Two-Unit Duplex with Detached
New
For Sale
$339,900
206 Chipman Street, Waterbury, CT 06708
Updated kitchens and baths, enclosed porches, separate utilities, and off-street parking support practical two-unit living.
Property Size1,508 SF
Price / SF$225.40
Days on Market4
Property Features for 206 Chipman Street
General Information
Standard status
Active
Size
1,508 SF
Property subtype
2 Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
enclosed porches
basement
detached garage
Building Details
Year Built
1918
Listing Agency:
Mapleridge Realty
Listed By:
Tommy Dorso
(203) 725-7004
Source:
Lockandkeyre
Added: Sep 7
Changed: Sep 9
Last Checked: Sep 10 at 5:24AM
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.
This two-family duplex at 206 Chipman Street includes two residential units, each with two bedrooms, living space, an eat-in kitchen, a renovated bathroom, enclosed porch, and closet storage. The property sits on a level lot measuring more than half an acre and includes a dry basement for additional storage. Separate utilities serve the units.
A detached two-car garage and off-street parking complement the building. Recent improvements include the roof, windows, front walkways, concrete garage floor, electrical panel, high-efficiency furnace, and fire-rated doors. The property is located in Waterbury’s Town Plot section, seconds from major highways.
A detached two-car garage and off-street parking complement the building. Recent improvements include the roof, windows, front walkways, concrete garage floor, electrical panel, high-efficiency furnace, and fire-rated doors. The property is located in Waterbury’s Town Plot section, seconds from major highways.
Key Highlights
- Two‑family duplex with two bedrooms in each unit
- Level lot measuring more than half an acre
- Detached two‑car garage plus off‑street parking
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
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Current Use
Lease Details
2
Residential units
Yes
Highway 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated kitchens and baths, enclosed porches, separate utilities, and off-street parking support practical two-unit living.
Where is this duplex located?
The property is located at 206 Chipman Street 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: Two‑family duplex with two bedrooms in each unit; Level lot measuring more than half an acre; Detached two‑car garage plus off‑street parking
