Multi-Family Residential Income
For Sale
$344,990
11 Bergen Street, Waterbury, CT 06706
Versatile multi-family property with functional, well-sized units in a highly walkable Waterbury location.
Property Size1,564 SF
Price / SF$220.58
Days on Market52
Property Features for 11 Bergen Street
General Information
Standard status
Active
Size
1,564 SF
Property subtype
2 Family
Building Details
Year Built
1869
Listing Agency:
Social & Co Realty
Listed By:
Nicholas Phillips · License #RES.0834842
(203) 507-9842
Source:
Lockandkeyre
Added: Jul 17
Changed: Sep 5
Last Checked: Sep 5 at 6:25AM
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 Social & Co Realty
Investment Insights
Based on property information with market context.
This for-sale multifamily residential income property is presented as a versatile option for both investors and owner-occupants. The offering includes well-sized units with functional layouts and comfortable living spaces.
The property is located in Waterbury’s Washington Hill neighborhood, with convenient access to shopping, restaurants, schools, parks, public transportation, downtown Waterbury, and major highways. Public transit is rated as having a “Good” score, and walking is rated as “Very Walkable,” with a Walk Score of 89.
The combination of multi-family configuration and walkability supports a range of residential use needs within the immediate Waterbury area.
The property is located in Waterbury’s Washington Hill neighborhood, with convenient access to shopping, restaurants, schools, parks, public transportation, downtown Waterbury, and major highways. Public transit is rated as having a “Good” score, and walking is rated as “Very Walkable,” with a Walk Score of 89.
The combination of multi-family configuration and walkability supports a range of residential use needs within the immediate Waterbury area.
Key Highlights
- 1869‑built versatile multi‑family property in Waterbury, CT
- Well‑sized units with functional layouts and comfortable living spaces
- Located in Waterbury’s Washington Hill neighborhood
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
$15,874
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
4.60%
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%
$317,480
$317.5K
Cap Rate 7%
$226,771
$226.8K
Cap Rate 9%
$176,378
$176.4K
Market Conditions
NOI Build-Up for 1,564 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
$31.0K $19.80/SF
− Vacancy
−$2.1K −$1.35/SF
EGI
$28.9K $18.45/SF
− OpEx
−$13.0K −$8.30/SF
NOI
$15.9K $10.15/SF
Area
Waterbury, CT
Vacancy
6.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$317,480
Cap Rate 7%
$226,771
Cap Rate 9%
$176,378
Alternative Uses
Best Use
Apartment 5plus
$226.8K
$198.4K – $264.6K
NOI $15,874 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$415.0K
$363.2K – $484.2K
NOI $29,053 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,037
Businesses Nearby
Explore this area
Business Placement
Demographics for 06706, CT
14,699
Population
5,907
Households
2.5
Avg Household Size
36
Median Age
16%
College-Educated
77%
High-School Grad
3.8 sq mi
ZIP Area
3,868
Density / Sq Mi
$51,770
Median Household Income
$32,375
Median Earnings
$1,233
Median Rent
$171,400
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?
Multifamily property - Versatile multi-family property with functional, well-sized units in a highly walkable Waterbury location.
Where is this multifamily property located?
The property is located at 11 Bergen Street Waterbury, CT.
What is the asking price?
The asking price for this property is $344,990.
What are key features of this property?
This property features: 1869‑built versatile multi‑family property in Waterbury, CT; Well‑sized units with functional layouts and comfortable living spaces; Located in Waterbury’s Washington Hill neighborhood
