Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Watertown Multifamily Investment Opportunity Title is generated by Realmo AI

    617 Main Street, Watertown, CT 06779

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $470,000

    MULTI_FAMILY - Watertown, CT

    Property size:
    3,514 SF
    Lot size:
    0.20 Acres
    Price / SF:
    $133/SF
    Added:
    Apr 21, 2026
    Days on Market:
    46
    Last Refresh:
    Jun 5 at 6:06 pm

    Property Features for 617 Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    BG
    Bedrooms
    8
    Rooms
    Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 5, Bedroom 8, Basement, Bedroom 2, Bedroom 7, Bedroom 4
    Parking
    8
    Basement
    Partial
    Standard status
    Active Under Contract
    Size
    3,514 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    8853

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Radiant, Baseboard, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1900
    Architectural style
    Other

    We can help!

    Listing Contact
    Andi Pengu

    Listing agent Andi Pengu

    Listing office Showcase Realty, Inc. 216 Davis Street, Oakville, CT

    Listing date Apr 21, 2026

    MLS# 24156073 Listing URL

    Copyright © 2026 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.

    HighLights

    • Strong cash flow from a fully occupied 4‑unit property.
    • Immediate potential to increase rents due to below‑market rates.
    • Two units are recently updated, reducing immediate renovation costs.
    • Excellent value‑add opportunity to renovate remaining units and further increase rents.
    • Located in a high‑demand rental area with easy access to amenities and major roadways.
    • Turnkey investment opportunity, ideal for investors seeking a stabilized asset with future growth potential.

    Overview

    This is a four-unit investment property situated in Watertown, CT. The property, with a building size of 3,514 square feet on a 0.2-acre lot, is fully occupied and offers a strong cash flow with significant upside. Two of the units have been recently updated. The remaining units present a value-add opportunity to increase rents and maximize returns. Current rents are below market, offering immediate potential for increased cash flow. The owner is responsible for gas and water. The property is located in a high-demand rental area with easy access to shopping, dining, and major roadways. The zoning is BG. It is suitable for investors seeking a stabilized asset with future growth potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Watertown
    County
    Litchfield
    State
    Connecticut
    Longitude
    -73.092313
    Latitude
    41.589425

    Nearby Similar for Sale

    • $499,990
      2,616 SF

      Oakville Triplex: Investor Opportunity

      Well-maintained triplex with income potential in Oakville.
      254 Davis Street, Watertown, CT 06779
      View Details
    • $69,900
      588 SF

      Retail/Office Condo in Downtown Watertown

      588 SF commercial condo in a thriving mixed-use center.
      51 Depot Street, Watertown, CT 06795
      View Details
    • $69,900
      588 SF

      Retail/Office Condo in Downtown Watertown

      588 SF commercial condo in a thriving mixed-use center.
      51 Depot Street #106, Watertown, CT 06795
      View Details
    • $439,900

      Renovated Two-Family Property

      Fully renovated two-family property with modern updates and investment potential.
      31 Van Orman St, Watertown, CT 06779
      View Details
    • $439,900
      2,016 SF

      Renovated Two-Family Property

      Fully renovated two-family property with modern updates and investment potential.
      31 Van Orman Street, Watertown, CT 06779
      View Details
    • $470,000

      Turnkey Four-Unit Investment Opportunity

      Fully occupied 4-unit property with income and upside potential.
      617 Main St, Watertown, CT 06779
      View Details
    • Contact for pricing
      588 SF

      Downtown Watertown Retail/Office Condo

      588 SF commercial condo in thriving mixed-use center.
      51 Depot Street Unit 106, Watertown, CT 06795
      View Details
    • $995,000
      12,500 SF

      Watertown Industrial Building For Sale

      12,500 SF industrial building ideal for manufacturing or assembly.
      184 Commercial St, Watertown, CT
      View Details
    • $499,990
      2,616 SF

      Well-Maintained Oakville Triplex

      Income-producing triplex with renovated unit and long-term tenants.
      254 Davis Street, Watertown, CT 06779
      View Details
    • $850
      900 SF

      Customizable Retail Space For Sale

      900 sq ft retail space with high visibility.
      125 Main Street, Watertown, CT 06779
      View Details
    • $59,000
      2,601 SF

      Established Pottery and Ceramics Studio

      Profitable pottery and ceramics studio with established niche business.
      27 Siemon Company Dr, Watertown, CT
      View Details

    FAQs

    What type of property is this?
    Quadplex - Turnkey four-unit property with cash flow and upside potential.
    Where is this quadplex located?
    The property is located at 617 Main Street Watertown, CT.
    What is the asking price?
    The asking price for this property is $470,000.
    What are key features of this property?
    This property features: Strong cash flow from a fully occupied 4‑unit property.; Immediate potential to increase rents due to below‑market rates.; Two units are recently updated, reducing immediate renovation costs.
    (203) 841-9040
    We can help!
    Listing Contact
    Andi Pengu
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    617 Main Street, Watertown, CT 06779
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!