314 Porter Ave · Waterbury, CT 06762

$349,900

3 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 58 Days on market

Built 1941 0.34 ac lot Est $393k · 11% under

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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 +12.8/30.0
• ARV discount +12.4/15.0
• Schools +5.4/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A classic Middlebury Cape Cod offering strong potential. This 3bedroom, 2bath home sits on a 0.34acre lot and features 1,440 sq. ft. of living space plus a 900 sq. ft. basement. With an average physical condition rating and many original features, it's a handyman's dream-perfect for those looking to update, customize, and build equity. Traditional gableroof styling, aluminum siding, and a two story layout provide a solid foundation for renovation, with opportunities to refresh interiors, modernize systems, and enhance exterior elements. A great chance to transform a welllocated property into a personalized home in desirable Middlebury.

Key facts

• 0.34 acre lot
• Built 1941
• Listed 58 days

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Fuel tank located in basement
• Home design: Single-family home
• Construction: Frame construction; Concrete foundation
• Exterior features: Level lot; Aluminum siding; Gable roof

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating; Oil-fired heat; 50-gallon hot water tank (in basement)
• Interior features: 7 total rooms; Full basement; Walk-up attic

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-30 ($-356/yr) — negative.
• To cash-flow at today's rent, offer at most $345k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $308k (12.1% below list).
• Recommended offer: $308k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Regional School District 15 (suburban): math 56% / reading 64% proficiency, ranked #46 of 153 in CT (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 4% free/reduced lunch — higher-income household profile.
• Market conditions: 60 active listings in the ZIP; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $145k; list at $350k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $307,506 (12.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1941 — 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. 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?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $393,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314 Porter Ave	0.00mi	3/2.0	1,440 (0%)	1mo	$300,000	$208	99
115 Porter Ave	0.38mi	3/2.0	1,498 (+4%)	7mo	$409,000	$273	70
377 Porter Ave	0.12mi	3/2.0	1,545 (+7%)	15mo	$432,500	$280	69
197 White Ave	0.30mi	3/2.0	1,494 (+4%)	15mo	$410,000	$274	68
18 Freedom Rd	0.73mi	3/1.5	1,492 (+4%)	1mo	$495,650	$332	57
713 Whittemore Rd	0.61mi	3/2.0	1,476 (+2%)	13mo	$505,000	$342	57
28 Maple Dr	0.33mi	3/3.5	1,596 (+11%)	8mo	$435,000	$273	54
70 Steinmann Ave	0.45mi	4/2.0 (+1)	1,486 (+3%)	20mo	$330,000	$222	52
271 Shadduck Rd	0.67mi	3/1.5	1,288 (-11%)	1mo	$435,000	$338	48
225 Whittemore Rd	0.40mi	3/1.0	1,630 (+13%)	9mo	$385,000	$236	48
93 Fenn Rd	0.64mi	3/1.5	1,636 (+14%)	8mo	$420,000	$257	38
10 Yale Ave	0.54mi	3/1.5	1,640 (+14%)	15mo	$390,000	$238	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-58,516
• Equity at exit: $52,171

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-53,097
• Equity at exit: $30,253

Cash invested: $97,972 (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 06762

• Home prices YoY: -22.6%
• Active inventory: 60
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,075 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$478 /mo · $5,739/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $-30

Break-even live

Break-even rent $3,113

Max offer price $344,661

Occupancy floor 96%

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-23
   status Under Contract
2. 2026-04-06
   historical Under Contract - Continue to Show
3. 2026-03-27
   listed $349,900 Active
4. 2026-03-25
   historical $349,900
5. 1988-03-03
   soldstatus $145,000

ⓘ 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: $5,739 · $478/mo
• Projected year-2 tax: $6,613 · $551/mo
• Expected delta: +$874/yr (+$73/mo · 15.2%)

ⓘ 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 4/10 Moderate 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,901
• − Mortgage interest: −$19,600
• − Property taxes: −$5,739
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,952
• − Management: −$2,952
• − Depreciation: −$10,179
• Taxable loss: −$6,271
• Est. tax savings @ 24.0%: +$1,505
• After-tax cash flow: $1,149/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: Regional School District 15
• NCES district ID: 0903537
• Math proficiency: 56% ▼ -15.00%
• Reading proficiency: 64% ▼ -11.00%
• Median HH income: $84,697
• Composite: 54.36/100
• National rank: #1361
• State rank: #46 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

• City population: 115,012
• Population (ZIP): 7,736

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 7% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Russian 5% Lithuanian 4% Romanian 3%
• Foreign-born: 12% · China, Canada
• Languages at home: 87% English-only · Other Indo-European 5% Arabic 3% Chinese 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: ▼ -53.23%
• Current HPI: 182.4523
• Rent YoY: —
• Metro: —
• 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

+141.3% since first listed

5 events — show timeline

• 2026-05-23 Pending — Smart MLS
• 2026-04-06 Contingent — Smart MLS
• 2026-03-27 Listed $349,900 Smart MLS
• 2026-03-25 Coming Soon $349,900 Smart MLS
• 1988-03-03 Sold (Public Records) $145,000 Public Records

Property tax history

+2.6%/yr

Latest (2022): $5,739 · +17.6% YoY. Source: county tax records.