350 S Main St · Naugatuck, CT 06770

$439,000

5 bd · 2.0 ba · 2,432 sqft · MultiFamily public records · 10 Days on market

Built 1875 0.35 ac lot Est $409k · 7% over

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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 +13.7/30.0
• DSCR +4.1/10.0
• ARV discount +4.1/15.0
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• 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 MLS

Fantastic opportunity to own this income producing two- family home. Both units have three bedrooms and one full bathroom. First floor is leased for $2,100.00 per month, lease expires September 2024.Second floor is rented for $2,100.00 and is currently on month-to-month basis. Lower level has a specious front porch, back patio, use of full basement with washer and dryer, hardwood floors in living room, new luxury laminate in bedrooms and many other unique features and upgrades. Second floor was recently remodeled and has new appliances, luxury laminate flooring, new kitchen cabinets, granite countertops, new bathroom, lighting, electrical, heating plumbing, washer/dryer hook-up in unit and more. Three car garage is located on the side of the home and has additional upstairs storage area. Picturesque garden has matured fruit trees, lily pond, wildflowers and stone walkways. There is also a large shed for gardening tools tucked in the back area of garden. This home is absolutely a must see; located in close proximity to major highways and downtown Naugatuck. Home to be sold in as is condition. Seller will credit $5,000.00 to buyer at closing.

Key facts

• Private road
• Separate utilities
• Beautiful garden

Tags

• PRIVATE ROAD
• BEAUTIFUL GARDEN
• SERENE POND
• UPDATED KITCHENS
• SEPARATE UTILITIES
• AMPLE OFF-STREET PARKING

Property features AI

Exterior

• Utilities: Public water connection; Septic sewage system; Hot water described as other
• Home design: Multi-family (2-family) property
• Construction: Frame construction; Concrete foundation; Asphalt shingle gable roof
• Exterior features: Secluded, lightly wooded, level lot on a cul-de-sac; Vinyl siding

Interior

• Bedrooms: 6 total bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heat (oil-fired); Oil tank located in the basement; Hot water heating system
• Interior features: Full, unfinished basement; Total of 10 rooms; Multi-family layout with 2 separate units
• Laundry & utility: Basement laundry hook-ups; One unit includes in-unit laundry hook-up

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $439k.

Deal economics

• At list price, monthly cash flow is $31 ($373/yr) — positive. Per door: $16/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 $380k (13.4% below list).
• Recommended offer: $380k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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); 113 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $3,802/mo this rent would consume 47% of the median local household income ($96k/yr) (locally 788% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $370k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1875 — 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 $380,200 (13.4% 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 1875 — 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. 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?
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: 0.87% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.30%
• DSCR: 1.01
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $408,576
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Ward St	0.31mi	5/2.0	2,526 (+4%)	7mo	$425,000	$168	73
396 S Main St	0.09mi	6/3.0 (+1)	2,541 (+4%)	12mo	$380,000	$150	70
150 Scott St	0.58mi	4/2.0 (-1)	2,416 (-1%)	1mo	$294,900	$122	66
48 High St	0.21mi	4/4.0 (-1)	2,288 (-6%)	5mo	$300,000	$131	63
69 Johnson St	0.48mi	5/3.0	2,547 (+5%)	4mo	$410,000	$161	62
66 Oak St	0.43mi	6/2.0 (+1)	2,298 (-6%)	6mo	$335,000	$146	61
53 Meadow St	0.47mi	6/3.0 (+1)	2,268 (-7%)	7mo	$455,000	$201	52
8 Cliff St	0.67mi	5/2.5	2,302 (-5%)	11mo	$485,000	$211	49
33 Aetna St	0.65mi	4/2.0 (-1)	2,217 (-9%)	8mo	$335,000	$151	43
27 Frederick St	0.68mi	4/2.0 (-1)	2,231 (-8%)	16mo	$390,000	$175	36
53 Le Clair Ct	0.69mi	6/2.0 (+1)	2,080 (-14%)	5mo	$480,250	$231	35
195 Meadow St	0.62mi	4/2.0 (-1)	2,083 (-14%)	17mo	$395,000	$190	28

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 · 6.23% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.54×
• Total profit: $-56,382
• Equity at exit: $65,456

10-year hold

• IRR: 1.0%
• Equity multiple: 1.08×
• Total profit: $9,471
• Equity at exit: $37,957

Cash invested: $122,920 (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: 113
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $3,802 high
• Mortgage (P&I): −$2,302
• Tax from tax record: −$487 /mo · $5,849/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $31

Break-even live

Break-even rent $3,763

Max offer price $439,000

Occupancy floor 94%

Sensitivity live

Price	-10% $280	-5% $155	+0% $31	+5% $-93	+10% $-217
Rent	-10% $-269	-5% $-119	+0% $31	+5% $181	+10% $331
Rate	-1.0pp $252	-0.5pp $143	base $31	+0.5pp $-83	+1.0pp $-198

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,802
Total (2 units)			$3,802

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: $109,750
• Closing costs: $13,170
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Tyler Hill Rd Naugatuck, CT	4.0	2.5	2388	$3,800	$1.59	4d	1	1.36mi

Listing history 7 events

1. 2026-06-22
   days on market $439,000 Active 10 DOM
2. 2026-06-18
   days on market $439,000 Active 7 DOM
3. 2026-06-17
   days on market $439,000 Active 6 DOM
4. 2026-06-16
   days on market $439,000 Active 5 DOM
5. 2026-06-15
   days on market $439,000 Active 4 DOM
6. 2026-06-14
   remarks 699-char remark
7. 2026-06-14
   listed $439,000 Active 2 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: $5,849 · $487/mo
• Projected year-2 tax: $7,622 · $635/mo
• Expected delta: +$1,773/yr (+$148/mo · 30.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥97°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: $45,624
• − Mortgage interest: −$24,591
• − Property taxes: −$5,849
• − Insurance: −$2,195
• − Repairs & maintenance: −$3,650
• − Management: −$3,650
• − Depreciation: −$12,771
• Taxable loss: −$7,082
• Est. tax savings @ 24.0%: +$1,700
• After-tax cash flow: $2,073/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

+362.1% since first listed

15 events — show timeline

• 2026-06-10 Listed $439,000 Smart MLS
• 2025-08-11 Listing Removed — Smart MLS
• 2025-08-05 Relisted — Smart MLS
• 2025-07-21 Pending — Smart MLS
• 2025-06-13 Listed $410,000 Smart MLS
• 2023-12-28 Sold (MLS) $370,000 Smart MLS
• 2023-11-26 Pending — Smart MLS
• 2023-10-20 Price Changed $370,000 Smart MLS
• 2023-09-05 Listed $375,000 Smart MLS
• 2022-08-01 Sold (Public Records) $205,000 Public Records
• 2022-07-22 Sold (MLS) $205,000 Smart MLS
• 2022-06-13 Contingent — Smart MLS
• 2022-06-08 Listed $150,000 Smart MLS
• 2022-06-06 Coming Soon $150,000 Smart MLS
• 2000-05-26 Sold (Public Records) $95,000 Public Records

Property tax history

+2.9%/yr

Latest (2022): $5,849 · +0.0% YoY. Source: county tax records.