180 Prospect St · Waterbury, CT 06710

$279,900

4 bd · 4.5 ba · 3,503 sqft · MultiFamily public records · 7 Days on market

Built 1850 0.35 ac lot Est $252k · 11% over

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Why this score? — see what drove the C- 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 +23.8/30.0
• DSCR +7.7/10.0
• 1% rule +7.0/10.0
• Livability +4.0/5.0
• ARV discount +2.6/15.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.5/10.0
• 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

Opportunity awaits at 180 Prospect St in Waterbury, a spacious two-family property offering over 3,500 square feet of potential. This large Multi-family home features two units with generous room sizes, classic hardwood floors, and a flexible layout ideal for investors, owner-occupants, or anyone looking to renovate and build equity. With 3,503 square feet of living space, the property offers ample room to reimagine and update while preserving its original character. A 2-car garage provides additional convenience and storage, while the size and layout of the home present strong possibilities for rental income or multi-generational living. This property does require renovation and is priced

Key facts

• Ample room
• Flexible layout
• Two family property

Tags

• TWO FAMILY PROPERTY
• CLASSIC HARDWOOD FLOORS
• FLEXIBLE LAYOUT
• AMPLE ROOM
• 2 CAR GARAGE
• MULTI GENERATIONAL LIVING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.2-bath units multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive. Per door: $269/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Cap rate 8.6% 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 soft (-0.4%/yr); 32 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $3,371/mo this rent would consume 109% of the median local household income ($37k/yr) (locally 856% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $279,900

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 1850 — 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. 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.
8. 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.
9. 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: 1.20% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.24%
• DSCR: 1.37
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $252,216
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 Chestnut Ave	0.43mi	5/3.0 (+1)	3,485 (-0%)	16mo	$250,000	$72	54

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

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.73×
• Total profit: $-20,777
• Equity at exit: $41,734

10-year hold

• IRR: -2.5%
• Equity multiple: 0.85×
• Total profit: $-11,435
• Equity at exit: $24,201

Cash invested: $78,372 (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 06710

• Home prices YoY: -8.1%
• Rents YoY: -0.4%
• Active inventory: 32
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $3,371 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$540 /mo · $6,483/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$708
• Net cashflow: $538

Break-even live

Break-even rent $2,689

Max offer price $279,900

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$3,370
Total (2 units)			$3,371

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Cooke St Unit 1 Waterbury, CT	3.0	1.0	3439	$1,900	$0.55	3d	1	0.11mi
124 Central Ave Unit 3 Waterbury, CT	4.0	1.0	3718	$1,750	$0.47	14d	1	0.18mi
260 Pine St Unit 3 Waterbury, CT	3.0	1.0	3361	$1,550	$0.46	43d	1	0.23mi
176 Pearl St Unit 3rd Floor Waterbury, CT	4.0	1.0	3393	$2,000	$0.59	3d	1	0.26mi
72 Burton St Waterbury, CT	3.0	1.0	2600	$1,650	$0.63	14d	1	0.27mi
15 Ridgewood St Unit 2 Waterbury, CT	3.0	1.0	3229	$1,600	$0.50	44d	1	0.39mi
15 Ridgewood St Unit 2 Waterbury, CT	3.0	1.0	3229	$1,600	$0.50	23d	1	0.39mi
180 Willow St Unit 1st FL Waterbury, CT	3.0	1.0	4160	$1,600	$0.38	14d	1	0.40mi
16 Arch St Unit 3 Waterbury, CT	3.0	1.0	3282	$2,200	$0.67	21d	1	0.45mi
27 Waterville St Unit 3 Waterbury, CT	3.0	1.0	3195	$1,500	$0.47	3d	1	0.51mi
103 Walnut St Unit 3rd Floor Waterbury, CT	3.0	1.0	3157	$1,650	$0.52	43d	1	0.63mi
1105 N Main St Unit 1 Waterbury, CT	4.0	3.0	3948	$2,300	$0.58	43d	1	0.72mi
1105 N Main St Unit 3 Waterbury, CT	4.0	1.0	3948	$2,000	$0.51	21d	1	0.72mi
36 Vermont St Unit 3 Floor Waterbury, CT	3.0	1.0	2892	$2,000	$0.69	43d	1	0.73mi
36 Vermont St Unit 2 Floor Waterbury, CT	3.0	1.0	2892	$1,800	$0.62	23d	1	0.73mi
249 Lincoln St Waterbury, CT	3.0	1.0	4458	$1,800	$0.40	3d	1	0.80mi
69 W Liberty St Waterbury, CT	3.0	1.0	2822	$1,800	$0.64	43d	1	1.00mi
69 W Liberty St Unit 2 Waterbury, CT	3.0	1.0	2822	$1,750	$0.62	43d	1	1.00mi
137 Clinton St Unit 2 Waterbury, CT	3.0	1.0	2694	$1,850	$0.69	43d	1	1.02mi
79 Robbins St Fl 2 Waterbury, CT	3.0	1.0	3960	$1,800	$0.45	43d	1	1.04mi
155 Congress Ave Unit 2 Waterbury, CT	3.0	1.0	3228	$1,750	$0.54	23d	1	1.12mi
29 Silver St Unit 2 Waterbury, CT	3.0	1.0	3625	$1,750	$0.48	23d	1	1.43mi
73 Lounsbury St Unit 3 Waterbury, CT	3.0	1.0	3096	$1,600	$0.52	19d	1	1.48mi
73 Lounsbury St Unit 3 Waterbury, CT	3.0	1.0	3096	$1,600	$0.52	43d	1	1.48mi

Listing history 2 events

1. 2026-03-19
   status Under Contract
2. 2026-03-12
   listed $279,900 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: $6,483 · $540/mo
• Projected year-2 tax: $6,483 · $540/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 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: $40,452
• − Mortgage interest: −$15,679
• − Property taxes: −$6,483
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,236
• − Management: −$3,236
• − Depreciation: −$8,143
• Taxable income: $2,276
• Est. tax owed @ 24.0%: −$546
• After-tax cash flow: $5,914/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): 9,942
• Household income: $37,191
• Rent vs Own: 66.3% rent · 33.7% own
• Severe rent burden: 856.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Hispanic / Latino 33% Black 29% White 26% Two or more races 16% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 17% Cuban 2% Dominican 9%
• Common ancestry: Romanian 2% Italian 2% Estonian 2%
• Foreign-born: 16% · Canada, Mexico
• Languages at home: 67% English-only · Spanish 27% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -26.17%
• Current HPI: 296.1252
• Rent YoY: ▼ -0.39%
• 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

• 2026-03-19 Pending — Smart MLS
• 2026-03-12 Listed $279,900 Smart MLS

Property tax history

+8.4%/yr

Latest (2023): $6,483 · +152.4% YoY. Source: county tax records.