111 Grove St · Stamford, CT 06901

$849,000

4 bd · 4.0 ba · 3,667 sqft · MultiFamily public records · 28 Days on market

Built 1897 9,147 sqft lot Est $1001k · 15% under ↓ 40% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +14.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.3/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Prime downtown Stamford redevelopment opportunity on a 0.21-acre lot located in an RMF zone. This 3,667 sq ft four-family building is being marketed primarily for its land value and long-term development potential, making it well-suited for builders, developers, and investors seeking to create new residential product in a high-demand urban location. The property is configured with four 1-bedroom, 1-bath units, with the fourth unit offering access to a finished attic that includes an additional full bathroom, providing flexibility in future design or redevelopment concepts. The site presents strong potential for townhouse-style or multi-unit redevelopment, subject to buyer due diligence, zon

Key facts

• Finished attic
• Four-family building
• 0.21-acre lot

Tags

• 0.21-ACRE LOT
• FOUR-FAMILY BUILDING
• FINISHED ATTIC
• TOWNHOUSE-STYLE REDEVELOPMENT
• MULTI-UNIT REDEVELOPMENT
• MINUTES FROM TRAIN STATION

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/5.0-bath units multifamily listed at $849k.

Deal economics

• At list price, monthly cash flow is $7k ($84k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $849k).
• Recommended offer: $836k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.1% 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.
• Zoned schools: Newfield School (math 28% / reading 37%, grade F, #358 of 553 statewide, top 65%, 525 students, 55% FRL); Stamford High School (math 31% / reading 56%, grade F, #98 of 194 statewide, top 51%, 2,048 students, 53% FRL).
• Market conditions: Rents flat; 23 active listings in the ZIP; 10 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).

Forward outlook

• In year one you build about $28k of equity ($6k loan paydown + $22k appreciation (2.6% local appreciation)).
• At projected returns (2.6% appreciation + 0.4% rent growth), your $238k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($836k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $410k; list at $849k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — 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 $836,265 (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 1897 — 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: 1.86% ✓
• Cap rate: 16.14%
• Cash-on-cash: 35.16%
• DSCR: 2.56
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $1,001,091
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 Grove St	0.00mi	4/5.0	3,667 (0%)	0mo	$920,000	$251	96
147 Grove St	0.08mi	5/3.5 (+1)	3,668 (0%)	13mo	$1,000,000	$273	78
31 Coolidge Ave	0.72mi	4/3.0	3,139 (-14%)	22mo	$860,000	$274	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.56% appreciation · 0.37% rent growth · sell at horizon

5-year hold

• IRR: 37.9%
• Equity multiple: 3.04×
• Total profit: $485,622
• Equity at exit: $360,908

10-year hold

• IRR: 37.0%
• Equity multiple: 5.56×
• Total profit: $1,082,897
• Equity at exit: $540,514

Cash invested: $237,720 (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 06901

• Home prices YoY: 2.0%
• Rents YoY: 0.4%
• Active inventory: 23
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $15,804 high
• Mortgage (P&I): −$4,452
• Tax from tax record: −$713 /mo · $8,559/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,319
• Net cashflow: $6,966

Break-even live

Break-even rent $6,986

Max offer price $849,000

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	5	$15,804
Total (4 units)			$15,804

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: $212,250
• Closing costs: $25,470
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70 Forest St Stamford, CT	3.0	3.5	3265	$12,500	$3.83	2d	4	0.10mi
100 Hope St #5 Stamford, CT	3.0	3.0	2608	$4,500	$1.73	23d	1	0.57mi
59 Rock Spring Rd #28 Stamford, CT	3.0	2.5	2783	$3,800	$1.37	19d	1	0.60mi
112 4th St Stamford, CT	4.0	4.0	2998	$5,550	$1.85	14d	1	0.66mi
237 Strawberry Hill Ave #42 Stamford, CT	3.0	3.5	2870	$4,300	$1.50	14d	1	0.72mi
10 Elmwood St Stamford, CT	3.0	2.0	3350	$4,250	$1.27	19d	1	1.32mi
12 Westwood Dr Stamford, CT	4.0	2.5	2734	$6,500	$2.38	23d	1	1.38mi
1093 Shippan Ave Stamford, CT	4.0	2.0	2500	$5,950	$2.38	43d	1	1.46mi
82 Rippowam Rd Stamford, CT	3.0	2.5	2555	$6,999	$2.74	3d	1	1.47mi
88 Maple Tree Ave Unit E Stamford, CT	3.0	2.5	3505	$5,600	$1.60	43d	1	1.48mi

Listing history 7 events

1. 2026-02-26
   status Under Contract
2. 2026-01-29
   listed $849,000 Active
3. 2014-07-18
   soldstatus $410,000
4. 2009-06-26
   historical
5. 2009-05-15
   listed $1,100,000
6. 2009-03-12
   historical
7. 2009-01-12
   listed $1,425,000

ⓘ 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: $8,559 · $713/mo
• Projected year-2 tax: $13,364 · $1,114/mo
• Expected delta: +$4,805/yr (+$400/mo · 56.1%)

ⓘ 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: $189,648
• − Mortgage interest: −$47,557
• − Property taxes: −$8,559
• − Insurance: −$4,245
• − Repairs & maintenance: −$15,172
• − Management: −$15,172
• − Depreciation: −$24,698
• Taxable income: $74,245
• Est. tax owed @ 24.0%: −$17,819
• After-tax cash flow: $65,772/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): 11,037
• Household income: $102,641
• Rent vs Own: 87.0% rent · 13.0% own
• Severe rent burden: 1139.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 41% Black 23% Hispanic / Latino 18% Asian 15% Two or more races 7% Native American 2%
• Hispanic origin (detail): Puerto Rican 7% Dominican 1%
• Common ancestry: Hispanic 6% Romanian 3% Lithuanian 2%
• Foreign-born: 30% · Canada, China, South Korea
• Languages at home: 64% English-only · Spanish 13% French/Haitian/Cajun 6% Other Indo-European 5%

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: ▲ 2.56%
• Current HPI: 132.891
• Rent YoY: ▲ 0.37%
• 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

-40.4% since first listed

7 events — show timeline

• 2026-02-26 Pending — Smart MLS
• 2026-01-29 Listed $849,000 Smart MLS
• 2014-07-18 Sold (Public Records) $410,000 Public Records
• 2009-06-26 Listing Removed — Smart MLS
• 2009-05-15 Listed $1,100,000 Smart MLS
• 2009-03-12 Listing Removed — Smart MLS
• 2009-01-12 Listed $1,425,000 Smart MLS

Property tax history

+4.5%/yr

Latest (2022): $8,559 · +0.9% YoY. Source: county tax records.