92 Angel Dr Apt C · Waterbury, CT 06708

$149,900

2 bd · 1.5 ba · 1,110 sqft · Condo public records · 161 Days on market

Built 1979 $135/sqft · 18% above area Est $127k · 18% over $301/mo HOA · 15% of rent

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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 +22.3/30.0
• 1% rule +8.5/10.0
• DSCR +7.1/10.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice unit. Another great opportunity for investors. Excellent tenant $1,250 per month. In place since 2012. Conveniently located to major highways, shopping and medical facilities. Lower level is partially finished.

Key facts

• $301 HOA
• Built 1979
• Listed 161 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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.
• 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); 121 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 $1k 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 $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 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: 1.35% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.03%
• DSCR: 1.31
• GRM: 6.2

CMA / ARV

• ARV (median comp): $126,636
• List price: $149,900
• Delta: 18.37%
• 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: 1.3%
• Equity multiple: 1.05×
• Total profit: $2,275
• Equity at exit: $22,351

10-year hold

• IRR: 16.2%
• Equity multiple: 2.71×
• Total profit: $71,659
• Equity at exit: $12,961

Cash invested: $41,972 (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 06708

• Rents YoY: 9.8%
• Active inventory: 121
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,021 high
• Mortgage (P&I): −$786
• Tax from tax record: −$201 /mo · $2,409/yr
• Insurance: −$62
• HOA: −$301
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $246

Break-even live

Break-even rent $1,709

Max offer price $149,900

Occupancy floor 83%

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: $37,475
• Closing costs: $4,497
• 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	0.27mi
151 Martone St Waterbury, CT	3.0	2.0	1280	$2,600	$2.03	3d	1	0.34mi
24 Martone St Unit 1st Fl Waterbury, CT	3.0	1.0	1000	$2,200	$2.20	3d	1	0.38mi
44 Armand Dr Apt E Waterbury, CT	2.0	1.0	800	$1,500	$1.88	3d	1	0.39mi
40 Whitewood Rd Unit 26 Waterbury, CT	2.0	1.0	900	$1,450	$1.61	19d	1	0.40mi
41 Sunnybrook Bnd Waterbury, CT	3.0	1.0	1144	$2,750	$2.40	44d	1	0.42mi
148 Falls Ter Watertown, CT	1.0–2.0	1.0–1.5	840	$2,135	$2.54	2d	1	0.89mi
12 Hillcrest Ave Unit 3 Watertown, CT	3.0	1.0	1000	$1,450	$1.45	11d	1	1.01mi
20 Georges Ct Waterbury, CT	3.0	2.5	1321	$3,500	$2.65	3d	1	1.09mi
303 Bunker Hill Ave Waterbury, CT	3.0	1.0	1100	$2,500	$2.27	44d	1	1.12mi
304 Buckingham St Oakville, CT	2.0	1.0	840	$1,700	$2.02	44d	1	1.13mi
132 Bunker Hill Ave Unit 3 Waterbury, CT	3.0	1.0	1130	$1,800	$1.59	3d	1	1.40mi
109 Bunker Hill Ave Waterbury, CT	2.0	1.0	900	$1,700	$1.89	19d	1	1.43mi
82 Bunker Hill Ave Unit 3 Waterbury, CT	3.0	1.0	1275	$2,100	$1.65	23d	1	1.48mi
82 Bunker Hill Ave Waterbury, CT	3.0	1.0	1275	$2,250	$1.76	23d	1	1.48mi
185 Monmouth Ave Waterbury, CT	2.0	1.0	900	$1,500	$1.67	2d	1	1.49mi

HOA detail condo

• Monthly dues: $301 · $3,612/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-18
   days on market $149,900 Active 161 DOM
2. 2026-06-17
   days on market $149,900 Active 160 DOM
3. 2026-06-16
   days on market $149,900 Active 159 DOM
4. 2025-12-22
   listed $149,900 Active 220-char remark

   Show marketing remark (220 chars)

   Very nice unit. Another great opportunity for investors. Excellent tenant $1,250 per month. In place since 2012. Conveniently located to major highways, shopping and medical facilities. Lower level is partially finished.

ⓘ 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: $2,409 · $201/mo
• Projected year-2 tax: $2,808 · $234/mo
• Expected delta: +$399/yr (+$33/mo · 16.6%)

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

Taxation est. · year 1

• Rental income: $24,246
• − Mortgage interest: −$8,397
• − Property taxes: −$2,409
• − Insurance: −$750
• − Repairs & maintenance: −$1,940
• − Management: −$1,940
• − HOA: −$3,612
• − Depreciation: −$4,361
• Taxable income: $839
• Est. tax owed @ 24.0%: −$201
• After-tax cash flow: $2,750/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

1 event — show timeline

• 2025-12-22 Listed $149,900 Smart MLS

Property tax history

+6.5%/yr

Latest (2023): $2,409 · +126.6% YoY. Source: county tax records.