128 Church St · Hamden, CT 06514

$325,000

4 bd · 2.0 ba · 3,723 sqft · MultiFamily · 9 Days on market

Built 1925 Fair condition 9,583 sqft lot Est $454k · 28% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +8.1/30.0
• Rent growth +3.7/5.0
• Schools +3.3/10.0
• 1% rule +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Incredible Investment opportunity to purchase a single family in need of rehab and a 2000 SQ FT single story commercial building in Hamden with excellent long-term tenant. The single-family home features 4 bedrooms, 1.5 baths and 1680 SQ FT of living space. The main level of the home features a formal living room with hardwood floors & fireplace, large eat in kitchen and two spacious bedrooms with full bath. The second level of the home features two additional bedrooms and a half bath. The home has a large basement with finishing potential. The rear building features a 2000 SQ FT one story commercial space rented to a long term and well-established tenant. The space is in good conditi

Key facts

• Single family
• Large eat in kitchen
• Large basement

Tags

• SINGLE FAMILY
• FORMAL LIVING ROOM
• HARDWOOD FLOORS
• LARGE EAT IN KITCHEN
• SPACIOUS BEDROOMS
• LARGE BASEMENT

Property features AI

Exterior

• Parking: Paved driveway parking; 4 total parking spaces
• Utilities: Public water connected; Public sewer connected; Electric power (assumed standard service)
• Home design: Multi-family 2-family property
• Construction: Frame construction; Concrete and stone foundation; Asphalt shingle and flat roof; Vinyl and aluminum siding
• Exterior features: Level lot; Gutters; Exterior lighting; Private paved driveway

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bath; 2 half baths
• Heating & cooling: Baseboard heating; Radiator heating; Oil-fired heat; fuel tank located in basement; Hot water: other
• Interior features: 9 total rooms; Full basement; Attic with crawl space and hatch access
• Laundry & utility: Laundry hookups in basement; Some units include washer/dryer; Unit 1 has hook-up

🏷️ Possibly a rental listed for sale. The $325,000 price doesn't fit this home's estimated sale value (~$454,206) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $325k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-322 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $278k (14.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (25.0% below list).
• Recommended offer: $244k (25.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — 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 rising fast (+4.6%/yr); 107 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• This rent runs 33% of the median local income ($89k/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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $243,594 (25.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1925 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.75% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.24%
• DSCR: 0.81
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $454,206
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34 Bradley Ave	0.37mi	5/3.0 (+1)	3,283 (-12%)	15mo	$475,000	$145	41
52 Collins St	0.28mi	5/3.0 (+1)	3,271 (-12%)	22mo	$400,000	$122	39
28 3rd St	0.72mi	4/4.0	3,861 (+4%)	21mo	$450,000	$117	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -21.7%
• Equity multiple: 0.24×
• Total profit: $-69,101
• Equity at exit: $48,459

10-year hold

• IRR: -12.0%
• Equity multiple: 0.24×
• Total profit: $-69,396
• Equity at exit: $28,100

Cash invested: $91,000 (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 06514

• Rents YoY: 4.6%
• Active inventory: 107
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,436 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $-322

Break-even live

Break-even rent $2,843

Max offer price $278,464

Occupancy floor —

Sensitivity live

Price	-10% $-97	-5% $-209	+0% $-322	+5% $-434	+10% $-546
Rent	-10% $-514	-5% $-418	+0% $-322	+5% $-225	+10% $-129
Rate	-1.0pp $-158	-0.5pp $-239	base $-322	+0.5pp $-406	+1.0pp $-491

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1428 Dixwell Ave Fl 2 Hamden, CT	3.0	1.0	3096	$2,100	$0.68	44d	1	0.24mi
327 Augur St Unit 3 Hamden, CT	3.0	1.0	3036	$1,800	$0.59	3d	1	0.95mi
1546 Whitney Ave Hamden, CT	4.0	2.0	2491	$3,400	$1.36	44d	1	1.22mi
918 Winchester Ave Unit 2 New Haven, CT	3.0	1.0	3603	$1,900	$0.53	44d	1	1.45mi
106 Butler St New Haven, CT	4.0	2.0	3045	$2,600	$0.85	15d	1	1.48mi
322 Bassett St Unit 2 New Haven, CT	3.0	1.0	2936	$1,900	$0.65	44d	1	1.50mi

Listing history 8 events

1. 2026-06-18
   days on market $325,000 Active 9 DOM
2. 2026-06-17
   days on market $325,000 Active 8 DOM
3. 2026-06-16
   days on market $325,000 Active 7 DOM
4. 2026-06-15
   days on market $325,000 Active 6 DOM
5. 2026-06-14
   days on market $325,000 Active 4 DOM
6. 2026-06-13
   days on market $325,000 Active 3 DOM
7. 2026-06-09
   remarks 695-char remark
8. 2026-06-09
   listed $325,000 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: $29,231
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,339
• − Management: −$2,339
• − Depreciation: −$9,455
• Taxable loss: −$9,605
• Est. tax savings @ 24.0%: +$2,305
• After-tax cash flow: $-1,554/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 · 12 photos

Fair 45/100 Extensive rehab

This property requires extensive renovations, including kitchen and bathroom updates, exterior repairs, and landscaping. The investment opportunity presents a significant potential for value appreciation.

Repairs flagged

• Major Exposed plumbing — Visible damage
• Major Exposed cabinets — No doors or shelves

Value-add opportunities

• Both Landscaping — Improves curb appeal and property value
• Both Kitchen and bathroom renovations — Updates outdated spaces and increases value
• Both Exterior painting and repairs — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed plumbing · Visible damage	Major	$15,000–50,000
Exposed cabinets · No doors or shelves	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Landscaping — Improves curb appeal and property value ↑
• Both Kitchen and bathroom renovations — Updates outdated spaces and increases value ↑
• Both Exterior painting and repairs — Enhances curb appeal and property 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): 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

1 event — show timeline

• 2026-06-09 Listed $325,000 Smart MLS