10 Monroe St · North Haven, CT 06473

$349,900

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 14 Days on market

Built 1948 0.42 ac lot $347/sqft · 10% below area Est $390k · 10% under

---

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 +12.2/15.0
• Cash flow +10.4/30.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• DSCR +3.0/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cape cod style,3 brs,dr,lr,1 bth. Convenient location, close to shopping and park.To be sold in as is condition.

Key facts

• Rich hardwood floors
• Cape cod style home
• Sunroom

Tags

• CAPE COD STYLE HOME
• LEVEL 0.42 ACRE LOT
• BRIGHT EAT-IN KITCHEN
• RICH HARDWOOD FLOORS
• SUNROOM
• HALF FINISHED BASEMENT

Property features AI

Exterior

• Parking: Attached garage (1-car)
• Utilities: Public water connected; Public sewer connected; Fuel tank located in basement
• Home design: Single-family home
• Construction: Frame and concrete construction; Concrete foundation
• Exterior features: Lightly wooded and open lot; Vinyl siding; Asphalt shingle roof; Blue exterior color

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Three bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Hot air heating fueled by oil; Electric hot water
• Interior features: Seven total rooms; Basement is full and partially finished; Central air conditioning
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-186 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $317k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $273k (21.8% below list).
• Recommended offer: $273k (21.8% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.0% in North Haven — 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 78/100 on livability (#39 in CT, #2,723 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F, cost of living D-.
• North Haven School District (suburban): math 49% / reading 64% proficiency, ranked #55 of 153 in CT (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Clintonville Elementary School (math 47% / reading 52%, grade D, #237 of 553 statewide, top 45%, 371 students, 19% FRL); North Haven Middle School (math 45% / reading 68%, grade B, #59 of 175 statewide, top 34%, 724 students, 22% FRL); North Haven High School (math 41% / reading 64%, grade C-, #79 of 194 statewide, top 40%, 921 students, 25% FRL).
• Market conditions: 78 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $10k of value loss. Plan a longer hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 $115k; list at $350k implies a 204% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $273,499 (21.8% 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 1948 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 5.66%
• Cash-on-cash: -2.27%
• DSCR: 0.90
• GRM: 10.7

CMA / ARV

• ARV (median comp): $390,420
• List price: $349,900
• Delta: -10.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Lincoln St	0.08mi	3/1.0	1,008 (0%)	19mo	$302,500	$300	80
33 Postman Hwy	0.66mi	3/1.0	1,047 (+4%)	8mo	$365,100	$349	56
40 Woodland Ave	0.56mi	3/2.0	1,080 (+7%)	5mo	$410,000	$380	54
29 Lincoln St	0.13mi	4/2.0 (+1)	1,137 (+13%)	22mo	$395,000	$347	46
6 Red Brick Ln	0.65mi	3/1.5	1,152 (+14%)	0mo	$411,000	$357	43
32 Grove Rd	0.70mi	3/1.0	1,056 (+5%)	20mo	$290,000	$275	43
54 Park Rd	0.67mi	2/1.0 (-1)	950 (-6%)	17mo	$310,000	$326	40
43 Allen Rd	0.75mi	3/1.5	1,075 (+7%)	17mo	$360,000	$335	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: -20.1%
• Equity multiple: 0.30×
• Total profit: $-68,520
• Equity at exit: $52,171

10-year hold

• IRR: -13.1%
• Equity multiple: 0.24×
• Total profit: $-74,896
• Equity at exit: $30,253

Cash invested: $97,972 (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 06473

• Active inventory: 78
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,735 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$366 /mo · $4,386/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $-186

Break-even live

Break-even rent $2,970

Max offer price $317,119

Occupancy floor —

Sensitivity live

Price	-10% $13	-5% $-87	+0% $-186	+5% $-285	+10% $-384
Rent	-10% $-402	-5% $-294	+0% $-186	+5% $-78	+10% $31
Rate	-1.0pp $-9	-0.5pp $-97	base $-186	+0.5pp $-276	+1.0pp $-368

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86 Howe St Unit A North Haven, CT	2.0	1.0	750	$2,500	$3.33	4d	1	0.60mi
23 Maiden Ln North Haven, CT	2.0	1.5	879	$2,662	$3.03	4d	6	0.62mi
100 Avalon Haven Dr North Haven, CT	1.0–3.0	1.0–2.0	1009	$3,000	$2.97	16d	5	1.04mi
1400 Hartford Tpke #10 North Haven, CT	3.0	2.0	1295	$2,990	$2.31	45d	1	1.45mi

Listing history 5 events

1. 2026-05-12
   listed $349,900 Active 991-char remark
2. 2015-02-20
   soldstatus $115,000 112-char remark

   Show marketing remark (112 chars)

   Cape cod style,3 brs,dr,lr,1 bth. Convenient location, close to shopping and park.To be sold in as is condition.

3. 2015-01-16
   historical 112-char remark

   Show marketing remark (112 chars)

   Cape cod style,3 brs,dr,lr,1 bth. Convenient location, close to shopping and park.To be sold in as is condition.

4. 2014-05-25
   listed $115,000 112-char remark

   Show marketing remark (112 chars)

   Cape cod style,3 brs,dr,lr,1 bth. Convenient location, close to shopping and park.To be sold in as is condition.

5. 1992-09-30
   soldstatus $125,000

ⓘ 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: $4,386 · $366/mo
• Projected year-2 tax: $5,937 · $495/mo
• Expected delta: +$1,551/yr (+$129/mo · 35.4%)

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

Taxation est. · year 1

• Rental income: $32,820
• − Mortgage interest: −$19,600
• − Property taxes: −$4,386
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,626
• − Management: −$2,626
• − Depreciation: −$10,179
• Taxable loss: −$8,346
• Est. tax savings @ 24.0%: +$2,003
• After-tax cash flow: $-224/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: North Haven School District
• NCES district ID: 0903030
• Math proficiency: 49% ▼ -12.00%
• Reading proficiency: 64% ▼ -8.00%
• Median HH income: $85,727
• Composite: 51.53/100
• National rank: #1714
• State rank: #55 of 153 in CT

Livability — North Haven

• Score: 78/100
• State rank: #39
• US rank: #2723

Category grades

Amenities F Commute F Cost of living D- Crime A- Employment A+ Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Haven, CT
• City population: 24,527
• Population (ZIP): 24,527

Population outlook (South Central Connecticut County) Hauer SSP2

• By 2040: 608,362

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 7% Asian 7% Two or more races 6% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 7% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 11% · China, South Korea, Canada
• Languages at home: 86% English-only · Other Indo-European 4% Spanish 3% Chinese 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: ▼ -294.57%
• Current HPI: 168.0717
• Rent YoY: —
• Metro: —
• 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

+179.9% since first listed

6 events — show timeline

• 2026-05-27 Pending — Smart MLS
• 2026-05-12 Listed $349,900 Smart MLS
• 2015-02-20 Sold (MLS) $115,000 Smart MLS
• 2015-01-16 Listing Removed — Smart MLS
• 2014-05-25 Listed $115,000 Smart MLS
• 1992-09-30 Sold (Public Records) $125,000 Public Records

Property tax history

-0.1%/yr

Latest (2023): $4,386 · +6.3% YoY. Source: county tax records.