71 Broad St · Meriden, CT 06450

$194,900

3 bd · 2.0 ba · 1,568 sqft · SingleFamily public records · 36 Days on market

Built 1953 0.32 ac lot $124/sqft · 32% below area Est $288k · 32% under ↓ 18% since listing

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Why this score? — see what drove the C- 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 +16.6/30.0
• ARV discount +15.0/15.0
• 1% rule +5.3/10.0
• DSCR +5.1/10.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

RT 5 location - Brick dormered 6 room cape with 4 bedrooms 2 baths open to many possibilities,

Key facts

• 0.32 acre lot
• Built 1953
• Listed 36 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $116 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 4.2% in Meriden — 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 85/100 on livability (#4 in CT, #505 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+.
• Meriden School District (suburban): math 27% / reading 41% proficiency, ranked #116 of 153 in CT (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.6%/yr); 98 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 34% of the median local income ($71k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $189,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 8.1

CMA / ARV

• ARV (median comp): $288,252
• List price: $194,900
• Delta: -32.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 Broad St	0.00mi	3/2.0	1,568 (0%)	1mo	$194,000	$124	100
328 Curtis St	0.17mi	3/1.5	1,629 (+4%)	3mo	$365,000	$224	82
30 Ann Pl	0.13mi	3/1.0	1,480 (-6%)	8mo	$226,000	$153	74
264 Curtis St	0.16mi	3/1.5	1,691 (+8%)	5mo	$325,000	$192	73
248 Curtis St	0.18mi	4/2.0 (+1)	1,744 (+11%)	6mo	$309,900	$178	63
23 Davis St	0.30mi	3/1.0	1,431 (-9%)	7mo	$350,000	$245	61
34 Meetinghouse Rdg	0.63mi	2/1.5 (-1)	1,564 (-0%)	4mo	$304,000	$194	60
64 Victoria Dr	0.50mi	3/2.0	1,712 (+9%)	3mo	$308,000	$180	58
178 Elm St	0.49mi	3/1.5	1,428 (-9%)	3mo	$225,000	$158	58
61 Ridgefield St	0.49mi	4/1.5 (+1)	1,700 (+8%)	0mo	$385,000	$226	56
80 Dryden Dr	0.65mi	3/2.0	1,425 (-9%)	3mo	$340,000	$239	52
32 Silver St	0.46mi	2/1.0 (-1)	1,404 (-10%)	4mo	$300,000	$214	49

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 · 1.65% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.51×
• Total profit: $-26,774
• Equity at exit: $29,060

10-year hold

• IRR: -7.5%
• Equity multiple: 0.56×
• Total profit: $-24,121
• Equity at exit: $16,851

Cash invested: $54,572 (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 06450

• Rents YoY: 1.6%
• Active inventory: 98
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$370 /mo · $4,446/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $116

Break-even live

Break-even rent $1,866

Max offer price $194,900

Occupancy floor 89%

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Broad St Meriden, CT	2.0	2.0	1150	$2,110	$1.83	43d	1	0.10mi
14 S Broad St Meriden, CT	1.0–2.0	1.0–1.5	947	$2,132	$2.25	2d	1	0.22mi
88 Olive St Meriden, CT	3.0	1.0	1100	$1,600	$1.45	43d	1	0.63mi
33 Olive St Meriden, CT	2.0	1.0	1763	$1,550	$0.88	43d	1	0.65mi
31 Winthrop St Meriden, CT	4.0	2.0	1550	$2,400	$1.55	3d	1	0.65mi
84 Alcove St #3 Meriden, CT	2.0	1.0	1873	$1,700	$0.91	3d	1	0.71mi
19 Hobart St #1 Meriden, CT	3.0	2.0	1105	$2,200	$1.99	43d	1	0.95mi
65 Twiss St Meriden, CT	2.0	1.0	1566	$1,300	$0.83	14d	1	1.01mi
1 Barristers Ct Unit 2nd Flr Meriden, CT	3.0	1.0	1512	$2,200	$1.46	23d	1	1.03mi
48 Prospect St Unit 2ND Meriden, CT	2.0	1.0	2015	$1,800	$0.89	23d	1	1.16mi
14 Hillside St Meriden, CT	4.0	1.0	1175	$2,000	$1.70	19d	1	1.20mi
130 Bradley Ave Apt 306 Meriden, CT	2.0	1.0	1100	$1,580	$1.44	19d	1	1.27mi
130 Bradley Ave Apt 405 Meriden, CT	2.0	1.0	1100	$1,480	$1.35	23d	1	1.27mi
130 Bradley Ave Meriden, CT	2.0	1.0	1100	$1,500	$1.36	14d	1	1.27mi
116 Springdale Ave Unit 1st Flr Meriden, CT	2.0	1.0	1646	$1,600	$0.97	43d	1	1.34mi
39 N Spring St Unit 2 Meriden, CT	3.0	1.0	1650	$2,400	$1.45	43d	1	1.42mi
184 Gravel St #26 Meriden, CT	2.0	1.5	1080	$2,200	$2.04	23d	1	1.49mi

Listing history 4 events

1. 2026-05-07
   status Under Contract 94-char remark

   Show marketing remark (94 chars)

   RT 5 location - Brick dormered 6 room cape with 4 bedrooms 2 baths open to many possibilities,

2. 2026-04-01
   listed $194,900 Active 94-char remark

   Show marketing remark (94 chars)

   RT 5 location - Brick dormered 6 room cape with 4 bedrooms 2 baths open to many possibilities,

3. 2025-11-02
   historical
4. 2025-08-22
   listed $239,000 Active

ⓘ 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: $4,446 · $370/mo
• Projected year-2 tax: $4,446 · $370/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 5/10 Major 7 d/yr ≥97°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,151
• − Mortgage interest: −$10,917
• − Property taxes: −$4,446
• − Insurance: −$974
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$5,670
• Taxable loss: −$1,721
• Est. tax savings @ 24.0%: +$413
• After-tax cash flow: $1,807/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: Meriden School District
• NCES district ID: 0902400
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 41% ▼ -6.00%
• Median HH income: $53,883
• Composite: 29.84/100
• National rank: #6413
• State rank: #116 of 153 in CT

Livability — Meriden

• Score: 85/100
• State rank: #4
• US rank: #505

Category grades

Amenities A+ Commute A Cost of living A- Crime A- Employment C Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meriden, CT
• County: New Haven County · 688,236 people
• City population: 60,545
• Metro: New Haven-Milford, CT
• Population (ZIP): 35,694
• Household income: $71,250
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 1516.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 51% Hispanic / Latino 36% Two or more races 16% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 23% Dominican 3%
• Common ancestry: Romanian 8% Lithuanian 4% Scotch-Irish 2%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 70% English-only · Spanish 25% Russian/Polish/Slavic 1% 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: ▼ -154.37%
• Current HPI: 263.7288
• Rent YoY: ▲ 1.65%
• 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

-18.5% since first listed

4 events — show timeline

• 2026-05-07 Pending — Smart MLS
• 2026-04-01 Listed $194,900 Smart MLS
• 2025-11-02 Listing Removed — Smart MLS
• 2025-08-22 Listed $239,000 Smart MLS

Property tax history

-1.5%/yr

Latest (2023): $4,446 · +6.0% YoY. Source: county tax records.