713 Broad St · Milford city (balance), CT 06615

$425,000

4 bd · 2.0 ba · 1,629 sqft · MultiFamily public records · 45 Days on market

Built 1890 0.28 ac lot Est $435k · at est.

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Why this score? — see what drove the C- 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 +22.2/30.0
• ARV discount +8.5/15.0
• DSCR +7.1/10.0
• 1% rule +6.0/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

A Rare Find In The Historical Area - Convenient Location W/ Short Walk To Train Station. Each Flr 4 Rm, 2Br, 1 Bth. Newer Windows, Updated 100 Amp Electrical Services, Newer Hw Heaters. All Separate Utilites Except Water. Full Basement

Key facts

• 0.28 acre lot
• Garage
• Built 1890

Property features AI

Exterior

• Parking: Detached garage (1); Driveway; Off-street parking; Total of 6 parking spaces
• Utilities: Public water connected; Public sewer connected; Hot water from natural gas and electric (40-gallon tank); Thermopane windows (energy efficient)
• Home design: Multi-family property (2-family); Multi-family for sale; Frame construction; White exterior siding; Private driveway
• Construction: Stone foundation; Asphalt shingle roof
• Exterior features: Porch; Gutters; Level lot; Some wetlands; Located in a historic district; Beach rights

Interior

• Bedrooms: 4 bedrooms (total)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Natural gas heat
• Interior features: 8 total rooms; Full basement with interior access and storage; Attic with walk-up access used for storage
• Laundry & utility: Laundry located on lower level; In-unit hook-ups in at least one unit; some units include washer/dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $425k).
• Recommended offer: $412k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.6% in Milford city (balance) — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Stratford School District (urban): math 22% / reading 38% proficiency, ranked #122 of 153 in CT (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stratford Academy - Johnson House (math 14% / reading 28%, grade F, #441 of 553 statewide, top 80%, 557 students, 64% FRL); David Wooster Middle School (math 18% / reading 40%, grade F, #143 of 175 statewide, top 83%, 539 students, 51% FRL); Stratford High School (math 19% / reading 46%, grade F, #125 of 194 statewide, top 66%, 1,127 students, 45% FRL) — zoned schools average 53% FRL vs 31% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 76 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• At $4,675/mo this rent would consume 69% of the median local household income ($82k/yr) (locally 507% 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 $13k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $213k; list at $425k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 60% 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 $412,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.10% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.96%
• DSCR: 1.31
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $434,943
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
713 Broad St	0.00mi	4/2.0	1,629 (0%)	1mo	$435,000	$267	99
414 Knowlton St	0.68mi	4/2.0	1,671 (+3%)	20mo	$450,000	$269	48
1491 Elm St	0.62mi	5/5.0 (+1)	1,599 (-2%)	23mo	$375,000	$235	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.55×
• Total profit: $-53,815
• Equity at exit: $63,369

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-26,384
• Equity at exit: $36,746

Cash invested: $119,000 (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 06615

• Active inventory: 76
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $4,675 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$597 /mo · $7,162/yr
• Insurance: −$177
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$982
• Net cashflow: $230

Break-even live

Break-even rent $4,384

Max offer price $425,000

Occupancy floor 90%

Sensitivity live

Price	-10% $471	-5% $350	+0% $230	+5% $110	+10% $-10
Rent	-10% $-139	-5% $46	+0% $230	+5% $415	+10% $599
Rate	-1.0pp $444	-0.5pp $338	base $230	+0.5pp $120	+1.0pp $8

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,674
Total (2 units)			$4,675

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Kings College Pl Stratford, CT	4.0	1.5	1435	$2,800	$1.95	25d	1	0.37mi
1127 W Broad St Stratford, CT	3.0	1.5	1636	$4,000	$2.44	5d	1	0.39mi
498 Sherwood Pl Stratford, CT	3.0	1.0–2.0	984	$3,195	$3.25	23d	5	0.49mi
11 Colony St Stratford, CT	4.0	2.0	1450	$3,700	$2.55	5d	1	0.69mi
55 Woodend Rd Stratford, CT	3.0	1.5	1200	$3,000	$2.50	4d	1	0.84mi
231 Nichols Ave Stratford, CT	3.0	1.0	1200	$3,000	$2.50	21d	1	0.98mi
301 McGrath Ct Stratford, CT	3.0	1.5	1232	$2,450	$1.99	25d	1	1.10mi
85 Green St Stratford, CT	4.0	1.0	1428	$3,400	$2.38	45d	1	1.18mi
405 Wilcoxson Ave Stratford, CT	3.0	2.0	1458	$3,500	$2.40	4d	1	1.18mi
164 Meadowview Ave Stratford, CT	3.0	1.5	1188	$2,800	$2.36	45d	1	1.47mi
82 Miller Ave Milford, CT	4.0	2.0	1866	$4,750	$2.55	4d	1	1.47mi

Listing history 8 events

1. 2026-05-23
   status Under Contract
2. 2026-04-17
   historical Under Contract - Continue to Show
3. 2026-04-08
   listed $425,000 Active
4. 2026-03-31
   historical $425,000
5. 2011-07-18
   soldstatus $213,000 235-char remark

   Show marketing remark (235 chars)

   A Rare Find In The Historical Area - Convenient Location W/ Short Walk To Train Station. Each Flr 4 Rm, 2Br, 1 Bth. Newer Windows, Updated 100 Amp Electrical Services, Newer Hw Heaters. All Separate Utilites Except Water. Full Basement

6. 2011-07-18
   soldstatus $213,000

   Show marketing remark (235 chars)

   A Rare Find In The Historical Area - Convenient Location W/ Short Walk To Train Station. Each Flr 4 Rm, 2Br, 1 Bth. Newer Windows, Updated 100 Amp Electrical Services, Newer Hw Heaters. All Separate Utilites Except Water. Full Basement

7. 2011-04-26
   listed $224,900 235-char remark

   Show marketing remark (235 chars)

   A Rare Find In The Historical Area - Convenient Location W/ Short Walk To Train Station. Each Flr 4 Rm, 2Br, 1 Bth. Newer Windows, Updated 100 Amp Electrical Services, Newer Hw Heaters. All Separate Utilites Except Water. Full Basement

8. 2010-09-02
   soldstatus $210,000

ⓘ 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: $7,162 · $597/mo
• Projected year-2 tax: $8,128 · $677/mo
• Expected delta: +$966/yr (+$81/mo · 13.5%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% 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: $56,100
• − Mortgage interest: −$23,807
• − Property taxes: −$7,162
• − Insurance: −$7,650
• − Repairs & maintenance: −$4,488
• − Management: −$4,488
• − Depreciation: −$12,364
• Taxable loss: −$3,858
• Est. tax savings @ 24.0%: +$926
• After-tax cash flow: $3,688/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: Stratford School District
• NCES district ID: 0904440
• Math proficiency: 22% ▼ -12.00%
• Reading proficiency: 38% ▼ -10.00%
• Median HH income: $67,912
• Composite: 27.85/100
• National rank: #6877
• State rank: #122 of 153 in CT

Livability — Milford city (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Fairfield County · 765,532 people
• City population: 52,340
• Metro: Bridgeport-Stamford-Norwalk, CT
• Population (ZIP): 17,136
• Household income: $81,534
• Rent vs Own: 31.9% rent · 68.1% own
• Severe rent burden: 507.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 53% Hispanic / Latino 24% Black 18% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 13%
• Common ancestry: Romanian 5% Hispanic 3% Lithuanian 2%
• Foreign-born: 18% · Canada, South Korea, Jamaica
• Languages at home: 74% English-only · Spanish 17% French/Haitian/Cajun 2% Other Indo-European 2%

Political lean MEDSL · Greater Bridgeport

• 2024 margin: Strong D (+23.3) · D 60.9% · R 37.6% · Other 1.5%
• All cycles: 2024: D+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -359.68%
• Current HPI: 230.0031
• Rent YoY: —
• Metro: Bridgeport-Stamford-Norwalk, 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

+102.4% since first listed

8 events — show timeline

• 2026-05-23 Pending — Smart MLS
• 2026-04-17 Contingent — Smart MLS
• 2026-04-08 Listed $425,000 Smart MLS
• 2026-03-31 Coming Soon $425,000 Smart MLS
• 2011-07-18 Sold (Public Records) $213,000 Public Records
• 2011-07-18 Sold (MLS) $213,000 Smart MLS
• 2011-04-26 Listed $224,900 Smart MLS
• 2010-09-02 Sold (Public Records) $210,000 Public Records

Property tax history

+2.8%/yr

Latest (2023): $7,162 · +1.9% YoY. Source: county tax records.