59 Pleasant St · Danbury, CT 06810

$559,900

4 bd · 2.0 ba · 1,600 sqft · MultiFamily public records · 188 Days on market

Built 1900 9,583 sqft lot $350/sqft · 12% below area Est $635k · 12% 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 +17.0/30.0
• ARV discount +12.8/15.0
• DSCR +5.3/10.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• 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 MLS

Rarely available two-family in the desirable Pleasant Street neighborhood of Danbury. Property has had a long-term owner and under market rents. Perfect opportunity for an investor or owner occupant. Property conveys "as is" with occupants on a month-to-month lease.

Key facts

• 9,583 sq ft lot
• Built 1900
• Listed 187 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $560k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive. Per door: $191/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $505k (9.9% below list).
• Recommended offer: $493k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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: schools D+, 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.
• Market conditions: Rents rising (+3.1%/yr); 197 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $5,046/mo this rent would consume 79% of the median local household income ($77k/yr) (locally 3255% 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 $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($493k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $50k; list at $560k implies a 1020% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $492,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.93%
• DSCR: 1.13
• GRM: 9.2

CMA / ARV

• ARV (median comp): $634,510
• List price: $559,900
• Delta: -11.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Roger Ave	0.29mi	4/2.0	1,664 (+4%)	5mo	$640,000	$385	76
12 Division St	0.36mi	4/2.0	1,402 (-12%)	11mo	$390,000	$278	54
16 Crofut St	0.25mi	3/2.0 (-1)	1,436 (-10%)	20mo	$601,000	$419	50
17 Bergh St	0.75mi	5/2.0 (+1)	1,663 (+4%)	5mo	$540,000	$325	49

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 · 3.08% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.58×
• Total profit: $-66,039
• Equity at exit: $83,483

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-24,809
• Equity at exit: $48,410

Cash invested: $156,772 (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 06810

• Rents YoY: 3.1%
• Active inventory: 197
• Price-to-rent: 18.5×

Monthly cashflow live

• Estimated rent: $5,046 high
• Mortgage (P&I): −$2,936
• Tax from tax record: −$434 /mo · $5,211/yr
• Insurance: −$233
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,060
• Net cashflow: $383

Break-even live

Break-even rent $4,562

Max offer price $559,900

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$5,046
Total (2 units)			$5,046

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: $139,975
• Closing costs: $16,797
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Rose St Unit 26-14 Danbury, CT	3.0	1.5	1370	$3,000	$2.19	3d	1	0.45mi
68 Grand St Danbury, CT	3.0	1.0	1480	$1,900	$1.28	3d	1	0.62mi
9 Concord St Unit 3 Danbury, CT	3.0	1.0	1160	$2,600	$2.24	44d	1	0.65mi
113 Park Ave Unit 7 Danbury, CT	3.0	1.5	1205	$3,000	$2.49	24d	1	0.68mi
28 Jefferson Ave Danbury, CT	5.0	2.5	2186	$5,900	$2.70	44d	1	0.75mi
22 Irving Pl Danbury, CT	3.0	1.0	1995	$3,000	$1.50	24d	1	0.78mi
6 Barnum Ct #6 Danbury, CT	3.0	2.5	1620	$3,200	$1.98	14d	1	0.78mi
10 Clapboard Ridge Rd Danbury, CT	1.0–3.0	1.0–2.0	1061	$3,308	$3.12	3d	20	0.99mi

Listing history 17 events

1. 2026-06-07
   days on market $559,900 Active 188 DOM
2. 2026-06-05
   days on market $559,900 Active 185 DOM
3. 2026-06-03
   days on market $559,900 Active 184 DOM
4. 2026-06-03
   days on market $559,900 Active 183 DOM
5. 2026-06-01
   days on market $559,900 Active 182 DOM
6. 2026-05-31
   days on market $559,900 Active 181 DOM
7. 2026-03-12
   price $559,900 276-char remark

   Show marketing remark (276 chars)

   Rarely available two-family in the desirable Pleasant Street neighborhood of Danbury. Property has had a long-term owner and under market rents. Perfect opportunity for an investor or owner occupant. Property conveys "as is" with occupants on a month-to-month lease.

8. 2025-12-02
   listed $579,900 Active 276-char remark

   Show marketing remark (276 chars)

   Rarely available two-family in the desirable Pleasant Street neighborhood of Danbury. Property has had a long-term owner and under market rents. Perfect opportunity for an investor or owner occupant. Property conveys "as is" with occupants on a month-to-month lease.

9. 2025-11-26
   historical $579,900 276-char remark

   Show marketing remark (276 chars)

   Rarely available two-family in the desirable Pleasant Street neighborhood of Danbury. Property has had a long-term owner and under market rents. Perfect opportunity for an investor or owner occupant. Property conveys "as is" with occupants on a month-to-month lease.

10. 2025-10-24
    historical
11. 2025-06-20
    status Under Contract
12. 2025-04-10
    historical
13. 2025-04-10
    listed $499,900 Active
14. 2025-03-10
    status Active
15. 2025-02-25
    status Under Contract
16. 2025-01-30
    listed $549,900 Active
17. 1975-05-23
    soldstatus $50,000

ⓘ 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: $5,211 · $434/mo
• Projected year-2 tax: $8,596 · $716/mo
• Expected delta: +$3,385/yr (+$282/mo · 65.0%)

ⓘ 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: $60,552
• − Mortgage interest: −$31,363
• − Property taxes: −$5,211
• − Insurance: −$2,800
• − Repairs & maintenance: −$4,844
• − Management: −$4,844
• − Depreciation: −$16,288
• Taxable loss: −$4,798
• Est. tax savings @ 24.0%: +$1,152
• After-tax cash flow: $5,743/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): 55,833
• Household income: $76,933
• Rent vs Own: 59.5% rent · 40.5% own
• Severe rent burden: 3255.0

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: Hispanic / Latino 37% White 35% Two or more races 19% Black 12% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Dominican 6%
• Common ancestry: Estonian 8% Russian 4% Romanian 3%
• Foreign-born: 41% · Canada, Jamaica, Dominican Republic
• Languages at home: 48% English-only · Spanish 32% Other Indo-European 16% Other Asian/Pacific 1%

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: ▼ -309.71%
• Current HPI: 286.5484
• Rent YoY: ▲ 3.08%
• 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

+1019.8% since first listed

11 events — show timeline

• 2026-03-12 Price Changed $559,900 Smart MLS
• 2025-12-02 Listed $579,900 Smart MLS
• 2025-11-26 Coming Soon $579,900 Smart MLS
• 2025-10-24 Listing Removed — Smart MLS
• 2025-06-20 Pending — Smart MLS
• 2025-04-10 Listing Removed — Smart MLS
• 2025-04-10 Listed $499,900 Smart MLS
• 2025-03-10 Relisted — Smart MLS
• 2025-02-25 Pending — Smart MLS
• 2025-01-30 Listed $549,900 Smart MLS
• 1975-05-23 Sold (Public Records) $50,000 Public Records

Property tax history

+4.4%/yr

Latest (2023): $5,211 · +13.1% YoY. Source: county tax records.