42 Bryan St · Waterbury, CT 06705

$239,900

3 bd · 2.0 ba · 1,566 sqft · MultiFamily public records · 9 Days on market

Built 1948 10,018 sqft lot Est $399k · 40% under

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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 +28.9/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Unique opportunity in this solidly built, one-level ranch located close to highway, shops and restaurants in the East End. Occupied by one multi-generational family since being built as a 2-family home, this property offers multiple opportunities with 3 bedrooms, 2 full baths and 2 kitchens. You can build a wall and have a 2-family with a 1-bedroom and a 2-bedroom apartment. Or use as is with a 1-bedroom in-law section with it's own kitchen and bath. Or combine the 2 kitchens to have a spacious 1-family layout. The interior boasts high ceilings, hardwood floors, large closets and built-in storage. Enjoy the benefits of a new gas furnace, 3-year old roof and central air conditioning. There's

Key facts

• One level ranch
• 2 kitchens
• 3 year old roof

Tags

• ONE LEVEL RANCH
• 2 KITCHENS
• IN LAW SECTION
• NEW GAS FURNACE
• 3 YEAR OLD ROOF
• CENTRAL AIR CONDITIONING

Property features AI

Exterior

• Parking: Under-house garage; Paved driveway; 3 total parking spaces; 1 garage (attached under house)
• Utilities: Public water connected; Public sewer in street and septic; Natural gas service; Storm doors and storm windows
• Home design: Single-family home
• Construction: Frame construction with clapboard wood siding; Stone foundation; Asphalt shingle roof; White exterior color
• Exterior features: Enclosed porch and additional porch; Garden area; Chain link and full fencing; Corner lot with sloping terrain; Private paved driveway

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot air heating fueled by natural gas; Central air conditioning; 40-gallon natural gas hot water tank
• Interior features: Automatic garage door opener; In-law apartment with first-floor access; Full unfinished walk-out basement with concrete floor, storage and garage access; Attic with floored, walk-up storage space; Central air
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Cap rate 10.4% 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: 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.
• Zoned schools: Margaret M. Generali Elementary School (math 8% / reading 21%, grade F, #475 of 553 statewide, top 87%, 457 students, 77% FRL); Crosby High School (math 2% / reading 17%, grade F, #187 of 194 statewide, top 96%, 1,400 students, 84% FRL).
• Market conditions: Rents rising (+3.4%/yr); 82 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $3,640/mo this rent would consume 81% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $67k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1948 — 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 $239,900

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.52% ✓
• Cap rate: 10.37%
• Cash-on-cash: 14.55%
• DSCR: 1.65
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $399,330
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2773 E Main St	0.39mi	4/2.0 (+1)	1,600 (+2%)	24mo	$295,000	$184	54
171 Moreland Ave	0.63mi	4/2.5 (+1)	1,400 (-11%)	22mo	$357,000	$255	28

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: 5.6%
• Equity multiple: 1.22×
• Total profit: $14,670
• Equity at exit: $35,770

10-year hold

• IRR: 15.5%
• Equity multiple: 2.29×
• Total profit: $86,432
• Equity at exit: $20,742

Cash invested: $67,172 (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: 11.0×

Monthly cashflow live

• Estimated rent: $3,640 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$703 /mo · $8,436/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$764
• Net cashflow: $815

Break-even live

Break-even rent $2,609

Max offer price $239,900

Occupancy floor 73%

Sensitivity live

Price	-10% $950	-5% $882	+0% $815	+5% $747	+10% $679
Rent	-10% $527	-5% $671	+0% $815	+5% $958	+10% $1,102
Rate	-1.0pp $935	-0.5pp $876	base $815	+0.5pp $752	+1.0pp $689

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,640
Total (2 units)			$3,640

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
82 Middlefield Ave Unit 2nd Floor Waterbury, CT	3.0	1.0	1216	$1,900	$1.56	22d	1	0.42mi
174 Stonefield Dr #41 Waterbury, CT	3.0	1.5	1354	$2,450	$1.81	4d	1	0.59mi
300 Schraffts Dr Waterbury, CT	1.0–2.0	1.0–2.0	1075	$1,850	$1.72	3d	2	0.60mi
188 Moreland Ave Waterbury, CT	2.0	1.0	1838	$1,750	$0.95	3d	1	0.67mi
75 Alma St Waterbury, CT	3.0	1.0	1143	$1,850	$1.62	45d	1	0.69mi
88 Farrell Rd Waterbury, CT	2.0	1.0	1568	$1,700	$1.08	24d	1	0.74mi
81 Woodtick Rd Unit 1 Waterbury, CT	2.0	1.0	1902	$1,200	$0.63	15d	1	0.92mi
18 Manchester Ave Waterbury, CT	3.0	1.5	1074	$3,000	$2.79	22d	1	1.10mi
22 Leaf Ave Unit 2nd Floor Waterbury, CT	2.0	1.0	1200	$1,650	$1.38	3d	1	1.14mi
87 Worcester Ave Waterbury, CT	3.0	1.0	1252	$2,300	$1.84	20d	1	1.18mi
29 Bouley Ave Waterbury, CT	4.0	1.0	1267	$3,000	$2.37	45d	1	1.20mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $239,900 Under Contract 9 DOM
2. 2026-06-05
   days on market $239,900 Active 6 DOM
3. 2026-06-03
   days on market $239,900 Active 5 DOM
4. 2026-06-03
   days on market $239,900 Active 4 DOM
5. 2026-06-01
   days on market $239,900 Active 3 DOM
6. 2026-05-31
   days on market $239,900 Active 2 DOM

ⓘ 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: $8,436 · $703/mo
• Projected year-2 tax: $8,436 · $703/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $43,680
• − Mortgage interest: −$13,438
• − Property taxes: −$8,436
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,494
• − Management: −$3,494
• − Depreciation: −$6,979
• Taxable income: $6,639
• Est. tax owed @ 24.0%: −$1,593
• After-tax cash flow: $8,182/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

1 event — show timeline

• 2026-05-25 Listed $239,900 Smart MLS

Property tax history

+4.7%/yr

Latest (2023): $8,436 · +58.7% YoY. Source: county tax records.