Renovated Three-Unit
For Sale
$530,000
10 Edwards Street, Waterbury, CT 06708
Three spacious residences include private decks, flexible bonus rooms, and separate living, dining, and kitchen areas.
Property Size3,454 SF
Price / SF$153.45
Days on Market10
Property Features for 10 Edwards Street
General Information
Standard status
Active
Size
3,454 SF
Property subtype
3 Family
Units
Unit Mix
2 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Amenities
private deck
Building Details
Year Built
1900
Listing Agency:
eXp Realty
Listed By:
Mark Mermelstein · License #RES.0811095
(347) 634-2123
Source:
Lockandkeyre
Added: Aug 25
Changed: Sep 3
Last Checked: Sep 2 at 5:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty
Investment Insights
Based on property information with market context.
This 3,454-square-foot triplex, built in 1900, contains three renovated residences with generous floor plans. The first- and second-floor apartments each have 2 bedrooms and 1 full bathroom, while the third-floor apartment has 3 bedrooms and 1 full bathroom; one third-floor bedroom is smaller. Each unit also includes a living room, dining room, kitchen, additional flexible room, and private deck.
A full unfinished basement provides storage, and the full unfinished attic may offer additional living area or another unit, subject to approvals. The property is near shopping, schools, parks, and major highways in Waterbury’s Town Plot section.
A full unfinished basement provides storage, and the full unfinished attic may offer additional living area or another unit, subject to approvals. The property is near shopping, schools, parks, and major highways in Waterbury’s Town Plot section.
Key Highlights
- 3,454 SF triplex built in 1900
- Three renovated units with private decks
- First- and second‑floor units each offer 2 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,914
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$778,280
$778.3K
Cap Rate 7%
$555,914
$555.9K
Cap Rate 9%
$432,378
$432.4K
Market Conditions
NOI Build-Up for 3,454 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$60.1K $17.40/SF
− Vacancy
−$4.5K −$1.31/SF
EGI
$55.6K $16.10/SF
− OpEx
−$16.7K −$4.83/SF
NOI
$38.9K $11.27/SF
Area
Waterbury, CT
Vacancy
7.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$778,280
Cap Rate 7%
$555,914
Cap Rate 9%
$432,378
Alternative Uses
Best Use
Multifamily LT 5
$555.9K
$486.4K – $648.6K
NOI $38,914 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$500.8K
$438.2K – $584.3K
NOI $35,056 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$916.6K
$802.0K – $1.07M
NOI $64,162 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
828
Businesses Nearby
Explore this area
Business Placement
Demographics for 06708, CT
30,345
Population
13,061
Households
2.3
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
3,228
Density / Sq Mi
$63,705
Median Household Income
$40,515
Median Earnings
$1,275
Median Rent
$196,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three spacious residences include private decks, flexible bonus rooms, and separate living, dining, and kitchen areas.
Where is this triplex located?
The property is located at 10 Edwards Street Waterbury, CT.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 3,454 SF triplex built in 1900; Three renovated units with private decks; First- and second‑floor units each offer 2 bedrooms and 1 full bathroom
