90 Franklin St · Meriden, CT 06450

$255,000

4 bd · 2.0 ba · 1,340 sqft · SingleFamily public records · 30 Days on market

Built 1900 3,484 sqft lot Est $284k · 10% under

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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 +13.9/30.0
• ARV discount +12.1/15.0
• DSCR +4.2/10.0
• Livability +4.2/5.0
• 1% rule +3.8/10.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 4-bedroom, 2 full bath colonial-style home offers a practical and adaptable floor plan with two bedrooms on the main level and two upstairs. The main-level full bath is handicapped accessible, supporting true one-level living if needed, while the second-floor bath features a classic footed tub. The living room includes built-ins for added storage and function. Upstairs, a versatile extra room provides options for a potential fifth bedroom, secondary kitchen area, or flex space. This home is conveniently located just a stone's throw away from City Park and with easy access to major highways, offering both neighborhood convenience and commuter accessibility. Don't miss out on this opport

Key facts

• 3,484 sq ft lot
• Built 1900
• Listed 30 days

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Oil tank located in basement
• Home design: Single-family home; Frame construction; Yellow exterior siding
• Construction: Asphalt shingle roof; Vinyl siding; Concrete foundation
• Exterior features: Sidewalk; Porch; Outdoor lighting; Dry, level, cleared lot

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: 4 bedrooms (total)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating; Oil-fired heat; Programmable thermostat; 40-gallon hot water tank (oil)
• Interior features: Cable available; Thermostat(s); Accessible bath and ramps
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $29 ($348/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (11.8% below list).
• Recommended offer: $225k (11.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.0% 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.
• Zoned schools: Nathan Hale School (math 31% / reading 44%, grade F, #317 of 553 statewide, top 57%, 523 students, 74% FRL); Washington Middle School (math 31% / reading 42%, grade F, #118 of 175 statewide, top 68%, 622 students, 81% FRL); Francis T. Maloney High School (math 20% / reading 45%, grade F, #125 of 194 statewide, top 66%, 1,264 students, 71% FRL).
• Market conditions: Rents rising (+1.6%/yr); 102 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• This rent runs 38% 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $224,903 (11.8% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.88% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.49%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $284,080
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
149 Woodland St	0.60mi	4/1.0	1,286 (-4%)	4mo	$303,000	$236	58
10 Howe St	0.31mi	4/1.5	1,234 (-8%)	17mo	$259,000	$210	56
24 Hobart St	0.65mi	3/1.5 (-1)	1,360 (+2%)	6mo	$275,000	$202	55
34 Hobart St	0.63mi	3/1.0 (-1)	1,329 (-1%)	10mo	$289,000	$217	52
19 Blackstone St	0.74mi	3/1.5 (-1)	1,400 (+4%)	6mo	$333,000	$238	46
38 Locust St	0.54mi	3/2.0 (-1)	1,502 (+12%)	8mo	$319,000	$212	42
175 Gracey Ave	0.58mi	3/1.0 (-1)	1,417 (+6%)	19mo	$320,000	$226	39
81 Wall St	0.68mi	3/1.0 (-1)	1,194 (-11%)	3mo	$225,200	$189	38
129 Atkins St	0.67mi	3/1.0 (-1)	1,210 (-10%)	15mo	$250,000	$207	31
154 N Pearl St	0.73mi	3/1.5 (-1)	1,512 (+13%)	10mo	$320,000	$212	29

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: -17.0%
• Equity multiple: 0.41×
• Total profit: $-42,464
• Equity at exit: $38,021

10-year hold

• IRR: -11.6%
• Equity multiple: 0.35×
• Total profit: $-46,537
• Equity at exit: $22,048

Cash invested: $71,400 (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: 102
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,249 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$304 /mo · $3,651/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $29

Break-even live

Break-even rent $2,212

Max offer price $255,000

Occupancy floor 94%

Sensitivity live

Price	-10% $173	-5% $101	+0% $29	+5% $-43	+10% $-115
Rent	-10% $-149	-5% $-60	+0% $29	+5% $118	+10% $207
Rate	-1.0pp $157	-0.5pp $94	base $29	+0.5pp $-37	+1.0pp $-104

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
96 Franklin St Unit 2nd Floor Meriden, CT	3.0	1.0	900	$1,800	$2.00	45d	1	0.02mi
17 Sherman Ave Unit 3rd Meriden, CT	3.0	1.0	1088	$2,300	$2.11	45d	1	0.14mi
75 Wilcox Ave Meriden, CT	4.0	1.0	1763	$2,350	$1.33	45d	1	0.24mi
120 Wilcox Ave Unit 2 Meriden, CT	3.0	1.0	1250	$2,000	$1.60	13d	1	0.29mi
51 Park St Meriden, CT	1.0–3.0	1.0–1.5	800	$2,260	$2.83	4d	6	0.35mi
19 Cambridge St Unit 2 Meriden, CT	3.0	1.0	1100	$2,100	$1.91	45d	1	0.43mi
1068 Broad St Unit 1 Meriden, CT	3.0	1.0	1200	$2,000	$1.67	45d	1	0.47mi
300 Britannia St Meriden, CT	1.0–4.0	1.0–2.0	980	$2,725	$2.78	4d	8	0.50mi
19 Hobart St #1 Meriden, CT	3.0	2.0	1105	$2,200	$1.99	45d	1	0.68mi
49 Springdale Ave Meriden, CT	4.0	1.0	1000	$2,200	$2.20	45d	1	0.77mi
1 Barristers Ct Unit 2nd Flr Meriden, CT	3.0	1.0	1512	$2,200	$1.46	25d	1	0.78mi
39 N Spring St Unit 2 Meriden, CT	3.0	1.0	1650	$2,400	$1.45	45d	1	0.83mi
25 Amity St Meriden, CT	3.0	1.5	1776	$2,500	$1.41	25d	1	0.92mi
88 Olive St Meriden, CT	3.0	1.0	1100	$1,600	$1.45	45d	1	1.00mi
200 Sams Rd Meriden, CT	2.0–3.0	1.5–2.5	855	$2,700	$3.16	3d	4	1.07mi
11 Nutmeg Dr Meriden, CT	2.0–3.0	1.5–2.5	1600	$2,600	$1.62	3d	4	1.26mi
19 Goff St Meriden, CT	3.0	1.5	900	$1,700	$1.89	45d	1	1.41mi
31 Winthrop St Meriden, CT	4.0	2.0	1550	$2,400	$1.55	5d	1	1.45mi

Listing history 18 events

1. 2026-06-22
   days on market $255,000 Active 30 DOM
2. 2026-06-18
   days on market $255,000 Active 27 DOM
3. 2026-06-17
   days on market $255,000 Active 26 DOM
4. 2026-06-16
   days on market $255,000 Active 25 DOM
5. 2026-06-15
   days on market $255,000 Active 24 DOM
6. 2026-06-14
   days on market $255,000 Active 22 DOM
7. 2026-06-10
   days on market $255,000 Active 19 DOM
8. 2026-06-09
   days on market $255,000 Active 18 DOM
9. 2026-06-08
   days on market $255,000 Active 17 DOM
10. 2026-06-07
    days on market $255,000 Active 16 DOM
11. 2026-06-05
    days on market $255,000 Active 13 DOM
12. 2026-06-03
    days on market $255,000 Active 12 DOM
13. 2026-06-03
    days on market $255,000 Active 11 DOM
14. 2026-06-01
    days on market $255,000 Active 10 DOM
15. 2026-05-31
    days on market $255,000 Active 9 DOM
16. 2026-05-18
    historical $255,000
17. 2007-07-06
    historical
18. 2006-07-06
    listed $147,900

ⓘ 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: $3,651 · $304/mo
• Projected year-2 tax: $4,554 · $380/mo
• Expected delta: +$903/yr (+$75/mo · 24.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 17 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: $26,988
• − Mortgage interest: −$14,284
• − Property taxes: −$3,651
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,159
• − Management: −$2,159
• − Depreciation: −$7,418
• Taxable loss: −$3,958
• Est. tax savings @ 24.0%: +$950
• After-tax cash flow: $1,298/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

+72.4% since first listed

4 events — show timeline

• 2026-05-23 Listed $255,000 Smart MLS
• 2026-05-18 Coming Soon $255,000 Smart MLS
• 2007-07-06 Listing Removed — Smart MLS
• 2006-07-06 Listed $147,900 Smart MLS

Property tax history

-0.7%/yr

Latest (2023): $3,651 · +6.0% YoY. Source: county tax records.