17 Lake Ave · Danbury, CT 06810

$525,000

3 bd · 2.0 ba · 1,948 sqft · MultiFamily public records · 6 Days on market

Built 1900 10,018 sqft lot Est $623k · 16% under

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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 +16.5/30.0
• ARV discount +14.6/15.0
• DSCR +5.1/10.0
• 1% rule +4.2/10.0
• 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

Multi-family units

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

Listing remarks MLS

Two Family Home In Central Danbury, 1 Br On Main Level 2 Br On Second Floor, Needs Work, All Separate Utilities, Verification Of Funds, Pre-Approval And Cmls Contract Form Needed For Submission. Off Street Parking

Key facts

• Oversized deck
• In-unit laundry
• Storage shed

Tags

• IN-UNIT LAUNDRY
• FINISHED WALK-UP ATTIC
• OVERSIZED DECK
• PARTIALLY FENCED YARD
• STORAGE SHED
• OFF-STREET PARKING

Property features AI

Exterior

• Parking: Off-street parking including driveway; Total of 4 parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family property (2-family); Frame construction; White exterior
• Construction: Asphalt shingle roof; Vinyl siding; Masonry/stone foundation
• Exterior features: Level lot; Shed; Deck; Gutters; Exterior lighting; Private paved driveway

Interior

• Bedrooms: Three bedrooms (total for the property)
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot air heating; Natural gas hot water
• Interior features: Nine total rooms; Full, unfinished basement with interior access; Attic with finished, floored storage space and walk-up access
• Laundry & utility: Laundry located within each unit; All units have laundry hook-ups

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive. Per door: $152/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 $482k (8.1% below list).
• Recommended offer: $482k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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); 200 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $4,825/mo this rent would consume 75% 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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 33y 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 $180k; list at $525k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $482,500 (8.1% 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 1900 — 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. 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: 0.92% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.48%
• DSCR: 1.11
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $623,360
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Merrimac St	0.35mi	4/3.0 (+1)	1,911 (-2%)	9mo	$550,000	$288	64
11 Roger Ave	0.16mi	4/2.0 (+1)	1,664 (-15%)	5mo	$640,000	$385	59
2 Edgewood St	0.51mi	2/2.0 (-1)	1,688 (-13%)	10mo	$540,000	$320	41

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: -12.3%
• Equity multiple: 0.56×
• Total profit: $-65,312
• Equity at exit: $78,279

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-30,334
• Equity at exit: $45,392

Cash invested: $147,000 (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: 200
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $4,825 high
• Mortgage (P&I): −$2,753
• Tax from tax record: −$536 /mo · $6,428/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,013
• Net cashflow: $304

Break-even live

Break-even rent $4,440

Max offer price $525,000

Occupancy floor 89%

Sensitivity live

Price	-10% $601	-5% $453	+0% $304	+5% $156	+10% $7
Rent	-10% $-77	-5% $114	+0% $304	+5% $495	+10% $685
Rate	-1.0pp $569	-0.5pp $438	base $304	+0.5pp $168	+1.0pp $30

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,826
Total (2 units)			$4,825

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Rose St Unit 24-6 Danbury, CT	2.0	1.5	1285	$2,300	$1.79	21d	1	0.64mi
8 Rose St Unit 26-14 Danbury, CT	3.0	1.5	1370	$3,000	$2.19	5d	1	0.64mi
22 Irving Pl Danbury, CT	3.0	1.0	1995	$3,000	$1.50	25d	1	0.64mi
12 Irving Pl Unit A Danbury, CT	3.0	1.5	2500	$2,700	$1.08	13d	1	0.65mi
68 Grand St Danbury, CT	3.0	1.0	1480	$1,900	$1.28	4d	1	0.85mi
38 Starr Ave Danbury, CT	2.0	1.0	1948	$2,250	$1.16	45d	1	0.86mi
15 Scuppo Rd #1504 Danbury, CT	2.0	1.5	2025	$2,800	$1.38	45d	1	0.88mi
6 Barnum Ct #6 Danbury, CT	3.0	2.5	1620	$3,200	$1.98	16d	1	0.94mi
10 Clapboard Ridge Rd Danbury, CT	1.0–3.0	1.0–2.0	1061	$3,308	$3.12	4d	20	1.02mi

Listing history 5 events

1. 2026-06-22
   days on market $525,000 Active 6 DOM
2. 2026-06-18
   days on market $525,000 Active 3 DOM
3. 2026-06-17
   days on market $525,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $525,000 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: $6,428 · $536/mo
• Projected year-2 tax: $8,832 · $736/mo
• Expected delta: +$2,404/yr (+$200/mo · 37.4%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $57,900
• − Mortgage interest: −$29,408
• − Property taxes: −$6,428
• − Insurance: −$2,625
• − Repairs & maintenance: −$4,632
• − Management: −$4,632
• − Depreciation: −$15,273
• Taxable loss: −$5,098
• Est. tax savings @ 24.0%: +$1,223
• After-tax cash flow: $4,874/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

+208.8% since first listed

20 events — show timeline

• 2026-06-15 Listed $525,000 Smart MLS
• 2012-12-27 Sold (MLS) $180,000 Smart MLS
• 2012-03-13 Listed $225,000 Smart MLS
• 2007-12-17 Listing Removed — Smart MLS
• 2007-02-06 Listed $498,000 Smart MLS
• 2006-11-21 Listing Removed — Smart MLS
• 2006-04-14 Listed $525,000 Smart MLS
• 2004-08-30 Sold (Public Records) $358,000 Public Records
• 2004-08-27 Sold (MLS) $358,000 Smart MLS
• 2004-07-02 Listed $360,000 Smart MLS
• 2002-11-18 Sold (Public Records) $275,000 Public Records
• 2002-11-18 Sold (MLS) $275,000 Smart MLS
• 2002-07-11 Listed $280,000 Smart MLS
• 1995-01-18 Sold (Public Records) $165,000 Public Records
• 1995-01-18 Sold (MLS) $165,000 Smart MLS
• 1994-07-26 Listed $168,500 Smart MLS
• 1993-12-30 Sold (Public Records) $55,000 Public Records
• 1993-12-17 Sold (MLS) $55,000 Smart MLS
• 1993-09-20 Listed $99,900 Smart MLS
• 1990-08-03 Sold (Public Records) $170,000 Public Records

Property tax history

+6.8%/yr

Latest (2023): $6,428 · +35.8% YoY. Source: county tax records.