31 Church St · Naugatuck, CT 06403

$429,000

6 bd · 3.0 ba · 2,066 sqft · MultiFamily public records · 10 Days on market

Built 1910 0.28 ac lot

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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 +27.9/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +5.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

Don't miss this excellent investment opportunity in the charming town of Beacon Falls. This three-family property offers functional layouts with comfortable living spaces and rental income potential. A newer roof provides peace of mind and helps reduce future maintenance costs, while separate utilities add convenience for both owner and tenants. The property also features ample off-street parking and a low-maintenance exterior. Conveniently located just minutes from Route 8, shopping, dining, and local amenities, it offers easy access to surrounding towns while maintaining Beacon Falls' small-town appeal. Whether you're expanding your portfolio or looking to owner-occupy while generating in

Key facts

• Separate utilities
• Newer roof
• Off-street parking

Tags

• THREE-FAMILY PROPERTY
• FUNCTIONAL LAYOUTS
• RENTAL INCOME POTENTIAL
• NEWER ROOF
• SEPARATE UTILITIES
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $429k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $442/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $429k).
• Cap rate 10.0% vs local median 3.0% in Naugatuck — 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 77/100 on livability (#42 in CT, #2,997 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute D-.
• Regional School District 16 (suburban): math 49% / reading 66% proficiency, ranked #50 of 153 in CT (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Laurel Ledge School (math 47% / reading 57%, grade C-, #213 of 553 statewide, top 41%, 303 students, 31% FRL); Long River Middle School (math 47% / reading 67%, grade B, #58 of 175 statewide, top 33%, 440 students, 21% FRL); Woodland Regional High School (math 47% / reading 62%, grade C-, #63 of 194 statewide, top 39%, 606 students, 19% FRL).
• Market conditions: 24 active listings in the ZIP; 502 units permitted in Naugatuck Valley Planning Region in 2024 (171 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $120k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 27y 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 $274k; list at $429k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $429,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.25%
• DSCR: 1.59
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 3.2%
• Equity multiple: 1.12×
• Total profit: $15,003
• Equity at exit: $63,965

10-year hold

• IRR: 12.8%
• Equity multiple: 2.02×
• Total profit: $121,959
• Equity at exit: $37,092

Cash invested: $120,120 (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 06403

• Home prices YoY: -24.9%
• Active inventory: 24
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $5,314 medium
• Mortgage (P&I): −$2,250
• Tax from tax record: −$443 /mo · $5,315/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,116
• Net cashflow: $1,327

Break-even live

Break-even rent $3,635

Max offer price $429,000

Occupancy floor 70%

Sensitivity live

Price	-10% $1,570	-5% $1,448	+0% $1,327	+5% $1,205	+10% $1,084
Rent	-10% $907	-5% $1,117	+0% $1,327	+5% $1,537	+10% $1,746
Rate	-1.0pp $1,543	-0.5pp $1,436	base $1,327	+0.5pp $1,216	+1.0pp $1,102

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,313
Total (3 units)			$5,314

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: $107,250
• Closing costs: $12,870
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-09
   status $429,000 Under Contract 10 DOM
2. 2026-06-08
   days on market $429,000 Active 10 DOM
3. 2026-06-07
   days on market $429,000 Active 9 DOM
4. 2026-06-03
   days on market $429,000 Active 5 DOM
5. 2026-06-03
   days on market $429,000 Active 4 DOM
6. 2026-06-01
   status $429,000 Active 3 DOM
7. 2026-03-13
   status Under Contract
8. 2026-02-25
   listed $429,000 Active
9. 2005-12-28
   soldstatus $274,500
10. 2005-12-23
    soldstatus $267,500
11. 2005-08-08
    listed $299,900
12. 2005-08-06
    historical
13. 2005-05-06
    listed $300,000
14. 2003-11-17
    historical
15. 2003-06-17
    listed $299,900
16. 2000-07-31
    soldstatus $170,000
17. 2000-07-28
    soldstatus $170,000
18. 1999-08-12
    listed $179,900

ⓘ 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: $5,315 · $443/mo
• Projected year-2 tax: $7,248 · $604/mo
• Expected delta: +$1,933/yr (+$161/mo · 36.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,768
• − Mortgage interest: −$24,031
• − Property taxes: −$5,315
• − Insurance: −$2,145
• − Repairs & maintenance: −$5,101
• − Management: −$5,101
• − Depreciation: −$12,480
• Taxable income: $9,594
• Est. tax owed @ 24.0%: −$2,303
• After-tax cash flow: $13,617/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: Regional School District 16
• NCES district ID: 0903538
• Math proficiency: 49% ▼ -12.00%
• Reading proficiency: 66% ▼ -5.00%
• Median HH income: $88,265
• Composite: 52.59/100
• National rank: #1560
• State rank: #50 of 153 in CT

Livability — Naugatuck

• Score: 77/100
• State rank: #42
• US rank: #2997

Category grades

Amenities F Commute D- Cost of living B+ Crime A+ Employment A- Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 31,823
• Population (ZIP): 6,089

Population outlook (Naugatuck Valley County) Hauer SSP2

• By 2040: 496,846

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 8% Two or more races 8% Black 6%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 5% Russian 4% Lithuanian 3%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 4% Other Asian/Pacific 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: ▼ -60.75%
• Current HPI: 183.2378
• Rent YoY: —
• Metro: —
• 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

+138.5% since first listed

12 events — show timeline

• 2026-03-13 Pending — Smart MLS
• 2026-02-25 Listed $429,000 Smart MLS
• 2005-12-28 Sold (Public Records) $274,500 Public Records
• 2005-12-23 Sold (MLS) $267,500 Smart MLS
• 2005-08-08 Listed $299,900 Smart MLS
• 2005-08-06 Listing Removed — Smart MLS
• 2005-05-06 Listed $300,000 Smart MLS
• 2003-11-17 Listing Removed — Smart MLS
• 2003-06-17 Listed $299,900 Smart MLS
• 2000-07-31 Sold (Public Records) $170,000 Public Records
• 2000-07-28 Sold (MLS) $170,000 Smart MLS
• 1999-08-12 Listed $179,900 Smart MLS

Property tax history

+0.4%/yr

Latest (2023): $5,315 · +4.4% YoY. Source: county tax records.