763 Baldwin St · Waterbury, CT 06706

$399,900

6 bd · 3.0 ba · 3,828 sqft · MultiFamily · 4 Days on market

Built 1896 Fair condition 4,791 sqft lot Est $379k · 6% over

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Why this score? — see what drove the C+ 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 +27.1/30.0
• DSCR +9.4/10.0
• 1% rule +7.3/10.0
• Appreciation +5.7/10.0
• ARV discount +5.0/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.5/10.0

Multi-family units

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

Listing remarks

Excellent investment opportunity or owner-occupied property! This well-maintained fully unoccupied * * * three-family home features three spacious units, each offering 2 bedrooms and 1 full bathroom with comfortable layouts and plenty of natural light. Separate living and dining areas provide ample space for tenants, while the property's multi-family setup offers strong income-producing potential. Conveniently located near shopping, restaurants, schools, public transportation, and major highways, making commuting easy. Whether you're looking to expand your investment portfolio or live in one unit while collecting rental income from the others, this property presents a fantastic opportunit

Key facts

• Multi family setup
• Three family home
• Laundry hook ups

Tags

• THREE FAMILY HOME
• MULTI FAMILY SETUP
• CONVENIENTLY LOCATED
• LAUNDRY HOOK UPS

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; 40-gallon hot water tank
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Concrete and stone foundation; Asphalt shingle roof
• Exterior features: Corner lot; Sloping lot; Shingle siding

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot water heating (natural gas); Window unit cooling
• Interior features: 15 total rooms; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $400k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $379/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Cap rate 9.7% vs local median 3.5% 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: Washington School (math 2% / reading 8%, grade F, #545 of 553 statewide, top 99%, 296 students, 79% FRL); West Side Middle School (math 8% / reading 23%, grade F, #165 of 175 statewide, top 94%, 817 students, 81% FRL); Crosby High School (math 2% / reading 17%, grade F, #187 of 194 statewide, top 96%, 1,400 students, 84% FRL).
• Market conditions: 43 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 $4,938/mo this rent would consume 113% of the median local household income ($52k/yr) (locally 801% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $8k of equity ($3k loan paydown + $6k appreciation (1.4% local appreciation)).
• At projected returns (1.4% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,900

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1896 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.23% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.19%
• DSCR: 1.54
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $378,972
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
895 Baldwin St	0.13mi	6/3.0	3,645 (-5%)	2mo	$360,000	$99	84
96 Lounsbury St	0.19mi	6/3.0	4,120 (+8%)	10mo	$240,000	$58	70
1599 S Main St	0.58mi	7/3.0 (+1)	3,936 (+3%)	12mo	$300,000	$76	54
20 Stiles St	0.66mi	6/3.0	4,095 (+7%)	8mo	$415,000	$101	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 1.78×
• Total profit: $87,757
• Equity at exit: $144,778

10-year hold

• IRR: 18.1%
• Equity multiple: 3.28×
• Total profit: $254,814
• Equity at exit: $198,952

Cash invested: $111,972 (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 06706

• Home prices YoY: 0.5%
• Active inventory: 43
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $4,938 high
• Mortgage (P&I): −$2,097
• Tax est. 1.5%: −$500 /mo · $5,998/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,037
• Net cashflow: $1,137

Break-even live

Break-even rent $3,498

Max offer price $399,900

Occupancy floor 72%

Sensitivity live

Price	-10% $1,414	-5% $1,276	+0% $1,137	+5% $999	+10% $861
Rent	-10% $747	-5% $942	+0% $1,137	+5% $1,332	+10% $1,528
Rate	-1.0pp $1,339	-0.5pp $1,239	base $1,137	+0.5pp $1,034	+1.0pp $928

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,938
Total (3 units)			$4,938

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: $99,975
• Closing costs: $11,997
• 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	5d	1	0.82mi

Listing history 4 events

1. 2026-06-07
   statusdays on market $399,900 Under Contract 4 DOM
2. 2026-06-05
   days on market $399,900 Active 2 DOM
3. 2026-06-03
   remarks 699-char remark
4. 2026-06-03
   listed $399,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,256
• − Mortgage interest: −$22,401
• − Property taxes: −$5,998
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,740
• − Management: −$4,740
• − Depreciation: −$11,633
• Taxable income: $7,743
• Est. tax owed @ 24.0%: −$1,858
• After-tax cash flow: $11,790/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.

Condition & rehab AI · 14 photos

Fair 45/100 Moderate rehab

The property is a three-family home with moderate repairs and maintenance needs. Painting the exterior siding and replacing the kitchen cabinets and bathroom fixtures can significantly increase its value.

Repairs flagged

• Minor Kitchen cabinets — The kitchen cabinets appear to be in good condition, with no visible damage.
• Minor Bathroom fixtures — The bathroom fixtures appear to be in good condition, with no visible damage.
• Moderate Exterior siding — The exterior siding appears to have some wear and tear, indicating a need for maintenance or repair.
• Minor Flooring — The flooring appears to be in good condition, with no visible damage.
• Minor Interior walls/paint — The interior walls and paint appear to be in good condition, with no visible damage.
• Minor HVAC system — The HVAC system appears to be in good condition, with no visible damage.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding can improve the curb appeal and increase the property's value.
• Resale Replace the kitchen cabinets — Replacing the kitchen cabinets can improve the kitchen's functionality and increase the property's resale value.
• Resale Replace the bathroom fixtures — Replacing the bathroom fixtures can improve the bathroom's functionality and increase the property's resale value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The kitchen cabinets appear to be in good condition, with no visible damage.	Minor	$500–3,000
Bathroom fixtures · The bathroom fixtures appear to be in good condition, with no visible damage.	Minor	$500–3,000
Exterior siding · The exterior siding appears to have some wear and tear, indicating a need for maintenance or repair.	Moderate	$3,000–15,000
Flooring · The flooring appears to be in good condition, with no visible damage.	Minor	$500–3,000
Interior walls/paint · The interior walls and paint appear to be in good condition, with no visible damage.	Minor	$500–3,000
HVAC system · The HVAC system appears to be in good condition, with no visible damage.	Minor	$500–3,000
Total estimated repair cost · 6 items		$5,500–30,000

Value-add ROI direction

• Both Paint the exterior siding — Painting the exterior siding can improve the curb appeal and increase the property's value. ↑
• Resale Replace the kitchen cabinets — Replacing the kitchen cabinets can improve the kitchen's functionality and increase the property's resale value. ↑
• Resale Replace the bathroom fixtures — Replacing the bathroom fixtures can improve the bathroom's functionality and increase the property's resale value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 15,551
• Household income: $52,242
• Rent vs Own: 59.2% rent · 40.8% own
• Severe rent burden: 801.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 35% White 31% Black 25% Two or more races 12% Asian 3%
• Hispanic origin (detail): Puerto Rican 25% Dominican 4%
• Common ancestry: Lithuanian 3% Estonian 2% Romanian 1%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 60% English-only · Spanish 27% Other Indo-European 11% Other Asian/Pacific 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: ▲ 1.39%
• Current HPI: 309.8467
• Rent YoY: —
• 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

• 2026-06-02 Listed $399,900 Smart MLS