147 Lamberton St · New Haven, CT 06511

$450,000

6 bd · 3.0 ba · 2,491 sqft · MultiFamily public records · 70 Days on market

Built 1900 4,356 sqft lot $181/sqft · 18% above area Est $381k · 18% 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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• 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 MLS

Remodeled apartment new kitchen, baths, painting. Newer furnaces, Second and third floor apartment has 4 bedrooms and 2 baths. Ready for live-in with income or rental. good investment .1 car oversized garage for extra income. new windows. First Fl.Rented for $1400 potential rent of $2,200 on the second and third floor, Electric plus gas Heat system on the third floor.

Key facts

• Remodeled apartment
• New kitchen
• New baths

Tags

• REMODELED APARTMENT
• NEW KITCHEN
• NEW BATHS
• NEWER FURNACES
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $450k).
• Recommended offer: $423k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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 (+2.6%/yr); 137 active listings in the ZIP; 7 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 $5,827/mo this rent would consume 117% of the median local household income ($60k/yr) (locally 4999% 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 $14k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $126k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($423k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y 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 $142k; list at $450k implies a 217% 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: moderate flood risk; major wind risk, 55% 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 $423,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.29% ✓
• Cap rate: 10.57%
• Cash-on-cash: 15.27%
• DSCR: 1.68
• GRM: 6.4

CMA / ARV

• ARV (median comp): $381,391
• List price: $450,000
• Delta: 17.99%
• 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
20-22 Hurlburt St	0.05mi	6/3.0	2,429 (-2%)	0mo	$362,500	$149	93
121 Plymouth St	0.16mi	5/2.0 (-1)	2,539 (+2%)	10mo	$355,000	$140	72
109 Hurlburt St	0.23mi	6/3.0	2,677 (+8%)	9mo	$290,000	$108	69
11 White St	0.51mi	6/3.0	2,502 (+0%)	10mo	$445,000	$178	67
95 Frank St	0.36mi	6/3.0	2,243 (-10%)	2mo	$385,000	$172	65
222 Howard Ave	0.41mi	5/3.0 (-1)	2,311 (-7%)	11mo	$470,000	$203	55
45 Frank St	0.42mi	6/3.0	2,120 (-15%)	4mo	$430,000	$203	52
28 Frank St	0.43mi	7/2.0 (+1)	2,282 (-8%)	8mo	$330,000	$145	51
312 Davenport Ave	0.71mi	6/2.0	2,348 (-6%)	6mo	$312,000	$133	48
44 Lambert St	0.62mi	6/3.0	2,256 (-9%)	11mo	$460,000	$204	46
63 Sea St	0.70mi	5/3.0 (-1)	2,842 (+14%)	0mo	$675,000	$238	38
45 Kossuth St	0.73mi	6/3.0	2,153 (-14%)	11mo	$425,000	$197	34

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 · 2.6% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.21×
• Total profit: $26,881
• Equity at exit: $67,096

10-year hold

• IRR: 14.6%
• Equity multiple: 2.15×
• Total profit: $145,473
• Equity at exit: $38,908

Cash invested: $126,000 (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 06511

• Home prices YoY: -20.8%
• Rents YoY: 2.6%
• Active inventory: 137
• Price-to-rent: 19.3×

Monthly cashflow live

• Estimated rent: $5,827 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$453 /mo · $5,432/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,224
• Net cashflow: $1,603

Break-even live

Break-even rent $3,797

Max offer price $450,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,858	-5% $1,731	+0% $1,603	+5% $1,476	+10% $1,349
Rent	-10% $1,143	-5% $1,373	+0% $1,603	+5% $1,833	+10% $2,064
Rate	-1.0pp $1,830	-0.5pp $1,718	base $1,603	+0.5pp $1,487	+1.0pp $1,368

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,826
Total (3 units)			$5,827

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 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	44d	1	0.33mi
37 Center St Unit 2 West Haven, CT	5.0	2.0	2500	$3,300	$1.32	3d	1	0.93mi
395 Crown St New Haven, CT	6.0	3.5	2889	$7,195	$2.49	44d	1	1.22mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3000	$6,250	$2.08	15d	1	1.26mi
131 Dwight St Unit 1 New Haven, CT	6.0	3.0	3097	$6,250	$2.02	24d	1	1.26mi
67 Edgewood Ave New Haven, CT	7.0	2.5	2000	$6,100	$3.05	44d	1	1.39mi
229 Dwight St New Haven, CT	6.0	2.0	2400	$4,995	$2.08	3d	1	1.43mi

Listing history 30 events

1. 2026-06-18
   days on market $450,000 Active 70 DOM
2. 2026-06-17
   days on market $450,000 Active 69 DOM
3. 2026-06-16
   days on market $450,000 Active 68 DOM
4. 2026-06-15
   days on market $450,000 Active 67 DOM
5. 2026-06-14
   days on market $450,000 Active 65 DOM
6. 2026-06-13
   days on market $450,000 Active 64 DOM
7. 2026-06-10
   days on market $450,000 Active 62 DOM
8. 2026-06-09
   days on market $450,000 Active 61 DOM
9. 2026-06-08
   pricedays on market $450,000 Active 60 DOM
10. 2026-06-07
    days on market $467,000 Active 59 DOM
11. 2026-06-05
    days on market $467,000 Active 56 DOM
12. 2026-06-03
    days on market $467,000 Active 55 DOM
13. 2026-06-03
    days on market $467,000 Active 54 DOM
14. 2026-06-01
    days on market $467,000 Active 53 DOM
15. 2026-05-31
    days on market $467,000 Active 52 DOM
16. 2026-04-09
    listed $467,000 Active 370-char remark

    Show marketing remark (370 chars)

    Remodeled apartment new kitchen, baths, painting. Newer furnaces, Second and third floor apartment has 4 bedrooms and 2 baths. Ready for live-in with income or rental. good investment .1 car oversized garage for extra income. new windows. First Fl.Rented for $1400 potential rent of $2,200 on the second and third floor, Electric plus gas Heat system on the third floor.

17. 2009-07-01
    soldstatus $142,000 346-char remark

    Show marketing remark (346 chars)

    Remodeled apartments, new kitchens, baths, painting etc. Newer furnaces s, second and third floor apartment has 4 bedrooms and 2 baths. Ready for live-in with income or rental. Good investment. 1 Car oversized garage for extra income. New windows. Potenial rent is $930 on the first and $1,395 on the second floor, electic heat on the third floor

18. 2009-07-01
    soldstatus $142,000

    Show marketing remark (346 chars)

    Remodeled apartments, new kitchens, baths, painting etc. Newer furnaces s, second and third floor apartment has 4 bedrooms and 2 baths. Ready for live-in with income or rental. Good investment. 1 Car oversized garage for extra income. New windows. Potenial rent is $930 on the first and $1,395 on the second floor, electic heat on the third floor

19. 2009-01-02
    listed $144,900 346-char remark

    Show marketing remark (346 chars)

    Remodeled apartments, new kitchens, baths, painting etc. Newer furnaces s, second and third floor apartment has 4 bedrooms and 2 baths. Ready for live-in with income or rental. Good investment. 1 Car oversized garage for extra income. New windows. Potenial rent is $930 on the first and $1,395 on the second floor, electic heat on the third floor

20. 2008-10-01
    soldstatus $68,000
21. 2008-05-15
    listed $64,900
22. 2008-05-09
    historical
23. 2007-06-21
    listed $169,900
24. 2005-02-18
    soldstatus $183,000
25. 2005-02-17
    soldstatus $183,000
26. 2004-12-10
    listed $184,000
27. 2003-08-26
    soldstatus $135,000
28. 2003-08-26
    soldstatus $135,000
29. 2003-04-28
    listed $135,000
30. 1987-09-04
    soldstatus $110,500

ⓘ 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: $5,432 · $453/mo
• Projected year-2 tax: $7,531 · $628/mo
• Expected delta: +$2,099/yr (+$175/mo · 38.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% 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 55% 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: $69,924
• − Mortgage interest: −$25,207
• − Property taxes: −$5,432
• − Insurance: −$2,250
• − Repairs & maintenance: −$5,594
• − Management: −$5,594
• − Depreciation: −$13,091
• Taxable income: $12,756
• Est. tax owed @ 24.0%: −$3,062
• After-tax cash flow: $16,178/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): 54,730
• Household income: $59,969
• Rent vs Own: 80.3% rent · 19.7% own
• Severe rent burden: 4999.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Black 34% White 32% Hispanic / Latino 21% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 1% Russian 1%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 74% English-only · Spanish 15% Chinese 3% Other Indo-European 2%

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: ▼ -86.05%
• Current HPI: 328.1353
• Rent YoY: ▲ 2.60%
• 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

+322.6% since first listed

15 events — show timeline

• 2026-04-09 Listed $467,000 Smart MLS
• 2009-07-01 Sold (Public Records) $142,000 Public Records
• 2009-07-01 Sold (MLS) $142,000 Smart MLS
• 2009-01-02 Listed $144,900 Smart MLS
• 2008-10-01 Sold (MLS) $68,000 Smart MLS
• 2008-05-15 Listed $64,900 Smart MLS
• 2008-05-09 Listing Removed — Smart MLS
• 2007-06-21 Listed $169,900 Smart MLS
• 2005-02-18 Sold (Public Records) $183,000 Public Records
• 2005-02-17 Sold (MLS) $183,000 Smart MLS
• 2004-12-10 Listed $184,000 Smart MLS
• 2003-08-26 Sold (Public Records) $135,000 Public Records
• 2003-08-26 Sold (MLS) $135,000 Smart MLS
• 2003-04-28 Listed $135,000 Smart MLS
• 1987-09-04 Sold (Public Records) $110,500 Public Records

Property tax history

+5.9%/yr

Latest (2023): $5,432 · -6.4% YoY. Source: county tax records.