63 Gorham Ave · Hamden, CT 06514

$479,000

6 bd · 3.0 ba · 3,289 sqft · MultiFamily public records · 132 Days on market

Built 1930 4,791 sqft lot $146/sqft · at area comps Est $497k · at est.

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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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +9.1/15.0
• 1% rule +8.2/10.0
• Rent growth +3.7/5.0
• Schools +3.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Spacious 3 family in great neighborhood! Walk to everything: shopping, busline, park/ Very commutable to hospitals, Southern Connecticut State University, Yale and Quinnipiac.

Key facts

• Great neighborhood
• Walk to everything
• Commutable to yale

Tags

• GREAT NEIGHBORHOOD
• WALK TO EVERYTHING
• COMMUTABLE TO HOSPITALS
• COMMUTABLE TO YALE
• COMMUTABLE TO QUINNIPIAC

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $479k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $443/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $479k).
• Recommended offer: $422k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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 rising fast (+4.6%/yr); 107 active listings in the ZIP; solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $6,310/mo this rent would consume 85% of the median local household income ($89k/yr) (locally 1228% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $134k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $345k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $421,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.32% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.89%
• DSCR: 1.53
• GRM: 6.3

CMA / ARV

• ARV (median comp): $497,055
• List price: $479,000
• Delta: -3.63%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34 Bradley Ave	0.03mi	5/3.0 (-1)	3,283 (-0%)	15mo	$475,000	$145	80
116 Helen St	0.11mi	6/3.0	3,426 (+4%)	9mo	$457,000	$133	80
75 Concord St	0.35mi	6/3.0	3,016 (-8%)	1mo	$549,000	$182	69
203 Helen St	0.23mi	6/3.0	3,038 (-8%)	11mo	$550,000	$181	68
106 Helen St	0.11mi	6/2.0	3,103 (-6%)	19mo	$420,000	$135	66
42 Collins St	0.18mi	5/3.0 (-1)	3,035 (-8%)	12mo	$460,000	$152	64
47 Beacon St	0.30mi	7/3.0 (+1)	3,076 (-6%)	10mo	$555,000	$180	62
16-18 3rd St	0.35mi	5/3.0 (-1)	3,116 (-5%)	20mo	$450,000	$144	53
78 Church St	0.38mi	6/3.0	2,853 (-13%)	10mo	$440,000	$154	52
1492 Dixwell Ave	0.48mi	6/4.0	2,960 (-10%)	8mo	$580,000	$196	50
207 Helen St	0.23mi	7/3.0 (+1)	2,795 (-15%)	14mo	$540,000	$193	47
57 North St	0.45mi	6/2.0	2,931 (-11%)	12mo	$412,000	$141	47

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 · 4.61% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.13×
• Total profit: $17,707
• Equity at exit: $71,420

10-year hold

• IRR: 14.5%
• Equity multiple: 2.27×
• Total profit: $169,687
• Equity at exit: $41,415

Cash invested: $134,120 (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: 107
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $6,310 high
• Mortgage (P&I): −$2,512
• Tax from tax record: −$945 /mo · $11,335/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,325
• Net cashflow: $1,329

Break-even live

Break-even rent $4,628

Max offer price $479,000

Occupancy floor 74%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,309
Total (3 units)			$6,310

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $479,000 Active 132 DOM
2. 2026-06-17
   days on market $479,000 Active 131 DOM
3. 2026-06-16
   days on market $479,000 Active 130 DOM
4. 2026-06-15
   days on market $479,000 Active 129 DOM
5. 2026-06-14
   days on market $479,000 Active 127 DOM
6. 2026-06-13
   days on market $479,000 Active 126 DOM
7. 2026-06-10
   days on market $479,000 Active 124 DOM
8. 2026-06-09
   days on market $479,000 Active 123 DOM
9. 2026-06-08
   days on market $479,000 Active 122 DOM
10. 2026-06-07
    days on market $479,000 Active 121 DOM
11. 2026-06-05
    days on market $479,000 Active 118 DOM
12. 2026-06-03
    days on market $479,000 Active 117 DOM
13. 2026-06-03
    days on market $479,000 Active 116 DOM
14. 2026-06-01
    days on market $479,000 Active 115 DOM
15. 2026-05-31
    days on market $479,000 Active 114 DOM
16. 2026-04-24
    price $479,000 175-char remark

    Show marketing remark (175 chars)

    Spacious 3 family in great neighborhood! Walk to everything: shopping, busline, park/ Very commutable to hospitals, Southern Connecticut State University, Yale and Quinnipiac.

17. 2026-02-06
    listed $500,000 Active 175-char remark

    Show marketing remark (175 chars)

    Spacious 3 family in great neighborhood! Walk to everything: shopping, busline, park/ Very commutable to hospitals, Southern Connecticut State University, Yale and Quinnipiac.

18. 2022-02-03
    soldstatus $345,000
19. 2022-01-28
    soldstatus $345,000 Closed 174-char remark

    Show marketing remark (174 chars)

    Large Hamden multi family home available. Units in really nice condition. Gas heating utilities. Two car detached garage. Mandated Hamden Fire marshal inspected & passed.

20. 2021-10-15
    price $357,000 174-char remark

    Show marketing remark (174 chars)

    Large Hamden multi family home available. Units in really nice condition. Gas heating utilities. Two car detached garage. Mandated Hamden Fire marshal inspected & passed.

21. 2021-10-01
    listed $367,000 Active 174-char remark

    Show marketing remark (174 chars)

    Large Hamden multi family home available. Units in really nice condition. Gas heating utilities. Two car detached garage. Mandated Hamden Fire marshal inspected & passed.

22. 2014-01-21
    soldstatus $223,000
23. 2014-01-15
    soldstatus $223,000
24. 2013-09-11
    historical
25. 2013-08-19
    listed $225,000
26. 2013-03-11
    listed $240,000
27. 1988-06-01
    soldstatus $200,000

ⓘ 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: $11,335 · $945/mo
• Projected year-2 tax: $11,335 · $945/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 ≥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 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,720
• − Mortgage interest: −$26,831
• − Property taxes: −$11,335
• − Insurance: −$2,395
• − Repairs & maintenance: −$6,058
• − Management: −$6,058
• − Depreciation: −$13,935
• Taxable income: $9,109
• Est. tax owed @ 24.0%: −$2,186
• After-tax cash flow: $13,760/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 — Hamden

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: New Haven County · 688,236 people
• City population: 61,150
• 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

+139.5% since first listed

12 events — show timeline

• 2026-04-24 Price Changed $479,000 Smart MLS
• 2026-02-06 Listed $500,000 Smart MLS
• 2022-02-03 Sold (Public Records) $345,000 Public Records
• 2022-01-28 Sold (MLS) $345,000 Smart MLS
• 2021-10-15 Price Changed $357,000 Smart MLS
• 2021-10-01 Listed $367,000 Smart MLS
• 2014-01-21 Sold (Public Records) $223,000 Public Records
• 2014-01-15 Sold (MLS) $223,000 Smart MLS
• 2013-09-11 Listing Removed — Smart MLS
• 2013-08-19 Listed $225,000 Smart MLS
• 2013-03-11 Listed $240,000 Smart MLS
• 1988-06-01 Sold (Public Records) $200,000 Public Records

Property tax history

+5.8%/yr

Latest (2023): $11,335 · +1.6% YoY. Source: county tax records.