56 Angel Dr Unit C · Waterbury, CT 06708

$124,999

2 bd · 1.5 ba · 1,100 sqft · Condo public records · 143 Days on market

Built 1979 $114/sqft · at area comps Est $125k · at est. $270/mo HOA · 13% of rent

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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 +29.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.4/15.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Super spacious unit and very well maintained. Finished basement is being used as a bedroom. Conveniently located to major highways, shopping and medical facilities. $1,800 rent income. Great opportunity for investors.

Key facts

• $270 HOA
• Built 1979
• Listed 142 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: 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 fast (+9.8%/yr); 123 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• This rent runs 36% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $125k implies a 400% gain — meaningful room to come down on a strong offer.

Recommended offer $109,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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.
10. 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.
11. 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: 1.62% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.66%
• DSCR: 1.65
• GRM: 5.1

CMA / ARV

• ARV (median comp): $124,643
• List price: $124,999
• Delta: 20.26%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.51×
• Total profit: $17,914
• Equity at exit: $18,638

10-year hold

• IRR: 25.3%
• Equity multiple: 3.87×
• Total profit: $100,340
• Equity at exit: $10,808

Cash invested: $35,000 (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 06708

• Rents YoY: 9.8%
• Active inventory: 123
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,028 high
• Mortgage (P&I): −$656
• Tax from tax record: −$197 /mo · $2,363/yr
• Insurance: −$52
• HOA: −$270
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $428

Break-even live

Break-even rent $1,487

Max offer price $124,999

Occupancy floor 74%

Sensitivity live

Price	-10% $498	-5% $463	+0% $428	+5% $392	+10% $357
Rent	-10% $267	-5% $347	+0% $428	+5% $508	+10% $588
Rate	-1.0pp $490	-0.5pp $459	base $428	+0.5pp $395	+1.0pp $362

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
244 Oakville Ave Unit F Waterbury, CT	3.0	1.5	1113	$2,000	$1.80	3d	1	0.21mi
151 Martone St Waterbury, CT	3.0	2.0	1280	$2,600	$2.03	3d	1	0.26mi
24 Martone St Unit 1st Fl Waterbury, CT	3.0	1.0	1000	$2,200	$2.20	3d	1	0.30mi
40 Whitewood Rd Unit 26 Waterbury, CT	2.0	1.0	900	$1,450	$1.61	20d	1	0.31mi
41 Sunnybrook Bnd Waterbury, CT	3.0	1.0	1144	$2,750	$2.40	45d	1	0.33mi
44 Armand Dr Apt E Waterbury, CT	2.0	1.0	800	$1,500	$1.88	3d	1	0.33mi
148 Falls Ter Watertown, CT	1.0–2.0	1.0–1.5	840	$2,135	$2.54	3d	1	0.95mi
20 Georges Ct Waterbury, CT	3.0	2.5	1321	$3,500	$2.65	3d	1	1.01mi
303 Bunker Hill Ave Waterbury, CT	3.0	1.0	1100	$2,500	$2.27	45d	1	1.04mi
12 Hillcrest Ave Unit 3 Watertown, CT	3.0	1.0	1000	$1,450	$1.45	12d	1	1.10mi
304 Buckingham St Oakville, CT	2.0	1.0	840	$1,700	$2.02	45d	1	1.20mi
132 Bunker Hill Ave Unit 3 Waterbury, CT	3.0	1.0	1130	$1,800	$1.59	4d	1	1.32mi
109 Bunker Hill Ave Waterbury, CT	2.0	1.0	900	$1,700	$1.89	20d	1	1.35mi
82 Bunker Hill Ave Waterbury, CT	3.0	1.0	1275	$2,250	$1.76	24d	1	1.40mi
82 Bunker Hill Ave Unit 3 Waterbury, CT	3.0	1.0	1275	$2,100	$1.65	24d	1	1.40mi
185 Monmouth Ave Waterbury, CT	2.0	1.0	900	$1,500	$1.67	3d	1	1.46mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-21
   pricedays on market $124,999 Active 143 DOM
2. 2026-06-18
   days on market $149,900 Active 140 DOM
3. 2026-06-17
   days on market $149,900 Active 139 DOM
4. 2026-06-16
   days on market $149,900 Active 138 DOM
5. 2026-01-12
   listed $149,900 Active 217-char remark

   Show marketing remark (217 chars)

   Super spacious unit and very well maintained. Finished basement is being used as a bedroom. Conveniently located to major highways, shopping and medical facilities. $1,800 rent income. Great opportunity for investors.

6. 2017-01-24
   soldstatus $25,000
7. 2017-01-23
   soldstatus $25,000 161-char remark

   Show marketing remark (161 chars)

   CUTE 2 BEDROOM TOWNHOUSE READY TO MOVE IN. CLOSE TO SHOPPING AND BUS LINE. SPECIAL FEATURES INCLUDE NEWER KITCHEN & APPLIANCES. GREAT INVESTMENT OPPORTUNITY.

8. 2016-12-06
   listed $29,900 161-char remark

   Show marketing remark (161 chars)

   CUTE 2 BEDROOM TOWNHOUSE READY TO MOVE IN. CLOSE TO SHOPPING AND BUS LINE. SPECIAL FEATURES INCLUDE NEWER KITCHEN & APPLIANCES. GREAT INVESTMENT OPPORTUNITY.

9. 2016-12-06
   historical 161-char remark

   Show marketing remark (161 chars)

   CUTE 2 BEDROOM TOWNHOUSE READY TO MOVE IN. CLOSE TO SHOPPING AND BUS LINE. SPECIAL FEATURES INCLUDE NEWER KITCHEN & APPLIANCES. GREAT INVESTMENT OPPORTUNITY.

10. 2006-02-27
    soldstatus $52,500
11. 2006-01-25
    listed $63,000

ⓘ 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: $2,363 · $197/mo
• Projected year-2 tax: $2,519 · $210/mo
• Expected delta: +$156/yr (+$13/mo · 6.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,335
• − Mortgage interest: −$7,002
• − Property taxes: −$2,363
• − Insurance: −$625
• − Repairs & maintenance: −$1,947
• − Management: −$1,947
• − HOA: −$3,240
• − Depreciation: −$3,636
• Taxable income: $3,575
• Est. tax owed @ 24.0%: −$858
• After-tax cash flow: $4,272/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): 29,594
• Household income: $67,364
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 1276.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 43% Hispanic / Latino 33% Black 17% Two or more races 13% Asian 2%
• Hispanic origin (detail): Puerto Rican 17% Dominican 8%
• Common ancestry: Romanian 2% Russian 2% Estonian 2%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 64% English-only · Spanish 23% Other Indo-European 8% French/Haitian/Cajun 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: ▼ -297.81%
• Current HPI: 281.1446
• Rent YoY: ▲ 9.75%
• 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

+137.9% since first listed

7 events — show timeline

• 2026-01-12 Listed $149,900 Smart MLS
• 2017-01-24 Sold (Public Records) $25,000 Public Records
• 2017-01-23 Sold (MLS) $25,000 Smart MLS
• 2016-12-06 Listing Removed — Smart MLS
• 2016-12-06 Listed $29,900 Smart MLS
• 2006-02-27 Sold (MLS) $52,500 Smart MLS
• 2006-01-25 Listed $63,000 Smart MLS

Property tax history

+6.5%/yr

Latest (2023): $2,363 · +127.0% YoY. Source: county tax records.