None · New Haven, CT 06519

$550,000

8 bd · 2.0 ba · 3,744 sqft · MultiFamily public records · 33 Days on market

Built 1900 5,227 sqft lot Est $475k · 16% over

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Why this score? — see what drove the D+ 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 +17.8/30.0
• Appreciation +9.9/10.0
• DSCR +5.6/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.4/15.0

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

Welcome to 34 Cassius St, New Haven, CT - a generous two-unit property with fantastic value-add potential. Featuring 8 bedrooms and 2.5 bathrooms, this home is perfect for investors seeking substantial rental income or owner-occupants in need of extra space. Each unit offers spacious, bright living areas and plenty of room for updates and customization. The property also includes a large backyard, ideal for outdoor activities, gardening, or simply relaxing. Conveniently located near schools, parks, shopping, and dining, 34 Cassius St provides easy access to all that New Haven has to provide, making it an outstanding investment or the perfect canvas for your ideal home.

Key facts

• Two-unit property
• Value-add potential
• Large backyard

Tags

• TWO-UNIT PROPERTY
• VALUE-ADD POTENTIAL
• LARGE BACKYARD
• SPACIOUS LIVING AREAS
• EASY ACCESS TO SCHOOLS
• EASY ACCESS TO PARKS

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas hot water with 40-gallon tank
• Home design: Multi-family 2-family property
• Construction: Frame construction; Masonry foundation; Asphalt shingle roof
• Exterior features: Level lot; Vinyl siding; Light blue exterior color

Interior

• Bedrooms: 8 bedrooms (total)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Hot air heating; Natural gas heating
• Interior features: 16 total rooms; Full basement; Walk-up attic

What this means for you Summary

Snapshot

• This is a 8-bed/2.0-bath multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $525k (4.5% below list).
• Recommended offer: $525k (4.5% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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 $5,252/mo this rent would consume 127% 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 $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 ~3 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 33 days — a 3% lower offer ($534k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $400k; 38% 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, 58% 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 $525,200 (4.5% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 5% 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.95% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.53%
• DSCR: 1.16
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $475,488
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34 Cassius St	0.00mi	8/2.5	3,744 (0%)	17mo	$400,000	$107	84
15 Truman St	0.45mi	9/3.0 (+1)	3,630 (-3%)	1mo	$500,000	$138	64
37 Cassius St	0.02mi	8/3.0	3,249 (-13%)	13mo	$420,000	$129	62
28 Cassius St	0.01mi	8/3.0	3,292 (-12%)	16mo	$417,050	$127	62
284 Hallock Ave	0.11mi	8/4.0	3,520 (-6%)	24mo	$550,000	$156	57
29 White St	0.59mi	7/3.0 (-1)	3,720 (-1%)	6mo	$425,000	$114	57
56 Dewitt St	0.16mi	9/3.0 (+1)	4,032 (+8%)	17mo	$475,000	$118	57
322 Howard Ave	0.15mi	9/3.0 (+1)	4,237 (+13%)	10mo	$655,000	$155	54
124 Minor St	0.46mi	9/3.0 (+1)	3,894 (+4%)	16mo	$400,000	$103	50
8 Hurlburt St	0.29mi	9/3.0 (+1)	3,314 (-12%)	18mo	$400,000	$121	44
556 Howard Ave	0.31mi	9/3.0 (+1)	3,276 (-12%)	19mo	$419,900	$128	40

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: 26.6%
• Equity multiple: 3.10×
• Total profit: $322,824
• Equity at exit: $487,860

10-year hold

• IRR: 23.4%
• Equity multiple: 7.04×
• Total profit: $929,399
• 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: 46
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $5,252 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$583 /mo · $6,994/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,103
• Net cashflow: $453

Break-even live

Break-even rent $4,679

Max offer price $550,000

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.25	$5,252
Total (2 units)			$5,252

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: —

Listing history 22 events

1. 2026-06-18
   days on market $550,000 Active 33 DOM
2. 2026-06-17
   days on market $550,000 Active 32 DOM
3. 2026-06-16
   days on market $550,000 Active 31 DOM
4. 2026-06-15
   days on market $550,000 Active 30 DOM
5. 2026-06-14
   days on market $550,000 Active 28 DOM
6. 2026-06-13
   days on market $550,000 Active 27 DOM
7. 2026-06-10
   days on market $550,000 Active 25 DOM
8. 2026-06-09
   days on market $550,000 Active 24 DOM
9. 2026-06-08
   days on market $550,000 Active 23 DOM
10. 2026-06-07
    days on market $550,000 Active 22 DOM
11. 2026-06-05
    days on market $550,000 Active 19 DOM
12. 2026-06-03
    days on market $550,000 Active 18 DOM
13. 2026-06-03
    days on market $550,000 Active 17 DOM
14. 2026-06-01
    days on market $550,000 Active 16 DOM
15. 2026-05-31
    days on market $550,000 Active 15 DOM
16. 2026-05-16
    listed $550,000 Active
17. 2025-01-28
    soldstatus $400,000 Closed 677-char remark

    Show marketing remark (677 chars)

    Welcome to 34 Cassius St, New Haven, CT - a generous two-unit property with fantastic value-add potential. Featuring 8 bedrooms and 2.5 bathrooms, this home is perfect for investors seeking substantial rental income or owner-occupants in need of extra space. Each unit offers spacious, bright living areas and plenty of room for updates and customization. The property also includes a large backyard, ideal for outdoor activities, gardening, or simply relaxing. Conveniently located near schools, parks, shopping, and dining, 34 Cassius St provides easy access to all that New Haven has to provide, making it an outstanding investment or the perfect canvas for your ideal home.

18. 2025-01-02
    status Under Contract 677-char remark

    Show marketing remark (677 chars)

    Welcome to 34 Cassius St, New Haven, CT - a generous two-unit property with fantastic value-add potential. Featuring 8 bedrooms and 2.5 bathrooms, this home is perfect for investors seeking substantial rental income or owner-occupants in need of extra space. Each unit offers spacious, bright living areas and plenty of room for updates and customization. The property also includes a large backyard, ideal for outdoor activities, gardening, or simply relaxing. Conveniently located near schools, parks, shopping, and dining, 34 Cassius St provides easy access to all that New Haven has to provide, making it an outstanding investment or the perfect canvas for your ideal home.

19. 2024-11-19
    historical Under Contract - Continue to Show 677-char remark

    Show marketing remark (677 chars)

    Welcome to 34 Cassius St, New Haven, CT - a generous two-unit property with fantastic value-add potential. Featuring 8 bedrooms and 2.5 bathrooms, this home is perfect for investors seeking substantial rental income or owner-occupants in need of extra space. Each unit offers spacious, bright living areas and plenty of room for updates and customization. The property also includes a large backyard, ideal for outdoor activities, gardening, or simply relaxing. Conveniently located near schools, parks, shopping, and dining, 34 Cassius St provides easy access to all that New Haven has to provide, making it an outstanding investment or the perfect canvas for your ideal home.

20. 2024-11-13
    listed $400,000 Active 677-char remark

    Show marketing remark (677 chars)

    Welcome to 34 Cassius St, New Haven, CT - a generous two-unit property with fantastic value-add potential. Featuring 8 bedrooms and 2.5 bathrooms, this home is perfect for investors seeking substantial rental income or owner-occupants in need of extra space. Each unit offers spacious, bright living areas and plenty of room for updates and customization. The property also includes a large backyard, ideal for outdoor activities, gardening, or simply relaxing. Conveniently located near schools, parks, shopping, and dining, 34 Cassius St provides easy access to all that New Haven has to provide, making it an outstanding investment or the perfect canvas for your ideal home.

21. 2015-10-30
    soldstatus $73,000 198-char remark

    Show marketing remark (198 chars)

    Huge Townhouse style multi family with additional attic space, this property is an incredible investment opportunity for buyers. Needs renovation but well worth the effort. Schedule a showing today.

22. 2015-09-24
    listed $76,320 198-char remark

    Show marketing remark (198 chars)

    Huge Townhouse style multi family with additional attic space, this property is an incredible investment opportunity for buyers. Needs renovation but well worth the effort. Schedule a showing today.

ⓘ 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: $6,994 · $583/mo
• Projected year-2 tax: $9,382 · $782/mo
• Expected delta: +$2,388/yr (+$199/mo · 34.1%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% 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: $63,024
• − Mortgage interest: −$30,809
• − Property taxes: −$6,994
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,042
• − Management: −$5,042
• − Depreciation: −$16,000
• Taxable loss: −$3,612
• Est. tax savings @ 24.0%: +$867
• After-tax cash flow: $6,301/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

+620.6% since first listed

7 events — show timeline

• 2026-05-16 Listed $550,000 Smart MLS
• 2025-01-28 Sold (MLS) $400,000 Smart MLS
• 2025-01-02 Pending — Smart MLS
• 2024-11-19 Contingent — Smart MLS
• 2024-11-13 Listed $400,000 Smart MLS
• 2015-10-30 Sold (MLS) $73,000 Smart MLS
• 2015-09-24 Listed $76,320 Smart MLS

Property tax history

+5.9%/yr

Latest (2023): $6,994 · -6.4% YoY. Source: county tax records.