83 Meadow St · Naugatuck, CT 06770

$360,000

12 bd · 12.0 ba · 2,705 sqft · MultiFamily · 36 Days on market

Built 1900 Poor condition 3,484 sqft lot $133/sqft · 17% below area Est $436k · 17% under ↓ 9% since listing

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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
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Opportunity knocks! This multi-family property offers tremendous potential for investors, contractors, or owner-occupants looking to build equity through renovation and updates. The property is in need of significant updating, but its flexible layout and income-producing possibilities make it a rare value-add opportunity. Currently configured with three residential units, the property also features a first-floor office space that could potentially be converted into an additional apartment, creating the possibility for four units under one roof (buyer to conduct their own due diligence regarding approvals and zoning requirements). Conveniently located close to downtown, shopping, restaurants

Key facts

• Flexible layout
• Shopping
• Close to downtown

Tags

• FLEXIBLE LAYOUT
• INCOME-PRODUCING POSSIBILITIES
• FIRST-FLOOR OFFICE SPACE
• MULTIPLE RESIDENTIAL UNITS
• CLOSE TO DOWNTOWN
• SHOPPING

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Concrete foundation; Built with typical multi-family design
• Exterior features: Corner lot; Vinyl siding; Asphalt shingle roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating; Radiator heating; Zoned heating; Heating fuel: Electric and Oil; Fuel tank located in basement
• Interior features: Full basement with concrete floor; Total of 9 rooms

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/3.0-bath units multifamily listed at $360k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $4k ($44k/yr) — positive. Per door: $910/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $360k).
• Recommended offer: $349k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.4% 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); 112 active listings in the ZIP; solid renter incomes; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $7,755/mo this rent would consume 97% 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 $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $101k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($349k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $349,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.15% ✓
• Cap rate: 18.42%
• Cash-on-cash: 43.32%
• DSCR: 2.93
• GRM: 3.9

CMA / ARV

• ARV (median comp): $435,740
• List price: $360,000
• Delta: -17.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 43.8%
• Equity multiple: 2.98×
• Total profit: $199,542
• Equity at exit: $53,677

10-year hold

• IRR: 51.3%
• Equity multiple: 6.82×
• Total profit: $586,736
• Equity at exit: $31,126

Cash invested: $100,800 (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: 15.5×

Monthly cashflow live

• Estimated rent: $7,755 medium
• Mortgage (P&I): −$1,888
• Tax est. 1.5%: −$450 /mo · $5,400/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,629
• Net cashflow: $3,639

Break-even live

Break-even rent $3,149

Max offer price $360,000

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	3	$7,756
Total (4 units)			$7,755

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-17
   status $360,000 Under Contract 36 DOM
2. 2026-06-17
   days on market $360,000 Active 36 DOM
3. 2026-06-16
   days on market $360,000 Active 35 DOM
4. 2026-06-15
   days on market $360,000 Active 34 DOM
5. 2026-06-14
   days on market $360,000 Active 32 DOM
6. 2026-06-10
   days on market $360,000 Active 29 DOM
7. 2026-06-09
   days on market $360,000 Active 28 DOM
8. 2026-06-08
   days on market $360,000 Active 27 DOM
9. 2026-06-07
   days on market $360,000 Active 26 DOM
10. 2026-06-05
    days on market $360,000 Active 23 DOM
11. 2026-06-03
    days on market $360,000 Active 22 DOM
12. 2026-06-03
    pricedays on market $360,000 Active 21 DOM
13. 2026-06-01
    days on market $395,000 Active 20 DOM
14. 2026-05-31
    days on market $395,000 Active 19 DOM
15. 2026-05-12
    listed $395,000 Active 1319-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $93,060
• − Mortgage interest: −$20,166
• − Property taxes: −$5,400
• − Insurance: −$1,800
• − Repairs & maintenance: −$7,445
• − Management: −$7,445
• − Depreciation: −$10,473
• Taxable income: $40,332
• Est. tax owed @ 24.0%: −$9,680
• After-tax cash flow: $33,983/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive renovations to bring it up to modern standards, significantly increasing its value for both resale and rental purposes.

Repairs flagged

• Major kitchen cabinets — severely outdated and in poor condition
• Major kitchen appliances — outdated and in poor condition
• Major bathroom fixtures — outdated and in poor condition
• Major flooring — dated and worn-out
• Major interior walls/paint — dated and in poor condition
• Major landscaping — bare lawn and lack of landscaping

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen will increase both resale and rental value
• Both bathroom renovation — modernizing the bathrooms will increase both resale and rental value
• Both landscaping — improving the landscaping will increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely outdated and in poor condition	Major	$15,000–50,000
kitchen appliances · outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · outdated and in poor condition	Major	$15,000–50,000
flooring · dated and worn-out	Major	$15,000–50,000
interior walls/paint · dated and in poor condition	Major	$15,000–50,000
landscaping · bare lawn and lack of landscaping	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen will increase both resale and rental value ↑
• Both bathroom renovation — modernizing the bathrooms will increase both resale and rental value ↑
• Both landscaping — improving the landscaping will increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-8.9% since first listed

3 events — show timeline

• 2026-06-17 Pending — Smart MLS
• 2026-06-02 Price Changed $360,000 Smart MLS
• 2026-05-12 Listed $395,000 Smart MLS