15 River Rd #205 · Cos Cob, CT 06807

$914,000

2 bd · 2.0 ba · 1,270 sqft · Condo public records · 47 Days on market

Built 1979 $720/sqft · at area comps Est $893k · at est. $809/mo HOA · 12% 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).

• Appreciation +9.0/10.0
• Cash flow +7.0/30.0
• Schools +6.6/10.0
• ARV discount +6.4/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.2/10.0

Listing remarks MLS

DIRECT WATERFRONT condo in the heart of Cos Cob Harbor. Experience serene riverfront living just minutes from trains, shops, restaurants, parks and more. This beautifully renovated two-bedroom, two-bath condo offers an open-concept main level featuring a kitchen, dining area and living room with a cozy fireplace. Sliding doors with direct access to a private balcony, providing tranquil views of the river. Upstairs the primary suite includes a full bath and a second balcony, perfect for morning coffee overlooking the water. Another bedroom and full bath complete the upper level. White oak floors flow throughout, enhancing the home's bright, modern aesthetic. This exceptional waterfront condo combines comfort, style and convenience in a coveted location. Highlights Include: Dual balconies with direct water views, Pull-down attic for extra storage, Dedicated storage room One garage space plus one unassigned outdoor parking space. HOA of $809.12 per month, cover heat, a/c, water, snow removal, and trash pickup.

Key facts

• $809 HOA
• Garage
• Built 1979

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $914k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $678k (25.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $648k (29.1% below list).
• Recommended offer: $648k (29.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#72 in CT) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety B; Watch: housing D+, amenities F, commute F.
• Greenwich School District (suburban): math 64% / reading 73% proficiency, ranked #12 of 153 in CT (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Cos Cob School (math 62% / reading 67%, grade B, #118 of 553 statewide, top 23%, 337 students, 13% FRL); Central Middle School (math 60% / reading 71%, grade A-, #26 of 175 statewide, top 16%, 506 students, 18% FRL); Greenwich High School (math 59% / reading 78%, grade B, #23 of 194 statewide, top 12%, 2,668 students, 20% FRL).
• Market conditions: 31 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,151 units permitted in Western Connecticut Planning Region in 2024 (714 in 5+ unit buildings).

Forward outlook

• In year one you build about $79k of equity ($6k loan paydown + $72k appreciation (7.9% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$126k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($887k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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.

Recommended offer $648,359 (29.1% 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 47 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.71% ✗
• Cap rate: 4.54%
• Cash-on-cash: -6.28%
• DSCR: 0.72
• GRM: 11.7

CMA / ARV

• ARV (median comp): $892,549
• List price: $914,000
• Delta: 2.40%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

7.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 2.12×
• Total profit: $285,872
• Equity at exit: $688,442

10-year hold

• IRR: 14.8%
• Equity multiple: 4.49×
• Total profit: $892,944
• Equity at exit: $1,360,916

Cash invested: $255,920 (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 06807

• Home prices YoY: 4.3%
• Active inventory: 31
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $6,484 high
• Mortgage (P&I): −$4,793
• Tax from tax record: −$477 /mo · $5,729/yr
• Insurance: −$381
• HOA: −$809
• Vacancy / Maint / Mgmt: −$1,362
• Net cashflow: $-1,338

Break-even live

Break-even rent $8,178

Max offer price $677,578

Occupancy floor —

Sensitivity live

Price	-10% $-821	-5% $-1,080	+0% $-1,338	+5% $-1,597	+10% $-1,856
Rent	-10% $-1,851	-5% $-1,594	+0% $-1,338	+5% $-1,082	+10% $-826
Rate	-1.0pp $-878	-0.5pp $-1,106	base $-1,338	+0.5pp $-1,575	+1.0pp $-1,816

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: $228,500
• Closing costs: $27,420
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 River Rd Unit 3 Cos Cob, CT	3.0	1.0	1500	$3,150	$2.10	46d	1	0.08mi
100 E Putnam Ave Unit 301 Cos Cob, CT	2.0	2.0	1198	$9,175	$7.66	21d	1	0.37mi
100 E Putnam Ave Unit 301 Cos Cob, CT	2.0	2.0	1198	$9,175	$7.66	16d	1	0.37mi
84 E Putnam Ave Greenwich, CT	2.0	2.0	1130	$7,500	$6.64	16d	1	0.39mi
10 Miltiades Ave Riverside, CT	3.0	2.0	1477	$7,600	$5.15	16d	1	0.41mi
14 Cos Cob Ave Unit 2 Cos Cob, CT	2.0	1.0	1100	$2,900	$2.64	26d	1	0.57mi
32 Cos Cob Ave Unit B Cos Cob, CT	2.0	2.0	1040	$4,950	$4.76	5d	1	0.66mi
32 Cos Cob Ave Unit A Cos Cob, CT	2.0	1.0	1000	$4,450	$4.45	5d	1	0.66mi
18 Cary Rd Riverside, CT	3.0	2.0	1440	$6,950	$4.83	5d	1	0.77mi
21 Wampus Ln Unit 1 Riverside, CT	2.0	1.0	1000	$3,000	$3.00	16d	1	0.79mi
45 Thornhill Rd Riverside, CT	3.0	2.0	1386	$6,500	$4.69	26d	1	0.81mi
36 Decatur St Unit 1 Cos Cob, CT	2.0	1.5	972	$4,200	$4.32	5d	1	0.84mi
81 Cos Cob Ave Unit A Cos Cob, CT	3.0	2.0	1461	$5,900	$4.04	5d	1	0.92mi
1191 E Putnam Ave Unit 3 Riverside, CT	2.0	2.0	1044	$3,900	$3.74	46d	1	0.98mi
45 N Sound Beach Ave Riverside, CT	3.0	2.0	1344	$9,500	$7.07	26d	1	1.19mi
15 Dandy Dr Cos Cob, CT	3.0	2.0	1762	$6,500	$3.69	23d	1	1.21mi
300 Bruce Park Ave Unit A Greenwich, CT	2.0	2.0	1400	$4,500	$3.21	12d	1	1.30mi
300 Bruce Park Ave Unit B Greenwich, CT	2.0	2.0	1400	$4,500	$3.21	16d	1	1.30mi
30 Mary Ln Riverside, CT	3.0	1.5	1255	$6,200	$4.94	16d	1	1.38mi
143 Sound Beach Ave Old Greenwich, CT	1.0–3.0	1.0–3.0	1269	$8,490	$6.69	0d	1	1.40mi
25 Center Dr Old Greenwich, CT	3.0	2.0	1616	$8,950	$5.54	23d	1	1.41mi
193 Sound Beach Ave Unit 2N Old Greenwich, CT	1.0	1.0	1000	$3,950	$3.95	26d	1	1.45mi
16 Lexington Ave Unit 3 Greenwich, CT	1.0	1.0	1000	$3,200	$3.20	46d	1	1.46mi

HOA detail condo

• Monthly dues: $809 · $9,708/yr
• Likely covers: watertrashsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-05-04
   price $914,000 1025-char remark

   Show marketing remark (1003 chars)

   DIRECT WATERFRONT condo in the heart of Cos Cob Harbor. Experience serene riverfront living just minutes from trains, shops, restaurants, parks and more. This beautifully renovated 2-bed, 2-bath condo offers an open-concept main level featuring kitchen, dining area and living room with cozy fireplace. Sliding doors with direct access to a private balcony, providing tranquil views of the river. Upstairs the primary suite includes a full bath and second balcony, perfect for morning coffee overlooking the water. Another bedroom and full bath complete the upper level. White oak floors flow throughout, enhancing the home's bright, modern aesthetic. This exceptional waterfront condo combines comfort, style and convenience in a coveted location. Highlights Include: Dual balconies with direct water views Pull-down attic for extra storage Dedicated storage room One garage space plus one unassigned outdoor parking space. HOA of $809.12 per month, cover heat, water, snow removal, and trash pickup.

2. 2026-05-04
   price $914,000 1003-char remark

   Show marketing remark (1003 chars)

   DIRECT WATERFRONT condo in the heart of Cos Cob Harbor. Experience serene riverfront living just minutes from trains, shops, restaurants, parks and more. This beautifully renovated 2-bed, 2-bath condo offers an open-concept main level featuring kitchen, dining area and living room with cozy fireplace. Sliding doors with direct access to a private balcony, providing tranquil views of the river. Upstairs the primary suite includes a full bath and second balcony, perfect for morning coffee overlooking the water. Another bedroom and full bath complete the upper level. White oak floors flow throughout, enhancing the home's bright, modern aesthetic. This exceptional waterfront condo combines comfort, style and convenience in a coveted location. Highlights Include: Dual balconies with direct water views Pull-down attic for extra storage Dedicated storage room One garage space plus one unassigned outdoor parking space. HOA of $809.12 per month, cover heat, water, snow removal, and trash pickup.

3. 2026-04-10
   listed $935,000 Active 1025-char remark

   Show marketing remark (1003 chars)

   DIRECT WATERFRONT condo in the heart of Cos Cob Harbor. Experience serene riverfront living just minutes from trains, shops, restaurants, parks and more. This beautifully renovated 2-bed, 2-bath condo offers an open-concept main level featuring kitchen, dining area and living room with cozy fireplace. Sliding doors with direct access to a private balcony, providing tranquil views of the river. Upstairs the primary suite includes a full bath and second balcony, perfect for morning coffee overlooking the water. Another bedroom and full bath complete the upper level. White oak floors flow throughout, enhancing the home's bright, modern aesthetic. This exceptional waterfront condo combines comfort, style and convenience in a coveted location. Highlights Include: Dual balconies with direct water views Pull-down attic for extra storage Dedicated storage room One garage space plus one unassigned outdoor parking space. HOA of $809.12 per month, cover heat, water, snow removal, and trash pickup.

4. 2026-04-10
   listed $935,000 Active 1003-char remark

   Show marketing remark (1003 chars)

   DIRECT WATERFRONT condo in the heart of Cos Cob Harbor. Experience serene riverfront living just minutes from trains, shops, restaurants, parks and more. This beautifully renovated 2-bed, 2-bath condo offers an open-concept main level featuring kitchen, dining area and living room with cozy fireplace. Sliding doors with direct access to a private balcony, providing tranquil views of the river. Upstairs the primary suite includes a full bath and second balcony, perfect for morning coffee overlooking the water. Another bedroom and full bath complete the upper level. White oak floors flow throughout, enhancing the home's bright, modern aesthetic. This exceptional waterfront condo combines comfort, style and convenience in a coveted location. Highlights Include: Dual balconies with direct water views Pull-down attic for extra storage Dedicated storage room One garage space plus one unassigned outdoor parking space. HOA of $809.12 per month, cover heat, water, snow removal, and trash pickup.

5. 2024-04-01
   soldstatus $875,000 Closed
6. 2024-03-29
   soldstatus $875,000 Closed
7. 2024-03-20
   status Pending
8. 2024-02-27
   status Under Contract
9. 2024-02-26
   historical Active Under Contract
10. 2024-02-07
    listed $875,000 Active
11. 2024-02-06
    listed $875,000 Active
12. 2016-08-10
    soldstatus $655,000
13. 2016-02-03
    listed $680,000

ⓘ 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: $5,729 · $477/mo
• Projected year-2 tax: $12,644 · $1,054/mo
• Expected delta: +$6,915/yr (+$576/mo · 120.7%)

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

Taxation est. · year 1

• Rental income: $77,803
• − Mortgage interest: −$51,198
• − Property taxes: −$5,729
• − Insurance: −$4,570
• − Repairs & maintenance: −$6,224
• − Management: −$6,224
• − HOA: −$9,708
• − Depreciation: −$26,589
• Taxable loss: −$32,440
• Est. tax savings @ 24.0%: +$7,786
• After-tax cash flow: $-8,274/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: Greenwich School District
• NCES district ID: 0901710
• Math proficiency: 64% ▼ -7.00%
• Reading proficiency: 73% ▼ -5.00%
• Median HH income: $129,257
• Composite: 65.67/100
• National rank: #461
• State rank: #12 of 153 in CT

Livability — Cos Cob

• Score: 73/100
• State rank: #72
• US rank: #5178

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cos Cob, CT
• City population: 7,667
• Population (ZIP): 7,667

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 63% Two or more races 15% Hispanic / Latino 13% Asian 7% Black 4%
• Hispanic origin (detail): Puerto Rican 6% Dominican 1%
• Common ancestry: Romanian 4% Estonian 4% Italian 3%
• Foreign-born: 24% · Canada, China, Jamaica
• Languages at home: 76% English-only · Other Indo-European 9% Spanish 6% Other Asian/Pacific 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: ▲ 7.90%
• Current HPI: 191.0957
• Rent YoY: —
• Metro: —
• 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

+34.4% since first listed

13 events — show timeline

• 2026-05-04 Price Changed $914,000 Smart MLS
• 2026-05-04 Price Changed $914,000 GMLS
• 2026-04-10 Listed $935,000 GMLS
• 2026-04-10 Listed $935,000 Smart MLS
• 2024-04-01 Sold (MLS) $875,000 GMLS
• 2024-03-29 Sold (MLS) $875,000 Smart MLS
• 2024-03-20 Pending — GMLS
• 2024-02-27 Pending — Smart MLS
• 2024-02-26 Contingent — GMLS
• 2024-02-07 Listed $875,000 Smart MLS
• 2024-02-06 Listed $875,000 GMLS
• 2016-08-10 Sold (MLS) $655,000 GMLS
• 2016-02-03 Listed $680,000 GMLS

Property tax history

+2.4%/yr

Latest (2023): $5,729 · +0.9% YoY. Source: county tax records.