29 Coventry Ln · Riverside, CT 06878

$2,100,000

5 bd · 4.0 ba · 2,612 sqft · SingleFamily public records · 5 Days on market

Built 1968 0.34 ac lot Est $2617k · 20% 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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• Appreciation +8.6/10.0
• Schools +6.6/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Located in one of Riverside's most desirable neighborhoods, this home offers both privacy and convenience. Sun-filled and with hardwood floors throughout, the house provides space and flow, featuring a living room with fireplace, dining room, and updated kitchen with granite countertops and stainless steel appliances. The primary bedroom with en-suite bathroom and multiple closets, along with four additional bedrooms and two baths, complete the upper level. A spacious family room opens to a private patio, ideal for indoor/outdoor living. The finished lower level offers additional flexibility with a playroom, full bath, and laundry room. Set on a beautifully landscaped lot, this home sits on

Key facts

• 0.34 acre lot
• 2 garage spots
• Built 1968

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath single-family listed at $2.10M.

Deal economics

• At list price, monthly cash flow is $-241 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $2.06M (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.61M (23.3% below list).
• Recommended offer: $1.61M (23.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.6% in Riverside — 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 (#60 in CT, #3,626 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, 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: Riverside School (math 84% / reading 89%, grade A+, #4 of 553 statewide, top 1%, 435 students, 2% FRL); Eastern Middle School (math 75% / reading 81%, grade A+, #2 of 175 statewide, top 1%, 784 students, 6% FRL).
• Zoned-school proficiency averages 82% at this address vs 68% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Greenwich School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 45 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).

Forward outlook

• In year one you build about $167k of equity ($15k loan paydown + $153k appreciation (7.3% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$268k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 22y 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 $1.19M; list at $2.10M implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% 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 $1,610,251 (23.3% 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. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $2,617,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 Coventry Ln	0.07mi	5/3.0	2,624 (+0%)	18mo	$1,780,000	$678	78
14 Tyler Ln	0.19mi	4/4.5 (-1)	2,740 (+5%)	14mo	$2,795,000	$1,020	64
25 Summit Rd	0.39mi	4/3.0 (-1)	2,489 (-5%)	3mo	$2,510,000	$1,008	62
39 Riverside Ave	0.44mi	5/4.5	2,775 (+6%)	8mo	$1,995,000	$719	60
37 Miltiades Ave	0.48mi	4/2.5 (-1)	2,540 (-3%)	4mo	$1,999,000	$787	59
6 Miltiades Ave	0.35mi	5/3.5	2,508 (-4%)	20mo	$2,550,000	$1,017	58
153 Lockwood Rd	0.74mi	5/3.5	2,729 (+4%)	1mo	$2,735,000	$1,002	55
19 Bayside Ter	0.40mi	4/2.5 (-1)	2,473 (-5%)	14mo	$2,035,000	$823	50
7 Shaw Pl	0.46mi	4/4.0 (-1)	2,880 (+10%)	9mo	$2,550,000	$885	49
134 Lockwood Rd	0.57mi	4/3.5 (-1)	2,879 (+10%)	10mo	$3,150,000	$1,094	41
143 Lockwood Rd	0.66mi	4/2.5 (-1)	2,367 (-9%)	6mo	$2,425,000	$1,025	38
323 Riverside Ave	0.51mi	4/2.5 (-1)	2,351 (-10%)	19mo	$1,475,000	$627	32

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

Projected returns pro-forma

7.28% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.0%
• Equity multiple: 2.28×
• Total profit: $754,091
• Equity at exit: $1,494,430

10-year hold

• IRR: 17.2%
• Equity multiple: 4.74×
• Total profit: $2,198,851
• Equity at exit: $2,874,961

Cash invested: $588,000 (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 06878

• Home prices YoY: 3.8%
• Active inventory: 45
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $16,103 high
• Mortgage (P&I): −$11,013
• Tax from tax record: −$1,074 /mo · $12,891/yr
• Insurance: −$875
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,382
• Net cashflow: $-241

Break-even live

Break-even rent $16,407

Max offer price $2,057,445

Occupancy floor 96%

Sensitivity live

Price	-10% $948	-5% $353	+0% $-241	+5% $-835	+10% $-1,430
Rent	-10% $-1,513	-5% $-877	+0% $-241	+5% $395	+10% $1,031
Rate	-1.0pp $817	-0.5pp $293	base $-241	+0.5pp $-785	+1.0pp $-1,339

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: $525,000
• Closing costs: $63,000
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Spring St Riverside, CT	5.0	4.0	2924	$18,000	$6.16	45d	1	0.33mi
25 Buxton Ln Riverside, CT	5.0	3.5	2780	$12,995	$4.67	25d	1	0.45mi
30 Bayside Ter Riverside, CT	4.0	3.5	3730	$25,000	$6.70	45d	1	0.45mi
24 Juniper Ln Riverside, CT	4.0	3.5	2843	$14,000	$4.92	4d	1	0.47mi
14 Shoalpoint Ln Riverside, CT	4.0	2.5	2340	$14,000	$5.98	25d	1	0.49mi
10 Durkin Pl Riverside, CT	5.0	4.5	3245	$17,500	$5.39	45d	1	0.67mi
8 Potter Dr Old Greenwich, CT	4.0	3.0	1979	$10,500	$5.31	45d	1	0.71mi
1 Cary Rd Riverside, CT	4.0	3.5	3300	$13,500	$4.09	45d	1	0.77mi
9 Grimes Rd Old Greenwich, CT	5.0	3.5	2799	$22,500	$8.04	45d	1	0.82mi
1 Ernel Dr Riverside, CT	5.0	3.5	2517	$13,000	$5.16	22d	1	0.89mi
15 Shorelands Pl Old Greenwich, CT	4.0	3.5	3271	$19,000	$5.81	22d	1	0.90mi
15 Shorelands Pl Old Greenwich, CT	4.0	3.5	3271	$19,000	$5.81	20d	1	0.90mi
314 Sound Beach Ave Old Greenwich, CT	4.0	2.5	3007	$15,500	$5.15	45d	1	0.91mi
13 Lockwood Ave Old Greenwich, CT	5.0	3.5	3275	$22,000	$6.72	45d	1	1.00mi
71 S Park Ave Old Greenwich, CT	4.0	2.5	3723	$17,500	$4.70	45d	1	1.04mi
9 Valleywood Rd Cos Cob, CT	5.0	3.0	2348	$13,500	$5.75	45d	1	1.14mi
8 Perry Pl Riverside, CT	4.0	3.0	2556	$11,500	$4.50	22d	1	1.14mi
60 Lockwood Ave Old Greenwich, CT	5.0	3.5	2987	$17,500	$5.86	4d	1	1.18mi
41 Grove St Cos Cob, CT	5.0	3.5	2787	$12,000	$4.31	45d	1	1.19mi
28 Pleasant St Cos Cob, CT	4.0	2.5	2140	$6,250	$2.92	13d	1	1.25mi
17 Nawthorne Rd Old Greenwich, CT	4.0	2.5	3132	$25,000	$7.98	45d	1	1.29mi
11 Roosevelt Ave Old Greenwich, CT	5.0	2.5	3430	$21,000	$6.12	45d	1	1.30mi
11 Roosevelt Ave Old Greenwich, CT	5.0	2.5	3430	$18,000	$5.25	4d	1	1.30mi
34 Hassake Rd Old Greenwich, CT	4.0	3.5	2943	$16,000	$5.44	45d	1	1.34mi
11 Annjim Dr Greenwich, CT	5.0	4.0	2417	$19,500	$8.07	15d	1	1.35mi
11 Osee Pl Cos Cob, CT	5.0	4.0	3112	$12,000	$3.86	45d	1	1.36mi
147 Shore Rd Old Greenwich, CT	4.0	3.5	3372	$15,500	$4.60	45d	1	1.37mi
15 Lancer Rd Riverside, CT	4.0	2.5	3031	$8,889	$2.93	25d	1	1.43mi
17 Ballwood Rd Old Greenwich, CT	4.0	2.0	2067	$10,500	$5.08	22d	1	1.47mi
14 Rainbow Dr Riverside, CT	5.0	3.5	3510	$16,000	$4.56	25d	1	1.48mi
1 Crawford Ter Riverside, CT	4.0	4.0	2819	$18,000	$6.39	22d	1	1.49mi

Listing history 14 events

1. 2026-04-08
   status Pending
2. 2026-04-03
   listed $2,100,000 Active
3. 2026-03-30
   historical $2,100,000
4. 2021-06-14
   historical Cancelled
5. 2021-06-11
   historical
6. 2021-05-09
   listed $1,945,000 Active
7. 2021-05-06
   listed $1,945,000 Active
8. 2015-11-02
   historical
9. 2015-10-30
   historical
10. 2015-06-02
    listed $1,645,000
11. 2015-04-14
    listed $1,645,000
12. 2005-01-13
    soldstatus $1,189,000
13. 2005-01-12
    soldstatus $1,189,000
14. 2004-12-01
    listed $1,195,000

ⓘ 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: $12,891 · $1,074/mo
• Projected year-2 tax: $28,916 · $2,410/mo
• Expected delta: +$16,024/yr (+$1,335/mo · 124.3%)

ⓘ 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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $193,230
• − Mortgage interest: −$117,633
• − Property taxes: −$12,891
• − Insurance: −$10,500
• − Repairs & maintenance: −$15,458
• − Management: −$15,458
• − Depreciation: −$61,091
• Taxable loss: −$39,801
• Est. tax savings @ 24.0%: +$9,552
• After-tax cash flow: $6,662/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 — Riverside

• Score: 76/100
• State rank: #60
• US rank: #3626

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverside, CT
• City population: 8,446
• Population (ZIP): 8,446

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 62% Hispanic / Latino 16% Asian 13% Two or more races 12% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 4% Salvadoran 5%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 3%
• Foreign-born: 31% · Canada, Dominican Republic, China
• Languages at home: 64% English-only · Spanish 16% Russian/Polish/Slavic 5% Other Indo-European 3%

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: ▲ 7.28%
• Current HPI: 198.3808
• Rent YoY: —
• Metro: —
• 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

+75.7% since first listed

14 events — show timeline

• 2026-04-08 Pending — GMLS
• 2026-04-03 Listed $2,100,000 GMLS
• 2026-03-30 Coming Soon $2,100,000 GMLS
• 2021-06-14 Delisted — GMLS
• 2021-06-11 Listing Removed — Smart MLS
• 2021-05-09 Listed $1,945,000 Smart MLS
• 2021-05-06 Listed $1,945,000 GMLS
• 2015-11-02 Delisted — GMLS
• 2015-10-30 Listing Removed — Smart MLS
• 2015-06-02 Listed $1,645,000 Smart MLS
• 2015-04-14 Listed $1,645,000 GMLS
• 2005-01-13 Sold (Public Records) $1,189,000 Public Records
• 2005-01-12 Sold (MLS) $1,189,000 GMLS
• 2004-12-01 Listed $1,195,000 GMLS

Property tax history

+4.5%/yr

Latest (2023): $12,891 · +0.9% YoY. Source: county tax records.