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242 Madison Street, Waterbury, CT 06706

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For Sale

$324,900

6 beds • 3 baths • 1,880 sqft

Estimated Payment

$ 1,688 /mo. †

6.76% APR for 30 yrs.
$0 in taxes
Change Loan Terms

  • Single Family Detached
    Property type

  • $172.82
    Price per square foot

  • Over 50 Years Old
    Age

  • Basement
    Rooms

Explore this Property

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.
MLS# 24045623

Courtesy Of eXp Realty of CT, LLC

(866) 828-3951

Property Features

  • Age
    Over 50 Years Old
  • Appliances
    Range, Refrigerator
  • Architecture Style
    Colonial
  • Cooling System
    None
  • Heating System
    Hot Water
  • Lot Size
    0.14 Acres
  • Rooms
    Basement

Map and Directions

Directions to 242 Madison Street, Waterbury, CT 06706

Home seller CENTURY 21 Scala Group

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Scala Group

(203) 374-9451
Learn More About Us

Mortgage Calculator

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Loan Term
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Monthly Payment Breakdown

  • Principle and Interest
    $1,688
  • Property Taxes
    $0
  • Hazard Insurance
    $0
  • Private Mortgage Insurance
    $0
  • HOA Dues
    $0
  • Total Monthly Payment:
    $1,688

Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

Schools

Hopeville Elementary School

Grades KG-5 Public School

Waterbury, CT 06706 0.4 miles
2 cypress st

325 total students
9:1 Student teacher ratio

School Rating: D

School Details

Washington Elementary School

Grades KG-5 Public School

Waterbury, CT 06706 0.5 miles
685 baldwin st

286 total students
13:1 Student teacher ratio

School Rating: C

School Details

West Side Middle School

Grades 6-8 Public School

Waterbury, CT 06708 1.9 miles
483 chase pkwy

935 total students
12:1 Student teacher ratio

School Rating: D+

School Details

Crosby High School

Grades 9-12 Public School

Waterbury, CT 06705 2.9 miles
300 pierpont rd

1217 total students
13:1 Student teacher ratio

School Rating: F

School Details
Other Nearby Schools Distance Type Grades School Rating
Wendell Cross Elementary School 0.9 miles Public KG-5 D+
John C. Gilmartin Elementary School 0.9 miles Public KG-8 D
Maloney Interdistrict Magnet School 1 miles Public PK-5 C-
Duggan Prek-8 School 1.1 miles Public KG-8 D+
Children's Community School 1.1 miles Private PK-8
B. W. Tinker Elementary School 1.2 miles Public KG-5 D
Waterbury Arts Magnet School (middle) 1.3 miles Public 6-8
Waterbury Arts Magnet School (high) 1.3 miles Public 9-12 B
Woodrow Wilson Elementary School 1.3 miles Public KG-5 F
Impact Christian Academy 1.4 miles Private KG-5
Walsh Elementary School 1.4 miles Public KG-5 D
Waterbury Career Academy 1.4 miles Public 9-12 C
Chase Elementary School 1.5 miles Public KG-5 D
Alpha & Omega Christian Academy 1.6 miles Private 1-11
Kennedy High School 1.6 miles Public 9-12 D
Yeshiva K'tana Of Waterbury 1.8 miles Private PK-8
Bais Yaakov Of Waterbury High School 1.9 miles Private 9-12

Wendell Cross Elementary School

Distance: 0.9 miles

Type Public

Grades: KG-5

D+

John C. Gilmartin Elementary School

Distance: 0.9 miles

Type Public

Grades: KG-8

D

Maloney Interdistrict Magnet School

Distance: 1 miles

Type Public

Grades: PK-5

C-

Duggan Prek-8 School

Distance: 1.1 miles

Type Public

Grades: KG-8

D+

Children's Community School

Distance: 1.1 miles

Type Private

Grades: PK-8

B. W. Tinker Elementary School

Distance: 1.2 miles

Type Public

Grades: KG-5

D

Waterbury Arts Magnet School (middle)

Distance: 1.3 miles

Type Public

Grades: 6-8

Waterbury Arts Magnet School (high)

Distance: 1.3 miles

Type Public

Grades: 9-12

B

Woodrow Wilson Elementary School

Distance: 1.3 miles

Type Public

Grades: KG-5

F

Impact Christian Academy

Distance: 1.4 miles

Type Private

Grades: KG-5

Walsh Elementary School

Distance: 1.4 miles

Type Public

Grades: KG-5

D

Waterbury Career Academy

Distance: 1.4 miles

Type Public

Grades: 9-12

C

Chase Elementary School

Distance: 1.5 miles

Type Public

Grades: KG-5

D

Alpha & Omega Christian Academy

Distance: 1.6 miles

Type Private

Grades: 1-11

Kennedy High School

Distance: 1.6 miles

Type Public

Grades: 9-12

D

Yeshiva K'tana Of Waterbury

Distance: 1.8 miles

Type Private

Grades: PK-8

Bais Yaakov Of Waterbury High School

Distance: 1.9 miles

Type Private

Grades: 9-12

School information does not guarantee enrollment. School service boundaries are provided as a reference only, may change, and are not guaranteed to be accurate. Contact the school district directly to verify school enrollment eligibility.

Local area information for Waterbury, CT 06706

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Waterbury, CT 06706

This community’s employment is highest in the healthcare practitioners and administrative support industries. The area’s overall household expenses are below the national average.

83° July
Hottest Average Month
17° January
Coldest Average Month
6,198 Total Households in Area
0.3% Increase in population since the year 2010
34.4%
of households
have children
24 minutes
Median Commute Time

Household Expenses vs National Average

This location’s average annual expenditures by category compared to the national average. Index score (100=National Average)

Demographic facts
for Waterbury, CT 06706

Waterbury, CT 06706 has a population of 16,362 people in 6,198 households with a median age of 34.7 years old.

0.3%
Increase in population
since the year 2010
Population is Trending up
6,191
Total households as of 2010
3.7%
projected percent change in total
households in 5 years

Community Population By Age

The median age for this area is 34.7 years old. The smallest percentage group is 45-54 years and the largest percentage is the 85+ years age range.

Community Population By Ethnicity

Hispanic 45%
White 37%
Other 24%
Black 17%
Asian 3%
Native American <1%
The most prevalent ethnicity is Hispanic at 45%, followed by White at 37%, Other at 24%, and Black at 17%.

Economics
for Waterbury, CT 06706

3,919 /sq mi
Population Density
$56,990 /yr
Median Household Income
$287,000
Median Sales Price
24 min
Median Commute Time

Household Expenses vs National Average

This location’s average annual expenditures by category compared to the national average. Index score (100=National Average)

Household by Income

Out of the households in this area, the largest income group is $50-74,999k representing 20.33% of the households.

Transportation to Work

  • Drive 82%
  • Work from Home 7%
  • Public Transit 6%
  • Walk or Bike 6%

Occupancy by Type

Rented 3,334 49%
Owned 2,864 42%
Vacant 554 8%

White vs Blue Collar Jobs







White Collar 63%
Blue Collar 37%

Family & Education Facts
for Waterbury, CT 06706

34.7 Median Age

Average Household Size

2.6
persons per
household

36.6%

Married Households

Community Population By Education

High School Graduate 36%
Some High School 22%
Some College 18%
Bachelors Degree 10%
Graduate Degree 9%
Associates Degree 6%
Of the total people surveyed, the most prevalent educational attainment level is High School Graduate, representing 36.28% of the population.

Household Family Expenses vs National Average

This location’s average annual expenditures compared to the national average. Index score (100=National Average)
34.5% of households have children

Weather
for Waterbury, CT 06706

The weather for this area ranges from a high of 83° F in July to a low of 17° F in January

83° July
Hottest Average Month
17° January
Coldest Average Month

Average Temperature by Month

Low (°F)
High (°F)
Jan
17°
35°
Feb
18°
38°
Mar
26°
47°
Apr
36°
59°
May
46°
70°
Jun
55°
78°
Jul
60°
83°
Aug
59°
81°
Sep
51°
73°
Oct
41°
63°
Nov
32°
51°
Dec
22°
39°

Average Temperature in Degrees Fahrenheit

Precipitation

Precipitation (inch)

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Copyright © 2025 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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