63 W Liberty St · Waterbury, CT 06706

$579,000

4 bd · 4.0 ba · 3,250 sqft · MultiFamily public records · 6 Days on market

Built 1890 3,920 sqft lot

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Why this score? — see what drove the D+ 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 +16.2/30.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Fantastic opportunity to own a fully renovated 4-family property. Recent top-to-bottom updates include new roof, siding, windows, sheetrock, plumbing, electrical, gas boilers, and hot water heaters. Units feature new kitchens, bathrooms, and flooring throughout. Turnkey property with nothing to do but collect the rents. Ideal for investors or owner-occupants. Convenient location close to highways, train station, city bus, hospitals, shopping, and other amenities. Great income potential.

Key facts

• Fully renovated
• New kitchens
• New siding

Tags

• FULLY RENOVATED
• NEW ROOF
• NEW SIDING
• NEW WINDOWS
• NEW KITCHENS
• NEW BATHROOMS

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/?-bath units multifamily listed at $579k.

Deal economics

• At list price, monthly cash flow is $310 ($4k/yr) — positive. Per door: $78/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 $518k (10.6% below list).
• Recommended offer: $518k (10.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: 42 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).
• At $5,176/mo this rent would consume 119% of the median local household income ($52k/yr) (locally 801% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $12k of equity ($4k loan paydown + $8k appreciation (1.4% local appreciation)).
• At projected returns (1.4% appreciation + 3.0% rent growth), your $162k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 27% 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 $517,600 (10.6% 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 1890 — 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. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.89% ✗
• Cap rate: 6.94%
• Cash-on-cash: 2.30%
• DSCR: 1.10
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $351,000
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
460 Congress Ave	0.72mi	5/3.0 (+1)	3,156 (-3%)	6mo	$412,500	$131	47
122 Ridge St	0.39mi	5/3.0 (+1)	2,965 (-9%)	18mo	$315,000	$106	43
17 Congress Ave	0.37mi	4/3.0	3,705 (+14%)	16mo	$275,000	$74	42
21 Poplar St	0.54mi	5/3.0 (+1)	3,705 (+14%)	2mo	$399,000	$108	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.26×
• Total profit: $41,781
• Equity at exit: $209,618

10-year hold

• IRR: 9.0%
• Equity multiple: 2.14×
• Total profit: $184,403
• Equity at exit: $288,055

Cash invested: $162,120 (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 06706

• Home prices YoY: 0.5%
• Active inventory: 42
• Price-to-rent: 37.3×

Monthly cashflow live

• Estimated rent: $5,176 high
• Mortgage (P&I): −$3,036
• Tax from tax record: −$501 /mo · $6,012/yr
• Insurance: −$241
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,087
• Net cashflow: $310

Break-even live

Break-even rent $4,783

Max offer price $579,000

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	—	$5,176
Total (4 units)			$5,176

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: $144,750
• Closing costs: $17,370
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
69 W Liberty St Unit 2 Waterbury, CT	3.0	1.0	2822	$1,750	$0.62	43d	1	0.03mi
69 W Liberty St Waterbury, CT	3.0	1.0	2822	$1,800	$0.64	43d	1	0.03mi
155 Congress Ave Unit 2 Waterbury, CT	3.0	1.0	3228	$1,750	$0.54	23d	1	0.32mi
73 Lounsbury St Unit 3 Waterbury, CT	3.0	1.0	3096	$1,600	$0.52	43d	1	0.48mi
73 Lounsbury St Unit 3 Waterbury, CT	3.0	1.0	3096	$1,600	$0.52	18d	1	0.48mi
124 Southview St Unit 1 Waterbury, CT	3.0	1.0	2980	$1,600	$0.54	43d	1	0.56mi
324 Congress Ave Unit 2 Waterbury, CT	3.0	1.0	2760	$2,000	$0.72	43d	1	0.59mi
218 Charles St Waterbury, CT	4.0	1.5	2600	$2,800	$1.08	43d	1	0.68mi
103 Walnut St Unit 3rd Floor Waterbury, CT	3.0	1.0	3157	$1,650	$0.52	43d	1	0.81mi
124 Central Ave Unit 3 Waterbury, CT	4.0	1.0	3718	$1,750	$0.47	14d	1	0.95mi
36 Vermont St Unit 2 Floor Waterbury, CT	3.0	1.0	2892	$1,800	$0.62	23d	1	0.97mi
36 Vermont St Unit 3 Floor Waterbury, CT	3.0	1.0	2892	$2,000	$0.69	43d	1	0.97mi
29 Silver St Unit 2 Waterbury, CT	3.0	1.0	3625	$1,750	$0.48	23d	1	1.01mi
27 Waterville St Unit 3 Waterbury, CT	3.0	1.0	3195	$1,500	$0.47	3d	1	1.08mi
72 Burton St Waterbury, CT	3.0	1.0	2600	$1,650	$0.63	14d	1	1.13mi
205 Cooke St Unit 1 Waterbury, CT	3.0	1.0	3439	$1,900	$0.55	3d	1	1.14mi
180 Willow St Unit 1st FL Waterbury, CT	3.0	1.0	4160	$1,600	$0.38	14d	1	1.15mi
15 Ridgewood St Unit 2 Waterbury, CT	3.0	1.0	3229	$1,600	$0.50	44d	1	1.20mi
15 Ridgewood St Unit 2 Waterbury, CT	3.0	1.0	3229	$1,600	$0.50	23d	1	1.20mi
260 Pine St Unit 3 Waterbury, CT	3.0	1.0	3361	$1,550	$0.46	43d	1	1.25mi
79 Robbins St Fl 2 Waterbury, CT	3.0	1.0	3960	$1,800	$0.45	43d	1	1.26mi
176 Pearl St Unit 3rd Floor Waterbury, CT	4.0	1.0	3393	$2,000	$0.59	3d	1	1.29mi
16 Arch St Unit 3 Waterbury, CT	3.0	1.0	3282	$2,200	$0.67	21d	1	1.30mi

Listing history 2 events

1. 2026-03-20
   status Under Contract
2. 2026-03-12
   listed $579,000 Active

ⓘ 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: $6,012 · $501/mo
• Projected year-2 tax: $9,201 · $767/mo
• Expected delta: +$3,189/yr (+$266/mo · 53.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $62,112
• − Mortgage interest: −$32,433
• − Property taxes: −$6,012
• − Insurance: −$2,895
• − Repairs & maintenance: −$4,969
• − Management: −$4,969
• − Depreciation: −$16,844
• Taxable loss: −$6,010
• Est. tax savings @ 24.0%: +$1,442
• After-tax cash flow: $5,168/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): 15,551
• Household income: $52,242
• Rent vs Own: 59.2% rent · 40.8% own
• Severe rent burden: 801.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 35% White 31% Black 25% Two or more races 12% Asian 3%
• Hispanic origin (detail): Puerto Rican 25% Dominican 4%
• Common ancestry: Lithuanian 3% Estonian 2% Romanian 1%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 60% English-only · Spanish 27% Other Indo-European 11% Other Asian/Pacific 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: ▲ 1.39%
• Current HPI: 309.8467
• Rent YoY: —
• 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

2 events — show timeline

• 2026-03-20 Pending — Smart MLS
• 2026-03-12 Listed $579,000 Smart MLS

Property tax history

+8.3%/yr

Latest (2023): $6,012 · +147.7% YoY. Source: county tax records.