35 Hewey St · Waterbury, CT 06708

$235,888

3 bd · 1.0 ba · 1,593 sqft · SingleFamily public records · 178 Days on market

Built 1927 6,098 sqft lot $148/sqft · 29% below area Est $334k · 29% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.7/30.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for investors or buyers looking to add value! Solid home with old school quality real hardwood. There is a detached garage and yard space in the back. This home is full of potential! Being sold as is! Back on market, previous contract unable to obtain final financing approval.

Key facts

• Near schools
• Near major highways
• Real hardwood

Tags

• REAL HARDWOOD
• DETACHED GARAGE
• YARD SPACE
• NEAR SHOPPING CENTERS
• NEAR SCHOOLS
• NEAR MAJOR HIGHWAYS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $236k.

Deal economics

• At list price, monthly cash flow is $-271 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (20.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (12.3% below list).
• Recommended offer: $188k (20.3% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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; 27 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 37% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y ago; this cycle's ask has dropped $71k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $145k; list at $236k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1927 — 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 $188,042 (20.3% 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. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
10. 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.
11. 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.
12. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 4.92%
• Cash-on-cash: -4.92%
• DSCR: 0.78
• GRM: 9.5

CMA / ARV

• ARV (median comp): $333,636
• List price: $235,888
• Delta: -29.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
190 Anderson Ave	0.16mi	3/1.5	1,650 (+4%)	2mo	$351,000	$213	83
215 Wesley St	0.37mi	3/2.0	1,568 (-2%)	1mo	$320,000	$204	75
62 Rosemount Ave	0.46mi	4/2.0 (+1)	1,568 (-2%)	1mo	$310,000	$198	66
372 Anna Ave	0.34mi	3/1.0	1,440 (-10%)	6mo	$287,000	$199	63
59 Addison St	0.45mi	4/2.0 (+1)	1,647 (+3%)	3mo	$308,000	$187	62
87 Highland Dr	0.49mi	3/1.5	1,500 (-6%)	5mo	$358,600	$239	62
736 Congress Ave	0.26mi	3/2.0	1,804 (+13%)	0mo	$360,000	$200	61
17 Hickory Hill Dr	0.62mi	3/1.5	1,440 (-10%)	1mo	$245,000	$170	52
92 Welland Ave	0.54mi	3/1.0	1,357 (-15%)	6mo	$270,000	$199	45
207 Nichols Dr	0.53mi	4/1.0 (+1)	1,362 (-14%)	2mo	$210,000	$154	44
35 Rosemount Ave	0.46mi	3/3.5	1,386 (-13%)	4mo	$360,000	$260	44
69 Tree Hill Rd	0.74mi	3/1.5	1,365 (-14%)	2mo	$272,000	$199	38

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: -18.2%
• Equity multiple: 0.33×
• Total profit: $-44,338
• Equity at exit: $35,172

10-year hold

• IRR: -1.8%
• Equity multiple: 0.85×
• Total profit: $-10,235
• Equity at exit: $20,395

Cash invested: $66,049 (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: 9.5×

Monthly cashflow live

• Estimated rent: $2,069 high
• Mortgage (P&I): −$1,237
• Tax from tax record: −$570 /mo · $6,843/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-271

Break-even live

Break-even rent $2,412

Max offer price $188,042

Occupancy floor —

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: $58,972
• Closing costs: $7,077
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44 Taft St Unit 9 Waterbury, CT	2.0	1.5	1200	$2,100	$1.75	44d	1	0.40mi
91 Taft St Unit 11 Waterbury, CT	2.0	1.5	1320	$2,600	$1.97	44d	1	0.41mi
95 Hawthorne Ave Unit 2 Waterbury, CT	3.0	1.0	1300	$1,800	$1.38	24d	1	0.45mi
1101 Highland Ave Waterbury, CT	2.0	1.5	1180	$1,800	$1.53	44d	1	0.49mi
1101 Highland Ave Waterbury, CT	2.0	1.5	1380	$1,800	$1.30	24d	1	0.49mi
219 Nichols Dr Waterbury, CT	2.0	1.5	1060	$1,550	$1.46	3d	1	0.51mi
124 Geddes Ter Unit Left Waterbury, CT	3.0	1.5	1255	$2,300	$1.83	44d	1	0.54mi
27 Katie Ln Waterbury, CT	2.0	1.5	2000	$2,250	$1.12	24d	1	0.55mi
124 Geddes Ter Waterbury, CT	3.0	2.0	1255	$2,300	$1.83	44d	1	0.55mi
23 Katie Ln Waterbury, CT	2.0	1.5	2000	$2,250	$1.12	24d	1	0.55mi
468 Congress Ave Unit third floor Waterbury, CT	3.0	1.0	1250	$1,500	$1.20	24d	1	0.63mi
925 Oronoke Rd Unit 12C Waterbury, CT	2.0	1.5	1330	$2,200	$1.65	44d	1	0.76mi
905 Oronoke Rd #13 Waterbury, CT	3.0	2.5	1614	$3,000	$1.86	3d	1	0.77mi
41 Lawlor St Waterbury, CT	3.0	1.0	1750	$2,000	$1.14	14d	1	0.86mi
143 Congress Ave Unit 2 Waterbury, CT	4.0	1.0	1050	$1,800	$1.71	44d	1	0.90mi
127 Congress Ave Unit 1 Waterbury, CT	3.0	1.0	1200	$2,300	$1.92	44d	1	0.92mi
72 Chambers St Unit 2 Waterbury, CT	3.0	1.0	1540	$1,750	$1.14	44d	1	0.97mi
1585 Highland Ave Waterbury, CT	2.0	1.5	1050	$1,875	$1.79	44d	1	1.03mi
85 Draher St Unit 1 Waterbury, CT	2.0	1.0	1200	$1,600	$1.33	44d	1	1.05mi
203 Alder St Unit 1st floor Waterbury, CT	2.0	1.0	1060	$1,600	$1.51	44d	1	1.09mi
113 Southview St Waterbury, CT	2.0	1.0	1860	$1,250	$0.67	24d	1	1.21mi
1120 Baldwin St Waterbury, CT	3.0	1.0	1100	$1,750	$1.59	44d	1	1.24mi
59 Baldwin Ave Waterbury, CT	3.0	1.0	1200	$2,350	$1.96	44d	1	1.34mi
332 Robbins St Waterbury, CT	3.0	1.0	1160	$2,500	$2.16	24d	1	1.44mi
1171 W Main St Waterbury, CT	3.0	1.0	1500	$1,795	$1.20	24d	1	1.46mi
182 Jersey St #2 Waterbury, CT	3.0	1.0	1200	$1,800	$1.50	44d	1	1.50mi
182 Jersey St #2 Waterbury, CT	3.0	1.0	1200	$1,800	$1.50	11d	1	1.50mi

Listing history 19 events

1. 2026-05-14
   price $235,888 298-char remark

   Show marketing remark (298 chars)

   Great opportunity for investors or buyers looking to add value! Solid home with old school quality real hardwood. There is a detached garage and yard space in the back. This home is full of potential! Being sold as is! Back on market, previous contract unable to obtain final financing approval.

2. 2026-05-13
   status Active 298-char remark

   Show marketing remark (298 chars)

   Great opportunity for investors or buyers looking to add value! Solid home with old school quality real hardwood. There is a detached garage and yard space in the back. This home is full of potential! Being sold as is! Back on market, previous contract unable to obtain final financing approval.

3. 2026-04-11
   status Under Contract 298-char remark

   Show marketing remark (298 chars)

   Great opportunity for investors or buyers looking to add value! Solid home with old school quality real hardwood. There is a detached garage and yard space in the back. This home is full of potential! Being sold as is! Back on market, previous contract unable to obtain final financing approval.

4. 2026-03-27
   price $255,888 298-char remark

   Show marketing remark (298 chars)

   Great opportunity for investors or buyers looking to add value! Solid home with old school quality real hardwood. There is a detached garage and yard space in the back. This home is full of potential! Being sold as is! Back on market, previous contract unable to obtain final financing approval.

5. 2026-03-11
   price $265,888 298-char remark

   Show marketing remark (298 chars)

   Great opportunity for investors or buyers looking to add value! Solid home with old school quality real hardwood. There is a detached garage and yard space in the back. This home is full of potential! Being sold as is! Back on market, previous contract unable to obtain final financing approval.

6. 2025-12-31
   price $299,888 298-char remark

   Show marketing remark (298 chars)

   Great opportunity for investors or buyers looking to add value! Solid home with old school quality real hardwood. There is a detached garage and yard space in the back. This home is full of potential! Being sold as is! Back on market, previous contract unable to obtain final financing approval.

7. 2025-10-28
   listed $306,888 Active 298-char remark

   Show marketing remark (298 chars)

   Great opportunity for investors or buyers looking to add value! Solid home with old school quality real hardwood. There is a detached garage and yard space in the back. This home is full of potential! Being sold as is! Back on market, previous contract unable to obtain final financing approval.

8. 2020-10-19
   soldstatus $145,000
9. 2020-10-16
   soldstatus $145,000 Closed 522-char remark

   Show marketing remark (522 chars)

   GREAT LOCATION! Close to major highways, schools, major shopping and great neighborhood restaurants. Enter into 3 season porch/ breezeway then enter into home to dining area and living room. Kitchen area has stainless steel appliances, plenty of cabinet space, pantry and door leading to back yard. This home boasts main level bedroom, full bath and hardwood flooring throughout most of home. 2nd floor of home has 2 large bedrooms. Outside of home offers 1 car garage and flat fenced in backyard. Home will need some TLC.

10. 2020-09-25
    historical Under Contract - Continue to Show 522-char remark

    Show marketing remark (522 chars)

    GREAT LOCATION! Close to major highways, schools, major shopping and great neighborhood restaurants. Enter into 3 season porch/ breezeway then enter into home to dining area and living room. Kitchen area has stainless steel appliances, plenty of cabinet space, pantry and door leading to back yard. This home boasts main level bedroom, full bath and hardwood flooring throughout most of home. 2nd floor of home has 2 large bedrooms. Outside of home offers 1 car garage and flat fenced in backyard. Home will need some TLC.

11. 2020-09-19
    listed $140,000 Active 522-char remark

    Show marketing remark (522 chars)

    GREAT LOCATION! Close to major highways, schools, major shopping and great neighborhood restaurants. Enter into 3 season porch/ breezeway then enter into home to dining area and living room. Kitchen area has stainless steel appliances, plenty of cabinet space, pantry and door leading to back yard. This home boasts main level bedroom, full bath and hardwood flooring throughout most of home. 2nd floor of home has 2 large bedrooms. Outside of home offers 1 car garage and flat fenced in backyard. Home will need some TLC.

12. 2008-04-30
    historical
13. 2007-11-10
    listed $169,900
14. 2003-08-21
    soldstatus $98,000
15. 2003-08-21
    soldstatus $98,000
16. 2003-06-21
    listed $102,500
17. 2000-08-28
    soldstatus $76,000
18. 2000-06-08
    listed $70,000
19. 1990-05-24
    soldstatus $116,000

ⓘ 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: $6,843 · $570/mo
• Projected year-2 tax: $6,843 · $570/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: $24,831
• − Mortgage interest: −$13,213
• − Property taxes: −$6,843
• − Insurance: −$1,179
• − Repairs & maintenance: −$1,986
• − Management: −$1,986
• − Depreciation: −$6,862
• Taxable loss: −$7,240
• Est. tax savings @ 24.0%: +$1,738
• After-tax cash flow: $-1,513/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

+103.4% since first listed

19 events — show timeline

• 2026-05-14 Price Changed $235,888 Smart MLS
• 2026-05-13 Relisted — Smart MLS
• 2026-04-11 Pending — Smart MLS
• 2026-03-27 Price Changed $255,888 Smart MLS
• 2026-03-11 Price Changed $265,888 Smart MLS
• 2025-12-31 Price Changed $299,888 Smart MLS
• 2025-10-28 Listed $306,888 Smart MLS
• 2020-10-19 Sold (Public Records) $145,000 Public Records
• 2020-10-16 Sold (MLS) $145,000 Smart MLS
• 2020-09-25 Contingent — Smart MLS
• 2020-09-19 Listed $140,000 Smart MLS
• 2008-04-30 Listing Removed — Smart MLS
• 2007-11-10 Listed $169,900 Smart MLS
• 2003-08-21 Sold (Public Records) $98,000 Public Records
• 2003-08-21 Sold (MLS) $98,000 Smart MLS
• 2003-06-21 Listed $102,500 Smart MLS
• 2000-08-28 Sold (MLS) $76,000 Smart MLS
• 2000-06-08 Listed $70,000 Smart MLS
• 1990-05-24 Sold (Public Records) $116,000 Public Records

Property tax history

+3.1%/yr

Latest (2023): $6,843 · +48.2% YoY. Source: county tax records.