216 Quinnipiac Ave #101 · North Haven, CT 06473

$189,900

2 bd · 1.0 ba · 1,178 sqft · Condo public records · 3 Days on market

Built 1984 $347/mo HOA · 17% 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).

• Cash flow +14.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +5.2/10.0
• DSCR +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Lovely 2 Bedroom Ranch condo on the first floor corner unit! This 55+ community ! The unit has Gas Heat and Central Air! Coin operated right next door. Lovely Rear Patio sitting Area.

Key facts

• Gas heat
• Rear patio
• Central air

Tags

• GAS HEAT
• CENTRAL AIR
• REAR PATIO

Property features AI

Finance

• Other: No pets allowed
• HOA & community: Monthly HOA fee; HOA fee covers grounds maintenance, trash pickup, snow removal, property management, pest control and insurance

Exterior

• Parking: Assigned parking (1 space)
• Utilities: Public water; Public sewer
• Home design: Condominium (unit in complex Eaton Place); End unit; Unit located on floor 1; 3 levels in unit
• Construction: Brick construction
• Exterior features: Brick siding; Level lot

Interior

• Kitchen: Oven/Range; Range hood; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Natural gas heating
• Interior features: Central air conditioning; Full basement
• Laundry & utility: Common laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $27 ($324/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 6.5% 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-.
• North Haven School District (suburban): math 49% / reading 64% proficiency, ranked #55 of 153 in CT (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: North Haven Middle School (math 45% / reading 68%, grade B, #59 of 175 statewide, top 34%, 724 students, 22% FRL); North Haven High School (math 41% / reading 64%, grade C-, #79 of 194 statewide, top 40%, 921 students, 25% FRL) — zoned schools average 24% FRL vs 8% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 78 active listings in the ZIP; 3 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).

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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $119k; list at $190k implies a 60% gain — meaningful room to come down on a strong offer.

Recommended offer $189,900

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 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 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: 1.08% ✓
• Cap rate: 6.46%
• Cash-on-cash: 0.61%
• DSCR: 1.03
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.2%
• Equity multiple: 0.46×
• Total profit: $-28,854
• Equity at exit: $28,315

10-year hold

• IRR: -6.4%
• Equity multiple: 0.58×
• Total profit: $-22,097
• Equity at exit: $16,419

Cash invested: $53,172 (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 06473

• Active inventory: 78
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,046 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$168 /mo · $2,010/yr
• Insurance: −$79
• HOA: −$347
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $27

Break-even live

Break-even rent $2,012

Max offer price $189,900

Occupancy floor 94%

Sensitivity live

Price	-10% $134	-5% $81	+0% $27	+5% $-27	+10% $-81
Rent	-10% $-135	-5% $-54	+0% $27	+5% $108	+10% $189
Rate	-1.0pp $123	-0.5pp $75	base $27	+0.5pp $-22	+1.0pp $-72

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 Glen Haven Rd New Haven, CT	2.0	1.0	900	$1,850	$2.06	16d	1	1.00mi
533 Quinnipiac Ave North Haven, CT	3.0	1.0	1468	$2,500	$1.70	4d	1	1.16mi
631 Middletown Ave New Haven, CT	2.0	1.0	932	$1,775	$1.90	46d	1	1.31mi

HOA detail condo

• Monthly dues: $347 · $4,164/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-22
   days on market $189,900 Active 3 DOM
2. 2026-06-18
   remarks 183-char remark
3. 2026-06-18
   listed $189,900 Active 1 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: $2,010 · $168/mo
• Projected year-2 tax: $3,037 · $253/mo
• Expected delta: +$1,027/yr (+$86/mo · 51.1%)

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

Taxation est. · year 1

• Rental income: $24,554
• − Mortgage interest: −$10,637
• − Property taxes: −$2,010
• − Insurance: −$950
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − HOA: −$4,164
• − Depreciation: −$5,524
• Taxable loss: −$2,660
• Est. tax savings @ 24.0%: +$638
• After-tax cash flow: $962/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: North Haven School District
• NCES district ID: 0903030
• Math proficiency: 49% ▼ -12.00%
• Reading proficiency: 64% ▼ -8.00%
• Median HH income: $85,727
• Composite: 51.53/100
• National rank: #1714
• State rank: #55 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

• Census place: North Haven, CT
• City population: 24,527
• Population (ZIP): 24,527

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 7% Asian 7% Two or more races 6% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 7% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 11% · China, South Korea, Canada
• Languages at home: 86% English-only · Other Indo-European 4% Spanish 3% Chinese 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: ▼ -294.57%
• Current HPI: 168.0717
• Rent YoY: —
• Metro: —
• 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

+146.6% since first listed

3 events — show timeline

• 2026-06-18 Listed $189,900 Smart MLS
• 2011-03-08 Sold (Public Records) $119,000 Public Records
• 1996-02-29 Sold (Public Records) $77,000 Public Records

Property tax history

-0.9%/yr

Latest (2023): $2,010 · +6.3% YoY. Source: county tax records.