34 Grand St · Danbury, CT 06810

$799,900

4 bd · 3.0 ba · 2,658 sqft · MultiFamily public records · 6 Days on market

Built 1894 0.50 ac lot Est $715k · 12% over

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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 +14.3/30.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +2.2/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Historic Danbury Three-Family Home - Family Owned for 78 Years A rare opportunity to own a truly historic piece of Danbury history. Built in 1894, this is believed to be the only home constructed in Danbury during that year - a property filled with character, longevity, and pride of ownership. This well-maintained three-family home has remained in the same family for nearly eight decades and features dependable long-term tenants, making it an excellent investment opportunity or owner-occupied property. The current property manager has successfully managed the home for the past 23 years and is available to continue for a seamless transition. The spacious upper apartment offers: 3 bedrooms Li

Key facts

• Private driveway
• Newer roof
• Vinyl siding

Tags

• NEW CONCRETE BASEMENT FLOOR
• NEWLY RENOVATED KITCHEN
• VINYL SIDING
• NEWER ROOF
• PRIVATE DRIVEWAY

Property features AI

Exterior

• Parking: Off-street parking for about 5 vehicles; Paved driveway
• Utilities: Public water; Public sewer; Natural gas hot water; Natural gas heating; Sewer and water annual usage fee applies
• Home design: 3-family multi-family property; Frame construction; Brown exterior color
• Construction: Frame construction; Concrete and stone foundation; Asphalt shingle roof
• Exterior features: Sloping lot; Vinyl siding; Paved driveway; Driveway and off-street paved parking

Interior

• Bedrooms: 6 total bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air heating (natural gas); Window air conditioning units
• Interior features: Full basement; Walk-up attic; 13 total rooms; 3 separate units (multi-family)
• Laundry & utility: Basement laundry with hookups for all units; Each unit has washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $800k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive. Per door: $47/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $680k (15.1% below list).
• Recommended offer: $680k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: South Street School (math 22% / reading 32%, grade F, #401 of 553 statewide, top 74%, 386 students, 47% FRL); 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; 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).
• At $6,795/mo this rent would consume 106% 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 $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% 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 $679,500 (15.1% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1894 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.85% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.75%
• DSCR: 1.03
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $715,002
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3 & 5 Prospect St	0.52mi	5/4.0 (+1)	3,041 (+14%)	13mo	$790,000	$260	32
12 Harding Pl	0.69mi	4/2.0	2,288 (-14%)	18mo	$615,000	$269	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -15.0%
• Equity multiple: 0.46×
• Total profit: $-120,189
• Equity at exit: $119,268

10-year hold

• IRR: -6.3%
• Equity multiple: 0.59×
• Total profit: $-91,200
• Equity at exit: $69,161

Cash invested: $223,972 (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: 29.4×

Monthly cashflow live

• Estimated rent: $6,795 high
• Mortgage (P&I): −$4,195
• Tax from tax record: −$699 /mo · $8,391/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,427
• Net cashflow: $141

Break-even live

Break-even rent $6,617

Max offer price $799,900

Occupancy floor 93%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,795
Total (3 units)			$6,795

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: $199,975
• Closing costs: $23,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Jefferson Ave Danbury, CT	5.0	2.5	2186	$5,900	$2.70	43d	1	0.63mi
10 Fleetwood Dr Danbury, CT	4.0	2.0	1757	$3,500	$1.99	2d	1	1.45mi

Listing history 4 events

1. 2026-06-02
   status $799,900 Under Contract 6 DOM
2. 2026-06-01
   days on market $799,900 Active 6 DOM
3. 2026-05-31
   days on market $799,900 Active 5 DOM
4. 2026-05-26
   listed $799,900 Active

ⓘ 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: $8,391 · $699/mo
• Projected year-2 tax: $12,754 · $1,063/mo
• Expected delta: +$4,363/yr (+$364/mo · 52.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $81,540
• − Mortgage interest: −$44,807
• − Property taxes: −$8,391
• − Insurance: −$4,000
• − Repairs & maintenance: −$6,523
• − Management: −$6,523
• − Depreciation: −$23,270
• Taxable loss: −$11,974
• Est. tax savings @ 24.0%: +$2,874
• After-tax cash flow: $4,563/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

1 event — show timeline

• 2026-05-26 Listed $799,900 Smart MLS

Property tax history

+7.4%/yr

Latest (2023): $8,391 · +37.0% YoY. Source: county tax records.