591 Rubber Ave · Naugatuck, CT 06770

$249,900

2 bd · 2.0 ba · 1,590 sqft · MultiFamily public records · 5 Days on market

Built 1810 0.45 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

New to market 2 family with commercial possibilities. First floor with 2 brs set up as 1 br & dining room, eat-in kitchen. Living room with fireplace. Wide plank hardwood flooring, bathroom with laundry hookup. Second floor with 2 brs, eat-in kitchen, 1 bathroom. Set on level lot with 2 car garage. "As is" . Cash or rehab loan only. Also listed as commercial MLS #24174514

Key facts

• Level lot
• Eat-in kitchen
• 0.45 acre lot

Tags

• EAT-IN KITCHEN
• LIVING ROOM WITH FIREPLACE
• WIDE PLANK HARDWOOD FLOORING
• LEVEL LOT

Property features AI

Exterior

• Parking: Under-house garage; Two-car garage
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family 2-family property; Two total residential units
• Construction: Frame construction; Stone foundation; Asphalt shingle roof; Shingle and wood siding; Built with brown exterior finish
• Exterior features: Level lot; Brown exterior

Interior

• Bedrooms: Four bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot water heating (oil-fired); Fuel tank located in basement; Hot water heating equipment described as 'Other'
• Interior features: Full, unfinished basement; One fireplace; Eight total rooms

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive. Per door: $274/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 11.1% vs local median 3.4% in Naugatuck — 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 (#42 in CT, #2,997 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute D-.
• Naugatuck School District (suburban): math 32% / reading 43% proficiency, ranked #105 of 153 in CT (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Naugatuck High School (math 20% / reading 44%, grade F, #129 of 194 statewide, top 69%, 1,288 students, 52% FRL) — zoned schools average 52% FRL vs 35% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.2%/yr); 112 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• This rent runs 44% of the median local income ($96k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $70k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1810 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 8→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,900

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 1810 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.40% ✓
• Cap rate: 11.13%
• Cash-on-cash: 17.28%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.23% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $6,435
• Equity at exit: $37,261

10-year hold

• IRR: 15.4%
• Equity multiple: 2.48×
• Total profit: $103,356
• Equity at exit: $21,607

Cash invested: $69,972 (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 06770

• Home prices YoY: -33.3%
• Rents YoY: 6.2%
• Active inventory: 112
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $3,497 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$340 /mo · $4,086/yr
• Insurance: −$104
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$734
• Net cashflow: $547

Break-even live

Break-even rent $2,804

Max offer price $249,900

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,496
Total (2 units)			$3,497

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
684 Field St Naugatuck, CT	3.0	1.5	1718	$2,200	$1.28	23d	1	0.42mi
675 Millville Ave Naugatuck, CT	2.0	1.5	1472	$2,100	$1.43	3d	1	0.44mi
303 Millville Ave Naugatuck, CT	3.0	2.0	1518	$2,500	$1.65	11d	1	0.60mi
303 Millville Ave Naugatuck, CT	3.0	1.5	1518	$2,500	$1.65	43d	1	0.60mi
8 Garden St Naugatuck, CT	3.0	1.0	1401	$2,000	$1.43	43d	1	0.71mi
33 Pond St Naugatuck, CT	2.0	1.0	1058	$1,700	$1.61	43d	1	0.85mi
304 Hillside Ave Naugatuck, CT	2.0	1.0	1088	$1,650	$1.52	21d	1	1.02mi
223 Meadow St Naugatuck, CT	2.0–3.0	1.0–1.5	1500	$1,995	$1.33	2d	3	1.02mi
46 Carroll St Unit left side Naugatuck, CT	2.0	2.0	1632	$1,575	$0.97	23d	1	1.33mi
550 High St Unit 2 Naugatuck, CT	2.0	1.5	1100	$2,500	$2.27	43d	1	1.40mi

Listing history 2 events

1. 2026-05-13
   status Under Contract
2. 2026-05-08
   listed $249,900 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: $4,086 · $340/mo
• Projected year-2 tax: $4,717 · $393/mo
• Expected delta: +$631/yr (+$53/mo · 15.4%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 8 d/yr ≥97°F today · 17 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,964
• − Mortgage interest: −$13,998
• − Property taxes: −$4,086
• − Insurance: −$6,775
• − Repairs & maintenance: −$3,357
• − Management: −$3,357
• − Depreciation: −$7,270
• Taxable income: $3,121
• Est. tax owed @ 24.0%: −$749
• After-tax cash flow: $5,816/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: Naugatuck School District
• NCES district ID: 0902640
• Math proficiency: 32% ▼ -13.00%
• Reading proficiency: 43% ▼ -11.00%
• Median HH income: $61,060
• Composite: 33.44/100
• National rank: #5463
• State rank: #105 of 153 in CT

Livability — Naugatuck

• Score: 77/100
• State rank: #42
• US rank: #2997

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Naugatuck, CT
• County: New Haven County · 688,236 people
• City population: 31,823
• Metro: New Haven-Milford, CT
• Population (ZIP): 31,823
• Household income: $96,208
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 788.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 61% Hispanic / Latino 17% Two or more races 12% Black 11% Asian 4%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Romanian 7% Russian 6% Lithuanian 4%
• Foreign-born: 17% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 10% Other Indo-European 7% Other Asian/Pacific 2%

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: ▼ -108.73%
• Current HPI: 217.6177
• Rent YoY: ▲ 6.23%
• 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

• 2026-05-13 Pending — Smart MLS
• 2026-05-08 Listed $249,900 Smart MLS

Property tax history

+2.6%/yr

Latest (2022): $4,086 · +0.0% YoY. Source: county tax records.