151 View St · Meriden, CT 06450

$475,000

7 bd · 2.0 ba · 2,102 sqft · MultiFamily public records · 402 Days on market

Built 1890 4,791 sqft lot $226/sqft · 31% above area Est $363k · 31% over

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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 +20.0/30.0
• DSCR +6.3/10.0
• 1% rule +4.6/10.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Multi family property located on View St in Meriden, CT, offering a great investment. Both units have 4 bedrooms each, cash cow.Will be extensively renovated prior to sale.

Key facts

• 4,791 sq ft lot
• Built 1890
• Listed 402 days

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/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 $458k (3.5% below list).
• Recommended offer: $418k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: Casimir Pulaski School (math 24% / reading 33%, grade F, #396 of 553 statewide, top 72%, 576 students, 87% FRL); Washington Middle School (math 31% / reading 42%, grade F, #118 of 175 statewide, top 68%, 622 students, 81% FRL); Orville H. Platt High School (math 12% / reading 32%, grade F, #156 of 194 statewide, top 82%, 1,108 students, 80% FRL) — zoned schools average 83% FRL vs 61% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 102 active listings in the ZIP; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $4,582/mo this rent would consume 77% of the median local household income ($71k/yr) (locally 1516% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 402 days — a 12% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 26y 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.
• Current owner paid $87k; list at $475k implies a 446% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $418,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 402 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.96% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.23%
• DSCR: 1.23
• GRM: 8.6

CMA / ARV

• ARV (median comp): $363,392
• List price: $475,000
• Delta: 30.71%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
48 Oak St	0.22mi	6/2.0 (-1)	2,237 (+6%)	20mo	$310,000	$139	57
117 Charles St	0.53mi	6/3.0 (-1)	1,950 (-7%)	14mo	$260,000	$133	42
109 Linsley Ave	0.58mi	6/2.0 (-1)	1,928 (-8%)	17mo	$405,000	$210	40

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-46,273
• Equity at exit: $70,824

10-year hold

• IRR: -2.1%
• Equity multiple: 0.87×
• Total profit: $-17,605
• Equity at exit: $41,069

Cash invested: $133,000 (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: 17.3×

Monthly cashflow live

• Estimated rent: $4,582 high
• Mortgage (P&I): −$2,491
• Tax from tax record: −$351 /mo · $4,215/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$962
• Net cashflow: $580

Break-even live

Break-even rent $3,848

Max offer price $475,000

Occupancy floor 82%

Sensitivity live

Price	-10% $849	-5% $714	+0% $580	+5% $445	+10% $311
Rent	-10% $218	-5% $399	+0% $580	+5% $761	+10% $942
Rate	-1.0pp $819	-0.5pp $700	base $580	+0.5pp $457	+1.0pp $331

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$4,582
Total (2 units)			$4,582

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-22
   days on market $475,000 Active 402 DOM
2. 2026-06-18
   days on market $475,000 Active 399 DOM
3. 2026-06-17
   days on market $475,000 Active 398 DOM
4. 2026-06-16
   days on market $475,000 Active 397 DOM
5. 2026-06-15
   days on market $475,000 Active 396 DOM
6. 2026-06-14
   days on market $475,000 Active 394 DOM
7. 2026-06-10
   days on market $475,000 Active 391 DOM
8. 2026-06-09
   days on market $475,000 Active 390 DOM
9. 2026-06-08
   days on market $475,000 Active 389 DOM
10. 2026-06-07
    days on market $475,000 Active 388 DOM
11. 2026-06-05
    days on market $475,000 Active 385 DOM
12. 2026-06-03
    days on market $475,000 Active 384 DOM
13. 2026-06-03
    days on market $475,000 Active 383 DOM
14. 2026-06-01
    days on market $475,000 Active 382 DOM
15. 2026-05-31
    days on market $475,000 Active 381 DOM
16. 2025-05-15
    listed $475,000 Active 172-char remark

    Show marketing remark (172 chars)

    Multi family property located on View St in Meriden, CT, offering a great investment. Both units have 4 bedrooms each, cash cow.Will be extensively renovated prior to sale.

17. 2012-01-11
    historical
18. 2011-06-21
    listed $149,000
19. 2011-02-23
    historical
20. 2010-08-26
    listed $149,900
21. 2009-05-11
    soldstatus $87,000
22. 2009-04-21
    listed $78,500
23. 2009-03-30
    historical
24. 2008-09-19
    listed $160,000
25. 2008-08-31
    historical
26. 2007-10-18
    listed $199,932
27. 2005-08-16
    soldstatus $184,900
28. 2005-08-15
    soldstatus $184,900
29. 2005-05-11
    listed $184,990
30. 2000-10-13
    soldstatus $92,000
31. 2000-08-31
    soldstatus $92,000
32. 2000-05-10
    listed $99,900
33. 1988-06-13
    soldstatus $120,000

ⓘ 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: $4,215 · $351/mo
• Projected year-2 tax: $7,190 · $599/mo
• Expected delta: +$2,975/yr (+$248/mo · 70.6%)

ⓘ 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 ≥98°F today · 15 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: $54,984
• − Mortgage interest: −$26,607
• − Property taxes: −$4,215
• − Insurance: −$2,375
• − Repairs & maintenance: −$4,399
• − Management: −$4,399
• − Depreciation: −$13,818
• Taxable loss: −$829
• Est. tax savings @ 24.0%: +$199
• After-tax cash flow: $7,155/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

+295.8% since first listed

18 events — show timeline

• 2025-05-15 Listed $475,000 Smart MLS
• 2012-01-11 Listing Removed — Smart MLS
• 2011-06-21 Listed $149,000 Smart MLS
• 2011-02-23 Listing Removed — Smart MLS
• 2010-08-26 Listed $149,900 Smart MLS
• 2009-05-11 Sold (MLS) $87,000 Smart MLS
• 2009-04-21 Listed $78,500 Smart MLS
• 2009-03-30 Listing Removed — Smart MLS
• 2008-09-19 Listed $160,000 Smart MLS
• 2008-08-31 Listing Removed — Smart MLS
• 2007-10-18 Listed $199,932 Smart MLS
• 2005-08-16 Sold (Public Records) $184,900 Public Records
• 2005-08-15 Sold (MLS) $184,900 Smart MLS
• 2005-05-11 Listed $184,990 Smart MLS
• 2000-10-13 Sold (MLS) $92,000 Smart MLS
• 2000-08-31 Sold (Public Records) $92,000 Public Records
• 2000-05-10 Listed $99,900 Smart MLS
• 1988-06-13 Sold (Public Records) $120,000 Public Records

Property tax history

-1.4%/yr

Latest (2023): $4,215 · +6.0% YoY. Source: county tax records.