365 Mather St #61 · Hamden, CT 06514

$130,000

1 bd · 1.0 ba · 800 sqft · Condo public records · 32 Days on market

Built 1986 $162/sqft · 28% below area Est $180k · 28% under $355/mo HOA · 18% of rent

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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 +23.5/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +7.6/10.0
• Rent growth +3.7/5.0
• Schools +3.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Incredible potential in this one bedroom, one bath corner end unit condo in desirable Lake Whitney Glen in Hamden. This unit features a private balcony with water views, an ideal setting for morning coffee or evening relaxation. This AS-IS sale presents a great opportunity for investors or buyers looking to renovate and add value. Additional highlights include in-unit washer and dryer, one assigned parking spot, visitor parking for residents plus visitors, plus a dedicated storage unit in the building's basement. Perfectly located just steps from the Farmington Canal Trail and minutes to shopping, dining, and vibrant downtown New Haven. Convenient to Quinnipiac, Southern Connecticut State U

Key facts

• Minutes to dining
• Water views
• Private balcony

Tags

• PRIVATE BALCONY
• WATER VIEWS
• IN-UNIT WASHER AND DRYER
• DEDICATED STORAGE UNIT
• MINUTES TO SHOPPING
• MINUTES TO DINING

Property features AI

Finance

• Financial info: Professional off-site property management; Pets allowed with restrictions
• HOA & community: Homeowners association with monthly fee; HOA fee includes grounds maintenance, trash pickup, snow removal, water, sewer, property management and insurance

Exterior

• Parking: Assigned parking space in parking lot (1 total space)
• Utilities: Public water connected; Public sewer connected
• Home design: Condominium in Lake Whitney Glen; Condo/Co-op for sale; End unit; Unit located on floor 1
• Construction: Frame construction
• Exterior features: Brick siding; Balcony; Level lot with water view

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: 1 bedroom (on main level)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Hot air heat (natural gas); Natural gas hot water
• Interior features: 3 total rooms; One-level unit; No basement
• Laundry & utility: Washer and dryer on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — 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: Shepherd Glen School (math 27% / reading 42%, grade F, #340 of 553 statewide, top 63%, 288 students, 56% 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); 107 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 63% 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 $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.56% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.99%
• DSCR: 1.36
• GRM: 5.4

CMA / ARV

• ARV (median comp): $179,580
• List price: $130,000
• Delta: -27.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-6,192
• Equity at exit: $19,383

10-year hold

• IRR: 8.0%
• Equity multiple: 1.67×
• Total profit: $24,564
• Equity at exit: $11,240

Cash invested: $36,400 (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: 107
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,022 high
• Mortgage (P&I): −$682
• Tax from tax record: −$264 /mo · $3,169/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$355
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $176

Break-even live

Break-even rent $1,799

Max offer price $130,000

Occupancy floor 86%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
365 Mather St #43 Hamden, CT	2.0	2.0	1100	$2,250	$2.05	3d	1	0.03mi
380 Mather St Hamden, CT	2.0	1.0–2.0	867	$2,635	$3.04	44d	16	0.09mi
414 Mather St Unit 2D Hamden, CT	1.0	1.0	830	$2,000	$2.41	3d	1	0.11mi
414 Mather St Unit 2D Hamden, CT	1.0	1.0	830	$2,000	$2.41	11d	1	0.11mi
1901 Dixwell Ave Hamden, CT	2.0	1.0	660	$1,550	$2.35	3d	1	0.32mi
5 Manila Ave Apt 6 Hamden, CT	1.0	1.0	620	$1,600	$2.58	44d	1	0.60mi
98 Kaye Vue Dr Hamden, CT	2.0	1.0	930	$1,995	$2.15	21d	1	0.61mi
1572 Whitney Ave Hamden, CT	1.0	1.0	725	$2,000	$2.76	23d	1	0.64mi
97 Beacon St Unit 3rd fl Hamden, CT	2.0	1.0	1100	$1,850	$1.68	3d	1	0.76mi
1 Kaye Plz Hamden, CT	1.0	1.0	660	$1,750	$2.65	3d	1	0.76mi
676 Mix Ave Hamden, CT	2.0	1.0–2.0	810	$1,838	$2.27	3d	1	0.86mi
720 Mix Ave #303 Hamden, CT	2.0	2.0	956	$2,200	$2.30	3d	1	0.96mi
11 Gorham Ave Hamden, CT	2.0	1.0	900	$1,700	$1.89	3d	1	0.98mi
835 E Mix Ave Unit 6413 Hamden, CT	1.0	1.0	850	$1,900	$2.24	44d	1	1.10mi
1204 Whitney Ave #208 Hamden, CT	1.0	1.0	637	$1,775	$2.79	3d	1	1.11mi
1204 Whitney Ave Hamden, CT	1.0	1.0	641	$1,900	$2.96	44d	2	1.11mi
1199 Whitney Ave Hamden, CT	1.0	1.0	586	$1,945	$3.32	3d	5	1.13mi
1166 Dixwell Ave Unit 6 Hamden, CT	2.0	1.0	900	$1,450	$1.61	3d	1	1.15mi
865 Mix Ave Hamden, CT	1.0–2.0	1.0–2.0	1028	$1,975	$1.92	3d	5	1.15mi
1164 Whitney Ave Unit H Hamden, CT	2.0	1.0	850	$2,100	$2.47	3d	1	1.19mi
1160 Whitney Ave Hamden, CT	2.0	1.0	900	$2,200	$2.44	3d	1	1.20mi
1160 Whitney Ave Unit E Hamden, CT	2.0	1.0	850	$2,200	$2.59	19d	1	1.20mi
1160 Whitney Ave Unit E Hamden, CT	2.0	1.0	900	$2,250	$2.50	44d	1	1.20mi
1160 Whitney Ave Apt A Hamden, CT	2.0	1.0	900	$2,100	$2.33	3d	1	1.20mi
663 Newhall St Unit 10 Hamden, CT	2.0	1.5	860	$1,900	$2.21	3d	1	1.21mi
905 Mix Ave Hamden, CT	1.0	1.0	836	$1,850	$2.21	44d	4	1.22mi
165 Towne House Rd Unit 165 Hamden, CT	1.0	1.0	631	$1,650	$2.61	44d	1	1.25mi
925 Mix Ave Hamden, CT	2.0	1.0–1.5	830	$2,460	$2.96	3d	3	1.28mi
2 Skiff St Hamden, CT	1.0–2.0	1.0	928	$1,905	$2.05	3d	3	1.29mi
1047 Whitney Ave Hamden, CT	2.0	1.0	1000	$2,000	$2.00	14d	1	1.39mi
1047 Whitney Ave Unit East Hamden, CT	2.0	1.0	1000	$2,000	$2.00	3d	1	1.39mi
43 Whiting St Unit 1 Hamden, CT	2.0	1.0	850	$1,800	$2.12	3d	1	1.42mi

HOA detail condo

• Monthly dues: $355 · $4,260/yr
• Likely covers: waterparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-03
   statusdays on market $130,000 Under Contract 32 DOM
2. 2026-06-01
   days on market $130,000 Active 31 DOM
3. 2026-05-31
   days on market $130,000 Active 30 DOM
4. 2026-04-20
   listed $130,000 Active 1018-char remark

ⓘ 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: $3,169 · $264/mo
• Projected year-2 tax: $3,169 · $264/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% 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 63% 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: $24,261
• − Mortgage interest: −$7,282
• − Property taxes: −$3,169
• − Insurance: −$1,448
• − Repairs & maintenance: −$1,941
• − Management: −$1,941
• − HOA: −$4,260
• − Depreciation: −$3,782
• Taxable income: $439
• Est. tax owed @ 24.0%: −$105
• After-tax cash flow: $2,004/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

2 events — show timeline

• 2026-06-02 Pending — Smart MLS
• 2026-04-20 Listed $130,000 Smart MLS

Property tax history

-0.0%/yr

Latest (2023): $3,169 · +1.6% YoY. Source: county tax records.