1188 Whitney Ave · Hamden, CT 06517

$725,000

12 bd · 9.0 ba · 4,168 sqft · MultiFamily · 2 Days on market

Built 1930 Good condition 0.27 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

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

Rare opportunity to own a 6 unit apartment building in the heart of the Whitneyville section of the Hamden! The first floor features two apartments including one large studio with hardwood floors and a spacious one bedroom. The second floor/third floor features two rare two story townhouses with 2 bedrooms and 1.5 bath. The apartments feature large living rooms, amazing natural light, dining areas and two large bedrooms with ample closet space. The lower level features a spacious studio apartment with eat in kitchen and combination living/bedrooms space with a remodeled full bath. The building has a sixth apartment in the basement that is currently being used as a laundry room. The building

Key facts

• 0.27 acre lot
• 8 parking spots
• Built 1930

Property features AI

Exterior

• Parking: Parking for 8 vehicles; Off-street parking
• Utilities: Public water connected; Public sewer connected; Hot water: other
• Home design: Multi-family property (5+ units); Six units total
• Construction: Frame construction; Clapboard siding (grey); Asphalt shingle roof; Brick and stone foundation
• Exterior features: Level lot; Gutters; Exterior lighting; Private paved driveway; Off-street paved parking and driveway

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 8 bedrooms total
• Bathrooms: 6 full bathrooms; 2 half bathrooms
• Heating & cooling: Baseboard heating; Natural gas fuel
• Interior features: 18 total rooms; Full basement, partially finished with walk-out; Has attic with crawl space access via hatch
• Laundry & utility: Common laundry area in basement

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/?-bath units multifamily listed at $725k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $4k ($51k/yr) — positive. Per door: $709/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $725k).

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: Hamden High School (math 21% / reading 44%, grade F, #125 of 194 statewide, top 66%, 1,672 students, 39% FRL).
• Market conditions: Rents flat; 84 active listings in the ZIP; solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $11,724/mo this rent would consume 135% of the median local household income ($105k/yr) (locally 531% 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 $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $203k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $725,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.62% ✓
• Cap rate: 13.33%
• Cash-on-cash: 25.13%
• DSCR: 2.12
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.21% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 1.60×
• Total profit: $121,466
• Equity at exit: $108,100

10-year hold

• IRR: 21.9%
• Equity multiple: 2.63×
• Total profit: $330,918
• Equity at exit: $62,685

Cash invested: $203,000 (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 06517

• Rents YoY: 0.2%
• Active inventory: 84
• Price-to-rent: 30.9×

Monthly cashflow live

• Estimated rent: $11,724 high
• Mortgage (P&I): −$3,802
• Tax est. 1.5%: −$906 /mo · $10,875/yr
• Insurance: −$302
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,462
• Net cashflow: $4,252

Break-even live

Break-even rent $6,342

Max offer price $725,000

Occupancy floor 59%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	2	—	$11,724
Total (6 units)			$11,724

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: $181,250
• Closing costs: $21,750
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $725,000 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark
3. 2026-06-16
   listed $725,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $140,688
• − Mortgage interest: −$40,611
• − Property taxes: −$10,875
• − Insurance: −$3,625
• − Repairs & maintenance: −$11,255
• − Management: −$11,255
• − Depreciation: −$21,091
• Taxable income: $41,976
• Est. tax owed @ 24.0%: −$10,074
• After-tax cash flow: $40,946/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

A well-maintained multi-family home with good condition and potential for cosmetic updates to increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — dated and worn
• Minor kitchen appliances — slightly outdated

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizes kitchen and improves functionality
• Both update bathroom fixtures — enhances bathroom aesthetics and functionality
• Both paint exterior — enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
kitchen appliances · slightly outdated	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizes kitchen and improves functionality ↑
• Both update bathroom fixtures — enhances bathroom aesthetics and functionality ↑
• Both paint exterior — enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 14,221
• Household income: $104,550
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 531.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Black 19% Hispanic / Latino 17% Two or more races 7% Asian 2%
• Hispanic origin (detail): Puerto Rican 11% Dominican 2%
• Common ancestry: Romanian 5% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 12% · Canada, Jamaica, United Kingdom
• Languages at home: 80% English-only · Spanish 12% French/Haitian/Cajun 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: ▼ -204.00%
• Current HPI: 255.2756
• Rent YoY: ▲ 0.21%
• 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

1 event — show timeline

• 2026-06-16 Listed $725,000 Smart MLS