254 Davis St · Oakville, CT 06779

$499,990

6 bd · 3.0 ba · 2,016 sqft · MultiFamily public records · 13 Days on market

Built 1905 0.46 ac lot $248/sqft · 60% above area Est $405k · 24% 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 +25.0/30.0
• DSCR +8.1/10.0
• 1% rule +6.0/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

CALLING ALL INVESTORS! FULLY OCCUPIED 3-FAMILY that has a 1 car detached garage, back patio area and natural gas heat. Unit 1 is on the basement level and has 1 bedroom and 1 full bathroom. Unit 2 & 3 have 2 bedrooms, 1 full bathroom and a enclosed 3-season porch. All units have newer vinyl flooring. Also this home as 2 new hot water heaters and a new garage door. MOVE QUICK!

Key facts

• Natural gas heat
• Newer vinyl flooring
• New garage door

Tags

• UPDATED HOT WATER HEATERS
• NEW GARAGE DOOR
• NATURAL GAS HEAT
• NEWER VINYL FLOORING
• PRIVATE BACK PATIO AREA

Property features AI

Exterior

• Parking: Detached garage; Driveway parking; Off-street parking; 6 total parking spaces; 1 garage
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Block and stone foundation
• Exterior features: Level lot; Private driveway; Vinyl siding; Asphalt shingle roof; Blue exterior color

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating; Hot air heating; Natural gas heat fuel; 40-gallon natural gas hot water tank
• Interior features: 10 total rooms; Partial, partially finished basement; Attic with access via hatch

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $361/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $500k).
• Cap rate 8.9% vs local median 1.9% in Oakville — 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 71/100 on livability (#94 in CT) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Watertown School District (suburban): math 36% / reading 56% proficiency, ranked #84 of 153 in CT (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Polk School (math 43% / reading 52%, grade D, #255 of 553 statewide, top 46%, 321 students, 44% FRL); Watertown High School (math 22% / reading 57%, grade F, #107 of 194 statewide, top 56%, 735 students, 34% FRL) — zoned schools average 39% FRL vs 18% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 17 active listings in the ZIP; solid renter incomes; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $5,499/mo this rent would consume 69% of the median local household income ($96k/yr) (locally 301% 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 $15k of value loss. Plan a longer hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 18y 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 $376k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — 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 $499,990

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 1905 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.10% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.29%
• DSCR: 1.41
• GRM: 7.6

CMA / ARV

• ARV (median comp): $404,694
• List price: $499,990
• Delta: 23.55%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Van Orman St	0.32mi	5/2.0 (-1)	2,016 (0%)	1mo	$440,000	$218	75
19 Maplewood St	0.38mi	5/2.0 (-1)	1,920 (-5%)	22mo	$368,000	$192	47
284 Newridge Ave	0.66mi	6/2.0	2,186 (+8%)	5mo	$425,000	$194	47
264 Newridge Ave	0.70mi	5/2.0 (-1)	1,948 (-3%)	21mo	$325,000	$167	36

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-12,045
• Equity at exit: $74,550

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $78,226
• Equity at exit: $43,230

Cash invested: $139,997 (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 06779

• Home prices YoY: -22.3%
• Active inventory: 17
• Price-to-rent: 21.3×

Monthly cashflow live

• Estimated rent: $5,499 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$430 /mo · $5,164/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,155
• Net cashflow: $1,084

Break-even live

Break-even rent $4,127

Max offer price $499,990

Occupancy floor 75%

Sensitivity live

Price	-10% $1,367	-5% $1,225	+0% $1,084	+5% $942	+10% $801
Rent	-10% $649	-5% $866	+0% $1,084	+5% $1,301	+10% $1,518
Rate	-1.0pp $1,335	-0.5pp $1,211	base $1,084	+0.5pp $954	+1.0pp $822

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,912
1× unit	1	1	$1,588
Total (3 units)			$5,499

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: $124,998
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-12
   listed $499,990 Active 1058-char remark
2. 2023-08-14
   soldstatus $376,500 Closed 382-char remark

   Show marketing remark (382 chars)

   CALLING ALL INVESTORS! FULLY OCCUPIED 3-FAMILY that has a 1 car detached garage, back patio area and natural gas heat. Unit 1 is on the basement level and has 1 bedroom and 1 full bathroom. Unit 2 & 3 have 2 bedrooms, 1 full bathroom and a enclosed 3-season porch. All units have newer vinyl flooring. Also this home as 2 new hot water heaters and a new garage door. MOVE QUICK!

3. 2023-06-24
   status Under Contract 382-char remark

   Show marketing remark (382 chars)

   CALLING ALL INVESTORS! FULLY OCCUPIED 3-FAMILY that has a 1 car detached garage, back patio area and natural gas heat. Unit 1 is on the basement level and has 1 bedroom and 1 full bathroom. Unit 2 & 3 have 2 bedrooms, 1 full bathroom and a enclosed 3-season porch. All units have newer vinyl flooring. Also this home as 2 new hot water heaters and a new garage door. MOVE QUICK!

4. 2023-06-16
   listed $379,000 Active 382-char remark

   Show marketing remark (382 chars)

   CALLING ALL INVESTORS! FULLY OCCUPIED 3-FAMILY that has a 1 car detached garage, back patio area and natural gas heat. Unit 1 is on the basement level and has 1 bedroom and 1 full bathroom. Unit 2 & 3 have 2 bedrooms, 1 full bathroom and a enclosed 3-season porch. All units have newer vinyl flooring. Also this home as 2 new hot water heaters and a new garage door. MOVE QUICK!

5. 2010-12-28
   historical
6. 2009-07-30
   listed $269,900
7. 2009-05-04
   historical
8. 2008-08-04
   listed $279,900

ⓘ 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: $5,164 · $430/mo
• Projected year-2 tax: $7,932 · $661/mo
• Expected delta: +$2,768/yr (+$231/mo · 53.6%)

ⓘ 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 · 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,988
• − Mortgage interest: −$28,007
• − Property taxes: −$5,164
• − Insurance: −$2,500
• − Repairs & maintenance: −$5,279
• − Management: −$5,279
• − Depreciation: −$14,545
• Taxable income: $5,214
• Est. tax owed @ 24.0%: −$1,251
• After-tax cash flow: $11,751/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: Watertown School District
• NCES district ID: 0904890
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 56% ▼ -7.00%
• Median HH income: $76,021
• Composite: 41.88/100
• National rank: #3368
• State rank: #84 of 153 in CT

Livability — Oakville

• Score: 71/100
• State rank: #94
• US rank: #7195

Category grades

Amenities F Commute F Cost of living B- Crime A Employment A+ Housing A+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakville, CT
• County: Litchfield County · 81,203 people
• City population: 7,762
• Metro: Torrington, CT
• Population (ZIP): 8,364
• Household income: $95,798
• Rent vs Own: 24.4% rent · 75.6% own
• Severe rent burden: 301.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 13% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Lithuanian 8% Romanian 6% Slovak 3%
• Foreign-born: 11% · Canada, Dominican Republic
• Languages at home: 85% English-only · Other Indo-European 7% Spanish 6% Russian/Polish/Slavic 2%

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: ▼ -75.01%
• Current HPI: 261.4188
• Rent YoY: —
• Metro: Torrington, 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

+78.6% since first listed

9 events — show timeline

• 2026-05-25 Pending — Smart MLS
• 2026-05-12 Listed $499,990 Smart MLS
• 2023-08-14 Sold (MLS) $376,500 Smart MLS
• 2023-06-24 Pending — Smart MLS
• 2023-06-16 Listed $379,000 Smart MLS
• 2010-12-28 Listing Removed — Smart MLS
• 2009-07-30 Listed $269,900 Smart MLS
• 2009-05-04 Listing Removed — Smart MLS
• 2008-08-04 Listed $279,900 Smart MLS

Property tax history

+1.3%/yr

Latest (2023): $5,164 · +5.5% YoY. Source: county tax records.