1423 Quinnipiac Ave #108 · New Haven, CT 06513

$145,000

2 bd · 1.0 ba · 1,021 sqft · Condo public records · 24 Days on market

Built 1987 $333/mo HOA · 17% of rent

---

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 +20.6/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable unit at harborcrest. Own for less than renting. Townhouse unit w/private deck. Please allow 48 hrs for showings. Conventional financing available w/5% down. Call for details

Key facts

• Convenient access
• Waterfront community
• Nearby parks

Tags

• WATERFRONT COMMUNITY
• QUINNIPIAC RIVER
• ASSIGNED PARKING
• CONVENIENT ACCESS
• NEARBY PARKS
• PUBLIC TRANSPORTATION

Property features AI

Finance

• Other: Pets allowed with restrictions (cat one-time fee applies)
• HOA & community: Monthly HOA fee of $333; HOA covers grounds maintenance, trash pickup, snow removal, water, and insurance; Community includes 117 total units

Exterior

• Utilities: Public water connected; Public sewer connected; Hot water: Natural gas and oil
• Home design: Condo/Co-op; Unit spans 2 levels
• Construction: Other construction
• Exterior features: Vinyl siding; Located in the Harbour Crest complex; Condominium

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Natural gas heating fuel; Central air conditioning
• Interior features: Central air conditioning; Full basement with interior access; Total of 4 rooms across 2 levels

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.8% in New 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 79/100 on livability (#31 in CT, #2,190 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment D, crime F.
• New Haven School District (urban): math 12% / reading 25% proficiency, ranked #147 of 153 in CT (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bishop Woods Architecture And Design Magnet School (math 2% / reading 22%, grade F, #490 of 553 statewide, top 90%, 438 students, 84% FRL); Betsy Ross Arts Magnet School (math 12% / reading 27%, grade F, #161 of 175 statewide, top 93%, 327 students, 70% FRL); Wilbur Cross High School (math 17% / reading 37%, grade F, #147 of 194 statewide, top 78%, 1,633 students, 76% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 102 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $1,927/mo this rent would consume 48% of the median local household income ($48k/yr) (locally 2664% 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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 $55k; list at $145k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,825 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.33% ✓
• Cap rate: 7.90%
• Cash-on-cash: 5.75%
• DSCR: 1.26
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.12% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-8,675
• Equity at exit: $21,620

10-year hold

• IRR: 5.8%
• Equity multiple: 1.46×
• Total profit: $18,557
• Equity at exit: $12,537

Cash invested: $40,600 (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 06513

• Home prices YoY: -7.8%
• Rents YoY: 4.1%
• Active inventory: 102
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,927 high
• Mortgage (P&I): −$760
• Tax from tax record: −$174 /mo · $2,086/yr
• Insurance: −$60
• HOA: −$333
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $195

Break-even live

Break-even rent $1,681

Max offer price $145,000

Occupancy floor 85%

Sensitivity live

Price	-10% $277	-5% $236	+0% $195	+5% $154	+10% $113
Rent	-10% $42	-5% $119	+0% $195	+5% $271	+10% $347
Rate	-1.0pp $268	-0.5pp $232	base $195	+0.5pp $157	+1.0pp $119

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1425 Quinnipiac Ave #302 New Haven, CT	2.0	1.5	1212	$2,000	$1.65	20d	1	0.16mi
1425 Quinnipiac Ave #112 New Haven, CT	2.0	1.5	1212	$2,000	$1.65	45d	1	0.16mi
1314 Quinnipiac Ave New Haven, CT	2.0–3.0	1.0	1150	$1,695	$1.47	5d	8	0.22mi
430 Eastern St New Haven, CT	1.0–3.0	1.0–1.5	900	$1,832	$2.04	4d	2	0.32mi
5 Assumption St New Haven, CT	3.0	1.0	816	$2,750	$3.37	4d	1	0.40mi
59 Foxon Blvd East Haven, CT	1.0	2.0	840	$1,850	$2.20	16d	1	0.41mi
95 Weybosset St Unit 3 New Haven, CT	2.0	1.0	800	$1,800	$2.25	45d	1	0.49mi
339 Eastern St New Haven, CT	2.0	1.0	505	$1,600	$3.17	45d	6	0.57mi
631 Middletown Ave New Haven, CT	2.0	1.0	932	$1,775	$1.90	46d	1	0.66mi
918 Quinnipiac Ave #7 New Haven, CT	2.0	2.0	1361	$2,500	$1.84	4d	1	0.86mi
80 New Haven, CT	2.0	1.0	850	$1,900	$2.24	5d	2	0.96mi
232 Glen Haven Rd New Haven, CT	2.0	1.0	900	$1,850	$2.06	16d	1	0.98mi
318 Front St Unit one New Haven, CT	3.0	1.5	1400	$3,100	$2.21	23d	1	1.08mi
75 Redwood Dr #708 East Haven, CT	2.0	2.0	1265	$2,500	$1.98	4d	1	1.14mi
110 Maltby St New Haven, CT	1.0	1.0	760	$1,550	$2.04	16d	1	1.18mi
57 Maltby St Unit 2nd Front New Haven, CT	2.0	1.0	800	$1,395	$1.74	5d	1	1.19mi
153 Dover St New Haven, CT	2.0	1.0	888	$1,750	$1.97	25d	1	1.29mi
153 Dover St Unit D New Haven, CT	2.0	1.0	888	$1,750	$1.97	45d	1	1.29mi
153 Dover St New Haven, CT	2.0	1.0	888	$1,800	$2.03	13d	1	1.29mi
651 Quinnipiac Ave Unit 2 New Haven, CT	3.0	1.0	1355	$1,975	$1.46	45d	1	1.35mi
122 Atwater St New Haven, CT	3.0	1.0	1274	$2,300	$1.81	5d	1	1.38mi
122 Atwater St Unit 3 New Haven, CT	2.0	1.0	1300	$1,980	$1.52	5d	1	1.38mi
1397 State St Unit 6 New Haven, CT	2.0	1.5	1000	$1,695	$1.70	45d	1	1.41mi
1399 State St Unit 5B New Haven, CT	1.0	1.0	700	$1,595	$2.28	45d	1	1.41mi
10 Rowe St New Haven, CT	2.0	1.0	1100	$1,900	$1.73	13d	1	1.48mi
40 Exchange St Unit 2 New Haven, CT	3.0	1.0	1000	$2,050	$2.05	45d	1	1.49mi

HOA detail condo

• Monthly dues: $333 · $3,996/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $145,000 Active 24 DOM
2. 2026-06-18
   days on market $145,000 Active 21 DOM
3. 2026-06-17
   days on market $145,000 Active 20 DOM
4. 2026-06-16
   days on market $145,000 Active 19 DOM
5. 2026-06-15
   days on market $145,000 Active 18 DOM
6. 2026-06-14
   days on market $145,000 Active 16 DOM
7. 2026-06-13
   days on market $145,000 Active 15 DOM
8. 2026-06-10
   days on market $145,000 Active 13 DOM
9. 2026-06-09
   days on market $145,000 Active 12 DOM
10. 2026-06-08
    days on market $145,000 Active 11 DOM
11. 2026-06-07
    days on market $145,000 Active 10 DOM
12. 2026-06-05
    days on market $145,000 Active 7 DOM
13. 2026-06-03
    days on market $145,000 Active 6 DOM
14. 2026-06-03
    days on market $145,000 Active 5 DOM
15. 2026-06-01
    days on market $145,000 Active 4 DOM
16. 2026-05-31
    days on market $145,000 Active 3 DOM
17. 2026-05-28
    listed $145,000 Active
18. 2025-12-29
    historical
19. 2025-11-18
    price $135,000
20. 2025-07-21
    listed $149,900 Active
21. 2021-02-26
    soldstatus $55,000
22. 2002-03-13
    soldstatus $61,500
23. 2002-03-08
    soldstatus $61,500 184-char remark

    Show marketing remark (184 chars)

    Affordable unit at harborcrest. Own for less than renting. Townhouse unit w/private deck. Please allow 48 hrs for showings. Conventional financing available w/5% down. Call for details

24. 2001-08-28
    listed $67,900 184-char remark

    Show marketing remark (184 chars)

    Affordable unit at harborcrest. Own for less than renting. Townhouse unit w/private deck. Please allow 48 hrs for showings. Conventional financing available w/5% down. Call for details

ⓘ 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: $2,086 · $174/mo
• Projected year-2 tax: $2,594 · $216/mo
• Expected delta: +$508/yr (+$42/mo · 24.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,123
• − Mortgage interest: −$8,122
• − Property taxes: −$2,086
• − Insurance: −$725
• − Repairs & maintenance: −$1,850
• − Management: −$1,850
• − HOA: −$3,996
• − Depreciation: −$4,218
• Taxable income: $276
• Est. tax owed @ 24.0%: −$66
• After-tax cash flow: $2,269/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: New Haven School District
• NCES district ID: 0902790
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 25% ▼ -10.00%
• Median HH income: $38,058
• Composite: 15.48/100
• National rank: #9308
• State rank: #147 of 153 in CT

Livability — New Haven

• Score: 79/100
• State rank: #31
• US rank: #2190

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Haven, CT
• County: New Haven County · 688,236 people
• City population: 132,813
• Metro: New Haven-Milford, CT
• Population (ZIP): 38,888
• Household income: $48,500
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 2664.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 47% White 26% Black 22% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 25% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 17% · Canada, Jamaica, South Korea
• Languages at home: 56% English-only · Spanish 39% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -30.87%
• Current HPI: 364.006
• Rent YoY: ▲ 4.12%
• 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

+113.5% since first listed

8 events — show timeline

• 2026-05-28 Listed $145,000 Smart MLS
• 2025-12-29 Listing Removed — Smart MLS
• 2025-11-18 Price Changed $135,000 Smart MLS
• 2025-07-21 Listed $149,900 Smart MLS
• 2021-02-26 Sold (Public Records) $55,000 Public Records
• 2002-03-13 Sold (Public Records) $61,500 Public Records
• 2002-03-08 Sold (MLS) $61,500 Smart MLS
• 2001-08-28 Listed $67,900 Smart MLS

Property tax history

-0.4%/yr

Latest (2023): $2,086 · -6.4% YoY. Source: county tax records.