New Investor looking for advise

[Pallavi Irshad]

Hello everyone
I am a new investor in CT and was looking to buy my first condo in Hamden I have analyzed the deal and the ROI is coming to 6.4%  but I am not to sure about the rental demand in Hamden My realtor does tell me that there are very less condos for rental and the demand is more which seems to be true, so on to more specifics condo is 2 bedroom  1 and half bathroom 953 sq ft on mix ave closer to shopping and Yale and Quinnipiac Universities .Asking price 169,900 needs some paint job and carpet replacement in the bedrooms other than that nothing much needed. The last condo similar to this was sold in the same complex was in September of 2021 for 130,000 . Rents were typically $1650 but due to demand they are going fro $1800 according to my realtor . Is there someone who has the knowledge of CT market especially Hamden and if they can advise me if this property is worth perusing ?

[Kyle Jeppesen]

@Pallavi Irshad, I'm from Hamden, CT. What is your reasoning behind purchasing a condo rather than a SFR or a 2-4 unit property. You can purchase a SFR and house hack to college kids.