198 Mildred Rd · Meriden, CT 06450

$280,000

3 bd · 1.5 ba · 1,312 sqft · SingleFamily public records · 50 Days on market

Built 1954 0.28 ac lot Est $302k · 7% 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).

• Cash flow +13.6/30.0
• ARV discount +10.7/15.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• 1% rule +3.9/10.0
• Schools +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 198 Mildred Road: A traditional, expansive New England Ranch in an adorable, picturesque setting! Includes 3 bedrooms and finished lower-level family room that is perfect for entertaining! It could also serve as a great space for an in-law or multi-generational living situation. All bedrooms are spacious with ample closet space, including 2 huge walk-in closets with well-thought-out configurations! 2 full bathrooms. Spacious kitchen with new appliances. Washer and dryer. Invisible dog fencing is included if buyer should want it. Also, solar panels included, which will save a great deal of money. All of this, surrounded by a private back yard with beautiful deck and charming, lush, vibrant, idyllic landscaping that will make 198 Mildred Road a haven of comfort and contentment, the perfect place to make your home!

Key facts

• Landscaped backyard
• Solar panels
• Finished lower level

Tags

• FINISHED LOWER LEVEL
• SOLAR PANELS
• INVISIBLE DOG FENCING
• LANDSCAPED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $18 ($215/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (10.7% below list).
• Recommended offer: $250k (10.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• This rent runs 42% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $115k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $249,940 (10.7% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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: 0.89% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $301,760
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 Morton Rd	0.10mi	3/1.0	1,178 (-10%)	12mo	$330,000	$280	66
125 High Hill Rd	0.37mi	3/1.0	1,340 (+2%)	15mo	$400,000	$299	65
47 Humbert St	0.17mi	3/1.0	1,248 (-5%)	21mo	$285,000	$228	64
49 Morton Rd	0.14mi	3/1.0	1,148 (-12%)	16mo	$291,500	$254	57
104 Maple Ave	0.70mi	3/2.0	1,332 (+2%)	23mo	$306,000	$230	44
55 Lowe Ave	0.57mi	3/1.5	1,502 (+14%)	13mo	$320,000	$213	38
130 Maple Ave	0.73mi	3/2.0	1,482 (+13%)	17mo	$295,000	$199	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: -17.4%
• Equity multiple: 0.39×
• Total profit: $-47,530
• Equity at exit: $41,749

10-year hold

• IRR: -12.1%
• Equity multiple: 0.32×
• Total profit: $-53,089
• Equity at exit: $24,209

Cash invested: $78,400 (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: 9.3×

Monthly cashflow live

• Estimated rent: $2,499 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$372 /mo · $4,459/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $18

Break-even live

Break-even rent $2,477

Max offer price $280,000

Occupancy floor 94%

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 Pomeroy Ave Meriden, CT	2.0	1.0–2.0	949	$2,698	$2.84	3d	13	0.52mi
211 Pomeroy Ave Meriden, CT	2.0	1.0–2.0	988	$2,723	$2.75	10d	10	0.52mi
184 Gravel St #26 Meriden, CT	2.0	1.5	1080	$2,200	$2.04	23d	1	1.40mi

Listing history 20 events

1. 2026-02-18
   status Under Contract
2. 2026-02-18
   price $280,000
3. 2026-02-18
   price $385,000
4. 2026-02-18
   price $280,000
5. 2026-02-18
   price $385
6. 2026-02-18
   price $395
7. 2026-02-18
   status Active
8. 2026-01-29
   status Under Contract
9. 2026-01-19
   price $280,000
10. 2026-01-14
    price $350,000
11. 2025-12-22
    price $375,000
12. 2025-12-22
    status Active
13. 2025-12-20
    historical
14. 2025-12-08
    listed $395,000 Active
15. 2024-08-23
    soldstatus $379,000 Closed 834-char remark

    Show marketing remark (834 chars)

    Welcome to 198 Mildred Road: A traditional, expansive New England Ranch in an adorable, picturesque setting! Includes 3 bedrooms and finished lower-level family room that is perfect for entertaining! It could also serve as a great space for an in-law or multi-generational living situation. All bedrooms are spacious with ample closet space, including 2 huge walk-in closets with well-thought-out configurations! 2 full bathrooms. Spacious kitchen with new appliances. Washer and dryer. Invisible dog fencing is included if buyer should want it. Also, solar panels included, which will save a great deal of money. All of this, surrounded by a private back yard with beautiful deck and charming, lush, vibrant, idyllic landscaping that will make 198 Mildred Road a haven of comfort and contentment, the perfect place to make your home!

16. 2024-07-23
    status Under Contract 834-char remark

    Show marketing remark (834 chars)

    Welcome to 198 Mildred Road: A traditional, expansive New England Ranch in an adorable, picturesque setting! Includes 3 bedrooms and finished lower-level family room that is perfect for entertaining! It could also serve as a great space for an in-law or multi-generational living situation. All bedrooms are spacious with ample closet space, including 2 huge walk-in closets with well-thought-out configurations! 2 full bathrooms. Spacious kitchen with new appliances. Washer and dryer. Invisible dog fencing is included if buyer should want it. Also, solar panels included, which will save a great deal of money. All of this, surrounded by a private back yard with beautiful deck and charming, lush, vibrant, idyllic landscaping that will make 198 Mildred Road a haven of comfort and contentment, the perfect place to make your home!

17. 2024-07-18
    listed $319,000 Active 834-char remark

    Show marketing remark (834 chars)

    Welcome to 198 Mildred Road: A traditional, expansive New England Ranch in an adorable, picturesque setting! Includes 3 bedrooms and finished lower-level family room that is perfect for entertaining! It could also serve as a great space for an in-law or multi-generational living situation. All bedrooms are spacious with ample closet space, including 2 huge walk-in closets with well-thought-out configurations! 2 full bathrooms. Spacious kitchen with new appliances. Washer and dryer. Invisible dog fencing is included if buyer should want it. Also, solar panels included, which will save a great deal of money. All of this, surrounded by a private back yard with beautiful deck and charming, lush, vibrant, idyllic landscaping that will make 198 Mildred Road a haven of comfort and contentment, the perfect place to make your home!

18. 2000-04-28
    soldstatus $119,900
19. 2000-04-27
    soldstatus $119,900 145-char remark

    Show marketing remark (145 chars)

    Very nice ranch style home with a lovely finished family room with built ins. Bow window. Rear deck. New roof. 2 Ceilings fans. Window treatments

20. 2000-03-05
    listed $119,900 145-char remark

    Show marketing remark (145 chars)

    Very nice ranch style home with a lovely finished family room with built ins. Bow window. Rear deck. New roof. 2 Ceilings fans. Window treatments

ⓘ 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: $4,459 · $372/mo
• Projected year-2 tax: $5,226 · $435/mo
• Expected delta: +$766/yr (+$64/mo · 17.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 16 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: $29,993
• − Mortgage interest: −$15,684
• − Property taxes: −$4,459
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,399
• − Management: −$2,399
• − Depreciation: −$8,145
• Taxable loss: −$4,495
• Est. tax savings @ 24.0%: +$1,079
• After-tax cash flow: $1,294/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

+133.5% since first listed

20 events — show timeline

• 2026-02-18 Pending — Smart MLS
• 2026-02-18 Price Changed $280,000 Smart MLS
• 2026-02-18 Price Changed $385,000 Smart MLS
• 2026-02-18 Price Changed $280,000 Smart MLS
• 2026-02-18 Price Changed $385 Smart MLS
• 2026-02-18 Price Changed $395 Smart MLS
• 2026-02-18 Relisted — Smart MLS
• 2026-01-29 Pending — Smart MLS
• 2026-01-19 Price Changed $280,000 Smart MLS
• 2026-01-14 Price Changed $350,000 Smart MLS
• 2025-12-22 Price Changed $375,000 Smart MLS
• 2025-12-22 Relisted — Smart MLS
• 2025-12-20 Listing Removed — Smart MLS
• 2025-12-08 Listed $395,000 Smart MLS
• 2024-08-23 Sold (MLS) $379,000 Smart MLS
• 2024-07-23 Pending — Smart MLS
• 2024-07-18 Listed $319,000 Smart MLS
• 2000-04-28 Sold (Public Records) $119,900 Public Records
• 2000-04-27 Sold (MLS) $119,900 Smart MLS
• 2000-03-05 Listed $119,900 Smart MLS

Property tax history

-0.4%/yr

Latest (2023): $4,459 · +5.5% YoY. Source: county tax records.