315 Congress Ave Unit B · Waterbury, CT 06708

$116,667

2 bd · 1.5 ba · 1,120 sqft · Condo public records · 10 Days on market

Built 1986

---

Why this score? — see what drove the B- 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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

2br townhouse 1.5 bath common area garage must be purchased as a package deal with units a and c. .. cash or hard money only, no active condo association, roof 5yrs, driveway 5yrs, seperate water meters, water line to building 5yrs. .sold strickly as is, buyer to do due diligence. .call agent for more info, original declartions attached

Key facts

• Driveway 5yrs
• Garage
• Roof 5yrs

Tags

• GARAGE
• ROOF 5YRS
• DRIVEWAY 5YRS
• SEPARATE WATER METERS
• WATER LINE TO BUILDING 5YRS

Property features AI

Finance

• Other: Part of a 5-unit building
• HOA & community: No condo association (pets allowed)

Exterior

• Parking: Parking garage; 1 garage
• Utilities: Public water connected; Public sewer connected
• Home design: Condominium (Condo/Co-Op for sale); Part of the Valley View complex
• Construction: Frame construction
• Exterior features: Vinyl siding; Sloping lot

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Baseboard heating (electric); Electric hot water with 30-gallon tank
• Interior features: 5 total rooms; 2 levels in unit; Has attic with hatch access; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $117k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $117k).
• Cap rate 10.7% vs local median 3.6% in Waterbury — 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 79/100 on livability (#32 in CT, #2,205 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime D, employment D.
• Waterbury School District (suburban): math 12% / reading 23% proficiency, ranked #148 of 153 in CT (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.8%/yr); 121 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• This rent runs 30% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $806 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $33k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.

Recommended offer $116,667

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.46% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.61%
• DSCR: 1.69
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.53×
• Total profit: $17,256
• Equity at exit: $17,395

10-year hold

• IRR: 25.3%
• Equity multiple: 3.79×
• Total profit: $91,226
• Equity at exit: $10,087

Cash invested: $32,667 (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 06708

• Rents YoY: 9.8%
• Active inventory: 121
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,703 high
• Mortgage (P&I): −$612
• Tax from tax record: −$260 /mo · $3,118/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $425

Break-even live

Break-even rent $1,165

Max offer price $116,667

Occupancy floor 70%

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: $29,167
• Closing costs: $3,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
241 Congress Ave Unit 1st Floor Waterbury, CT	2.0	1.0	909	$1,300	$1.43	44d	1	0.07mi
124 Charles St Unit 2 Waterbury, CT	2.0	1.0	1012	$1,800	$1.78	44d	1	0.19mi
127 Congress Ave Unit 1 Waterbury, CT	3.0	1.0	1200	$2,300	$1.92	44d	1	0.20mi
468 Congress Ave Unit third floor Waterbury, CT	3.0	1.0	1250	$1,500	$1.20	23d	1	0.25mi
59 Green St Waterbury, CT	3.0	1.0	900	$1,650	$1.83	44d	1	0.29mi
654 Highland Ave Unit 2 Waterbury, CT	2.0	1.0	1000	$1,400	$1.40	44d	1	0.33mi
67 Avon Ave Unit 2 Waterbury, CT	2.0	1.0	887	$1,700	$1.92	23d	1	0.38mi
85 Draher St Unit 1 Waterbury, CT	2.0	1.0	1200	$1,600	$1.33	44d	1	0.40mi
95 Hawthorne Ave Unit 2 Waterbury, CT	3.0	1.0	1300	$1,800	$1.38	23d	1	0.45mi
65 Chambers St Unit 1 Waterbury, CT	2.0	1.0	800	$1,700	$2.12	44d	1	0.48mi
91 Taft St Unit 11 Waterbury, CT	2.0	1.5	1320	$2,600	$1.97	44d	1	0.49mi
44 Taft St Unit 9 Waterbury, CT	2.0	1.5	1200	$2,100	$1.75	44d	1	0.49mi
222 Chipman Street Ext Waterbury, CT	1.0	1.0	700	$1,400	$2.00	44d	1	0.50mi
203 Alder St Unit 1st floor Waterbury, CT	2.0	1.0	1060	$1,600	$1.51	44d	1	0.50mi
124 Geddes Ter Waterbury, CT	3.0	2.0	1255	$2,300	$1.83	44d	1	0.53mi
124 Geddes Ter Unit Left Waterbury, CT	3.0	1.5	1255	$2,300	$1.83	44d	1	0.53mi
20 Lounsbury Ave Waterbury, CT	1.0	1.0	900	$1,150	$1.28	44d	1	0.61mi
56 Lounsbury St Unit 3s Waterbury, CT	2.0	1.0	810	$1,250	$1.54	23d	1	0.61mi
691 S Main St Unit 3RD Waterbury, CT	3.0	1.0	1000	$1,600	$1.60	44d	1	0.62mi
472 S Main St Unit 9 Waterbury, CT	1.0	1.0	800	$1,200	$1.50	14d	1	0.70mi
173 Bradley Ave Waterbury, CT	2.0	1.0	900	$1,850	$2.06	3d	1	0.75mi
1120 Baldwin St Waterbury, CT	3.0	1.0	1100	$1,750	$1.59	44d	1	0.80mi
429 Baldwin St Unit 2 Waterbury, CT	3.0	1.0	900	$1,600	$1.78	3d	1	0.81mi
423 Baldwin St Unit 2 Waterbury, CT	3.0	1.0	900	$1,600	$1.78	3d	1	0.82mi
222 Bradley Ave Waterbury, CT	2.0	1.0–1.5	594	$1,625	$2.74	3d	3	0.82mi
75 Vernon St Waterbury, CT	2.0	1.0	1000	$1,450	$1.45	44d	1	0.89mi
14 Elmview Cir Unit 3 Waterbury, CT	2.0	1.0	900	$1,450	$1.61	23d	1	0.89mi
59 Baldwin Ave Waterbury, CT	3.0	1.0	1200	$2,350	$1.96	44d	1	0.93mi
1101 Highland Ave Waterbury, CT	2.0	1.5	1380	$1,800	$1.30	23d	1	0.94mi
1101 Highland Ave Waterbury, CT	2.0	1.5	1180	$1,800	$1.53	44d	1	0.94mi
219 Nichols Dr Waterbury, CT	2.0	1.5	1060	$1,550	$1.46	3d	1	0.95mi
63 Bank St Unit 3A Waterbury, CT	2.0	1.0	903	$1,700	$1.88	14d	1	0.97mi
150 Mohican Ave Unit 4 Waterbury, CT	2.0	1.5	1024	$1,650	$1.61	23d	1	0.97mi
23 Lake St Waterbury, CT	3.0	1.5	1000	$2,200	$2.20	23d	1	1.06mi
1171 W Main St Waterbury, CT	3.0	1.0	1500	$1,795	$1.20	23d	1	1.08mi
174 Lucille St Unit 2 Waterbury, CT	2.0	1.0	875	$1,600	$1.83	44d	1	1.13mi
332 Robbins St Waterbury, CT	3.0	1.0	1160	$2,500	$2.16	23d	1	1.13mi
32 Willow St Unit 1B Waterbury, CT	1.0	1.0	850	$1,250	$1.47	14d	1	1.16mi
32 Willow St Unit 1A Waterbury, CT	1.0	1.0	800	$1,250	$1.56	23d	1	1.16mi
1017 W Main St Unit 2R Waterbury, CT	3.0	1.0	850	$1,500	$1.76	23d	1	1.16mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $116,667 Active 10 DOM
2. 2026-06-17
   days on market $116,667 Active 9 DOM
3. 2026-06-16
   days on market $116,667 Active 8 DOM
4. 2026-06-15
   days on market $116,667 Active 7 DOM
5. 2026-06-14
   days on market $116,667 Active 5 DOM
6. 2026-06-13
   remarks 338-char remark
7. 2026-06-13
   days on market $116,667 Active 4 DOM
8. 2026-06-10
   days on market $116,667 Active 2 DOM
9. 2026-06-09
   remarks 300-char remark
10. 2026-06-09
    listed $116,667 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: $3,118 · $260/mo
• Projected year-2 tax: $3,118 · $260/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $20,434
• − Mortgage interest: −$6,535
• − Property taxes: −$3,118
• − Insurance: −$583
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − Depreciation: −$3,394
• Taxable income: $3,534
• Est. tax owed @ 24.0%: −$848
• After-tax cash flow: $4,251/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: Waterbury School District
• NCES district ID: 0904830
• Math proficiency: 12% ▼ -7.00%
• Reading proficiency: 23% ▼ -8.00%
• Median HH income: $40,040
• Composite: 14.85/100
• National rank: #9380
• State rank: #148 of 153 in CT

Livability — Waterbury

• Score: 79/100
• State rank: #32
• US rank: #2205

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waterbury, CT
• County: New Haven County · 688,236 people
• City population: 115,012
• Metro: New Haven-Milford, CT
• Population (ZIP): 29,594
• Household income: $67,364
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 1276.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 43% Hispanic / Latino 33% Black 17% Two or more races 13% Asian 2%
• Hispanic origin (detail): Puerto Rican 17% Dominican 8%
• Common ancestry: Romanian 2% Russian 2% Estonian 2%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 64% English-only · Spanish 23% Other Indo-European 8% French/Haitian/Cajun 1%

Political lean MEDSL · Naugatuck Valley

• 2024 margin: Lean R (+7.4) · D 45.6% · R 53.0% · Other 1.4%
• All cycles: 2024: R+7.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -297.81%
• Current HPI: 281.1446
• Rent YoY: ▲ 9.75%
• Metro: New Haven-Milford, 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

+58.7% since first listed

7 events — show timeline

• 2026-06-08 Listed $116,667 Smart MLS
• 2013-01-18 Listing Removed — Smart MLS
• 2012-06-20 Listed $42,750 Smart MLS
• 2010-08-16 Listing Removed — Smart MLS
• 2010-02-16 Listed $64,900 Smart MLS
• 2009-12-18 Listing Removed — Smart MLS
• 2009-08-10 Listed $73,500 Smart MLS

Property tax history

+7.1%/yr

Latest (2023): $3,118 · +126.6% YoY. Source: county tax records.