3-Unit Multifamily
New
For Sale
$499,900
121 Wolcott Street, Waterbury, CT 06705
Separate utilities and tenant-paid gas heat and hot water support straightforward property operations.
Property Size3,675 SF
Days on Market6
Property Features for 121 Wolcott Street
General Information
Standard status
Active
Size
3,675 SF
Property subtype
Multi Family Home
Zoning
RM
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,864
Building Details
Building Size
3,675 SF
Year Built
1915
Units
3
Listing Agency:
Oxford Realty
(203) 314-4219
Listed By:
Amanda Faroni-Sheehan · License #REB.0793328CT
(203) 314-4219
Source:
Westshorerealty
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 11 at 1:12PM
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.
Located at 121 Wolcott Street in Waterbury’s East End, this 1915 triplex contains three 3-bedroom, 1-bath apartments, each measuring approximately 1,200 SF. The property also includes finished attic or third-floor space with two means of egress, adding flexible additional area within the building. A couple of off-street parking spaces are provided.
Utilities are fully separate and paid by tenants, with individual electric panels and separate gas heat and hot water. The property is zoned RM and offers access to I-84, shopping, restaurants, public transportation, and other area amenities. Its configuration includes three large residential units along with additional finished upper-level space.
Utilities are fully separate and paid by tenants, with individual electric panels and separate gas heat and hot water. The property is zoned RM and offers access to I-84, shopping, restaurants, public transportation, and other area amenities. Its configuration includes three large residential units along with additional finished upper-level space.
Key Highlights
- Three 3‑bedroom, 1‑bath units, each approximately 1,200 SF
- Finished attic/third‑floor space with two means of egress
- Fully separate utilities, including separate electric panels
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
$41,404
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
8.28%
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%
$828,080
$828.1K
Cap Rate 7%
$591,486
$591.5K
Cap Rate 9%
$460,044
$460.0K
Market Conditions
NOI Build-Up for 3,675 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
$63.9K $17.40/SF
− Vacancy
−$4.8K −$1.31/SF
EGI
$59.1K $16.10/SF
− OpEx
−$17.7K −$4.83/SF
NOI
$41.4K $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%
$828,080
Cap Rate 7%
$591,486
Cap Rate 9%
$460,044
Alternative Uses
Best Use
Multifamily LT 5
$591.5K
$517.6K – $690.1K
NOI $41,404 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$532.8K
$466.2K – $621.7K
NOI $37,299 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$975.2K
$853.3K – $1.14M
NOI $68,267 @ 7.0% cap · market cap 13.66%
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
1,043
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 - Separate utilities and tenant-paid gas heat and hot water support straightforward property operations.
Where is this triplex located?
The property is located at 121 Wolcott Street Waterbury, CT.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Three 3‑bedroom, 1‑bath units, each approximately 1,200 SF; Finished attic/third‑floor space with two means of egress; Fully separate utilities, including separate electric panels
