2784 E Main St · Waterbury, CT 06705

$455,000

5 bd · 3.0 ba · 2,371 sqft · MultiFamily public records · 76 Days on market

Built 1920 0.53 ac lot Est $448k · at est.

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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 +18.0/30.0
• ARV discount +6.8/15.0
• DSCR +5.6/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 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: 3 units. confirmed

Listing remarks

Excellent investment or owner-occupant opportunity! This well-maintained 3-family home is ideally located in the heart of the city's East End, just minutes from Route 84, medical facilities, and within walking distance to schools, shopping and restaurants. All three spacious apartments feature beautiful hardwood floors, eat-in kitchens with ample pantry cabinet storage, along with washer hookups in each unit. Th property also offers plenty of off-street parking, a large private backyard perfect for outdoor enjoyment, and an oversized 2-car garage with multiple storage areas. This is a fantastic opportunity offering both convenience and strong rental potential in a sought-after location.

Key facts

• Eat-in kitchens
• Washer hookups
• East end location

Tags

• EAST END LOCATION
• HARDWOOD FLOORS
• EAT-IN KITCHENS
• AMPLE PANTRY CABINET STORAGE
• WASHER HOOKUPS
• OFF-STREET PARKING

Property features AI

Finance

• Other: Property located in Connecticut (New Haven County); Nearby amenities include basketball court, commuter bus, medical facilities, park, public transportation, shopping/mall, tennis courts, and walk-to-bus lines; Directions reference: East Main Street
• Financial info: No investor or income/expense details provided

Exterior

• Parking: Detached garage; 2-car garage; Paved and unpaved areas; Off-street parking; Total of 6 parking spaces
• Security: No security features provided
• Utilities: Public water connected; Public sewer connected; Hot water by natural gas; Fuel tank located above ground
• Home design: Multi-family property (3-family); Multi-family for sale
• Construction: Built with frame construction; Stone foundation; Asphalt shingle roof; Yellow and green exterior siding (vinyl and aluminum)
• Exterior features: Enclosed porch and open porch; Level lot

Interior

• Kitchen: No specific appliance details provided
• Bedrooms: 6 total bedrooms
• Flooring: No flooring details provided
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating; Heat sources: electric, natural gas, and oil
• Interior features: 16 total rooms; Full basement with storage, interior access, concrete floor and walk-out; Attic with storage space accessible via hatch; Ceiling fans; Window air conditioning units
• Laundry & utility: Basement washer/dryer hook-ups; In-unit hook-up in one unit; Washer/dryer present in some units

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $455k.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive. Per door: $131/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $455k).
• Recommended offer: $428k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 (+3.4%/yr); 82 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 $4,641/mo this rent would consume 103% of the median local household income ($54k/yr) (locally 1690% 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 $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($428k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $427,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.02% ✓
• Cap rate: 7.33%
• Cash-on-cash: 3.70%
• DSCR: 1.16
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $448,119
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
92 Glenstone Rd	0.61mi	6/2.5 (+1)	2,499 (+5%)	1mo	$480,000	$192	55
2824 E Main St	0.05mi	5/2.0	2,726 (+15%)	17mo	$405,000	$149	55
82 Middlefield Ave	0.49mi	6/2.0 (+1)	2,432 (+3%)	19mo	$460,000	$189	48
81 Glenstone Rd	0.58mi	6/3.0 (+1)	2,541 (+7%)	10mo	$459,000	$181	48
46 Kramer Ave	0.29mi	5/2.0	2,102 (-11%)	24mo	$260,000	$124	44
54 Vivian Dr	0.63mi	6/2.0 (+1)	2,522 (+6%)	19mo	$480,000	$190	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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.63×
• Total profit: $-46,832
• Equity at exit: $67,842

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-795
• Equity at exit: $39,340

Cash invested: $127,400 (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 06705

• Home prices YoY: -11.0%
• Rents YoY: 3.4%
• Active inventory: 82
• Price-to-rent: 24.5×

Monthly cashflow live

• Estimated rent: $4,641 high
• Mortgage (P&I): −$2,386
• Tax from tax record: −$698 /mo · $8,376/yr
• Insurance: −$190
• HOA: −$0
• Vacancy / Maint / Mgmt: −$975
• Net cashflow: $393

Break-even live

Break-even rent $4,144

Max offer price $455,000

Occupancy floor 87%

Sensitivity live

Price	-10% $650	-5% $522	+0% $393	+5% $264	+10% $135
Rent	-10% $26	-5% $209	+0% $393	+5% $576	+10% $759
Rate	-1.0pp $622	-0.5pp $508	base $393	+0.5pp $275	+1.0pp $155

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,641
Total (3 units)			$4,641

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: $113,750
• Closing costs: $13,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Niagara St Waterbury, CT	6.0	3.0	3156	$1,700	$0.54	4d	1	1.50mi

Listing history 6 events

1. 2026-06-03
   statusdays on market $455,000 Under Contract 76 DOM
2. 2026-06-03
   days on market $455,000 Under Contract - Continue to Show 75 DOM
3. 2026-06-01
   days on market $455,000 Under Contract - Continue to Show 74 DOM
4. 2026-05-31
   days on market $455,000 Under Contract - Continue to Show 73 DOM
5. 2026-03-30
   historical Under Contract - Continue to Show
6. 2026-03-19
   listed $455,000 Active

ⓘ 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: $8,376 · $698/mo
• Projected year-2 tax: $9,056 · $755/mo
• Expected delta: +$680/yr (+$57/mo · 8.1%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,692
• − Mortgage interest: −$25,487
• − Property taxes: −$8,376
• − Insurance: −$2,275
• − Repairs & maintenance: −$4,455
• − Management: −$4,455
• − Depreciation: −$13,236
• Taxable loss: −$2,593
• Est. tax savings @ 24.0%: +$622
• After-tax cash flow: $5,335/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): 25,266
• Household income: $53,954
• Rent vs Own: 48.8% rent · 51.2% own
• Severe rent burden: 1690.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 34% Hispanic / Latino 34% Black 22% Two or more races 14% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 22% Dominican 3%
• Common ancestry: Lithuanian 6% Hispanic 3% Romanian 2%
• Foreign-born: 19% · Canada, Jamaica, China
• Languages at home: 66% English-only · Spanish 22% Other Indo-European 6% French/Haitian/Cajun 3%

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: ▼ -37.50%
• Current HPI: 304.4948
• Rent YoY: ▲ 3.37%
• 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

2 events — show timeline

• 2026-03-30 Contingent — Smart MLS
• 2026-03-19 Listed $455,000 Smart MLS

Property tax history

+4.0%/yr

Latest (2023): $8,376 · +47.0% YoY. Source: county tax records.