134 Forest St · North Haven, CT 06518

$369,900

4 bd · 2.0 ba · 1,529 sqft · SingleFamily public records · 3 Days on market

Built 1938 0.37 ac lot Est $373k · at est.

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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).

• Cash flow +13.1/30.0
• ARV discount +7.9/15.0
• 1% rule +4.4/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT PRICE! 4 bedrooms 2 full baths home on .37 acre corner lot in prime Mt. Carmel Area of Hamden. Many charming architectural details. FABULOUS opportunity for INVESTOR as rental income or owner-occupant who may wish to expand in future. Well-maintained. See attachment for list of Seller Improvements. WALK to restaurants, shops, bus, park, library, town center. Convenient to Quinnipiac, Yale, I-91, Route 15 (aka Merritt Pkwy).Living Rm w/built-ins & hardwood flrs, Dining Rm w/built-in & hardwood flrs. Eat-in remodeled Kitchen with butler's pantry. All bedrooms have hardwood Flrs. Rear deck. Massive 2 car garage and plenty of off-street parking. 124 feet of frontage on Forest St. & 130 feet frontage on Vine St. NO TRESPASSING!

Key facts

• Hardwood flooring
• Private deck
• Generous pantry

Tags

• OVERSIZED LOT
• LIVING ROOM WITH BUILT-INS
• HARDWOOD FLOORING
• SPACIOUS EAT-IN KITCHEN
• GENEROUS PANTRY
• PRIVATE DECK

Property features AI

Exterior

• Parking: Detached garage; Two-car garage
• Utilities: Public water connected; Public sewer connected; Fuel tank located in basement
• Home design: Single family home
• Construction: Frame construction; Concrete foundation; Built prior to public record living area (public record lists 1,456)
• Exterior features: Lightly wooded, level lot; Aluminum siding; Asphalt shingle roof

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: Five bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot water radiator heating (oil-fired); Window unit cooling; Propane hot water
• Interior features: Seven total rooms; Full basement
• Laundry & utility: Washer; Dryer; Laundry room on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $370k.

Deal economics

• At list price, monthly cash flow is $-13 ($-151/yr) — negative.
• To cash-flow at today's rent, offer at most $368k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $347k (6.2% below list).
• Recommended offer: $347k (6.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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 flat; 79 active listings in the ZIP; 9 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).
• This rent runs 39% of the median local income ($107k/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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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 $178k; list at $370k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $347,017 (6.2% 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. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $373,076
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
141 Cannon St	0.31mi	4/2.0	1,589 (+4%)	11mo	$400,000	$252	70
355 & 166 Evergreen & Forest Ave	0.08mi	3/1.0 (-1)	1,391 (-9%)	9mo	$340,000	$244	65
75 Colonial Dr	0.46mi	3/1.5 (-1)	1,570 (+3%)	2mo	$365,000	$232	65
90 Colonial Dr	0.49mi	3/1.5 (-1)	1,440 (-6%)	2mo	$405,000	$281	59
352 Knob Hill Dr	0.45mi	3/3.0 (-1)	1,576 (+3%)	10mo	$440,000	$279	57
133 Pelham Ave	0.37mi	3/1.5 (-1)	1,674 (+10%)	7mo	$397,000	$237	54
63 Bolton St	0.59mi	3/2.0 (-1)	1,610 (+5%)	8mo	$334,900	$208	52
46 Forest Ct N	0.49mi	3/2.0 (-1)	1,338 (-12%)	3mo	$275,000	$206	49
96 Bolton St	0.47mi	3/2.0 (-1)	1,692 (+11%)	9mo	$400,000	$236	48
100 Anns Farm Rd	0.47mi	3/1.0 (-1)	1,378 (-10%)	8mo	$407,500	$296	46
179 Anns Farm Rd	0.60mi	3/2.0 (-1)	1,400 (-8%)	11mo	$425,000	$304	44
114 Colony St	0.66mi	3/1.0 (-1)	1,732 (+13%)	1mo	$350,000	$202	37

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 · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.33×
• Total profit: $-69,647
• Equity at exit: $55,153

10-year hold

• IRR: -20.3%
• Equity multiple: 0.07×
• Total profit: $-96,294
• Equity at exit: $31,982

Cash invested: $103,572 (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: 8.9×

Monthly cashflow live

• Estimated rent: $3,470 high
• Mortgage (P&I): −$1,940
• Tax from tax record: −$660 /mo · $7,921/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$729
• Net cashflow: $-13

Break-even live

Break-even rent $3,486

Max offer price $367,679

Occupancy floor 95%

Sensitivity live

Price	-10% $197	-5% $92	+0% $-13	+5% $-117	+10% $-222
Rent	-10% $-287	-5% $-150	+0% $-13	+5% $125	+10% $262
Rate	-1.0pp $174	-0.5pp $82	base $-13	+0.5pp $-108	+1.0pp $-206

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27 Melrose Ave Hamden, CT	3.0	1.0	1822	$3,500	$1.92	45d	1	0.20mi
95 Riverside Dr Hamden, CT	5.0	2.0	2167	$4,195	$1.94	19d	1	0.55mi
95 Riverside Dr Hamden, CT	5.0	2.0	1197	$4,195	$3.50	3d	1	0.55mi
100 Town Walk Dr Hamden, CT	1.0–3.0	1.0–2.0	1064	$3,020	$2.84	3d	36	0.55mi
66 Washington Rd Hamden, CT	4.0	3.0	1761	$3,500	$1.99	3d	1	0.62mi
1265 Sherman Ave Hamden, CT	4.0	2.0	1378	$3,400	$2.47	3d	1	0.94mi
65 Buell St North Haven, CT	3.0	1.5	1288	$3,595	$2.79	11d	1	1.24mi
45 Renshaw Rd Hamden, CT	3.0	2.0	1668	$3,600	$2.16	19d	1	1.24mi
1400 Hartford Tpke #10 North Haven, CT	3.0	2.0	1295	$2,990	$2.31	44d	1	1.25mi

Listing history 4 events

1. 2026-06-09
   status $369,900 Under Contract 3 DOM
2. 2026-06-08
   days on market $369,900 Active 3 DOM
3. 2026-06-07
   remarks 446-char remark
4. 2026-06-07
   listed $369,900 Active 2 DOM

ⓘ 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: $7,921 · $660/mo
• Projected year-2 tax: $7,921 · $660/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 16 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: $41,642
• − Mortgage interest: −$20,720
• − Property taxes: −$7,921
• − Insurance: −$1,850
• − Repairs & maintenance: −$3,331
• − Management: −$3,331
• − Depreciation: −$10,761
• Taxable loss: −$6,272
• Est. tax savings @ 24.0%: +$1,505
• After-tax cash flow: $1,354/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): 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

+128.3% since first listed

11 events — show timeline

• 2026-06-05 Listed $369,900 Smart MLS
• 2017-05-23 Sold (Public Records) $177,500 Public Records
• 2017-05-19 Sold (MLS) $177,500 Smart MLS
• 2017-04-03 Listed $187,500 Smart MLS
• 2016-12-12 Listing Removed — Smart MLS
• 2016-08-12 Listing Removed — Smart MLS
• 2016-08-12 Listed $199,000 Smart MLS
• 2016-03-10 Listed $199,000 Smart MLS
• 2016-03-01 Listing Removed — Smart MLS
• 2015-06-29 Listed $225,000 Smart MLS
• 1988-05-01 Sold (Public Records) $162,000 Public Records

Property tax history

+3.1%/yr

Latest (2023): $7,921 · +1.6% YoY. Source: county tax records.