370 Rowayton Ave · Norwalk, CT 06853

$1,995,000

4 bd · 4.0 ba · 2,584 sqft · SingleFamily public records · 12 Days on market

Built 1924 0.37 ac lot Est $1535k · 30% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Undeniably chic and move-in ready, this 4BR home has been improved beyond your wildest dreams with stunning wire-brushed wide plank white oak floors and many other stylish design elements throughout. A newly renovated chef's kitchen with custom inset cabinetry, Stainless Steel appliances and quartz counter tops opens to a bright family room with cathedral ceilings and fireplace and expands to the custom deck and blue-stone terrace for loads of entertaining inside and out. The large living room with fireplace and a sunny dining room are great for formal gatherings and holidays. Completing the first floor is a guest room or office with en-suite bath and balcony. Three additional bedrooms and 2 baths are on the 2nd floor. Huge walk out 2nd family room or rec room with fireplace on the lower level. 3rd floor playroom. Private fenced yard for play or pooch. Walk to train. Rowayton School.

Key facts

• Bar area
• Dining room
• Formal living room

Tags

• RENOVATED CHEF'S KITCHEN
• WOOD-BURNING FIREPLACE
• EXPANSIVE AND PRIVATE PROPERTY
• FORMAL LIVING ROOM
• BAR AREA
• DINING ROOM

Property features AI

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family home; Beach rights
• Construction: Built with wood frame construction; Shingle and wood siding; Asphalt shingle roof; Concrete foundation
• Exterior features: Balcony; Deck; Gutters; French doors; Patio; Privacy fence; Dry lot

Interior

• Kitchen: Gas cooktop; Wall oven; Microwave; Range hood; Refrigerator; Dishwasher; Wine chiller
• Bedrooms: 4 bedrooms
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Hot air heating (oil-fired); Oil hot water (domestic); fuel tank in basement
• Interior features: Auto garage door opener; Pre-wired for cable; Open floor plan; Three fireplaces; Full heated and cooled basement, partially finished with walk-out; Walk-up attic
• Laundry & utility: Main level laundry; Washer included

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $2.00M.

Deal economics

• At list price, monthly cash flow is $9k ($104k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($27k rent vs $2.00M).
• Cap rate 11.5% 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: Rowayton School (math 60% / reading 64%, grade B, #137 of 553 statewide, top 28%, 468 students, 33% FRL); Brien Mcmahon High School (math 30% / reading 58%, grade F, #97 of 194 statewide, top 50%, 1,711 students, 49% FRL) — zoned schools at 41% FRL track the district average.
• Zoned-school proficiency averages 53% at this address vs 36% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Norwalk School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 25 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $14k of loan paydown is wiped out by about $60k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $559k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 34y 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 $1.08M; list at $2.00M implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 77% 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 $1,995,000

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.71%
• DSCR: 1.83
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $1,534,896
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
79 Devils Garden Rd	0.11mi	4/3.0	2,442 (-6%)	12mo	$1,400,000	$573	72
8 Ledge Rd	0.57mi	4/3.0	2,528 (-2%)	1mo	$1,900,000	$752	65
2 Finch Ct	0.23mi	4/2.0	2,260 (-12%)	0mo	$1,027,000	$454	60
290 Rowayton Ave	0.37mi	3/3.5 (-1)	2,693 (+4%)	11mo	$1,600,000	$594	60
20 Indian Spring Rd	0.73mi	4/3.5	2,597 (+0%)	7mo	$2,700,000	$1,040	58
12 Hunt St	0.53mi	3/3.5 (-1)	2,547 (-1%)	14mo	$1,602,580	$629	55
9 Arnold Ln	0.24mi	3/2.0 (-1)	2,264 (-12%)	2mo	$1,100,700	$486	53
199 Old Kings Hwy N	0.55mi	4/3.0	2,409 (-7%)	11mo	$1,575,000	$654	50
21 Gilbert Hill Rd	0.41mi	3/2.0 (-1)	2,336 (-10%)	11mo	$900,000	$385	43
2 Hollow Spring Rd	0.59mi	4/2.5	2,356 (-9%)	13mo	$860,000	$365	41
221 Old Kings Hwy N	0.55mi	4/2.5	2,301 (-11%)	11mo	$1,725,000	$750	41
1 Charcoal Rd	0.52mi	5/3.0 (+1)	2,943 (+14%)	15mo	$935,000	$318	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.41×
• Total profit: $227,736
• Equity at exit: $297,461

10-year hold

• IRR: 19.4%
• Equity multiple: 2.62×
• Total profit: $907,414
• Equity at exit: $172,491

Cash invested: $558,600 (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 06853

• Home prices YoY: -26.8%
• Active inventory: 25
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $27,254 medium
• Mortgage (P&I): −$10,462
• Tax from tax record: −$1,528 /mo · $18,339/yr
• Insurance: −$831
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,723
• Net cashflow: $8,654

Break-even live

Break-even rent $16,300

Max offer price $1,995,000

Occupancy floor 63%

Sensitivity live

Price	-10% $9,783	-5% $9,218	+0% $8,654	+5% $8,089	+10% $7,524
Rent	-10% $6,501	-5% $7,577	+0% $8,654	+5% $9,730	+10% $10,807
Rate	-1.0pp $9,658	-0.5pp $9,161	base $8,654	+0.5pp $8,137	+1.0pp $7,611

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: $498,750
• Closing costs: $59,850
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
91 Raymond St Darien, CT	5.0	4.5	3341	$10,500	$3.14	3d	1	0.48mi
5 Hollow Spring Rd Norwalk, CT	5.0	2.5	2226	$7,500	$3.37	44d	1	0.53mi
233 Rowayton Ave Norwalk, CT	3.0	2.5	2579	$26,000	$10.08	3d	1	0.68mi
6 Edgewood St Unit A Norwalk, CT	3.0	2.5	1900	$4,950	$2.61	44d	1	0.72mi
139 Highland Ave Norwalk, CT	4.0	2.5	3158	$25,000	$7.92	44d	1	0.74mi
9 Dancing Bear Rd Norwalk, CT	3.0	3.0	3542	$30,000	$8.47	44d	1	0.95mi
18 Soundview Ave Unit 1 Norwalk, CT	3.0	1.0	3168	$3,000	$0.95	44d	1	1.09mi
111 Rowayton Ave #201 Norwalk, CT	3.0	3.0	2399	$30,000	$12.51	3d	1	1.15mi

Listing history 24 events

1. 2026-04-20
   status Under Contract
2. 2026-04-07
   listed $1,995,000 Active
3. 2018-12-14
   soldstatus $1,081,000 Closed 896-char remark

   Show marketing remark (896 chars)

   Undeniably chic and move-in ready, this 4BR home has been improved beyond your wildest dreams with stunning wire-brushed wide plank white oak floors and many other stylish design elements throughout. A newly renovated chef's kitchen with custom inset cabinetry, Stainless Steel appliances and quartz counter tops opens to a bright family room with cathedral ceilings and fireplace and expands to the custom deck and blue-stone terrace for loads of entertaining inside and out. The large living room with fireplace and a sunny dining room are great for formal gatherings and holidays. Completing the first floor is a guest room or office with en-suite bath and balcony. Three additional bedrooms and 2 baths are on the 2nd floor. Huge walk out 2nd family room or rec room with fireplace on the lower level. 3rd floor playroom. Private fenced yard for play or pooch. Walk to train. Rowayton School.

4. 2018-12-14
   soldstatus $1,081,000

   Show marketing remark (896 chars)

   Undeniably chic and move-in ready, this 4BR home has been improved beyond your wildest dreams with stunning wire-brushed wide plank white oak floors and many other stylish design elements throughout. A newly renovated chef's kitchen with custom inset cabinetry, Stainless Steel appliances and quartz counter tops opens to a bright family room with cathedral ceilings and fireplace and expands to the custom deck and blue-stone terrace for loads of entertaining inside and out. The large living room with fireplace and a sunny dining room are great for formal gatherings and holidays. Completing the first floor is a guest room or office with en-suite bath and balcony. Three additional bedrooms and 2 baths are on the 2nd floor. Huge walk out 2nd family room or rec room with fireplace on the lower level. 3rd floor playroom. Private fenced yard for play or pooch. Walk to train. Rowayton School.

5. 2018-11-27
   historical 896-char remark

   Show marketing remark (896 chars)

   Undeniably chic and move-in ready, this 4BR home has been improved beyond your wildest dreams with stunning wire-brushed wide plank white oak floors and many other stylish design elements throughout. A newly renovated chef's kitchen with custom inset cabinetry, Stainless Steel appliances and quartz counter tops opens to a bright family room with cathedral ceilings and fireplace and expands to the custom deck and blue-stone terrace for loads of entertaining inside and out. The large living room with fireplace and a sunny dining room are great for formal gatherings and holidays. Completing the first floor is a guest room or office with en-suite bath and balcony. Three additional bedrooms and 2 baths are on the 2nd floor. Huge walk out 2nd family room or rec room with fireplace on the lower level. 3rd floor playroom. Private fenced yard for play or pooch. Walk to train. Rowayton School.

6. 2018-10-14
   historical Under Contract - Continue to Show 896-char remark

   Show marketing remark (896 chars)

   Undeniably chic and move-in ready, this 4BR home has been improved beyond your wildest dreams with stunning wire-brushed wide plank white oak floors and many other stylish design elements throughout. A newly renovated chef's kitchen with custom inset cabinetry, Stainless Steel appliances and quartz counter tops opens to a bright family room with cathedral ceilings and fireplace and expands to the custom deck and blue-stone terrace for loads of entertaining inside and out. The large living room with fireplace and a sunny dining room are great for formal gatherings and holidays. Completing the first floor is a guest room or office with en-suite bath and balcony. Three additional bedrooms and 2 baths are on the 2nd floor. Huge walk out 2nd family room or rec room with fireplace on the lower level. 3rd floor playroom. Private fenced yard for play or pooch. Walk to train. Rowayton School.

7. 2018-10-03
   listed $1,099,000 Active 896-char remark

   Show marketing remark (896 chars)

   Undeniably chic and move-in ready, this 4BR home has been improved beyond your wildest dreams with stunning wire-brushed wide plank white oak floors and many other stylish design elements throughout. A newly renovated chef's kitchen with custom inset cabinetry, Stainless Steel appliances and quartz counter tops opens to a bright family room with cathedral ceilings and fireplace and expands to the custom deck and blue-stone terrace for loads of entertaining inside and out. The large living room with fireplace and a sunny dining room are great for formal gatherings and holidays. Completing the first floor is a guest room or office with en-suite bath and balcony. Three additional bedrooms and 2 baths are on the 2nd floor. Huge walk out 2nd family room or rec room with fireplace on the lower level. 3rd floor playroom. Private fenced yard for play or pooch. Walk to train. Rowayton School.

8. 2018-07-27
   historical
9. 2018-05-18
   listed $1,269,000 Active
10. 2017-03-06
    soldstatus $1,115,000
11. 2017-03-03
    soldstatus $1,115,000
12. 2017-01-20
    historical
13. 2016-02-21
    listed $1,289,000
14. 2011-11-01
    historical
15. 2010-11-01
    listed $1,295,000
16. 2010-10-08
    historical
17. 2010-04-19
    listed $1,295,000
18. 2009-10-31
    historical
19. 2009-04-03
    listed $1,295,000
20. 2002-04-16
    historical
21. 2001-10-18
    listed $1,400,000
22. 1993-03-04
    soldstatus $310,000
23. 1992-06-01
    listed $337,000
24. 1988-08-01
    soldstatus $335,000

ⓘ 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: $18,339 · $1,528/mo
• Projected year-2 tax: $30,516 · $2,543/mo
• Expected delta: +$12,177/yr (+$1,015/mo · 66.4%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 8/10 Severe 13 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $327,049
• − Mortgage interest: −$111,751
• − Property taxes: −$18,339
• − Insurance: −$10,642
• − Repairs & maintenance: −$26,164
• − Management: −$26,164
• − Depreciation: −$58,036
• Taxable income: $75,954
• Est. tax owed @ 24.0%: −$18,229
• After-tax cash flow: $85,616/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
• City population: 89,026
• Population (ZIP): 3,229

Population outlook (Western Connecticut County) Hauer SSP2

• By 2040: 685,031

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 2% Asian 2% Black 2%
• Common ancestry: Lithuanian 5% Romanian 4% Italian 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · German/W. Germanic 3% Spanish 3% 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: ▼ -77.55%
• Current HPI: 212.295
• 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

+495.5% since first listed

24 events — show timeline

• 2026-04-20 Pending — Smart MLS
• 2026-04-07 Listed $1,995,000 Smart MLS
• 2018-12-14 Sold (Public Records) $1,081,000 Public Records
• 2018-12-14 Sold (MLS) $1,081,000 Smart MLS
• 2018-11-27 Listing Removed — Smart MLS
• 2018-10-14 Contingent — Smart MLS
• 2018-10-03 Listed $1,099,000 Smart MLS
• 2018-07-27 Listing Removed — Smart MLS
• 2018-05-18 Listed $1,269,000 Smart MLS
• 2017-03-06 Sold (Public Records) $1,115,000 Public Records
• 2017-03-03 Sold (MLS) $1,115,000 Smart MLS
• 2017-01-20 Listing Removed — Smart MLS
• 2016-02-21 Listed $1,289,000 Smart MLS
• 2011-11-01 Listing Removed — Smart MLS
• 2010-11-01 Listed $1,295,000 Smart MLS
• 2010-10-08 Listing Removed — Smart MLS
• 2010-04-19 Listed $1,295,000 Smart MLS
• 2009-10-31 Listing Removed — Smart MLS
• 2009-04-03 Listed $1,295,000 Smart MLS
• 2002-04-16 Listing Removed — Smart MLS
• 2001-10-18 Listed $1,400,000 Smart MLS
• 1993-03-04 Sold (MLS) $310,000 Smart MLS
• 1992-06-01 Listed $337,000 Smart MLS
• 1988-08-01 Sold (Public Records) $335,000 Public Records

Property tax history

+0.2%/yr

Latest (2023): $18,339 · +4.3% YoY. Source: county tax records.