29 Meetinghouse Ln · Milford city (balance), CT 06460

$399,900

3 bd · 2.0 ba · 1,764 sqft · SingleFamily public records · 40 Days on market

Built 1950 9,147 sqft lot Est $570k · 30% under

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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 +20.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.6/10.0
• Schools +4.6/10.0
• Rent growth +3.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great Neighborhood, Home does need some TLC but it offers Vinyl siding, Vinyl replacement Windows and solar Panels. Easy access to all major Highways.

Key facts

• Vinyl siding
• Solar panels
• 9,147 sq ft lot

Tags

• VINYL SIDING
• VINYL REPLACEMENT WINDOWS
• SOLAR PANELS

Property features AI

Finance

• Financial info: Assessed value available

Exterior

• Parking: Detached garage (1-car)
• Utilities: Public water connection; Public sewer connection
• Home design: Single-family home
• Construction: Built with frame construction; Vinyl siding; Concrete foundation; Asphalt shingle roof; Blue exterior
• Exterior features: Covered deck; Level lot

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: Three bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot air heating fueled by natural gas; Window air conditioning unit; 65-gallon natural gas hot water tank
• Interior features: Six total rooms; Basement: none
• Laundry & utility: Washer and dryer located in the kitchen on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Recommended offer: $388k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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.
• Milford School District (urban): math 44% / reading 58% proficiency, ranked #73 of 153 in CT (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.2%/yr); 175 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• At $4,248/mo this rent would consume 49% of the median local household income ($104k/yr) (locally 1254% 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.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $50k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $273k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $387,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1950 — 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. 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: 1.06% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.94%
• DSCR: 1.26
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $569,772
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
211 Merwin Ave	0.38mi	3/3.0	1,712 (-3%)	13mo	$555,000	$324	63
12 Freemont Ave	0.08mi	4/2.5 (+1)	1,599 (-9%)	15mo	$580,000	$363	61
18 Kenwood Rd	0.59mi	3/2.0	1,712 (-3%)	8mo	$549,000	$321	61
44 Dalton Rd	0.13mi	3/2.0	1,547 (-12%)	18mo	$450,000	$291	59
170 Kings Hwy	0.50mi	3/1.5	1,656 (-6%)	7mo	$635,000	$383	58
266 Mary Ellen Dr	0.49mi	3/2.5	1,958 (+11%)	2mo	$580,000	$296	55
21 Lyda Dr	0.71mi	3/2.5	1,858 (+5%)	2mo	$600,000	$323	54
6 Snowapple Ln	0.71mi	3/2.5	1,722 (-2%)	11mo	$535,000	$311	51
127 Nicole Dr	0.36mi	4/3.0 (+1)	1,540 (-13%)	10mo	$535,000	$347	45
22 Hillside Ave	0.74mi	2/1.5 (-1)	1,608 (-9%)	6mo	$578,000	$359	38
36 Clark Hill Rd	0.66mi	3/2.0	1,956 (+11%)	16mo	$425,000	$217	38
29 Clark Hill Rd	0.73mi	3/2.0	1,578 (-10%)	18mo	$455,000	$288	33

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 · 2.19% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.71×
• Total profit: $-32,876
• Equity at exit: $59,626

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $3,282
• Equity at exit: $34,576

Cash invested: $111,972 (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 06460

• Rents YoY: 2.2%
• Active inventory: 175
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $4,248 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$539 /mo · $6,465/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$892
• Net cashflow: $554

Break-even live

Break-even rent $3,547

Max offer price $399,900

Occupancy floor 82%

Sensitivity live

Price	-10% $780	-5% $667	+0% $554	+5% $441	+10% $327
Rent	-10% $218	-5% $386	+0% $554	+5% $722	+10% $889
Rate	-1.0pp $755	-0.5pp $656	base $554	+0.5pp $450	+1.0pp $345

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Merwin Ave Milford, CT	3.0	3.0	1675	$4,750	$2.84	3d	1	0.38mi
102 Salem Walk #102 Milford, CT	3.0	1.5	1320	$3,400	$2.58	3d	1	0.66mi
22 Usher St Milford, CT	3.0	2.5	2344	$4,500	$1.92	44d	1	0.68mi
43 Hillside Ave #43 Milford, CT	3.0	2.5	1714	$6,995	$4.08	22d	1	0.74mi
48 Beach Ave Milford, CT	4.0	1.5	2342	$3,700	$1.58	3d	1	0.82mi

Listing history 13 events

1. 2026-05-09
   status Under Contract
2. 2026-05-09
   status Active
3. 2026-02-18
   status Under Contract
4. 2026-02-09
   status Active
5. 2025-10-10
   status Under Contract
6. 2025-10-08
   status Active
7. 2025-10-02
   status Under Contract
8. 2025-09-26
   status Active
9. 2025-09-11
   status Under Contract
10. 2025-09-05
    price $399,900
11. 2025-08-22
    price $459,900
12. 2025-08-19
    listed $449,900 Active
13. 2004-01-26
    soldstatus $273,000

ⓘ 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: $6,465 · $539/mo
• Projected year-2 tax: $7,511 · $626/mo
• Expected delta: +$1,046/yr (+$87/mo · 16.2%)

ⓘ 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 ≥96°F today · 16 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: $50,982
• − Mortgage interest: −$22,401
• − Property taxes: −$6,465
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,079
• − Management: −$4,079
• − Depreciation: −$11,633
• Taxable income: $326
• Est. tax owed @ 24.0%: −$78
• After-tax cash flow: $6,567/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: Milford School District
• NCES district ID: 0902520
• Math proficiency: 44% ▼ -14.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $80,198
• Composite: 46.45/100
• National rank: #2444
• State rank: #73 of 153 in CT

Livability — Milford city (balance)

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

Census & demographics

• Census place: Milford city (balance), CT
• County: New Haven County · 688,236 people
• City population: 52,340
• Metro: New Haven-Milford, CT
• Population (ZIP): 37,649
• Household income: $104,360
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 1254.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Two or more races 7% Asian 3% Black 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% Lithuanian 4% Scotch-Irish 2%
• Foreign-born: 10% · Canada, China, Jamaica
• Languages at home: 88% 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: ▼ -396.40%
• Current HPI: 287.7738
• Rent YoY: ▲ 2.19%
• 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

+46.5% since first listed

13 events — show timeline

• 2026-05-09 Pending — Smart MLS
• 2026-05-09 Relisted — Smart MLS
• 2026-02-18 Pending — Smart MLS
• 2026-02-09 Relisted — Smart MLS
• 2025-10-10 Pending — Smart MLS
• 2025-10-08 Relisted — Smart MLS
• 2025-10-02 Pending — Smart MLS
• 2025-09-26 Relisted — Smart MLS
• 2025-09-11 Pending — Smart MLS
• 2025-09-05 Price Changed $399,900 Smart MLS
• 2025-08-22 Price Changed $459,900 Smart MLS
• 2025-08-19 Listed $449,900 Smart MLS
• 2004-01-26 Sold (Public Records) $273,000 Public Records

Property tax history

+1.9%/yr

Latest (2023): $6,465 · +1.9% YoY. Source: county tax records.