Rebuilt Triplex with Modern
For Sale
Contact for pricing
156 Waterville St, Waterbury, CT 06710
Fully renovated three-family property with updated systems, contemporary finishes, and distinct layouts across three levels.
Property Size3,732 SF
Price / SF$144.69
Days on Market440
Property Features for 156 Waterville St
General Information
Standard status
Active
Size
3,732 SF
Property subtype
Multifamily
Zoning
RM
Units
Unit Mix
2 x 3BR, 1 x 2BR
Multifamily Units
3
Additional Details
Highway Access
Yes
Building Details
Year Built
1905
Buildings
1
Stories
3
Units
3
Listing Agency:
Coldwell Banker Realty
(860) 877-4682
Listed By:
Mustafa Muaremi · License #RES.0818283
Source:
Crexi
Added: Jun 19, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:01AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This three-family property contains 3,732 square feet of living space across three levels. Units 1 and 2 each provide three bedrooms, open-concept living areas, 8-foot ceilings, luxury plank flooring, spacious kitchens, quartz countertops, stainless steel appliances, designer tile backsplashes, tiled shower surrounds, updated lighting, and oversized windows. The third unit offers two bedrooms with pitched cathedral ceilings.
The property was gutted and rebuilt with a new roof, siding, decks, mechanical systems, plumbing, and electrical work. Improvements were fully permitted and professionally completed. Rebuilt front porches, blue siding, and white trim define the exterior. The property is located near downtown, Route 8, and I-84, and carries RM zoning.
The property was gutted and rebuilt with a new roof, siding, decks, mechanical systems, plumbing, and electrical work. Improvements were fully permitted and professionally completed. Rebuilt front porches, blue siding, and white trim define the exterior. The property is located near downtown, Route 8, and I-84, and carries RM zoning.
Key Highlights
- 3,732 SF triplex with living space arranged across three levels
- Two matching 3‑bedroom units plus a 2‑bedroom top‑floor unit
- Renovated with new roof, siding, decks, mechanicals, plumbing, and electrical
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
$42,047
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
7.79%
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%
$840,940
$840.9K
Cap Rate 7%
$600,671
$600.7K
Cap Rate 9%
$467,189
$467.2K
Market Conditions
NOI Build-Up for 3,732 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
$64.9K $17.40/SF
− Vacancy
−$4.9K −$1.31/SF
EGI
$60.1K $16.10/SF
− OpEx
−$18.0K −$4.83/SF
NOI
$42.0K $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%
$840,940
Cap Rate 7%
$600,671
Cap Rate 9%
$467,189
Alternative Uses
Best Use
Multifamily LT 5
$600.7K
$525.6K – $700.8K
NOI $42,047 @ 7.0% cap · market cap 7.79%
Second Best
Apartment 5plus
$541.1K
$473.5K – $631.3K
NOI $37,878 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$990.4K
$866.6K – $1.16M
NOI $69,326 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 06710, CT
11,056
Population
4,515
Households
2.4
Avg Household Size
32
Median Age
15%
College-Educated
71%
High-School Grad
1.0 sq mi
ZIP Area
11,056
Density / Sq Mi
$42,774
Median Household Income
$33,880
Median Earnings
$1,135
Median Rent
$219,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully renovated three-family property with updated systems, contemporary finishes, and distinct layouts across three levels.
Where is this triplex located?
The property is located at 156 Waterville St Waterbury, CT.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 3,732 SF triplex with living space arranged across three levels; Two matching 3‑bedroom units plus a 2‑bedroom top‑floor unit; Renovated with new roof, siding, decks, mechanicals, plumbing, and electrical
