975 Meriden Rd #54 · Waterbury, CT 06705

$175,000

2 bd · 1.5 ba · 1,028 sqft · Condo public records · 20 Days on market

Built 1987 $230/mo HOA · 12% of rent

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Why this score? — see what drove the D 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 +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unit boasts new carpet, & vinyl floors. New appliances, air conditoners & hot water heater. Popular "east end" close to shopping, i84, rt8, i691 & 91, end unit, more owners than renters. Move in condition...Nothing to do.

Key facts

• Public transit
• Local shopping
• Restaurants

Tags

• QUICK ACCESS TO MAJOR HIGHWAYS
• PUBLIC TRANSIT
• WELL MAINTAINED GROUNDS
• LOCAL SHOPPING
• RESTAURANTS

Property features AI

Finance

• Other: Part of a 123-unit community
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee of $230; HOA covers grounds maintenance, trash pickup, snow removal, and water; Professional off-site property management; Pets allowed with possible restrictions

Exterior

• Parking: Paved off-street assigned parking (1 space)
• Utilities: Public water connected; Public sewer connected; Electric service for heat and hot water
• Home design: Condominium; End unit; Condo/Co-op for sale
• Construction: Frame and brick construction; White exterior color
• Exterior features: Vinyl siding; Part of the Chelsea Square complex; Nearby amenities include basketball court, commuter bus, golf course, park, public recreation facilities, public transportation, tennis courts, and walkable bus lines

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms (unit spans 2 levels; laundry on upper level)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Baseboard heating (electric); Wall unit cooling; Electric hot water
• Interior features: Open floor plan; Attic with storage space and pull-down stairs; No basement
• Laundry & utility: Laundry room on upper level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-7 ($-88/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (0.7% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.2% 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: H. S. Chase School (math 15% / reading 21%, grade F, #456 of 553 statewide, top 83%, 629 students, 73% FRL); Michael F. Wallace Middle School (math 13% / reading 28%, grade F, #160 of 175 statewide, top 91%, 1,062 students, 86% FRL); Crosby High School (math 2% / reading 17%, grade F, #187 of 194 statewide, top 96%, 1,400 students, 84% FRL).
• Market conditions: Rents rising (+3.4%/yr); 82 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• This rent runs 42% of the median local income ($54k/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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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 $75k; list at $175k implies a 133% gain — meaningful room to come down on a strong offer.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.09% ✓
• Cap rate: 6.24%
• Cash-on-cash: -0.18%
• DSCR: 0.99
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.43×
• Total profit: $-27,898
• Equity at exit: $26,093

10-year hold

• IRR: -6.5%
• Equity multiple: 0.57×
• Total profit: $-21,085
• Equity at exit: $15,131

Cash invested: $49,000 (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 06705

• Home prices YoY: -11.0%
• Rents YoY: 3.4%
• Active inventory: 82
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,902 high
• Mortgage (P&I): −$918
• Tax from tax record: −$290 /mo · $3,475/yr
• Insurance: −$73
• HOA: −$230
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $-7

Break-even live

Break-even rent $1,912

Max offer price $173,711

Occupancy floor 95%

Sensitivity live

Price	-10% $92	-5% $42	+0% $-7	+5% $-57	+10% $-106
Rent	-10% $-158	-5% $-82	+0% $-7	+5% $68	+10% $143
Rate	-1.0pp $81	-0.5pp $37	base $-7	+0.5pp $-53	+1.0pp $-99

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Manchester Ave Waterbury, CT	3.0	1.5	1074	$3,000	$2.79	23d	1	0.14mi
37 Alexander Ave Unit 1 Waterbury, CT	2.0	1.0	750	$1,650	$2.20	4d	1	0.15mi
22 Leaf Ave Unit 2nd Floor Waterbury, CT	2.0	1.0	1200	$1,650	$1.38	4d	1	0.21mi
87 Worcester Ave Waterbury, CT	3.0	1.0	1252	$2,300	$1.84	21d	1	0.29mi
64 Wislock St Waterbury, CT	3.0	2.0	1040	$2,500	$2.40	4d	1	0.37mi
22 Coral Dr Waterbury, CT	1.0–3.0	1.0–1.5	1005	$1,602	$1.59	3d	6	0.50mi
248 Birchfield Dr Unit 53-1 Waterbury, CT	2.0	1.0	768	$1,500	$1.95	45d	1	0.59mi
248 Birchfield Dr Unit 258-4 Waterbury, CT	2.0	1.0	792	$1,475	$1.86	45d	1	0.59mi
329 Schraffts Dr Waterbury, CT	1.0	1.0	800	$1,650	$2.06	45d	1	0.70mi
82 Middlefield Ave Unit 2nd Floor Waterbury, CT	3.0	1.0	1216	$1,900	$1.56	23d	1	0.71mi
1358 Meriden Rd Unit 1368-13 Wolcott, CT	2.0	1.0	901	$1,550	$1.72	45d	1	0.73mi
1358 Meriden Rd Unit 1358-15 Wolcott, CT	1.0	1.0	740	$1,250	$1.69	5d	1	0.73mi
1358 Meriden Rd Unit 1368-09 Wolcott, CT	1.0	1.0	740	$1,250	$1.69	45d	1	0.73mi
300 Schraffts Dr Waterbury, CT	1.0–2.0	1.0–2.0	1075	$1,850	$1.72	4d	2	0.81mi
107 Blanchard St Waterbury, CT	2.0	1.0	700	$1,700	$2.43	21d	1	0.91mi
174 Stonefield Dr #41 Waterbury, CT	3.0	1.5	1354	$2,450	$1.81	4d	1	0.93mi
217 Scott Rd Unit 1-B Waterbury, CT	1.0	1.0	750	$1,275	$1.70	45d	1	1.06mi
217 Scott Rd Waterbury, CT	1.0	1.0	750	$1,275	$1.70	45d	1	1.06mi
75 Alma St Waterbury, CT	3.0	1.0	1143	$1,850	$1.62	45d	1	1.27mi
124 Meriden Rd Waterbury, CT	1.0	1.0	900	$1,100	$1.22	45d	1	1.38mi
100 Meriden Rd Unit A Waterbury, CT	2.0	1.0	1044	$1,850	$1.77	16d	1	1.42mi
1720 E Main St Unit 2nd Floor Waterbury, CT	2.0	1.0	1026	$1,350	$1.32	45d	1	1.43mi
1720 E Main St Unit 1st Floor Waterbury, CT	2.0	1.0	1026	$1,250	$1.22	45d	1	1.43mi

HOA detail condo

• Monthly dues: $230 · $2,760/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $175,000 Active 20 DOM
2. 2026-06-18
   days on market $175,000 Active 17 DOM
3. 2026-06-17
   days on market $175,000 Active 16 DOM
4. 2026-06-16
   days on market $175,000 Active 15 DOM
5. 2026-06-15
   days on market $175,000 Active 14 DOM
6. 2026-06-14
   days on market $175,000 Active 12 DOM
7. 2026-06-13
   days on market $175,000 Active 11 DOM
8. 2026-06-10
   days on market $175,000 Active 9 DOM
9. 2026-06-09
   days on market $175,000 Active 8 DOM
10. 2026-06-08
    days on market $175,000 Active 7 DOM
11. 2026-06-07
    days on market $175,000 Active 6 DOM
12. 2026-06-05
    days on market $175,000 Active 3 DOM
13. 2026-06-03
    days on market $175,000 Active 2 DOM
14. 2026-06-01
    remarks 421-char remark
15. 2026-06-01
    listed $175,000 Active 1 DOM

ⓘ 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: $3,475 · $290/mo
• Projected year-2 tax: $3,610 · $301/mo
• Expected delta: +$135/yr (+$11/mo · 3.9%)

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

Taxation est. · year 1

• Rental income: $22,829
• − Mortgage interest: −$9,803
• − Property taxes: −$3,475
• − Insurance: −$875
• − Repairs & maintenance: −$1,826
• − Management: −$1,826
• − HOA: −$2,760
• − Depreciation: −$5,091
• Taxable loss: −$2,827
• Est. tax savings @ 24.0%: +$679
• After-tax cash flow: $591/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): 25,266
• Household income: $53,954
• Rent vs Own: 48.8% rent · 51.2% own
• Severe rent burden: 1690.0

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 34% Hispanic / Latino 34% Black 22% Two or more races 14% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 22% Dominican 3%
• Common ancestry: Lithuanian 6% Hispanic 3% Romanian 2%
• Foreign-born: 19% · Canada, Jamaica, China
• Languages at home: 66% English-only · Spanish 22% Other Indo-European 6% French/Haitian/Cajun 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: ▼ -37.50%
• Current HPI: 304.4948
• Rent YoY: ▲ 3.37%
• 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

+121.8% since first listed

14 events — show timeline

• 2026-06-01 Listed $175,000 Smart MLS
• 2021-08-25 Sold (Public Records) $75,000 Public Records
• 2009-03-20 Sold (Public Records) $87,000 Public Records
• 2009-03-18 Sold (MLS) $88,000 Smart MLS
• 2009-01-20 Listed $92,900 Smart MLS
• 2008-02-29 Listing Removed — Smart MLS
• 2008-01-25 Listed $94,000 Smart MLS
• 2008-01-18 Listing Removed — Smart MLS
• 2008-01-02 Listing Removed — Smart MLS
• 2008-01-02 Listed $98,000 Smart MLS
• 2007-10-27 Listed $93,900 Smart MLS
• 2007-10-26 Listing Removed — Smart MLS
• 2007-08-25 Listed $103,900 Smart MLS
• 1988-07-28 Sold (Public Records) $78,900 Public Records

Property tax history

+4.2%/yr

Latest (2023): $3,475 · +60.4% YoY. Source: county tax records.