60 Charles St · Meriden, CT 06451

$218,000

3 bd · 1.0 ba · 1,065 sqft · SingleFamily public records · 9 Days on market

Built 1956 7,405 sqft lot Est $290k · 25% 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 +13.9/30.0
• 1% rule +4.2/10.0
• DSCR +4.2/10.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right in!! Wonderful remodeled 3 bedroom home with updated tile kitchen andnew stainless appliances. Newly finished hardwood floors throughout. Fantasticlevel yard. Great s. Meriden location, seller will help with closing costs.

Key facts

• Private backyard
• Level lot
• Ranch style home

Tags

• RANCH STYLE HOME
• PRIVATE BACKYARD
• DETACHED GARAGE
• LEVEL LOT

Property features AI

Exterior

• Parking: Detached garage (1-car)
• Utilities: Public water connected; Public sewer connected
• Home design: Single-family home
• Construction: Built with wood frame construction; Concrete foundation; Asphalt shingle roof
• Exterior features: Level lot; Aluminum siding

Interior

• Kitchen: Electric range; Dishwasher
• Bedrooms: Three bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heating (oil fuel)
• Interior features: Six total rooms; Full, unfinished basement; Attic with access via hatch
• Laundry & utility: Oil hot water heater (oil-fired hot water); Fuel tank located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $218k.

Deal economics

• At list price, monthly cash flow is $25 ($301/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 $201k (8.0% below list).
• Recommended offer: $201k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.0% 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.
• Zoned schools: Hanover School (math 34% / reading 42%, grade F, #314 of 553 statewide, top 57%, 427 students, 62% FRL); Lincoln Middle School (math 23% / reading 43%, grade F, #131 of 175 statewide, top 75%, 688 students, 80% FRL); Orville H. Platt High School (math 12% / reading 32%, grade F, #156 of 194 statewide, top 82%, 1,108 students, 80% FRL).
• Market conditions: 70 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,059 units permitted in South Central Connecticut Planning Region in 2024 (779 in 5+ unit buildings).
• This rent runs 34% 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 $7k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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 $177k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,535 (8.0% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.92% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.49%
• DSCR: 1.02
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $289,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 Douglas Dr	0.21mi	4/1.0 (+1)	1,080 (+1%)	4mo	$181,600	$168	80
44 Baker Ave	0.10mi	3/1.0	1,006 (-6%)	12mo	$240,000	$239	76
31 Bruce Ln	0.20mi	3/2.0	1,126 (+6%)	10mo	$380,000	$337	68
96 Douglas Dr	0.26mi	3/1.0	980 (-8%)	10mo	$335,000	$342	66
28 Dee Ave	0.21mi	3/1.0	1,215 (+14%)	9mo	$330,000	$272	60
34 Hillside St	0.63mi	2/1.0 (-1)	1,110 (+4%)	2mo	$218,000	$196	57
81 Lakeview St	0.69mi	3/1.5	1,040 (-2%)	9mo	$300,000	$288	55
52 Hillside St	0.66mi	2/1.0 (-1)	1,008 (-5%)	5mo	$255,000	$253	52
58 Melville Ave	0.64mi	3/1.0	1,152 (+8%)	9mo	$290,000	$252	49
145 Deer Run Rd	0.73mi	3/1.0	968 (-9%)	5mo	$350,000	$362	46
183 Deer Run Rd	0.68mi	3/1.0	960 (-10%)	14mo	$330,000	$344	40
78 Summit St	0.74mi	2/1.0 (-1)	949 (-11%)	5mo	$219,000	$231	38

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: -15.5%
• Equity multiple: 0.45×
• Total profit: $-33,665
• Equity at exit: $32,505

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-27,002
• Equity at exit: $18,849

Cash invested: $61,040 (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 06451

• Home prices YoY: -14.2%
• Active inventory: 70
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,005 high
• Mortgage (P&I): −$1,143
• Tax from tax record: −$325 /mo · $3,901/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $25

Break-even live

Break-even rent $1,974

Max offer price $218,000

Occupancy floor 94%

Sensitivity live

Price	-10% $148	-5% $87	+0% $25	+5% $-37	+10% $-98
Rent	-10% $-133	-5% $-54	+0% $25	+5% $104	+10% $184
Rate	-1.0pp $135	-0.5pp $81	base $25	+0.5pp $-31	+1.0pp $-89

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: $54,500
• Closing costs: $6,540
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
63 Webb St #11 Meriden, CT	2.0	1.5	912	$2,200	$2.41	46d	1	0.28mi
33 Jepson Ln Meriden, CT	2.0	1.0	720	$2,300	$3.19	45d	1	0.49mi
14 Hillside St Meriden, CT	4.0	1.0	1175	$2,000	$1.70	20d	1	0.59mi
1001 Old Colony Rd Unit 2-4 Meriden, CT	2.0	1.5	1024	$2,100	$2.05	4d	1	0.84mi
1001 Old Colony Rd Unit 2-4 Meriden, CT	2.0	1.5	1024	$2,200	$2.15	45d	1	0.84mi
1051 Old Colony Rd Unit 24 Meriden, CT	2.0	1.0	800	$1,500	$1.88	25d	1	0.87mi
1051 Old Colony Rd Unit 21 Meriden, CT	2.0	1.0	800	$1,500	$1.88	45d	1	0.92mi
737 Main St Meriden, CT	1.0–2.0	1.0–1.5	825	$1,767	$2.14	4d	6	1.06mi
272 Highland Ave Unit 1 Meriden, CT	3.0	1.0	906	$2,000	$2.21	45d	1	1.13mi
581 Crown St #99 Meriden, CT	2.0	1.0	1000	$1,750	$1.75	4d	1	1.32mi
98 Hall Ave Meriden, CT	2.0	1.5	900	$1,760	$1.96	4d	1	1.42mi
323 Coe Ave Meriden, CT	1.0–3.0	1.0–2.0	775	$2,000	$2.58	3d	6	1.45mi

Listing history 8 events

1. 2026-06-19
   status $218,000 Under Contract 9 DOM
2. 2026-06-18
   days on market $218,000 Active 9 DOM
3. 2026-06-17
   days on market $218,000 Active 8 DOM
4. 2026-06-16
   days on market $218,000 Active 7 DOM
5. 2026-06-15
   days on market $218,000 Active 6 DOM
6. 2026-06-14
   days on market $218,000 Active 4 DOM
7. 2026-06-09
   remarks 508-char remark
8. 2026-06-09
   listed $218,000 Active 1 DOM

ⓘ 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: $3,901 · $325/mo
• Projected year-2 tax: $4,283 · $357/mo
• Expected delta: +$382/yr (+$32/mo · 9.8%)

ⓘ 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 · 17 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: $24,064
• − Mortgage interest: −$12,211
• − Property taxes: −$3,901
• − Insurance: −$1,090
• − Repairs & maintenance: −$1,925
• − Management: −$1,925
• − Depreciation: −$6,342
• Taxable loss: −$3,330
• Est. tax savings @ 24.0%: +$799
• After-tax cash flow: $1,100/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): 24,851
• Household income: $71,255
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 973.0

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 46% Hispanic / Latino 40% Two or more races 26% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 24% Cuban 2% Dominican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Subsaharan African 1%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 65% English-only · Spanish 31% Chinese 1% French/Haitian/Cajun 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: ▼ -45.38%
• Current HPI: 274.0567
• 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

+77.2% since first listed

10 events — show timeline

• 2026-06-09 Listed $218,000 Smart MLS
• 2006-10-25 Sold (MLS) $177,000 Smart MLS
• 2006-05-31 Sold (Public Records) $182,500 Public Records
• 2006-05-31 Sold (Public Records) $182,500 Public Records
• 2006-01-09 Listed $184,900 Smart MLS
• 2005-12-19 Sold (Public Records) $142,000 Public Records
• 2005-12-19 Sold (Public Records) $142,000 Public Records
• 2005-12-16 Sold (MLS) $142,000 Smart MLS
• 2005-10-13 Listed $135,000 Smart MLS
• 1991-07-31 Sold (Public Records) $123,000 Public Records

Property tax history

-0.6%/yr

Latest (2023): $3,901 · +5.5% YoY. Source: county tax records.