None · New Haven, CT 06513

$239,900

4 bd · 2.0 ba · 2,353 sqft · MultiFamily public records · 25 Days on market

Built 1900 4,356 sqft lot Est $407k · 41% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

This is a Multi-family house that will be contingent upon Probate approval and will be Sold "AS IS WHERE IS" This process can be months to approve. Attorney Michael Sweeney has estimated 3-4 months. There is a tenant on the second floor that will remain in the property. The Administrator has never lived in the property and has filled out the Seller Disclosure as " Unknown" for most of the questions. The Administrator is not aware that the tenant has paid rent or has not paid rent this year. The first floor requires a complete remodel and it looks like the mechanicals are not connected. The Heaters may have been replaced in basement and second floor. The Hot water tanks a

Key facts

• 4,356 sq ft lot
• Built 1900
• Listed 25 days

🏷️ Possibly a rental listed for sale. The $239,900 price doesn't fit this home's estimated sale value (~$407,069) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.1% 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 fast (+4.1%/yr); 101 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 $3,780/mo this rent would consume 94% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $67k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% 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 $236,301 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.58% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.78%
• DSCR: 1.92
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $407,069
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
169 James St	0.28mi	5/3.0 (+1)	2,255 (-4%)	2mo	$376,000	$167	69
71 Houston St	0.36mi	5/2.0 (+1)	2,296 (-2%)	6mo	$515,000	$224	69
175 James St	0.29mi	5/3.0 (+1)	2,263 (-4%)	7mo	$400,000	$177	66
10 Pardee St	0.59mi	4/2.0	2,358 (+0%)	12mo	$335,000	$142	62
173 James St	0.28mi	5/3.0 (+1)	2,324 (-1%)	20mo	$410,000	$176	59
141 Wolcott St	0.15mi	5/3.0 (+1)	2,632 (+12%)	8mo	$449,900	$171	58
295 Lloyd St	0.43mi	4/2.0	2,621 (+11%)	5mo	$325,000	$124	57
533 Quinnipiac Ave	0.59mi	5/2.5 (+1)	2,257 (-4%)	6mo	$391,500	$173	53
175 Fairmont Ave	0.52mi	4/2.0	2,110 (-10%)	12mo	$298,000	$141	49
422 Blatchley Ave	0.68mi	5/3.0 (+1)	2,220 (-6%)	7mo	$449,900	$203	44
98 Quinnipiac Ave	0.74mi	4/2.0	2,112 (-10%)	6mo	$417,500	$198	43
429 Poplar St	0.65mi	5/3.0 (+1)	2,539 (+8%)	12mo	$360,000	$142	38

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: 14.5%
• Equity multiple: 1.59×
• Total profit: $39,675
• Equity at exit: $35,770

10-year hold

• IRR: 24.2%
• Equity multiple: 3.21×
• Total profit: $148,668
• Equity at exit: $20,742

Cash invested: $67,172 (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: 10.6×

Monthly cashflow live

• Estimated rent: $3,780 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$465 /mo · $5,580/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$794
• Net cashflow: $1,163

Break-even live

Break-even rent $2,308

Max offer price $239,900

Occupancy floor 64%

Sensitivity live

Price	-10% $1,299	-5% $1,231	+0% $1,163	+5% $1,095	+10% $1,027
Rent	-10% $865	-5% $1,014	+0% $1,163	+5% $1,312	+10% $1,462
Rate	-1.0pp $1,284	-0.5pp $1,224	base $1,163	+0.5pp $1,101	+1.0pp $1,038

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,780
Total (2 units)			$3,780

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 Lloyd St #2 New Haven, CT	4.0	2.0	2100	$2,500	$1.19	44d	1	0.07mi
302 Exchange St Unit 2 New Haven, CT	5.0	2.0	1800	$2,500	$1.39	44d	1	0.22mi
39 Houston St Unit 2 New Haven, CT	3.0	1.0	2863	$2,200	$0.77	44d	1	0.29mi
37 E Pearl St New Haven, CT	3.0	1.0	1600	$2,595	$1.62	44d	1	0.35mi
295 Lloyd St Unit 2 New Haven, CT	4.0	2.0	2621	$2,400	$0.92	3d	1	0.44mi
426 Poplar St New Haven, CT	3.0	1.0	1658	$1,800	$1.09	44d	1	0.65mi
441 Chapel St Unit 2A1 (shared) New Haven, CT	4.0	4.0	2151	$3,600	$1.67	3d	1	0.71mi
199 English St Unit 2 New Haven, CT	3.0	1.0	2776	$2,000	$0.72	44d	1	0.90mi
902 State St #2 New Haven, CT	3.0	2.5	1950	$3,750	$1.92	24d	1	0.99mi
63 Lombard St Unit 3 New Haven, CT	3.0	1.0	3053	$1,850	$0.61	4d	1	1.01mi
120 Downing St Unit 3 New Haven, CT	3.0	2.0	1800	$2,450	$1.36	44d	1	1.01mi
28 Edwards St Unit 2 New Haven, CT	4.0	2.0	1800	$3,850	$2.14	15d	1	1.03mi
31 Clark St New Haven, CT	4.0	2.0	1694	$4,200	$2.48	4d	1	1.05mi
300 Humphrey St Unit 2 New Haven, CT	3.0	2.0	2868	$3,295	$1.15	44d	1	1.08mi
315 Humphrey St Unit A New Haven, CT	4.0	3.5	2465	$4,500	$1.83	4d	1	1.11mi
904 Quinnipiac Ave New Haven, CT	3.0	1.5	2125	$3,298	$1.55	3d	1	1.15mi
30 Trumbull St New Haven, CT	5.0	4.0	2668	$5,000	$1.87	4d	1	1.16mi
367 Orange St New Haven, CT	3.0	1.0–2.0	1075	$4,973	$4.63	3d	43	1.16mi
399 Orange St New Haven, CT	4.0	1.5	1650	$3,200	$1.94	11d	1	1.18mi
395 Orange St Unit 2 New Haven, CT	4.0	1.5	1650	$3,000	$1.82	44d	1	1.18mi
54 Trumbull St Unit 54-1 New Haven, CT	5.0	2.5	2250	$6,695	$2.98	15d	1	1.27mi
239 Bradley St Unit 1 New Haven, CT	3.0	1.0	1982	$3,650	$1.84	44d	1	1.28mi
105 Hillside Ave New Haven, CT	4.0	2.0	2080	$3,500	$1.68	11d	1	1.34mi
68 Anderson St Unit A New Haven, CT	3.0	2.5	1693	$4,500	$2.66	44d	1	1.44mi

Listing history 4 events

1. 2025-05-15
   status Under Contract
2. 2025-04-22
   historical Under Contract - Continue to Show
3. 2025-04-10
   status Under Contract
4. 2025-04-07
   listed $239,900 Active

ⓘ 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: $5,580 · $465/mo
• Projected year-2 tax: $5,580 · $465/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 60% 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: $45,360
• − Mortgage interest: −$13,438
• − Property taxes: −$5,580
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,629
• − Management: −$3,629
• − Depreciation: −$6,979
• Taxable income: $10,906
• Est. tax owed @ 24.0%: −$2,617
• After-tax cash flow: $11,341/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

4 events — show timeline

• 2025-05-15 Pending — Smart MLS
• 2025-04-22 Contingent — Smart MLS
• 2025-04-10 Pending — Smart MLS
• 2025-04-07 Listed $239,900 Smart MLS

Property tax history

+6.8%/yr

Latest (2023): $5,580 · -6.4% YoY. Source: county tax records.