106 School St · Fairfield, CT 06824

$410,000

2 bd · 1.5 ba · 1,122 sqft · Condo public records · 35 Days on market

Built 1976

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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 +9.6/30.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• Rent growth +5.0/5.0
• DSCR +2.7/10.0
• 1% rule +2.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fairfield must see beautifully updated Townhouse - 2 large bedrooms, 1 1/2 baths with very large finished basement - end unit of conveniently located 7 unit complex - 106 School Street. $410,000.00 phone calls only 203 226-6511

Key facts

• Updated townhouse
• End unit
• Finished basement

Tags

• UPDATED TOWNHOUSE
• FINISHED BASEMENT
• END UNIT
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $410k.

Deal economics

• At list price, monthly cash flow is $-277 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $361k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $311k (24.2% below list).
• Recommended offer: $311k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Fairfield School District (suburban): math 61% / reading 72% proficiency, ranked #21 of 153 in CT (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+12.4%/yr); 154 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($398k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $150k; list at $410k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $310,586 (24.2% 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. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.76% ✗
• Cap rate: 5.48%
• Cash-on-cash: -2.89%
• DSCR: 0.87
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.41×
• Total profit: $-67,659
• Equity at exit: $61,132

10-year hold

• IRR: -0.7%
• Equity multiple: 0.94×
• Total profit: $-6,964
• Equity at exit: $35,449

Cash invested: $114,800 (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 06824

• Rents YoY: 12.4%
• Active inventory: 154
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $3,106 high
• Mortgage (P&I): −$2,150
• Tax from tax record: −$409 /mo · $4,912/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$652
• Net cashflow: $-277

Break-even live

Break-even rent $3,456

Max offer price $361,134

Occupancy floor —

Sensitivity live

Price	-10% $-45	-5% $-161	+0% $-277	+5% $-393	+10% $-509
Rent	-10% $-522	-5% $-399	+0% $-277	+5% $-154	+10% $-31
Rate	-1.0pp $-70	-0.5pp $-172	base $-277	+0.5pp $-383	+1.0pp $-491

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: $102,500
• Closing costs: $12,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
708 Black Rock Tpke Fairfield, CT	2.0	1.0	1000	$2,625	$2.62	15d	1	0.10mi
528 Black Rock Tpke Unit 108 Fairfield, CT	2.0	1.0	1000	$2,700	$2.70	45d	1	0.12mi
528 Black Rock Tpke Unit 307 Fairfield, CT	3.0	2.0	1200	$4,500	$3.75	25d	1	0.13mi
528 Black Rock Tpke Fairfield, CT	1.0	1.0	1200	$2,300	$1.92	15d	1	0.13mi
245 Sunnyridge Ave #6 Fairfield, CT	2.0	1.0	900	$2,700	$3.00	11d	1	0.15mi
84 Sunnyridge Ave Fairfield, CT	2.0	1.5	1032	$3,395	$3.29	22d	1	0.17mi
38 Poe Ct Fairfield, CT	2.0	1.0	800	$3,100	$3.88	4d	1	0.21mi
258 Jennings Rd Fairfield, CT	2.0	1.0	789	$2,400	$3.04	45d	1	0.29mi
228 Jennings Rd Fairfield, CT	3.0	2.0	1412	$3,750	$2.66	45d	1	0.32mi
228 Jennings Rd Fairfield, CT	3.0	2.0	1412	$3,650	$2.58	15d	1	0.32mi
272 Hunyadi Ave Fairfield, CT	2.0	1.0	1100	$2,550	$2.32	15d	1	0.41mi
75 Stone Ridge Way Unit 3E Fairfield, CT	2.0	2.0	1375	$4,200	$3.05	11d	1	0.42mi
1000 Knapps Hwy #23 Fairfield, CT	2.0	1.0	790	$2,650	$3.35	45d	1	0.42mi
1401 Kings Hwy Fairfield, CT	2.0	1.0–2.0	779	$3,172	$4.07	4d	23	0.46mi
300 Soundview Ave Fairfield, CT	2.0	1.0	1050	$3,000	$2.86	45d	1	0.59mi
65 Roseville St Fairfield, CT	3.0	1.0	1104	$3,500	$3.17	4d	1	0.61mi
65 Roseville St Fairfield, CT	3.0	1.0	1104	$3,700	$3.35	45d	1	0.61mi
306 Canfield Ave Bridgeport, CT	2.0	1.0–2.0	853	$3,428	$4.02	0d	18	0.64mi
722 Knapps Hwy Unit 722 Fairfield, CT	2.0	1.0	1176	$2,300	$1.96	45d	1	0.65mi
720 Knapps Hwy Fairfield, CT	2.0	1.0	1176	$2,300	$1.96	45d	1	0.65mi
220 King St Bridgeport, CT	2.0	1.0	750	$2,300	$3.07	4d	1	0.67mi
125 Tunxis Hill Cut Unit 2 Fairfield, CT	2.0	2.0	1014	$2,650	$2.61	45d	1	0.69mi
206 Scofield Ave Bridgeport, CT	2.0	1.0	1100	$2,200	$2.00	45d	1	0.70mi
709 Tunxis Hill Rd Fairfield, CT	3.0	1.5	1109	$3,900	$3.52	4d	1	0.73mi
764 Ellsworth St Unit 3 Bridgeport, CT	2.0	1.0	1060	$1,700	$1.60	45d	1	0.74mi
168 Alfred St Unit 1 Bridgeport, CT	2.0	1.0	882	$2,200	$2.49	25d	1	0.74mi
158 Scofield Ave Unit 3rd floor Bridgeport, CT	1.0	1.0	835	$1,600	$1.92	15d	1	0.74mi
446 Old Stratfield Rd Fairfield, CT	2.0	1.0	1065	$2,750	$2.58	45d	1	0.75mi
114 Waldorf Ave Unit 2 Bridgeport, CT	3.0	1.0	1200	$2,400	$2.00	4d	1	0.78mi
96 Kenwood Ave Unit Labs Fairfield, CT	3.0	2.0	1300	$3,200	$2.46	45d	1	0.82mi
41 Alfred St Unit 3rd Floor Bridgeport, CT	2.0	1.0	1000	$1,800	$1.80	25d	1	0.85mi
125 Tunxis Hill Rd Fairfield, CT	2.0	2.0	1014	$2,650	$2.61	4d	1	0.86mi
3250 Fairfield Ave #326 Bridgeport, CT	2.0	2.0	1145	$2,550	$2.23	25d	1	0.86mi
2806 Fairfield Ave Unit 301 Bridgeport, CT	1.0	1.0	750	$1,995	$2.66	45d	1	0.89mi
2683 Fairfield Ave Unit 3rd Fl Bridgeport, CT	2.0	1.5	1500	$2,300	$1.53	13d	1	0.89mi
170 Brookfield Ave Fairfield, CT	1.0	1.5	1000	$2,400	$2.40	15d	1	0.91mi
35 Circular Ave Bridgeport, CT	2.0	1.0	1313	$2,300	$1.75	22d	1	0.92mi
540 Villa Ave Unit 542 Fairfield, CT	2.0	1.0	1175	$2,750	$2.34	45d	1	0.93mi
376 Knapps Hwy #376 Fairfield, CT	2.0	1.5	930	$3,350	$3.60	45d	1	0.98mi
40 Beacon View Dr Unit 2 Fairfield, CT	2.0	1.0	720	$2,600	$3.61	25d	1	0.98mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $410,000 Active 35 DOM
2. 2026-06-17
   days on market $410,000 Active 34 DOM
3. 2026-06-16
   days on market $410,000 Active 33 DOM
4. 2026-06-15
   days on market $410,000 Active 32 DOM
5. 2026-06-13
   days on market $410,000 Active 30 DOM
6. 2026-06-10
   days on market $410,000 Active 27 DOM
7. 2026-06-09
   days on market $410,000 Active 26 DOM
8. 2026-06-08
   days on market $410,000 Active 25 DOM
9. 2026-06-07
   days on market $410,000 Active 24 DOM
10. 2026-06-05
    days on market $410,000 Active 21 DOM
11. 2026-06-03
    days on market $410,000 Active 20 DOM
12. 2026-06-03
    days on market $410,000 Active 19 DOM
13. 2026-06-01
    days on market $410,000 Active 18 DOM
14. 2026-05-31
    days on market $410,000 Active 17 DOM
15. 2026-05-15
    listed $410,000 Active 229-char remark
16. 1989-09-20
    soldstatus $150,000

ⓘ 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: $4,912 · $409/mo
• Projected year-2 tax: $6,843 · $570/mo
• Expected delta: +$1,931/yr (+$161/mo · 39.3%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,270
• − Mortgage interest: −$22,966
• − Property taxes: −$4,912
• − Insurance: −$2,050
• − Repairs & maintenance: −$2,982
• − Management: −$2,982
• − Depreciation: −$11,927
• Taxable loss: −$10,549
• Est. tax savings @ 24.0%: +$2,532
• After-tax cash flow: $-788/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: Fairfield School District
• NCES district ID: 0901530
• Math proficiency: 61% ▼ -10.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $119,139
• Composite: 63.03/100
• National rank: #650
• State rank: #21 of 153 in CT

Livability — Fairfield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Fairfield County · 765,532 people
• City population: 58,698
• Metro: Bridgeport-Stamford-Norwalk, CT
• Population (ZIP): 36,716
• Household income: $193,300
• Rent vs Own: 15.6% rent · 84.4% own
• Severe rent burden: 380.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Asian 5% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Romanian 7% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 3% Arabic 1%

Political lean MEDSL · Greater Bridgeport

• 2024 margin: Strong D (+23.3) · D 60.9% · R 37.6% · Other 1.5%
• All cycles: 2024: D+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -723.44%
• Current HPI: 178.7206
• Rent YoY: ▲ 12.37%
• Metro: Bridgeport-Stamford-Norwalk, 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

+173.3% since first listed

2 events — show timeline

• 2026-05-15 Listed $410,000 FSBO.com
• 1989-09-20 Sold (Public Records) $150,000 Public Records

Property tax history

+1.0%/yr

Latest (2023): $4,912 · +1.0% YoY. Source: county tax records.