60 Stephen St · Stamford, CT 06902

$799,900

4 bd · 2.0 ba · 2,408 sqft · MultiFamily public records · 23 Days on market

Built 1925 4,356 sqft lot $332/sqft · 8% below area Est $868k · 8% under

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Why this score? — see what drove the C 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 +21.1/30.0
• ARV discount +11.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.0/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Rental Income $3,600 + $2,600. Cap Rate 7%+. Spacious Stamford 2 Family with strong income potential in convenient West Side location. Updated 2nd & 3rd Floor unit featuring 3 Bedrooms, Office, Large Bonus Room, Modern Eat-In Kitchen with Quartz Countertops and newer appliances. 1st Floor offers 2 Bedrooms, Office/3rd Bedroom, Eat-In Kitchen and Living Room. Gas heat & cooking. Separate utilities. Updated 200 amp service, 3 electric meters and 2 gas meters. Newer roof (approx. 2 years old). 2 car garage plus additional off-street parking. Walking distance to downtown, train station, bus line, UConn, shopping, parks and restaurants. Tenant pays own utilities.

Key facts

• Quartz countertops
• Separate utilities
• 4,356 sq ft lot

Tags

• CONVENIENT WEST SIDE LOCATION
• UPDATED 2ND & 3RD FLOOR UNIT
• MODERN EAT-IN KITCHEN
• QUARTZ COUNTERTOPS
• SEPARATE UTILITIES
• UPDATED 200 AMP SERVICE

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $573/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $800k).
• Recommended offer: $788k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.0% in Stamford — 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 70/100 on livability (#98 in CT) — a middle-class / working-renter tenant base. Strengths: employment A+, health & safety A+, crime A-; Watch: amenities F, commute F, cost of living F.
• Stamford School District (urban): math 32% / reading 43% proficiency, ranked #103 of 153 in CT (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 188 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• At $8,017/mo this rent would consume 101% of the median local household income ($95k/yr) (locally 4139% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($788k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $50k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $515k; list at $800k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% 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 $787,901 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
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 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: 1.00% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.14%
• DSCR: 1.27
• GRM: 8.3

CMA / ARV

• ARV (median comp): $867,706
• List price: $799,900
• Delta: -3.77%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Carolina Rd	0.35mi	4/2.0	2,344 (-3%)	8mo	$835,000	$356	73
29 Roosevelt Ave	0.59mi	3/3.0 (-1)	2,658 (+10%)	0mo	$805,000	$303	46
94 Victory St	0.74mi	4/3.0	2,520 (+5%)	11mo	$816,000	$324	45

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 · 1.95% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.71×
• Total profit: $-65,108
• Equity at exit: $119,268

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $3,246
• Equity at exit: $69,161

Cash invested: $223,972 (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 06902

• Rents YoY: 1.9%
• Active inventory: 188
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $8,017 high
• Mortgage (P&I): −$4,195
• Tax from tax record: −$660 /mo · $7,914/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,684
• Net cashflow: $1,146

Break-even live

Break-even rent $6,567

Max offer price $799,900

Occupancy floor 81%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$8,016
Total (2 units)			$8,017

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: $199,975
• Closing costs: $23,997
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Tresser Blvd Stamford, CT	3.0	1.0–2.0	1090	$9,142	$8.38	1d	11	0.41mi
184 Summer St Stamford, CT	3.0	1.0–2.5	1138	$4,299	$3.78	43d	18	0.42mi
1450 Washington Blvd Stamford, CT	3.0	1.0–2.5	1188	$4,500	$3.79	23d	1	0.42mi
12 Westwood Dr Stamford, CT	4.0	2.5	2734	$6,500	$2.38	23d	1	0.57mi
510 W Main St Unit 2ND FL Stamford, CT	3.0	1.0	2027	$3,150	$1.55	3d	1	0.67mi
70 Forest St Stamford, CT	3.0	3.5	3265	$12,500	$3.83	2d	4	0.77mi
1725 Summer St #1 Stamford, CT	3.0	3.5	1880	$4,800	$2.55	21d	1	0.79mi
20 3rd St #18 Stamford, CT	3.0	2.5	1645	$4,900	$2.98	43d	1	0.80mi
18 Dock St Stamford, CT	3.0	1.0–2.5	1037	$8,632	$8.32	1d	39	0.82mi
130 Forest St #130 Stamford, CT	3.0	2.5	2390	$4,500	$1.88	14d	1	0.89mi
45 Highland Rd #45 Stamford, CT	3.0	2.5	1800	$4,100	$2.28	43d	1	0.90mi
112 4th St Stamford, CT	4.0	4.0	2998	$5,550	$1.85	14d	1	0.94mi
25 Arnold St Old Greenwich, CT	4.0	3.0	2490	$10,500	$4.22	23d	1	0.99mi
6 Halsey Dr Old Greenwich, CT	4.0	3.0	2490	$8,500	$3.41	14d	1	0.99mi
25 Glenbrook Rd Stamford, CT	1.0–3.0	1.0–2.0	1331	$4,462	$3.35	11d	8	1.06mi
16 Manor St Unit B Stamford, CT	3.0	2.0	1750	$3,600	$2.06	14d	1	1.08mi
34 Hassake Rd Old Greenwich, CT	4.0	3.5	2943	$16,000	$5.44	43d	1	1.17mi
237 Strawberry Hill Ave #42 Stamford, CT	3.0	3.5	2870	$4,300	$1.50	14d	1	1.29mi
59 Rock Spring Rd #28 Stamford, CT	3.0	2.5	2783	$3,800	$1.37	19d	1	1.29mi
12 Norton Ln Old Greenwich, CT	4.0	3.5	3285	$15,000	$4.57	21d	1	1.31mi
150 Southfield Ave Stamford, CT	1.0–3.0	1.0–2.0	1263	$5,728	$4.53	1d	37	1.35mi
100 Hope St #5 Stamford, CT	3.0	3.0	2608	$4,500	$1.73	23d	1	1.35mi
1 Crawford Ter Riverside, CT	4.0	4.0	2819	$18,000	$6.39	21d	1	1.42mi
73 Harbor Dr #412 Stamford, CT	3.0	2.5	1665	$6,500	$3.90	21d	1	1.44mi
26 Revere Rd Riverside, CT	4.0	2.5	2383	$13,900	$5.83	10d	1	1.44mi
26 Revere Rd Riverside, CT	4.0	2.5	2383	$13,900	$5.83	11d	1	1.44mi
25 Center Dr Old Greenwich, CT	3.0	2.0	1616	$8,950	$5.54	21d	1	1.45mi
36 Center Dr Old Greenwich, CT	3.0	2.5	3328	$11,300	$3.40	43d	1	1.46mi
92 Burwood Ave Unit 2 Stamford, CT	3.0	1.5	1800	$4,300	$2.39	3d	1	1.49mi

Listing history 31 events

1. 2026-06-18
   days on market $799,900 Active 23 DOM
2. 2026-06-18
   price $799,900 Active 22 DOM
3. 2026-06-17
   days on market $829,000 Active 22 DOM
4. 2026-06-16
   days on market $829,000 Active 21 DOM
5. 2026-06-15
   days on market $829,000 Active 20 DOM
6. 2026-06-13
   days on market $829,000 Active 18 DOM
7. 2026-06-13
   days on market $829,000 Active 17 DOM
8. 2026-06-10
   days on market $829,000 Active 15 DOM
9. 2026-06-09
   days on market $829,000 Active 14 DOM
10. 2026-06-08
    days on market $829,000 Active 13 DOM
11. 2026-06-07
    days on market $829,000 Active 12 DOM
12. 2026-06-05
    days on market $829,000 Active 9 DOM
13. 2026-06-03
    days on market $829,000 Active 8 DOM
14. 2026-06-03
    days on market $829,000 Active 7 DOM
15. 2026-06-01
    days on market $829,000 Active 6 DOM
16. 2026-05-31
    days on market $829,000 Active 5 DOM
17. 2026-05-16
    historical
18. 2026-03-13
    price $835,000
19. 2025-12-29
    listed $850,000 Active
20. 2025-05-23
    historical
21. 2025-05-21
    historical
22. 2025-05-18
    listed $750,000 Active
23. 2025-05-08
    listed $750,000 Active
24. 2019-05-08
    soldstatus $515,000
25. 2019-05-06
    soldstatus $515,000 Closed
26. 2019-04-06
    historical
27. 2019-02-04
    historical Under Contract - Continue to Show
28. 2019-01-30
    listed $535,000 Active
29. 2018-12-13
    historical
30. 2018-05-12
    listed $595,000 Active
31. 1988-02-04
    soldstatus $242,000

ⓘ 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: $7,914 · $660/mo
• Projected year-2 tax: $12,516 · $1,043/mo
• Expected delta: +$4,602/yr (+$383/mo · 58.1%)

ⓘ 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 6/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $96,204
• − Mortgage interest: −$44,807
• − Property taxes: −$7,914
• − Insurance: −$4,000
• − Repairs & maintenance: −$7,696
• − Management: −$7,696
• − Depreciation: −$23,270
• Taxable income: $821
• Est. tax owed @ 24.0%: −$197
• After-tax cash flow: $13,553/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: Stamford School District
• NCES district ID: 0904320
• Math proficiency: 32% ▼ -10.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $78,843
• Composite: 35.14/100
• National rank: #5010
• State rank: #103 of 153 in CT

Livability — Stamford

• Score: 70/100
• State rank: #98
• US rank: #7716

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stamford, CT
• County: Fairfield County · 765,532 people
• City population: 123,058
• Metro: Bridgeport-Stamford-Norwalk, CT
• Population (ZIP): 73,392
• Household income: $94,843
• Rent vs Own: 57.8% rent · 42.2% own
• Severe rent burden: 4139.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Hispanic / Latino 35% White 32% Black 23% Two or more races 13% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 3%
• Common ancestry: Hispanic 5% Romanian 3% Scotch-Irish 1%
• Foreign-born: 36% · Canada, Jamaica, China
• Languages at home: 51% English-only · Spanish 30% French/Haitian/Cajun 6% Other Indo-European 4%

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: ▼ -450.67%
• Current HPI: 173.4108
• Rent YoY: ▲ 1.95%
• 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

+245.0% since first listed

15 events — show timeline

• 2026-05-16 Listing Removed — Smart MLS
• 2026-03-13 Price Changed $835,000 Smart MLS
• 2025-12-29 Listed $850,000 Smart MLS
• 2025-05-23 Listing Removed — Smart MLS
• 2025-05-21 Listing Removed — Smart MLS
• 2025-05-18 Listed $750,000 Smart MLS
• 2025-05-08 Listed $750,000 Smart MLS
• 2019-05-08 Sold (Public Records) $515,000 Public Records
• 2019-05-06 Sold (MLS) $515,000 Smart MLS
• 2019-04-06 Listing Removed — Smart MLS
• 2019-02-04 Contingent — Smart MLS
• 2019-01-30 Listed $535,000 Smart MLS
• 2018-12-13 Listing Removed — Smart MLS
• 2018-05-12 Listed $595,000 Smart MLS
• 1988-02-04 Sold (Public Records) $242,000 Public Records

Property tax history

+5.1%/yr

Latest (2022): $7,914 · +0.9% YoY. Source: county tax records.