55 Oak Ridge Dr #60 · New Haven, CT 06513

$135,000

2 bd · 1.0 ba · 710 sqft · Condo public records · 27 Days on market

Built 1954 $227/mo HOA · 13% 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 +24.4/30.0
• 1% rule +8.1/10.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 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

Calling all investors! Second-floor ranch-style 2-bedroom, 1-bath condo located between the Foxon and Montowese neighborhoods, just minutes to major highways, shopping, downtown New Haven, the train station, and Yale New Haven Hospital. The open-concept eat-in kitchen offers granite countertops, gas stove, stainless steel appliances, and tile flooring. The living room and bedrooms feature hardwood floors, and the full bath has been tastefully updated. Private laundry and storage are available in the lower level, and this unit includes two off-street parking spaces in the driveway. Shared backyard for outdoor enjoyment. Strong-performing investment with an excellent tenant paying $1,400/month until 5/12026. No rental restrictions. Cash or non-QM financing ONLY. Land lease term was 99 years which is now approximately halfway through. Land lease payment is $235.84/mo.

Key facts

• Gas stove
• Tile flooring
• Granite countertops

Tags

• SECOND FLOOR RANCH STYLE
• OPEN CONCEPT EAT IN KITCHEN
• GRANITE COUNTERTOPS
• GAS STOVE
• STAINLESS STEEL APPLIANCES
• TILE FLOORING

Property features AI

Finance

• Other: Professionally managed off-site; Pets allowed (dogs and cats)
• HOA & community: HOA with monthly fee; Monthly association fee covers grounds maintenance, snow removal, property management and insurance; HOA fee: $227/month

Exterior

• Parking: Driveway with off-street paved parking; 2 parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Condominium on leased land; End unit in a 16-unit complex (Oakridge); Unit located on the 2nd floor
• Construction: Frame construction
• Exterior features: Aluminum siding; Lightly wooded setting; Public transportation, park and playground nearby

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms (unit on 2nd floor)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating (natural gas); Central air
• Interior features: Central air conditioning; Full, unfinished shared basement with storage
• Laundry & utility: Washer and dryer in unit (lower level laundry room); Hot water: no hot water; Heating: hot water heat using natural gas

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 2 comparable units currently listed for rent nearby; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• This rent runs 44% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 59% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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: 1.31% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.67%
• DSCR: 1.39
• GRM: 6.3

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,309
• Equity at exit: $20,129

10-year hold

• IRR: 9.5%
• Equity multiple: 1.78×
• Total profit: $29,466
• Equity at exit: $11,672

Cash invested: $37,800 (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 06513

• Home prices YoY: -7.8%
• Rents YoY: 4.1%
• Active inventory: 101
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,772 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$136 /mo · $1,628/yr
• Insurance: −$56
• HOA: −$227
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $273

Break-even live

Break-even rent $1,426

Max offer price $135,000

Occupancy floor 80%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 Eastern St New Haven, CT	1.0–3.0	1.0–1.5	900	$1,832	$2.04	3d	2	1.16mi
339 Eastern St New Haven, CT	2.0	1.0	505	$1,600	$3.17	44d	6	1.40mi

HOA detail condo

• Monthly dues: $227 · $2,724/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $135,000 Active 27 DOM
2. 2026-06-17
   days on market $135,000 Active 26 DOM
3. 2026-06-16
   days on market $135,000 Active 25 DOM
4. 2026-06-15
   days on market $135,000 Active 24 DOM
5. 2026-06-14
   days on market $135,000 Active 22 DOM
6. 2026-06-13
   days on market $135,000 Active 21 DOM
7. 2026-06-10
   days on market $135,000 Active 19 DOM
8. 2026-06-09
   days on market $135,000 Active 18 DOM
9. 2026-06-08
   days on market $135,000 Active 17 DOM
10. 2026-06-07
    days on market $135,000 Active 16 DOM
11. 2026-06-05
    days on market $135,000 Active 13 DOM
12. 2026-06-03
    days on market $135,000 Active 12 DOM
13. 2026-06-03
    days on market $135,000 Active 11 DOM
14. 2026-06-01
    days on market $135,000 Active 10 DOM
15. 2026-05-31
    days on market $135,000 Active 9 DOM
16. 2026-05-22
    listed $135,000 Active
17. 2025-09-23
    soldstatus $133,000 Closed 877-char remark

    Show marketing remark (877 chars)

    Calling all investors! Second-floor ranch-style 2-bedroom, 1-bath condo located between the Foxon and Montowese neighborhoods, just minutes to major highways, shopping, downtown New Haven, the train station, and Yale New Haven Hospital. The open-concept eat-in kitchen offers granite countertops, gas stove, stainless steel appliances, and tile flooring. The living room and bedrooms feature hardwood floors, and the full bath has been tastefully updated. Private laundry and storage are available in the lower level, and this unit includes two off-street parking spaces in the driveway. Shared backyard for outdoor enjoyment. Strong-performing investment with an excellent tenant paying $1,400/month until 5/12026. No rental restrictions. Cash or non-QM financing ONLY. Land lease term was 99 years which is now approximately halfway through. Land lease payment is $235.84/mo.

18. 2025-08-27
    status Under Contract 877-char remark

    Show marketing remark (877 chars)

    Calling all investors! Second-floor ranch-style 2-bedroom, 1-bath condo located between the Foxon and Montowese neighborhoods, just minutes to major highways, shopping, downtown New Haven, the train station, and Yale New Haven Hospital. The open-concept eat-in kitchen offers granite countertops, gas stove, stainless steel appliances, and tile flooring. The living room and bedrooms feature hardwood floors, and the full bath has been tastefully updated. Private laundry and storage are available in the lower level, and this unit includes two off-street parking spaces in the driveway. Shared backyard for outdoor enjoyment. Strong-performing investment with an excellent tenant paying $1,400/month until 5/12026. No rental restrictions. Cash or non-QM financing ONLY. Land lease term was 99 years which is now approximately halfway through. Land lease payment is $235.84/mo.

19. 2025-08-08
    listed $127,000 Active 877-char remark

    Show marketing remark (877 chars)

    Calling all investors! Second-floor ranch-style 2-bedroom, 1-bath condo located between the Foxon and Montowese neighborhoods, just minutes to major highways, shopping, downtown New Haven, the train station, and Yale New Haven Hospital. The open-concept eat-in kitchen offers granite countertops, gas stove, stainless steel appliances, and tile flooring. The living room and bedrooms feature hardwood floors, and the full bath has been tastefully updated. Private laundry and storage are available in the lower level, and this unit includes two off-street parking spaces in the driveway. Shared backyard for outdoor enjoyment. Strong-performing investment with an excellent tenant paying $1,400/month until 5/12026. No rental restrictions. Cash or non-QM financing ONLY. Land lease term was 99 years which is now approximately halfway through. Land lease payment is $235.84/mo.

20. 2021-12-10
    soldstatus $78,000 Closed 887-char remark

    Show marketing remark (887 chars)

    Renovated second floor ranch style two bedroom, one bath condo located on a cul-de-sac and just a short drive to major highways and downtown New Haven. This unit features great light and hardwood flooring throughout. There is a newly renovated eat-in-kitchen with granite countertops and comes complete with a gas stove, stainless steel dishwasher, refrigerator and a built in microwave. The bathroom was recently renovated and has a spa like feel. Private laundry and storage is in the lower level and as an added bonus, this is one of the few units that comes with 2 off street parking spaces! Enjoy the outdoors in the shared backyard, with plenty of room to explore! This complex is located just minutes to major highways, shopping, downtown New Haven, the train station and Yale New Haven Hospital! A very affordable and convenient option. No rental restrictions, open to investors.

21. 2021-11-11
    historical Under Contract - Continue to Show 887-char remark

    Show marketing remark (887 chars)

    Renovated second floor ranch style two bedroom, one bath condo located on a cul-de-sac and just a short drive to major highways and downtown New Haven. This unit features great light and hardwood flooring throughout. There is a newly renovated eat-in-kitchen with granite countertops and comes complete with a gas stove, stainless steel dishwasher, refrigerator and a built in microwave. The bathroom was recently renovated and has a spa like feel. Private laundry and storage is in the lower level and as an added bonus, this is one of the few units that comes with 2 off street parking spaces! Enjoy the outdoors in the shared backyard, with plenty of room to explore! This complex is located just minutes to major highways, shopping, downtown New Haven, the train station and Yale New Haven Hospital! A very affordable and convenient option. No rental restrictions, open to investors.

22. 2021-10-29
    listed $75,000 Active 887-char remark

    Show marketing remark (887 chars)

    Renovated second floor ranch style two bedroom, one bath condo located on a cul-de-sac and just a short drive to major highways and downtown New Haven. This unit features great light and hardwood flooring throughout. There is a newly renovated eat-in-kitchen with granite countertops and comes complete with a gas stove, stainless steel dishwasher, refrigerator and a built in microwave. The bathroom was recently renovated and has a spa like feel. Private laundry and storage is in the lower level and as an added bonus, this is one of the few units that comes with 2 off street parking spaces! Enjoy the outdoors in the shared backyard, with plenty of room to explore! This complex is located just minutes to major highways, shopping, downtown New Haven, the train station and Yale New Haven Hospital! A very affordable and convenient option. No rental restrictions, open to investors.

23. 2005-12-19
    soldstatus $65,000
24. 2002-07-23
    soldstatus $24,000
25. 2002-05-16
    listed $29,900

ⓘ 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: $1,628 · $136/mo
• Projected year-2 tax: $2,258 · $188/mo
• Expected delta: +$630/yr (+$53/mo · 38.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $21,267
• − Mortgage interest: −$7,562
• − Property taxes: −$1,628
• − Insurance: −$675
• − Repairs & maintenance: −$1,701
• − Management: −$1,701
• − HOA: −$2,724
• − Depreciation: −$3,927
• Taxable income: $1,348
• Est. tax owed @ 24.0%: −$324
• After-tax cash flow: $2,955/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

+351.5% since first listed

10 events — show timeline

• 2026-05-22 Listed $135,000 Smart MLS
• 2025-09-23 Sold (MLS) $133,000 Smart MLS
• 2025-08-27 Pending — Smart MLS
• 2025-08-08 Listed $127,000 Smart MLS
• 2021-12-10 Sold (MLS) $78,000 Smart MLS
• 2021-11-11 Contingent — Smart MLS
• 2021-10-29 Listed $75,000 Smart MLS
• 2005-12-19 Sold (Public Records) $65,000 Public Records
• 2002-07-23 Sold (MLS) $24,000 Smart MLS
• 2002-05-16 Listed $29,900 Smart MLS

Property tax history

+4.9%/yr

Latest (2023): $1,628 · -6.4% YoY. Source: county tax records.