7 Davis St #2 · Danbury, CT 06810

$279,900

4 bd · 1.0 ba · 1,310 sqft · Condo public records · 43 Days on market

Built 1978 $203/mo HOA · 6% of rent

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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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +6.5/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

" THIS PROPERTY IS BEING SOLD AS IS". This is an opportunity to use your imagination and creativity to renovate this four bedroom one bath condominium unit. The unit is a self managed condominium complex consisting of three separate condos. Renovations are mostly cosmetic and investors or home buyers are welcome to remodel for resale or living purposes. Included is a separate basement area which can be used for storage purposes and laundry with hook-ups. The location is near I-84 for commuting, restaurants, shopping and recreation areas, Bring your ideas and take advantage of this investment or home buying opportunity in a busy Real Estate Spring Market.

Key facts

• Near i-84
• Shopping
• Laundry hook-ups

Tags

• SELF MANAGED CONDOMINIUM
• SEPARATE BASEMENT AREA
• LAUNDRY HOOK-UPS
• NEAR I-84
• RESTAURANTS
• SHOPPING

Property features AI

Finance

• Other: Pets allowed with restrictions (inquire for details)
• HOA & community: Monthly HOA fee of $203; HOA covers grounds maintenance, trash pickup, snow removal, water, sewer, and property management; Has homeowners association

Exterior

• Parking: Parking available in rear
• Utilities: Public water connected; Public sewer connected
• Home design: Condominium (unit in a 3-unit complex); End unit; Located on the 2nd floor
• Construction: Frame construction
• Exterior features: Vinyl siding; Lightly wooded, level lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator
• Bedrooms: 4 bedrooms (unit spans 2 levels)
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil-fired baseboard heating; Fuel tank located in basement
• Interior features: 6 total rooms; Partial, unfinished basement with concrete floor and storage; Walk-up attic
• Laundry & utility: 30-gallon hot water tank located in basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath condo listed at $280k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $272k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $3,220/mo this rent would consume 50% 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 29y 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.

Risks & watch-outs

• 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 $271,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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 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?
7. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.94%
• DSCR: 1.31
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-16,078
• Equity at exit: $41,734

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $24,833
• Equity at exit: $24,201

Cash invested: $78,372 (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: 7.2×

Monthly cashflow live

• Estimated rent: $3,220 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$303 /mo · $3,639/yr
• Insurance: −$117
• HOA: −$203
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $453

Break-even live

Break-even rent $2,646

Max offer price $279,900

Occupancy floor 81%

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Clapboard Ridge Rd Danbury, CT	1.0–3.0	1.0–2.0	1061	$3,308	$3.12	2d	20	0.42mi
8 Rose St Unit 26-14 Danbury, CT	3.0	1.5	1370	$3,000	$2.19	3d	1	0.58mi
6 Barnum Ct #6 Danbury, CT	3.0	2.5	1620	$3,200	$1.98	14d	1	0.64mi
10 Balmforth Ave Unit 11 Danbury, CT	3.0	2.0	980	$2,700	$2.76	43d	1	0.88mi
9 Concord St Unit 3 Danbury, CT	3.0	1.0	1160	$2,600	$2.24	43d	1	1.12mi
113 Park Ave Unit 7 Danbury, CT	3.0	1.5	1205	$3,000	$2.49	23d	1	1.20mi
25 Padanaram Rd #14 Danbury, CT	3.0	2.5	1335	$3,000	$2.25	43d	1	1.25mi
68 Grand St Danbury, CT	3.0	1.0	1480	$1,900	$1.28	3d	1	1.26mi

HOA detail condo

• Monthly dues: $203 · $2,436/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-04-27
   historical Under Contract - Continue to Show
2. 2026-04-16
   listed $279,900 Active
3. 1998-11-30
   historical
4. 1998-08-27
   listed $79,900
5. 1998-04-30
   historical
6. 1997-10-22
   listed $69,900

ⓘ 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: $3,639 · $303/mo
• Projected year-2 tax: $4,814 · $401/mo
• Expected delta: +$1,175/yr (+$98/mo · 32.3%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,644
• − Mortgage interest: −$15,679
• − Property taxes: −$3,639
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,091
• − Management: −$3,091
• − HOA: −$2,436
• − Depreciation: −$8,143
• Taxable income: $1,165
• Est. tax owed @ 24.0%: −$280
• After-tax cash flow: $5,161/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

+300.4% since first listed

6 events — show timeline

• 2026-04-27 Contingent — Smart MLS
• 2026-04-16 Listed $279,900 Smart MLS
• 1998-11-30 Listing Removed — Smart MLS
• 1998-08-27 Listed $79,900 Smart MLS
• 1998-04-30 Listing Removed — Smart MLS
• 1997-10-22 Listed $69,900 Smart MLS

Property tax history

+1.6%/yr

Latest (2023): $3,639 · +16.2% YoY. Source: county tax records.