88 E Gate Ln #88 · North Haven, CT 06514

$269,900

2 bd · 1.5 ba · 1,728 sqft · Condo · 58 Days on market

Built 1974 Poor condition $384/mo HOA · 12% 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 +16.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• DSCR +5.3/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Schools +3.3/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to East Gate, a well maintained complex with a beautiful park like setting just minutes from everything! Come unwind in this spacious 2 bedroom, 1.5 bath townhouse. The main level features an updated kitchen with stainless steel appliances, including a built-in microwave, a dishwasher and a gas stove. The living room/dining room has an open floorplan, giving you lots of room to entertain plus the flexibility of having options when it comes to your layout. Completing the first floor is an updated 1/2 bath. Head upstairs to your private living space with two nicely sized bedrooms each offering plenty of closet space. These bedrooms share an updated bathroom with a tub/shower combo. Conveniently located in the lower level is your laundry room as well as a large living space with a walkout. This area would make a great family room, an office or even a home gym. The lower level has sliders out to your own backyard space with woods behind giving you some nice privacy. The gas boiler, hot water heater and air conditioning have all been updated and are ready for you to start enjoying! This wonderful complex includes an inground pool, tennis courts, club house, covered picnic area and fenced in playground. There is assigned parking, plus plenty of parking for your guests as well. Convenient location just minutes to Hamden center, highways, Quinnipiac, SCSU and 10 minutes to Downtown New Haven and Yale!

Key facts

• Private backyard
• Tennis courts
• Finished basement

Tags

• NEW APPLIANCES
• OPEN-CONCEPT LIVING
• FINISHED BASEMENT
• PRIVATE BACKYARD
• INGROUND POOL
• TENNIS COURTS

Property features AI

Finance

• Other: Part of a 151-unit complex
• HOA & community: Monthly HOA fee; HOA covers grounds maintenance, trash pickup, snow removal, water, sewer, property management, and pool service; Professional off-site property management; Pets allowed with restrictions (dog or cat permitted)

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas hot water and heat
• Home design: Condominium unit in a multi-unit complex (East Gate); Three-story unit
• Construction: Other construction type
• Exterior features: Wood siding; Patio; Sidewalk; Lighting; Tennis court on the property; In-ground swimming pool; Lightly wooded, level lot

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Dishwasher
• Bedrooms: Two bedrooms
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Hot air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans throughout; Central air conditioning; Full, finished heated basement with interior access and walk-out; Basement provides storage and additional livable space; Three levels in unit; Five total rooms
• Laundry & utility: Washer and dryer located on the lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $270k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $262k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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: Hamden High School (math 21% / reading 44%, grade F, #125 of 194 statewide, top 66%, 1,672 students, 39% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 105 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 42% of the median local income ($89k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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 $171k; list at $270k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $261,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.14% ✓
• Cap rate: 7.09%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.61% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.64×
• Total profit: $-26,940
• Equity at exit: $40,243

10-year hold

• IRR: 2.4%
• Equity multiple: 1.18×
• Total profit: $13,896
• Equity at exit: $23,336

Cash invested: $75,572 (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 06514

• Rents YoY: 4.6%
• Active inventory: 105
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $3,075 high
• Mortgage (P&I): −$1,415
• Tax est. 1.5%: −$337 /mo · $4,048/yr
• Insurance: −$112
• HOA: −$384
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $180

Break-even live

Break-even rent $2,847

Max offer price $269,900

Occupancy floor 89%

Sensitivity live

Price	-10% $366	-5% $273	+0% $180	+5% $87	+10% $-7
Rent	-10% $-63	-5% $58	+0% $180	+5% $301	+10% $423
Rate	-1.0pp $316	-0.5pp $248	base $180	+0.5pp $110	+1.0pp $39

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Canterbury Rd #9 Hamden, CT	2.0	2.0	2039	$4,280	$2.10	4d	1	0.02mi
676 Mix Ave Hamden, CT	2.0	1.0–2.0	810	$2,200	$2.72	4d	1	0.26mi
835 E Mix Ave Unit 6305 Hamden, CT	2.0	2.0	1217	$2,395	$1.97	4d	1	0.28mi
865 Mix Ave Hamden, CT	1.0–2.0	1.0–2.0	1028	$2,645	$2.57	4d	5	0.33mi
925 Mix Ave Hamden, CT	2.0	1.0–1.5	830	$3,025	$3.64	4d	3	0.39mi
365 Mather St #43 Hamden, CT	2.0	2.0	1100	$2,250	$2.05	4d	1	1.14mi
380 Mather St Hamden, CT	2.0	1.0–2.0	867	$3,175	$3.66	45d	16	1.20mi
100 Town Walk Dr Hamden, CT	1.0–3.0	1.0–2.0	1064	$2,464	$2.32	4d	36	1.23mi
65 Buell St North Haven, CT	3.0	1.5	1288	$3,595	$2.79	12d	1	1.35mi
30 Coram St Unit Coram 30-2 Hamden, CT	2.0	1.0	1200	$2,350	$1.96	4d	1	1.35mi
30 Coram St Unit 2 Hamden, CT	2.0	1.0	1200	$2,350	$1.96	12d	1	1.35mi
30 Coram St Unit Coram 30-1 Hamden, CT	2.0	1.0	1200	$2,650	$2.21	4d	1	1.35mi
30 Coram St Unit 1 Hamden, CT	2.0	1.0	1200	$2,650	$2.21	4d	1	1.35mi
1800 Aspen Glen Dr Hamden, CT	1.0–2.0	1.0–2.0	997	$2,705	$2.71	4d	5	1.41mi
38 Grandview Ave Hamden, CT	3.0	1.5	1658	$3,650	$2.20	4d	1	1.44mi

HOA detail condo

• Monthly dues: $384 · $4,608/yr
• Likely covers: watergaspoolgymparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-04-17
   historical Under Contract - Continue to Show
2. 2026-03-31
   listed $269,900 Active
3. 2021-05-18
   soldstatus $171,000 Closed 1424-char remark

   Show marketing remark (1424 chars)

   Welcome to East Gate, a well maintained complex with a beautiful park like setting just minutes from everything! Come unwind in this spacious 2 bedroom, 1.5 bath townhouse. The main level features an updated kitchen with stainless steel appliances, including a built-in microwave, a dishwasher and a gas stove. The living room/dining room has an open floorplan, giving you lots of room to entertain plus the flexibility of having options when it comes to your layout. Completing the first floor is an updated 1/2 bath. Head upstairs to your private living space with two nicely sized bedrooms each offering plenty of closet space. These bedrooms share an updated bathroom with a tub/shower combo. Conveniently located in the lower level is your laundry room as well as a large living space with a walkout. This area would make a great family room, an office or even a home gym. The lower level has sliders out to your own backyard space with woods behind giving you some nice privacy. The gas boiler, hot water heater and air conditioning have all been updated and are ready for you to start enjoying! This wonderful complex includes an inground pool, tennis courts, club house, covered picnic area and fenced in playground. There is assigned parking, plus plenty of parking for your guests as well. Convenient location just minutes to Hamden center, highways, Quinnipiac, SCSU and 10 minutes to Downtown New Haven and Yale!

4. 2021-04-03
   historical Under Contract - Continue to Show 1424-char remark

   Show marketing remark (1424 chars)

   Welcome to East Gate, a well maintained complex with a beautiful park like setting just minutes from everything! Come unwind in this spacious 2 bedroom, 1.5 bath townhouse. The main level features an updated kitchen with stainless steel appliances, including a built-in microwave, a dishwasher and a gas stove. The living room/dining room has an open floorplan, giving you lots of room to entertain plus the flexibility of having options when it comes to your layout. Completing the first floor is an updated 1/2 bath. Head upstairs to your private living space with two nicely sized bedrooms each offering plenty of closet space. These bedrooms share an updated bathroom with a tub/shower combo. Conveniently located in the lower level is your laundry room as well as a large living space with a walkout. This area would make a great family room, an office or even a home gym. The lower level has sliders out to your own backyard space with woods behind giving you some nice privacy. The gas boiler, hot water heater and air conditioning have all been updated and are ready for you to start enjoying! This wonderful complex includes an inground pool, tennis courts, club house, covered picnic area and fenced in playground. There is assigned parking, plus plenty of parking for your guests as well. Convenient location just minutes to Hamden center, highways, Quinnipiac, SCSU and 10 minutes to Downtown New Haven and Yale!

5. 2021-03-28
   listed $160,000 Active 1424-char remark

   Show marketing remark (1424 chars)

   Welcome to East Gate, a well maintained complex with a beautiful park like setting just minutes from everything! Come unwind in this spacious 2 bedroom, 1.5 bath townhouse. The main level features an updated kitchen with stainless steel appliances, including a built-in microwave, a dishwasher and a gas stove. The living room/dining room has an open floorplan, giving you lots of room to entertain plus the flexibility of having options when it comes to your layout. Completing the first floor is an updated 1/2 bath. Head upstairs to your private living space with two nicely sized bedrooms each offering plenty of closet space. These bedrooms share an updated bathroom with a tub/shower combo. Conveniently located in the lower level is your laundry room as well as a large living space with a walkout. This area would make a great family room, an office or even a home gym. The lower level has sliders out to your own backyard space with woods behind giving you some nice privacy. The gas boiler, hot water heater and air conditioning have all been updated and are ready for you to start enjoying! This wonderful complex includes an inground pool, tennis courts, club house, covered picnic area and fenced in playground. There is assigned parking, plus plenty of parking for your guests as well. Convenient location just minutes to Hamden center, highways, Quinnipiac, SCSU and 10 minutes to Downtown New Haven and Yale!

6. 2014-08-25
   historical
7. 2014-06-03
   listed $133,500
8. 2014-06-03
   historical
9. 2014-02-24
   listed $138,500
10. 2007-01-09
    soldstatus $165,000
11. 2006-10-02
    listed $174,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% 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: $36,897
• − Mortgage interest: −$15,119
• − Property taxes: −$4,048
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,952
• − Management: −$2,952
• − HOA: −$4,608
• − Depreciation: −$7,852
• Taxable loss: −$1,983
• Est. tax savings @ 24.0%: +$476
• After-tax cash flow: $2,634/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including landscaping, exterior siding, and interior walls/paint. Significant updates are needed to improve its condition and value.

Repairs flagged

• Major landscaping — Overgrown vegetation needs trimming
• Major exterior siding — Signs of wear and tear
• Major roof — No visible damage, but photos don't show
• Major interior walls/paint — No visible walls/paint, photos don't show
• Major bathrooms — No visible bathrooms, photos don't show
• Major kitchen — No visible kitchen, photos don't show
• Major HVAC/mechanicals — No visible HVAC/mechanicals, photos don't show
• Major landscaping — Overgrown vegetation

Value-add opportunities

• Both landscaping — Improves curb appeal and property value
• Both exterior siding — Enhances property value and curb appeal
• Both interior walls/paint — Enhances property value and curb appeal
• Both bathrooms — Enhances property value and curb appeal
• Both kitchen — Enhances property value and curb appeal
• Both HVAC/mechanicals — Enhances property value and curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
landscaping · Overgrown vegetation needs trimming	Major	$15,000–50,000
exterior siding · Signs of wear and tear	Major	$15,000–50,000
roof · No visible damage, but photos don't show	Major	$15,000–50,000
interior walls/paint · No visible walls/paint, photos don't show	Major	$15,000–50,000
bathrooms · No visible bathrooms, photos don't show	Major	$15,000–50,000
kitchen · No visible kitchen, photos don't show	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC/mechanicals, photos don't show	Major	$15,000–50,000
landscaping · Overgrown vegetation	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both landscaping — Improves curb appeal and property value ↑
• Both exterior siding — Enhances property value and curb appeal ↑
• Both interior walls/paint — Enhances property value and curb appeal ↑
• Both bathrooms — Enhances property value and curb appeal ↑
• Both kitchen — Enhances property value and curb appeal ↑
• Both HVAC/mechanicals — Enhances property value and curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 26,803
• Household income: $88,900
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 1228.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 43% Black 33% Hispanic / Latino 16% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Dominican 2%
• Common ancestry: Romanian 5% German 2% Lithuanian 2%
• Foreign-born: 15% · Canada, Jamaica, China
• Languages at home: 80% English-only · Spanish 10% Arabic 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: ▼ -222.59%
• Current HPI: 251.556
• Rent YoY: ▲ 4.61%
• 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

+55.1% since first listed

11 events — show timeline

• 2026-04-17 Contingent — Smart MLS
• 2026-03-31 Listed $269,900 Smart MLS
• 2021-05-18 Sold (MLS) $171,000 Smart MLS
• 2021-04-03 Contingent — Smart MLS
• 2021-03-28 Listed $160,000 Smart MLS
• 2014-08-25 Listing Removed — Smart MLS
• 2014-06-03 Listing Removed — Smart MLS
• 2014-06-03 Listed $133,500 Smart MLS
• 2014-02-24 Listed $138,500 Smart MLS
• 2007-01-09 Sold (MLS) $165,000 Smart MLS
• 2006-10-02 Listed $174,000 Smart MLS