500 Wilson St · Waterbury, CT 06708

$425,000

6 bd · 3.0 ba · 2,602 sqft · MultiFamily public records · 26 Days on market

Built 1914 4,791 sqft lot Est $364k · 17% 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 +20.1/30.0
• DSCR +6.4/10.0
• 1% rule +5.6/10.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Check out this 3-family property right on the fringe of Town Plot! This property has been a good building to produce income, and is also a good value-add opportunity. The units are in kept condition, with some including a mixture of updated kitchens, baths, flooring, and or fresh paint throughout. Each unit is 2 beds and 1 bath and has front & back porches. The basement is clean and organized, and mechanics are running strong. This location is close to many amenities, minutes to the highway, and also close to Waterbury Hospital & Saint Mary's Hospital. Excellent opportunity to add to or start a portfolio. Inquire today!

Key facts

• 3 unit
• Cash flowing asset
• Move in ready

Tags

• 3 UNIT
• TOWN PLOT NEIGHBORHOOD
• CASH FLOWING ASSET
• STRONG TENANT DEMAND
• MOVE IN READY
• FORCED HOT AIR HEATING

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Domestic hot water
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Concrete foundation
• Exterior features: Level lot; Vinyl siding; Asphalt shingle roof

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air heat; Ceiling fans; Natural gas heat fuel
• Interior features: Ceiling fans; No basement; Total of 18 rooms

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $532 ($6k/yr) — positive. Per door: $177/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $425k).
• Recommended offer: $419k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% 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 rising fast (+9.8%/yr); 121 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $4,511/mo this rent would consume 80% of the median local household income ($67k/yr) (locally 1276% 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $119k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($419k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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 $220k; list at $425k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $418,625 (1.5% 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 1914 — 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 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: 1.06% ✓
• Cap rate: 7.79%
• Cash-on-cash: 5.36%
• DSCR: 1.24
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $364,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70 Vail St	0.14mi	7/3.0 (+1)	2,633 (+1%)	5mo	$450,000	$171	83
324 Congress Ave	0.23mi	6/3.0	2,760 (+6%)	8mo	$326,400	$118	73
465 Washington Ave	0.12mi	7/3.5 (+1)	2,822 (+8%)	2mo	$475,000	$168	72
82 Chambers St	0.26mi	7/3.0 (+1)	2,465 (-5%)	13mo	$390,000	$158	64
18 Rutland St	0.35mi	6/3.0	2,700 (+4%)	18mo	$350,000	$130	62
80 Fox St	0.17mi	7/2.5 (+1)	2,700 (+4%)	20mo	$376,000	$139	62
37 N Leonard St	0.30mi	6/4.0	2,876 (+10%)	7mo	$370,000	$129	59
32 3rd St	0.35mi	5/4.0 (-1)	2,723 (+5%)	16mo	$260,000	$95	54
316 Wilson St	0.34mi	5/3.0 (-1)	2,240 (-14%)	4mo	$426,000	$190	53
389 Highland Ave	0.34mi	5/1.5 (-1)	2,488 (-4%)	18mo	$310,000	$125	50
520 Highland Ave	0.22mi	5/3.0 (-1)	2,973 (+14%)	15mo	$415,000	$140	48
40 Geddes Ter	0.55mi	6/2.0	2,782 (+7%)	19mo	$420,000	$151	43

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-11,044
• Equity at exit: $63,369

10-year hold

• IRR: 12.3%
• Equity multiple: 2.20×
• Total profit: $142,999
• Equity at exit: $36,746

Cash invested: $119,000 (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 06708

• Rents YoY: 9.8%
• Active inventory: 121
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $4,511 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$626 /mo · $7,515/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$947
• Net cashflow: $532

Break-even live

Break-even rent $3,838

Max offer price $425,000

Occupancy floor 83%

Sensitivity live

Price	-10% $772	-5% $652	+0% $532	+5% $411	+10% $291
Rent	-10% $175	-5% $353	+0% $532	+5% $710	+10% $888
Rate	-1.0pp $746	-0.5pp $640	base $532	+0.5pp $421	+1.0pp $309

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$4,512
Total (3 units)			$4,511

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37 Johnson St Waterbury, CT	6.0	1.5	2002	$3,200	$1.60	3d	1	1.10mi

Listing history 34 events

1. 2026-06-15
   status $425,000 Under Contract 26 DOM
2. 2026-06-15
   days on market $425,000 Active 26 DOM
3. 2026-06-14
   days on market $425,000 Active 24 DOM
4. 2026-06-13
   days on market $425,000 Active 23 DOM
5. 2026-06-10
   days on market $425,000 Active 21 DOM
6. 2026-06-09
   days on market $425,000 Active 20 DOM
7. 2026-06-08
   days on market $425,000 Active 19 DOM
8. 2026-06-07
   days on market $425,000 Active 18 DOM
9. 2026-06-05
   days on market $425,000 Active 15 DOM
10. 2026-06-03
    days on market $425,000 Active 14 DOM
11. 2026-06-03
    days on market $425,000 Active 13 DOM
12. 2026-06-01
    days on market $425,000 Active 12 DOM
13. 2026-05-31
    days on market $425,000 Active 11 DOM
14. 2026-05-20
    listed $425,000 Active
15. 2022-12-22
    soldstatus $220,000 Closed 635-char remark

    Show marketing remark (635 chars)

    Check out this 3-family property right on the fringe of Town Plot! This property has been a good building to produce income, and is also a good value-add opportunity. The units are in kept condition, with some including a mixture of updated kitchens, baths, flooring, and or fresh paint throughout. Each unit is 2 beds and 1 bath and has front & back porches. The basement is clean and organized, and mechanics are running strong. This location is close to many amenities, minutes to the highway, and also close to Waterbury Hospital & Saint Mary's Hospital. Excellent opportunity to add to or start a portfolio. Inquire today!

16. 2022-12-16
    status Under Contract 635-char remark

    Show marketing remark (635 chars)

    Check out this 3-family property right on the fringe of Town Plot! This property has been a good building to produce income, and is also a good value-add opportunity. The units are in kept condition, with some including a mixture of updated kitchens, baths, flooring, and or fresh paint throughout. Each unit is 2 beds and 1 bath and has front & back porches. The basement is clean and organized, and mechanics are running strong. This location is close to many amenities, minutes to the highway, and also close to Waterbury Hospital & Saint Mary's Hospital. Excellent opportunity to add to or start a portfolio. Inquire today!

17. 2022-12-12
    listed $242,000 Active 635-char remark

    Show marketing remark (635 chars)

    Check out this 3-family property right on the fringe of Town Plot! This property has been a good building to produce income, and is also a good value-add opportunity. The units are in kept condition, with some including a mixture of updated kitchens, baths, flooring, and or fresh paint throughout. Each unit is 2 beds and 1 bath and has front & back porches. The basement is clean and organized, and mechanics are running strong. This location is close to many amenities, minutes to the highway, and also close to Waterbury Hospital & Saint Mary's Hospital. Excellent opportunity to add to or start a portfolio. Inquire today!

18. 2017-10-20
    soldstatus $111,000 107-char remark

    Show marketing remark (107 chars)

    TOWN PLOT!!! 3 FAMILY with spacious 2 bedroom units, great views and access to major highways and shopping.

19. 2017-10-17
    historical 107-char remark

    Show marketing remark (107 chars)

    TOWN PLOT!!! 3 FAMILY with spacious 2 bedroom units, great views and access to major highways and shopping.

20. 2017-03-29
    listed $119,900 107-char remark

    Show marketing remark (107 chars)

    TOWN PLOT!!! 3 FAMILY with spacious 2 bedroom units, great views and access to major highways and shopping.

21. 2015-01-05
    soldstatus $95,750
22. 2014-12-04
    historical
23. 2014-11-14
    listed $109,900
24. 2014-10-08
    soldstatus $66,000
25. 2014-08-05
    listed $64,900
26. 2008-02-11
    soldstatus $220,000
27. 2007-09-21
    soldstatus $77,500
28. 2007-06-26
    listed $75,900
29. 2004-05-03
    soldstatus $144,900
30. 2004-04-29
    soldstatus $139,900
31. 2004-01-21
    listed $139,900
32. 2003-08-04
    soldstatus $130,000
33. 2003-06-30
    soldstatus $130,000
34. 2003-03-27
    listed $134,900

ⓘ 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: $7,515 · $626/mo
• Projected year-2 tax: $8,305 · $692/mo
• Expected delta: +$790/yr (+$66/mo · 10.5%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,132
• − Mortgage interest: −$23,807
• − Property taxes: −$7,515
• − Insurance: −$2,125
• − Repairs & maintenance: −$4,331
• − Management: −$4,331
• − Depreciation: −$12,364
• Taxable loss: −$339
• Est. tax savings @ 24.0%: +$81
• After-tax cash flow: $6,461/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): 29,594
• Household income: $67,364
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 1276.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 43% Hispanic / Latino 33% Black 17% Two or more races 13% Asian 2%
• Hispanic origin (detail): Puerto Rican 17% Dominican 8%
• Common ancestry: Romanian 2% Russian 2% Estonian 2%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 64% English-only · Spanish 23% Other Indo-European 8% French/Haitian/Cajun 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: ▼ -297.81%
• Current HPI: 281.1446
• Rent YoY: ▲ 9.75%
• 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

+215.0% since first listed

21 events — show timeline

• 2026-05-20 Listed $425,000 Smart MLS
• 2022-12-22 Sold (MLS) $220,000 Smart MLS
• 2022-12-16 Pending — Smart MLS
• 2022-12-12 Listed $242,000 Smart MLS
• 2017-10-20 Sold (MLS) $111,000 Smart MLS
• 2017-10-17 Listing Removed — Smart MLS
• 2017-03-29 Listed $119,900 Smart MLS
• 2015-01-05 Sold (MLS) $95,750 Smart MLS
• 2014-12-04 Listing Removed — Smart MLS
• 2014-11-14 Listed $109,900 Smart MLS
• 2014-10-08 Sold (MLS) $66,000 Smart MLS
• 2014-08-05 Listed $64,900 Smart MLS
• 2008-02-11 Sold (Public Records) $220,000 Public Records
• 2007-09-21 Sold (MLS) $77,500 Smart MLS
• 2007-06-26 Listed $75,900 Smart MLS
• 2004-05-03 Sold (Public Records) $144,900 Public Records
• 2004-04-29 Sold (MLS) $139,900 Smart MLS
• 2004-01-21 Listed $139,900 Smart MLS
• 2003-08-04 Sold (Public Records) $130,000 Public Records
• 2003-06-30 Sold (MLS) $130,000 Smart MLS
• 2003-03-27 Listed $134,900 Smart MLS

Property tax history

+5.2%/yr

Latest (2023): $7,515 · +69.0% YoY. Source: county tax records.