Fully Renovated Two-Family
For Sale
$439,900
101 Dikeman Street, Waterbury, CT 06704
Renovated two-family property with move-in-ready units, newer 2021 furnaces and hot water tanks, plus a private level backyard.
Property Size2,798 SF
Price / SF$157.22
Days on Market77
Property Features for 101 Dikeman Street
General Information
Standard status
Active
Size
2,798 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Amenities
private backyard
Building Details
Year Built
1900
Listing Agency:
Regency Real Estate, LLC
Listed By:
Trevor Burke · License #RES.0803628
(203) 525-4199
Source:
Lockandkeyre
Added: Jun 22
Changed: Sep 5
Last Checked: Sep 5 at 6:51AM
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 Regency Real Estate, LLC
Investment Insights
Based on property information with market context.
This fully renovated two-family home offers two move-in-ready units, each updated for comfortable occupancy. Major improvements include newer furnaces and hot water tanks installed in 2021.
The second-floor unit is spacious and spans two levels, featuring 5 bedrooms and 2 full bathrooms. A level, private backyard provides outdoor space for everyday use.
The property is presented as a residential income asset or for an owner-occupant, with updated mechanicals and a configuration that supports flexible living or rental planning.
The second-floor unit is spacious and spans two levels, featuring 5 bedrooms and 2 full bathrooms. A level, private backyard provides outdoor space for everyday use.
The property is presented as a residential income asset or for an owner-occupant, with updated mechanicals and a configuration that supports flexible living or rental planning.
Key Highlights
- Fully renovated two‑family home with both units move‑in ready
- Newer 2021 furnaces and hot water tanks in both units
- Second‑floor unit spans two levels with 5 bedrooms and 2 full bathrooms
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
$31,524
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
7.17%
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%
$630,480
$630.5K
Cap Rate 7%
$450,343
$450.3K
Cap Rate 9%
$350,267
$350.3K
Market Conditions
NOI Build-Up for 2,798 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
$48.7K $17.40/SF
− Vacancy
−$3.7K −$1.31/SF
EGI
$45.0K $16.10/SF
− OpEx
−$13.5K −$4.83/SF
NOI
$31.5K $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%
$630,480
Cap Rate 7%
$450,343
Cap Rate 9%
$350,267
Alternative Uses
Best Use
Multifamily LT 5
$450.3K
$394.1K – $525.4K
NOI $31,524 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$405.7K
$355.0K – $473.3K
NOI $28,398 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$742.5K
$649.7K – $866.3K
NOI $51,976 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,038
Businesses Nearby
Explore this area
Business Placement
Demographics for 06704, CT
27,300
Population
12,987
Households
2.1
Avg Household Size
34
Median Age
14%
College-Educated
78%
High-School Grad
8.1 sq mi
ZIP Area
3,370
Density / Sq Mi
$47,848
Median Household Income
$33,090
Median Earnings
$1,202
Median Rent
$178,500
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?
Duplex - Renovated two-family property with move-in-ready units, newer 2021 furnaces and hot water tanks, plus a private level backyard.
Where is this duplex located?
The property is located at 101 Dikeman Street Waterbury, CT.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Fully renovated two‑family home with both units move‑in ready; Newer 2021 furnaces and hot water tanks in both units; Second‑floor unit spans two levels with 5 bedrooms and 2 full bathrooms
