3 Ninth Ave · Danbury, CT 06810

$639,000

3 bd · 2.0 ba · 1,960 sqft · MultiFamily public records · 4 Days on market

Built 1880 6,534 sqft lot Est $584k · 9% over

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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 +25.8/30.0
• DSCR +8.6/10.0
• 1% rule +6.2/10.0
• Livability +3.8/5.0
• ARV discount +3.3/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

--- HIGHEST AND BEST OFFERS DUE BY MONDAY APRIL 20TH AT 5PM. --- Rare opportunity to own one of the nicest multi-family homes in Danbury-fully updated, exceptionally maintained, and offering outstanding flexibility and income potential. This turnkey 2-family property with an additional non-conforming third apartment (in-law style) is ideal for both investors and owner-occupants. Features include a 3-4 bedroom unit and separate in-law area (both vacant), plus a 2-bedroom unit (lease through July, can be shown anytime). This home can also easily be converted back to a single-family home if so desired. The home has been extensively updated throughout, including refinished hardwood floors, laminate and tile flooring, new carpet in upstairs bedrooms, and a freshly painted interior. Major improvements include two newer natural gas boilers, gas hot water heaters, and updated roof, plumbing, and electrical. Connected to natural gas, city water & sewer for efficiency and low maintenance. Exterior highlights include a private backyard with deck, low-maintenance aluminum siding, a rare detached 4-car garage with loft storage, and off-street parking for up to 6 additional vehicles. Ideally located between Western Connecticut State University and Danbury Hospital, offering strong rental demand. Projected rental income of approximately $6,750/month ($81,000 annually). A true turnkey, high-income property in a prime location-move-in ready with major updates already complete.

Key facts

• Income potential
• Multi-family homes
• Private backyard

Tags

• MULTI-FAMILY HOMES
• INCOME POTENTIAL
• IN-LAW AREA
• REFINISHED HARDWOOD FLOORS
• NEWER NATURAL GAS BOILERS
• PRIVATE BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $639k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $639k).
• Cap rate 9.2% 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: 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.
• Zoned schools: Hayestown Avenue School (math 17% / reading 27%, grade F, #433 of 553 statewide, top 80%, 449 students, 47% FRL); Danbury High School (math 19% / reading 41%, grade F, #137 of 194 statewide, top 70%, 3,590 students, 48% FRL).
• Market conditions: Rents rising (+3.1%/yr); 197 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).
• At $7,162/mo this rent would consume 112% 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 $19k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 33y 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 $400k; list at $639k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 24% 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 $639,000

Questions for the listing agent

1. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.12% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.42%
• DSCR: 1.46
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $584,080
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 James St	0.16mi	4/2.5 (+1)	1,946 (-1%)	3mo	$580,000	$298	82
26A&B Meadow St	0.11mi	3/3.0	2,026 (+3%)	10mo	$665,000	$328	77
11 Griffing Ave	0.50mi	4/2.0 (+1)	1,819 (-7%)	0mo	$519,900	$286	59

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-4,130
• Equity at exit: $95,277

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $125,815
• Equity at exit: $55,249

Cash invested: $178,920 (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: 21.1×

Monthly cashflow live

• Estimated rent: $7,162 high
• Mortgage (P&I): −$3,351
• Tax from tax record: −$488 /mo · $5,851/yr
• Insurance: −$266
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,504
• Net cashflow: $1,553

Break-even live

Break-even rent $5,196

Max offer price $639,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$5,048
1× unit	2	1	$2,113
Total (3 units)			$7,162

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: $159,750
• Closing costs: $19,170
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Somers St Unit A3 Danbury, CT	2.0	1.5	1713	$2,800	$1.63	43d	1	0.37mi
53 Sand Pit Rd Danbury, CT	1.0–3.0	1.0–2.0	1131	$3,050	$2.70	3d	1	0.87mi
6 Barnum Ct #6 Danbury, CT	3.0	2.5	1620	$3,200	$1.98	14d	1	0.87mi
9 E Broad St #1 Danbury, CT	3.0	2.0	1280	$2,750	$2.15	11d	1	0.88mi
8 Rose St Unit 26-14 Danbury, CT	3.0	1.5	1370	$3,000	$2.19	3d	1	0.89mi
8 Rose St Unit 24-6 Danbury, CT	2.0	1.5	1285	$2,300	$1.79	19d	1	0.89mi
68 Grand St Danbury, CT	3.0	1.0	1480	$1,900	$1.28	3d	1	0.91mi
15 Gallagher Ln Danbury, CT	3.0	2.0	1280	$2,745	$2.14	2d	1	0.91mi
10 Fleetwood Dr Danbury, CT	4.0	2.0	1757	$3,500	$1.99	2d	1	1.11mi
1305 Sienna Dr #1305 Danbury, CT	2.0	2.5	1350	$3,250	$2.41	2d	1	1.24mi
38 Starr Ave Danbury, CT	2.0	1.0	1948	$2,250	$1.16	43d	1	1.26mi
10 Clapboard Ridge Rd Danbury, CT	1.0–3.0	1.0–2.0	1061	$3,308	$3.12	2d	20	1.36mi
14 South St #12 Danbury, CT	2.0	1.5	1410	$2,850	$2.02	11d	1	1.40mi
10 South St #71 Danbury, CT	2.0	1.5	1760	$2,650	$1.51	19d	1	1.48mi

Listing history 10 events

1. 2026-04-21
   status Under Contract

   Show marketing remark (1488 chars)

   --- HIGHEST AND BEST OFFERS DUE BY MONDAY APRIL 20TH AT 5PM. --- Rare opportunity to own one of the nicest multi-family homes in Danbury-fully updated, exceptionally maintained, and offering outstanding flexibility and income potential. This turnkey 2-family property with an additional non-conforming third apartment (in-law style) is ideal for both investors and owner-occupants. Features include a 3-4 bedroom unit and separate in-law area (both vacant), plus a 2-bedroom unit (lease through July, can be shown anytime). This home can also easily be converted back to a single-family home if so desired. The home has been extensively updated throughout, including refinished hardwood floors, laminate and tile flooring, new carpet in upstairs bedrooms, and a freshly painted interior. Major improvements include two newer natural gas boilers, gas hot water heaters, and updated roof, plumbing, and electrical. Connected to natural gas, city water & sewer for efficiency and low maintenance. Exterior highlights include a private backyard with deck, low-maintenance aluminum siding, a rare detached 4-car garage with loft storage, and off-street parking for up to 6 additional vehicles. Ideally located between Western Connecticut State University and Danbury Hospital, offering strong rental demand. Projected rental income of approximately $6,750/month ($81,000 annually). A true turnkey, high-income property in a prime location-move-in ready with major updates already complete.

2. 2026-04-21
   status Under Contract 1488-char remark

   Show marketing remark (1488 chars)

   --- HIGHEST AND BEST OFFERS DUE BY MONDAY APRIL 20TH AT 5PM. --- Rare opportunity to own one of the nicest multi-family homes in Danbury-fully updated, exceptionally maintained, and offering outstanding flexibility and income potential. This turnkey 2-family property with an additional non-conforming third apartment (in-law style) is ideal for both investors and owner-occupants. Features include a 3-4 bedroom unit and separate in-law area (both vacant), plus a 2-bedroom unit (lease through July, can be shown anytime). This home can also easily be converted back to a single-family home if so desired. The home has been extensively updated throughout, including refinished hardwood floors, laminate and tile flooring, new carpet in upstairs bedrooms, and a freshly painted interior. Major improvements include two newer natural gas boilers, gas hot water heaters, and updated roof, plumbing, and electrical. Connected to natural gas, city water & sewer for efficiency and low maintenance. Exterior highlights include a private backyard with deck, low-maintenance aluminum siding, a rare detached 4-car garage with loft storage, and off-street parking for up to 6 additional vehicles. Ideally located between Western Connecticut State University and Danbury Hospital, offering strong rental demand. Projected rental income of approximately $6,750/month ($81,000 annually). A true turnkey, high-income property in a prime location-move-in ready with major updates already complete.

3. 2026-04-16
   listed $639,000 Active

   Show marketing remark (1488 chars)

   --- HIGHEST AND BEST OFFERS DUE BY MONDAY APRIL 20TH AT 5PM. --- Rare opportunity to own one of the nicest multi-family homes in Danbury-fully updated, exceptionally maintained, and offering outstanding flexibility and income potential. This turnkey 2-family property with an additional non-conforming third apartment (in-law style) is ideal for both investors and owner-occupants. Features include a 3-4 bedroom unit and separate in-law area (both vacant), plus a 2-bedroom unit (lease through July, can be shown anytime). This home can also easily be converted back to a single-family home if so desired. The home has been extensively updated throughout, including refinished hardwood floors, laminate and tile flooring, new carpet in upstairs bedrooms, and a freshly painted interior. Major improvements include two newer natural gas boilers, gas hot water heaters, and updated roof, plumbing, and electrical. Connected to natural gas, city water & sewer for efficiency and low maintenance. Exterior highlights include a private backyard with deck, low-maintenance aluminum siding, a rare detached 4-car garage with loft storage, and off-street parking for up to 6 additional vehicles. Ideally located between Western Connecticut State University and Danbury Hospital, offering strong rental demand. Projected rental income of approximately $6,750/month ($81,000 annually). A true turnkey, high-income property in a prime location-move-in ready with major updates already complete.

4. 2026-04-16
   listed $639,000 Active 1488-char remark

   Show marketing remark (1488 chars)

   --- HIGHEST AND BEST OFFERS DUE BY MONDAY APRIL 20TH AT 5PM. --- Rare opportunity to own one of the nicest multi-family homes in Danbury-fully updated, exceptionally maintained, and offering outstanding flexibility and income potential. This turnkey 2-family property with an additional non-conforming third apartment (in-law style) is ideal for both investors and owner-occupants. Features include a 3-4 bedroom unit and separate in-law area (both vacant), plus a 2-bedroom unit (lease through July, can be shown anytime). This home can also easily be converted back to a single-family home if so desired. The home has been extensively updated throughout, including refinished hardwood floors, laminate and tile flooring, new carpet in upstairs bedrooms, and a freshly painted interior. Major improvements include two newer natural gas boilers, gas hot water heaters, and updated roof, plumbing, and electrical. Connected to natural gas, city water & sewer for efficiency and low maintenance. Exterior highlights include a private backyard with deck, low-maintenance aluminum siding, a rare detached 4-car garage with loft storage, and off-street parking for up to 6 additional vehicles. Ideally located between Western Connecticut State University and Danbury Hospital, offering strong rental demand. Projected rental income of approximately $6,750/month ($81,000 annually). A true turnkey, high-income property in a prime location-move-in ready with major updates already complete.

5. 2005-01-25
   soldstatus $400,000
6. 2005-01-20
   soldstatus $400,000 67-char remark

   Show marketing remark (67 chars)

   Immaculate 2 Family Completely Updated. 4 Car Garage Close College.

7. 2004-11-23
   listed $429,900 67-char remark

   Show marketing remark (67 chars)

   Immaculate 2 Family Completely Updated. 4 Car Garage Close College.

8. 1993-10-22
   soldstatus $127,500
9. 1993-10-22
   soldstatus $127,500
10. 1993-06-07
    listed $141,500

ⓘ 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: $5,851 · $488/mo
• Projected year-2 tax: $9,763 · $814/mo
• Expected delta: +$3,912/yr (+$326/mo · 66.9%)

ⓘ 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 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $85,944
• − Mortgage interest: −$35,794
• − Property taxes: −$5,851
• − Insurance: −$3,195
• − Repairs & maintenance: −$6,876
• − Management: −$6,876
• − Depreciation: −$18,589
• Taxable income: $8,764
• Est. tax owed @ 24.0%: −$2,103
• After-tax cash flow: $16,535/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

+351.6% since first listed

10 events — show timeline

• 2026-04-21 Pending — Smart MLS
• 2026-04-21 Pending — Smart MLS
• 2026-04-16 Listed $639,000 Smart MLS
• 2026-04-16 Listed $639,000 Smart MLS
• 2005-01-25 Sold (Public Records) $400,000 Public Records
• 2005-01-20 Sold (MLS) $400,000 Smart MLS
• 2004-11-23 Listed $429,900 Smart MLS
• 1993-10-22 Sold (Public Records) $127,500 Public Records
• 1993-10-22 Sold (MLS) $127,500 Smart MLS
• 1993-06-07 Listed $141,500 Smart MLS

Property tax history

+5.1%/yr

Latest (2023): $5,851 · +17.1% YoY. Source: county tax records.