242 Madison Street

Waterbury, CT 06706

$329,000
Price
6
Beds
3
Baths
1,880 Sq. Ft.
$175 / Sq. Ft.
1,880
Sq. Ft.
$175
per Sq. Ft.

Description

Calling all investors! Don't miss this opportunity to acquire a cash-flowing property in a prime location. This single-family home, currently operating as a fully-leased rooming house, generates approximately $4,600 per month in rental income, making it a perfect addition to any investment portfolio. The main floor features a flexible living arrangement with 1 bedroom, living room (currently being used as a second bedroom), a full bathroom, a spacious kitchen, and a large deck overlooking the flat,...Calling all investors! Don't miss this opportunity to acquire a cash-flowing property in a prime location. This single-family home, currently operating as a fully-leased rooming house, generates approximately $4,600 per month in rental income, making it a perfect addition to any investment portfolio. The main floor features a flexible living arrangement with 1 bedroom, living room (currently being used as a second bedroom), a full bathroom, a spacious kitchen, and a large deck overlooking the flat, private backyard-ideal for tenants to relax and unwind. Upstairs, with its separate entrance, you'll find four additional units sharing a bathroom and an enclosed porch, offering tenants both comfort and privacy. The basement studio provides even more rental space, adding to this property's income stream. You can occupy one of the units and enjoy the comfort of a private residence while renting out the other units. This unique setup allows you to live for free while building equity and generating consistent cash flow. Key updates include a new front porch and a 10-year-old roof, ensuring minimal future maintenance costs.
  1. Listed by Mark Mermelstein • eXp Realty
    P: (347)-634-2123 C: (347)-634-2123 mmerms@gmail.com

Property Details for 242 Madison Street

Basement Description
Full
Direct Waterfront
No
Neighborhood
N/A
Style
Colonial
Garage Parking Info
None
Swimming Pool
No
LISTING UPDATED: 09/19/2024 01:09 AM

Property Details for 242 Madison Street

StatusActive
MLS #24045623
Days on Market63
Taxes$5,056 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeResidential
Year Built1888
Lot Size0.14 AC / 6,098 SF
CountyNew Haven County

Building Information for 242 Madison Street

Stories-Year Built1888Building Size-Lot Size0.14 AC / 6,098 SF

Property Information for 242 Madison Street

Summary
Property and Location
  • Acres Source: Public Records
  • Directions: GPS Friendly
  • Elementary School: Per Board of Ed
  • High School: Per Board of Ed
  • Latitude: 41.537712
  • Longitude: -73.02782
  • State: Connecticut
HOA and Fees
  • Home Owner's Assocation: No
  • Tax Year: July 2024-June 2025
  • Property Tax: $5,056
Interior and Exterior Features
Exterior Features
  • Waterfront Description: Not Applicable
Interior Features
  • Appliances Included: Oven/Range, Refrigerator
  • Attic Description: Access Via Hatch
  • Cooling System: None
  • Heat Type: Hot Air, Hot Water
  • Attic YN: Yes
  • Fireplaces Total: 0
  • Rooms Total: 9
Room 1
  • Room Entry Order: 1
  • Room Level: Main
  • Room Type: Living Room
Room 2
  • Room Entry Order: 2
  • Room Level: Main
  • Room Type: Bedroom
Room 3
  • Room Entry Order: 3
  • Room Level: Main
  • Room Type: Primary Bedroom
Room 4
  • Room Entry Order: 4
  • Room Level: Upper
  • Room Type: Bedroom
Room 5
  • Room Entry Order: 5
  • Room Level: Upper
  • Room Type: Bedroom
Room 6
  • Room Entry Order: 6
  • Room Level: Upper
  • Room Type: Bedroom
Room 7
  • Room Entry Order: 7
  • Room Level: Upper
  • Room Type: Bedroom
Property
Property and Assessments
  • Construction Description: Frame
  • Exterior Siding: Shake
  • Foundation Type: Concrete
  • Fuel Tank Location: In Basement
  • New Construction Type: No/Resale
  • Roof: Shingle
  • Year Built: 1888
  • Year Built Source: Public Records
  • Bank Owned Property: No
Lot Information
  • Lot Description: N/A
  • Parcel Number: 1393275
  • Sq Ft Est Heated Above Grade: 1880.0
  • Sq Ft Total: 1880.0
  • Zoning: RL
Utilities
  • Heat Fuel Type: Oil
  • Hot Water Description: 40 Gallon Tank
  • Sewage System: Public Sewer Connected
  • Water Source: Public Water Connected
Multi Family
Income and Expenses
  • Occupied By: Tenant
Unit 1
  • Listing Key: 21BA96B403F5A2BAE063D501100A2021
Unit 2
  • Listing Key: 21BA96B403F5A2BAE063D501100A2021
Unit 3
  • Listing Key: 21BA96B403F5A2BAE063D501100A2021
Unit 4
  • Listing Key: 21BA96B403F5A2BAE063D501100A2021
Unit 5
  • Listing Key: 21BA96B403F5A2BAE063D501100A2021
Unit 6
  • Listing Key: 21BA96B403F5A2BAE063D501100A2021
Unit 7
  • Listing Key: 21BA96B403F5A2BAE063D501100A2021

Property History for 242 Madison Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 242 Madison Street

Taxable ValueLand$15,750Additions$86,520Total$102,270
Tax Record2024$5,056 ($421 / month)
Home Facts
Beds4Baths2Total Finished SqFt1,880 SqFtAbove Grade Finished SqFt1,880 SqFtUnfinished Basement SqFt390 SqFtStories2Lot Size6,098 SqFtStyleSingle Family ResidenceYear Built1888Year Renovated1965ZoningRLCountyNEW HAVENAPNWBRY M:0439 B:0493 L:0129

Schools near 242 Madison Street

This home is within Waterbury School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - PK to 5
Rating
School
Distance
Washington School
PublicPK to 5

West Side Middle School
Public6 to 8

Crosby High School
Public9 to 12

Maloney Interdistrict Magnet School
PublicPK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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242 Madison Street is a single family home for sale in Waterbury, CT 06706. This property was listed for sale on September 18, 2024 by eXp Realty, it's currently listed at $329,000. It has been on the market for a total of 63 days and was last sold on May 11, 2004. This listing's school district is Waterbury School District. Nearby schools include Washington School, West Side Middle School and Crosby High School. 242 Madison Street is a 6-bed, 3-bath, 1,880 sqft single family home built in 1888.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of eXp Realty, Mark Mermelstein

Based on information from one of the following Multiple Listing Services: Darien MLS, Smart MLS and Greenwich Multiple Listing Service. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Darien MLS, Smart MLS and Greenwich Multiple Listing Service is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.