1950 N Broad St Lot 3 · Meriden, CT 06450

$110,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 23 Days on market

Built 2006 $515/mo HOA · 33% of rent

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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 +14.5/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 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

Charming 2 bedroom 1 bathroom home in the New England Villages Home Mobile Park. You'll be welcomed by the warm living room and spacious eat-in kitchen. down the hall is the full bathroom, laundry area, and 2 bedrooms with closets. This property is located close to shops and restaurants as well as conveniently located within 10 minutes to I-91 & I-691. Water, sewer and trash removal included in monthly fee. Call to schedule your showing today!

Key facts

• Open floor plan
• One-floor living
• Storage shed

Tags

• ONE-FLOOR LIVING
• OPEN FLOOR PLAN
• SPACIOUS EAT-IN KITCHEN
• CENTRAL AIR
• NICELY MAINTAINED YARD
• STORAGE SHED

Property features AI

Finance

• Financial info: Property managed professionally off-site
• HOA & community: Homeowners association with monthly fee; HOA covers trash pickup, water and sewer

Exterior

• Parking: 3 total parking spaces
• Utilities: Public water connected; Public sewer connected; Electric hot water
• Home design: Single-family home; Prefab construction; Tan exterior siding
• Construction: Vinyl siding; Asphalt shingle roof; Slab foundation
• Exterior features: Shed; Private paved driveway

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Hot air heating fueled by propane; Electric domestic hot water; Above-ground fuel tank
• Interior features: Cable available; No basement
• Laundry & utility: Washer; Dryer (main level laundry)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $24 ($290/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.6% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 5 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.
• Current owner paid $60k; list at $110k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.41% ✓
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.65% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.41×
• Total profit: $-18,074
• Equity at exit: $16,401

10-year hold

• IRR: -12.5%
• Equity multiple: 0.32×
• Total profit: $-20,877
• Equity at exit: $9,511

Cash invested: $30,800 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,555 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$66 /mo · $796/yr
• Insurance: −$46
• HOA: −$515
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $24

Break-even live

Break-even rent $1,524

Max offer price $110,000

Occupancy floor 93%

Sensitivity live

Price	-10% $86	-5% $55	+0% $24	+5% $-7	+10% $-38
Rent	-10% $-99	-5% $-37	+0% $24	+5% $86	+10% $147
Rate	-1.0pp $80	-0.5pp $52	base $24	+0.5pp $-4	+1.0pp $-33

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Guiel Pl Unit 2 Meriden, CT	1.0	1.0	483	$1,400	$2.90	3d	1	1.25mi
1187 N Broad St #9 Meriden, CT	2.0	1.0	488	$1,650	$3.38	44d	1	1.40mi
1187 N Broad St #1 Meriden, CT	1.0	1.0	488	$1,400	$2.87	44d	1	1.40mi

HOA detail

• Monthly dues: $515 · $6,180/yr
• Likely covers: watersewertrash

Listing history 29 events

1. 2026-06-18
   days on market $110,000 Active 23 DOM
2. 2026-06-17
   days on market $110,000 Active 22 DOM
3. 2026-06-16
   days on market $110,000 Active 21 DOM
4. 2026-06-15
   price $110,000 Active 20 DOM
5. 2026-06-15
   days on market $115,000 Active 20 DOM
6. 2026-06-14
   days on market $115,000 Active 18 DOM
7. 2026-06-10
   days on market $115,000 Active 15 DOM
8. 2026-06-09
   days on market $115,000 Active 14 DOM
9. 2026-06-08
   days on market $115,000 Active 13 DOM
10. 2026-06-07
    days on market $115,000 Active 12 DOM
11. 2026-06-05
    days on market $115,000 Active 9 DOM
12. 2026-06-03
    days on market $115,000 Active 8 DOM
13. 2026-06-03
    days on market $115,000 Active 7 DOM
14. 2026-06-01
    days on market $115,000 Active 6 DOM
15. 2026-05-31
    days on market $115,000 Active 5 DOM
16. 2026-05-26
    listed $115,000 Active
17. 2022-11-02
    soldstatus $60,000 Closed 451-char remark

    Show marketing remark (451 chars)

    Charming 2 bedroom 1 bathroom home in the New England Villages Home Mobile Park. You'll be welcomed by the warm living room and spacious eat-in kitchen. down the hall is the full bathroom, laundry area, and 2 bedrooms with closets. This property is located close to shops and restaurants as well as conveniently located within 10 minutes to I-91 & I-691. Water, sewer and trash removal included in monthly fee. Call to schedule your showing today!

18. 2022-11-01
    soldstatus $60,000
19. 2022-10-13
    historical Under Contract - Continue to Show 451-char remark

    Show marketing remark (451 chars)

    Charming 2 bedroom 1 bathroom home in the New England Villages Home Mobile Park. You'll be welcomed by the warm living room and spacious eat-in kitchen. down the hall is the full bathroom, laundry area, and 2 bedrooms with closets. This property is located close to shops and restaurants as well as conveniently located within 10 minutes to I-91 & I-691. Water, sewer and trash removal included in monthly fee. Call to schedule your showing today!

20. 2022-09-28
    listed $57,000 Active 451-char remark

    Show marketing remark (451 chars)

    Charming 2 bedroom 1 bathroom home in the New England Villages Home Mobile Park. You'll be welcomed by the warm living room and spacious eat-in kitchen. down the hall is the full bathroom, laundry area, and 2 bedrooms with closets. This property is located close to shops and restaurants as well as conveniently located within 10 minutes to I-91 & I-691. Water, sewer and trash removal included in monthly fee. Call to schedule your showing today!

21. 2015-04-23
    soldstatus $30,000
22. 2015-04-21
    soldstatus $30,000 238-char remark

    Show marketing remark (238 chars)

    Newer 2 bedroom mobile home in pet friendly park. Propane heat. Central air. Includes all appliances and window treatments.Sky light in bath. Monthly lot rent is $372 includes water/ sewer, garbage pick up maintenance of all common areas.

23. 2015-03-27
    historical 238-char remark

    Show marketing remark (238 chars)

    Newer 2 bedroom mobile home in pet friendly park. Propane heat. Central air. Includes all appliances and window treatments.Sky light in bath. Monthly lot rent is $372 includes water/ sewer, garbage pick up maintenance of all common areas.

24. 2014-03-28
    listed $39,900 238-char remark

    Show marketing remark (238 chars)

    Newer 2 bedroom mobile home in pet friendly park. Propane heat. Central air. Includes all appliances and window treatments.Sky light in bath. Monthly lot rent is $372 includes water/ sewer, garbage pick up maintenance of all common areas.

25. 2009-10-22
    soldstatus $49,000
26. 2009-10-21
    soldstatus $49,000
27. 2009-06-20
    listed $54,900
28. 2006-03-28
    soldstatus $52,900
29. 2006-02-13
    listed $52,900

ⓘ 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: $796 · $66/mo
• Projected year-2 tax: $1,575 · $131/mo
• Expected delta: +$779/yr (+$65/mo · 97.9%)

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

Taxation est. · year 1

• Rental income: $18,656
• − Mortgage interest: −$6,162
• − Property taxes: −$796
• − Insurance: −$550
• − Repairs & maintenance: −$1,492
• − Management: −$1,492
• − HOA: −$6,180
• − Depreciation: −$3,200
• Taxable loss: −$1,217
• Est. tax savings @ 24.0%: +$292
• After-tax cash flow: $582/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

+117.4% since first listed

14 events — show timeline

• 2026-05-26 Listed $115,000 Smart MLS
• 2022-11-02 Sold (MLS) $60,000 Smart MLS
• 2022-11-01 Sold (Public Records) $60,000 Public Records
• 2022-10-13 Contingent — Smart MLS
• 2022-09-28 Listed $57,000 Smart MLS
• 2015-04-23 Sold (Public Records) $30,000 Public Records
• 2015-04-21 Sold (MLS) $30,000 Smart MLS
• 2015-03-27 Listing Removed — Smart MLS
• 2014-03-28 Listed $39,900 Smart MLS
• 2009-10-22 Sold (Public Records) $49,000 Public Records
• 2009-10-21 Sold (MLS) $49,000 Smart MLS
• 2009-06-20 Listed $54,900 Smart MLS
• 2006-03-28 Sold (MLS) $52,900 Smart MLS
• 2006-02-13 Listed $52,900 Smart MLS

Property tax history

-5.1%/yr

Latest (2023): $796 · +5.4% YoY. Source: county tax records.