2-Family Duplex with
New
For Sale
$339,900
Pending
206 Chipman St, Waterbury, CT 06708
Updated interiors, separate utilities, and enclosed porches support practical multifamily use.
Property Size1,508 SF
Days on Market1
Property Features for 206 Chipman St
General Information
Standard status
Pending
Size
1,508 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
enclosed porches
Building Details
Building Size
1,508 SF
Year Built
1918
Listing Agency:
Mapleridge Realty
Listed By:
Tommy Dorso
(203) 725-7004
Source:
Elliman
Added: Sep 8
Last Checked: Sep 8 at 2:30PM
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 Mapleridge Realty
Investment Insights
Based on property information with market context.
Located at 206 Chipman St in Waterbury’s Town Plot section, this 1918 duplex contains two residential units. Each unit offers two bedrooms, an eat-in kitchen, a living room, a renovated bathroom, enclosed porch space, and closet storage. Interior improvements include new flooring throughout the units, while recent property upgrades include a new roof, windows, front walkways, concrete garage floor, owner’s panel, high-efficiency furnace, and fire-rated doors.
The property occupies a level lot measuring over half an acre, with a dry basement, a two-car detached garage, separate utilities, and off-street parking. It is located seconds from major highways and includes bike, walk, and transit scores of 19, 57, and 30, respectively.
The property occupies a level lot measuring over half an acre, with a dry basement, a two-car detached garage, separate utilities, and off-street parking. It is located seconds from major highways and includes bike, walk, and transit scores of 19, 57, and 30, respectively.
Key Highlights
- 2‑family duplex with two bedrooms in each unit
- Over half an acre on a level lot
- Two‑car detached garage with concrete floor
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
$16,990
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
5.00%
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%
$339,800
$339.8K
Cap Rate 7%
$242,714
$242.7K
Cap Rate 9%
$188,778
$188.8K
Market Conditions
NOI Build-Up for 1,508 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
$26.2K $17.40/SF
− Vacancy
−$2.0K −$1.31/SF
EGI
$24.3K $16.10/SF
− OpEx
−$7.3K −$4.83/SF
NOI
$17.0K $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%
$339,800
Cap Rate 7%
$242,714
Cap Rate 9%
$188,778
Alternative Uses
Best Use
Multifamily LT 5
$242.7K
$212.4K – $283.2K
NOI $16,990 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$218.6K
$191.3K – $255.1K
NOI $15,305 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$400.2K
$350.2K – $466.9K
NOI $28,013 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 06708, CT
30,345
Population
13,061
Households
2.3
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
3,228
Density / Sq Mi
$63,705
Median Household Income
$40,515
Median Earnings
$1,275
Median Rent
$196,700
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?
Duplex - Updated interiors, separate utilities, and enclosed porches support practical multifamily use.
Where is this duplex located?
The property is located at 206 Chipman St Waterbury, CT.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 2‑family duplex with two bedrooms in each unit; Over half an acre on a level lot; Two‑car detached garage with concrete floor
