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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Residential income homes
185 Frst Ave Fairfield, CT 06824-6573
Individually Owned
25-yr Hold
~
Est. High Equity
Property ID
US15-0873109
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1954
Total area
3,328 SF
Lot
0.21 ac (9,000 SF)
Zoning code
B
APN
FAIR M:183 B:156
UPID
US15-0873109
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$587k
Blend (final)
Blend
$565k
Owner & transaction history
Roy W Bjorlin · 25 yrs held
Roy W Bjorlin
since 2001
3 recorded transactions
Zoning & alternative use
B · Fairfield, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$780,000
+47.5%
Retail stores
$620,000
+17.3%
Office building
$580,000
+10.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fairfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$525,000
Current use
AUTO REPAIR, GARAGE
$780,000
Change: +47% · Conversion: Difficult
RETAIL STORES
$620,000
Change: +17% · Conversion: Difficult
OFFICE BUILDING
$580,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$565k
Range $509k – $622k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$170 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$13,143
Tax year 2023
Assessed value
$477,750
Assessed 2023
Previous assessed
$477,750
+0.0% YoY
Effective rate
2.75%
On assessed value
Assessed land
$295,190
Assessed improvement
$182,560
Applied tax rate
104.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1954
Heating
FORCED AIR
Buildings
1
Stories
2
Units
4
Rooms
16
Bathrooms
4
Total area
3,328 SF
Lot
0.21 ac (9,000 SF)
Zoning code
B
APN
FAIR M:183 B:156
UPID
US15-0873109
Jurisdiction
FAIRFIELD
Zoning & alternative use
B · Fairfield, CT
Zoning B · permitted uses
B · Fairfield, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fairfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$525,000
AUTO REPAIR, GARAGE
Est. value
$780,000
RETAIL STORES
Est. value
$620,000
OFFICE BUILDING
Est. value
$580,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1954
Heating
FORCED AIR
Stories
2
Buildings
1
Units
4
Rooms
16
Bathrooms
4
Lot
0.21 ac
Current owner
From public records · entity-resolved
Roy W Bjorlin
Individual
Mailing address
240 FULLING ML LN, FAIRFIELD, CT 06824-2836
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2004
—
Roy W Bjorlin
—
Deed Of Trust
related
$320,000 · Chase Manhattan Mortgage Corp
Jul 16, 2001
$110,000
Roy W Bjorlin
Hancock,audrey A
Warranty Deed
$321,750 · Chase Home Mortgage
Jul 16, 2001
$165,000
Roy W Bjorlin
Fortuna Margaret A Est
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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