Renovated Triplex with
For Sale
$469,900
12 Aetna Street, Waterbury, CT 06704
Three residential units offer updated interiors, separate utilities, and off-street parking.
Property Size3,163 SF
Price / SF$148.56
Days on Market8
Property Features for 12 Aetna Street
General Information
Standard status
Active
Size
3,163 SF
Property subtype
3 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 4BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1903
Listing Agency:
Oxford Realty
(203) 314-4219
Listed By:
Amanda Faroni-Sheehan
(203) 314-4219
Source:
Lockandkeyre
Added: Aug 18
Changed: Aug 24
Last Checked: Aug 25 at 6:45AM
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 Oxford Realty
Investment Insights
Based on property information with market context.
This 3,163-square-foot triplex, built in 1903, contains two four-bedroom, one-bath apartments on the first and second floors and a two-bedroom, one-bath apartment on the third. Interior work includes refreshed kitchens and bathrooms, new paint, flooring, fixtures, and other improvements. The exterior is finished with low-maintenance vinyl siding, and the property includes a private driveway with off-street parking.
Each unit has separate, tenant-paid utilities, including gas heat and hot water. The first-floor apartment is available for an owner-occupant, while the remaining units provide rental income potential. The property is located at 12 Aetna Street in Waterbury’s North End, with access to major highways, shopping, public transportation, and area amenities.
Each unit has separate, tenant-paid utilities, including gas heat and hot water. The first-floor apartment is available for an owner-occupant, while the remaining units provide rental income potential. The property is located at 12 Aetna Street in Waterbury’s North End, with access to major highways, shopping, public transportation, and area amenities.
Key Highlights
- 3,163 SF triplex built in 1903
- Unit mix includes two 4‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit
- Renovated kitchens and bathrooms, fresh paint, updated flooring, and fixtures
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
$35,636
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
7.58%
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%
$712,720
$712.7K
Cap Rate 7%
$509,086
$509.1K
Cap Rate 9%
$395,956
$396.0K
Market Conditions
NOI Build-Up for 3,163 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
$55.0K $17.40/SF
− Vacancy
−$4.1K −$1.31/SF
EGI
$50.9K $16.10/SF
− OpEx
−$15.3K −$4.83/SF
NOI
$35.6K $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%
$712,720
Cap Rate 7%
$509,086
Cap Rate 9%
$395,956
Alternative Uses
Best Use
Multifamily LT 5
$509.1K
$445.5K – $593.9K
NOI $35,636 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$458.6K
$401.3K – $535.1K
NOI $32,103 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$839.4K
$734.5K – $979.3K
NOI $58,756 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
703
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?
Triplex - Three residential units offer updated interiors, separate utilities, and off-street parking.
Where is this triplex located?
The property is located at 12 Aetna Street Waterbury, CT.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: 3,163 SF triplex built in 1903; Unit mix includes two 4‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit; Renovated kitchens and bathrooms, fresh paint, updated flooring, and fixtures
