136 Forest Rd · Milford city (balance), CT 06461

$339,000

2 bd · 1.0 ba · 1,173 sqft · SingleFamily public records · 29 Days on market

Built 1941 1.33 ac lot $289/sqft · 28% below area Est $471k · 28% 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 +15.0/15.0
• Cash flow +10.5/30.0
• Schools +4.6/10.0
• 1% rule +3.4/10.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks! This 3-bedroom, 1-bath Contemporary Ranch offers a rare chance to restore and reimagine a truly unique home. Set on a private, wooded lot, this home offers a functional layout with generous living space and strong design bones-perfect for buyers looking to renovate, invest, or create a one-of-a-kind residence. Outdoor space includes a patio area ideal for entertaining or relaxing in a serene setting. Being sold as-is, this is an exceptional opportunity to add value and bring a distinctive home back to life.

Key facts

• Patio area
• Private wooded lot
• Functional layout

Tags

• PRIVATE WOODED LOT
• FUNCTIONAL LAYOUT
• PATIO AREA

Property features AI

Finance

• Financial info: Assessed value listed

Exterior

• Parking: Under-house garage (1 car)
• Utilities: Public water connected; Public sewer connected; Electric hot water
• Home design: Single-family home
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Living area approximately 1,173 sq ft
• Exterior features: Level lot; Shingle exterior siding

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating; Oil-fired heat; oil tank located in garage
• Interior features: Full unfinished basement; Attic with pull-down stairs; One fireplace; Total of 6 rooms
• Laundry & utility: 30-gallon electric hot water tank

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $339k.

Deal economics

• At list price, monthly cash flow is $-174 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $308k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $284k (16.2% below list).
• Recommended offer: $284k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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 D — 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.
• Zoned schools: Orange Avenue School (math 47% / reading 52%, grade D, #237 of 553 statewide, top 45%, 404 students, 23% FRL); Harborside Middle School (math 51% / reading 65%, grade B, #55 of 175 statewide, top 32%, 403 students, 23% FRL); Joseph A. Foran High School (math 47% / reading 67%, grade C, #52 of 194 statewide, top 31%, 765 students, 26% FRL).
• Market conditions: 55 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($334k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 51% 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 $284,238 (16.2% 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 1941 — 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. 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?
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 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: 0.84% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.19%
• DSCR: 0.90
• GRM: 9.9

CMA / ARV

• ARV (median comp): $471,088
• List price: $339,000
• Delta: -28.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 Forest Rd	0.00mi	3/1.0 (+1)	1,173 (0%)	0mo	$400,000	$341	95
86 Cinnamon Rd #86	0.22mi	2/1.0	1,176 (+0%)	16mo	$235,700	$200	76
6 Vernon Ct	0.38mi	3/2.5 (+1)	1,092 (-7%)	2mo	$525,000	$481	58
42 Corona Dr	0.48mi	3/2.0 (+1)	1,190 (+1%)	11mo	$451,500	$379	57
181 North St	0.56mi	2/1.0	1,020 (-13%)	9mo	$337,000	$330	44
31 Ross St	0.45mi	3/1.0 (+1)	1,008 (-14%)	8mo	$301,000	$299	44
125 Orange Ave	0.33mi	3/1.0 (+1)	1,017 (-13%)	17mo	$360,000	$354	43

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: -19.9%
• Equity multiple: 0.31×
• Total profit: $-65,900
• Equity at exit: $50,546

10-year hold

• IRR: -12.8%
• Equity multiple: 0.25×
• Total profit: $-71,257
• Equity at exit: $29,311

Cash invested: $94,920 (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 06461

• Active inventory: 55
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,842 high
• Mortgage (P&I): −$1,778
• Tax from tax record: −$500 /mo · $6,001/yr
• Insurance: −$141
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $-174

Break-even live

Break-even rent $3,062

Max offer price $308,332

Occupancy floor —

Sensitivity live

Price	-10% $18	-5% $-78	+0% $-174	+5% $-270	+10% $-366
Rent	-10% $-398	-5% $-286	+0% $-174	+5% $-61	+10% $51
Rate	-1.0pp $-3	-0.5pp $-87	base $-174	+0.5pp $-261	+1.0pp $-351

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 Sunnyside Ct Milford, CT	3.0	1.5	1350	$3,400	$2.52	21d	1	0.55mi
158 Cherry St Milford, CT	1.0	1.0	703	$2,535	$3.61	4d	1	0.56mi
99 Cherry St Unit 1 Milford, CT	1.0	1.5	850	$2,250	$2.65	4d	1	0.70mi
73 Paschal Dr Milford, CT	3.0	1.5	1269	$3,200	$2.52	25d	1	0.75mi
680 Boston Post Rd Apt 25 Milford, CT	2.0	1.0	1050	$2,650	$2.52	4d	1	0.81mi
184 Buckingham Ave Milford, CT	2.0	1.0	1265	$2,050	$1.62	45d	1	0.83mi
47 Prospect St Milford, CT	2.0	1.0–2.0	1105	$3,170	$2.87	4d	4	0.92mi
97 River St Milford, CT	2.0	1.0	1248	$2,900	$2.32	4d	1	0.97mi
15 River St Unit 3C Milford, CT	1.0	1.0	750	$2,600	$3.47	4d	1	1.07mi
121 W Main St Milford, CT	1.0	1.0	786	$2,662	$3.39	4d	1	1.09mi
44 River St Milford, CT	2.0	1.0–2.0	789	$3,758	$4.76	25d	1	1.14mi
70 Tumblebrook Rd Milford, CT	2.0	1.0	1056	$3,500	$3.31	45d	1	1.26mi
33 Railroad Ave Milford, CT	1.0–2.0	1.0–2.0	838	$2,962	$3.53	4d	3	1.31mi
10 Central Ave Milford, CT	2.0	1.0	924	$1,995	$2.16	13d	1	1.35mi
251 W Main St Milford, CT	2.0	2.0	1094	$2,800	$2.56	4d	1	1.39mi

Listing history 5 events

1. 2026-06-02
   status $339,000 Under Contract 29 DOM
2. 2026-06-01
   days on market $339,000 Under Contract - Continue to Show 29 DOM
3. 2026-05-31
   days on market $339,000 Under Contract - Continue to Show 28 DOM
4. 2026-05-09
   historical Under Contract - Continue to Show 532-char remark
5. 2026-05-03
   listed $339,000 Active 532-char remark

ⓘ 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: $6,001 · $500/mo
• Projected year-2 tax: $6,628 · $552/mo
• Expected delta: +$627/yr (+$52/mo · 10.4%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 51% 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: $34,109
• − Mortgage interest: −$18,989
• − Property taxes: −$6,001
• − Insurance: −$1,695
• − Repairs & maintenance: −$2,729
• − Management: −$2,729
• − Depreciation: −$9,862
• Taxable loss: −$7,896
• Est. tax savings @ 24.0%: +$1,895
• After-tax cash flow: $-188/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): 15,035
• Household income: $133,221
• Rent vs Own: 11.0% rent · 89.0% own
• Severe rent burden: 134.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 11% Two or more races 8% Asian 8% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5%
• Common ancestry: Romanian 10% Scotch-Irish 2% Lithuanian 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 84% English-only · Other Indo-European 5% Spanish 5% Russian/Polish/Slavic 2%

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: ▼ -207.85%
• Current HPI: 248.904
• Rent YoY: —
• 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

+18.0% since first listed

4 events — show timeline

• 2026-06-12 Sold (MLS) $400,000 Smart MLS
• 2026-06-01 Pending — Smart MLS
• 2026-05-09 Contingent — Smart MLS
• 2026-05-03 Listed $339,000 Smart MLS

Property tax history

+2.4%/yr

Latest (2023): $6,001 · +2.0% YoY. Source: county tax records.