365 Mather St · North Haven, CT 06514

$197,000

1 bd · 1.0 ba · 800 sqft · MultiFamily · 5 Days on market

Built 1988

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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 +19.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Welcome to Lake Whitney Glen, one of Hamden’s most picturesque and sought-after condominium communities. This beautifully renovated first floor end unit offers approximately 800 square feet of comfortable living space with abundant natural light, peaceful surroundings, and an unbeatable location. The spacious living room and oversized bedroom provide a warm and inviting atmosphere, while the updated eat-in kitchen features modern finishes including granite countertop and a dedicated dining area. Updated laminated flooring throughout. Enjoy your morning coffee or unwind after work on the private balcony overlooking the well-maintained grounds. The thoughtfully designed floor plan includes four walk-in closets, providing exceptional storage space rarely found in a one-bedroom condo. Additional conveniences include brand new in-unit washer and dryer, brand new central air conditioning and new gas heat and hot water unit, and a large private storage unit located in the basement. Lake Whitney Glen is known for its beautiful Tudor-style architecture, mature trees, landscaped gardens, ponds, and peaceful setting along Lake Whitney and the Farmington Canal Trail. Residents enjoy designated parking directly in front of the building, ample guest parking, and professional property management. Conveniently located just minutes from Yale University, downtown New Haven, Merritt Parkway, shopping, restaurants, and everyday amenities. Hamden Plaza, Trader Joe’s, Starbucks, Stop & Shop, and numerous local dining favorites are all nearby. Public transportation is within walking distance. This move-in-ready condo offers a rare combination of tranquility, convenience, and low-maintenance living in one of Hamden’s hidden gem communities.

Key facts

• First floor end unit
• Private balcony
• Four walk-in closets

Tags

• FIRST FLOOR END UNIT
• UPDATED EAT-IN KITCHEN
• PRIVATE BALCONY
• FOUR WALK-IN CLOSETS
• IN-UNIT WASHER AND DRYER
• CENTRAL AIR CONDITIONING

Property features AI

Finance

• Other: Pets allowed with restrictions (contact for details)
• HOA & community: Homeowners association with monthly fee; HOA fee: $345/month; HOA covers grounds maintenance, trash pickup, snow removal, water, sewer, and property management

Exterior

• Parking: Off-street parking; 2 parking spaces
• Utilities: Public water connected; Public sewer connected
• Home design: Condominium (Condo/Co-Op for sale); End unit
• Construction: Frame construction
• Exterior features: Brick siding; Part of the Lake Whitney Glen complex

Interior

• Kitchen: Oven/Range
• Bedrooms: 1 bedroom (single-level unit)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heat (natural gas)
• Interior features: Central air conditioning; No basement
• Laundry & utility: Electric domestic hot water

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $197k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $197k).
• Cap rate 7.7% vs local median 4.0% in North 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 78/100 on livability (#39 in CT, #2,723 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F, cost of living D-.
• 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.
• 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y 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: 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 $197,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.13%
• DSCR: 1.23
• GRM: 8.1

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: -8.6%
• Equity multiple: 0.68×
• Total profit: $-17,739
• Equity at exit: $29,373

10-year hold

• IRR: 3.0%
• Equity multiple: 1.23×
• Total profit: $12,840
• Equity at exit: $17,033

Cash invested: $55,160 (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: 8.1×

Monthly cashflow live

• Estimated rent: $2,022 high
• Mortgage (P&I): −$1,033
• Tax est. 1.5%: −$246 /mo · $2,955/yr
• Insurance: −$82
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $169

Break-even live

Break-even rent $1,807

Max offer price $197,000

Occupancy floor 87%

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: $49,250
• Closing costs: $5,910
• 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	2d	1	0.03mi
380 Mather St Hamden, CT	2.0	1.0–2.0	867	$2,635	$3.04	43d	16	0.09mi
414 Mather St Unit 2D Hamden, CT	1.0	1.0	830	$2,000	$2.41	2d	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	2d	1	0.32mi
5 Manila Ave Apt 6 Hamden, CT	1.0	1.0	620	$1,600	$2.58	43d	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	2d	1	0.76mi
1 Kaye Plz Hamden, CT	1.0	1.0	660	$1,750	$2.65	2d	1	0.76mi
676 Mix Ave Hamden, CT	2.0	1.0–2.0	810	$1,838	$2.27	2d	1	0.86mi
720 Mix Ave #303 Hamden, CT	2.0	2.0	956	$2,200	$2.30	2d	1	0.96mi
11 Gorham Ave Hamden, CT	2.0	1.0	900	$1,700	$1.89	2d	1	0.98mi
835 E Mix Ave Unit 6413 Hamden, CT	1.0	1.0	850	$1,900	$2.24	43d	1	1.10mi
1204 Whitney Ave #208 Hamden, CT	1.0	1.0	637	$1,775	$2.79	2d	1	1.11mi
1204 Whitney Ave Hamden, CT	1.0	1.0	641	$1,900	$2.96	43d	2	1.11mi
1199 Whitney Ave Hamden, CT	1.0	1.0	586	$1,945	$3.32	2d	5	1.13mi
1166 Dixwell Ave Unit 6 Hamden, CT	2.0	1.0	900	$1,450	$1.61	2d	1	1.15mi
865 Mix Ave Hamden, CT	1.0–2.0	1.0–2.0	1028	$1,975	$1.92	2d	5	1.15mi
1164 Whitney Ave Unit H Hamden, CT	2.0	1.0	850	$2,100	$2.47	2d	1	1.19mi
1160 Whitney Ave Hamden, CT	2.0	1.0	900	$2,200	$2.44	2d	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	43d	1	1.20mi
1160 Whitney Ave Apt A Hamden, CT	2.0	1.0	900	$2,100	$2.33	2d	1	1.20mi
663 Newhall St Unit 10 Hamden, CT	2.0	1.5	860	$1,900	$2.21	2d	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	43d	1	1.25mi
925 Mix Ave Hamden, CT	2.0	1.0–1.5	830	$2,460	$2.96	2d	3	1.28mi
2 Skiff St Hamden, CT	1.0–2.0	1.0	928	$1,905	$2.05	2d	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	2d	1	1.39mi
43 Whiting St Unit 1 Hamden, CT	2.0	1.0	850	$1,800	$2.12	2d	1	1.42mi

Listing history 4 events

1. 2026-06-15
   days on marketlisting id $197,000 Active 5 DOM
2. 2026-06-15
   days on market $197,000 Active 3 DOM
3. 2026-06-13
   remarks 699-char remark
4. 2026-06-13
   listed $197,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: −$11,035
• − Property taxes: −$2,955
• − Insurance: −$1,782
• − Repairs & maintenance: −$1,941
• − Management: −$1,941
• − Depreciation: −$5,731
• Taxable loss: −$1,124
• Est. tax savings @ 24.0%: +$270
• After-tax cash flow: $2,302/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 — North Haven

• Score: 78/100
• State rank: #39
• US rank: #2723

Category grades

Amenities F Commute F Cost of living D- Crime A- Employment A+ Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: New Haven County · 688,236 people
• City population: 24,527
• 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

+19.5% since first listed

5 events — show timeline

• 2026-06-12 Listed $197,000 Smart MLS
• 2026-06-11 Listed $197,000 FSBO.com
• 2022-07-28 Price Changed $1,300 RENT.
• 2006-07-25 Listing Removed — Smart MLS
• 2006-07-25 Listed $164,900 Smart MLS