12 Nolan Ter · Milford city (balance), CT 06460

$569,000

3 bd · 1.5 ba · 1,209 sqft · SingleFamily public records · 7 Days on market

Built 1980 0.29 ac lot Est $504k · 13% over

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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).

• Schools +4.6/10.0
• Cash flow +4.0/30.0
• Rent growth +3.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover potential in this 3-bedroom raised ranch in Milford, being sold as-is. Perfect for investors or buyers looking to customize. This home is ideally situated on a quiet cul-de-sac in Milford's desirable Woodmont area. Offering a prime location and value-add potential. The main level features a living room, dining area, kitchen with a functional layout leading to an outdoor deck, three spacious bedrooms, a full bath, and closets throughout. The partially finished lower level adds flexible living space with a half bath, laundry area, and attached 2-car garage. A private backyard provides space for outdoor enjoyment. This prime location offers easy access to local schools, shopping, dining, beach access, downtown green spaces with community events, highway access and the Milford Metro-North train station, connecting you to New Haven and New York City. Perfect for buyers or investors ready to personalize a home. Discover your coastal haven! New roof and gutters installed this year. Subject to probate court approval.

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1980

Property features AI

Exterior

• Parking: Under-house garage; Driveway parking; Total 6 parking spaces; 2-car garage
• Utilities: Public water; Public sewer; Natural gas for heating and hot water
• Home design: Single family home
• Construction: Asphalt shingle roof; Vinyl siding; Frame construction; Concrete foundation; Basement is partially finished, heated, cooled, livable and has garage access
• Exterior features: Level lot; Walkable to water; located in a water community; Paved driveway

Interior

• Kitchen: Oven/Range; Microwave; Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central air conditioning; Hot air heating fueled by natural gas; 40-gallon natural gas hot water tank
• Interior features: Open floor plan; Possible in-law apartment with lower-level access
• Laundry & utility: Lower level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $569k.

Deal economics

• At list price, monthly cash flow is $-2k ($-19k/yr) — negative.
• To cash-flow at today's rent, offer at most $289k (49.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (52.5% below list).
• Recommended offer: $270k (52.5% below list) — sets the bar for 1% rule.

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; 13 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 31% 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 $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $420k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $270,209 (52.5% 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. 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: 0.47% ✗
• Cap rate: 2.95%
• Cash-on-cash: -11.92%
• DSCR: 0.47
• GRM: 17.5

CMA / ARV

• ARV (on-the-fly): $504,153
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Hillside Ave	0.10mi	3/1.5	1,190 (-2%)	12mo	$445,000	$374	83
9 South St	0.12mi	3/1.0	1,134 (-6%)	12mo	$500,000	$441	72
32 Burwell Ave	0.17mi	2/1.0 (-1)	1,293 (+7%)	6mo	$468,000	$362	68
62 Pearson Ave	0.16mi	3/1.0	1,056 (-13%)	2mo	$300,000	$284	68
65 Soundview Ave	0.31mi	3/1.5	1,272 (+5%)	15mo	$590,100	$464	64
83 Yale Ave	0.22mi	3/2.5	1,324 (+10%)	7mo	$615,000	$465	64
38 Soundview Ave	0.30mi	2/2.0 (-1)	1,276 (+6%)	10mo	$475,000	$372	61
91 Atwater St	0.61mi	3/2.0	1,272 (+5%)	0mo	$590,000	$464	61
470 Pond Point Ave	0.47mi	2/1.0 (-1)	1,260 (+4%)	6mo	$400,000	$317	59
15 Laura St	0.36mi	3/2.0	1,344 (+11%)	11mo	$545,000	$406	53
38 Atwater St	0.73mi	3/1.0	1,128 (-7%)	10mo	$470,000	$417	45
55 Mary Ellen Dr	0.74mi	3/1.0	1,032 (-15%)	10mo	$435,000	$422	31

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: -39.1%
• Equity multiple: -0.23×
• Total profit: $-195,311
• Equity at exit: $84,840

10-year hold

• IRR: -66.1%
• Equity multiple: -0.94×
• Total profit: $-309,100
• Equity at exit: $49,197

Cash invested: $159,320 (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: 17.5×

Monthly cashflow live

• Estimated rent: $2,702 high
• Mortgage (P&I): −$2,984
• Tax from tax record: −$497 /mo · $5,962/yr
• Insurance: −$237
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $-1,583

Break-even live

Break-even rent $4,706

Max offer price $289,327

Occupancy floor —

Sensitivity live

Price	-10% $-1,261	-5% $-1,422	+0% $-1,583	+5% $-1,744	+10% $-1,905
Rent	-10% $-1,797	-5% $-1,690	+0% $-1,583	+5% $-1,476	+10% $-1,370
Rate	-1.0pp $-1,297	-0.5pp $-1,438	base $-1,583	+0.5pp $-1,731	+1.0pp $-1,881

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: $142,250
• Closing costs: $17,070
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42 Whalley Ave Milford, CT	3.0	1.0	958	$2,500	$2.61	22d	1	0.17mi
42 Whalley Ave Milford, CT	3.0	1.0	958	$2,500	$2.61	3d	1	0.17mi
1080 New Haven Ave #91 Milford, CT	2.0	1.5	963	$2,300	$2.39	3d	1	0.89mi
140 Beach Ave Unit 2 Milford, CT	2.0	1.0	1096	$2,600	$2.37	44d	1	0.91mi
158 Chapel St Unit 2 Milford, CT	3.0	1.0	1213	$1,945	$1.60	44d	1	0.96mi
23 Village Rd Milford, CT	2.0	1.5	1058	$3,100	$2.93	4d	1	0.98mi
59 Melba St Milford, CT	3.0	1.5	1186	$3,500	$2.95	12d	1	1.08mi
27 Melba St Unit B Milford, CT	3.0	1.0	1008	$2,799	$2.78	44d	1	1.14mi
18 Melba St Milford, CT	2.0	1.0	702	$2,200	$3.13	3d	1	1.15mi
17 W Orland St Milford, CT	3.0	1.0	1004	$3,999	$3.98	44d	1	1.22mi
153 Penn Cmn #153 Milford, CT	2.0	1.5	1092	$2,500	$2.29	12d	1	1.25mi
102 Salem Walk #102 Milford, CT	3.0	1.5	1320	$3,400	$2.58	3d	1	1.26mi
54 Milesfield Ave Milford, CT	3.0	1.0	1056	$2,000	$1.89	3d	1	1.46mi

Listing history 7 events

1. 2026-04-29
   status Under Contract
2. 2026-04-23
   listed $569,000 Active
3. 2026-04-20
   historical $569,000
4. 2025-11-24
   soldstatus $420,000 Closed 1033-char remark

   Show marketing remark (1033 chars)

   Discover potential in this 3-bedroom raised ranch in Milford, being sold as-is. Perfect for investors or buyers looking to customize. This home is ideally situated on a quiet cul-de-sac in Milford's desirable Woodmont area. Offering a prime location and value-add potential. The main level features a living room, dining area, kitchen with a functional layout leading to an outdoor deck, three spacious bedrooms, a full bath, and closets throughout. The partially finished lower level adds flexible living space with a half bath, laundry area, and attached 2-car garage. A private backyard provides space for outdoor enjoyment. This prime location offers easy access to local schools, shopping, dining, beach access, downtown green spaces with community events, highway access and the Milford Metro-North train station, connecting you to New Haven and New York City. Perfect for buyers or investors ready to personalize a home. Discover your coastal haven! New roof and gutters installed this year. Subject to probate court approval.

5. 2025-10-12
   historical Under Contract - Continue to Show 1033-char remark

   Show marketing remark (1033 chars)

   Discover potential in this 3-bedroom raised ranch in Milford, being sold as-is. Perfect for investors or buyers looking to customize. This home is ideally situated on a quiet cul-de-sac in Milford's desirable Woodmont area. Offering a prime location and value-add potential. The main level features a living room, dining area, kitchen with a functional layout leading to an outdoor deck, three spacious bedrooms, a full bath, and closets throughout. The partially finished lower level adds flexible living space with a half bath, laundry area, and attached 2-car garage. A private backyard provides space for outdoor enjoyment. This prime location offers easy access to local schools, shopping, dining, beach access, downtown green spaces with community events, highway access and the Milford Metro-North train station, connecting you to New Haven and New York City. Perfect for buyers or investors ready to personalize a home. Discover your coastal haven! New roof and gutters installed this year. Subject to probate court approval.

6. 2025-10-06
   listed $404,900 Active 1033-char remark

   Show marketing remark (1033 chars)

   Discover potential in this 3-bedroom raised ranch in Milford, being sold as-is. Perfect for investors or buyers looking to customize. This home is ideally situated on a quiet cul-de-sac in Milford's desirable Woodmont area. Offering a prime location and value-add potential. The main level features a living room, dining area, kitchen with a functional layout leading to an outdoor deck, three spacious bedrooms, a full bath, and closets throughout. The partially finished lower level adds flexible living space with a half bath, laundry area, and attached 2-car garage. A private backyard provides space for outdoor enjoyment. This prime location offers easy access to local schools, shopping, dining, beach access, downtown green spaces with community events, highway access and the Milford Metro-North train station, connecting you to New Haven and New York City. Perfect for buyers or investors ready to personalize a home. Discover your coastal haven! New roof and gutters installed this year. Subject to probate court approval.

7. 2025-09-29
   historical $404,900 1033-char remark

   Show marketing remark (1033 chars)

   Discover potential in this 3-bedroom raised ranch in Milford, being sold as-is. Perfect for investors or buyers looking to customize. This home is ideally situated on a quiet cul-de-sac in Milford's desirable Woodmont area. Offering a prime location and value-add potential. The main level features a living room, dining area, kitchen with a functional layout leading to an outdoor deck, three spacious bedrooms, a full bath, and closets throughout. The partially finished lower level adds flexible living space with a half bath, laundry area, and attached 2-car garage. A private backyard provides space for outdoor enjoyment. This prime location offers easy access to local schools, shopping, dining, beach access, downtown green spaces with community events, highway access and the Milford Metro-North train station, connecting you to New Haven and New York City. Perfect for buyers or investors ready to personalize a home. Discover your coastal haven! New roof and gutters installed this year. Subject to probate court approval.

ⓘ 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: $5,962 · $497/mo
• Projected year-2 tax: $9,069 · $756/mo
• Expected delta: +$3,107/yr (+$259/mo · 52.1%)

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

Taxation est. · year 1

• Rental income: $32,425
• − Mortgage interest: −$31,873
• − Property taxes: −$5,962
• − Insurance: −$2,845
• − Repairs & maintenance: −$2,594
• − Management: −$2,594
• − Depreciation: −$16,553
• Taxable loss: −$29,996
• Est. tax savings @ 24.0%: +$7,199
• After-tax cash flow: $-11,799/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

+40.5% since first listed

7 events — show timeline

• 2026-04-29 Pending — Smart MLS
• 2026-04-23 Listed $569,000 Smart MLS
• 2026-04-20 Coming Soon $569,000 Smart MLS
• 2025-11-24 Sold (MLS) $420,000 Smart MLS
• 2025-10-12 Contingent — Smart MLS
• 2025-10-06 Listed $404,900 Smart MLS
• 2025-09-29 Coming Soon $404,900 Smart MLS

Property tax history

+1.1%/yr

Latest (2023): $5,962 · +1.9% YoY. Source: county tax records.