193 Plaza Ave · Waterbury, CT 06710

$150,000

6 bd · 3.0 ba · 3,395 sqft · MultiFamily public records · 105 Days on market

Built 1910 5,227 sqft lot $44/sqft · 57% below area ↓ 6% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Residential property located in Waterbury, CT, house lot has 0.12 acres.

Key facts

• 5,227 sq ft lot
• Built 1910
• Listed 105 days

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $963 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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 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 $2,488/mo this rent would consume 80% 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y 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 $60k; list at $150k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.66% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.51%
• DSCR: 2.22
• GRM: 5.0

CMA / ARV

• ARV (median comp): $345,384
• List price: $150,000
• Delta: -56.57%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
234 Plaza Ave	0.06mi	6/3.0	3,435 (+1%)	7mo	$275,000	$80	89
399 Willow St	0.12mi	6/3.0	3,244 (-4%)	11mo	$76,000	$23	78
10 Fleming St	0.33mi	6/3.0	3,390 (-0%)	10mo	$487,000	$144	76
175 Chestnut Ave	0.30mi	6/3.0	3,597 (+6%)	13mo	$385,000	$107	66
205 Cooke St	0.69mi	6/3.0	3,439 (+1%)	5mo	$380,000	$110	62
57 Ridgewood St	0.40mi	6/2.0	3,075 (-9%)	5mo	$265,000	$86	57
133-135 Byrneside Ave	0.69mi	6/3.0	3,355 (-1%)	14mo	$300,000	$89	54
14 Chestnut Ave	0.60mi	6/3.0	3,588 (+6%)	12mo	$370,000	$103	52
82 Bunker Hill Ave	0.56mi	6/3.0	3,825 (+13%)	3mo	$530,000	$139	51
376 Farmington Ave	0.53mi	6/2.0	2,945 (-13%)	1mo	$250,000	$85	48
116 Byrneside Ave	0.71mi	6/3.0	3,715 (+9%)	13mo	$310,000	$83	40
34 Farnham Ave	0.69mi	7/3.0 (+1)	3,074 (-10%)	14mo	$490,000	$159	35

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: 18.2%
• Equity multiple: 1.71×
• Total profit: $29,743
• Equity at exit: $22,365

10-year hold

• IRR: 24.4%
• Equity multiple: 2.83×
• Total profit: $76,751
• Equity at exit: $12,969

Cash invested: $42,000 (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: 5.0×

Monthly cashflow live

• Estimated rent: $2,488 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$154 /mo · $1,847/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $963

Break-even live

Break-even rent $1,270

Max offer price $150,000

Occupancy floor 56%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $150,000 Active 105 DOM
2. 2026-06-17
   days on market $150,000 Active 104 DOM
3. 2026-06-16
   days on market $150,000 Active 103 DOM
4. 2026-06-15
   days on market $150,000 Active 102 DOM
5. 2026-06-14
   days on market $150,000 Active 100 DOM
6. 2026-06-13
   days on market $150,000 Active 99 DOM
7. 2026-06-10
   days on market $150,000 Active 97 DOM
8. 2026-06-09
   days on market $150,000 Active 96 DOM
9. 2026-06-08
   days on market $150,000 Active 95 DOM
10. 2026-06-07
    days on market $150,000 Active 94 DOM
11. 2026-06-05
    days on market $150,000 Active 91 DOM
12. 2026-06-03
    days on market $150,000 Active 90 DOM
13. 2026-06-03
    days on market $150,000 Active 89 DOM
14. 2026-06-01
    days on market $150,000 Active 88 DOM
15. 2026-05-31
    days on market $150,000 Active 87 DOM
16. 2026-03-04
    listed $150,000 Active 72-char remark

    Show marketing remark (72 chars)

    Residential property located in Waterbury, CT, house lot has 0.12 acres.

17. 2023-06-13
    historical
18. 2023-03-21
    status Active
19. 2023-03-14
    status Under Contract
20. 2023-03-12
    listed $140,000 Active
21. 2009-11-30
    historical
22. 2009-05-31
    listed $110,000
23. 2009-04-17
    soldstatus $60,000
24. 2009-04-14
    soldstatus $60,000
25. 2008-11-04
    listed $90,000
26. 2005-03-10
    soldstatus $155,000
27. 2005-03-04
    soldstatus $155,000
28. 2004-12-30
    listed $159,900

ⓘ 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: $1,847 · $154/mo
• Projected year-2 tax: $2,528 · $211/mo
• Expected delta: +$682/yr (+$57/mo · 36.9%)

ⓘ 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: $29,862
• − Mortgage interest: −$8,402
• − Property taxes: −$1,847
• − Insurance: −$750
• − Repairs & maintenance: −$2,389
• − Management: −$2,389
• − Depreciation: −$4,364
• Taxable income: $9,721
• Est. tax owed @ 24.0%: −$2,333
• After-tax cash flow: $9,221/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

-6.2% since first listed

13 events — show timeline

• 2026-03-04 Listed $150,000 Smart MLS
• 2023-06-13 Listing Removed — Smart MLS
• 2023-03-21 Relisted — Smart MLS
• 2023-03-14 Pending — Smart MLS
• 2023-03-12 Listed $140,000 Smart MLS
• 2009-11-30 Listing Removed — Smart MLS
• 2009-05-31 Listed $110,000 Smart MLS
• 2009-04-17 Sold (MLS) $60,000 Smart MLS
• 2009-04-14 Sold (Public Records) $60,000 Public Records
• 2008-11-04 Listed $90,000 Smart MLS
• 2005-03-10 Sold (Public Records) $155,000 Public Records
• 2005-03-04 Sold (MLS) $155,000 Smart MLS
• 2004-12-30 Listed $159,900 Smart MLS

Property tax history

+1.6%/yr

Latest (2023): $1,847 · +41.2% YoY. Source: county tax records.