562 Swanson Cres #562 · Milford city (balance), CT 06461

$199,900

2 bd · 2.0 ba · 1,258 sqft · Condo · 6 Days on market

Built 1978 Poor condition $493/mo HOA · 15% of rent

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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 +28.7/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to own largest size unit at Foxwood. Unit offers 2BR, 2 Bath and Den as well as Eat in Kitchen and Dining Room. Living Room leads to Private Balcony. This unit will need extensive remodeling and is being sold in AS-IS Condition. SUBJECT to PROBATE Approval

Key facts

• Private balcony
• Eat in kitchen
• Dining room

Tags

• PRIVATE BALCONY
• EAT IN KITCHEN
• DINING ROOM

Property features AI

Finance

• Other: Part of a 327-unit community
• Financial info: Pets allowed (one pet per unit)
• HOA & community: Monthly HOA fee (includes heat, hot water, water, pool service, grounds maintenance, trash pickup, snow removal, road maintenance, tennis); Association amenities include pool, tennis courts, bocce court and guest parking

Exterior

• Parking: Paved parking; Off-street assigned parking (1 space)
• Utilities: Public water connected; Public sewer connected; Domestic hot water
• Home design: Condominium in Foxwood complex; Beige exterior color
• Construction: Frame construction
• Exterior features: Clapboard and wood siding; Deck; Gutters; Exterior lighting; Tennis court on property; In-ground swimming pool with pool house; Corner lot with light woods and water view

Interior

• Bedrooms: 2 bedrooms (single-level unit)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard hot water heating; Natural gas heat
• Interior features: Cable available; Partial basement with storage; Attic with access via hatch
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 10.3% vs local median 3.6% in Milford city (balance) — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Milford School District (urban): math 44% / reading 58% proficiency, ranked #73 of 153 in CT (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 55 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $199,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.61% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.21%
• DSCR: 1.63
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.7%
• Equity multiple: 1.18×
• Total profit: $10,187
• Equity at exit: $29,806

10-year hold

• IRR: 14.3%
• Equity multiple: 2.16×
• Total profit: $64,673
• Equity at exit: $17,284

Cash invested: $55,972 (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 06461

• Active inventory: 55
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,212 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$493
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $663

Break-even live

Break-even rent $2,373

Max offer price $199,900

Occupancy floor 74%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70 Tumblebrook Rd Milford, CT	2.0	1.0	1056	$3,500	$3.31	43d	1	0.47mi
73 Paschal Dr Milford, CT	3.0	1.5	1269	$3,200	$2.52	23d	1	0.64mi
119 Sunnyside Ct Milford, CT	3.0	1.5	1350	$3,400	$2.52	19d	1	1.36mi

HOA detail condo

• Monthly dues: $493 · $5,916/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-07
   statusdays on market $199,900 Under Contract 6 DOM
2. 2026-06-03
   days on market $199,900 Under Contract - Continue to Show 4 DOM
3. 2026-06-03
   days on market $199,900 Under Contract - Continue to Show 3 DOM
4. 2026-06-01
   statusdays on market $199,900 Under Contract - Continue to Show 2 DOM

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

Taxation est. · year 1

• Rental income: $38,544
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,084
• − Management: −$3,084
• − HOA: −$5,916
• − Depreciation: −$5,815
• Taxable income: $5,450
• Est. tax owed @ 24.0%: −$1,308
• After-tax cash flow: $6,648/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

Poor 20/100 Extensive rehab

This property requires extensive renovation, including exterior siding, interior walls, and flooring. Upgrading these areas will significantly increase its value.

Repairs flagged

• Major exterior siding — Severe weathering
• Major interior walls — Worn paint
• Major kitchen appliances — Outdated appliances
• Major flooring — Worn carpet

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Resale Replace carpet — Fresh carpet improves comfort and appearance
• Both Upgrade kitchen appliances — Modern appliances increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering	Major	$15,000–50,000
interior walls · Worn paint	Major	$15,000–50,000
kitchen appliances · Outdated appliances	Major	$15,000–50,000
flooring · Worn carpet	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace carpet — Fresh carpet improves comfort and appearance ↑
• Both Upgrade kitchen appliances — Modern appliances increase both resale and rental 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: Milford School District
• NCES district ID: 0902520
• Math proficiency: 44% ▼ -14.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $80,198
• Composite: 46.45/100
• National rank: #2444
• State rank: #73 of 153 in CT

Livability — Milford city (balance)

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

Census & demographics

• Census place: Milford city (balance), CT
• County: New Haven County · 688,236 people
• City population: 52,340
• Metro: New Haven-Milford, CT
• Population (ZIP): 15,035
• Household income: $133,221
• Rent vs Own: 11.0% rent · 89.0% own
• Severe rent burden: 134.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 11% Two or more races 8% Asian 8% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5%
• Common ancestry: Romanian 10% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 84% English-only · Other Indo-European 5% Spanish 5% Russian/Polish/Slavic 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: ▼ -207.85%
• Current HPI: 248.904
• Rent YoY: —
• 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

1 event — show timeline

• 2026-05-30 Listed $199,900 Smart MLS