26 Rosemary St · New London, CT 06320

$409,900

5 bd · 3.0 ba · 2,557 sqft · MultiFamily public records · 38 Days on market

Built 1890 5,227 sqft lot $160/sqft · 14% above area Est $361k · 14% 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +1.4/15.0
• Schools +1.4/10.0
• 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

Don't undersell this one-lean into both the investment angle * and * the owner-occupant upside: --- Exceptional opportunity to own a large, well-maintained 3-family property in the heart of New London, ideally located with convenient access to shopping, dining, highways, and local amenities. Each of the three units offers a functional layout with 2 spacious bedrooms, making this a strong performer for both investors and owner-occupants alike. The first-floor unit has been refreshed and delivered vacant, presenting the perfect opportunity for an owner occupant or an investor looking to immediately secure top-market rent. The remaining units offer consistent income potential, supported by

Key facts

• Separate utilities
• Functional layout
• Prominent corner lot

Tags

• FUNCTIONAL LAYOUT
• SEPARATE UTILITIES
• MAJOR MECHANICALS
• DETACHED 2 CAR GARAGE
• PROMINENT CORNER LOT
• EXCELLENT CURB APPEAL

Property features AI

Finance

• Financial info: Multi-family investment property with three units

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water connection; Public sewer connection
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Vinyl siding; Asphalt shingle roof; Masonry and stone foundation; Built prior to or by public records (living area recorded)
• Exterior features: Corner lot with water view; Walkable to the water

Interior

• Kitchen: No specific appliances listed
• Bedrooms: Six bedrooms total (spread across units)
• Bathrooms: Three full bathrooms
• Heating & cooling: Hot air heating; Electric and natural gas fuel sources
• Interior features: Window air conditioning units; Full basement
• Laundry & utility: 40-gallon hot water tank

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $410k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $439/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $410k).
• Recommended offer: $398k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 4.3% in New London — 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 74/100 on livability (#66 in CT, #4,772 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A-, crime B+; Watch: employment D+, schools F, amenities F.
• New London School District (urban): math 11% / reading 21% proficiency, ranked #149 of 153 in CT (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 69 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).
• At $5,037/mo this rent would consume 102% of the median local household income ($59k/yr) (locally 2014% 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.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($398k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $40k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $397,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1890 — 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 F-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. 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: 1.23% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.76%
• DSCR: 1.61
• GRM: 6.8

CMA / ARV

• ARV (median comp): $360,984
• List price: $409,900
• Delta: 13.55%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Vauxhall St	0.49mi	6/2.0 (+1)	2,560 (+0%)	9mo	$422,000	$165	60
17 Amity St	0.52mi	4/2.0 (-1)	2,648 (+4%)	7mo	$345,000	$130	55
21 Amity St	0.52mi	6/4.0 (+1)	2,650 (+4%)	12mo	$432,000	$163	51
216 Vauxhall St	0.58mi	6/3.0 (+1)	2,462 (-4%)	18mo	$315,000	$128	47
115 Ledyard St	0.67mi	5/3.0	2,671 (+4%)	19mo	$421,000	$158	46
19 Prospect St	0.55mi	4/2.0 (-1)	2,302 (-10%)	9mo	$410,000	$178	41
17 Dow St	0.68mi	4/4.0 (-1)	2,728 (+7%)	14mo	$428,000	$157	37
71 West St	0.50mi	6/3.0 (+1)	2,863 (+12%)	19mo	$399,999	$140	36
170 Ledyard St	0.58mi	4/2.0 (-1)	2,256 (-12%)	20mo	$325,000	$144	27
44 Georgiana St	0.72mi	4/4.0 (-1)	2,720 (+6%)	24mo	$450,000	$165	27
205 Connecticut Ave	0.70mi	6/3.0 (+1)	2,284 (-11%)	22mo	$215,000	$94	26

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 · 0.7% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $5,948
• Equity at exit: $61,117

10-year hold

• IRR: 8.7%
• Equity multiple: 1.60×
• Total profit: $68,310
• Equity at exit: $35,441

Cash invested: $114,772 (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 06320

• Home prices YoY: -20.7%
• Rents YoY: 0.7%
• Active inventory: 69
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $5,037 high
• Mortgage (P&I): −$2,150
• Tax from tax record: −$343 /mo · $4,119/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,058
• Net cashflow: $1,316

Break-even live

Break-even rent $3,372

Max offer price $409,900

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,037
Total (3 units)			$5,037

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: $102,475
• Closing costs: $12,297
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Berkeley Ave Unit 2 New London, CT	4.0	1.0	1800	$2,500	$1.39	44d	1	0.33mi
10 Morgan Ct Groton, CT	4.0	3.0	2842	$40,000	$14.07	44d	1	1.26mi

Listing history 13 events

1. 2026-06-08
   days on market $409,900 Active 38 DOM
2. 2026-06-07
   days on market $409,900 Active 37 DOM
3. 2026-06-05
   days on market $409,900 Active 34 DOM
4. 2026-06-03
   days on market $409,900 Active 33 DOM
5. 2026-06-02
   days on market $409,900 Active 32 DOM
6. 2026-06-01
   days on market $409,900 Active 31 DOM
7. 2026-05-31
   days on market $409,900 Active 30 DOM
8. 2026-05-30
   days on market $409,900 Active 29 DOM
9. 2026-05-15
   price $409,900 1234-char remark
10. 2026-05-06
    price $419,900 1234-char remark
11. 2026-04-02
    listed $449,900 Active 1234-char remark
12. 2014-02-28
    historical
13. 2012-11-06
    listed $170,000

ⓘ 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: $4,119 · $343/mo
• Projected year-2 tax: $6,445 · $537/mo
• Expected delta: +$2,326/yr (+$194/mo · 56.5%)

ⓘ 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 6/10 Major 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,444
• − Mortgage interest: −$22,961
• − Property taxes: −$4,119
• − Insurance: −$2,050
• − Repairs & maintenance: −$4,836
• − Management: −$4,836
• − Depreciation: −$11,924
• Taxable income: $9,719
• Est. tax owed @ 24.0%: −$2,333
• After-tax cash flow: $13,455/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 London School District
• NCES district ID: 0902820
• Math proficiency: 11% ▼ -11.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $40,640
• Composite: 13.66/100
• National rank: #9502
• State rank: #149 of 153 in CT

Livability — New London

• Score: 74/100
• State rank: #66
• US rank: #4772

Category grades

Amenities F Commute F Cost of living B+ Crime B+ Employment D+ Housing A- Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New London, CT
• County: New London County · 147,197 people
• City population: 27,703
• Metro: Norwich-New London, CT
• Population (ZIP): 27,703
• Household income: $59,170
• Rent vs Own: 63.9% rent · 36.1% own
• Severe rent burden: 2014.0

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 45% Hispanic / Latino 34% Black 13% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 17% Dominican 7%
• Common ancestry: Romanian 3% Hispanic 3% Lithuanian 1%
• Foreign-born: 19% · Canada, Jamaica
• Languages at home: 67% English-only · Spanish 27% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Southeastern Connecticut

• 2024 margin: D (+13.0) · D 55.6% · R 42.6% · Other 1.8%
• All cycles: 2024: D+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.39%
• Current HPI: 273.3024
• Rent YoY: ▲ 0.70%
• Metro: Norwich-New London, 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

+141.1% since first listed

6 events — show timeline

• 2026-06-08 Listing Removed — Smart MLS
• 2026-05-15 Price Changed $409,900 Smart MLS
• 2026-05-06 Price Changed $419,900 Smart MLS
• 2026-04-02 Listed $449,900 Smart MLS
• 2014-02-28 Listing Removed — Smart MLS
• 2012-11-06 Listed $170,000 Smart MLS

Property tax history

+0.6%/yr

Latest (2023): $4,119 · +1.9% YoY. Source: county tax records.