Two-Family
For Sale
$280,000
21 W Farm Street, Waterbury, CT 06704
MULTI_FAMILY - Waterbury, CT
Property Size2,024 SF
Lot Size0.08 Acres
Price / SF$138.34
Days on Market95
Property Features for 21 W Farm Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 4, Basement, Bathroom 1, Bathroom 2, Bedroom 1
Basement
Full
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
GPS FRIENDLY
Special listing conditions
Short Sale
Standard status
Active
Size
2,024 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
3677
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1900
Architectural style
Other
Listing Agency:
mygoodagent
(888) 257-8265
Listed By:
Thelma Flaz-Hernandez
(917) 932-6875
Added: May 18
Changed: Aug 16
Last Checked: Aug 20 at 2:06PM
MLS# 24175942
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 two-family duplex is offered in as-is condition and is best suited for investors or owner-occupants planning renovation and value-add improvements. The property includes window unit(s) for cooling and is supported by public water and public sewer service.
The building was constructed in 1900 and sits on a 0.08-acre lot. The total property size is 2,024 square feet. Interior layout includes a basement plus multiple bedrooms and bathrooms, with rooms listed as Basement, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 1, and Bathroom 2.
Conveniently located near shopping, schools, public transportation, and major routes, the duplex offers practical access for tenants and everyday living.
The building was constructed in 1900 and sits on a 0.08-acre lot. The total property size is 2,024 square feet. Interior layout includes a basement plus multiple bedrooms and bathrooms, with rooms listed as Basement, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 1, and Bathroom 2.
Conveniently located near shopping, schools, public transportation, and major routes, the duplex offers practical access for tenants and everyday living.
Key Highlights
- Two‑family duplex sold as‑is
- 0.08‑acre lot
- 2,024 SF building size
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
$22,803
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
8.14%
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%
$456,060
$456.1K
Cap Rate 7%
$325,757
$325.8K
Cap Rate 9%
$253,367
$253.4K
Market Conditions
NOI Build-Up for 2,024 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
$35.2K $17.40/SF
− Vacancy
−$2.6K −$1.31/SF
EGI
$32.6K $16.10/SF
− OpEx
−$9.8K −$4.83/SF
NOI
$22.8K $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%
$456,060
Cap Rate 7%
$325,757
Cap Rate 9%
$253,367
Alternative Uses
Best Use
Multifamily LT 5
$325.8K
$285.0K – $380.1K
NOI $22,803 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$293.5K
$256.8K – $342.4K
NOI $20,543 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$537.1K
$470.0K – $626.6K
NOI $37,598 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
703
Businesses Nearby
Explore this area
Business Placement
Demographics for 06704, CT
27,300
Population
12,987
Households
2.1
Avg Household Size
34
Median Age
14%
College-Educated
78%
High-School Grad
8.1 sq mi
ZIP Area
3,370
Density / Sq Mi
$47,848
Median Household Income
$33,090
Median Earnings
$1,202
Median Rent
$178,500
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?
Duplex - Zoned RM and served by public water and public sewer with window unit cooling, sold as-is and ready for renovation.
Where is this duplex located?
The property is located at 21 W Farm Street Waterbury, CT.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑family duplex sold as‑is; 0.08‑acre lot; 2,024 SF building size
