94 Carlisle St · New Haven, CT 06519

$499,000

5 bd · 3.0 ba · 2,290 sqft · MultiFamily public records · 40 Days on market

Built 1900 3,484 sqft lot $218/sqft · 34% above area Est $372k · 34% over

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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
• DSCR +10.0/10.0
• Appreciation +9.9/10.0
• 1% rule +8.7/10.0
• 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 MLS

Seller says bring me solid offers! Exceptional investment opportunity or ideal owner-occupied 3-family in a prime New Haven location! Just a short walk to Metro North and minutes from Yale University, this property is perfectly positioned in one of the area's strongest rental markets. The first and second floors each offer spacious 2-bedroom, 1-bath units, while the third floor features a bright and efficient studio apartment. The property has been updated, providing immediate income with additional upside potential. Investor Highlights: Current rents total $3,900/month and are below market value, offering a clear path to increased cash flow and improved returns. All units are currently on month-to-month leases, allowing for flexibility to reposition rents. This is an opportunity creating a rare opportunity to set market rents immediately or occupy one unit while generating income from the others. With strong rental demand driven by proximity to Metro North. Yale University, hospitals, and public transportation, this asset is well-suited for both seasoned investors and those looking to enter the multifamily market. The combination of location, unit mix, and value-add potential makes this an attractive long-term hold with income growth potential. With a 2021 New Roof, New water heater and chimney this is the one you have been waiting for. Sold "AS IS". Opportunity for private lending available.

Key facts

• Updated property
• Strong rental demand
• Immediate income

Tags

• PRIME NEW HAVEN LOCATION
• SHORT WALK TO METRO NORTH
• MINUTES FROM YALE UNIVERSITY
• UPDATED PROPERTY
• IMMEDIATE INCOME
• STRONG RENTAL DEMAND

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 1×1bd/1ba units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $708/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $499k).
• Recommended offer: $484k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $6,825/mo this rent would consume 165% 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 $52k of equity ($3k loan paydown + $49k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $140k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$84k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($484k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $219k; list at $499k implies a 128% 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, 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 $484,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1900 — 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: 1.37% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.24%
• DSCR: 1.81
• GRM: 6.1

CMA / ARV

• ARV (median comp): $372,119
• List price: $499,000
• Delta: 34.10%
• 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
46 Liberty St	0.06mi	4/2.0 (-1)	2,110 (-8%)	2mo	$320,000	$152	74
95 Frank St	0.58mi	6/3.0 (+1)	2,243 (-2%)	2mo	$385,000	$172	63
20-22 Hurlburt St	0.55mi	6/3.0 (+1)	2,429 (+6%)	0mo	$362,500	$149	59
222 Howard Ave	0.67mi	5/3.0	2,311 (+1%)	11mo	$470,000	$203	58
45 Frank St	0.50mi	6/3.0 (+1)	2,120 (-7%)	4mo	$430,000	$203	56
133 Plymouth St	0.59mi	6/3.0 (+1)	2,100 (-8%)	4mo	$275,000	$131	50
11 White St	0.49mi	6/3.0 (+1)	2,502 (+9%)	10mo	$445,000	$178	48
152 Lamberton St	0.61mi	6/3.0 (+1)	2,080 (-9%)	8mo	$340,000	$163	45
56 Ann St	0.71mi	5/3.0	2,067 (-10%)	6mo	$407,000	$197	45
45 Kossuth St	0.67mi	6/3.0 (+1)	2,153 (-6%)	11mo	$425,000	$197	45
121 Plymouth St	0.61mi	5/2.0	2,539 (+11%)	10mo	$355,000	$140	41
171 Frank St	0.68mi	5/3.0	1,975 (-14%)	10mo	$340,000	$172	38

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: 37.7%
• Equity multiple: 3.88×
• Total profit: $402,584
• Equity at exit: $442,622

10-year hold

• IRR: 32.6%
• Equity multiple: 8.74×
• Total profit: $1,081,701
• Equity at exit: $947,265

Cash invested: $139,720 (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: 17.7×

Monthly cashflow live

• Estimated rent: $6,825 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$443 /mo · $5,320/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,433
• Net cashflow: $2,124

Break-even live

Break-even rent $4,137

Max offer price $499,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,694
1× unit	1	1	$2,132
Total (3 units)			$6,825

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34 Cassius St Unit 36 New Haven, CT	5.0	2.0	1872	$2,300	$1.23	43d	1	0.35mi
36 Cassius St New Haven, CT	4.0	1.5	1872	$2,300	$1.23	43d	1	0.35mi
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	43d	1	0.83mi
41 Howe St New Haven, CT	4.0	2.0	1795	$3,750	$2.09	43d	1	0.84mi
43 Howe St New Haven, CT	4.0	2.0	1995	$4,995	$2.50	14d	1	0.84mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	14d	1	0.92mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3097	$6,250	$2.02	23d	1	0.92mi
441 Chapel St Unit 2A1 (shared) New Haven, CT	4.0	4.0	2151	$3,600	$1.67	2d	1	1.02mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	2d	1	1.05mi
395 Orange St Unit 2 New Haven, CT	4.0	1.5	1650	$3,000	$1.82	43d	1	1.13mi
399 Orange St New Haven, CT	4.0	1.5	1650	$3,200	$1.94	11d	1	1.14mi
30 Trumbull St New Haven, CT	5.0	4.0	2668	$5,000	$1.87	3d	1	1.16mi
54 Trumbull St Unit 54-1 New Haven, CT	5.0	2.5	2250	$6,695	$2.98	14d	1	1.17mi
31 Clark St New Haven, CT	4.0	2.0	1694	$4,200	$2.48	3d	1	1.45mi
37 Center St Unit 2 West Haven, CT	5.0	2.0	2500	$3,300	$1.32	2d	1	1.45mi
591 Orchard St Unit 1 New Haven, CT	4.0	2.0	1696	$2,900	$1.71	3d	1	1.45mi

Listing history 11 events

1. 2026-05-11
   historical Under Contract - Continue to Show 1426-char remark

   Show marketing remark (1426 chars)

   Seller says bring me solid offers! Exceptional investment opportunity or ideal owner-occupied 3-family in a prime New Haven location! Just a short walk to Metro North and minutes from Yale University, this property is perfectly positioned in one of the area's strongest rental markets. The first and second floors each offer spacious 2-bedroom, 1-bath units, while the third floor features a bright and efficient studio apartment. The property has been updated, providing immediate income with additional upside potential. Investor Highlights: Current rents total $3,900/month and are below market value, offering a clear path to increased cash flow and improved returns. All units are currently on month-to-month leases, allowing for flexibility to reposition rents. This is an opportunity creating a rare opportunity to set market rents immediately or occupy one unit while generating income from the others. With strong rental demand driven by proximity to Metro North. Yale University, hospitals, and public transportation, this asset is well-suited for both seasoned investors and those looking to enter the multifamily market. The combination of location, unit mix, and value-add potential makes this an attractive long-term hold with income growth potential. With a 2021 New Roof, New water heater and chimney this is the one you have been waiting for. Sold "AS IS". Opportunity for private lending available.

2. 2026-05-08
   price $499,000 1426-char remark

   Show marketing remark (1426 chars)

   Seller says bring me solid offers! Exceptional investment opportunity or ideal owner-occupied 3-family in a prime New Haven location! Just a short walk to Metro North and minutes from Yale University, this property is perfectly positioned in one of the area's strongest rental markets. The first and second floors each offer spacious 2-bedroom, 1-bath units, while the third floor features a bright and efficient studio apartment. The property has been updated, providing immediate income with additional upside potential. Investor Highlights: Current rents total $3,900/month and are below market value, offering a clear path to increased cash flow and improved returns. All units are currently on month-to-month leases, allowing for flexibility to reposition rents. This is an opportunity creating a rare opportunity to set market rents immediately or occupy one unit while generating income from the others. With strong rental demand driven by proximity to Metro North. Yale University, hospitals, and public transportation, this asset is well-suited for both seasoned investors and those looking to enter the multifamily market. The combination of location, unit mix, and value-add potential makes this an attractive long-term hold with income growth potential. With a 2021 New Roof, New water heater and chimney this is the one you have been waiting for. Sold "AS IS". Opportunity for private lending available.

3. 2026-05-05
   status Active 1426-char remark

   Show marketing remark (1426 chars)

   Seller says bring me solid offers! Exceptional investment opportunity or ideal owner-occupied 3-family in a prime New Haven location! Just a short walk to Metro North and minutes from Yale University, this property is perfectly positioned in one of the area's strongest rental markets. The first and second floors each offer spacious 2-bedroom, 1-bath units, while the third floor features a bright and efficient studio apartment. The property has been updated, providing immediate income with additional upside potential. Investor Highlights: Current rents total $3,900/month and are below market value, offering a clear path to increased cash flow and improved returns. All units are currently on month-to-month leases, allowing for flexibility to reposition rents. This is an opportunity creating a rare opportunity to set market rents immediately or occupy one unit while generating income from the others. With strong rental demand driven by proximity to Metro North. Yale University, hospitals, and public transportation, this asset is well-suited for both seasoned investors and those looking to enter the multifamily market. The combination of location, unit mix, and value-add potential makes this an attractive long-term hold with income growth potential. With a 2021 New Roof, New water heater and chimney this is the one you have been waiting for. Sold "AS IS". Opportunity for private lending available.

4. 2026-05-03
   historical Under Contract - Continue to Show 1426-char remark

   Show marketing remark (1426 chars)

   Seller says bring me solid offers! Exceptional investment opportunity or ideal owner-occupied 3-family in a prime New Haven location! Just a short walk to Metro North and minutes from Yale University, this property is perfectly positioned in one of the area's strongest rental markets. The first and second floors each offer spacious 2-bedroom, 1-bath units, while the third floor features a bright and efficient studio apartment. The property has been updated, providing immediate income with additional upside potential. Investor Highlights: Current rents total $3,900/month and are below market value, offering a clear path to increased cash flow and improved returns. All units are currently on month-to-month leases, allowing for flexibility to reposition rents. This is an opportunity creating a rare opportunity to set market rents immediately or occupy one unit while generating income from the others. With strong rental demand driven by proximity to Metro North. Yale University, hospitals, and public transportation, this asset is well-suited for both seasoned investors and those looking to enter the multifamily market. The combination of location, unit mix, and value-add potential makes this an attractive long-term hold with income growth potential. With a 2021 New Roof, New water heater and chimney this is the one you have been waiting for. Sold "AS IS". Opportunity for private lending available.

5. 2026-04-16
   listed $509,000 Active 1426-char remark

   Show marketing remark (1426 chars)

   Seller says bring me solid offers! Exceptional investment opportunity or ideal owner-occupied 3-family in a prime New Haven location! Just a short walk to Metro North and minutes from Yale University, this property is perfectly positioned in one of the area's strongest rental markets. The first and second floors each offer spacious 2-bedroom, 1-bath units, while the third floor features a bright and efficient studio apartment. The property has been updated, providing immediate income with additional upside potential. Investor Highlights: Current rents total $3,900/month and are below market value, offering a clear path to increased cash flow and improved returns. All units are currently on month-to-month leases, allowing for flexibility to reposition rents. This is an opportunity creating a rare opportunity to set market rents immediately or occupy one unit while generating income from the others. With strong rental demand driven by proximity to Metro North. Yale University, hospitals, and public transportation, this asset is well-suited for both seasoned investors and those looking to enter the multifamily market. The combination of location, unit mix, and value-add potential makes this an attractive long-term hold with income growth potential. With a 2021 New Roof, New water heater and chimney this is the one you have been waiting for. Sold "AS IS". Opportunity for private lending available.

6. 2021-02-05
   soldstatus $219,000
7. 2021-02-03
   soldstatus $219,000 Closed 603-char remark

   Show marketing remark (603 chars)

   INVESTORS AND OWNER-OCCUPIED BUYERS TAKE NOTE! A 3-family house just steps to the train station under $250K! Do not miss out on this multifamily with great rental income potential. The first and second-floor units are 2 bedrooms and 1 bath, and the third floor has a spacious studio apartment. Convenient to highways, hospitals, Yale, or commuters. All rents are below market value. Property sold “As Is” and Inspections are for informational purposes only. This property is located near the new development of New Haven apartments and businesses. Final and best offers by October 14th 5:00

8. 2020-10-13
   historical Under Contract - Continue to Show 603-char remark

   Show marketing remark (603 chars)

   INVESTORS AND OWNER-OCCUPIED BUYERS TAKE NOTE! A 3-family house just steps to the train station under $250K! Do not miss out on this multifamily with great rental income potential. The first and second-floor units are 2 bedrooms and 1 bath, and the third floor has a spacious studio apartment. Convenient to highways, hospitals, Yale, or commuters. All rents are below market value. Property sold “As Is” and Inspections are for informational purposes only. This property is located near the new development of New Haven apartments and businesses. Final and best offers by October 14th 5:00

9. 2020-09-30
   listed $219,000 Active 603-char remark

   Show marketing remark (603 chars)

   INVESTORS AND OWNER-OCCUPIED BUYERS TAKE NOTE! A 3-family house just steps to the train station under $250K! Do not miss out on this multifamily with great rental income potential. The first and second-floor units are 2 bedrooms and 1 bath, and the third floor has a spacious studio apartment. Convenient to highways, hospitals, Yale, or commuters. All rents are below market value. Property sold “As Is” and Inspections are for informational purposes only. This property is located near the new development of New Haven apartments and businesses. Final and best offers by October 14th 5:00

10. 2003-10-30
    soldstatus $110,000
11. 2001-07-03
    soldstatus $55,000

ⓘ 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: $5,320 · $443/mo
• Projected year-2 tax: $7,999 · $667/mo
• Expected delta: +$2,679/yr (+$223/mo · 50.4%)

ⓘ 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: $81,900
• − Mortgage interest: −$27,952
• − Property taxes: −$5,320
• − Insurance: −$2,495
• − Repairs & maintenance: −$6,552
• − Management: −$6,552
• − Depreciation: −$14,516
• Taxable income: $18,513
• Est. tax owed @ 24.0%: −$4,443
• After-tax cash flow: $21,041/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

+807.3% since first listed

11 events — show timeline

• 2026-05-11 Contingent — Smart MLS
• 2026-05-08 Price Changed $499,000 Smart MLS
• 2026-05-05 Relisted — Smart MLS
• 2026-05-03 Contingent — Smart MLS
• 2026-04-16 Listed $509,000 Smart MLS
• 2021-02-05 Sold (Public Records) $219,000 Public Records
• 2021-02-03 Sold (MLS) $219,000 Smart MLS
• 2020-10-13 Contingent — Smart MLS
• 2020-09-30 Listed $219,000 Smart MLS
• 2003-10-30 Sold (Public Records) $110,000 Public Records
• 2001-07-03 Sold (Public Records) $55,000 Public Records

Property tax history

+6.3%/yr

Latest (2023): $5,320 · -6.4% YoY. Source: county tax records.