Real Estate Investing in Waterbury, Connecticut (06704)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 06704 (Waterbury, CT)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- Elevated vacancy: 9.6% vacancy may signal weakening demand.
- Elevated poverty: 22.3% poverty rate — can affect rent collection.
- Higher unemployment: 7.7% unemployment — tenant risk signal.
What’s happening in Waterbury, CT (06704)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 06704 Waterbury
Investors eyeing 06704 need to respect the fundamentals at play. Home values of $270K come alongside slower price movement and elevated management overhead.
The 06704 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
The gap between 06704 and stronger Waterbury ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 06704 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 06704 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Waterbury:
Property Strategy for 06704
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $113,811 | $1,400 | 8.9% | +18.2% | $113,811 |
| 2BR | $188,420 | $1,730 | 6.6% | +18.7% | $94,210 |
| 3BR | $280,551 | $2,140 | 5.5% | +15.0% | $93,517 |
| 4BR | $288,610 | $2,520 | 6.3% | +13.9% | $72,153 |
| 5BR | $321,588 | — | — | +13.8% | $64,318 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 06704 Compare?
| Metric | 06704 | Waterbury | New Haven-Milford, CT | Connecticut |
|---|---|---|---|---|
| Home Value | $270,038 | $241,154 | N/A | $425,784 |
| 5-Year CAGR | 11.6% | 10.5% | N/A | 9.3% |
| Avg Rent | $1,501 | $1,539 | N/A | - |
| Cap Rate | 4.3% | 4.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 06704 (Waterbury, CT). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 06704 (Waterbury, CT)?
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Property managers serving New Haven County
Manage rentals here? List your business →Bassett Property Management serves real estate owners and investors. summary from their website
CPE Property Management offers Connecticut HOA & Condo Management services. summary from their website
titan1313.com is a domain name for sale. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $270,038 |
| Monthly Rent | $1,501 |
| Price-to-Rent | 15.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.3% |
| 5-Year IRR | 15.9% |
📈 Home Appreciation
| 1-Year | +5.0% ▲ |
| 3-Year CAGR | +8.7% ▲ |
| 5-Year CAGR | +11.6% ▲ |
| 10-Year CAGR | +12.7% ▲ |
🏠 Rent Trends
| 1-Year | +1.5% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 06704
Population: 30,666
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 06704
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Swift Middle School
John Trumbull Primary School
Polk School
Driggs School
F. J. Kingsbury School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How much should I expect to pay for a home in Waterbury, CT?
Median home price in Waterbury, CT is near $270K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
How do experienced investors play Waterbury, CT?
Most investors in Waterbury, CT run a careful cash-flow rentals with hands-on management strategy. It aligns with the 4.0/5 investability profile and the market fundamentals.
What is the typical renter like in Waterbury, CT?
The tenant pool in Waterbury, CT is solid, supported by local employment and population fundamentals. Rents of $1,501/mo are well-absorbed by the market.
Is rental property easy to operate in Waterbury, CT?
Waterbury, CT falls under CT landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
Are rents high in Waterbury, CT?
Investors in Waterbury, CT typically see rents near $1,501/mo per month against $270K home values - a solid setup for rental cash flow.
You know 06704 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 06704 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 06704 ranks in New Haven-Milford, CT
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