Three-Family Residential Income
For Sale
$459,000
Pending
109 Blanchard Street, Waterbury, CT 06705
Fully-sized three-family building with identical layouts, each unit offering two bedrooms and one full bath.
Property Size1,912 SF
Days on Market53
Property Features for 109 Blanchard Street
General Information
Standard status
Pending
Size
1,912 SF
Property subtype
3 Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Building Size
1,912 SF
Year Built
1912
Tenancy
Multi
Listing Agency:
Premier Re Group LLC
Listed By:
Jeff Gardner
(860) 307-4925
Source:
Iverty
Added: Jul 16
Changed: Aug 24
Last Checked: Aug 23 at 9:57AM
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 Premier Re Group LLC
Investment Insights
Based on property information with market context.
This three-family residential income property offers an identical, high-demand layout across three levels. The building is configured as three separate units, and each unit includes two bedrooms and one full bath. The property is reported to be in excellent condition, with care maintained inside and out by the same family for multiple generations.
Situated in Waterbury’s East End, the location is described as convenient to East End shopping centers, local eateries, and community amenities. The public remarks also note easy access to I-84.
The asset is presented as a robust, fully-sized three-family investment option, with the uniform unit configuration intended to support straightforward management and consistent leasing across the property.
Situated in Waterbury’s East End, the location is described as convenient to East End shopping centers, local eateries, and community amenities. The public remarks also note easy access to I-84.
The asset is presented as a robust, fully-sized three-family investment option, with the uniform unit configuration intended to support straightforward management and consistent leasing across the property.
Key Highlights
- 3‑family investment property built in 1912
- Total building area: 3,099 SF with an identical layout across all three levels
- Each unit features 2 bedrooms and 1 full bath
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
$34,915
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
7.61%
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%
$698,300
$698.3K
Cap Rate 7%
$498,786
$498.8K
Cap Rate 9%
$387,944
$387.9K
Market Conditions
NOI Build-Up for 3,099 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
$53.9K $17.40/SF
− Vacancy
−$4.0K −$1.31/SF
EGI
$49.9K $16.10/SF
− OpEx
−$15.0K −$4.83/SF
NOI
$34.9K $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%
$698,300
Cap Rate 7%
$498,786
Cap Rate 9%
$387,944
Alternative Uses
Best Use
Multifamily LT 5
$498.8K
$436.4K – $581.9K
NOI $34,915 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$449.3K
$393.2K – $524.2K
NOI $31,453 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$822.4K
$719.6K – $959.5K
NOI $57,567 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 06705, CT
27,197
Population
12,222
Households
2.2
Avg Household Size
38
Median Age
18%
College-Educated
86%
High-School Grad
5.6 sq mi
ZIP Area
4,857
Density / Sq Mi
$53,169
Median Household Income
$41,327
Median Earnings
$1,165
Median Rent
$177,700
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 - Fully-sized three-family building with identical layouts, each unit offering two bedrooms and one full bath.
Where is this triplex located?
The property is located at 109 Blanchard Street Waterbury, CT.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 3‑family investment property built in 1912; Total building area: 3,099 SF with an identical layout across all three levels; Each unit features 2 bedrooms and 1 full bath
