1412 Whitney Ave Apt J1 · North Haven, CT 06517

$105,000

2 bd · 2.0 ba · 1,360 sqft · Condo public records · 13 Days on market

Built 1987 $310/mo HOA · 12% of rent ↓ 38% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Prime Hamden location just minutes from Yale University, Albertus Magnus College, Southern Connecticut State University, and Downtown New Haven. This condo offers great potential for investors or buyers looking to renovate and customize to their taste. The property requires a complete interior rehab - cash offers or renovation financing only. Excellent opportunity to bring this unit back to life in a desirable and convenient area.

Key facts

• $310 HOA
• Garage
• Built 1987

Tags

• PRIME HAMDEN LOCATION
• COMPLETE INTERIOR REHAB
• DESIRABLE AND CONVENIENT AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $105k).
• Cap rate 13.7% 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.
• Zoned schools: Spring Glen School (math 68% / reading 73%, grade A-, #75 of 553 statewide, top 14%, 370 students, 24% FRL); Hamden High School (math 21% / reading 44%, grade F, #125 of 194 statewide, top 66%, 1,672 students, 39% FRL) — zoned schools at 31% FRL track the district average.
• Zoned-school proficiency averages 52% at this address vs 36% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Hamden School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 84 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $29k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price.

Recommended offer $105,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.38% ✓
• Cap rate: 13.67%
• Cash-on-cash: 26.34%
• DSCR: 2.17
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.21% rent growth · sell at horizon

5-year hold

• IRR: 15.7%
• Equity multiple: 1.60×
• Total profit: $17,660
• Equity at exit: $15,656

10-year hold

• IRR: 21.2%
• Equity multiple: 2.48×
• Total profit: $43,433
• Equity at exit: $9,078

Cash invested: $29,400 (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 06517

• Rents YoY: 0.2%
• Active inventory: 84
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,504 high
• Mortgage (P&I): −$551
• Tax from tax record: −$428 /mo · $5,142/yr
• Insurance: −$44
• HOA: −$310
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $645

Break-even live

Break-even rent $1,687

Max offer price $105,000

Occupancy floor 69%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1410 Whitney Ave Unit B2 Hamden, CT	2.0	1.5	1338	$2,600	$1.94	11d	1	0.02mi
64 N Lake Dr Unit C2 Hamden, CT	3.0	2.0	1475	$2,800	$1.90	2d	1	0.22mi
196 Waite St Hamden, CT	2.0	1.0	1159	$2,700	$2.33	21d	1	0.32mi
30 Coram St Unit Coram 30-2 Hamden, CT	2.0	1.0	1200	$2,350	$1.96	2d	1	0.39mi
30 Coram St Unit Coram 30-1 Hamden, CT	2.0	1.0	1200	$2,650	$2.21	2d	1	0.39mi
30 Coram St Unit 1 Hamden, CT	2.0	1.0	1200	$2,650	$2.21	2d	1	0.39mi
30 Coram St Unit 2 Hamden, CT	2.0	1.0	1200	$2,350	$1.96	11d	1	0.39mi
157 Leeder Hill Dr #206 Hamden, CT	2.0	2.5	1717	$3,000	$1.75	2d	1	0.51mi
53 Lilac Ave Hamden, CT	3.0	1.5	1427	$2,800	$1.96	11d	1	0.55mi
53 Turner Ave Hamden, CT	3.0	1.0	1172	$3,600	$3.07	2d	1	0.58mi
1160 Whitney Ave Hamden, CT	2.0	1.0	900	$2,200	$2.44	2d	1	0.59mi
1160 Whitney Ave Apt A Hamden, CT	2.0	1.0	900	$2,100	$2.33	2d	1	0.59mi
1160 Whitney Ave Unit E Hamden, CT	2.0	1.0	900	$2,250	$2.50	43d	1	0.59mi
380 Mather St Hamden, CT	2.0	1.0–2.0	867	$3,175	$3.66	43d	16	0.67mi
365 Mather St #43 Hamden, CT	2.0	2.0	1100	$2,250	$2.05	2d	1	0.68mi
1047 Whitney Ave Hamden, CT	2.0	1.0	1000	$2,000	$2.00	14d	1	0.79mi
1047 Whitney Ave Unit East Hamden, CT	2.0	1.0	1000	$2,000	$2.00	2d	1	0.79mi
38 Grandview Ave Hamden, CT	3.0	1.5	1658	$3,650	$2.20	3d	1	1.03mi
317 Mill Rock Rd Hamden, CT	3.0	2.0	1102	$2,400	$2.18	43d	1	1.04mi
351 Mill Rock Rd Unit 351 Hamden, CT	3.0	1.5	1102	$4,500	$4.08	2d	1	1.06mi
89 Beacon St Unit 2nd Floor Hamden, CT	3.0	1.0	1200	$2,000	$1.67	2d	1	1.11mi
97 Beacon St Unit 3rd fl Hamden, CT	2.0	1.0	1100	$1,850	$1.68	2d	1	1.13mi
97 Beacon St Unit 1st Fl Hamden, CT	2.0	1.0	1178	$2,050	$1.74	2d	1	1.13mi
11 Gorham Ave Hamden, CT	2.0	1.0	900	$1,700	$1.89	2d	1	1.17mi
70 Circular Ave Hamden, CT	3.0	1.0	1100	$2,100	$1.91	2d	1	1.17mi
1166 Dixwell Ave Unit 6 Hamden, CT	2.0	1.0	900	$1,450	$1.61	2d	1	1.23mi
54 Bradley Ave Unit 2 Hamden, CT	3.0	1.0	1100	$1,895	$1.72	43d	1	1.25mi
98 Kaye Vue Dr Hamden, CT	2.0	1.0	930	$1,995	$2.15	21d	1	1.28mi
30 Olds St Hamden, CT	3.0	1.0	1248	$3,500	$2.80	3d	1	1.31mi
130 Woodin St Hamden, CT	2.0	1.0	1500	$2,000	$1.33	43d	1	1.43mi
1887 State St Hamden, CT	1.0	1.0	1020	$1,675	$1.64	2d	1	1.44mi
304 Fairview Ave Hamden, CT	3.0	1.5	1140	$2,700	$2.37	18d	1	1.48mi
1857 State St #3 Hamden, CT	2.0	1.0	938	$1,700	$1.81	2d	1	1.48mi
1857 State St Unit 1 Hamden, CT	2.0	1.0	938	$1,900	$2.03	2d	1	1.48mi

HOA detail condo

• Monthly dues: $310 · $3,720/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2025-11-12
   status Under Contract
2. 2025-11-02
   historical Under Contract - Continue to Show
3. 2025-10-28
   listed $105,000 Active
4. 1988-05-01
   soldstatus $170,000

ⓘ 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: $5,142 · $428/mo
• Projected year-2 tax: $5,142 · $428/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $30,049
• − Mortgage interest: −$5,882
• − Property taxes: −$5,142
• − Insurance: −$525
• − Repairs & maintenance: −$2,404
• − Management: −$2,404
• − HOA: −$3,720
• − Depreciation: −$3,055
• Taxable income: $6,918
• Est. tax owed @ 24.0%: −$1,660
• After-tax cash flow: $6,084/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): 14,221
• Household income: $104,550
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 531.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Black 19% Hispanic / Latino 17% Two or more races 7% Asian 2%
• Hispanic origin (detail): Puerto Rican 11% Dominican 2%
• Common ancestry: Romanian 5% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 12% · Canada, Jamaica, United Kingdom
• Languages at home: 80% English-only · Spanish 12% French/Haitian/Cajun 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: ▼ -204.00%
• Current HPI: 255.2756
• Rent YoY: ▲ 0.21%
• 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

-38.2% since first listed

4 events — show timeline

• 2025-11-12 Pending — Smart MLS
• 2025-11-02 Contingent — Smart MLS
• 2025-10-28 Listed $105,000 Smart MLS
• 1988-05-01 Sold (Public Records) $170,000 Public Records

Property tax history

-0.1%/yr

Latest (2023): $5,142 · +1.6% YoY. Source: county tax records.