925 Oronoke Rd Unit 13J · Waterbury, CT 06708

$184,900

2 bd · 1.5 ba · 1,330 sqft · Condo public records · 7 Days on market

Built 1986 $139/sqft · 21% below area Est $235k · 21% under $380/mo HOA · 18% 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).

• ARV discount +15.0/15.0
• Cash flow +6.7/30.0
• 1% rule +6.1/10.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely, bright end unit with fireplace, deck off kitchen, finished room on lowerlevel, nicely decorated, move right in!

Key facts

• Multi level layout
• Townhouse style
• $380 HOA

Tags

• TOWNHOUSE STYLE
• MULTI LEVEL LAYOUT
• PARTIALLY FINISHED BASEMENT
• UNFINISHED STORAGE SPACE
• 1 CAR BASEMENT GARAGE
• ESTABLISHED CONDO COMMUNITY

Property features AI

Finance

• Financial info: Pets allowed (up to 2; dogs must meet rules)
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee of $380; HOA covers grounds maintenance, trash pickup, snow removal, water, sewer, property management, and road maintenance; Community of 268 units

Exterior

• Parking: Under-house garage; Off-street parking; Unassigned parking; 2 parking spaces total; 1 garage (attached under house)
• Utilities: Public water connected; Public sewer connected; Electric heating and hot water
• Home design: Condominium (Condo/Co-Op for sale); End unit; Part of Oronoke Ridge complex
• Construction: Frame construction
• Exterior features: Vinyl siding; Lightly wooded, treed, level lot

Interior

• Kitchen: Oven/Range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Baseboard heating (electric); Window unit cooling; 40-gallon electric hot water tank
• Interior features: 5 total rooms; 3 levels in unit; Full basement with partial walk-out; 1 fireplace; Window cooling unit
• Laundry & utility: Laundry in lower level / basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-292 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (27.9% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $133k (27.9% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 3.5% in Waterbury — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: B. W. Tinker School (math 12% / reading 19%, grade F, #470 of 553 statewide, top 85%, 567 students, 69% FRL); West Side Middle School (math 8% / reading 23%, grade F, #165 of 175 statewide, top 94%, 817 students, 81% FRL); John F. Kennedy High School (math 17% / reading 37%, grade F, #147 of 194 statewide, top 78%, 1,297 students, 79% FRL) — zoned schools at 77% FRL track the district average.
• Market conditions: Rents rising fast (+9.8%/yr); 121 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 24y 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 $92k; list at $185k implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $133,299 (27.9% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 1.11% ✓
• Cap rate: 4.40%
• Cash-on-cash: -6.77%
• DSCR: 0.70
• GRM: 7.5

CMA / ARV

• ARV (median comp): $235,373
• List price: $184,900
• Delta: -21.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -19.3%
• Equity multiple: 0.28×
• Total profit: $-37,251
• Equity at exit: $27,569

10-year hold

• IRR: -1.1%
• Equity multiple: 0.90×
• Total profit: $-5,105
• Equity at exit: $15,987

Cash invested: $51,772 (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: 7.5×

Monthly cashflow live

• Estimated rent: $2,060 high
• Mortgage (P&I): −$970
• Tax from tax record: −$493 /mo · $5,918/yr
• Insurance: −$77
• HOA: −$380
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $-292

Break-even live

Break-even rent $2,430

Max offer price $133,299

Occupancy floor —

Sensitivity live

Price	-10% $-187	-5% $-240	+0% $-292	+5% $-344	+10% $-397
Rent	-10% $-455	-5% $-373	+0% $-292	+5% $-211	+10% $-129
Rate	-1.0pp $-199	-0.5pp $-245	base $-292	+0.5pp $-340	+1.0pp $-389

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
925 Oronoke Rd Unit 30L Waterbury, CT	2.0	1.5	1042	$1,995	$1.91	13d	1	0.03mi
925 Oronoke Rd Unit 12C Waterbury, CT	2.0	1.5	1330	$2,200	$1.65	45d	1	0.03mi
905 Oronoke Rd #13 Waterbury, CT	3.0	2.5	1614	$3,000	$1.86	4d	1	0.12mi
174 Lucille St Unit 2 Waterbury, CT	2.0	1.0	875	$1,600	$1.83	45d	1	0.38mi
1585 Highland Ave Waterbury, CT	2.0	1.5	1050	$1,875	$1.79	45d	1	0.42mi
14 Elmview Cir Unit 3 Waterbury, CT	2.0	1.0	900	$1,450	$1.61	25d	1	0.72mi
1101 Highland Ave Waterbury, CT	2.0	1.5	1380	$1,800	$1.30	25d	1	0.73mi
1101 Highland Ave Waterbury, CT	2.0	1.5	1180	$1,800	$1.53	45d	1	0.73mi
219 Nichols Dr Waterbury, CT	2.0	1.5	1060	$1,550	$1.46	5d	1	0.75mi
173 Bradley Ave Waterbury, CT	2.0	1.0	900	$1,850	$2.06	5d	1	0.77mi
111 Mallane Ln Unit 14D Naugatuck, CT	2.0	1.5	1152	$2,400	$2.08	20d	1	1.02mi
44 Taft St Unit 9 Waterbury, CT	2.0	1.5	1200	$2,100	$1.75	45d	1	1.04mi
91 Taft St Unit 11 Waterbury, CT	2.0	1.5	1320	$2,600	$1.97	45d	1	1.05mi
95 Hawthorne Ave Unit 2 Waterbury, CT	3.0	1.0	1300	$1,800	$1.38	25d	1	1.10mi
124 Geddes Ter Unit Left Waterbury, CT	3.0	1.5	1255	$2,300	$1.83	45d	1	1.11mi
124 Geddes Ter Waterbury, CT	3.0	2.0	1255	$2,300	$1.83	45d	1	1.13mi
67 Avon Ave Unit 2 Waterbury, CT	2.0	1.0	887	$1,700	$1.92	25d	1	1.17mi
270 Spring St Naugatuck, CT	1.0–2.0	1.0	915	$2,259	$2.47	4d	11	1.19mi
270 Spring St Naugatuck, CT	1.0–2.0	1.0	915	$2,220	$2.43	13d	8	1.19mi
654 Highland Ave Unit 2 Waterbury, CT	2.0	1.0	1000	$1,400	$1.40	46d	1	1.25mi
468 Congress Ave Unit third floor Waterbury, CT	3.0	1.0	1250	$1,500	$1.20	25d	1	1.31mi
124 Charles St Unit 2 Waterbury, CT	2.0	1.0	1012	$1,800	$1.78	45d	1	1.49mi

HOA detail condo

• Monthly dues: $380 · $4,560/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-05-15
   listed $184,900 Active 829-char remark
2. 2002-05-20
   soldstatus $92,000 119-char remark

   Show marketing remark (119 chars)

   Lovely, bright end unit with fireplace, deck off kitchen, finished room on lowerlevel, nicely decorated, move right in!

3. 2002-02-15
   listed $92,000 119-char remark

   Show marketing remark (119 chars)

   Lovely, bright end unit with fireplace, deck off kitchen, finished room on lowerlevel, nicely decorated, move right in!

ⓘ 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: $5,918 · $493/mo
• Projected year-2 tax: $5,918 · $493/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $24,725
• − Mortgage interest: −$10,357
• − Property taxes: −$5,918
• − Insurance: −$924
• − Repairs & maintenance: −$1,978
• − Management: −$1,978
• − HOA: −$4,560
• − Depreciation: −$5,379
• Taxable loss: −$6,370
• Est. tax savings @ 24.0%: +$1,529
• After-tax cash flow: $-1,977/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

+101.0% since first listed

4 events — show timeline

• 2026-05-22 Pending — Smart MLS
• 2026-05-15 Listed $184,900 Smart MLS
• 2002-05-20 Sold (MLS) $92,000 Smart MLS
• 2002-02-15 Listed $92,000 Smart MLS

Property tax history

+3.5%/yr

Latest (2023): $5,918 · +56.7% YoY. Source: county tax records.