186 Stillwater Ave Apt 129 · Stamford, CT 06902

$212,000

2 bd · 1.5 ba · 933 sqft · Condo public records · 4 Days on market

Built 1986 $300/mo HOA · 10% of rent

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Why this score? — see what drove the B- 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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in this Liberty Square 2-bedroom apartment located in western Stamford. This unit is a fixer-upper, offering great potential for buyers looking to renovate and add value. With a functional layout, spacious rooms, and excellent proximity to shopping, public transportation, Downtown Stamford, and major highways, the location adds tremendous appeal. This property is being sold as-is and is subject to short sale approval, making it an ideal opportunity for investors or handy buyers ready to bring their vision to life.

Key facts

• Spacious rooms
• Excellent proximity
• Shopping

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS ROOMS
• EXCELLENT PROXIMITY
• SHOPPING
• PUBLIC TRANSPORTATION
• DOWNTOWN STAMFORD

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $212k.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $212k).
• Cap rate 9.8% 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.
• Market conditions: Rents rising (+1.9%/yr); 188 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).
• This rent runs 38% of the median local income ($95k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $140k; list at $212k implies a 52% gain — meaningful room to come down on a strong offer.

Recommended offer $212,000

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 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?
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: 1.41% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.39%
• DSCR: 1.55
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.95% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,781
• Equity at exit: $31,610

10-year hold

• IRR: 9.3%
• Equity multiple: 1.68×
• Total profit: $40,155
• Equity at exit: $18,330

Cash invested: $59,360 (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 06902

• Rents YoY: 1.9%
• Active inventory: 188
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,990 high
• Mortgage (P&I): −$1,112
• Tax from tax record: −$249 /mo · $2,988/yr
• Insurance: −$88
• HOA: −$300
• Vacancy / Maint / Mgmt: −$628
• Net cashflow: $613

Break-even live

Break-even rent $2,214

Max offer price $212,000

Occupancy floor 74%

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: $53,000
• Closing costs: $6,360
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Leslie St #3 Stamford, CT	2.0	1.0	700	$2,600	$3.71	43d	1	0.15mi
1 Birch Dr Unit 38 Stamford, CT	1.0	1.0	675	$2,295	$3.40	43d	1	0.31mi
29 Wilson St Unit 3 Stamford, CT	1.0	1.0	600	$1,900	$3.17	19d	1	0.35mi
37 Rose Park Ave Stamford, CT	2.0	1.0	900	$2,100	$2.33	14d	1	0.38mi
9 W Main St Stamford, CT	2.0	1.0–2.0	739	$3,439	$4.65	3d	1	0.40mi
105 Richmond Hill Ave #2 Stamford, CT	2.0	1.5	810	$2,800	$3.46	43d	1	0.41mi
37 Greenwich Ave Unit 2-6 Stamford, CT	2.0	1.0	1115	$2,600	$2.33	43d	1	0.42mi
25 Main St Apt 3 Stamford, CT	1.0	1.0	525	$1,850	$3.52	23d	1	0.47mi
75 Tresser Blvd Stamford, CT	2.0	1.0–2.0	870	$4,271	$4.91	2d	21	0.55mi
81 Tresser Blvd Unit 1547625P Stamford, CT	1.0	1.0	850	$6,099	$7.18	14d	1	0.56mi
74 Myano Ln Unit 1 Stamford, CT	2.0	1.0	1000	$2,500	$2.50	23d	1	0.57mi
14 Relay Pl Unit R3 Stamford, CT	2.0	1.0	1100	$2,450	$2.23	43d	1	0.57mi
14 Southwood Dr Stamford, CT	1.0–2.0	1.0–2.0	801	$2,800	$3.49	3d	4	0.59mi
47 Whitmore Ln Apt 1 Stamford, CT	2.0	1.0	1080	$2,400	$2.22	23d	1	0.59mi
1011 Washington Blvd Stamford, CT	2.0	1.0–2.0	883	$4,351	$4.92	3d	20	0.61mi
100 Tresser Blvd Stamford, CT	3.0	1.0–2.0	1090	$7,230	$6.63	1d	11	0.63mi
15 Renwick St #2 Stamford, CT	2.0	1.5	1064	$2,750	$2.58	43d	1	0.63mi
66 Summer St Stamford, CT	1.0–2.0	1.0–2.0	889	$4,254	$4.78	3d	15	0.67mi
1340 Washington Blvd Stamford, CT	1.0–2.0	1.0–2.0	969	$3,789	$3.91	11d	11	0.68mi
20 North St Unit 11-2 Stamford, CT	1.0	1.0	596	$2,000	$3.36	14d	1	0.68mi
140 Summer St Unit 1A Stamford, CT	1.0	1.0	816	$2,350	$2.88	43d	1	0.70mi
184 Summer St Stamford, CT	2.0	1.0–2.5	901	$4,434	$4.92	2d	18	0.70mi
184 Summer St Stamford, CT	3.0	1.0–2.5	1138	$3,588	$3.15	43d	18	0.70mi
1450 Washington Blvd Stamford, CT	3.0	1.0–2.5	1188	$3,600	$3.03	23d	1	0.70mi
405 Atlantic St Stamford, CT	2.0	1.0–2.0	818	$4,739	$5.79	2d	18	0.71mi
191 Summer St Unit 3 Stamford, CT	1.0	1.0	700	$2,500	$3.57	43d	1	0.73mi
51 Bank St Unit 2C Stamford, CT	1.0	1.0	750	$2,095	$2.79	3d	1	0.73mi
22 Orchard St Unit 1 Stamford, CT	2.0	1.0	725	$2,400	$3.31	3d	1	0.74mi
355 Atlantic St Stamford, CT	2.0	1.0–2.0	840	$4,479	$5.33	3d	13	0.75mi
460 Summer St Ste 310 Stamford, CT	1.0	1.0	550	$2,400	$4.36	3d	1	0.76mi
460 Summer St Unit 500 Stamford, CT	1.0	1.0	550	$2,425	$4.41	14d	1	0.76mi
401 Atlantic St Unit 17f Stamford, CT	1.0	1.0	754	$2,497	$3.31	43d	1	0.76mi
1455 Washington Blvd Stamford, CT	1.0–2.0	1.0–2.0	1041	$4,047	$3.89	3d	8	0.77mi
1 Atlantic St Unit 609 Stamford, CT	1.0	1.0	600	$2,284	$3.81	43d	1	0.78mi
104 North St #604 Stamford, CT	2.0	2.0	1116	$2,950	$2.64	43d	1	0.78mi
104 North St #604 Stamford, CT	2.0	2.0	1116	$3,000	$2.69	14d	1	0.78mi
1525 E Putnam Ave #407 Old Greenwich, CT	1.0	1.0	676	$2,590	$3.83	11d	1	0.79mi
485 Summer St Unit 307 Stamford, CT	1.0	1.0	619	$2,200	$3.55	23d	1	0.80mi
700 Summer St Stamford, CT	1.0	1.0	739	$2,300	$3.11	3d	3	0.82mi
700 Summer St Unit 6C Stamford, CT	1.0	1.0	900	$2,950	$3.28	43d	1	0.82mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2025-12-13
   status Under Contract
2. 2025-12-08
   listed $212,000 Active
3. 1987-06-17
   soldstatus $139,900

ⓘ 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: $2,988 · $249/mo
• Projected year-2 tax: $3,762 · $314/mo
• Expected delta: +$774/yr (+$65/mo · 25.9%)

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

Taxation est. · year 1

• Rental income: $35,879
• − Mortgage interest: −$11,875
• − Property taxes: −$2,988
• − Insurance: −$1,060
• − Repairs & maintenance: −$2,870
• − Management: −$2,870
• − HOA: −$3,600
• − Depreciation: −$6,167
• Taxable income: $4,448
• Est. tax owed @ 24.0%: −$1,068
• After-tax cash flow: $6,288/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): 73,392
• Household income: $94,843
• Rent vs Own: 57.8% rent · 42.2% own
• Severe rent burden: 4139.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Hispanic / Latino 35% White 32% Black 23% Two or more races 13% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 3%
• Common ancestry: Hispanic 5% Romanian 3% Scotch-Irish 1%
• Foreign-born: 36% · Canada, Jamaica, China
• Languages at home: 51% English-only · Spanish 30% French/Haitian/Cajun 6% Other Indo-European 4%

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: ▼ -450.67%
• Current HPI: 173.4108
• Rent YoY: ▲ 1.95%
• 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

+51.5% since first listed

3 events — show timeline

• 2025-12-13 Pending — Smart MLS
• 2025-12-08 Listed $212,000 Smart MLS
• 1987-06-17 Sold (Public Records) $139,900 Public Records

Property tax history

+1.8%/yr

Latest (2022): $2,988 · +0.8% YoY. Source: county tax records.