51 Edson Ave · Waterbury, CT 06705

$450,000

6 bd · 3.0 ba · 2,908 sqft · MultiFamily public records · 149 Days on market

Built 1915 $155/sqft · 11% above area Est $404k · 11% over

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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 +19.2/30.0
• 1% rule +6.2/10.0
• DSCR +6.0/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Schools +1.5/10.0
• 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

3 FAMILY IN THE EAST END OF WATREBURY. FULLY RENTED WITH LONG TERM TENANTS AND ONE UNIT VACANT. ALL SEPERATE UTILITIES. 4 CAR GARAGE FULLY RENTED AT $475 PER MONTH. GENEROUS SIZED ROOMS OFFER ABUNDANT LIVING SPACE. TENANTS ARE VERY HAPPY THERE. CLOSE TO SHOPPING. RESTAURANTS AND A PARK. ALSO CLOSE TO HIGHWAYS. HOUSE WAS TOTALY RENOVATERD WITHIN THE LAST 10 YEARS. FAIRLY NEW ROOF AND NEW WINDOWS. EXCELLENT INVESTMENT PROPERTY. .

Key facts

• 4 garage spots
• Built 1915
• Listed 149 days

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive. Per door: $161/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $396k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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; 1 comparable units currently listed for rent nearby; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $5,040/mo this rent would consume 112% of the median local household income ($54k/yr) (locally 1690% 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 $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 6y 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 $250k; list at $450k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1915 — 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 $396,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.12% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.60%
• DSCR: 1.20
• GRM: 7.4

CMA / ARV

• ARV (median comp): $404,280
• List price: $450,000
• Delta: 11.31%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Eastwood Ave	0.11mi	6/3.0	2,952 (+2%)	3mo	$465,000	$158	90
37 Eastwood Ave	0.10mi	6/3.0	3,057 (+5%)	9mo	$350,000	$114	79
68 Englewood Ave	0.21mi	6/3.0	3,024 (+4%)	7mo	$420,000	$139	77
68 Meriden Rd	0.16mi	6/3.0	3,150 (+8%)	13mo	$310,000	$98	68
22 Knoll St	0.21mi	6/3.0	3,241 (+12%)	4mo	$515,000	$159	67
225 Meriden Rd	0.28mi	5/2.0 (-1)	2,686 (-8%)	2mo	$380,000	$141	64
18 Eastwood Ave	0.13mi	6/3.0	2,616 (-10%)	18mo	$415,000	$159	62
14 Niagara St	0.38mi	6/3.0	3,156 (+8%)	18mo	$390,000	$124	53
91 Alma St	0.17mi	7/— (+1)	3,198 (+10%)	23mo	$415,000	$130	51
24 Cedar Ave	0.72mi	6/3.5	3,060 (+5%)	20mo	$420,000	$137	39

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 · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.68×
• Total profit: $-39,974
• Equity at exit: $67,096

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $13,848
• Equity at exit: $38,908

Cash invested: $126,000 (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: 22.3×

Monthly cashflow live

• Estimated rent: $5,040 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$952 /mo · $11,418/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,058
• Net cashflow: $483

Break-even live

Break-even rent $4,429

Max offer price $450,000

Occupancy floor 85%

Sensitivity live

Price	-10% $737	-5% $610	+0% $483	+5% $355	+10% $228
Rent	-10% $85	-5% $284	+0% $483	+5% $682	+10% $881
Rate	-1.0pp $709	-0.5pp $597	base $483	+0.5pp $366	+1.0pp $248

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,040
Total (3 units)			$5,040

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Niagara St Waterbury, CT	6.0	3.0	3156	$1,700	$0.54	5d	1	0.38mi

Listing history 42 events

1. 2026-06-21
   days on market $450,000 Active 149 DOM
2. 2026-06-18
   days on market $450,000 Active 146 DOM
3. 2026-06-17
   days on market $450,000 Active 145 DOM
4. 2026-06-16
   days on market $450,000 Active 144 DOM
5. 2026-06-15
   days on market $450,000 Active 143 DOM
6. 2026-06-14
   days on market $450,000 Active 141 DOM
7. 2026-06-13
   days on market $450,000 Active 140 DOM
8. 2026-06-10
   days on market $450,000 Active 138 DOM
9. 2026-06-09
   days on market $450,000 Active 137 DOM
10. 2026-06-08
    days on market $450,000 Active 136 DOM
11. 2026-06-07
    days on market $450,000 Active 135 DOM
12. 2026-06-05
    days on market $450,000 Active 132 DOM
13. 2026-06-03
    days on market $450,000 Active 131 DOM
14. 2026-06-03
    days on market $450,000 Active 130 DOM
15. 2026-06-01
    days on market $450,000 Active 129 DOM
16. 2026-05-31
    days on market $450,000 Active 128 DOM
17. 2026-01-19
    listed $450,000 Active 431-char remark

    Show marketing remark (431 chars)

    3 FAMILY IN THE EAST END OF WATREBURY. FULLY RENTED WITH LONG TERM TENANTS AND ONE UNIT VACANT. ALL SEPERATE UTILITIES. 4 CAR GARAGE FULLY RENTED AT $475 PER MONTH. GENEROUS SIZED ROOMS OFFER ABUNDANT LIVING SPACE. TENANTS ARE VERY HAPPY THERE. CLOSE TO SHOPPING. RESTAURANTS AND A PARK. ALSO CLOSE TO HIGHWAYS. HOUSE WAS TOTALY RENOVATERD WITHIN THE LAST 10 YEARS. FAIRLY NEW ROOF AND NEW WINDOWS. EXCELLENT INVESTMENT PROPERTY. .

18. 2023-02-01
    soldstatus $250,000
19. 2023-01-30
    soldstatus $250,000 Closed 410-char remark

    Show marketing remark (410 chars)

    3 FAMILY IN THE EAST END OF WATREBURY. FULLY RENTED WITH LONG TERM TENANTS. ALL SEPERATE UTILITIES. 4 CAR GARAGE FULLY RENTED AT $400 PER MONTH. GENEROUS SIZED ROOMS OFFER ABUNDANT LIVING SPACE. TENANTS ARE VERY HAPPY THERE. CLOSE TO SHOPPING. RESTAURANTS AND A PARK. ALSO CLOSE TO HIGHWAYS. HOUSE WAS TOTALY RENOVATERD WITHIN THE LAST 10 YEARS. FAIRLY NEW ROOF AND NEW WINDOWS. EXCELLENT INVESTMENT PROPERTY..

20. 2023-01-10
    status Under Contract 410-char remark

    Show marketing remark (410 chars)

    3 FAMILY IN THE EAST END OF WATREBURY. FULLY RENTED WITH LONG TERM TENANTS. ALL SEPERATE UTILITIES. 4 CAR GARAGE FULLY RENTED AT $400 PER MONTH. GENEROUS SIZED ROOMS OFFER ABUNDANT LIVING SPACE. TENANTS ARE VERY HAPPY THERE. CLOSE TO SHOPPING. RESTAURANTS AND A PARK. ALSO CLOSE TO HIGHWAYS. HOUSE WAS TOTALY RENOVATERD WITHIN THE LAST 10 YEARS. FAIRLY NEW ROOF AND NEW WINDOWS. EXCELLENT INVESTMENT PROPERTY..

21. 2022-08-23
    historical Under Contract - Continue to Show 410-char remark

    Show marketing remark (410 chars)

    3 FAMILY IN THE EAST END OF WATREBURY. FULLY RENTED WITH LONG TERM TENANTS. ALL SEPERATE UTILITIES. 4 CAR GARAGE FULLY RENTED AT $400 PER MONTH. GENEROUS SIZED ROOMS OFFER ABUNDANT LIVING SPACE. TENANTS ARE VERY HAPPY THERE. CLOSE TO SHOPPING. RESTAURANTS AND A PARK. ALSO CLOSE TO HIGHWAYS. HOUSE WAS TOTALY RENOVATERD WITHIN THE LAST 10 YEARS. FAIRLY NEW ROOF AND NEW WINDOWS. EXCELLENT INVESTMENT PROPERTY..

22. 2022-08-10
    listed $250,000 Active 410-char remark

    Show marketing remark (410 chars)

    3 FAMILY IN THE EAST END OF WATREBURY. FULLY RENTED WITH LONG TERM TENANTS. ALL SEPERATE UTILITIES. 4 CAR GARAGE FULLY RENTED AT $400 PER MONTH. GENEROUS SIZED ROOMS OFFER ABUNDANT LIVING SPACE. TENANTS ARE VERY HAPPY THERE. CLOSE TO SHOPPING. RESTAURANTS AND A PARK. ALSO CLOSE TO HIGHWAYS. HOUSE WAS TOTALY RENOVATERD WITHIN THE LAST 10 YEARS. FAIRLY NEW ROOF AND NEW WINDOWS. EXCELLENT INVESTMENT PROPERTY..

23. 2022-01-04
    historical
24. 2021-12-13
    price $250,000
25. 2021-11-24
    status Active
26. 2021-11-18
    historical Under Contract - Continue to Show
27. 2021-11-16
    listed $260,000 Active
28. 2021-11-10
    historical
29. 2021-10-25
    price $199,000
30. 2021-10-07
    listed $220,000 Active
31. 2021-06-08
    historical
32. 2021-04-27
    price $199,000
33. 2021-03-17
    listed $219,900 Active
34. 2020-09-16
    historical
35. 2020-07-31
    historical
36. 2020-06-14
    price $179,900
37. 2020-06-05
    status Active
38. 2020-05-30
    listed $189,000 Active
39. 2020-05-28
    historical
40. 2020-05-22
    listed $379,000 Active
41. 1988-05-23
    soldstatus $165,900
42. 1987-05-26
    soldstatus $145,000

ⓘ 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: $11,418 · $952/mo
• Projected year-2 tax: $11,418 · $952/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥96°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: $60,480
• − Mortgage interest: −$25,207
• − Property taxes: −$11,418
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,838
• − Management: −$4,838
• − Depreciation: −$13,091
• Taxable loss: −$1,163
• Est. tax savings @ 24.0%: +$279
• After-tax cash flow: $6,072/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

+210.3% since first listed

26 events — show timeline

• 2026-01-19 Listed $450,000 Fizber.com
• 2023-02-01 Sold (Public Records) $250,000 Public Records
• 2023-01-30 Sold (MLS) $250,000 Smart MLS
• 2023-01-10 Pending — Smart MLS
• 2022-08-23 Contingent — Smart MLS
• 2022-08-10 Listed $250,000 Smart MLS
• 2022-01-04 Listing Removed — Smart MLS
• 2021-12-13 Price Changed $250,000 Smart MLS
• 2021-11-24 Relisted — Smart MLS
• 2021-11-18 Contingent — Smart MLS
• 2021-11-16 Listed $260,000 Smart MLS
• 2021-11-10 Listing Removed — Smart MLS
• 2021-10-25 Price Changed $199,000 Smart MLS
• 2021-10-07 Listed $220,000 Smart MLS
• 2021-06-08 Listing Removed — Smart MLS
• 2021-04-27 Price Changed $199,000 Smart MLS
• 2021-03-17 Listed $219,900 Smart MLS
• 2020-09-16 Listing Removed — Smart MLS
• 2020-07-31 Listing Removed — Smart MLS
• 2020-06-14 Price Changed $179,900 Smart MLS
• 2020-06-05 Relisted — Smart MLS
• 2020-05-30 Listed $189,000 Smart MLS
• 2020-05-28 Listing Removed — Smart MLS
• 2020-05-22 Listed $379,000 Smart MLS
• 1988-05-23 Sold (Public Records) $165,900 Public Records
• 1987-05-26 Sold (Public Records) $145,000 Public Records

Property tax history

+7.4%/yr

Latest (2023): $11,418 · +87.3% YoY. Source: county tax records.