17 Ridgeview Rd · Meriden, CT 06451

$239,000

2 bd · 1.0 ba · 1,001 sqft · SingleFamily public records · 6 Days on market

Built 1950 4,791 sqft lot Est $318k · 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 +12.8/30.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom, 1-bath Colonial located in a secluded, park-like setting of Meriden. The main level features a functional layout with a kitchen, living room, and formal dining room, offering comfortable everyday living. Upstairs includes 2 bedrooms and a full bath. The partially finished basement provides additional living space with a family room and walk-out access; perfect for a recreation area, home office, or flex space. Step outside to enjoy the private backyard featuring a covered gazebo-ideal for relaxing or entertaining. Conveniently located near parks, hiking trails, shopping, dining, and local attractions, including Hubbard Park and Castle Craig. Enjoy the feel of a private r

Key facts

• 4,791 sq ft lot
• Parking
• Built 1950

Property features AI

Finance

• Financial info: Assessed value listed

Exterior

• Parking: Driveway parking; 1 parking space
• Utilities: Public water connected; Public sewer connected
• Home design: Single-family home
• Construction: Frame construction; Vinyl siding; Asphalt shingle roof; Concrete foundation; Dark green exterior color
• Exterior features: Sloping lot; Private paved driveway

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating (oil-fired); 40-gallon electric hot water tank; Above-ground fuel tank
• Interior features: Total of 5 rooms; Full basement with partial walk-out
• Laundry & utility: Washer; Electric dryer; Laundry in lower level / basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $-21 ($-254/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (13.6% below list).
• Recommended offer: $207k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Zoned schools: John Barry School (math 26% / reading 37%, grade F, #376 of 553 statewide, top 68%, 472 students, 87% FRL); Orville H. Platt High School (math 12% / reading 32%, grade F, #156 of 194 statewide, top 82%, 1,108 students, 80% FRL) — zoned schools average 84% FRL vs 61% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 70 active listings in the ZIP; 11 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 35% 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $125k; list at $239k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $206,519 (13.6% 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 1950 — 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: 0.86% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.38%
• DSCR: 0.98
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $318,318
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Carey Ave	0.09mi	2/1.0	957 (-4%)	15mo	$293,000	$306	76
584 Gracey Ave	0.30mi	3/1.5 (+1)	1,006 (+0%)	5mo	$324,000	$322	74
31 Hilltop Rd	0.08mi	2/2.0	960 (-4%)	20mo	$270,000	$281	68
574 Gracey Ave	0.31mi	2/1.0	1,070 (+7%)	21mo	$245,000	$229	56
9 Empire Ave	0.75mi	3/1.0 (+1)	1,054 (+5%)	2mo	$335,000	$318	50
53 Nancy Ln	0.64mi	3/1.5 (+1)	960 (-4%)	19mo	$310,000	$323	40

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-40,045
• Equity at exit: $35,636

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-36,478
• Equity at exit: $20,664

Cash invested: $66,920 (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: 9.6×

Monthly cashflow live

• Estimated rent: $2,065 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$300 /mo · $3,597/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $-21

Break-even live

Break-even rent $2,092

Max offer price $235,259

Occupancy floor 96%

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
882 N Colony Rd Meriden, CT	2.0	1.5	1232	$3,000	$2.44	10d	1	0.73mi
200 Sams Rd Meriden, CT	2.0–3.0	1.5–2.5	855	$2,200	$2.57	1d	4	0.99mi
153 Sams Rd Meriden, CT	2.0	2.5	1320	$2,450	$1.86	1d	1	1.15mi
19 Cambridge St Unit 2 Meriden, CT	3.0	1.0	1100	$2,100	$1.91	44d	1	1.24mi
109 Blackstone St Unit 109 Meriden, CT	2.0	1.5	1056	$2,100	$1.99	23d	1	1.24mi
250 Kensington Ave Meriden, CT	2.0	1.0	1200	$1,885	$1.57	1d	1	1.30mi
120 Wilcox Ave #3 Meriden, CT	2.0	1.0	1200	$1,750	$1.46	19d	1	1.39mi
120 Wilcox Ave Unit 2 Meriden, CT	3.0	1.0	1250	$2,000	$1.60	11d	1	1.39mi
61 Colony Pl Unit 3B Furnished Meriden, CT	1.0	1.0	1200	$1,695	$1.41	23d	1	1.43mi
17 Sherman Ave Unit 3rd Meriden, CT	3.0	1.0	1088	$2,300	$2.11	44d	1	1.46mi
300 Britannia St Meriden, CT	1.0–4.0	1.0–2.0	980	$1,928	$1.97	2d	8	1.47mi

Listing history 9 events

1. 2026-06-14
   statusdays on market $239,000 Under Contract 6 DOM
2. 2026-06-10
   statusdays on market $239,000 Under Contract - Continue to Show 5 DOM
3. 2026-06-09
   days on market $239,000 Active 4 DOM
4. 2026-06-08
   days on market $239,000 Active 3 DOM
5. 2026-06-07
   statusdays on market $239,000 Active 2 DOM
6. 2026-06-05
   days on market $239,000 Coming Soon 3 DOM
7. 2026-06-03
   days on market $239,000 Coming Soon 2 DOM
8. 2026-06-02
   remarks 699-char remark
9. 2026-06-02
   listed $239,000 Coming Soon 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: $3,597 · $300/mo
• Projected year-2 tax: $4,356 · $363/mo
• Expected delta: +$759/yr (+$63/mo · 21.1%)

ⓘ 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 5/10 Major 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,782
• − Mortgage interest: −$13,388
• − Property taxes: −$3,597
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,983
• − Management: −$1,983
• − Depreciation: −$6,953
• Taxable loss: −$4,315
• Est. tax savings @ 24.0%: +$1,036
• After-tax cash flow: $782/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

+70.8% since first listed

5 events — show timeline

• 2026-06-01 Coming Soon $239,000 Smart MLS
• 2019-07-16 Sold (Public Records) $125,000 Public Records
• 2019-01-12 Listing Removed — Smart MLS
• 2018-12-14 Price Changed $134,900 Smart MLS
• 2018-07-11 Listed $139,900 Smart MLS

Property tax history

-1.6%/yr

Latest (2023): $3,597 · +5.5% YoY. Source: county tax records.