306 Howard Ave · New Haven, CT 06519

$599,900

9 bd · 3.0 ba · 3,588 sqft · MultiFamily public records · 3 Days on market

Built 1910 3,920 sqft lot Est $459k · 31% 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 +27.9/30.0
• DSCR +9.9/10.0
• Appreciation +9.9/10.0
• 1% rule +7.6/10.0
• 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

Large 3 family- all 4 bedroom units - fully rented for 5300$/month and full complete renovation completed in 2019

Key facts

• Natural gas heating
• Vinyl siding
• Off-street parking

Tags

• VINYL SIDING
• LAUNDRY HOOKUPS
• NATURAL GAS HEATING
• OFF-STREET PARKING
• SHARED DRIVEWAY
• PROXIMITY TO YALE UNIVERSITY

Property features AI

Exterior

• Parking: Off-street parking; 3 total parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family property (2-family); Multi-family for sale
• Construction: Frame construction; Block foundation
• Exterior features: Level lot; Vinyl siding; Flat roof; White exterior color

Interior

• Bedrooms: 12 total bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot water heating; Natural gas hot water (40-gallon tank)
• Interior features: 21 total rooms; Full, unfinished basement with hatchway and interior access
• Laundry & utility: Basement washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/1.0-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $614/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $600k).
• Cap rate 10.0% vs local median 4.5% 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); 45 active listings in the ZIP; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $7,588/mo this rent would consume 184% 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 $63k of equity ($4k loan paydown + $59k appreciation (9.8% local appreciation)).
• At projected returns (9.8% appreciation + 3.3% rent growth), your $168k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$101k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 19y ago; this cycle's ask is 22% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $490k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $599,900

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 1910 — 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: 1.26% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.15%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $459,264
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Truman St	0.55mi	9/3.0	3,630 (+1%)	1mo	$500,000	$138	72
284 Hallock Ave	0.11mi	8/4.0 (-1)	3,520 (-2%)	24mo	$550,000	$156	63
34 Cassius St	0.18mi	8/2.5 (-1)	3,744 (+4%)	17mo	$400,000	$107	63
248 - 250 Howard Ave	0.12mi	10/5.0 (+1)	3,857 (+8%)	11mo	$565,000	$146	60
8 Hurlburt St	0.28mi	9/3.0	3,314 (-8%)	18mo	$400,000	$121	59
37 Cassius St	0.20mi	8/3.0 (-1)	3,249 (-9%)	13mo	$420,000	$129	59
28 Cassius St	0.19mi	8/3.0 (-1)	3,292 (-8%)	16mo	$417,050	$127	59
56 Dewitt St	0.26mi	9/3.0	4,032 (+12%)	17mo	$475,000	$118	53
556 Howard Ave	0.48mi	9/3.0	3,276 (-9%)	20mo	$419,900	$128	47
51 Salem St	0.57mi	10/3.5 (+1)	3,940 (+10%)	8mo	$500,000	$127	43
276 Greenwich Ave	0.20mi	8/3.0 (-1)	3,055 (-15%)	21mo	$467,000	$153	43
124 Minor St	0.64mi	9/3.0	3,894 (+8%)	16mo	$400,000	$103	43

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: 33.8%
• Equity multiple: 3.61×
• Total profit: $438,594
• Equity at exit: $532,122

10-year hold

• IRR: 29.3%
• Equity multiple: 8.16×
• Total profit: $1,202,271
• Equity at exit: $1,138,806

Cash invested: $167,972 (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: 45
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $7,588 high
• Mortgage (P&I): −$3,146
• Tax from tax record: −$757 /mo · $9,088/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,593
• Net cashflow: $1,841

Break-even live

Break-even rent $5,257

Max offer price $599,900

Occupancy floor 71%

Sensitivity live

Price	-10% $2,181	-5% $2,011	+0% $1,841	+5% $1,671	+10% $1,502
Rent	-10% $1,242	-5% $1,542	+0% $1,841	+5% $2,141	+10% $2,441
Rate	-1.0pp $2,143	-0.5pp $1,994	base $1,841	+0.5pp $1,686	+1.0pp $1,528

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	1	$7,587
Total (3 units)			$7,588

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: $149,975
• Closing costs: $17,997
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $599,900 Active 3 DOM
2. 2026-06-19
   status $599,900 Active 1 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $599,900 Coming Soon 1 DOM

ⓘ 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: $9,088 · $757/mo
• Projected year-2 tax: $10,963 · $914/mo
• Expected delta: +$1,875/yr (+$156/mo · 20.6%)

ⓘ 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: $91,056
• − Mortgage interest: −$33,604
• − Property taxes: −$9,088
• − Insurance: −$3,000
• − Repairs & maintenance: −$7,284
• − Management: −$7,284
• − Depreciation: −$17,452
• Taxable income: $13,344
• Est. tax owed @ 24.0%: −$3,203
• After-tax cash flow: $18,893/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

+361.5% since first listed

31 events — show timeline

• 2026-06-17 Coming Soon $599,900 Smart MLS
• 2023-07-17 Sold (MLS) $490,000 Smart MLS
• 2023-06-07 Pending — Smart MLS
• 2023-05-22 Listed $489,900 Smart MLS
• 2020-07-22 Listing Removed — Smart MLS
• 2020-06-19 Price Changed $369,855 Smart MLS
• 2020-06-19 Listed $349,855 Smart MLS
• 2019-03-27 Sold (MLS) $90,000 Smart MLS
• 2019-03-25 Sold (Public Records) $90,000 Public Records
• 2019-02-20 Contingent — Smart MLS
• 2018-10-21 Listed $125,000 Smart MLS
• 2018-10-01 Listing Removed — Smart MLS
• 2018-07-22 Price Changed $125,000 Smart MLS
• 2018-06-27 Price Changed $149,900 Smart MLS
• 2018-04-24 Listed $159,900 Smart MLS
• 2018-01-16 Sold (MLS) $90,000 Smart MLS
• 2017-12-28 Pending — Smart MLS
• 2017-12-19 Listed $99,000 Smart MLS
• 2015-08-07 Sold (Public Records) $144,000 Public Records
• 2015-08-07 Sold (MLS) $144,000 Smart MLS
• 2015-06-26 Listing Removed — Smart MLS
• 2015-03-24 Listed $154,900 Smart MLS
• 2008-08-26 Listing Removed — Smart MLS
• 2008-06-10 Listed $252,500 Smart MLS
• 2008-02-24 Listing Removed — Smart MLS
• 2007-06-24 Listed $275,000 Smart MLS
• 2007-06-07 Listing Removed — Smart MLS
• 2007-02-08 Listed $314,000 Smart MLS
• 1998-07-29 Sold (Public Records) $25,000 Public Records
• 1998-07-29 Sold (Public Records) $25,000 Public Records
• 1989-01-23 Sold (Public Records) $130,000 Public Records

Property tax history

+8.0%/yr

Latest (2023): $9,088 · -6.4% YoY. Source: county tax records.