22 Hillside Ave · Branford Center, CT 06405

$514,900

4 bd · 2.0 ba · 2,136 sqft · SingleFamily public records · 4 Days on market

Built 1880 9,583 sqft lot Est $594k · 13% 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).

• ARV discount +13.5/15.0
• Cash flow +12.1/30.0
• Rent growth +5.0/5.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Was 2 family, can easily be converted back to legal 2 family. Property being sold as is. May be subject to probate court approval. Fabulous in town location. See m9083534

Key facts

• 9,583 sq ft lot
• Built 1880
• Listed 4 days

Property features AI

Finance

• Financial info: Multi-family property with 2 units

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas
• Home design: Multi-family (2-family) property
• Construction: Frame construction; Brick and stone foundation; Asphalt shingle roof; Built before or in 2026
• Exterior features: Porch; Level lot; Vinyl siding

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Natural gas hot water (40-gallon tank)
• Interior features: Full unfinished basement with storage and hatchway access; Attic with access via hatch
• Laundry & utility: Washer/dryer hookups in basement; Washer/dryer included for all units

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $515k.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $495k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $414k (19.7% below list).
• Recommended offer: $414k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.7% in Branford Center — 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 81/100 on livability (#16 in CT, #1,386 nationally) — a professional / high-income tenant draw. Strengths: crime A+, health & safety A+, housing B+; Watch: commute D+, cost of living D+.
• Branford School District (suburban): math 41% / reading 52% proficiency, ranked #85 of 153 in CT (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+10.6%/yr); 114 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $4,137/mo this rent would consume 47% of the median local household income ($105k/yr) (locally 1132% 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 $4k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $320k; list at $515k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $413,677 (19.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 0.80% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.92%
• DSCR: 0.96
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $593,808
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
65 Harrison Ave	0.15mi	3/2.5 (-1)	1,915 (-10%)	23mo	$564,999	$295	50
15 Hammer Pl	0.54mi	3/1.5 (-1)	1,920 (-10%)	15mo	$385,000	$201	39
4 Abbotts Ln	0.44mi	4/2.0	1,837 (-14%)	22mo	$585,000	$318	38
146 Cedar St	0.52mi	3/1.5 (-1)	1,890 (-12%)	16mo	$380,000	$201	36
56 Pine Orchard Rd	0.75mi	4/2.5	1,870 (-12%)	12mo	$520,000	$278	32

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.52×
• Total profit: $-68,693
• Equity at exit: $76,773

10-year hold

• IRR: 2.4%
• Equity multiple: 1.21×
• Total profit: $30,387
• Equity at exit: $44,519

Cash invested: $144,172 (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 06405

• Rents YoY: 10.6%
• Active inventory: 114
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $4,137 medium
• Mortgage (P&I): −$2,700
• Tax from tax record: −$464 /mo · $5,572/yr
• Insurance: −$215
• HOA: −$0
• Vacancy / Maint / Mgmt: −$869
• Net cashflow: $-111

Break-even live

Break-even rent $4,277

Max offer price $495,288

Occupancy floor 98%

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: $128,725
• Closing costs: $15,447
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 Main St Branford, CT	3.0	1.5	1824	$3,200	$1.75	10d	1	0.24mi
30 Aceto St Branford, CT	4.0	2.0	2170	$1,350	$0.62	10d	1	0.34mi
54 Monroe St Branford, CT	5.0	4.0	2777	$1,250	$0.45	11d	1	0.47mi
52 Maple St Unit 101 Branford, CT	4.0	3.0	2697	$9,000	$3.34	43d	1	0.81mi
124 S Montowese St #10 Branford, CT	3.0	2.0	1599	$3,500	$2.19	43d	1	1.23mi

Listing history 8 events

1. 2026-06-03
   statusdays on market $514,900 Under Contract 4 DOM
2. 2026-06-01
   remarks 597-char remark
3. 2026-06-01
   days on market $514,900 Active 3 DOM
4. 2026-05-31
   days on market $514,900 Active 2 DOM
5. 2026-05-27
   historical $514,900
6. 2004-10-07
   soldstatus $319,900
7. 2004-09-30
   soldstatus $319,900 170-char remark

   Show marketing remark (170 chars)

   Was 2 family, can easily be converted back to legal 2 family. Property being sold as is. May be subject to probate court approval. Fabulous in town location. See m9083534

8. 2004-08-04
   listed $319,900 170-char remark

   Show marketing remark (170 chars)

   Was 2 family, can easily be converted back to legal 2 family. Property being sold as is. May be subject to probate court approval. Fabulous in town location. See m9083534

ⓘ 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: $5,572 · $464/mo
• Projected year-2 tax: $8,295 · $691/mo
• Expected delta: +$2,723/yr (+$227/mo · 48.9%)

ⓘ 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 7/10 Severe 7 d/yr ≥96°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,641
• − Mortgage interest: −$28,842
• − Property taxes: −$5,572
• − Insurance: −$2,574
• − Repairs & maintenance: −$3,971
• − Management: −$3,971
• − Depreciation: −$14,979
• Taxable loss: −$10,269
• Est. tax savings @ 24.0%: +$2,465
• After-tax cash flow: $1,132/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: Branford School District
• NCES district ID: 0900420
• Math proficiency: 41% ▼ -14.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $70,979
• Composite: 41.85/100
• National rank: #3377
• State rank: #85 of 153 in CT

Livability — Branford Center

• Score: 81/100
• State rank: #16
• US rank: #1386

Category grades

Amenities B Commute D+ Cost of living D+ Crime A+ Employment B- Housing B+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Branford Center, CT
• County: New Haven County · 688,236 people
• Metro: New Haven-Milford, CT
• Population (ZIP): 28,217
• Household income: $105,225
• Rent vs Own: 30.5% rent · 69.5% own
• Severe rent burden: 1132.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 5% Asian 4% Two or more races 4% Black 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 3% Other Asian/Pacific 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: ▼ -455.72%
• Current HPI: 189.8481
• Rent YoY: ▲ 10.58%
• 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

+61.0% since first listed

4 events — show timeline

• 2026-05-27 Coming Soon $514,900 Smart MLS
• 2004-10-07 Sold (Public Records) $319,900 Public Records
• 2004-09-30 Sold (MLS) $319,900 Smart MLS
• 2004-08-04 Listed $319,900 Smart MLS

Property tax history

+1.7%/yr

Latest (2022): $5,572 · +0.0% YoY. Source: county tax records.