Five Mile Landing Norwalk CT
Address: 71 Rowayton Avenue, Norwalk, CT
Total Units: 8
Year Built: 2015
Style: Townhouse
Bedrooms: 2–3
Price Range (MLS history): $915,000 – $2,920,000
HOA Fee: $760/month
Property Tax: $7,168/year (varies by unit)
Five Mile Landing Condos for Sale
With only eight units in the entire building, availability at Five Mile Landing does not come up often. This is a purpose-built, small-scale condominium community completed in 2015, and turnover reflects that scarcity. Most buyers who acquire a unit here hold it. When something does come to market, it rarely sits. Active listings are not always reflected in public search feeds before they attract an offer, which means buyers serious about Five Mile Landing need to monitor the building actively, not casually. Contact The Engel Team’s Norwalk real estate desk directly for current availability, including any units that may be coming to market before they are formally listed.
Recently Sold at Five Mile Landing
MLS records show ten sales at Five Mile Landing since the building’s first transactions in 2016. Closed prices ranged from $915,000 to $2,920,000, with a median sale price of $1,450,000. Unit sizes ran from 1,417 to 3,146 square feet. The median price per square foot across all recorded sales was approximately $756. That spread reflects a significant difference in unit configuration, not just market timing.
The two most recent sales, both in 2023, closed at $1,225,000 (Unit 8, 1,417 SF, 2 bed/3 bath) and $1,375,000 (Unit 7, 1,534 SF, 2 bed/2 bath). Those two-bedroom units traded in a range of $756 to $897 per square foot. The three-bedroom units sold at various points from 2016 through 2017 ranged from $1,525,000 to $2,920,000 depending on size and floor position, with the largest unit, Unit 1 at 3,146 SF, setting the building record at $2,920,000 in October 2016.
| Unit | Date | Price | Bed/Bath | SqFt | HOA/mo | Tax/yr |
|---|---|---|---|---|---|---|
| 7 | 06/15/2023 | $1,375,000 | 2/2 | 1,534 | $850 | $14,776 |
| 8 | 02/28/2023 | $1,225,000 | 2/3 | 1,417 | $760 | $14,432 |
| 7 | 08/04/2020 | $975,000 | 2/2 | 1,523 | $0 | $14,336 |
| 4 | 08/23/2017 | $1,590,000 | 3/3 | 2,110 | – | $22,854 |
| 3 | 05/04/2017 | $1,600,000 | 3/3 | 2,110 | – | $22,968 |
| 8 | 01/12/2017 | $915,000 | 2/3 | 1,523 | – | – |
| 2 | 01/11/2017 | $1,800,000 | 3/3 | 2,331 | – | – |
| 1 | 10/25/2016 | $2,920,000 | 3/5 | 3,146 | – | – |
| 5 | 09/30/2016 | $1,525,000 | 3/3 | 2,110 | – | – |
| 7 | 04/07/2016 | $925,000 | 2/2 | 1,523 | – | – |
Note that several early sales recorded $0 for taxes, which reflects incomplete MLS data at the time of those transactions rather than an actual zero-tax assessment. Buyers should verify current assessed values directly with the City of Norwalk tax assessor’s office.
About Five Mile Landing
Five Mile Landing is located at 71 Rowayton Avenue in the Rowayton section of Norwalk, CT. The building was completed in 2015, which makes it one of the newer condominium communities in this corridor. Eight units total. That is not a typo, and it is not a marketing shorthand for “boutique.” It is genuinely one of the smallest condominium buildings you will find at this price point in Fairfield County. The Rowayton Avenue address places it within walking distance of Rowayton’s Five Mile River and village center, a stretch of coastline and commercial activity that has supported some of the strongest per-square-foot pricing in the Norwalk market for years. For buyers comparing Norwalk CT condos across multiple neighborhoods, the Rowayton location sets Five Mile Landing apart from anything on the East Norwalk or South Norwalk waterfront.
Homes and Layouts at Five Mile Landing
Sales records show a clear two-tier configuration at Five Mile Landing. The smaller units range from approximately 1,417 to 1,534 square feet with two bedrooms and two or three bathrooms. The larger units run from 2,110 to 3,146 square feet with three bedrooms and three to five bathrooms. The building is townhouse-style, meaning units are vertically oriented rather than flat-stacked. That layout typically means private entry, multiple levels of living space, and a more house-like feel than a standard condominium floor plan. Buyers considering Five Mile Landing who are downsizing from a single-family home in the area often find the townhouse format more comfortable than a single-level flat. Specific details on parking, storage, and private outdoor space should be confirmed through the listing or association documents, as unit-level finishes and configurations varied during the initial sales period.
What Buyers Need to Know
The current HOA fee is $760 per month based on available data for Unit 8. Unit 7 recorded an $850 monthly HOA fee as of its 2023 sale, which suggests fees vary by unit or have been adjusted over time. Buyers should request the current fee schedule for the specific unit they are considering, not assume a single figure applies building-wide.
Property taxes are a serious line item here. The two most recent sales showed annual tax bills of $14,432 and $14,776, which is substantially higher than Norwalk’s town-wide median and significantly above what the base HOA data suggests for smaller units. The $7,168 figure in the base data may reflect one unit’s current assessment; buyers should verify the current tax bill for any specific unit before modeling carrying costs.
Five Mile Landing is located in Rowayton, which has waterfront and near-waterfront exposure throughout the neighborhood. Buyers should confirm the flood zone designation for their specific unit, obtain an elevation certificate if applicable, and get flood insurance quotes before committing. Flood insurance costs in coastal Norwalk can vary sharply by unit elevation and zone, and that variance belongs in every buyer’s financial model.
With only eight units in the building, the owner-occupancy ratio matters more here than in a large complex. A single investor-owned unit can shift the ratio enough to affect conventional financing eligibility. Buyers using financing should have their lender review the association’s current owner-occupancy figures as part of pre-approval. Special assessment history and current reserve fund levels are also worth requesting early. An eight-unit association has less capacity to absorb a major capital expense without a per-unit assessment. The resale package, which includes meeting minutes, financials, reserve study, and current rules, should be reviewed carefully before removing any contingency.
Renovation variation is likely. Units that sold in 2016 and 2017 during the initial sales period may have been upgraded by current owners at different levels, which creates real condition differences at resale even within the same floor plan. Buyers should not assume comparable pricing means comparable condition.
Buying or Selling at Five Mile Landing
Pricing a unit at Five Mile Landing accurately requires understanding the full sales history, not just the most recent comparable. With ten sales over roughly nine years and significant variation by unit size and floor position, there is no single number that defines this building. The 2023 sales at $1,225,000 and $1,375,000 set the most recent baseline for two-bedroom units, but those figures do not automatically translate to a three-bedroom valuation in a different market environment. Norwalk’s broader condo market has seen median price softening in recent months, with Norwalk homes for sale reflecting a six-month inventory shift and a decline in overall median prices. A unit here priced against the 2016-2017 three-bedroom sales will not perform the same way in the current market.
Sellers need a broker who has worked with thin-comp buildings before and knows how to position a unit when the comparable set is limited to fewer than a dozen sales over nearly a decade. Buyers need someone monitoring the building before it hits public feeds, because that window between a seller’s decision and a public listing is often where the best transactions happen in a building this small.
The Engel Team works the Norwalk real estate market with direct knowledge of waterfront and near-waterfront condominium pricing, including buildings where the comp set is thin and pricing judgment matters more than automated estimates. Whether you are buying, tracking a unit, or ready to list, reach out directly for a current valuation or to get on the watch list for Five Mile Landing availability.
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