146 Springside Ave Unit B7 · New Haven, CT 06515

$199,999

2 bd · 1.0 ba · 1,110 sqft · Condo public records · 124 Days on market

Built 1974 $180/sqft · 14% below area Est $233k · 14% under $430/mo HOA · 21% of rent

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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 +14.0/15.0
• Cash flow +8.2/30.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this bright and inviting condo ideally located just minutes from West Rock Ridge State Park, Westville Village, SCSU, and downtown New Haven. This well-maintained unit offers two generously sized bedrooms with ample closet space and a comfortable, open-concept layout. Enjoy central air and seamless indoor-outdoor living with sliders from the living and dining areas leading to your private deck overlooking a serene, wooded setting. One assigned off-street parking space is included. Pet friendly-one dog (30 lbs or less) or one cat permitted. Conveniently situated near Edgewood Park, Yale University, Yale New Haven Hospital, UNH, and major parkways. Located in a Yale Homebuyer neighborhood. A wonderful opportunity to enjoy both convenience and tranquility in a sought-after location. SOLD AS IS WHERE IS.

Key facts

• Private deck
• Wooded setting
• Off-street parking

Tags

• PRIVATE DECK
• WOODED SETTING
• OFF-STREET PARKING
• PET FRIENDLY
• OPEN-CONCEPT LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-191 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (16.9% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $166k (16.9% below list) — sets the bar for cash-flow.

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: Betsy Ross Arts Magnet School (math 12% / reading 27%, grade F, #161 of 175 statewide, top 93%, 327 students, 70% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: Rents rising (+2.4%/yr); 39 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 33% of the median local income ($74k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $200k implies a 223% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: major wind risk, 53% 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 $166,281 (16.9% 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 124 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.02% ✓
• Cap rate: 5.15%
• Cash-on-cash: -4.09%
• DSCR: 0.82
• GRM: 8.1

CMA / ARV

• ARV (median comp): $233,465
• List price: $199,999
• Delta: -14.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.42% rent growth · sell at horizon

5-year hold

• IRR: -23.9%
• Equity multiple: 0.19×
• Total profit: $-45,460
• Equity at exit: $29,821

10-year hold

• IRR: -20.6%
• Equity multiple: -0.05×
• Total profit: $-58,869
• Equity at exit: $17,292

Cash invested: $56,000 (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 06515

• Home prices YoY: -12.3%
• Rents YoY: 2.4%
• Active inventory: 39
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,050 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$248 /mo · $2,974/yr
• Insurance: −$83
• HOA: −$430
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-191

Break-even live

Break-even rent $2,291

Max offer price $166,281

Occupancy floor —

Sensitivity live

Price	-10% $-78	-5% $-134	+0% $-191	+5% $-247	+10% $-304
Rent	-10% $-353	-5% $-272	+0% $-191	+5% $-110	+10% $-29
Rate	-1.0pp $-90	-0.5pp $-140	base $-191	+0.5pp $-243	+1.0pp $-295

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Springside Ave New Haven, CT	2.0–3.0	1.0	800	$1,595	$1.99	5d	3	0.18mi
25 Springside Ave Unit 35 Springside 1B New Haven, CT	3.0	1.0	900	$1,895	$2.11	25d	1	0.18mi
433 Blake St #433 New Haven, CT	2.0	2.5	1414	$2,700	$1.91	4d	1	0.22mi
400 Blake St New Haven, CT	1.0–2.0	1.0–2.0	965	$2,895	$3.00	4d	30	0.28mi
330 Blake St Unit C-2 New Haven, CT	3.0	2.0	1200	$1,995	$1.66	25d	1	0.30mi
1005 Whalley Ave Unit 2 New Haven, CT	2.0	1.0	1200	$1,700	$1.42	45d	1	0.39mi
841 Whalley Ave Unit B New Haven, CT	2.0	1.0	972	$2,200	$2.26	4d	1	0.42mi
195 Valley St New Haven, CT	2.0	1.0	832	$1,700	$2.04	45d	1	0.43mi
115 Diamond St New Haven, CT	2.0	1.0	1067	$2,055	$1.93	16d	6	0.46mi
326 W Rock Ave Unit 2 New Haven, CT	2.0	1.0	1500	$2,000	$1.33	45d	1	0.56mi
315 Alden Ave Unit 1 New Haven, CT	2.0	2.0	1212	$1,915	$1.58	45d	1	0.60mi
188 Fountain St Unit 3 New Haven, CT	2.0	1.0	926	$2,800	$3.02	45d	1	0.61mi
252 Goffe Ter Unit 3 New Haven, CT	3.0	1.0	1100	$1,995	$1.81	16d	1	0.70mi
252 Goffe Ter Unit 2 New Haven, CT	3.0	1.0	1191	$2,000	$1.68	5d	1	0.70mi
252 Goffe Ter Unit 2 New Haven, CT	3.0	1.0	1191	$2,000	$1.68	16d	1	0.70mi
37 Fairfield St Unit 2nd Floor New Haven, CT	2.0	1.0	1233	$1,850	$1.50	25d	1	0.71mi
1253 Forest Rd #2 New Haven, CT	2.0	1.0	1100	$2,250	$2.05	25d	1	0.71mi
48 Pardee Pl New Haven, CT	2.0	1.0	1000	$1,800	$1.80	25d	1	0.71mi
209 Willard St Unit 3 New Haven, CT	1.0	1.0	957	$1,800	$1.88	45d	1	0.72mi
218 W Rock Ave #3 New Haven, CT	2.0	1.0	924	$1,800	$1.95	5d	1	0.76mi
253 W Elm St Unit 2 New Haven, CT	3.0	1.0	1434	$2,650	$1.85	4d	1	0.77mi
26 Whittlesey Ave Unit 2 New Haven, CT	3.0	1.0	1300	$1,900	$1.46	16d	1	0.77mi
26 Whittlesey Ave Unit 1 New Haven, CT	3.0	1.0	1300	$1,900	$1.46	45d	1	0.77mi
69 Fairfield St New Haven, CT	2.0	1.0	1280	$1,900	$1.48	25d	1	0.77mi
134 Hubinger St Unit 2 New Haven, CT	3.0	2.0	1358	$2,700	$1.99	25d	1	0.77mi
134 Hubinger St Unit 2 New Haven, CT	3.0	2.0	1358	$2,700	$1.99	45d	1	0.77mi
101 E Ramsdell St New Haven, CT	2.0	1.0	995	$1,555	$1.56	16d	4	0.79mi
207 Alden Ave Unit 3 New Haven, CT	1.0	1.0	900	$1,750	$1.94	20d	1	0.80mi
306 Pine Rock Ave Unit D11 Hamden, CT	2.0	1.0	825	$1,600	$1.94	4d	1	0.80mi
47 W Prospect St Unit 2 New Haven, CT	2.0	1.0	1298	$2,450	$1.89	5d	1	0.80mi
52 Hilltop Rd Unit 52 New Haven, CT	2.0	1.0	1000	$1,800	$1.80	45d	1	0.81mi
43 W Prospect St Unit 3 New Haven, CT	2.0	1.0	1250	$2,575	$2.06	4d	1	0.81mi
55 Marvel Rd Unit B1 New Haven, CT	1.0	1.0	1200	$2,000	$1.67	16d	1	0.87mi
55 Marvel Rd Unit A3 New Haven, CT	3.0	1.0	1300	$2,750	$2.12	4d	1	0.87mi
126 Hobart St Unit 1 New Haven, CT	2.0	1.0	1212	$1,850	$1.53	25d	1	0.89mi
471 Whalley Ave Unit D New Haven, CT	2.0	2.0	1150	$2,200	$1.91	45d	1	0.90mi
111 Hobart St Apt 2 New Haven, CT	3.0	1.0	1220	$2,500	$2.05	45d	1	0.93mi
42 Warner St Hamden, CT	1.0–3.0	1.0–1.5	1017	$1,888	$1.86	4d	5	0.93mi
42 Warner St Hamden, CT	2.0	1.0	734	$1,850	$2.52	23d	1	0.93mi
109 Hobart St Apt 1 New Haven, CT	3.0	1.0	1220	$2,500	$2.05	45d	1	0.93mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-21
   days on market $199,999 Active 124 DOM
2. 2026-06-18
   days on market $199,999 Active 121 DOM
3. 2026-06-17
   days on market $199,999 Active 120 DOM
4. 2026-06-16
   days on market $199,999 Active 119 DOM
5. 2026-06-15
   days on market $199,999 Active 118 DOM
6. 2026-06-14
   days on market $199,999 Active 116 DOM
7. 2026-06-13
   days on market $199,999 Active 115 DOM
8. 2026-06-10
   days on market $199,999 Active 113 DOM
9. 2026-06-09
   days on market $199,999 Active 112 DOM
10. 2026-06-08
    days on market $199,999 Active 111 DOM
11. 2026-06-07
    days on market $199,999 Active 110 DOM
12. 2026-06-05
    days on market $199,999 Active 107 DOM
13. 2026-06-03
    days on market $199,999 Active 106 DOM
14. 2026-06-03
    days on market $199,999 Active 105 DOM
15. 2026-06-01
    days on market $199,999 Active 104 DOM
16. 2026-05-31
    days on market $199,999 Active 103 DOM
17. 2026-04-11
    price $199,999 822-char remark

    Show marketing remark (822 chars)

    Welcome to this bright and inviting condo ideally located just minutes from West Rock Ridge State Park, Westville Village, SCSU, and downtown New Haven. This well-maintained unit offers two generously sized bedrooms with ample closet space and a comfortable, open-concept layout. Enjoy central air and seamless indoor-outdoor living with sliders from the living and dining areas leading to your private deck overlooking a serene, wooded setting. One assigned off-street parking space is included. Pet friendly-one dog (30 lbs or less) or one cat permitted. Conveniently situated near Edgewood Park, Yale University, Yale New Haven Hospital, UNH, and major parkways. Located in a Yale Homebuyer neighborhood. A wonderful opportunity to enjoy both convenience and tranquility in a sought-after location. SOLD AS IS WHERE IS.

18. 2026-02-17
    listed $215,000 Active 822-char remark

    Show marketing remark (822 chars)

    Welcome to this bright and inviting condo ideally located just minutes from West Rock Ridge State Park, Westville Village, SCSU, and downtown New Haven. This well-maintained unit offers two generously sized bedrooms with ample closet space and a comfortable, open-concept layout. Enjoy central air and seamless indoor-outdoor living with sliders from the living and dining areas leading to your private deck overlooking a serene, wooded setting. One assigned off-street parking space is included. Pet friendly-one dog (30 lbs or less) or one cat permitted. Conveniently situated near Edgewood Park, Yale University, Yale New Haven Hospital, UNH, and major parkways. Located in a Yale Homebuyer neighborhood. A wonderful opportunity to enjoy both convenience and tranquility in a sought-after location. SOLD AS IS WHERE IS.

19. 2001-08-31
    soldstatus $62,000 223-char remark

    Show marketing remark (223 chars)

    Immaculate updated 2nd floor ranch at mountain view condominiums! Ample closet space/washer & dryer hookups in unit/neutral decor/attic may be converted to loft/garage avail for bid/poa includes water & sewer charge

20. 2001-06-14
    listed $55,999 223-char remark

    Show marketing remark (223 chars)

    Immaculate updated 2nd floor ranch at mountain view condominiums! Ample closet space/washer & dryer hookups in unit/neutral decor/attic may be converted to loft/garage avail for bid/poa includes water & sewer charge

21. 1997-12-05
    soldstatus $22,500

ⓘ 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: $2,974 · $248/mo
• Projected year-2 tax: $3,627 · $302/mo
• Expected delta: +$653/yr (+$54/mo · 22.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,594
• − Mortgage interest: −$11,203
• − Property taxes: −$2,974
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − HOA: −$5,160
• − Depreciation: −$5,818
• Taxable loss: −$5,496
• Est. tax savings @ 24.0%: +$1,319
• After-tax cash flow: $-971/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): 19,006
• Household income: $73,709
• Rent vs Own: 58.5% rent · 41.5% own
• Severe rent burden: 1156.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 38% Black 31% Hispanic / Latino 21% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 14%
• Common ancestry: Romanian 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 78% English-only · Spanish 15% Other Indo-European 2% Chinese 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: ▼ -44.45%
• Current HPI: 317.0482
• Rent YoY: ▲ 2.42%
• 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

+788.9% since first listed

5 events — show timeline

• 2026-04-11 Price Changed $199,999 Smart MLS
• 2026-02-17 Listed $215,000 Smart MLS
• 2001-08-31 Sold (MLS) $62,000 Smart MLS
• 2001-06-14 Listed $55,999 Smart MLS
• 1997-12-05 Sold (Public Records) $22,500 Public Records

Property tax history

-0.0%/yr

Latest (2023): $2,974 · -6.4% YoY. Source: county tax records.