73 Elmwood Ave · Waterbury, CT 06710

$299,999

11 bd · 3.0 ba · 3,800 sqft · MultiFamily public records · 62 Days on market

Built 1908 8,276 sqft lot Est $483k · 38% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• 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

Investment opportunity in downtown Waterbury. This is a two family duplex with a total of 11 bedrooms. Sale is subject to probate approval. Property is being sold in "AS IS" condition.

Key facts

• 8,276 sq ft lot
• 8 parking spots
• Built 1908

Property features AI

Exterior

• Parking: Driveway; Total 8 parking spaces
• Utilities: Public water connected; Public sewer connected; Electric hot water
• Home design: Multi-family property (2-family)
• Construction: Frame construction; Stone foundation; Asphalt shingle roof; Blue-gray exterior siding
• Exterior features: City views; Level lot; Paved driveway; Off-street parking

Interior

• Bedrooms: 11 total bedrooms
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Hot air heating; Natural gas fuel; Electric hot water
• Interior features: 17 total rooms; Home automation: electrical outlets, lighting controls, locks, thermostats; 2 fireplaces; Full unfinished basement with interior access; Property configured as 2 units (multi-family)

What this means for you Summary

Snapshot

• This is a 2 × 5.5-bed/1.5-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $885/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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: 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.
• Zoned schools: Driggs School (math 8% / reading 12%, grade F, #512 of 553 statewide, top 94%, 462 students, 78% FRL).
• Market conditions: Rents soft (-0.4%/yr); 32 active listings in the ZIP; lower-income renter base — watch delinquency; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $4,793/mo this rent would consume 155% 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 $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $84k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.60% ✓
• Cap rate: 13.37%
• Cash-on-cash: 25.28%
• DSCR: 2.12
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $482,600
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Plaza Ave	0.14mi	11/3.0	3,761 (-1%)	3mo	$670,000	$178	90
56 Wildwood Ave	0.07mi	12/3.5 (+1)	3,849 (+1%)	0mo	$465,000	$121	87
55 Plaza Ave	0.17mi	10/3.0 (-1)	3,733 (-2%)	3mo	$475,000	$127	82
51 Wildwood Ave	0.05mi	12/3.0 (+1)	4,091 (+8%)	15mo	$407,000	$99	68
484 Waterville St	0.24mi	10/4.0 (-1)	4,074 (+7%)	1mo	$480,000	$118	67
11 Ridgewood St	0.38mi	11/3.0	3,808 (+0%)	23mo	$400,000	$105	63
215 Woodlawn Ter	0.33mi	10/3.0 (-1)	3,410 (-10%)	7mo	$473,000	$139	57
233 Cooke St	0.59mi	11/3.0	3,674 (-3%)	20mo	$477,500	$130	51
14 Ridgewood St	0.35mi	10/3.0 (-1)	3,480 (-8%)	20mo	$380,000	$109	48
26 Ridgewood St	0.35mi	10/5.5 (-1)	3,415 (-10%)	6mo	$435,000	$127	46

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: 15.4%
• Equity multiple: 1.60×
• Total profit: $50,068
• Equity at exit: $44,731

10-year hold

• IRR: 21.8%
• Equity multiple: 2.60×
• Total profit: $134,574
• Equity at exit: $25,938

Cash invested: $84,000 (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: 10.4×

Monthly cashflow live

• Estimated rent: $4,793 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$319 /mo · $3,827/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,007
• Net cashflow: $1,769

Break-even live

Break-even rent $2,553

Max offer price $299,999

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	5.5	1.5	$4,792
Total (2 units)			$4,793

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-03
   statusdays on market $299,999 Under Contract 62 DOM
2. 2026-06-01
   days on market $299,999 Under Contract - Continue to Show 61 DOM
3. 2026-05-31
   days on market $299,999 Under Contract - Continue to Show 60 DOM
4. 2026-04-16
   historical Under Contract - Continue to Show
5. 2026-04-02
   listed $299,999 Active
6. 2026-03-27
   historical $299,999

ⓘ 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: $3,827 · $319/mo
• Projected year-2 tax: $5,123 · $427/mo
• Expected delta: +$1,296/yr (+$108/mo · 33.9%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,516
• − Mortgage interest: −$16,805
• − Property taxes: −$3,827
• − Insurance: −$1,500
• − Repairs & maintenance: −$4,601
• − Management: −$4,601
• − Depreciation: −$8,727
• Taxable income: $17,455
• Est. tax owed @ 24.0%: −$4,189
• After-tax cash flow: $17,043/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

+0.0% since first listed

3 events — show timeline

• 2026-04-16 Contingent — Smart MLS
• 2026-04-02 Listed $299,999 Smart MLS
• 2026-03-27 Coming Soon $299,999 Smart MLS

Property tax history

+7.8%/yr

Latest (2023): $3,827 · +135.8% YoY. Source: county tax records.