The new ethernet irrigation controller named Irrigation Caddy (IC) will not obtain an IP address using DHCP from the Verizon Router MI424WR even when plugged directly into the router (bypassing all network switches that may be in the home network). The Irrigation Caddy utility program provided by the manufacturer will not find the device either.
The solution is to connect the IC to a different router (if you have one in the closet or at a friends house without Verizon FIOS). Attach a PC to that router and open the router Admin utility by using Internet Explorer or Safari to type in the routers address (192.168.1.1 or 192.168.1.254 as example). Connect the Irrigation Caddy to that router and use the admin utility to discover the ICs new IP addressassigned by DHCP. At this point the IC will operate and allow you to change its dynamic IP address to a static address that will fit your main nextwork. Be careful, once you set and save the IC will not be accesible until it is connected to the network that supports the new IP address you assigned. Once the IC is back on your network use its new IP address to access it. Do not use http://irrigationcaddy as shown in the manual as it will not work. The Verizon FIOS router admin utility will not allow you to change the name of the device but it will recognize it as a static device. Mine shows up as <new-host 4> instead of IrrigationCaddy as the user manual states.
Hope this helps. I spent 20 hours figuring this out and even returned one unit that of course worked fine back at the manufacturers shop. As a new device, it is much easier than any of the old irrigation controllers and also works on iPhone and iPad as it has a builtin web page.