265 James St · New Haven, CT 06513

$390,000

4 bd · 3.0 ba · 2,330 sqft · MultiFamily public records · 9 Days on market

Built 1900 3,920 sqft lot Est $473k · 18% under

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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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Diamond in the rough! With a little work and this could be good be a good income producer

Key facts

• Income potential
• Inviting living area
• Move-in-ready home

Tags

• TWO-FAMILY HOME
• INCOME POTENTIAL
• WELL-MAINTAINED PROPERTY
• INVITING LIVING AREA
• IMMEDIATE RENTAL INCOME
• MOVE-IN-READY HOME

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive. Per door: $400/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $390k).
• Cap rate 8.8% 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: 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: Fair Haven School (math 3% / reading 12%, grade F, #529 of 553 statewide, top 97%, 682 students, 81% FRL) — zoned schools average 81% FRL vs 66% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 101 active listings in the ZIP; 28 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 $4,351/mo this rent would consume 108% of the median local household income ($48k/yr) (locally 2664% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $109k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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 $75k; list at $390k implies a 420% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 61% 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 $390,000

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. Built in 1900 — 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. 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: 1.12% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.80%
• DSCR: 1.39
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $472,990
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
169 James St	0.19mi	5/3.0 (+1)	2,255 (-3%)	2mo	$376,000	$167	79
175 James St	0.18mi	5/3.0 (+1)	2,263 (-3%)	7mo	$400,000	$177	76
422 Blatchley Ave	0.30mi	5/3.0 (+1)	2,220 (-5%)	7mo	$449,900	$203	68
295 Lloyd St	0.12mi	4/2.0	2,621 (+12%)	5mo	$325,000	$124	65
20 Nash St	0.59mi	5/3.0 (+1)	2,229 (-4%)	2mo	$740,000	$332	58
71 Houston St	0.58mi	5/2.0 (+1)	2,296 (-2%)	6mo	$515,000	$224	56
34 NASH St	0.60mi	4/2.5	2,361 (+1%)	15mo	$600,000	$254	55
315 Lombard St	0.54mi	5/2.0 (+1)	2,362 (+1%)	11mo	$395,000	$167	55
141 Wolcott St	0.30mi	5/3.0 (+1)	2,632 (+13%)	7mo	$449,900	$171	53
429 Poplar St	0.37mi	5/3.0 (+1)	2,539 (+9%)	12mo	$360,000	$142	53
439 Lombard St	0.40mi	4/2.0	1,996 (-14%)	4mo	$440,000	$220	50
121 Nicoll St	0.69mi	5/2.0 (+1)	2,258 (-3%)	12mo	$510,000	$226	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.12% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.93×
• Total profit: $-7,209
• Equity at exit: $58,150

10-year hold

• IRR: 9.1%
• Equity multiple: 1.74×
• Total profit: $80,327
• Equity at exit: $33,720

Cash invested: $109,200 (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 06513

• Home prices YoY: -7.8%
• Rents YoY: 4.1%
• Active inventory: 101
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $4,351 high
• Mortgage (P&I): −$2,045
• Tax from tax record: −$429 /mo · $5,146/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$914
• Net cashflow: $801

Break-even live

Break-even rent $3,337

Max offer price $390,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,352
Total (2 units)			$4,351

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
295 Lloyd St Unit 2 New Haven, CT	4.0	2.0	2621	$2,400	$0.92	2d	1	0.11mi
302 Exchange St Unit 2 New Haven, CT	5.0	2.0	1800	$2,500	$1.39	43d	1	0.24mi
426 Poplar St New Haven, CT	3.0	1.0	1658	$1,800	$1.09	43d	1	0.33mi
115 Lloyd St #2 New Haven, CT	4.0	2.0	2100	$2,500	$1.19	43d	1	0.41mi
902 State St #2 New Haven, CT	3.0	2.5	1950	$3,750	$1.92	23d	1	0.56mi
28 Edwards St Unit 2 New Haven, CT	4.0	2.0	1800	$3,850	$2.14	14d	1	0.58mi
39 Houston St Unit 2 New Haven, CT	3.0	1.0	2863	$2,200	$0.77	43d	1	0.60mi
199 English St Unit 2 New Haven, CT	3.0	1.0	2776	$2,000	$0.72	43d	1	0.60mi
31 Clark St New Haven, CT	4.0	2.0	1694	$4,200	$2.48	3d	1	0.64mi
441 Chapel St Unit 2A1 (shared) New Haven, CT	4.0	4.0	2151	$3,600	$1.67	2d	1	0.65mi
37 E Pearl St New Haven, CT	3.0	1.0	1600	$2,595	$1.62	43d	1	0.65mi
300 Humphrey St Unit 2 New Haven, CT	3.0	2.0	2868	$3,295	$1.15	43d	1	0.66mi
315 Humphrey St Unit A New Haven, CT	4.0	3.5	2465	$4,500	$1.83	3d	1	0.69mi
30 Trumbull St New Haven, CT	5.0	4.0	2668	$5,000	$1.87	3d	1	0.83mi
120 Downing St Unit 3 New Haven, CT	3.0	2.0	1800	$2,450	$1.36	43d	1	0.84mi
63 Lombard St Unit 3 New Haven, CT	3.0	1.0	3053	$1,850	$0.61	3d	1	0.86mi
399 Orange St New Haven, CT	4.0	1.5	1650	$3,200	$1.94	11d	1	0.86mi
395 Orange St Unit 2 New Haven, CT	4.0	1.5	1650	$3,000	$1.82	43d	1	0.87mi
367 Orange St New Haven, CT	3.0	1.0–2.0	1075	$4,973	$4.63	2d	43	0.87mi
239 Bradley St Unit 1 New Haven, CT	3.0	1.0	1982	$3,650	$1.84	43d	1	0.91mi
54 Trumbull St Unit 54-1 New Haven, CT	5.0	2.5	2250	$6,695	$2.98	14d	1	0.94mi
68 Anderson St Unit A New Haven, CT	3.0	2.5	1693	$4,500	$2.66	43d	1	0.98mi
339 Willow St Unit 1 New Haven, CT	4.0	2.0	2163	$4,050	$1.87	11d	1	1.13mi
420 Whitney Ave Unit 424-3B New Haven, CT	4.0	3.0	1800	$4,700	$2.61	3d	1	1.16mi
420 Whitney Ave New Haven, CT	3.0–4.0	2.0–3.0	1800	$4,700	$2.61	11d	2	1.16mi
904 Quinnipiac Ave New Haven, CT	3.0	1.5	2125	$3,298	$1.55	2d	1	1.21mi
56 Mansfield St Unit 1 New Haven, CT	3.0	1.0	2759	$2,800	$1.01	43d	1	1.28mi
134 Mansfield St New Haven, CT	5.0	2.0	1960	$5,500	$2.81	23d	1	1.36mi

Listing history 10 events

1. 2026-03-26
   status Under Contract
2. 2026-03-17
   listed $390,000 Active
3. 2013-11-15
   soldstatus $75,000 89-char remark

   Show marketing remark (89 chars)

   Diamond in the rough! With a little work and this could be good be a good income producer

4. 2013-10-18
   listed $64,900 89-char remark

   Show marketing remark (89 chars)

   Diamond in the rough! With a little work and this could be good be a good income producer

5. 2008-04-30
   soldstatus $95,000 219-char remark

   Show marketing remark (219 chars)

   Three family dwelling offering great potential, each unit has two bedrooms each floor- copper has been removed- home offers great potential . Will not qualifly for fha or chfa- pre qual or proof needed with all offers-

6. 2008-01-31
   historical
7. 2008-01-11
   listed $114,900 219-char remark

   Show marketing remark (219 chars)

   Three family dwelling offering great potential, each unit has two bedrooms each floor- copper has been removed- home offers great potential . Will not qualifly for fha or chfa- pre qual or proof needed with all offers-

8. 2007-01-31
   listed $189,900
9. 2005-05-26
   soldstatus $151,000
10. 2002-06-19
    soldstatus $86,000

ⓘ 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: $5,146 · $429/mo
• Projected year-2 tax: $6,746 · $562/mo
• Expected delta: +$1,600/yr (+$133/mo · 31.1%)

ⓘ 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 61% 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: $52,212
• − Mortgage interest: −$21,846
• − Property taxes: −$5,146
• − Insurance: −$1,950
• − Repairs & maintenance: −$4,177
• − Management: −$4,177
• − Depreciation: −$11,345
• Taxable income: $3,571
• Est. tax owed @ 24.0%: −$857
• After-tax cash flow: $8,752/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): 38,888
• Household income: $48,500
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2664.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 47% White 26% Black 22% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 25% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 17% · Canada, Jamaica, South Korea
• Languages at home: 56% English-only · Spanish 39% Other Indo-European 1% 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: ▼ -30.87%
• Current HPI: 364.006
• Rent YoY: ▲ 4.12%
• 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

+353.5% since first listed

10 events — show timeline

• 2026-03-26 Pending — Smart MLS
• 2026-03-17 Listed $390,000 Smart MLS
• 2013-11-15 Sold (MLS) $75,000 Smart MLS
• 2013-10-18 Listed $64,900 Smart MLS
• 2008-04-30 Sold (MLS) $95,000 Smart MLS
• 2008-01-31 Listing Removed — Smart MLS
• 2008-01-11 Listed $114,900 Smart MLS
• 2007-01-31 Listed $189,900 Smart MLS
• 2005-05-26 Sold (Public Records) $151,000 Public Records
• 2002-06-19 Sold (Public Records) $86,000 Public Records

Property tax history

+6.0%/yr

Latest (2023): $5,146 · -6.4% YoY. Source: county tax records.