1465 E Putnam Ave #102 · Riverside, CT 06830

$425,000

1 bd · 1.0 ba · 650 sqft · Condo public records · 16 Days on market

Built 1977 $28/mo HOA · 1% of rent

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Why this score? — see what drove the D 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).

• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +6.6/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +1.3/10.0

Listing remarks MLS

Enjoy one floor living and near ammenities and restaurants like shopping, train, fitness, and Old Greenwich Village. Close to Tod's Point Beach and Binney Park. Common charges include heat, hot water, grounds, snow, and trash. *One or more of this property's owners is a Real Estate Licensee.

Key facts

• $28 HOA
• Built 1977
• Listed 16 days

Property features AI

Finance

• HOA & community: The Common homeowners association; Annual association fee of $330; HOA covers hot water, trash, snow removal, and grounds care

Exterior

• Parking: Off-street parking
• Utilities: Public water
• Home design: Condominium; Built in 1977; Asphalt roof; Clapboard exterior; Zoned R-PHD-SU
• Construction: Clapboard construction; Asphalt roof; Built in 1977
• Exterior features: Public water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Steam heating; Wall unit cooling
• Interior features: No basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $425k.

Deal economics

• At list price, monthly cash flow is $-541 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $329k (22.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (37.4% below list).
• Recommended offer: $266k (37.4% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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: International School At Dundee (math 77% / reading 82%, grade A, #22 of 553 statewide, top 4%, 341 students, 8% FRL); Eastern Middle School (math 75% / reading 81%, grade A+, #2 of 175 statewide, top 1%, 784 students, 6% FRL); Greenwich High School (math 59% / reading 78%, grade B, #23 of 194 statewide, top 12%, 2,668 students, 20% FRL) — zoned schools at 11% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 128 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($3k loan paydown + $29k appreciation (6.9% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($419k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $340k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $266,178 (37.4% 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 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.63% ✗
• Cap rate: 4.77%
• Cash-on-cash: -5.45%
• DSCR: 0.76
• GRM: 13.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.89% appreciation · 3.36% rent growth · sell at horizon

5-year hold

• IRR: 13.3%
• Equity multiple: 1.94×
• Total profit: $111,968
• Equity at exit: $291,514

10-year hold

• IRR: 13.7%
• Equity multiple: 3.97×
• Total profit: $353,274
• Equity at exit: $551,050

Cash invested: $119,000 (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 06830

• Home prices YoY: 4.1%
• Rents YoY: 3.4%
• Active inventory: 128
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,662 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$210 /mo · $2,518/yr
• Insurance: −$177
• HOA: −$28
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $-541

Break-even live

Break-even rent $3,346

Max offer price $329,455

Occupancy floor —

Sensitivity live

Price	-10% $-300	-5% $-421	+0% $-541	+5% $-661	+10% $-781
Rent	-10% $-751	-5% $-646	+0% $-541	+5% $-436	+10% $-331
Rate	-1.0pp $-327	-0.5pp $-433	base $-541	+0.5pp $-651	+1.0pp $-763

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1525 E Putnam Ave #407 Old Greenwich, CT	1.0	1.0	676	$2,590	$3.83	13d	1	0.12mi
19 Piave St Stamford, CT	1.0	1.0	501	$1,995	$3.98	12d	1	0.67mi
1 Birch Dr Unit 38 Stamford, CT	1.0	1.0	675	$2,295	$3.40	45d	1	0.73mi
22 Leslie St #3 Stamford, CT	2.0	1.0	700	$2,600	$3.71	45d	1	0.76mi
14 Southwood Dr Stamford, CT	1.0–2.0	1.0–2.0	801	$2,325	$2.90	4d	4	0.80mi
29 Wilson St Unit 3 Stamford, CT	1.0	1.0	600	$1,900	$3.17	21d	1	0.86mi
22 Orchard St Unit 1 Stamford, CT	2.0	1.0	725	$2,400	$3.31	4d	1	1.15mi
28 Southfield Ave Stamford, CT	1.0–2.0	1.0–2.0	964	$2,661	$2.76	5d	6	1.28mi
9 W Main St Stamford, CT	2.0	1.0–2.0	739	$2,770	$3.75	5d	1	1.29mi
25 Main St Apt 3 Stamford, CT	1.0	1.0	525	$1,850	$3.52	25d	1	1.35mi
75 Tresser Blvd Stamford, CT	2.0	1.0–2.0	870	$3,348	$3.85	4d	21	1.40mi
60 Knobloch Ln Stamford, CT	1.0	1.0	545	$1,675	$3.07	45d	1	1.49mi
100 Tresser Blvd Stamford, CT	3.0	1.0–2.0	1090	$5,121	$4.70	0d	11	1.50mi

HOA detail condo

• Monthly dues: $28 · $336/yr
• Likely covers: watertrashlandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-05-11
   status Pending
2. 2026-04-29
   historical Active Under Contract
3. 2026-04-25
   listed $425,000 Active
4. 2026-04-23
   historical $425,000
5. 2022-06-01
   soldstatus $340,000
6. 2022-05-30
   soldstatus $340,000 Closed 292-char remark

   Show marketing remark (292 chars)

   Enjoy one floor living and near ammenities and restaurants like shopping, train, fitness, and Old Greenwich Village. Close to Tod's Point Beach and Binney Park. Common charges include heat, hot water, grounds, snow, and trash. *One or more of this property's owners is a Real Estate Licensee.

7. 2022-04-20
   historical Under Contract - Continue to Show 292-char remark

   Show marketing remark (292 chars)

   Enjoy one floor living and near ammenities and restaurants like shopping, train, fitness, and Old Greenwich Village. Close to Tod's Point Beach and Binney Park. Common charges include heat, hot water, grounds, snow, and trash. *One or more of this property's owners is a Real Estate Licensee.

8. 2022-04-13
   price $360,000 292-char remark

   Show marketing remark (292 chars)

   Enjoy one floor living and near ammenities and restaurants like shopping, train, fitness, and Old Greenwich Village. Close to Tod's Point Beach and Binney Park. Common charges include heat, hot water, grounds, snow, and trash. *One or more of this property's owners is a Real Estate Licensee.

9. 2022-03-23
   listed $385,000 Active 292-char remark

   Show marketing remark (292 chars)

   Enjoy one floor living and near ammenities and restaurants like shopping, train, fitness, and Old Greenwich Village. Close to Tod's Point Beach and Binney Park. Common charges include heat, hot water, grounds, snow, and trash. *One or more of this property's owners is a Real Estate Licensee.

10. 2004-09-30
    soldstatus $260,000

ⓘ 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: $2,518 · $210/mo
• Projected year-2 tax: $5,806 · $484/mo
• Expected delta: +$3,288/yr (+$274/mo · 130.6%)

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

Taxation est. · year 1

• Rental income: $31,941
• − Mortgage interest: −$23,807
• − Property taxes: −$2,518
• − Insurance: −$2,125
• − Repairs & maintenance: −$2,555
• − Management: −$2,555
• − HOA: −$336
• − Depreciation: −$12,364
• Taxable loss: −$14,319
• Est. tax savings @ 24.0%: +$3,436
• After-tax cash flow: $-3,054/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
• County: Fairfield County · 765,532 people
• City population: 8,446
• Metro: Bridgeport-Stamford-Norwalk, CT
• Population (ZIP): 24,880
• Household income: $146,654
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 1088.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 64% Hispanic / Latino 18% Two or more races 10% Asian 6% Black 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Common ancestry: Romanian 3% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 24% · Canada, Jamaica, China
• Languages at home: 72% English-only · Spanish 12% Other Indo-European 5% Russian/Polish/Slavic 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: ▲ 6.89%
• Current HPI: 173.5938
• Rent YoY: ▲ 3.36%
• 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

+63.5% since first listed

10 events — show timeline

• 2026-05-11 Pending — GMLS
• 2026-04-29 Contingent — GMLS
• 2026-04-25 Listed $425,000 GMLS
• 2026-04-23 Coming Soon $425,000 GMLS
• 2022-06-01 Sold (Public Records) $340,000 Public Records
• 2022-05-30 Sold (MLS) $340,000 Smart MLS
• 2022-04-20 Contingent — Smart MLS
• 2022-04-13 Price Changed $360,000 Smart MLS
• 2022-03-23 Listed $385,000 Smart MLS
• 2004-09-30 Sold (Public Records) $260,000 Public Records

Property tax history

+0.2%/yr

Latest (2023): $2,518 · +0.9% YoY. Source: county tax records.