Updated Two-Family
For Sale
$375,000
11 Cossett Street, Waterbury, CT 06704
Well-maintained two-family property with recent first-floor updates and a spacious second-floor unit with attic access.
Property Size1,804 SF
Price / SF$207.87
Days on Market51
Property Features for 11 Cossett Street
General Information
Standard status
Active
Size
1,804 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1860
Tenancy
Multi
Listing Agency:
Weichert, Realtors-On The Mark
Listed By:
Gregorio Santiago · License #RES.0800318
(203) 668-8862
Source:
Lockandkeyre
Added: Jul 17
Changed: Sep 4
Last Checked: Sep 5 at 6:20AM
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 Weichert, Realtors-On The Mark
Investment Insights
Based on property information with market context.
This well-maintained two-family residence includes a recently updated first-floor unit completed within the last six months. The second-floor unit is described as very spacious and provides attic access. Additional interior space is available in the attic, including an extra room and a bathroom connected to the second-floor unit.
The property is presented as a strong fit for either investor ownership or owner occupancy, with the two units currently reported to be month-to-month.
Overall, the home’s configuration supports flexible use across two separate units, with expanded potential through the connected attic layout.
The property is presented as a strong fit for either investor ownership or owner occupancy, with the two units currently reported to be month-to-month.
Overall, the home’s configuration supports flexible use across two separate units, with expanded potential through the connected attic layout.
Key Highlights
- Two‑family property built in 1860
- First‑floor unit recently updated within the last 6 months
- Spacious second‑floor unit with attic access
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
$20,325
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
5.42%
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%
$406,500
$406.5K
Cap Rate 7%
$290,357
$290.4K
Cap Rate 9%
$225,833
$225.8K
Market Conditions
NOI Build-Up for 1,804 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
$31.4K $17.40/SF
− Vacancy
−$2.4K −$1.31/SF
EGI
$29.0K $16.10/SF
− OpEx
−$8.7K −$4.83/SF
NOI
$20.3K $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%
$406,500
Cap Rate 7%
$290,357
Cap Rate 9%
$225,833
Alternative Uses
Best Use
Multifamily LT 5
$290.4K
$254.1K – $338.8K
NOI $20,325 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$261.6K
$228.9K – $305.2K
NOI $18,310 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$478.7K
$418.9K – $558.5K
NOI $33,511 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,337
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 - Well-maintained two-family property with recent first-floor updates and a spacious second-floor unit with attic access.
Where is this duplex located?
The property is located at 11 Cossett Street Waterbury, CT.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑family property built in 1860; First‑floor unit recently updated within the last 6 months; Spacious second‑floor unit with attic access
