351 Pemberwick Rd #818 · Greenwich, CT 06831

$475,000

1 bd · 1.0 ba · 646 sqft · Condo public records · 10 Days on market

Built 1991 $735/sqft · at area comps Est $472k · at est. $341/mo HOA · 7% of rent

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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 +18.2/30.0
• ARV discount +7.2/15.0
• Schools +6.6/10.0
• DSCR +5.7/10.0
• 1% rule +4.8/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unit 818 at Hawthorne is a beautifully-renovated one bedroom, one bathroom unit that's ideal for downsizers, professionals, or anyone looking for a peaceful community that's just minutes from town. The kitchen, with generous storage for all your cooking needs, features GE appliances and a breakfast bar. A light and bright living room opens to a quiet backyard overlooking the woods. The generously-sized bedroom has two closets and a full bathroom with a large vanity and beautiful shower. Stacked laundry beside kitchen. Situated in the heart of Glenville, this home puts you within close distance of local shops, restaurants, and the soon-to-open DeCicco's market, adding even more convenience to your everyday routine. A dedicated indoor garage spot is included, ensuring hassle-free living.

Key facts

• Overlooking woods
• Generous storage
• Ge appliances

Tags

• RENOVATED UNIT
• GENEROUS STORAGE
• GE APPLIANCES
• BREAKFAST BAR
• QUIET BACKYARD
• OVERLOOKING WOODS

Property features AI

Finance

• Other: Pets allowed with restrictions (one pet); Unit is one of 80 in the complex; Nearby amenities include library, playground/tot lot and shopping
• Financial info: Assessed value listed
• HOA & community: Monthly HOA fee; HOA includes grounds maintenance, trash pickup, snow removal and water; Building has an elevator

Exterior

• Parking: Under-house garage (1 garage)
• Utilities: Public water connected; Public sewer connected; Hot water: Natural gas
• Home design: Condominium (unit in a multi-unit building)
• Construction: Frame construction
• Exterior features: Clapboard siding; Lightly wooded surroundings

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 1 bedroom (unit on first floor)
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating (natural gas); Central air
• Interior features: Central air conditioning; No basement
• Laundry & utility: Washer and dryer next to the kitchen on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $475k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/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 $467k (1.6% below list).
• Recommended offer: $467k (1.6% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 0.7% in Greenwich — 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 80/100 on livability (#23 in CT, #1,655 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities D, cost of living F.
• Greenwich School District (suburban): math 64% / reading 73% proficiency, ranked #12 of 153 in CT (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Glenville School (math 68% / reading 73%, grade A-, #75 of 553 statewide, top 14%, 382 students, 8% FRL); Western Middle School (math 50% / reading 59%, grade B-, #67 of 175 statewide, top 39%, 617 students, 38% FRL); Greenwich High School (math 59% / reading 78%, grade B, #23 of 194 statewide, top 12%, 2,668 students, 20% FRL).
• Market conditions: 114 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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 $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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 $385k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $467,467 (1.6% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
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. 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.
6. 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.
7. 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: 7.36%
• Cash-on-cash: 3.83%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (median comp): $472,257
• List price: $475,000
• Delta: 0.58%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.3%
• Equity multiple: 0.62×
• Total profit: $-49,906
• Equity at exit: $70,824

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-8,436
• Equity at exit: $41,069

Cash invested: $133,000 (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 06831

• Active inventory: 114
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $4,675 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$239 /mo · $2,870/yr
• Insurance: −$198
• HOA: −$341
• Vacancy / Maint / Mgmt: −$982
• Net cashflow: $424

Break-even live

Break-even rent $4,138

Max offer price $475,000

Occupancy floor 86%

Sensitivity live

Price	-10% $693	-5% $558	+0% $424	+5% $290	+10% $155
Rent	-10% $55	-5% $239	+0% $424	+5% $609	+10% $793
Rate	-1.0pp $663	-0.5pp $545	base $424	+0.5pp $301	+1.0pp $176

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Glenville St Greenwich, CT	3.0	1.0–3.5	1409	$4,766	$3.38	0d	4	0.16mi
12 Arther St Unit 1 Greenwich, CT	1.0	1.0	700	$3,250	$4.64	45d	1	1.33mi

HOA detail condo

• Monthly dues: $341 · $4,092/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-11
   listed $475,000 Active 796-char remark

   Show marketing remark (796 chars)

   Unit 818 at Hawthorne is a beautifully-renovated one bedroom, one bathroom unit that's ideal for downsizers, professionals, or anyone looking for a peaceful community that's just minutes from town. The kitchen, with generous storage for all your cooking needs, features GE appliances and a breakfast bar. A light and bright living room opens to a quiet backyard overlooking the woods. The generously-sized bedroom has two closets and a full bathroom with a large vanity and beautiful shower. Stacked laundry beside kitchen. Situated in the heart of Glenville, this home puts you within close distance of local shops, restaurants, and the soon-to-open DeCicco's market, adding even more convenience to your everyday routine. A dedicated indoor garage spot is included, ensuring hassle-free living.

2. 2026-05-11
   listed $475,000 Active 798-char remark

   Show marketing remark (796 chars)

   Unit 818 at Hawthorne is a beautifully-renovated one bedroom, one bathroom unit that's ideal for downsizers, professionals, or anyone looking for a peaceful community that's just minutes from town. The kitchen, with generous storage for all your cooking needs, features GE appliances and a breakfast bar. A light and bright living room opens to a quiet backyard overlooking the woods. The generously-sized bedroom has two closets and a full bathroom with a large vanity and beautiful shower. Stacked laundry beside kitchen. Situated in the heart of Glenville, this home puts you within close distance of local shops, restaurants, and the soon-to-open DeCicco's market, adding even more convenience to your everyday routine. A dedicated indoor garage spot is included, ensuring hassle-free living.

3. 2020-10-19
   historical

   Show marketing remark (27 chars)

   FOR REPORTING PURPOSES ONLY

4. 2020-10-19
   soldstatus $385,000 Closed

   Show marketing remark (27 chars)

   FOR REPORTING PURPOSES ONLY

5. 2020-10-19
   listed $385,000

   Show marketing remark (27 chars)

   FOR REPORTING PURPOSES ONLY

6. 2020-10-19
   soldstatus $385,000

   Show marketing remark (27 chars)

   FOR REPORTING PURPOSES ONLY

7. 1991-08-27
   soldstatus $152,900

ⓘ 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: $2,870 · $239/mo
• Projected year-2 tax: $6,518 · $543/mo
• Expected delta: +$3,648/yr (+$304/mo · 127.1%)

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

Taxation est. · year 1

• Rental income: $56,096
• − Mortgage interest: −$26,607
• − Property taxes: −$2,870
• − Insurance: −$2,375
• − Repairs & maintenance: −$4,488
• − Management: −$4,488
• − HOA: −$4,092
• − Depreciation: −$13,818
• Taxable loss: −$2,642
• Est. tax savings @ 24.0%: +$634
• After-tax cash flow: $5,722/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: Greenwich School District
• NCES district ID: 0901710
• Math proficiency: 64% ▼ -7.00%
• Reading proficiency: 73% ▼ -5.00%
• Median HH income: $129,257
• Composite: 65.67/100
• National rank: #461
• State rank: #12 of 153 in CT

Livability — Greenwich

• Score: 80/100
• State rank: #23
• US rank: #1655

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glenville, CT
• County: Fairfield County · 765,532 people
• City population: 47,954
• Metro: Bridgeport-Stamford-Norwalk, CT
• Population (ZIP): 15,210
• Household income: $227,159
• Rent vs Own: 21.0% rent · 79.0% own
• Severe rent burden: 252.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 5% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 5% Slovak 5% Scotch-Irish 4%
• Foreign-born: 14% · Canada, China, Jamaica
• Languages at home: 86% English-only · Spanish 4% Other Indo-European 3% Chinese 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: ▼ -113.13%
• Current HPI: 174.7861
• 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

+210.7% since first listed

9 events — show timeline

• 2026-05-21 Pending — Smart MLS
• 2026-05-21 Pending — GMLS
• 2026-05-11 Listed $475,000 GMLS
• 2026-05-11 Listed $475,000 Smart MLS
• 2020-10-19 Delisted — GMLS
• 2020-10-19 Sold (Public Records) $385,000 Public Records
• 2020-10-19 Listed $385,000 GMLS
• 2020-10-19 Sold (MLS) $385,000 GMLS
• 1991-08-27 Sold (Public Records) $152,900 Public Records

Property tax history

+1.3%/yr

Latest (2023): $2,870 · +0.9% YoY. Source: county tax records.