Three-Unit Residential Income
For Sale
$469,000
18 Valentine Street, Waterbury, CT 06708
Three-family building with two 3-bedroom units and a third-floor 2-bedroom unit, plus detached two-car garage.
Property Size3,730 SF
Days on Market49
Property Features for 18 Valentine Street
General Information
Standard status
Active
Size
3,730 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Zoning
RS
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,822
Building Details
Building Size
3,730 SF
Year Built
1904
Units
3
Listing Agency:
Don Orsini Realty, LLC
(203) 525-5134
Listed By:
Donald Orsini · License #REB.0795103
(203) 525-5134
Source:
Westshorerealty
Added: Jul 8
Changed: Aug 24
Last Checked: Aug 23 at 8:30AM
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 Don Orsini Realty, LLC
Investment Insights
Based on property information with market context.
This three-unit residential income property offers a functional split layout across three floors. The first and second floors each include 3 bedrooms and 1 bathroom, while the third floor is configured as a 2-bedroom, 1-bath unit. Improvements include a detached 2-car garage and an above-ground pool. The property is being sold “as is.”
Located in Waterbury, the building benefits from walkable surroundings and access to public transit, with a bikeability score indicating somewhat limited cycling conditions.
The property configuration supports a straightforward rental setup with three separate units arranged by floor.
Located in Waterbury, the building benefits from walkable surroundings and access to public transit, with a bikeability score indicating somewhat limited cycling conditions.
The property configuration supports a straightforward rental setup with three separate units arranged by floor.
Key Highlights
- Three‑family building built in 1904
- Two units feature 3 bedrooms and 1 bathroom (first and second floors)
- Third‑floor unit offers 2 bedrooms and 1 bathroom
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
$42,024
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
8.96%
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%
$840,480
$840.5K
Cap Rate 7%
$600,343
$600.3K
Cap Rate 9%
$466,933
$466.9K
Market Conditions
NOI Build-Up for 3,730 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
$60.0K $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%
$840,480
Cap Rate 7%
$600,343
Cap Rate 9%
$466,933
Alternative Uses
Best Use
Multifamily LT 5
$600.3K
$525.3K – $700.4K
NOI $42,024 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$540.8K
$473.2K – $631.0K
NOI $37,858 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$989.8K
$866.1K – $1.15M
NOI $69,288 @ 7.0% cap · market cap 14.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
888
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?
Triplex - Three-family building with two 3-bedroom units and a third-floor 2-bedroom unit, plus detached two-car garage.
Where is this triplex located?
The property is located at 18 Valentine Street Waterbury, CT.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Three‑family building built in 1904; Two units feature 3 bedrooms and 1 bathroom (first and second floors); Third‑floor unit offers 2 bedrooms and 1 bathroom
