80 County St Unit 12D · Norwalk, CT 06851

$389,000

2 bd · 1.5 ba · 1,058 sqft · Condo public records · 6 Days on market

Built 1965 $614/mo HOA · 15% 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).

• Cash flow +14.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Norwest Condominiums offering a convenient location, lovely grounds with courtyard settings, inground pool and a short distance to shopping, restaurants, schools and major highways. End unit townhouse condominium. One of the best values in Norwalk for location and square footage. Sun filled living room/dining area with sliding glass door leading to secluded patio. Hardwood flooring in living room/dining area and two bedrooms. Heat and hot water are included in the common charges so there's no worry about an unexpected expense of replacing the HVAC system. Big plus, generators have been installed by the association. Loads of storage space in unit plus additional designated storage in basement. Washer/dryer inside condo. Reserved parking. Newly remodeled clubhouse ideal for getting to know fellow Norwest residents. Well managed, financially stable condominium association.

Key facts

• $614 HOA
• 2 parking spots
• Pool

Property features AI

Finance

• Financial info: Professional off-site property management; Pets allowed (typically 1 dog or 2 cats — confirm)
• HOA & community: Monthly HOA with common-area services; HOA covers grounds maintenance, snow removal, heat, hot water, water, property management, and pool service; HOA fee: monthly

Exterior

• Parking: Assigned parking; 2 parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas
• Home design: Condominium (Condo/Co-Op for sale); Located in a complex named Nor-West
• Construction: Brick construction
• Exterior features: Brick exterior; In-ground swimming pool; End unit in the complex

Interior

• Kitchen: Gas cooktop; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Baseboard heating (natural gas); Wall unit cooling; Domestic hot water
• Interior features: Open floor plan; Two-level unit
• Laundry & utility: Washer and dryer on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $389k.

Deal economics

• At list price, monthly cash flow is $79 ($954/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $389k).
• Cap rate 6.5% 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.
• Zoned schools: Naramake Elementary School (math 37% / reading 47%, grade F, #285 of 553 statewide, top 53%, 365 students, 50% FRL); P-Tech Norwalk (math 32% / reading 62%, grade D-, #92 of 194 statewide, top 47%, 408 students, 50% FRL).
• Market conditions: Rents rising (+2.1%/yr); 91 active listings in the ZIP; 40 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 44% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 19y 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 $226k; list at $389k implies a 72% gain — meaningful room to come down on a strong offer.

Recommended offer $389,000

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.05% ✓
• Cap rate: 6.54%
• Cash-on-cash: 0.88%
• DSCR: 1.04
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.0%
• Equity multiple: 0.44×
• Total profit: $-61,250
• Equity at exit: $58,001

10-year hold

• IRR: -9.3%
• Equity multiple: 0.45×
• Total profit: $-60,017
• Equity at exit: $33,634

Cash invested: $108,920 (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 06851

• Rents YoY: 2.1%
• Active inventory: 91
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $4,074 high
• Mortgage (P&I): −$2,040
• Tax from tax record: −$323 /mo · $3,876/yr
• Insurance: −$162
• HOA: −$614
• Vacancy / Maint / Mgmt: −$856
• Net cashflow: $79

Break-even live

Break-even rent $3,973

Max offer price $389,000

Occupancy floor 93%

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Willard Rd Norwalk, CT	1.0–2.0	1.0–2.0	1048	$4,326	$4.13	3d	37	0.24mi
291 Strawberry Hill Ave Norwalk, CT	1.0	1.0	1000	$2,400	$2.40	14d	1	0.26mi
33 Strathmore Ln #33 Westport, CT	2.0	2.5	1440	$4,100	$2.85	14d	1	0.31mi
42 County St Norwalk, CT	2.0	2.0	910	$3,680	$4.04	21d	1	0.32mi
42 County St Norwalk, CT	2.0	2.0	910	$3,680	$4.04	44d	1	0.32mi
41 Wolfpit Ave Norwalk, CT	2.0	1.0	1100	$2,650	$2.41	10d	2	0.40mi
193 Westport Ave Unit 3 Norwalk, CT	1.0	1.0	800	$1,950	$2.44	12d	1	0.65mi
60 Walter Ave Norwalk, CT	3.0	1.5	1320	$4,000	$3.03	44d	1	0.66mi
2 Margaret St Norwalk, CT	2.0	1.0	1351	$4,000	$2.96	3d	1	0.70mi
8 Norden Pl Norwalk, CT	1.0–2.0	1.0–2.0	1010	$3,786	$3.75	2d	11	0.81mi
10 Norden Pl Unit 245 Norwalk, CT	2.0	2.0	1085	$2,699	$2.49	44d	1	1.01mi
10 Norden Pl Unit 207 Norwalk, CT	2.0	2.0	1085	$2,625	$2.42	23d	1	1.03mi
33 Macintosh Rd Norwalk, CT	3.0	1.0	1044	$3,500	$3.35	3d	1	1.03mi
253 Riverside Ave Unit 202 Westport, CT	2.0	3.0	1200	$11,500	$9.58	23d	1	1.08mi
253 Riverside Ave Unit 101 Westport, CT	2.0	3.0	1300	$10,500	$8.08	23d	1	1.08mi
251 Riverside Ave Unit 251A Westport, CT	2.0	2.5	1420	$12,000	$8.45	23d	1	1.09mi
10 Norden Pl Unit 242 Norwalk, CT	1.0	1.0	800	$2,033	$2.54	23d	1	1.17mi
10 Norden Pl Unit 258 Norwalk, CT	1.0	1.0	800	$2,159	$2.70	44d	1	1.17mi
10 Norden Pl Unit 307 Norwalk, CT	2.0	2.0	1085	$2,650	$2.44	3d	1	1.17mi
10 Norden Pl Unit 288 Norwalk, CT	2.0	2.0	1085	$2,637	$2.43	14d	1	1.17mi
4 River View Rd Westport, CT	3.0	2.0	1258	$7,200	$5.72	44d	1	1.17mi
99 East Ave Rm 600 Norwalk, CT	1.0	1.0	750	$5,500	$7.33	44d	1	1.21mi
9 Park St Unit 2R Norwalk, CT	1.0	1.0	768	$2,100	$2.73	23d	1	1.23mi
93 East Ave Norwalk, CT	1.0	1.0	760	$6,500	$8.55	44d	1	1.25mi
7 W Rocks Rd Norwalk, CT	2.0	2.0	1274	$4,000	$3.14	3d	1	1.28mi
303 Newtown Ave Norwalk, CT	3.0	1.0	1400	$2,800	$2.00	44d	1	1.30mi
1 Smith St Norwalk, CT	2.0	2.0	1107	$3,350	$3.03	44d	1	1.36mi
85 Post Rd W Westport, CT	1.0–3.0	1.0–2.0	1180	$7,258	$6.15	2d	31	1.39mi
85 Post Rd W Westport, CT	1.0–3.0	1.0–2.0	1180	$7,108	$6.02	44d	24	1.39mi
85 Post Rd W Unit 302 Westport, CT	2.0	2.0	1466	$8,789	$6.00	14d	1	1.39mi
85 Post Rd W Unit 510 Westport, CT	3.0	2.0	1432	$9,169	$6.40	23d	1	1.39mi
85 Post Rd W Unit 402 Westport, CT	2.0	2.0	1466	$9,089	$6.20	23d	1	1.39mi
85 Post Rd W Unit 507 Westport, CT	3.0	2.0	1412	$8,997	$6.37	23d	1	1.39mi
85 Post Rd W Unit 311 Westport, CT	2.0	2.0	1255	$6,997	$5.58	23d	1	1.39mi
85 Post Rd W Unit 502 Westport, CT	3.0	2.0	1466	$9,189	$6.27	3d	1	1.39mi
85 Post Rd W Unit 512 Westport, CT	3.0	2.0	1311	$9,037	$6.89	23d	1	1.39mi
85 Post Rd W Unit 514 Westport, CT	2.0	2.0	1343	$8,897	$6.62	23d	1	1.39mi
85 Post Rd W Unit 307 Westport, CT	3.0	2.0	1412	$8,597	$6.09	23d	1	1.39mi
85 Post Rd W Unit 515 Westport, CT	1.0	1.0	962	$6,201	$6.45	23d	1	1.39mi
85 Post Rd W Unit 313 Westport, CT	1.0	1.0	961	$5,801	$6.04	23d	1	1.39mi

HOA detail condo

• Monthly dues: $614 · $7,368/yr
• Likely covers: waterlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $389,000 Active 6 DOM
2. 2026-06-17
   days on market $389,000 Active 5 DOM
3. 2026-06-16
   days on market $389,000 Active 4 DOM
4. 2026-06-15
   days on market $389,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $389,000 Active 1 DOM

ⓘ 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: $3,876 · $323/mo
• Projected year-2 tax: $6,100 · $508/mo
• Expected delta: +$2,224/yr (+$185/mo · 57.4%)

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

Taxation est. · year 1

• Rental income: $48,889
• − Mortgage interest: −$21,790
• − Property taxes: −$3,876
• − Insurance: −$1,945
• − Repairs & maintenance: −$3,911
• − Management: −$3,911
• − HOA: −$7,368
• − Depreciation: −$11,316
• Taxable loss: −$5,229
• Est. tax savings @ 24.0%: +$1,255
• After-tax cash flow: $2,209/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

+143.1% since first listed

17 events — show timeline

• 2026-06-11 Listed $389,000 Smart MLS
• 2020-05-05 Sold (Public Records) $226,000 Public Records
• 2020-05-01 Sold (MLS) $226,000 Smart MLS
• 2020-04-02 Contingent — Smart MLS
• 2020-03-16 Price Changed $235,000 Smart MLS
• 2020-02-23 Listed $250,000 Smart MLS
• 2013-07-09 Sold (Public Records) $185,000 Public Records
• 2013-07-05 Sold (MLS) $185,000 Smart MLS
• 2013-01-28 Listed $187,500 Smart MLS
• 2013-01-14 Listing Removed — Smart MLS
• 2011-11-22 Listed $199,000 Smart MLS
• 2008-07-15 Sold (Public Records) $258,500 Public Records
• 2008-07-15 Sold (MLS) $258,500 Smart MLS
• 2008-04-14 Listed $272,500 Smart MLS
• 2008-01-20 Listing Removed — Smart MLS
• 2007-07-26 Listed $293,000 Smart MLS
• 1987-08-25 Sold (Public Records) $160,000 Public Records

Property tax history

+2.0%/yr

Latest (2023): $3,876 · +1.6% YoY. Source: county tax records.