Renovated
New
For Sale
$530,000
209 Cooke St, Waterbury, CT 06710
Three-level multifamily property with a remodeled first-floor residence, full basement storage, and off-street parking.
Property Size3,988 SF
Days on Market7
Property Features for 209 Cooke St
General Information
Standard status
Active
Size
3,988 SF
Property subtype
Multi Family
Units
Unit Mix
4BR/2BA, 4BR/2BA, 3BR/1BA
Multifamily Units
3
Amenities
full basement
Building Details
Building Size
3,988 SF
Year Built
1900
Listing Agency:
eXp Realty
Listed By:
Mark Mermelstein · License #RES.0811095
(347) 634-2123
Source:
Elliman
Added: Sep 18
Last Checked: Sep 22 at 6:46PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This three-family property, built in 1900, contains 11 bedrooms and 5 full bathrooms across three residential levels. The first-floor unit has been comprehensively remodeled with an updated kitchen, new flooring, refreshed finishes, and an open layout, along with 4 bedrooms and 2 full bathrooms. The second-floor residence also provides 4 bedrooms and 2 full bathrooms, while the third-floor unit includes 3 bedrooms and 1 full bathroom.
A full basement provides additional storage, and the property includes off-street parking. The address has a walk score of 77, a transit score of 53, and a bike score of 40.
A full basement provides additional storage, and the property includes off-street parking. The address has a walk score of 77, a transit score of 53, and a bike score of 40.
Key Highlights
- 11 bedrooms and 5 full bathrooms across three residential units
- First‑floor unit remodeled with updated kitchen, new flooring, and refreshed finishes
- First‑floor residence includes 4 bedrooms and 2 full bathrooms
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
$44,931
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
8.48%
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%
$898,620
$898.6K
Cap Rate 7%
$641,871
$641.9K
Cap Rate 9%
$499,233
$499.2K
Market Conditions
NOI Build-Up for 3,988 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
$69.4K $17.40/SF
− Vacancy
−$5.2K −$1.31/SF
EGI
$64.2K $16.10/SF
− OpEx
−$19.3K −$4.83/SF
NOI
$44.9K $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%
$898,620
Cap Rate 7%
$641,871
Cap Rate 9%
$499,233
Alternative Uses
Best Use
Multifamily LT 5
$641.9K
$561.6K – $748.9K
NOI $44,931 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$578.2K
$506.0K – $674.6K
NOI $40,476 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$1.06M
$926.0K – $1.23M
NOI $74,081 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,776
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
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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?
Triplex - Three-level multifamily property with a remodeled first-floor residence, full basement storage, and off-street parking.
Where is this triplex located?
The property is located at 209 Cooke St Waterbury, CT.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 11 bedrooms and 5 full bathrooms across three residential units; First‑floor unit remodeled with updated kitchen, new flooring, and refreshed finishes; First‑floor residence includes 4 bedrooms and 2 full bathrooms
