330 Merwin Ave Unit D5 · Milford city (balance), CT 06460

$370,000

2 bd · 2.5 ba · 1,428 sqft · Condo public records · 4 Days on market

Built 1973 $424/mo HOA · 15% of rent

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +6.1/30.0
• Schools +4.6/10.0
• Rent growth +3.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the desirable Ocean Crest complex in Milford's sought-after Woodmont neighborhood! This well-maintained 3-level townhouse offers 1,428 sq ft PLUS an additional 360 sq ft in the lower level, 2 bedrooms, 2.1 baths, and an abundance of closet/storage space throughout. The spacious living room, with views of the clubhouse, offers a full-size coat closet and flows into the large eat-in kitchen with an additional flex space ideal for entertaining (perhaps a larger dining area) or a den, as shown. Sliders lead to a beautiful private patio perfect for relaxing outdoors. Finishing the main level is an updated half bath. Upstairs, the primary bedroom boasts a Juliet balcony overlooking the

Key facts

• $424 HOA
• 2 parking spots
• Pool

Property features AI

Finance

• Other: Part of a 65-unit complex
• Financial info: Professionally managed off-site; Pets allowed
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee; Association amenities include clubhouse, pool, guest parking, grounds maintenance, trash pickup, snow removal, pool service, road maintenance, and property management

Exterior

• Parking: Paved, off-street assigned parking; 2 parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas for heat and hot water
• Home design: Condominium; Part of Ocean Crest complex; Beige exterior color
• Construction: Frame construction
• Exterior features: Vinyl siding and brick exterior; Patio; Level lot; Walk to water and beach rights

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Hot air heating (natural gas); Central air; Ceiling fans; Natural gas hot water
• Interior features: 5 total rooms; Three levels in unit; Full, partially finished basement; Attic with hatch access; Ceiling fans; Central air
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $370k.

Deal economics

• At list price, monthly cash flow is $-697 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (33.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (25.7% below list).
• Recommended offer: $247k (33.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade F — 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: Joseph A. Foran High School (math 47% / reading 67%, grade C, #52 of 194 statewide, top 31%, 765 students, 26% FRL).
• Market conditions: Rents rising (+2.2%/yr); 175 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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).
• This rent runs 32% of the median local income ($104k/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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $246,785 (33.3% 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 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.74% ✗
• Cap rate: 4.03%
• Cash-on-cash: -8.08%
• DSCR: 0.64
• GRM: 11.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.19% rent growth · sell at horizon

5-year hold

• IRR: -31.4%
• Equity multiple: -0.03×
• Total profit: $-106,369
• Equity at exit: $55,168

10-year hold

• IRR: -39.9%
• Equity multiple: -0.52×
• Total profit: $-157,852
• Equity at exit: $31,991

Cash invested: $103,600 (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: 11.2×

Monthly cashflow live

• Estimated rent: $2,750 high
• Mortgage (P&I): −$1,940
• Tax from tax record: −$351 /mo · $4,217/yr
• Insurance: −$154
• HOA: −$424
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $-697

Break-even live

Break-even rent $3,633

Max offer price $246,785

Occupancy floor —

Sensitivity live

Price	-10% $-488	-5% $-593	+0% $-697	+5% $-802	+10% $-907
Rent	-10% $-915	-5% $-806	+0% $-697	+5% $-589	+10% $-480
Rate	-1.0pp $-511	-0.5pp $-603	base $-697	+0.5pp $-793	+1.0pp $-891

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
153 Penn Cmn #153 Milford, CT	2.0	1.5	1092	$2,500	$2.29	12d	1	0.14mi
102 Salem Walk #102 Milford, CT	3.0	1.5	1320	$3,400	$2.58	3d	1	0.19mi
158 Chapel St Unit 2 Milford, CT	3.0	1.0	1213	$1,945	$1.60	44d	1	0.21mi
40 Chapel St #210 Milford, CT	1.0	1.0	887	$2,100	$2.37	3d	1	0.27mi
23 Village Rd Milford, CT	2.0	1.5	1058	$3,100	$2.93	4d	1	0.42mi
140 Beach Ave Unit 2 Milford, CT	2.0	1.0	1096	$2,600	$2.37	44d	1	0.43mi
1080 New Haven Ave #91 Milford, CT	2.0	1.5	963	$2,300	$2.39	3d	1	0.59mi
15 Merwin Ave Milford, CT	3.0	3.0	1675	$4,750	$2.84	3d	1	0.68mi
58 Annawon Ave West Haven, CT	3.0	1.0	984	$2,800	$2.85	12d	1	1.00mi
42 Whalley Ave Milford, CT	3.0	1.0	958	$2,500	$2.61	22d	1	1.02mi
42 Whalley Ave Milford, CT	3.0	1.0	958	$2,500	$2.61	3d	1	1.02mi
43 Hillside Ave #43 Milford, CT	3.0	2.5	1714	$6,995	$4.08	22d	1	1.04mi
160 Aimes Dr West Haven, CT	3.0	2.0	1170	$3,200	$2.74	44d	1	1.15mi
109 Skyline Dr West Haven, CT	2.0	1.0	885	$2,495	$2.82	44d	1	1.35mi

HOA detail condo

• Monthly dues: $424 · $5,088/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-01
   statusdays on market $370,000 Under Contract 4 DOM
2. 2026-05-31
   days on market $370,000 Active 3 DOM
3. 2026-05-27
   historical $370,000

ⓘ 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: $4,217 · $351/mo
• Projected year-2 tax: $6,068 · $506/mo
• Expected delta: +$1,850/yr (+$154/mo · 43.9%)

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

Taxation est. · year 1

• Rental income: $32,999
• − Mortgage interest: −$20,726
• − Property taxes: −$4,217
• − Insurance: −$1,850
• − Repairs & maintenance: −$2,640
• − Management: −$2,640
• − HOA: −$5,088
• − Depreciation: −$10,764
• Taxable loss: −$14,925
• Est. tax savings @ 24.0%: +$3,582
• After-tax cash flow: $-4,788/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

1 event — show timeline

• 2026-05-27 Coming Soon $370,000 Smart MLS

Property tax history

+0.3%/yr

Latest (2023): $4,217 · +2.0% YoY. Source: county tax records.