2480 Whitney Ave #16 · Hamden, CT 06518

$249,000

2 bd · 1.5 ba · 1,152 sqft · Condo public records · 60 Days on market

Built 1988 $216/sqft · 16% below area Est $297k · 16% under $430/mo HOA · 18% of rent

---

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 +14.8/15.0
• Cash flow +7.1/30.0
• 1% rule +4.8/10.0
• Schools +3.3/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 2-bedroom, 1.5-bath townhouse condo nestled in the desirable Whitneyville section of Hamden. Tucked away in a peaceful, wooded setting, this home offers a perfect blend of privacy and convenience. Inside, you'll find a comfortable and functional layout with spacious living areas, ideal for both relaxing and entertaining. The home features a dedicated laundry room for added convenience and an under-unit garage, providing secure parking and additional storage. Enjoy the tranquility of nature right outside your door while still being just minutes from shopping, dining, major highways, and all that Hamden has to offer. Whether you're commuting or staying local, this location truly puts you close to everything. A perfect opportunity for low-maintenance living in a serene, sought-after neighborhood-don't miss it!

Key facts

• Under-unit garage
• $430 HOA
• Garage

Tags

• DEDICATED LAUNDRY ROOM
• UNDER-UNIT GARAGE
• PEACEFUL WOODED SETTING
• LOW-MAINTENANCE LIVING
• SOUGHT-AFTER NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $-353 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (25.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (2.4% below list).
• Recommended offer: $187k (25.0% below list) — sets the bar for cash-flow.

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.
• Market conditions: Rents flat; 79 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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.
• Current owner paid $110k; list at $249k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $186,665 (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. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.98% ✗
• Cap rate: 4.59%
• Cash-on-cash: -6.07%
• DSCR: 0.73
• GRM: 8.5

CMA / ARV

• ARV (median comp): $297,199
• List price: $249,000
• Delta: -16.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -30.8%
• Equity multiple: 0.01×
• Total profit: $-68,805
• Equity at exit: $37,127

10-year hold

• IRR: -59.4%
• Equity multiple: -0.61×
• Total profit: $-112,059
• Equity at exit: $21,529

Cash invested: $69,720 (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 06518

• Rents YoY: 0.3%
• Active inventory: 79
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,430 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$433 /mo · $5,194/yr
• Insurance: −$104
• HOA: −$430
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $-353

Break-even live

Break-even rent $2,876

Max offer price $186,665

Occupancy floor —

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
56 Edgewood Ave Unit 56 Hamden, CT	2.0	1.5	1260	$3,000	$2.38	44d	1	0.20mi
2405 Whitney Ave Hamden, CT	2.0	1.5	930	$2,225	$2.39	44d	1	0.24mi
75 Washington Ave Unit 2-317 Hamden, CT	2.0	2.0	992	$1,950	$1.97	44d	1	0.35mi
1800 Aspen Glen Dr Hamden, CT	1.0–2.0	1.0–2.0	997	$2,705	$2.71	3d	5	0.46mi
100 Town Walk Dr Hamden, CT	1.0–3.0	1.0–2.0	1064	$2,464	$2.32	3d	36	0.56mi
175 Mill Pond Rd #102 Hamden, CT	2.0	1.5	900	$1,900	$2.11	3d	1	0.75mi
175 Mill Pond Rd #324 Hamden, CT	2.0	1.5	977	$1,900	$1.94	19d	1	0.75mi
65 Buell St North Haven, CT	3.0	1.5	1288	$3,595	$2.79	11d	1	0.89mi
1298 Hartford Tpke North Haven, CT	2.0	2.0	1118	$2,925	$2.62	11d	2	1.08mi
69 Rentell Rd Hamden, CT	2.0	1.0	1008	$2,900	$2.88	3d	1	1.10mi
2 Skiff St Hamden, CT	1.0–2.0	1.0	928	$2,045	$2.20	3d	3	1.11mi
925 Mix Ave Hamden, CT	2.0	1.0–1.5	830	$3,025	$3.64	3d	3	1.16mi
1400 Hartford Tpke #10 North Haven, CT	3.0	2.0	1295	$2,990	$2.31	44d	1	1.18mi
905 Mix Ave Hamden, CT	1.0	1.0	836	$1,850	$2.21	44d	4	1.20mi
865 Mix Ave Hamden, CT	1.0–2.0	1.0–2.0	1028	$2,645	$2.57	3d	5	1.26mi
835 E Mix Ave Unit 6413 Hamden, CT	1.0	1.0	850	$1,900	$2.24	44d	1	1.33mi
835 E Mix Ave Unit 6305 Hamden, CT	2.0	2.0	1217	$2,395	$1.97	3d	1	1.33mi
100 State St North Haven, CT	1.0	1.0	703	$1,895	$2.69	44d	3	1.36mi

HOA detail condo

• Monthly dues: $430 · $5,160/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $249,000 Active 60 DOM
2. 2026-06-17
   days on market $249,000 Active 59 DOM
3. 2026-06-16
   days on market $249,000 Active 58 DOM
4. 2026-06-15
   statusdays on market $249,000 Active 57 DOM
5. 2026-06-13
   statusdays on market $249,000 Under Contract 56 DOM
6. 2026-06-10
   days on market $249,000 Active 54 DOM
7. 2026-06-09
   days on market $249,000 Active 53 DOM
8. 2026-06-08
   days on market $249,000 Active 52 DOM
9. 2026-06-07
   days on market $249,000 Active 51 DOM
10. 2026-06-05
    pricedays on market $249,000 Active 48 DOM
11. 2026-06-03
    days on market $254,900 Active 47 DOM
12. 2026-06-03
    days on market $254,900 Active 46 DOM
13. 2026-06-01
    days on market $254,900 Active 45 DOM
14. 2026-05-31
    days on market $254,900 Active 44 DOM
15. 2026-05-18
    price $254,900 846-char remark

    Show marketing remark (846 chars)

    Welcome to this charming 2-bedroom, 1.5-bath townhouse condo nestled in the desirable Whitneyville section of Hamden. Tucked away in a peaceful, wooded setting, this home offers a perfect blend of privacy and convenience. Inside, you'll find a comfortable and functional layout with spacious living areas, ideal for both relaxing and entertaining. The home features a dedicated laundry room for added convenience and an under-unit garage, providing secure parking and additional storage. Enjoy the tranquility of nature right outside your door while still being just minutes from shopping, dining, major highways, and all that Hamden has to offer. Whether you're commuting or staying local, this location truly puts you close to everything. A perfect opportunity for low-maintenance living in a serene, sought-after neighborhood-don't miss it!

16. 2026-04-17
    listed $259,000 Active 846-char remark

    Show marketing remark (846 chars)

    Welcome to this charming 2-bedroom, 1.5-bath townhouse condo nestled in the desirable Whitneyville section of Hamden. Tucked away in a peaceful, wooded setting, this home offers a perfect blend of privacy and convenience. Inside, you'll find a comfortable and functional layout with spacious living areas, ideal for both relaxing and entertaining. The home features a dedicated laundry room for added convenience and an under-unit garage, providing secure parking and additional storage. Enjoy the tranquility of nature right outside your door while still being just minutes from shopping, dining, major highways, and all that Hamden has to offer. Whether you're commuting or staying local, this location truly puts you close to everything. A perfect opportunity for low-maintenance living in a serene, sought-after neighborhood-don't miss it!

17. 2016-10-14
    soldstatus $110,000 240-char remark

    Show marketing remark (240 chars)

    This condo is 2 bed 1.5, living,dining rooms, basement with a 1car attached garage condo located in a nice neighborhood newer condo has all appliances. This property is for sale "as is" where is with all defects conditions if any.

18. 2016-09-29
    historical 240-char remark

    Show marketing remark (240 chars)

    This condo is 2 bed 1.5, living,dining rooms, basement with a 1car attached garage condo located in a nice neighborhood newer condo has all appliances. This property is for sale "as is" where is with all defects conditions if any.

19. 2016-04-26
    listed $124,900 240-char remark

    Show marketing remark (240 chars)

    This condo is 2 bed 1.5, living,dining rooms, basement with a 1car attached garage condo located in a nice neighborhood newer condo has all appliances. This property is for sale "as is" where is with all defects conditions if any.

20. 2016-02-24
    historical
21. 2015-10-07
    listed $149,999
22. 1993-10-19
    soldstatus $91,000
23. 1990-12-14
    soldstatus $122,900

ⓘ 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: $5,194 · $433/mo
• Projected year-2 tax: $5,261 · $438/mo
• Expected delta: +$67/yr (+$6/mo · 1.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $29,157
• − Mortgage interest: −$13,948
• − Property taxes: −$5,194
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,333
• − Management: −$2,333
• − HOA: −$5,160
• − Depreciation: −$7,244
• Taxable loss: −$8,299
• Est. tax savings @ 24.0%: +$1,992
• After-tax cash flow: $-2,243/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): 20,126
• Household income: $106,692
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 692.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 15% Hispanic / Latino 7% Asian 6% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 4% Hispanic 2% Scotch-Irish 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 86% English-only · Spanish 4% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -166.95%
• Current HPI: 227.7908
• Rent YoY: ▲ 0.33%
• 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

+107.4% since first listed

9 events — show timeline

• 2026-05-18 Price Changed $254,900 Smart MLS
• 2026-04-17 Listed $259,000 Smart MLS
• 2016-10-14 Sold (MLS) $110,000 Smart MLS
• 2016-09-29 Listing Removed — Smart MLS
• 2016-04-26 Listed $124,900 Smart MLS
• 2016-02-24 Listing Removed — Smart MLS
• 2015-10-07 Listed $149,999 Smart MLS
• 1993-10-19 Sold (Public Records) $91,000 Public Records
• 1990-12-14 Sold (Public Records) $122,900 Public Records

Property tax history

+0.4%/yr

Latest (2023): $5,194 · +1.6% YoY. Source: county tax records.