127 Canaan Bldg 82 Ct #28 · Stratford, CT 06614

$56,000

2 bd · 1.0 ba · 622 sqft · Condo · 127 Days on market

Built 1943 Fair condition $90/sqft · 10% below area Est $62k · 10% under $756/mo HOA · 45% 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 +29.3/30.0
• ARV discount +12.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ideal opportunity, move in condition 2 bedroom coop! Heat, hot water, taxes are included in the common charges. Cash only, minimum approximate credit score 650, and $4,000.00 per month income.

Key facts

• $756 HOA
• Parking
• Built 1943

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $56k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $56k).
• Recommended offer: $49k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#56 in CT, #3,523 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A-; Watch: commute F.
• Stratford School District (urban): math 22% / reading 38% proficiency, ranked #122 of 153 in CT (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 138 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $387 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent; built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.03% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.01%
• DSCR: 1.67
• GRM: 2.8

CMA / ARV

• ARV (median comp): $62,262
• List price: $56,000
• Delta: -10.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.3%
• Equity multiple: 1.25×
• Total profit: $3,908
• Equity at exit: $8,350

10-year hold

• IRR: 16.3%
• Equity multiple: 2.37×
• Total profit: $21,479
• Equity at exit: $4,842

Cash invested: $15,680 (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 06614

• Active inventory: 138
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,695 high
• Mortgage (P&I): −$294
• Tax est. 1.5%: −$70 /mo · $840/yr
• Insurance: −$23
• HOA: −$756
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $196

Break-even live

Break-even rent $1,447

Max offer price $56,000

Occupancy floor 83%

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: $14,000
• Closing costs: $1,680
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 Henry Ave Unit 12E Stratford, CT	1.0	1.0	692	$1,695	$2.45	10d	1	0.12mi
250 N Bishop Ave #19 Bridgeport, CT	1.0	1.0	638	$1,650	$2.59	43d	1	0.22mi
250 N Bishop Ave Bridgeport, CT	1.0	1.0	611	$1,425	$2.33	23d	2	0.22mi
250 N Bishop Ave #1 Bridgeport, CT	1.0	1.0	583	$1,650	$2.83	11d	1	0.22mi
86 Birdsey St Unit 3R Bridgeport, CT	1.0	1.0	650	$1,350	$2.08	43d	1	0.58mi
192 Peace St Unit 1st floor Stratford, CT	2.0	1.0	712	$2,000	$2.81	43d	1	0.64mi
600 Bond St Unit 112 Bridgeport, CT	1.0	1.0	545	$2,250	$4.13	43d	1	0.75mi
556 Hollister St Stratford, CT	1.0–2.0	1.0	725	$2,295	$3.17	11d	4	0.82mi
1150 Ogden Street Ext Unit 102 Bridgeport, CT	1.0	1.0	700	$1,425	$2.04	14d	1	0.93mi
1525 Central Ave Bridgeport, CT	1.0	1.0	625	$1,550	$2.48	43d	3	1.06mi
231 Goddard Ave Unit 3RD Bridgeport, CT	2.0	1.0	618	$1,700	$2.75	3d	1	1.19mi
145 Cowles St Unit B7 Bridgeport, CT	1.0	1.0	600	$1,325	$2.21	3d	1	1.27mi
1254 Pembroke St Unit 1st Floor Bridgeport, CT	2.0	1.0	738	$1,850	$2.51	14d	1	1.32mi
186 Louisiana Ave Unit D Bridgeport, CT	1.0	1.0	650	$1,700	$2.62	21d	1	1.32mi
498 Sherwood Pl Stratford, CT	3.0	1.0–2.0	984	$2,622	$2.66	21d	5	1.37mi
154 Virginia Ave Unit B Bridgeport, CT	1.0	1.0	650	$1,800	$2.77	43d	1	1.38mi
647 Union Ave Unit 2 Bridgeport, CT	2.0	1.0	750	$1,675	$2.23	3d	1	1.39mi
1111 Stratford Ave Stratford, CT	2.0	1.0–2.0	809	$2,750	$3.40	43d	7	1.42mi
3699 Broadbridge Ave #101 Stratford, CT	1.0	1.0	680	$1,700	$2.50	23d	1	1.45mi
3699 Broadbridge Ave #101 Stratford, CT	1.0	1.0	680	$1,700	$2.50	43d	1	1.45mi
1333 E Main St Apt 1 Bridgeport, CT	2.0	1.0	700	$1,700	$2.43	3d	1	1.46mi
1333 E Main St #5 Bridgeport, CT	2.0	1.0	700	$1,650	$2.36	3d	1	1.46mi

HOA detail condo

• Monthly dues: $756 · $9,072/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $56,000 Active 127 DOM
2. 2026-06-17
   days on market $56,000 Active 126 DOM
3. 2026-06-16
   days on market $56,000 Active 125 DOM
4. 2026-06-15
   days on market $56,000 Active 124 DOM
5. 2026-06-13
   days on market $56,000 Active 122 DOM
6. 2026-06-13
   days on market $56,000 Active 121 DOM
7. 2026-06-10
   days on market $56,000 Active 119 DOM
8. 2026-06-09
   days on market $56,000 Active 118 DOM
9. 2026-06-08
   days on market $56,000 Active 117 DOM
10. 2026-06-07
    days on market $56,000 Active 116 DOM
11. 2026-06-03
    days on market $56,000 Active 112 DOM
12. 2026-06-03
    days on market $56,000 Active 111 DOM
13. 2026-06-01
    days on market $56,000 Active 110 DOM
14. 2026-05-31
    days on market $56,000 Active 109 DOM
15. 2026-02-09
    listed $56,000 Active 193-char remark

    Show marketing remark (193 chars)

    Ideal opportunity, move in condition 2 bedroom coop! Heat, hot water, taxes are included in the common charges. Cash only, minimum approximate credit score 650, and $4,000.00 per month income.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,341
• − Mortgage interest: −$3,137
• − Property taxes: −$840
• − Insurance: −$280
• − Repairs & maintenance: −$1,627
• − Management: −$1,627
• − HOA: −$9,072
• − Depreciation: −$1,629
• Taxable income: $2,129
• Est. tax owed @ 24.0%: −$511
• After-tax cash flow: $1,843/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab

The property is in fair condition with moderate repairs and maintenance needed. Upgrading the interior and exterior, replacing worn flooring, and updating appliances and furniture can significantly increase its value.

Repairs flagged

• Major Exterior paint — Paint appears faded and needs repainting.
• Major Interior paint — Paint appears faded and needs repainting.
• Major Flooring — Carpeted floors appear worn and need replacement or cleaning.
• Major Kitchen appliances — Appliances appear used and may need replacement.
• Major Living room furniture — Furniture appears outdated and may need replacement or updating.
• Major Landscaping — No visible landscaping or curb appeal features, needs improvement.

Value-add opportunities

• Both Painting and updating interior and exterior — Fresh paint and updated decor can significantly improve the home's appearance and appeal.
• Both Replacing worn flooring — New flooring can enhance the home's value and make it more appealing to potential buyers or renters.
• Both Upgrading kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers or renters.
• Both Updating living room furniture — Fresh, modern furniture can make the living room more inviting and appealing to potential buyers or renters.
• Both Landscaping and curb appeal improvements — A well-maintained and landscaped exterior can significantly enhance the home's curb appeal and value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior paint · Paint appears faded and needs repainting.	Major	$15,000–50,000
Interior paint · Paint appears faded and needs repainting.	Major	$15,000–50,000
Flooring · Carpeted floors appear worn and need replacement or cleaning.	Major	$15,000–50,000
Kitchen appliances · Appliances appear used and may need replacement.	Major	$15,000–50,000
Living room furniture · Furniture appears outdated and may need replacement or updating.	Major	$15,000–50,000
Landscaping · No visible landscaping or curb appeal features, needs improvement.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Painting and updating interior and exterior — Fresh paint and updated decor can significantly improve the home's appearance and appeal. ↑
• Both Replacing worn flooring — New flooring can enhance the home's value and make it more appealing to potential buyers or renters. ↑
• Both Upgrading kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers or renters. ↑
• Both Updating living room furniture — Fresh, modern furniture can make the living room more inviting and appealing to potential buyers or renters. ↑
• Both Landscaping and curb appeal improvements — A well-maintained and landscaped exterior can significantly enhance the home's curb appeal and value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Stratford School District
• NCES district ID: 0904440
• Math proficiency: 22% ▼ -12.00%
• Reading proficiency: 38% ▼ -10.00%
• Median HH income: $67,912
• Composite: 27.85/100
• National rank: #6877
• State rank: #122 of 153 in CT

Livability — Stratford

• Score: 76/100
• State rank: #56
• US rank: #3523

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 17,136
• Population (ZIP): 35,538

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 17% Two or more races 8% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 2%
• Common ancestry: Romanian 8% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 11% · Canada, Jamaica, Dominican Republic
• Languages at home: 80% English-only · Spanish 11% Other Indo-European 3% French/Haitian/Cajun 2%

Political lean MEDSL · Greater Bridgeport

• 2024 margin: Strong D (+23.3) · D 60.9% · R 37.6% · Other 1.5%
• All cycles: 2024: D+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -343.74%
• Current HPI: 206.0128
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-02-09 Listed $56,000 Smart MLS