175 Mill Pond Rd #346 · Hamden, CT 06514

$185,000

2 bd · 1.5 ba · 977 sqft · Condo public records · 54 Days on market

Built 1985 $495/mo HOA · 23% of rent

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Why this score? — see what drove the D- 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 +9.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Rent growth +3.7/5.0
• Schools +3.3/10.0
• DSCR +2.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Refreshly painted wall to wall. Move-in ready and well-maintained! This 2-bedroom, 1.5-bath condo offers a bright, open-concept living and dining area with private deck access-perfect for relaxing. Storage & Parking: Enjoy generous closet space throughout, plus a covered carport and an additional assigned parking spot. Convenience: Monthly fees include hot/cold water and access to the community in-ground pool. Prime Location: Minutes from Yale, Quinnipiac U, Hamden Hall Country Day School, major highways, shopping, and local amenities. Property taxes reflect the full post-revaluation tax; however, the Town of Hamden is currently implementing a 4-year phase-in, offering the occupant a

Key facts

• Covered carport
• Private deck access
• Open-concept living

Tags

• OPEN-CONCEPT LIVING
• PRIVATE DECK ACCESS
• GENEROUS CLOSET SPACE
• COVERED CARPORT
• ASSIGNED PARKING SPOT
• COMMUNITY IN-GROUND POOL

Property features AI

Finance

• Financial info: Pets allowed (small dogs under 20 inches)
• HOA & community: Homeowners association with monthly fee; HOA fee: $495 monthly; HOA covers grounds maintenance, trash pickup, snow removal, hot water, water, sewer, property management, and pool service; Complex contains 108 total units

Exterior

• Parking: Under-house garage with 1 assigned garage space; 2 total parking spaces
• Utilities: Public water connected; Public sewer connected; Hot water: Other
• Home design: Condominium in a multi-unit complex (Mill Pond Village); Condo/Co-op for sale
• Construction: Frame construction
• Exterior features: Aluminum siding; Level lot; In-ground swimming pool (community)

Interior

• Kitchen: Electric cooktop; Oven/range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Heat pump heating and cooling; Electric heat fuel
• Interior features: Three-level unit; Total of 4 rooms; No basement
• Laundry & utility: Common coin-operated laundry area; Heat pump provides heating and cooling

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (11.2% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $164k (11.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Hamden School District (suburban): math 30% / reading 43% proficiency, ranked #106 of 153 in CT (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hamden Middle School (math 27% / reading 43%, grade F, #123 of 175 statewide, top 70%, 811 students, 40% FRL); Hamden High School (math 21% / reading 44%, grade F, #125 of 194 statewide, top 66%, 1,672 students, 39% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 104 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $68k; list at $185k implies a 172% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,284 (11.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.16% ✓
• Cap rate: 5.53%
• Cash-on-cash: -2.72%
• DSCR: 0.88
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.61% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.35×
• Total profit: $-33,561
• Equity at exit: $27,584

10-year hold

• IRR: -6.1%
• Equity multiple: 0.57×
• Total profit: $-22,429
• Equity at exit: $15,995

Cash invested: $51,800 (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 06514

• Rents YoY: 4.6%
• Active inventory: 104
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,143 high
• Mortgage (P&I): −$970
• Tax from tax record: −$268 /mo · $3,213/yr
• Insurance: −$77
• HOA: −$495
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $-117

Break-even live

Break-even rent $2,291

Max offer price $164,284

Occupancy floor —

Sensitivity live

Price	-10% $-13	-5% $-65	+0% $-117	+5% $-170	+10% $-222
Rent	-10% $-287	-5% $-202	+0% $-117	+5% $-33	+10% $52
Rate	-1.0pp $-24	-0.5pp $-70	base $-117	+0.5pp $-165	+1.0pp $-214

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
175 Mill Pond Rd #102 Hamden, CT	2.0	1.5	900	$1,900	$2.11	5d	1	0.04mi
175 Mill Pond Rd #324 Hamden, CT	2.0	1.5	977	$1,900	$1.94	21d	1	0.04mi
100 Town Walk Dr Hamden, CT	1.0–3.0	1.0–2.0	1064	$2,464	$2.32	4d	36	0.21mi
1800 Aspen Glen Dr Hamden, CT	1.0–2.0	1.0–2.0	997	$2,705	$2.71	4d	5	0.40mi
69 Rentell Rd Hamden, CT	2.0	1.0	1008	$2,900	$2.88	4d	1	0.45mi
2 Skiff St Hamden, CT	1.0–2.0	1.0	928	$2,045	$2.20	4d	3	0.75mi
925 Mix Ave Hamden, CT	2.0	1.0–1.5	830	$3,025	$3.64	4d	3	0.75mi
905 Mix Ave Hamden, CT	1.0	1.0	836	$1,850	$2.21	46d	4	0.82mi
2405 Whitney Ave Hamden, CT	2.0	1.5	930	$2,225	$2.39	46d	1	0.82mi
165 Towne House Rd Unit 165 Hamden, CT	1.0	1.0	631	$1,650	$2.61	45d	1	0.86mi
865 Mix Ave Hamden, CT	1.0–2.0	1.0–2.0	1028	$2,645	$2.57	4d	5	0.88mi
835 E Mix Ave Unit 6413 Hamden, CT	1.0	1.0	850	$1,900	$2.24	45d	1	0.94mi
75 Washington Ave Hamden, CT	1.0	1.0	677	$1,600	$2.36	4d	2	1.04mi
75 Washington Ave Unit 2-317 Hamden, CT	2.0	2.0	992	$1,950	$1.97	45d	1	1.04mi
720 Mix Ave #303 Hamden, CT	2.0	2.0	956	$2,200	$2.30	4d	1	1.11mi
676 Mix Ave Hamden, CT	2.0	1.0–2.0	810	$2,200	$2.72	4d	1	1.28mi
1 Kaye Plz Hamden, CT	1.0	1.0	660	$1,750	$2.65	4d	1	1.29mi

HOA detail condo

• Monthly dues: $495 · $5,940/yr
• Likely covers: waterpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $185,000 Active 54 DOM
2. 2026-06-18
   days on market $185,000 Active 51 DOM
3. 2026-06-17
   days on market $185,000 Active 50 DOM
4. 2026-06-16
   days on market $185,000 Active 49 DOM
5. 2026-06-15
   days on market $185,000 Active 48 DOM
6. 2026-06-14
   days on market $185,000 Active 46 DOM
7. 2026-06-13
   days on market $185,000 Active 45 DOM
8. 2026-06-10
   days on market $185,000 Active 43 DOM
9. 2026-06-09
   days on market $185,000 Active 42 DOM
10. 2026-06-08
    days on market $185,000 Active 41 DOM
11. 2026-06-07
    days on market $185,000 Active 40 DOM
12. 2026-06-05
    days on market $185,000 Active 37 DOM
13. 2026-06-03
    days on market $185,000 Active 36 DOM
14. 2026-06-03
    days on market $185,000 Active 35 DOM
15. 2026-06-01
    days on market $185,000 Active 34 DOM
16. 2026-05-31
    days on market $185,000 Active 33 DOM
17. 2026-05-23
    status Active
18. 2026-05-23
    price $185,000
19. 2026-04-20
    historical
20. 2026-03-26
    listed $188,000 Active
21. 2016-12-16
    soldstatus $68,000

ⓘ 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: $3,213 · $268/mo
• Projected year-2 tax: $3,586 · $299/mo
• Expected delta: +$373/yr (+$31/mo · 11.6%)

ⓘ 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 6/10 Major 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,712
• − Mortgage interest: −$10,363
• − Property taxes: −$3,213
• − Insurance: −$925
• − Repairs & maintenance: −$2,057
• − Management: −$2,057
• − HOA: −$5,940
• − Depreciation: −$5,382
• Taxable loss: −$4,224
• Est. tax savings @ 24.0%: +$1,014
• After-tax cash flow: $-393/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: Hamden School District
• NCES district ID: 0901860
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $68,821
• Composite: 33.34/100
• National rank: #5490
• State rank: #106 of 153 in CT

Livability — Hamden

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: New Haven County · 688,236 people
• City population: 61,150
• Metro: New Haven-Milford, CT
• Population (ZIP): 26,803
• Household income: $88,900
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1228.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 43% Black 33% Hispanic / Latino 16% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Dominican 2%
• Common ancestry: Romanian 5% German 2% Lithuanian 2%
• Foreign-born: 15% · Canada, Jamaica, China
• Languages at home: 80% English-only · Spanish 10% Arabic 2% Other Indo-European 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: ▼ -222.59%
• Current HPI: 251.556
• Rent YoY: ▲ 4.61%
• 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

+172.1% since first listed

5 events — show timeline

• 2026-05-23 Relisted — Smart MLS
• 2026-05-23 Price Changed $185,000 Smart MLS
• 2026-04-20 Listing Removed — Smart MLS
• 2026-03-26 Listed $188,000 Smart MLS
• 2016-12-16 Sold (Public Records) $68,000 Public Records

Property tax history

+1.7%/yr

Latest (2023): $3,213 · +1.6% YoY. Source: county tax records.