7 Padanaram Rd Unit B23 · Danbury, CT 06811

$225,000

2 bd · 1.0 ba · 851 sqft · Condo public records · 12 Days on market

Built 1976 $275/mo HOA · 12% 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 +13.4/30.0
• ARV discount +7.5/15.0
• 1% rule +4.8/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Nice 2 Bedroom, 1 Bath condo. Step into the well-appointed kitchen, complete with a refrigerator, microwave, dishwasher, and electric stove, making meal preparation a breeze. The open layout of the living area provides a spacious and inviting atmosphere, perfect for entertaining guests or simply relaxing after a long day. The bedroom offers a peaceful retreat, allowing you to unwind and recharge. Located in a desirable area, this condo is surrounded by a variety of amenities and attractions, ensuring that you'll never be far from entertainment, shopping, and dining options. With its convenient location and essential amenities, this 2 bedroom unit is the perfect place to be home. Don't miss

Key facts

• $275 HOA
• 2 parking spots
• Pool

Property features AI

Finance

• Other: Pets allowed per HOA rules
• HOA & community: Homeowners association with monthly fee; HOA fee includes tennis, trash pickup, snow removal, property management, and pool service; Community pool

Exterior

• Parking: Paved off-street parking; 2 parking spaces
• Utilities: Public water connected; Public sewer connected; Electric service for heat and hot water
• Home design: Condominium in a community complex (Brookside); End unit
• Construction: Frame construction
• Exterior features: Vinyl siding; Deck; In-ground concrete swimming pool

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: Two bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating (electric); Wall unit cooling; 40-gallon electric hot water tank
• Interior features: Coin-operated and common laundry area; Wall air-conditioning unit; Total of 4 rooms; 3-level unit; No basement
• Laundry & utility: Coin-operated laundry; Common laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $4 ($42/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (1.7% below list).
• Recommended offer: $221k (1.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.6% in Danbury — 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 76/100 on livability (#51 in CT, #3,379 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities F, cost of living F.
• Danbury School District (urban): math 19% / reading 32% proficiency, ranked #131 of 153 in CT (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Danbury High School (math 19% / reading 41%, grade F, #137 of 194 statewide, top 70%, 3,590 students, 48% FRL).
• Market conditions: 117 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 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 $7k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $114k; list at $225k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% 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 $221,267 (1.7% below list)

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.98% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.07%
• DSCR: 1.00
• GRM: 8.5

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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-36,087
• Equity at exit: $33,548

10-year hold

• IRR: -7.7%
• Equity multiple: 0.52×
• Total profit: $-30,528
• Equity at exit: $19,454

Cash invested: $63,000 (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 06811

• Active inventory: 117
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,213 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$196 /mo · $2,350/yr
• Insurance: −$94
• HOA: −$275
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $4

Break-even live

Break-even rent $2,208

Max offer price $225,000

Occupancy floor 95%

Sensitivity live

Price	-10% $131	-5% $67	+0% $4	+5% $-60	+10% $-124
Rent	-10% $-171	-5% $-84	+0% $4	+5% $91	+10% $178
Rate	-1.0pp $117	-0.5pp $61	base $4	+0.5pp $-55	+1.0pp $-114

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7 Padanaram Rd Unit C53 Danbury, CT	2.0	1.0	851	$2,150	$2.53	5d	1	0.02mi
7 Padanaram Rd Unit J243 Danbury, CT	1.0	1.0	604	$1,700	$2.81	25d	1	0.02mi
2 Jeanette Rd #43 Danbury, CT	1.0	1.0	741	$2,300	$3.10	45d	1	0.41mi
2 Jeanette St Unit 67 Danbury, CT	1.0	1.0	741	$1,850	$2.50	25d	1	0.49mi
20 Cornell Rd Danbury, CT	2.0	1.0	800	$2,600	$3.25	45d	1	0.49mi
10 Clapboard Ridge Rd Danbury, CT	1.0–3.0	1.0–2.0	1061	$2,757	$2.60	4d	20	0.86mi
10 Balmforth Ave Unit 11 Danbury, CT	3.0	2.0	980	$2,700	$2.76	45d	1	1.30mi
8 Rose St Unit 20-1 Danbury, CT	1.0	1.0	828	$2,000	$2.42	45d	1	1.30mi
333 Main St Danbury, CT	1.0–2.0	1.0–2.0	869	$2,650	$3.05	5d	2	1.35mi
35 9th Ave Unit 1R Danbury, CT	2.0	1.0	650	$2,100	$3.23	16d	1	1.36mi
53 Sand Pit Rd Danbury, CT	1.0–3.0	1.0–2.0	1131	$2,572	$2.27	5d	1	1.37mi
1 Kennedy Ave Danbury, CT	2.0	1.0–2.0	874	$2,720	$3.11	4d	31	1.40mi
15 Bates Pl Unit 11A Danbury, CT	1.0	1.5	850	$2,020	$2.38	16d	1	1.45mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-22
   days on market $225,000 Coming Soon 12 DOM
2. 2026-06-18
   days on market $225,000 Coming Soon 9 DOM
3. 2026-06-17
   days on market $225,000 Coming Soon 8 DOM
4. 2026-06-16
   days on market $225,000 Coming Soon 7 DOM
5. 2026-06-15
   days on market $225,000 Coming Soon 6 DOM
6. 2026-06-13
   days on market $225,000 Coming Soon 4 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $225,000 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: $2,350 · $196/mo
• Projected year-2 tax: $3,582 · $299/mo
• Expected delta: +$1,232/yr (+$103/mo · 52.4%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $26,552
• − Mortgage interest: −$12,603
• − Property taxes: −$2,350
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,124
• − Management: −$2,124
• − HOA: −$3,300
• − Depreciation: −$6,545
• Taxable loss: −$3,620
• Est. tax savings @ 24.0%: +$869
• After-tax cash flow: $911/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: Danbury School District
• NCES district ID: 0901020
• Math proficiency: 19% ▼ -17.00%
• Reading proficiency: 32% ▼ -16.00%
• Median HH income: $65,793
• Composite: 23.93/100
• National rank: #7784
• State rank: #131 of 153 in CT

Livability — Danbury

• Score: 76/100
• State rank: #51
• US rank: #3379

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danbury, CT
• County: Fairfield County · 765,532 people
• City population: 87,061
• Metro: Bridgeport-Stamford-Norwalk, CT
• Population (ZIP): 31,228
• Household income: $104,640
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 551.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 60% Hispanic / Latino 19% Two or more races 10% Black 10% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 6%
• Common ancestry: Russian 4% Romanian 3% Estonian 3%
• Foreign-born: 23% · Canada, Guatemala, China
• Languages at home: 67% English-only · Spanish 16% Other Indo-European 8% Russian/Polish/Slavic 2%

Political lean MEDSL · Western Connecticut

• 2024 margin: D (+19.1) · D 58.8% · R 39.7% · Other 1.6%
• All cycles: 2024: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -361.68%
• Current HPI: 258.6639
• Rent YoY: —
• 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

+259.0% since first listed

3 events — show timeline

• 2026-06-09 Coming Soon $225,000 Smart MLS
• 2003-06-09 Sold (Public Records) $114,000 Public Records
• 2003-04-02 Sold (Public Records) $62,675 Public Records

Property tax history

+1.6%/yr

Latest (2023): $2,350 · +3.8% YoY. Source: county tax records.