407 Swanson Cres #407 · Milford city (balance), CT 06461

$279,900

1 bd · 1.0 ba · 931 sqft · Condo · 20 Days on market

Built 1978 $366/mo HOA · 13% of rent

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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 +12.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +4.6/10.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

First floor end unit updated in a great complex in the Swanson Crescent section ready for immediate occupancy first off the condo association fee includes the gas new heat and hot water just installed Living room dining room combination very open floor plan master bedroom with 2 very spacious closets additional den can be used office, play room or guest room appliances included stove dishwasher refrigerator microwave washer and dryer in large separate closet area. private patio off living room with country views good for the morning coffee or the evening cocktail offers in ground pool Bocci and tennis court.

Key facts

• Garden area
• Brand new kitchen
• New cabinets

Tags

• BRAND NEW KITCHEN
• GRANITE COUNTERTOPS
• NEW CABINETS
• NEW APPLIANCES
• PEACEFUL BACK PATIO
• GARDEN AREA

Property features AI

Finance

• Other: Complex name: Foxwood; Total units in complex: 327
• Financial info: Unit owners association manages the property; Pets allowed: one pet per unit
• HOA & community: Monthly HOA fee; HOA covers heat, hot water, water, trash pickup, snow removal, grounds maintenance, pest control, tennis; Association amenities include pool and paddle tennis

Exterior

• Parking: Assigned parking (1 space); Guest parking available in the association
• Utilities: Public water connected; Public sewer connected; Hot water: other; Heat fuel: natural gas
• Home design: Condominium in Foxwood complex; End unit; Unit located on first floor
• Construction: Frame construction
• Exterior features: Wood siding; Deck; Gutters; Garden area; Tennis court; In-ground heated pool; Lightly wooded, level lot on a cul-de-sac

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: 1 bedroom (on main level)
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (natural gas); Window air-conditioning unit
• Interior features: One-level unit; Total of 4 rooms; No basement
• Laundry & utility: Washer and dryer in unit (laundry in closet on main level)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $280k.

Deal economics

• At list price, monthly cash flow is $-58 ($-699/yr) — negative.
• To cash-flow at today's rent, offer at most $271k (3.0% below list).
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $271k (3.0% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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; 2 comparable units currently listed for rent nearby; 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 $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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.

Recommended offer $271,474 (3.0% 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 1978 — 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: 1.01% ✓
• Cap rate: 6.04%
• Cash-on-cash: -0.89%
• DSCR: 0.96
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.6%
• Equity multiple: 0.38×
• Total profit: $-48,797
• Equity at exit: $41,734

10-year hold

• IRR: -9.5%
• Equity multiple: 0.41×
• Total profit: $-46,179
• Equity at exit: $24,201

Cash invested: $78,372 (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: 8.2×

Monthly cashflow live

• Estimated rent: $2,838 medium
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,198/yr
• Insurance: −$117
• HOA: −$366
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $-58

Break-even live

Break-even rent $2,912

Max offer price $271,474

Occupancy floor 97%

Sensitivity live

Price	-10% $135	-5% $38	+0% $-58	+5% $-155	+10% $-252
Rent	-10% $-282	-5% $-170	+0% $-58	+5% $54	+10% $166
Rate	-1.0pp $83	-0.5pp $13	base $-58	+0.5pp $-131	+1.0pp $-205

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70 Tumblebrook Rd Milford, CT	2.0	1.0	1056	$3,500	$3.31	45d	1	0.35mi
158 Cherry St Milford, CT	1.0	1.0	703	$2,535	$3.61	4d	1	1.48mi

HOA detail condo

• Monthly dues: $366 · $4,392/yr
• Likely covers: watergaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-17
   status Under Contract 888-char remark
2. 2026-05-13
   status Active 888-char remark
3. 2026-05-07
   historical Under Contract - Continue to Show 888-char remark
4. 2026-04-27
   listed $279,900 Active 888-char remark
5. 2017-11-03
   soldstatus $162,500 622-char remark

   Show marketing remark (622 chars)

   First floor end unit updated in a great complex in the Swanson Crescent section ready for immediate occupancy first off the condo association fee includes the gas new heat and hot water just installed Living room dining room combination very open floor plan master bedroom with 2 very spacious closets additional den can be used office, play room or guest room appliances included stove dishwasher refrigerator microwave washer and dryer in large separate closet area. private patio off living room with country views good for the morning coffee or the evening cocktail offers in ground pool Bocci and tennis court.

6. 2017-10-23
   historical 622-char remark

   Show marketing remark (622 chars)

   First floor end unit updated in a great complex in the Swanson Crescent section ready for immediate occupancy first off the condo association fee includes the gas new heat and hot water just installed Living room dining room combination very open floor plan master bedroom with 2 very spacious closets additional den can be used office, play room or guest room appliances included stove dishwasher refrigerator microwave washer and dryer in large separate closet area. private patio off living room with country views good for the morning coffee or the evening cocktail offers in ground pool Bocci and tennis court.

7. 2017-08-18
   listed $164,900 622-char remark

   Show marketing remark (622 chars)

   First floor end unit updated in a great complex in the Swanson Crescent section ready for immediate occupancy first off the condo association fee includes the gas new heat and hot water just installed Living room dining room combination very open floor plan master bedroom with 2 very spacious closets additional den can be used office, play room or guest room appliances included stove dishwasher refrigerator microwave washer and dryer in large separate closet area. private patio off living room with country views good for the morning coffee or the evening cocktail offers in ground pool Bocci and tennis court.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $34,057
• − Mortgage interest: −$15,679
• − Property taxes: −$4,198
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,725
• − Management: −$2,725
• − HOA: −$4,392
• − Depreciation: −$8,143
• Taxable loss: −$5,203
• Est. tax savings @ 24.0%: +$1,249
• After-tax cash flow: $550/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

+66.8% since first listed

8 events — show timeline

• 2026-06-05 Sold (MLS) $275,000 Smart MLS
• 2026-05-17 Pending — Smart MLS
• 2026-05-13 Relisted — Smart MLS
• 2026-05-07 Contingent — Smart MLS
• 2026-04-27 Listed $279,900 Smart MLS
• 2017-11-03 Sold (MLS) $162,500 Smart MLS
• 2017-10-23 Listing Removed — Smart MLS
• 2017-08-18 Listed $164,900 Smart MLS