315 Congress Ave Unit C · Waterbury, CT 06708

$116,667

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

Built 1986

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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 +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 MLS

Investor potential--town plot area--open floor plan. Deck 5x14.

Key facts

• Garage
• Built 1986
• Listed 10 days

Property features AI

Finance

• Other: Property is one of 5 units in the building/complex
• HOA & community: No condo association (pets allowed)

Exterior

• Parking: Covered garage; 1 garage space
• Utilities: Public water connected; Public sewer connected; Electric hot water (30 gallon tank)
• 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 bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating; Electric heat
• Interior features: Total of 5 rooms; Two levels in unit; Has attic with access via hatch; 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.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $50k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $117k implies a 112% gain — meaningful room to come down on a strong offer.

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
• 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 347-char remark
7. 2026-06-13
   days on market $116,667 Active 4 DOM
8. 2026-06-10
   pricedays on market $116,667 Active 2 DOM
9. 2026-06-09
   remarks 279-char remark
10. 2026-06-09
    listed $166,667 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

+177.8% since first listed

4 events — show timeline

• 2026-06-08 Listed $166,667 Smart MLS
• 2006-09-01 Sold (Public Records) $55,000 Public Records
• 2006-08-31 Sold (MLS) $55,000 Smart MLS
• 2006-01-18 Listed $60,000 Smart MLS

Property tax history

+7.3%/yr

Latest (2023): $3,118 · +130.5% YoY. Source: county tax records.