700 Summer St Unit 7G · Stamford, CT 06901

$220,000

1 bd · 1.0 ba · 478 sqft · Condo public records · 12 Days on market

Built 1961 $460/sqft · 10% below area Est $245k · 10% under $350/mo HOA · 18% 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 +12.1/15.0
• Cash flow +7.5/30.0
• Appreciation +6.3/10.0
• 1% rule +4.0/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0

Listing remarks MLS

LOCATION, LOCATION, LOCATION!! Renovated sunny condo in very convenient location downtown. Hardwood floors in living room and bedroom. It was a studio and now has a wall to create a bedroom with a window. New kitchen with new appliances and stone floor. Newer bath and dressing area with 2 large closets. On 7th floor with balcony, so lots of great views. In the heart of downtown, walkable to restaurants, train, shopping and lots of activities. Laundry and new gym in basement. $25/month assessment until June 1 2017 for new gym.

Key facts

• $350 HOA
• Built 1961
• Listed 12 days

Property features AI

Finance

• Other: Pet restrictions (cats allowed)
• HOA & community: Monthly HOA fee; HOA includes grounds maintenance, heat, hot water, insurance and water; Professional off-site property management

Exterior

• Utilities: Public water connected; Public sewer connected; Electric service (standard)
• Home design: Condominium; Part of Summer Condominium complex; Single-level unit
• Construction: Brick construction
• Exterior features: Brick exterior; Balcony; City views; Beach rights

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot air heating (gas in street); Wall air-conditioning unit; Domestic hot water
• Interior features: Elevator; Unit on 7th floor
• Laundry & utility: Coin-operated common laundry on lower level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $-271 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (21.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (10.4% below list).
• Recommended offer: $172k (21.7% below list) — sets the bar for cash-flow.
• Cap rate 4.8% 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.
• Zoned schools: Davenport Ridge School (math 36% / reading 42%, grade F, #310 of 553 statewide, top 56%, 659 students, 41% FRL); Rippowam Middle School (math 20% / reading 37%, grade F, #146 of 175 statewide, top 84%, 725 students, 59% FRL); Westhill High School (math 33% / reading 50%, grade F, #102 of 194 statewide, top 53%, 2,265 students, 50% FRL).
• Market conditions: Rents flat; 24 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($2k loan paydown + $6k appreciation (2.6% local appreciation)).
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y 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 $160k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $172,173 (21.7% 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 1961 — 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 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?
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: 0.90% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.27%
• DSCR: 0.77
• GRM: 9.3

CMA / ARV

• ARV (median comp): $244,916
• List price: $220,000
• Delta: -10.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

2.56% appreciation · 0.37% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-679
• Equity at exit: $93,522

10-year hold

• IRR: 2.6%
• Equity multiple: 1.36×
• Total profit: $22,392
• Equity at exit: $140,062

Cash invested: $61,600 (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 06901

• Home prices YoY: 2.0%
• Rents YoY: 0.4%
• Active inventory: 24
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,970 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$232 /mo · $2,782/yr
• Insurance: −$92
• HOA: −$350
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $-271

Break-even live

Break-even rent $2,313

Max offer price $172,173

Occupancy floor —

Sensitivity live

Price	-10% $-146	-5% $-208	+0% $-271	+5% $-333	+10% $-395
Rent	-10% $-426	-5% $-349	+0% $-271	+5% $-193	+10% $-115
Rate	-1.0pp $-160	-0.5pp $-215	base $-271	+0.5pp $-328	+1.0pp $-386

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 Summer St Stamford, CT	—	1.0	345	$1,518	$4.40	45d	4	0.07mi
126 Woodside Grn Unit 3D Stamford, CT	—	1.0	368	$1,700	$4.62	21d	1	0.63mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-05-15
   listed $220,000 Active 673-char remark
2. 2026-05-12
   historical $220,000 673-char remark
3. 2017-03-31
   soldstatus $160,000 531-char remark

   Show marketing remark (531 chars)

   LOCATION, LOCATION, LOCATION!! Renovated sunny condo in very convenient location downtown. Hardwood floors in living room and bedroom. It was a studio and now has a wall to create a bedroom with a window. New kitchen with new appliances and stone floor. Newer bath and dressing area with 2 large closets. On 7th floor with balcony, so lots of great views. In the heart of downtown, walkable to restaurants, train, shopping and lots of activities. Laundry and new gym in basement. $25/month assessment until June 1 2017 for new gym.

4. 2017-03-20
   historical 531-char remark

   Show marketing remark (531 chars)

   LOCATION, LOCATION, LOCATION!! Renovated sunny condo in very convenient location downtown. Hardwood floors in living room and bedroom. It was a studio and now has a wall to create a bedroom with a window. New kitchen with new appliances and stone floor. Newer bath and dressing area with 2 large closets. On 7th floor with balcony, so lots of great views. In the heart of downtown, walkable to restaurants, train, shopping and lots of activities. Laundry and new gym in basement. $25/month assessment until June 1 2017 for new gym.

5. 2017-03-11
   listed $167,000 531-char remark

   Show marketing remark (531 chars)

   LOCATION, LOCATION, LOCATION!! Renovated sunny condo in very convenient location downtown. Hardwood floors in living room and bedroom. It was a studio and now has a wall to create a bedroom with a window. New kitchen with new appliances and stone floor. Newer bath and dressing area with 2 large closets. On 7th floor with balcony, so lots of great views. In the heart of downtown, walkable to restaurants, train, shopping and lots of activities. Laundry and new gym in basement. $25/month assessment until June 1 2017 for new gym.

6. 2011-02-17
   soldstatus $100,000

   Show marketing remark (221 chars)

   Bright Studio. 2 Lg Closets In Dress Area. New Bath Vanity. Newer App. New Paint And Carpet. Balcony Conv. Dntown Location. Public Trans, Cats Only .$25.34 Assmt Will End 10/11. Cc Incl Heat, Hot Water, Gas

7. 2010-10-04
   listed $109,000

   Show marketing remark (221 chars)

   Bright Studio. 2 Lg Closets In Dress Area. New Bath Vanity. Newer App. New Paint And Carpet. Balcony Conv. Dntown Location. Public Trans, Cats Only .$25.34 Assmt Will End 10/11. Cc Incl Heat, Hot Water, Gas

8. 2005-09-30
   soldstatus $120,000
9. 1994-10-28
   soldstatus $30,000
10. 1992-12-04
    soldstatus $1,110,000

ⓘ 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: $2,782 · $232/mo
• Projected year-2 tax: $3,745 · $312/mo
• Expected delta: +$963/yr (+$80/mo · 34.6%)

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

Taxation est. · year 1

• Rental income: $23,643
• − Mortgage interest: −$12,323
• − Property taxes: −$2,782
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − HOA: −$4,200
• − Depreciation: −$6,400
• Taxable loss: −$6,946
• Est. tax savings @ 24.0%: +$1,667
• After-tax cash flow: $-1,582/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): 11,037
• Household income: $102,641
• Rent vs Own: 87.0% rent · 13.0% own
• Severe rent burden: 1139.0

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: White 41% Black 23% Hispanic / Latino 18% Asian 15% Two or more races 7% Native American 2%
• Hispanic origin (detail): Puerto Rican 7% Dominican 1%
• Common ancestry: Hispanic 6% Romanian 3% Lithuanian 2%
• Foreign-born: 30% · Canada, China, South Korea
• Languages at home: 64% English-only · Spanish 13% French/Haitian/Cajun 6% Other Indo-European 5%

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: ▲ 2.56%
• Current HPI: 132.891
• Rent YoY: ▲ 0.37%
• 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

-80.2% since first listed

12 events — show timeline

• 2026-05-27 Pending — Smart MLS
• 2026-05-22 Contingent — Smart MLS
• 2026-05-15 Listed $220,000 Smart MLS
• 2026-05-12 Coming Soon $220,000 Smart MLS
• 2017-03-31 Sold (MLS) $160,000 Smart MLS
• 2017-03-20 Listing Removed — Smart MLS
• 2017-03-11 Listed $167,000 Smart MLS
• 2011-02-17 Sold (MLS) $100,000 Smart MLS
• 2010-10-04 Listed $109,000 Smart MLS
• 2005-09-30 Sold (Public Records) $120,000 Public Records
• 1994-10-28 Sold (Public Records) $30,000 Public Records
• 1992-12-04 Sold (Public Records) $1,110,000 Public Records

Property tax history

+5.9%/yr

Latest (2022): $2,782 · +0.8% YoY. Source: county tax records.