48 Olcott Way #48 · Ridgefield, CT 06877

$299,000

1 bd · 1.0 ba · 920 sqft · Condo · 65 Days on market

Built 1970 $325/sqft · 7% below area Est $322k · 7% under $377/mo HOA · 14% 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 +10.8/15.0
• Cash flow +8.0/30.0
• Schools +7.1/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your new home at Casagmo! This stunningly spacious upper unit offers peaceful outdoor space with pond & gazebo views. Meticulously updated throughout, featuring a renovated kitchen with white European cabinetry and Quartz countertops. Enjoy the bright foyer with vaulted ceiling, elegant great room, a sunny primary bedroom with ample closet space & a fabulous remodeled powder room. Lots of natural light adds to the ambience of this unit with serene views. Casagmo offers its residents a club house, in-ground pool and tennis, and basketball courts. Fitness room is available at the clubhouse for a small charge. Located in the heart of Downtown Ridgefield. Walk to the Prospector Movie Theater, the Ridgefield Playhouse, beautiful Ballard Park, the Ridgefield Library & a variety of restaurants, boutique shops, museum, parks, arts venues, including top-rated schools & more! Coin-Op Laundry in building 50-53 Olcott. A well-maintained condo complex with on-site property management staff. This turn-key condo is a must-see! There is reserved parking space across from unit #175 & numerous guest parking near the unit. 10 minutes' drive to the Branchville Metro North for easy commutes to Stamford & NYC. An exceptional opportunity to own a pondview home in one of Ridgefield's most soughtafter neighborhoods.

Key facts

• $377 HOA
• Pool
• Built 1970

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $-299 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (14.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (9.2% below list).
• Recommended offer: $256k (14.5% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 2.5% in Ridgefield — 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 78/100 on livability (#38 in CT, #2,615 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, cost of living F.
• Ridgefield School District (suburban): math 69% / reading 79% proficiency, ranked #6 of 153 in CT (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Market conditions: 140 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $162k; list at $299k implies a 85% gain — meaningful room to come down on a strong offer.

Recommended offer $255,739 (14.5% 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. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — 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. Schools are A-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?
9. 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?
10. 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.
11. 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.
12. 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: 0.91% ✗
• Cap rate: 5.09%
• Cash-on-cash: -4.29%
• DSCR: 0.81
• GRM: 9.2

CMA / ARV

• ARV (median comp): $322,476
• List price: $299,000
• Delta: -7.28%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -23.4%
• Equity multiple: 0.20×
• Total profit: $-67,220
• Equity at exit: $44,582

10-year hold

• IRR: -17.9%
• Equity multiple: 0.02×
• Total profit: $-81,945
• Equity at exit: $25,852

Cash invested: $83,720 (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 06877

• Active inventory: 140
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,714 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$377
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $-299

Break-even live

Break-even rent $3,093

Max offer price $255,739

Occupancy floor —

Sensitivity live

Price	-10% $-92	-5% $-196	+0% $-299	+5% $-402	+10% $-506
Rent	-10% $-513	-5% $-406	+0% $-299	+5% $-192	+10% $-85
Rate	-1.0pp $-148	-0.5pp $-223	base $-299	+0.5pp $-376	+1.0pp $-455

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Olcott Way #47 Ridgefield, CT	1.0	1.0	920	$2,400	$2.61	44d	1	0.03mi
79 Danbury Rd Unit A9 Ridgefield, CT	1.0	1.0	720	$2,150	$2.99	15d	1	0.21mi
5 N Salem Rd Unit 203 Ridgefield, CT	1.0	1.0	760	$2,700	$3.55	3d	1	0.23mi
34 Bailey Ave Ridgefield, CT	2.0	2.0	1100	$3,960	$3.60	3d	4	0.44mi
426 Main St Unit G Ridgefield, CT	1.0	1.0	1045	$3,400	$3.25	24d	1	0.48mi

HOA detail condo

• Monthly dues: $377 · $4,524/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-13
   statusdays on market $299,000 Under Contract 65 DOM
2. 2026-06-13
   days on market $299,000 Under Contract - Continue to Show 64 DOM
3. 2026-06-10
   days on market $299,000 Under Contract - Continue to Show 62 DOM
4. 2026-06-09
   days on market $299,000 Under Contract - Continue to Show 61 DOM
5. 2026-06-08
   days on market $299,000 Under Contract - Continue to Show 60 DOM
6. 2026-06-07
   days on market $299,000 Under Contract - Continue to Show 59 DOM
7. 2026-06-05
   days on market $299,000 Under Contract - Continue to Show 56 DOM
8. 2026-06-03
   days on market $299,000 Under Contract - Continue to Show 55 DOM
9. 2026-06-03
   days on market $299,000 Under Contract - Continue to Show 54 DOM
10. 2026-06-01
    days on market $299,000 Under Contract - Continue to Show 53 DOM
11. 2026-05-31
    days on market $299,000 Under Contract - Continue to Show 52 DOM
12. 2026-05-19
    price $299,000 1347-char remark

    Show marketing remark (1347 chars)

    Welcome to your new home at Casagmo! This stunningly spacious upper unit offers peaceful outdoor space with pond & gazebo views. Meticulously updated throughout, featuring a renovated kitchen with white European cabinetry and Quartz countertops. Enjoy the bright foyer with vaulted ceiling, elegant great room, a sunny primary bedroom with ample closet space & a fabulous remodeled powder room. Lots of natural light adds to the ambience of this unit with serene views. Casagmo offers its residents a club house, in-ground pool and tennis, and basketball courts. Fitness room is available at the clubhouse for a small charge. Located in the heart of Downtown Ridgefield. Walk to the Prospector Movie Theater, the Ridgefield Playhouse, beautiful Ballard Park, the Ridgefield Library & a variety of restaurants, boutique shops, museum, parks, arts venues, including top-rated schools & more! Coin-Op Laundry in building 50-53 Olcott. A well-maintained condo complex with on-site property management staff. This turn-key condo is a must-see! There is reserved parking space across from unit #175 & numerous guest parking near the unit. 10 minutes' drive to the Branchville Metro North for easy commutes to Stamford & NYC. An exceptional opportunity to own a pondview home in one of Ridgefield's most soughtafter neighborhoods.

13. 2026-04-10
    listed $309,900 Active 1347-char remark

    Show marketing remark (1347 chars)

    Welcome to your new home at Casagmo! This stunningly spacious upper unit offers peaceful outdoor space with pond & gazebo views. Meticulously updated throughout, featuring a renovated kitchen with white European cabinetry and Quartz countertops. Enjoy the bright foyer with vaulted ceiling, elegant great room, a sunny primary bedroom with ample closet space & a fabulous remodeled powder room. Lots of natural light adds to the ambience of this unit with serene views. Casagmo offers its residents a club house, in-ground pool and tennis, and basketball courts. Fitness room is available at the clubhouse for a small charge. Located in the heart of Downtown Ridgefield. Walk to the Prospector Movie Theater, the Ridgefield Playhouse, beautiful Ballard Park, the Ridgefield Library & a variety of restaurants, boutique shops, museum, parks, arts venues, including top-rated schools & more! Coin-Op Laundry in building 50-53 Olcott. A well-maintained condo complex with on-site property management staff. This turn-key condo is a must-see! There is reserved parking space across from unit #175 & numerous guest parking near the unit. 10 minutes' drive to the Branchville Metro North for easy commutes to Stamford & NYC. An exceptional opportunity to own a pondview home in one of Ridgefield's most soughtafter neighborhoods.

14. 2026-04-02
    historical $309,900 1347-char remark

    Show marketing remark (1347 chars)

    Welcome to your new home at Casagmo! This stunningly spacious upper unit offers peaceful outdoor space with pond & gazebo views. Meticulously updated throughout, featuring a renovated kitchen with white European cabinetry and Quartz countertops. Enjoy the bright foyer with vaulted ceiling, elegant great room, a sunny primary bedroom with ample closet space & a fabulous remodeled powder room. Lots of natural light adds to the ambience of this unit with serene views. Casagmo offers its residents a club house, in-ground pool and tennis, and basketball courts. Fitness room is available at the clubhouse for a small charge. Located in the heart of Downtown Ridgefield. Walk to the Prospector Movie Theater, the Ridgefield Playhouse, beautiful Ballard Park, the Ridgefield Library & a variety of restaurants, boutique shops, museum, parks, arts venues, including top-rated schools & more! Coin-Op Laundry in building 50-53 Olcott. A well-maintained condo complex with on-site property management staff. This turn-key condo is a must-see! There is reserved parking space across from unit #175 & numerous guest parking near the unit. 10 minutes' drive to the Branchville Metro North for easy commutes to Stamford & NYC. An exceptional opportunity to own a pondview home in one of Ridgefield's most soughtafter neighborhoods.

15. 2024-03-10
    historical $2,000
16. 2024-03-01
    price $2,000
17. 2024-02-07
    listed $2,100
18. 2020-07-31
    soldstatus $162,000 Closed 491-char remark

    Show marketing remark (491 chars)

    This unit shows beautifully. It has pond views from living room, updated kitchen and bath. Complex is newly renovated with new siding and roof. Windows are approximately 4 years old and have been tinted for sun. Convenient location and well maintained. large white cabinets stay. Access to back yard from door in living room. Sunset over pond and view from living room. Walk to Main St. Two months common charges due at closing for capital improvement fund. Road assessment has been paid.

19. 2020-06-11
    historical Under Contract - Continue to Show 491-char remark

    Show marketing remark (491 chars)

    This unit shows beautifully. It has pond views from living room, updated kitchen and bath. Complex is newly renovated with new siding and roof. Windows are approximately 4 years old and have been tinted for sun. Convenient location and well maintained. large white cabinets stay. Access to back yard from door in living room. Sunset over pond and view from living room. Walk to Main St. Two months common charges due at closing for capital improvement fund. Road assessment has been paid.

20. 2020-06-08
    price $162,000 491-char remark

    Show marketing remark (491 chars)

    This unit shows beautifully. It has pond views from living room, updated kitchen and bath. Complex is newly renovated with new siding and roof. Windows are approximately 4 years old and have been tinted for sun. Convenient location and well maintained. large white cabinets stay. Access to back yard from door in living room. Sunset over pond and view from living room. Walk to Main St. Two months common charges due at closing for capital improvement fund. Road assessment has been paid.

21. 2020-01-29
    listed $165,000 Active 491-char remark

    Show marketing remark (491 chars)

    This unit shows beautifully. It has pond views from living room, updated kitchen and bath. Complex is newly renovated with new siding and roof. Windows are approximately 4 years old and have been tinted for sun. Convenient location and well maintained. large white cabinets stay. Access to back yard from door in living room. Sunset over pond and view from living room. Walk to Main St. Two months common charges due at closing for capital improvement fund. Road assessment has been paid.

22. 2009-05-25
    historical
23. 2009-02-27
    listed $197,500

ⓘ 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: $32,572
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,606
• − Management: −$2,606
• − HOA: −$4,524
• − Depreciation: −$8,698
• Taxable loss: −$8,590
• Est. tax savings @ 24.0%: +$2,062
• After-tax cash flow: $-1,526/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: Ridgefield School District
• NCES district ID: 0903810
• Math proficiency: 69% ▼ -9.00%
• Reading proficiency: 79% ▼ -6.00%
• Median HH income: $140,316
• Composite: 71.28/100
• National rank: #231
• State rank: #6 of 153 in CT

Livability — Ridgefield

• Score: 78/100
• State rank: #38
• US rank: #2615

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ridgefield, CT
• County: Fairfield County · 765,532 people
• City population: 25,110
• Metro: Bridgeport-Stamford-Norwalk, CT
• Population (ZIP): 25,110
• Household income: $179,219
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 365.0

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 7% Hispanic / Latino 6% Asian 4% Black 2%
• Hispanic origin (detail): Puerto Rican 1% Dominican 1%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 12% · Canada, South Korea, China
• Languages at home: 85% English-only · Other Indo-European 7% Spanish 3% Russian/Polish/Slavic 2%

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: ▼ -449.63%
• Current HPI: 234.8817
• Rent YoY: —
• 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

+51.4% since first listed

12 events — show timeline

• 2026-05-19 Price Changed $299,000 Smart MLS
• 2026-04-10 Listed $309,900 Smart MLS
• 2026-04-02 Coming Soon $309,900 Smart MLS
• 2024-03-10 Rental Removed $2,000 SMARTMLS
• 2024-03-01 Price Changed $2,000 SMARTMLS
• 2024-02-07 Listed for Rent $2,100 SMARTMLS
• 2020-07-31 Sold (MLS) $162,000 Smart MLS
• 2020-06-11 Contingent — Smart MLS
• 2020-06-08 Price Changed $162,000 Smart MLS
• 2020-01-29 Listed $165,000 Smart MLS
• 2009-05-25 Listing Removed — Smart MLS
• 2009-02-27 Listed $197,500 Smart MLS