296 Main Ave #14 · Norwalk, CT 06851

$335,000

2 bd · 1.5 ba · 1,080 sqft · Condo public records · 22 Days on market

Built 1982 $310/sqft · 23% below area Est $432k · 23% under $547/mo HOA · 19% 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).

• ARV discount +15.0/15.0
• Cash flow +7.2/30.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• Schools +3.4/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this spacious 2 bedroom townhouse style condo, conveniently located near both the Merritt Parkway and I-95, perfect for commuters. The open concept main level features a large living room with a cozy fireplace, abundant natural light from the oversized windows. Sliding glass doors off the dining/kitchen area lead to a private balcony, creating a perfect space to relax. Both bedrooms are generously sized and offer excellent closet space. Laundry and a half bath are located on the main floor. There is basement space for storage. Each unit has two parking spots and additional parking for guests. Please note this complex has guidelines on income restrictions, call listing agent for q

Key facts

• Private balcony
• Cozy fireplace
• $547 HOA

Tags

• TOWNHOUSE STYLE CONDO
• OPEN CONCEPT MAIN LEVEL
• COZY FIREPLACE
• ABUNDANT NATURAL LIGHT
• PRIVATE BALCONY
• EXCELLENT CLOSET SPACE

Property features AI

Finance

• Other: Part of a 30-unit community
• HOA & community: Monthly HOA dues; HOA covers grounds maintenance, trash pickup, snow removal, water, sewer, property management and pest control; Association offers guest parking; Pets allowed with restrictions per condo association rules

Exterior

• Parking: Paved assigned parking in a parking lot; 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Condominium (Condo/Co-Op for sale); Located in the Coach Run complex; End unit
• Construction: Frame construction; Gray exterior color; Has attic with pull-down stairs for storage
• Exterior features: Wood siding; Balcony; Terrace; Sidewalk; Exterior lighting; City views; Level lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central air; Ceiling fans; Electric hot water; Hot air heating (electric)
• Interior features: Open floor plan; One fireplace; Full shared basement with concrete floor and storage
• Laundry & utility: Washer and dryer included; Laundry on main level next to half bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $335k.

Deal economics

• At list price, monthly cash flow is $-461 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (24.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (13.5% below list).
• Recommended offer: $254k (24.3% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 3.4% in Norwalk — 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 77/100 on livability (#41 in CT, #2,966 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, health & safety A+, crime A; Watch: amenities C-, cost of living F.
• Norwalk School District (urban): math 29% / reading 44% proficiency, ranked #104 of 153 in CT (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.1%/yr); 91 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• This rent runs 31% of the median local income ($111k/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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 28y 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 $222k; list at $335k implies a 51% gain — meaningful room to come down on a strong offer.

Recommended offer $253,576 (24.3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.90%
• DSCR: 0.74
• GRM: 9.6

CMA / ARV

• ARV (median comp): $432,271
• List price: $335,000
• Delta: -19.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.11% rent growth · sell at horizon

5-year hold

• IRR: -27.5%
• Equity multiple: 0.08×
• Total profit: $-85,902
• Equity at exit: $49,950

10-year hold

• IRR: -29.6%
• Equity multiple: -0.30×
• Total profit: $-121,705
• Equity at exit: $28,965

Cash invested: $93,800 (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 06851

• Rents YoY: 2.1%
• Active inventory: 91
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,897 high
• Mortgage (P&I): −$1,757
• Tax from tax record: −$306 /mo · $3,675/yr
• Insurance: −$140
• HOA: −$547
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $-461

Break-even live

Break-even rent $3,481

Max offer price $253,576

Occupancy floor —

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Aiken St Norwalk, CT	1.0–2.0	1.0–2.0	909	$2,975	$3.27	24d	2	0.16mi
50 Aiken St #386 Norwalk, CT	2.0	2.0	1082	$2,975	$2.75	44d	1	0.16mi
10 Silver St Unit 1 Norwalk, CT	3.0	1.5	1000	$3,100	$3.10	3d	1	0.18mi
5 Linden St Norwalk, CT	1.0	1.0	1188	$1,750	$1.47	44d	1	0.18mi
71 Aiken St Unit L5 Norwalk, CT	1.0	1.0	739	$2,050	$2.77	44d	1	0.23mi
71 Aiken St Unit J2 Norwalk, CT	2.0	1.5	1220	$3,100	$2.54	19d	1	0.23mi
58 Aiken St Unit A Norwalk, CT	2.0	2.5	1280	$2,675	$2.09	14d	1	0.24mi
42 Center Ave Norwalk, CT	2.0	1.0	1210	$2,500	$2.07	44d	1	0.53mi
2 Lakewood Dr Norwalk, CT	3.0	1.5	1175	$4,300	$3.66	19d	1	0.65mi
25 Grand St Norwalk, CT	1.0–2.0	1.0–1.5	856	$2,950	$3.45	44d	2	0.73mi
25 Grand St #165 Norwalk, CT	2.0	1.0	987	$2,850	$2.89	3d	1	0.73mi
25 Grand St Norwalk, CT	1.0–2.0	1.0–1.5	856	$2,950	$3.45	24d	3	0.73mi
66 Wilton Ave Unit 9 Norwalk, CT	1.0	1.0	800	$1,995	$2.49	44d	1	0.80mi
7 Bartlett Mnr Norwalk, CT	3.0	1.5	1242	$3,800	$3.06	21d	1	0.82mi
3 Oakwood Ave Unit C11 Norwalk, CT	1.0	1.0	728	$2,200	$3.02	44d	1	0.83mi
3 Seir Hill Rd Unit A5 Norwalk, CT	2.0	2.0	1093	$3,100	$2.84	14d	1	0.84mi
7 Eclipse Ave Unit B Norwalk, CT	2.0	1.0	825	$2,550	$3.09	44d	1	0.85mi
9 Cobblers Ln Norwalk, CT	3.0	1.0	1232	$5,000	$4.06	3d	1	0.86mi
7 W Rocks Rd Norwalk, CT	2.0	2.0	1274	$4,000	$3.14	3d	1	0.87mi
7 Seir Hill Rd Norwalk, CT	2.0	1.5–2.5	813	$2,850	$3.51	44d	2	0.89mi
7 Seir Hill Rd Norwalk, CT	2.0	2.5	1118	$3,125	$2.80	3d	2	0.89mi
45 Wilton Ave Unit 1 Norwalk, CT	3.0	1.0	1220	$2,950	$2.42	24d	1	0.91mi
138 Perry Ave Norwalk, CT	1.0	1.0	800	$2,450	$3.06	44d	1	1.13mi
26 Belden Ave Norwalk, CT	1.0–3.0	1.0–2.0	1135	$3,407	$3.00	3d	20	1.22mi
9 Park St Unit 2R Norwalk, CT	1.0	1.0	768	$2,100	$2.73	24d	1	1.31mi
1 Smith St Norwalk, CT	2.0	2.0	1107	$3,350	$3.03	44d	1	1.33mi
2 Margaret St Norwalk, CT	2.0	1.0	1351	$4,000	$2.96	3d	1	1.33mi
5 Isaacs St Unit 3A Norwalk, CT	2.0	2.0	1050	$2,495	$2.38	14d	1	1.35mi
11 Bedford Ave Unit 2 Norwalk, CT	2.0	1.0	857	$2,250	$2.63	19d	1	1.35mi
61 Wall St Norwalk, CT	1.0–2.0	1.0	925	$3,035	$3.28	24d	1	1.36mi
19 Isaacs St #208 Norwalk, CT	2.0	2.0	876	$3,250	$3.71	44d	1	1.41mi
9 Berkeley St Ste 2 Norwalk, CT	2.0	1.5	1000	$2,500	$2.50	44d	1	1.43mi
34 Prospect St Unit 6T Norwalk, CT	1.0	1.0	700	$1,995	$2.85	24d	1	1.44mi
193 Westport Ave Unit 3 Norwalk, CT	1.0	1.0	800	$1,950	$2.44	12d	1	1.49mi

HOA detail condo

• Monthly dues: $547 · $6,564/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 45 events

1. 2026-06-18
   days on market $335,000 Active 22 DOM
2. 2026-06-17
   days on market $335,000 Active 21 DOM
3. 2026-06-16
   days on market $335,000 Active 20 DOM
4. 2026-06-15
   days on market $335,000 Active 19 DOM
5. 2026-06-13
   days on market $335,000 Active 17 DOM
6. 2026-06-13
   pricedays on market $335,000 Active 16 DOM
7. 2026-06-10
   days on market $343,000 Active 14 DOM
8. 2026-06-09
   days on market $343,000 Active 13 DOM
9. 2026-06-08
   days on market $343,000 Active 12 DOM
10. 2026-06-07
    days on market $343,000 Active 11 DOM
11. 2026-06-05
    days on market $343,000 Active 8 DOM
12. 2026-06-03
    days on market $343,000 Active 7 DOM
13. 2026-06-03
    days on market $343,000 Active 6 DOM
14. 2026-06-01
    days on market $343,000 Active 5 DOM
15. 2026-05-31
    days on market $343,000 Active 4 DOM
16. 2026-05-18
    historical
17. 2026-05-02
    historical
18. 2026-05-02
    listed $347,245 Active
19. 2026-05-01
    price $347,245
20. 2026-04-18
    listed $318,795 Active
21. 2018-08-08
    soldstatus $222,500
22. 2018-02-14
    listed $229,500
23. 2014-08-08
    historical
24. 2014-05-27
    listed $215,000
25. 2010-04-01
    soldstatus $222,000
26. 2010-03-31
    soldstatus $222,000
27. 2009-10-09
    listed $220,000
28. 2008-09-10
    historical
29. 2008-06-10
    listed $269,000
30. 2008-04-07
    historical
31. 2008-04-04
    listed $295,000
32. 2008-04-01
    historical
33. 2008-01-01
    listed $295,000
34. 2007-12-26
    historical
35. 2007-09-28
    listed $310,000
36. 2005-01-13
    soldstatus $270,000
37. 2005-01-12
    soldstatus $270,000
38. 2004-12-04
    listed $275,000
39. 2002-11-15
    soldstatus $212,500
40. 2002-11-15
    soldstatus $212,500
41. 2002-09-03
    listed $220,000
42. 1999-05-26
    soldstatus $115,000
43. 1999-05-26
    soldstatus $115,000
44. 1998-09-27
    listed $115,000
45. 1990-08-22
    soldstatus $126,000

ⓘ 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: $3,675 · $306/mo
• Projected year-2 tax: $5,422 · $452/mo
• Expected delta: +$1,747/yr (+$146/mo · 47.5%)

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

Taxation est. · year 1

• Rental income: $34,765
• − Mortgage interest: −$18,765
• − Property taxes: −$3,675
• − Insurance: −$1,675
• − Repairs & maintenance: −$2,781
• − Management: −$2,781
• − HOA: −$6,564
• − Depreciation: −$9,745
• Taxable loss: −$11,222
• Est. tax savings @ 24.0%: +$2,693
• After-tax cash flow: $-2,838/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: Norwalk School District
• NCES district ID: 0903090
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 44% ▼ -6.00%
• Median HH income: $76,540
• Composite: 34.07/100
• National rank: #5297
• State rank: #104 of 153 in CT

Livability — Norwalk

• Score: 77/100
• State rank: #41
• US rank: #2966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwalk, CT
• County: Fairfield County · 765,532 people
• City population: 89,026
• Metro: Bridgeport-Stamford-Norwalk, CT
• Population (ZIP): 27,865
• Household income: $111,341
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 995.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 52% Hispanic / Latino 25% Black 16% Two or more races 12% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Dominican 3%
• Common ancestry: Romanian 4% Hispanic 1% Slovak 1%
• Foreign-born: 27% · Canada, Jamaica, Guatemala
• Languages at home: 68% English-only · Spanish 22% Other Indo-European 5% Russian/Polish/Slavic 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: ▼ -372.10%
• Current HPI: 190.9291
• Rent YoY: ▲ 2.11%
• 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

+165.9% since first listed

32 events — show timeline

• 2026-06-11 Price Changed $335,000 Smart MLS
• 2026-05-27 Listed $343,000 Smart MLS
• 2026-05-18 Listing Removed — Smart MLS
• 2026-05-02 Listing Removed — Smart MLS
• 2026-05-02 Listed $347,245 Smart MLS
• 2026-05-01 Price Changed $347,245 Smart MLS
• 2026-04-18 Listed $318,795 Smart MLS
• 2018-08-08 Sold (MLS) $222,500 Smart MLS
• 2018-02-14 Listed $229,500 Smart MLS
• 2014-08-08 Listing Removed — Smart MLS
• 2014-05-27 Listed $215,000 Smart MLS
• 2010-04-01 Sold (Public Records) $222,000 Public Records
• 2010-03-31 Sold (MLS) $222,000 Smart MLS
• 2009-10-09 Listed $220,000 Smart MLS
• 2008-09-10 Listing Removed — Smart MLS
• 2008-06-10 Listed $269,000 Smart MLS
• 2008-04-07 Listing Removed — Smart MLS
• 2008-04-04 Listed $295,000 Smart MLS
• 2008-04-01 Listing Removed — Smart MLS
• 2008-01-01 Listed $295,000 Smart MLS
• 2007-12-26 Listing Removed — Smart MLS
• 2007-09-28 Listed $310,000 Smart MLS
• 2005-01-13 Sold (MLS) $270,000 Smart MLS
• 2005-01-12 Sold (Public Records) $270,000 Public Records
• 2004-12-04 Listed $275,000 Smart MLS
• 2002-11-15 Sold (Public Records) $212,500 Public Records
• 2002-11-15 Sold (MLS) $212,500 Smart MLS
• 2002-09-03 Listed $220,000 Smart MLS
• 1999-05-26 Sold (Public Records) $115,000 Public Records
• 1999-05-26 Sold (MLS) $115,000 Smart MLS
• 1998-09-27 Listed $115,000 Smart MLS
• 1990-08-22 Sold (Public Records) $126,000 Public Records

Property tax history

+1.5%/yr

Latest (2023): $3,675 · +1.6% YoY. Source: county tax records.