Two-Unit Duplex with Basement
New
For Sale
$475,000
20 Venice Avenue, Waterbury, CT 06708
Multi-Family For Sale, Units on different Floors, Waterbury, CT
Property Size2,400 SF
Lot Size0.17 Acres
Price / SF$197.92
Days on Market3
Property Features for 20 Venice Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RS
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bedroom 6, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 5, Bedroom 4
Exterior features
Gutters
Basement
Partial, Concrete
Lot features
Level Lot, Sloping Lot
Elementary school
Carrington
High school
Wilby
Directions
Bunker Hill Rd to Martone to Venice
Subdivision
Bunker Hill
Standard status
Active
Size
2,400 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
9732
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Cooling system
Central Air
Water source
Public
Amenities
laundry area
Building Details
Year built
1962
Architectural style
Other
Listing Agency:
www.HomeZu.com
(877) 249-5478
Listed By:
Jason Saphire · License #REB.0016418
(781) 492-7575
Added: Sep 8
Last Checked: Sep 10 at 4:06AM
MLS# 24205521
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,400-square-foot duplex contains two residential units arranged by floor. Each unit offers three bedrooms, a living room, dining area, kitchen, and full bathroom. A dedicated laundry area is located in the basement, adding practical utility to the property. Central air conditioning and hot-water baseboard heat serve the home, which was built in 1962. Exterior gutters are also included.
The property occupies 0.17 acres at 20 Venice Avenue in Waterbury, Connecticut. Public water and public sewer serve the building, and access to Route 8 and I-84 supports regional connectivity. RS zoning is identified for the property. The two-unit layout may accommodate an owner-occupant or an investor seeking a residential income property.
The property occupies 0.17 acres at 20 Venice Avenue in Waterbury, Connecticut. Public water and public sewer serve the building, and access to Route 8 and I-84 supports regional connectivity. RS zoning is identified for the property. The two-unit layout may accommodate an owner-occupant or an investor seeking a residential income property.
Key Highlights
- Two‑family duplex with 2,400 square feet of building area
- Two units, each with 3 bedrooms and 1 full bathroom
- Living room, dining area, and kitchen in each unit
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
$27,040
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
5.69%
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%
$540,800
$540.8K
Cap Rate 7%
$386,286
$386.3K
Cap Rate 9%
$300,444
$300.4K
Market Conditions
NOI Build-Up for 2,400 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
$41.8K $17.40/SF
− Vacancy
−$3.1K −$1.31/SF
EGI
$38.6K $16.10/SF
− OpEx
−$11.6K −$4.83/SF
NOI
$27.0K $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%
$540,800
Cap Rate 7%
$386,286
Cap Rate 9%
$300,444
Alternative Uses
Best Use
Multifamily LT 5
$386.3K
$338.0K – $450.7K
NOI $27,040 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$348.0K
$304.5K – $406.0K
NOI $24,359 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$636.9K
$557.3K – $743.0K
NOI $44,582 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
148
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes three bedrooms, separate living and dining areas, a kitchen, and a full bathroom.
Where is this duplex located?
The property is located at 20 Venice Avenue Waterbury, CT.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑family duplex with 2,400 square feet of building area; Two units, each with 3 bedrooms and 1 full bathroom; Living room, dining area, and kitchen in each unit
