118 Centerbrook Rd · Hamden, CT 06518

$170,000

3 bd · 1.5 ba · 1,195 sqft · Condo · 49 Days on market

Built 1967 Good condition $973/mo HOA ↓ 8% since listing

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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 +10.5/30.0
• 1% rule +10.0/10.0
• ARV discount +6.1/15.0
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• DSCR +3.0/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Simplify your lifestyle in this spacious townhouse co-op unit at First Meadowbrook! Large bright open concept living and dining room combo with a wall of windows and door to the private back patio, with many perennials and looks out to a common back yard. Bright white kitchen with large window to let in the natural light. Ceiling fans in kitchen and DR. A 1/2 bath and large hall closet complete the first floor. One of only several units with 3 bedrooms all with double closets. Gorgeous hardwood floors on main and second floors. Partially finished basement is perfect for office or hobbies and includes a laundry room and more storage. In wall and window a/c units. HEAT/HOT WATER are included

Key facts

• Open concept living
• Bright white kitchen
• Private back patio

Tags

• OPEN CONCEPT LIVING
• PRIVATE BACK PATIO
• BRIGHT WHITE KITCHEN
• FINISHED BASEMENT
• LARGE HALL CLOSET
• HARDWOOD FLOORS

Property features AI

Finance

• Other: Part of a 120-unit complex (First Meadowbrook Co-op); Nearby amenities include health club, library, medical facilities, park, private schools, public transportation and shopping
• Financial info: Pets: one cat allowed (restrictions apply)
• HOA & community: Homeowners association with monthly fee; HOA covers heat, hot water, water, sewer, grounds maintenance, snow removal, property management, insurance and taxes; Association amenities include gardening area and guest parking; Professionally managed off-site

Exterior

• Utilities: Public water connected; Public sewer connected; Water and sewer costs included in HOA; Above-ground fuel tank
• Home design: Co-op unit; Condo/Co-op property
• Construction: Brick construction
• Exterior features: Brick siding; Patio; Garden area; Sidewalk; Exterior lighting; Treed, level lot

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms (in unit spans two levels)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Baseboard heating; Radiator heating; Wall cooling unit; Window cooling unit; Hot water system (other type)
• Interior features: Open floor plan; Cable available; Partially finished full basement with storage, interior access and walk-out
• Laundry & utility: Laundry located on lower level

🏢 Co-op / cooperative unit. The $170,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $170k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (7.3% below list).
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $158k (7.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — 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.
• Zoned schools: Hamden Middle School (math 27% / reading 43%, grade F, #123 of 175 statewide, top 70%, 811 students, 40% FRL); Hamden High School (math 21% / reading 44%, grade F, #125 of 194 statewide, top 66%, 1,672 students, 39% FRL).
• Market conditions: Rents flat; 84 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.
• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,616 (7.3% 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 49 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — 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. 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?
8. 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.
9. 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.
10. 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: 1.54% ✓
• Cap rate: 5.69%
• Cash-on-cash: -2.16%
• DSCR: 0.90
• GRM: 5.4

CMA / ARV

• ARV (median comp): $164,788
• List price: $170,000
• Delta: 3.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -25.3%
• Equity multiple: 0.18×
• Total profit: $-39,192
• Equity at exit: $25,348

10-year hold

• IRR: -51.7%
• Equity multiple: -0.37×
• Total profit: $-65,128
• Equity at exit: $14,698

Cash invested: $47,600 (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 06518

• Rents YoY: 0.3%
• Active inventory: 84
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,610 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA: −$973
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $-86

Break-even live

Break-even rent $2,719

Max offer price $157,616

Occupancy floor 98%

Sensitivity live

Price	-10% $32	-5% $-27	+0% $-86	+5% $-144	+10% $-203
Rent	-10% $-292	-5% $-189	+0% $-86	+5% $18	+10% $121
Rate	-1.0pp $0	-0.5pp $-42	base $-86	+0.5pp $-130	+1.0pp $-174

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2405 Whitney Ave Hamden, CT	2.0	1.5	930	$2,225	$2.39	46d	1	0.49mi
65 Buell St North Haven, CT	3.0	1.5	1288	$3,595	$2.79	13d	1	0.53mi
2 Skiff St Hamden, CT	1.0–2.0	1.0	928	$2,045	$2.20	4d	3	0.55mi
925 Mix Ave Hamden, CT	2.0	1.0–1.5	830	$3,025	$3.64	4d	3	0.61mi
865 Mix Ave Hamden, CT	1.0–2.0	1.0–2.0	1028	$2,645	$2.57	4d	5	0.68mi
175 Mill Pond Rd #324 Hamden, CT	2.0	1.5	977	$1,900	$1.94	20d	1	0.69mi
175 Mill Pond Rd #102 Hamden, CT	2.0	1.5	900	$1,900	$2.11	5d	1	0.69mi
75 Washington Ave Unit 2-317 Hamden, CT	2.0	2.0	992	$1,950	$1.97	45d	1	0.71mi
100 Town Walk Dr Hamden, CT	1.0–3.0	1.0–2.0	1064	$3,020	$2.84	4d	36	0.71mi
835 E Mix Ave Unit 6305 Hamden, CT	2.0	2.0	1217	$2,395	$1.97	4d	1	0.74mi
69 Rentell Rd Hamden, CT	2.0	1.0	1008	$2,900	$2.88	4d	1	0.78mi
1800 Aspen Glen Dr Hamden, CT	1.0–2.0	1.0–2.0	997	$2,705	$2.71	4d	5	0.78mi
56 Edgewood Ave Unit 56 Hamden, CT	2.0	1.5	1260	$3,000	$2.38	45d	1	0.82mi
720 Mix Ave #303 Hamden, CT	2.0	2.0	956	$2,200	$2.30	4d	1	0.94mi
1265 Sherman Ave Hamden, CT	4.0	2.0	1378	$3,400	$2.47	4d	1	1.06mi
676 Mix Ave Hamden, CT	2.0	1.0–2.0	810	$2,200	$2.72	4d	1	1.14mi
98 Kaye Vue Dr Hamden, CT	2.0	1.0	930	$1,995	$2.15	23d	1	1.33mi
17 Hobson Ave Unit 2 Hamden, CT	4.0	2.0	1300	$2,700	$2.08	4d	1	1.34mi
1298 Hartford Tpke North Haven, CT	2.0	2.0	1118	$2,925	$2.62	13d	2	1.40mi

HOA detail condo

• Monthly dues: $973 · $11,676/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   statusdays on market $170,000 Under Contract 49 DOM
2. 2026-06-18
   days on market $170,000 Under Contract - Continue to Show 47 DOM
3. 2026-06-17
   days on market $170,000 Under Contract - Continue to Show 46 DOM
4. 2026-06-16
   days on market $170,000 Under Contract - Continue to Show 45 DOM
5. 2026-06-15
   days on market $170,000 Under Contract - Continue to Show 44 DOM
6. 2026-06-14
   days on market $170,000 Under Contract - Continue to Show 42 DOM
7. 2026-06-13
   days on market $170,000 Under Contract - Continue to Show 41 DOM
8. 2026-06-10
   days on market $170,000 Under Contract - Continue to Show 39 DOM
9. 2026-06-09
   days on market $170,000 Under Contract - Continue to Show 38 DOM
10. 2026-06-08
    days on market $170,000 Under Contract - Continue to Show 37 DOM
11. 2026-06-07
    days on market $170,000 Under Contract - Continue to Show 36 DOM
12. 2026-06-05
    days on market $170,000 Under Contract - Continue to Show 33 DOM
13. 2026-06-03
    days on market $170,000 Under Contract - Continue to Show 32 DOM
14. 2026-06-03
    days on market $170,000 Under Contract - Continue to Show 31 DOM
15. 2026-06-01
    days on market $170,000 Under Contract - Continue to Show 30 DOM
16. 2026-05-31
    statusdays on market $170,000 Under Contract - Continue to Show 29 DOM
17. 2026-05-02
    listed $185,000 Active 1015-char remark

ⓘ 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 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $31,325
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$2,506
• − Management: −$2,506
• − HOA: −$11,676
• − Depreciation: −$4,945
• Taxable loss: −$3,231
• Est. tax savings @ 24.0%: +$775
• After-tax cash flow: $-252/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 · 12 photos

Good 75/100 Cosmetic rehab

This spacious townhouse is in good condition with cosmetic updates needed to enhance its appeal and value.

Repairs flagged

• Minor bathroom — replace dated wallpaper
• Minor kitchen — update countertops

Value-add opportunities

• Both update kitchen countertops — modernizes kitchen and increases appeal
• Both replace dated wallpaper in bathroom — enhances bathroom aesthetics and value
• Both install new ceiling fans — improves air circulation and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
bathroom · replace dated wallpaper	Minor	$500–3,000
kitchen · update countertops	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both update kitchen countertops — modernizes kitchen and increases appeal ↑
• Both replace dated wallpaper in bathroom — enhances bathroom aesthetics and value ↑
• Both install new ceiling fans — improves air circulation and adds value ↑

ⓘ 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 — 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): 20,126
• Household income: $106,692
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 692.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 15% Hispanic / Latino 7% Asian 6% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 4% Hispanic 2% Scotch-Irish 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 86% English-only · Spanish 4% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -166.95%
• Current HPI: 227.7908
• Rent YoY: ▲ 0.33%
• 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

-8.1% since first listed

3 events — show timeline

• 2026-05-30 Contingent — Smart MLS
• 2026-05-20 Price Changed $170,000 Smart MLS
• 2026-05-02 Listed $185,000 Smart MLS