44 Prescott St · Meriden, CT 06450

$389,000

9 bd · 3.0 ba · 3,504 sqft · MultiFamily public records · 4 Days on market

Built 1925 6,098 sqft lot Est $442k · 12% under

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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 +30.0/30.0
• ARV discount +12.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

3 - 3 Bedroom units -gross income $36,300. Fully occupied and updated. Paved off street parking, great updated front porch, updated windows, newer front doors. Hardwood floors. 3Rd floor unit is electric heat and hot water.

Key facts

• 6,098 sq ft lot
• 4 parking spots
• Built 1925

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $389k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $745/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $389k).
• Cap rate 13.4% 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.
• Zoned schools: Nathan Hale School (math 31% / reading 44%, grade F, #317 of 553 statewide, top 57%, 523 students, 74% 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); 98 active listings in the ZIP; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $6,285/mo this rent would consume 106% 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 $12k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $109k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $150k; list at $389k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $389,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.62% ✓
• Cap rate: 13.36%
• Cash-on-cash: 25.23%
• DSCR: 2.12
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $441,504
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
57 Prescott St	0.04mi	9/3.0	3,504 (0%)	8mo	$475,000	$136	92
22 Webster St	0.06mi	8/3.0 (-1)	3,303 (-6%)	1mo	$505,000	$153	82
59 Prescott St	0.04mi	9/3.0	3,504 (0%)	24mo	$362,000	$103	78
330 Center St	0.32mi	9/4.0	3,364 (-4%)	14mo	$380,000	$113	63
19 Cambridge St	0.35mi	8/3.0 (-1)	3,850 (+10%)	14mo	$425,000	$110	50
112 Hobart St	0.55mi	9/5.0	3,000 (-14%)	6mo	$505,000	$168	37
1076 Broad St	0.39mi	10/3.0 (+1)	4,008 (+14%)	20mo	$450,000	$112	36
34 Catlin St	0.73mi	8/4.0 (-1)	3,168 (-10%)	21mo	$400,000	$126	24

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: 16.5%
• Equity multiple: 1.65×
• Total profit: $70,972
• Equity at exit: $58,001

10-year hold

• IRR: 24.0%
• Equity multiple: 2.95×
• Total profit: $211,898
• Equity at exit: $33,634

Cash invested: $108,920 (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: 15.5×

Monthly cashflow live

• Estimated rent: $6,285 high
• Mortgage (P&I): −$2,040
• Tax from tax record: −$473 /mo · $5,678/yr
• Insurance: −$162
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,320
• Net cashflow: $2,234

Break-even live

Break-even rent $3,457

Max offer price $389,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,285
Total (3 units)			$6,285

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-03-26
   status Under Contract
2. 2026-03-23
   listed $389,000 Active
3. 2026-03-13
   historical $389,000
4. 2020-12-16
   soldstatus $150,000
5. 2014-07-23
   soldstatus $149,000
6. 2014-07-18
   soldstatus $149,000 223-char remark

   Show marketing remark (223 chars)

   3 - 3 Bedroom units -gross income $36,300. Fully occupied and updated. Paved off street parking, great updated front porch, updated windows, newer front doors. Hardwood floors. 3Rd floor unit is electric heat and hot water.

7. 2014-06-04
   listed $155,000 223-char remark

   Show marketing remark (223 chars)

   3 - 3 Bedroom units -gross income $36,300. Fully occupied and updated. Paved off street parking, great updated front porch, updated windows, newer front doors. Hardwood floors. 3Rd floor unit is electric heat and hot water.

8. 2013-07-30
   soldstatus $134,500
9. 2009-09-25
   soldstatus $77,000 343-char remark

   Show marketing remark (343 chars)

   This is a fannie mae homepath property. Large 3 family home in need of re-hab. Bank owned property being sold in as is condition. Pre-qual letter required with all offers, this is a fannie mae homepath property. Large 3 family home in need of re-hab. Bank owned property being sold in as is condition. Pre-qual letter required with all offers,

10. 2009-06-30
    listed $77,000 343-char remark

    Show marketing remark (343 chars)

    This is a fannie mae homepath property. Large 3 family home in need of re-hab. Bank owned property being sold in as is condition. Pre-qual letter required with all offers, this is a fannie mae homepath property. Large 3 family home in need of re-hab. Bank owned property being sold in as is condition. Pre-qual letter required with all offers,

11. 2007-02-16
    soldstatus $260,000
12. 2007-02-15
    soldstatus $260,000
13. 2006-12-11
    listed $259,900
14. 2005-04-13
    soldstatus $240,000

ⓘ 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: $5,678 · $473/mo
• Projected year-2 tax: $7,001 · $583/mo
• Expected delta: +$1,323/yr (+$110/mo · 23.3%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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: $75,420
• − Mortgage interest: −$21,790
• − Property taxes: −$5,678
• − Insurance: −$2,612
• − Repairs & maintenance: −$6,034
• − Management: −$6,034
• − Depreciation: −$11,316
• Taxable income: $21,957
• Est. tax owed @ 24.0%: −$5,270
• After-tax cash flow: $21,543/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

+62.1% since first listed

14 events — show timeline

• 2026-03-26 Pending — Smart MLS
• 2026-03-23 Listed $389,000 Smart MLS
• 2026-03-13 Coming Soon $389,000 Smart MLS
• 2020-12-16 Sold (Public Records) $150,000 Public Records
• 2014-07-23 Sold (Public Records) $149,000 Public Records
• 2014-07-18 Sold (MLS) $149,000 Smart MLS
• 2014-06-04 Listed $155,000 Smart MLS
• 2013-07-30 Sold (Public Records) $134,500 Public Records
• 2009-09-25 Sold (MLS) $77,000 Smart MLS
• 2009-06-30 Listed $77,000 Smart MLS
• 2007-02-16 Sold (Public Records) $260,000 Public Records
• 2007-02-15 Sold (MLS) $260,000 Smart MLS
• 2006-12-11 Listed $259,900 Smart MLS
• 2005-04-13 Sold (Public Records) $240,000 Public Records

Property tax history

-0.7%/yr

Latest (2023): $5,678 · +6.0% YoY. Source: county tax records.