2192 Waterbury Rd · Waterbury, CT 06410

$510,000

6 bd · 3.0 ba · 2,960 sqft · MultiFamily public records · 3 Days on market

Built 1840 0.30 ac lot $172/sqft · 8% below area Est $555k · 8% under

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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 +24.3/30.0
• ARV discount +11.2/15.0
• DSCR +7.8/10.0
• Schools +6.5/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

Do not miss your opportunity to own this beautifully maintained 3 family home in Cheshire. 3 2 bedroom units that are all currently rented to generate a positive cash flow immediately when you purchase. 1 Car oversized garage, updated units, oil heat. Schedule a private showing today

Key facts

• Functional kitchen
• Conveniently located
• 0.3 acre lot

Tags

• INVESTMENT OPPORTUNITY
• EXISTING RENTAL INCOME
• CONSISTENT TENANT DEMAND
• FUNCTIONAL KITCHEN
• AMPLE OFF-STREET PARKING
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Detached garage (1); Paved parking; Total of 5 parking spaces
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Brick and masonry foundation
• Exterior features: Level lot; Vinyl siding; Asphalt shingle roof

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot water heat; Propane fuel for heating; Above-ground fuel tank; Propane domestic hot water
• Interior features: 14 total rooms; Full, unfinished basement with crawl space, hatchway access, dirt floor and concrete floor

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $510k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $341/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $510k).
• Cap rate 8.7% 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.
• Cheshire School District (suburban): math 64% / reading 76% proficiency, ranked #15 of 153 in CT (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical; only 6% free/reduced lunch — higher-income household profile.
• Market conditions: 111 active listings in the ZIP; high-income renter base; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $5,501/mo this rent would consume 45% of the median local household income ($145k/yr) (locally 234% 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 $4k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: built in 1840 — 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 $510,000

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 1840 — 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. 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: 1.08% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.61%
• DSCR: 1.38
• GRM: 7.7

CMA / ARV

• ARV (median comp): $555,238
• List price: $510,000
• Delta: -8.15%
• Verdict: FAIR
• Comps: 11 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2192 Waterbury Rd	0.00mi	6/3.0	2,960 (0%)	1mo	$510,000	$172	100

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-17,456
• Equity at exit: $76,043

10-year hold

• IRR: 6.4%
• Equity multiple: 1.48×
• Total profit: $68,621
• Equity at exit: $44,095

Cash invested: $142,800 (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 06410

• Active inventory: 111
• Price-to-rent: 23.2×

Monthly cashflow live

• Estimated rent: $5,501 high
• Mortgage (P&I): −$2,674
• Tax from tax record: −$435 /mo · $5,216/yr
• Insurance: −$212
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,155
• Net cashflow: $1,024

Break-even live

Break-even rent $4,205

Max offer price $510,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$5,502
Total (3 units)			$5,501

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: $127,500
• Closing costs: $15,300
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-05
   status Under Contract 768-char remark
2. 2026-05-01
   listed $510,000 Active 768-char remark
3. 2023-07-09
   historical
4. 2019-07-23
   soldstatus $310,000
5. 2019-07-22
   soldstatus $310,000 Closed 284-char remark

   Show marketing remark (284 chars)

   Do not miss your opportunity to own this beautifully maintained 3 family home in Cheshire. 3 2 bedroom units that are all currently rented to generate a positive cash flow immediately when you purchase. 1 Car oversized garage, updated units, oil heat. Schedule a private showing today

6. 2019-07-20
   historical Under Contract - Continue to Show 284-char remark

   Show marketing remark (284 chars)

   Do not miss your opportunity to own this beautifully maintained 3 family home in Cheshire. 3 2 bedroom units that are all currently rented to generate a positive cash flow immediately when you purchase. 1 Car oversized garage, updated units, oil heat. Schedule a private showing today

7. 2019-07-15
   historical 284-char remark

   Show marketing remark (284 chars)

   Do not miss your opportunity to own this beautifully maintained 3 family home in Cheshire. 3 2 bedroom units that are all currently rented to generate a positive cash flow immediately when you purchase. 1 Car oversized garage, updated units, oil heat. Schedule a private showing today

8. 2019-07-07
   historical Under Contract - Continue to Show 284-char remark

   Show marketing remark (284 chars)

   Do not miss your opportunity to own this beautifully maintained 3 family home in Cheshire. 3 2 bedroom units that are all currently rented to generate a positive cash flow immediately when you purchase. 1 Car oversized garage, updated units, oil heat. Schedule a private showing today

9. 2019-06-05
   status Active 284-char remark

   Show marketing remark (284 chars)

   Do not miss your opportunity to own this beautifully maintained 3 family home in Cheshire. 3 2 bedroom units that are all currently rented to generate a positive cash flow immediately when you purchase. 1 Car oversized garage, updated units, oil heat. Schedule a private showing today

10. 2019-05-13
    historical 284-char remark

    Show marketing remark (284 chars)

    Do not miss your opportunity to own this beautifully maintained 3 family home in Cheshire. 3 2 bedroom units that are all currently rented to generate a positive cash flow immediately when you purchase. 1 Car oversized garage, updated units, oil heat. Schedule a private showing today

11. 2019-05-11
    listed $320,000 Active 284-char remark

    Show marketing remark (284 chars)

    Do not miss your opportunity to own this beautifully maintained 3 family home in Cheshire. 3 2 bedroom units that are all currently rented to generate a positive cash flow immediately when you purchase. 1 Car oversized garage, updated units, oil heat. Schedule a private showing today

12. 2016-05-06
    soldstatus $1,150

    Show marketing remark (130 chars)

    NICE UNIT HAS ISLAND KITCHEN 2 BEDROOMS 1 BATH AVAIL MARCH 1ST AMD NO PETS AND SECURITY IST LAST MONTH CREDIT AND BACKGROUND CHECK

13. 2016-02-08
    historical

    Show marketing remark (130 chars)

    NICE UNIT HAS ISLAND KITCHEN 2 BEDROOMS 1 BATH AVAIL MARCH 1ST AMD NO PETS AND SECURITY IST LAST MONTH CREDIT AND BACKGROUND CHECK

14. 2016-02-07
    listed $1,150

    Show marketing remark (130 chars)

    NICE UNIT HAS ISLAND KITCHEN 2 BEDROOMS 1 BATH AVAIL MARCH 1ST AMD NO PETS AND SECURITY IST LAST MONTH CREDIT AND BACKGROUND CHECK

ⓘ 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: $5,216 · $435/mo
• Projected year-2 tax: $8,065 · $672/mo
• Expected delta: +$2,849/yr (+$237/mo · 54.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°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: $66,012
• − Mortgage interest: −$28,568
• − Property taxes: −$5,216
• − Insurance: −$2,550
• − Repairs & maintenance: −$5,281
• − Management: −$5,281
• − Depreciation: −$14,836
• Taxable income: $4,280
• Est. tax owed @ 24.0%: −$1,027
• After-tax cash flow: $11,262/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: Cheshire School District
• NCES district ID: 0900750
• Math proficiency: 64% ▼ -9.00%
• Reading proficiency: 76% ▼ -6.00%
• Median HH income: $107,049
• Composite: 64.78/100
• National rank: #519
• State rank: #15 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

• County: New Haven County · 688,236 people
• City population: 115,012
• Metro: New Haven-Milford, CT
• Population (ZIP): 28,904
• Household income: $145,179
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 234.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 10% Asian 10% Hispanic / Latino 7% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 4% Scotch-Irish 3%
• Foreign-born: 13% · China, Canada, South Korea
• Languages at home: 85% English-only · Chinese 4% Other Indo-European 3% Spanish 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: ▼ -321.35%
• Current HPI: 244.0737
• 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

+44247.8% since first listed

15 events — show timeline

• 2026-06-01 Sold (MLS) $510,000 Smart MLS
• 2026-05-05 Pending — Smart MLS
• 2026-05-01 Listed $510,000 Smart MLS
• 2023-07-09 Rental Removed — APPFOLIO
• 2019-07-23 Sold (Public Records) $310,000 Public Records
• 2019-07-22 Sold (MLS) $310,000 Smart MLS
• 2019-07-20 Contingent — Smart MLS
• 2019-07-15 Listing Removed — Smart MLS
• 2019-07-07 Contingent — Smart MLS
• 2019-06-05 Relisted — Smart MLS
• 2019-05-13 Listing Removed — Smart MLS
• 2019-05-11 Listed $320,000 Smart MLS
• 2016-05-06 Sold (MLS) $1,150 Smart MLS
• 2016-02-08 Listing Removed — Smart MLS
• 2016-02-07 Listed $1,150 Smart MLS

Property tax history

+0.8%/yr

Latest (2023): $5,216 · +2.2% YoY. Source: county tax records.