net cashflow: $1,444

Break-even live

Break-even rent $4,729

Max offer price $550,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,755	-5% $1,600	+0% $1,444	+5% $1,288	+10% $1,133
Rent	-10% $926	-5% $1,185	+0% $1,444	+5% $1,703	+10% $1,962
Rate	-1.0pp $1,721	-0.5pp $1,584	base $1,444	+0.5pp $1,302	+1.0pp $1,157

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,558
Total (3 units)			$6,557

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3097	$6,250	$2.02	24d	1	0.81mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	15d	1	0.81mi
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	45d	1	0.90mi
319 Sherman Ave Unit 1ST New Haven, CT	4.0	1.0	3845	$2,495	$0.65	15d	1	0.94mi
319 Sherman Ave Unit 1st fl New Haven, CT	4.0	1.0	3845	$2,495	$0.65	45d	1	0.94mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	3d	1	0.95mi
347 Sherman Ave New Haven, CT	5.0	3.0	3153	$2,300	$0.73	45d	1	1.00mi
1519 Ella T Grasso Blvd Unit N/A New Haven, CT	5.0	2.0	2750	$4,450	$1.62	24d	1	1.02mi
355 Norton St Unit 1 New Haven, CT	5.0	2.5	2500	$3,300	$1.32	22d	1	1.09mi
432 Norton Pkwy New Haven, CT	5.0	3.0	2493	$4,195	$1.68	45d	1	1.25mi
50 Admiral St New Haven, CT	5.0	2.0	2157	$2,700	$1.25	20d	1	1.41mi
1768 Ella T Grasso Blvd New Haven, CT	4.0	2.0	2193	$3,950	$1.80	45d	1	1.48mi

Listing history 26 events

1. 2026-06-16
   statusdays on market $550,000 Under Contract 44 DOM
2. 2026-06-15
   days on market $550,000 Active 43 DOM
3. 2026-06-14
   days on market $550,000 Active 41 DOM
4. 2026-06-13
   days on market $550,000 Active 40 DOM
5. 2026-06-10
   days on market $550,000 Active 38 DOM
6. 2026-06-09
   days on market $550,000 Active 37 DOM
7. 2026-06-08
   days on market $550,000 Active 36 DOM
8. 2026-06-07
   days on market $550,000 Active 35 DOM
9. 2026-06-05
   days on market $550,000 Active 32 DOM
10. 2026-06-03
    days on market $550,000 Active 31 DOM
11. 2026-06-03
    days on market $550,000 Active 30 DOM
12. 2026-06-01
    days on market $550,000 Active 29 DOM
13. 2026-05-31
    days on market $550,000 Active 28 DOM
14. 2026-05-03
    listed $550,000 Active 851-char remark
15. 2021-06-22
    soldstatus $335,000
16. 2021-04-20
    historical
17. 2021-04-01
    listed $335,000 Active
18. 2021-03-31
    historical
19. 2021-03-12
    price $335,000
20. 2021-02-10
    listed $340,000 Active
21. 2011-08-19
    soldstatus $69,250
22. 2011-07-08
    listed $71,900
23. 2009-12-22
    historical
24. 2009-06-22
    listed $120,000
25. 2005-11-18
    soldstatus $200,000
26. 2005-08-29
    listed $229,900

ⓘ 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: $7,471 · $623/mo
• Projected year-2 tax: $9,620 · $802/mo
• Expected delta: +$2,150/yr (+$179/mo · 28.8%)

ⓘ 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 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $78,684
• − Mortgage interest: −$30,809
• − Property taxes: −$7,471
• − Insurance: −$2,750
• − Repairs & maintenance: −$6,295
• − Management: −$6,295
• − Depreciation: −$16,000
• Taxable income: $9,065
• Est. tax owed @ 24.0%: −$2,176
• After-tax cash flow: $15,153/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

+139.2% since first listed

14 events — show timeline

• 2026-06-16 Pending — Smart MLS
• 2026-05-03 Listed $550,000 Smart MLS
• 2021-06-22 Sold (Public Records) $335,000 Public Records
• 2021-04-20 Listing Removed — Smart MLS
• 2021-04-01 Listed $335,000 Smart MLS
• 2021-03-31 Listing Removed — Smart MLS
• 2021-03-12 Price Changed $335,000 Smart MLS
• 2021-02-10 Listed $340,000 Smart MLS
• 2011-08-19 Sold (MLS) $69,250 Smart MLS
• 2011-07-08 Listed $71,900 Smart MLS
• 2009-12-22 Listing Removed — Smart MLS
• 2009-06-22 Listed $120,000 Smart MLS
• 2005-11-18 Sold (MLS) $200,000 Smart MLS
• 2005-08-29 Listed $229,900 Smart MLS

Property tax history

+12.3%/yr

Latest (2023): $7,471 · -6.4% YoY. Source: county tax records.