141 Draher Ave · Waterbury, CT 06708

$489,900

9 bd · 3.0 ba · 3,807 sqft · MultiFamily public records · 49 Days on market

Built 1920 0.31 ac lot Est $453k · 8% 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 +22.8/30.0
• 1% rule +7.3/10.0
• DSCR +7.3/10.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• ARV discount +3.8/15.0
• Condition / age +2.5/5.0
• 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

Outstanding Town Plot 3-Family w/ 3 car-garage! Perfect for Owner-Occupants or Investors! This spacious multi-family property offers a turn-key investment opportunity with three oversized units, each featuring 4 bedrooms, 1 bath, an eat-in kitchen, and a generous living room. Tenants enjoy separate, tenant-paid utilities, including electric heat and hot water, with individual electric panels already in place. Exterior highlights include vinyl siding and both driveway and rear off-street parking for added convenience. Existing tenants provide a stable income stream for immediate cash flow. Located in highly desirable Town Plot, this property is close to public transportation, highway access,

Key facts

• Near schools
• Highway access
• Vinyl siding

Tags

• SEPARATE TENANT-PAID UTILITIES
• VINYL SIDING
• CLOSE TO PUBLIC TRANSPORTATION
• HIGHWAY ACCESS
• NEAR PARKS
• NEAR SCHOOLS

Property features AI

Exterior

• Parking: Paved off-street parking; 3 parking spaces
• Utilities: Public water connected; Public sewer connected; Hot water by natural gas and electric
• Home design: Multi-family property (3-family)
• Construction: Frame construction; Masonry and stone foundation; Asphalt shingle roof; White exterior color
• Exterior features: Sloping lot; Vinyl siding

Interior

• Bedrooms: 12 bedrooms total
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heat; Heat fueled by electric and natural gas; Window units for cooling
• Interior features: 18 total rooms; Full unfinished basement; Has attic with crawl space and hatch access; Window air conditioning units
• Laundry & utility: Some units have washer/dryer; Some laundry hookups available

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/1.0-bath units multifamily listed at $490k.

Deal economics

• At list price, monthly cash flow is $849 ($10k/yr) — positive. Per door: $283/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $490k).
• Recommended offer: $475k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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; 1 comparable units currently listed for rent nearby; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).
• At $6,022/mo this rent would consume 107% of the median local household income ($67k/yr) (locally 1276% 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $137k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($475k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y 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 $70k; list at $490k implies a 601% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1920 — 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 $475,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% 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 1920 — 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. 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: 1.23% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.42%
• DSCR: 1.33
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $453,033
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
91 Draher St	0.08mi	9/3.0	3,699 (-3%)	12mo	$425,000	$115	82
83 Vernon St	0.49mi	9/3.0	3,753 (-1%)	8mo	$520,000	$139	68
13 Summit St	0.32mi	9/4.0	3,814 (+0%)	22mo	$395,000	$104	63
929 Bank St	0.45mi	9/3.0	3,834 (+1%)	22mo	$420,000	$110	60
131 Sunnyside Ave	0.13mi	9/3.0	3,420 (-10%)	23mo	$425,000	$124	58
684 Wilson St	0.69mi	9/3.0	3,924 (+3%)	15mo	$500,000	$127	50
400 Congress Ave	0.66mi	9/3.0	4,140 (+9%)	14mo	$440,000	$106	43
63 W Liberty St	0.61mi	9/4.0	3,250 (-15%)	1mo	$590,000	$182	42
675 Highland Ave	0.64mi	8/4.0 (-1)	4,269 (+12%)	0mo	$625,000	$146	40
23 W Clay St	0.65mi	10/6.0 (+1)	4,023 (+6%)	12mo	$200,000	$50	34
23 Highland Ave	0.58mi	9/3.0	3,339 (-12%)	23mo	$350,000	$105	33
6 Grove Ct	0.73mi	9/5.0	3,454 (-9%)	12mo	$410,000	$119	32

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $6,904
• Equity at exit: $73,046

10-year hold

• IRR: 15.8%
• Equity multiple: 2.62×
• Total profit: $222,136
• Equity at exit: $42,358

Cash invested: $137,172 (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: 20.3×

Monthly cashflow live

• Estimated rent: $6,022 high
• Mortgage (P&I): −$2,569
• Tax from tax record: −$1,136 /mo · $13,626/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,265
• Net cashflow: $849

Break-even live

Break-even rent $4,948

Max offer price $489,900

Occupancy floor 81%

Sensitivity live

Price	-10% $1,126	-5% $987	+0% $849	+5% $710	+10% $571
Rent	-10% $373	-5% $611	+0% $849	+5% $1,087	+10% $1,324
Rate	-1.0pp $1,095	-0.5pp $973	base $849	+0.5pp $722	+1.0pp $593

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	1	$6,021
Total (3 units)			$6,022

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: $122,475
• Closing costs: $14,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Coe St Waterbury, CT	9.0	3.0	3240	$1,800	$0.56	4d	1	1.14mi

Listing history 18 events

1. 2026-05-20
   status Under Contract
2. 2026-05-01
   historical Under Contract - Continue to Show
3. 2026-04-14
   status Active
4. 2026-04-14
   historical
5. 2026-04-01
   listed $489,900 Active
6. 2026-04-01
   historical
7. 2026-03-22
   price $489,900
8. 2026-02-18
   listed $499,900 Active
9. 2026-01-19
   historical
10. 2025-12-05
    listed $499,900 Active
11. 2011-07-05
    soldstatus $69,900
12. 2011-05-09
    listed $69,900
13. 2005-10-04
    soldstatus $255,000
14. 2005-10-04
    soldstatus $255,000
15. 2005-09-30
    soldstatus $255,000
16. 2005-08-11
    listed $264,900
17. 2004-02-20
    soldstatus $157,000
18. 2003-09-09
    listed $159,900

ⓘ 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: $13,626 · $1,136/mo
• Projected year-2 tax: $13,626 · $1,136/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 1/10 Low
• 🌡 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,264
• − Mortgage interest: −$27,442
• − Property taxes: −$13,626
• − Insurance: −$2,450
• − Repairs & maintenance: −$5,781
• − Management: −$5,781
• − Depreciation: −$14,252
• Taxable income: $2,933
• Est. tax owed @ 24.0%: −$704
• After-tax cash flow: $9,480/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

+206.4% since first listed

18 events — show timeline

• 2026-05-20 Pending — Smart MLS
• 2026-05-01 Contingent — Smart MLS
• 2026-04-14 Relisted — Smart MLS
• 2026-04-14 Listing Removed — Smart MLS
• 2026-04-01 Listed $489,900 Smart MLS
• 2026-04-01 Listing Removed — Smart MLS
• 2026-03-22 Price Changed $489,900 Smart MLS
• 2026-02-18 Listed $499,900 Smart MLS
• 2026-01-19 Listing Removed — Smart MLS
• 2025-12-05 Listed $499,900 Smart MLS
• 2011-07-05 Sold (MLS) $69,900 Smart MLS
• 2011-05-09 Listed $69,900 Smart MLS
• 2005-10-04 Sold (Public Records) $255,000 Public Records
• 2005-10-04 Sold (Public Records) $255,000 Public Records
• 2005-09-30 Sold (MLS) $255,000 Smart MLS
• 2005-08-11 Listed $264,900 Smart MLS
• 2004-02-20 Sold (MLS) $157,000 Smart MLS
• 2003-09-09 Listed $159,900 Smart MLS

Property tax history

+5.0%/yr

Latest (2023): $13,626 · +77.4% YoY. Source: county tax records.