71 Yale St · Meriden, CT 06450

$299,900

3 bd · 2.0 ba · 2,575 sqft · MultiFamily public records · 13 Days on market

Built 1895 6,098 sqft lot Est $376k · 20% 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Fantastic addition to your investment portfolio. CASH ONLY 15 DAY CLOSE - 2 unit on a corner lot. Fully rented, comes with tenants in place. No units will be vacated for any sale. Please request income and expense sheet from your agent (tell them it's in the agent document download section) and please do drive by before requesting a showing time. 24 hour notice, no same day showings, do not to approach tenants without confirmed appointment with an agent.

Key facts

• Two family property
• Convenient location
• 6,098 sq ft lot

Tags

• TWO FAMILY PROPERTY
• FLEXIBLE LIVING SPACE
• TWO ADDITIONAL ATTIC ROOMS
• CONVENIENT LOCATION

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; 30-gallon hot water tank
• Home design: Multi-family 2-family property
• Construction: Concrete foundation; Other construction
• Exterior features: Vinyl siding; Shingle roof

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Natural gas heat fuel
• Interior features: 10 total rooms; Full basement; Walk-up attic

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $568/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Cap rate 10.8% 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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• At $4,105/mo this rent would consume 69% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $84k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 19y 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 $195k; list at $300k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — 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 $299,900

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 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.37% ✓
• Cap rate: 10.84%
• Cash-on-cash: 16.25%
• DSCR: 1.72
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $375,950
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
335 Liberty St	0.42mi	4/2.0 (+1)	2,604 (+1%)	24mo	$380,000	$146	53
124 Cottage St	0.30mi	4/2.0 (+1)	2,256 (-12%)	12mo	$375,000	$166	50
90 Liberty St	0.30mi	4/2.0 (+1)	2,329 (-10%)	22mo	$260,000	$112	47
141 Olive St	0.69mi	4/2.0 (+1)	2,909 (+13%)	16mo	$416,000	$143	28

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: 5.7%
• Equity multiple: 1.22×
• Total profit: $18,391
• Equity at exit: $44,716

10-year hold

• IRR: 13.9%
• Equity multiple: 2.04×
• Total profit: $87,614
• Equity at exit: $25,930

Cash invested: $83,972 (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 06450

• Rents YoY: 1.6%
• Active inventory: 98
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $4,105 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$408 /mo · $4,901/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$862
• Net cashflow: $1,137

Break-even live

Break-even rent $2,666

Max offer price $299,900

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,106
Total (2 units)			$4,105

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 Park Ave Meriden, CT	4.0	1.0	3727	$2,100	$0.56	14d	1	0.38mi
75 Wilcox Ave Meriden, CT	4.0	1.0	1763	$2,350	$1.33	44d	1	0.61mi
6 Springdale Ave Unit 6A Meriden, CT	3.0	1.0	2692	$2,000	$0.74	44d	1	0.72mi
45 Prospect St Meriden, CT	3.0	1.0	3080	$1,900	$0.62	44d	1	0.73mi
48 Prospect St Unit 1st floor Meriden, CT	3.0	1.0	2292	$2,000	$0.87	23d	1	0.76mi
48 Prospect St Unit 2ND Meriden, CT	2.0	1.0	2015	$1,800	$0.89	23d	1	0.76mi
141 Crown St Unit 2 Meriden, CT	2.0	1.0	2624	$1,850	$0.71	23d	1	0.76mi
33 Olive St Meriden, CT	2.0	1.0	1763	$1,550	$0.88	44d	1	0.76mi
58 Leonard St #204 Meriden, CT	4.0	3.5	2535	$3,500	$1.38	44d	1	1.22mi
25 Amity St Meriden, CT	3.0	1.5	1776	$2,500	$1.41	23d	1	1.30mi
84 Alcove St #3 Meriden, CT	2.0	1.0	1873	$1,700	$0.91	3d	1	1.38mi

Listing history 10 events

1. 2026-06-18
   days on market $299,900 Active 13 DOM
2. 2026-06-17
   days on market $299,900 Active 12 DOM
3. 2026-06-16
   days on market $299,900 Active 11 DOM
4. 2026-06-15
   days on market $299,900 Active 10 DOM
5. 2026-06-14
   days on market $299,900 Active 8 DOM
6. 2026-06-10
   days on market $299,900 Active 5 DOM
7. 2026-06-09
   days on market $299,900 Active 4 DOM
8. 2026-06-08
   days on market $299,900 Active 3 DOM
9. 2026-06-07
   remarks 354-char remark
10. 2026-06-07
    listed $299,900 Active 2 DOM

ⓘ 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: $4,901 · $408/mo
• Projected year-2 tax: $5,659 · $472/mo
• Expected delta: +$758/yr (+$63/mo · 15.5%)

ⓘ 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 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: $49,260
• − Mortgage interest: −$16,799
• − Property taxes: −$4,901
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,941
• − Management: −$3,941
• − Depreciation: −$8,724
• Taxable income: $9,454
• Est. tax owed @ 24.0%: −$2,269
• After-tax cash flow: $11,373/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

+501.0% since first listed

20 events — show timeline

• 2026-06-04 Listed $299,900 Smart MLS
• 2022-07-01 Sold (Public Records) $195,000 Public Records
• 2022-03-03 Sold (Public Records) $146,500 Public Records
• 2022-03-02 Sold (MLS) $146,500 Smart MLS
• 2022-01-11 Price Changed $146,500 Smart MLS
• 2022-01-10 Relisted — Smart MLS
• 2021-11-18 Listing Removed — Smart MLS
• 2021-10-14 Listed $121,000 Smart MLS
• 2021-08-23 Listing Removed — Smart MLS
• 2021-07-20 Listed $169,900 Smart MLS
• 2015-11-30 Sold (MLS) $38,350 Smart MLS
• 2015-11-17 Listing Removed — Smart MLS
• 2015-09-22 Listed $44,900 Smart MLS
• 2013-02-16 Listing Removed — Smart MLS
• 2012-03-15 Listed $89,900 Smart MLS
• 2009-10-03 Listing Removed — Smart MLS
• 2008-10-03 Listed $172,000 Smart MLS
• 2007-08-17 Listing Removed — Smart MLS
• 2007-02-17 Listed $199,900 Smart MLS
• 1999-11-29 Sold (Public Records) $49,900 Public Records

Property tax history

+0.0%/yr

Latest (2023): $4,901 · +6.0% YoY. Source: county tax records.