1425 Quinnipiac Ave #304 · New Haven, CT 06513

$140,000

2 bd · 1.0 ba · 1,061 sqft · Condo public records · 7 Days on market

Built 1990 $390/mo HOA · 20% of rent

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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 +21.0/30.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 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

Listing remarks MLS

1st floor spacious ranch with private entrance, no steps into unit. Kitchen has been remodeled with newer appliances and granite counters. Large living room/dining area laminate flooring with french doors out to deck overlooking the woods. Master bedroom is a generous size with wall to wall carpet. 2nd bedroom has walk in closet. Neutral paint colors throughout.

Key facts

• Covered balcony
• Updated flooring
• Single-level living

Tags

• COVERED BALCONY
• UPDATED FLOORING
• IN-UNIT WASHER AND DRYER
• GENEROUS CLOSET SPACE
• SINGLE-LEVEL LIVING

Property features AI

Finance

• Other: Pets allowed (dogs permitted)
• HOA & community: Homeowners association with a $390 monthly fee; HOA covers grounds maintenance, trash pickup, property management, pest control, and road maintenance

Exterior

• Utilities: Public water connected; Public sewer connected; Gas available in street
• Home design: Condominium (Condo/Co-Op for sale); Located in the Hidden Quarry complex; Single-level unit
• Construction: Frame construction
• Exterior features: Vertical siding; Level lot

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Central air conditioning; 30-gallon hot water tank
• Interior features: Central air conditioning; In-unit laundry
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.0% 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; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $1,938/mo this rent would consume 48% 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 $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y 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 $80k; list at $140k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $140,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.38% ✓
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.12% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-7,694
• Equity at exit: $20,874

10-year hold

• IRR: 6.3%
• Equity multiple: 1.50×
• Total profit: $19,738
• Equity at exit: $12,105

Cash invested: $39,200 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,938 high
• Mortgage (P&I): −$734
• Tax from tax record: −$152 /mo · $1,818/yr
• Insurance: −$58
• HOA: −$390
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $197

Break-even live

Break-even rent $1,689

Max offer price $140,000

Occupancy floor 85%

Sensitivity live

Price	-10% $276	-5% $236	+0% $197	+5% $157	+10% $117
Rent	-10% $44	-5% $120	+0% $197	+5% $273	+10% $350
Rate	-1.0pp $267	-0.5pp $232	base $197	+0.5pp $160	+1.0pp $124

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1425 Quinnipiac Ave #302 New Haven, CT	2.0	1.5	1212	$2,000	$1.65	19d	1	0.02mi
1425 Quinnipiac Ave #112 New Haven, CT	2.0	1.5	1212	$2,000	$1.65	44d	1	0.02mi
1314 Quinnipiac Ave New Haven, CT	2.0–3.0	1.0	1150	$1,695	$1.47	4d	8	0.22mi
5 Assumption St New Haven, CT	3.0	1.0	816	$2,750	$3.37	3d	1	0.25mi
95 Weybosset St Unit 3 New Haven, CT	2.0	1.0	800	$1,800	$2.25	44d	1	0.35mi
430 Eastern St New Haven, CT	1.0–3.0	1.0–1.5	900	$1,832	$2.04	3d	2	0.43mi
631 Middletown Ave New Haven, CT	2.0	1.0	932	$1,775	$1.90	45d	1	0.52mi
59 Foxon Blvd East Haven, CT	1.0	2.0	840	$1,850	$2.20	15d	1	0.53mi
339 Eastern St New Haven, CT	2.0	1.0	505	$1,600	$3.17	44d	6	0.69mi
232 Glen Haven Rd New Haven, CT	2.0	1.0	900	$1,850	$2.06	15d	1	0.89mi
918 Quinnipiac Ave #7 New Haven, CT	2.0	2.0	1361	$2,500	$1.84	3d	1	0.95mi
80 New Haven, CT	2.0	1.0	850	$1,900	$2.24	4d	2	1.09mi
318 Front St Unit one New Haven, CT	3.0	1.5	1400	$3,100	$2.21	22d	1	1.12mi
75 Redwood Dr #708 East Haven, CT	2.0	2.0	1265	$2,500	$1.98	3d	1	1.18mi
110 Maltby St New Haven, CT	1.0	1.0	760	$1,550	$2.04	15d	1	1.19mi
57 Maltby St Unit 2nd Front New Haven, CT	2.0	1.0	800	$1,395	$1.74	4d	1	1.21mi
153 Dover St Unit D New Haven, CT	2.0	1.0	888	$1,750	$1.97	44d	1	1.28mi
153 Dover St New Haven, CT	2.0	1.0	888	$1,750	$1.97	24d	1	1.28mi
153 Dover St New Haven, CT	2.0	1.0	888	$1,800	$2.03	12d	1	1.28mi
1397 State St Unit 6 New Haven, CT	2.0	1.5	1000	$1,695	$1.70	44d	1	1.38mi
1399 State St Unit 5B New Haven, CT	1.0	1.0	700	$1,595	$2.28	44d	1	1.38mi
122 Atwater St New Haven, CT	3.0	1.0	1274	$2,300	$1.81	4d	1	1.40mi
122 Atwater St Unit 3 New Haven, CT	2.0	1.0	1300	$1,980	$1.52	4d	1	1.40mi
651 Quinnipiac Ave Unit 2 New Haven, CT	3.0	1.0	1355	$1,975	$1.46	44d	1	1.43mi
1730 State St #312 Hamden, CT	1.0	1.0	790	$1,350	$1.71	3d	1	1.49mi
1730 State St Hamden, CT	1.0	1.0	790	$1,400	$1.77	19d	1	1.49mi

HOA detail condo

• Monthly dues: $390 · $4,680/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-18
   days on market $140,000 Active 7 DOM
2. 2026-06-17
   days on market $140,000 Active 6 DOM
3. 2026-06-16
   days on market $140,000 Active 5 DOM
4. 2026-06-15
   days on market $140,000 Active 4 DOM
5. 2026-06-14
   days on market $140,000 Active 2 DOM
6. 2026-06-13
   remarks 694-char remark
7. 2026-06-13
   listed $140,000 Active 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: $1,818 · $152/mo
• Projected year-2 tax: $2,407 · $201/mo
• Expected delta: +$589/yr (+$49/mo · 32.4%)

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

Taxation est. · year 1

• Rental income: $23,252
• − Mortgage interest: −$7,842
• − Property taxes: −$1,818
• − Insurance: −$700
• − Repairs & maintenance: −$1,860
• − Management: −$1,860
• − HOA: −$4,680
• − Depreciation: −$4,073
• Taxable income: $419
• Est. tax owed @ 24.0%: −$100
• After-tax cash flow: $2,260/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

+103.2% since first listed

14 events — show timeline

• 2026-06-12 Listed $140,000 Smart MLS
• 2020-11-18 Sold (Public Records) $80,000 Public Records
• 2020-11-06 Sold (MLS) $80,000 Smart MLS
• 2020-09-28 Contingent — Smart MLS
• 2020-09-27 Listed $80,000 Smart MLS
• 2017-04-21 Sold (MLS) $45,100 Smart MLS
• 2017-03-10 Listed $45,000 Smart MLS
• 2013-09-30 Listing Removed — Smart MLS
• 2012-08-31 Listed $75,000 Smart MLS
• 2008-07-14 Sold (Public Records) $129,900 Public Records
• 2008-07-11 Sold (MLS) $129,900 Smart MLS
• 2007-10-08 Listed $129,900 Smart MLS
• 2002-06-26 Sold (Public Records) $72,000 Public Records
• 1994-03-15 Sold (Public Records) $68,900 Public Records

Property tax history

+0.7%/yr

Latest (2023): $1,818 · -6.4% YoY. Source: county tax records.