Waterbury Two-Family Investment
For Sale
$280,000
21 West Farm Street, Waterbury, CT 06704
Two-family property in Waterbury, ideal for investors or owner-occupants.
Property Size1,900 SF
Price / SF$138.34
Days on Market108
Property Features for 21 West Farm Street
General Information
Standard status
Active
Size
1,900 SF
Property subtype
2 Family
Building Details
Building Size
1,900 SF
Year Built
1900
Listing Agency:
mygoodagent
(917) 932-6875
Listed By:
Thelma Flaz-Hernandez · License #452508574
(917) 932-6875
Source:
Iverty
Added: May 15
Changed: Aug 28
Last Checked: Aug 29 at 8:39AM
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 mygoodagent
Investment Insights
Based on property information with market context.
This two-family property in Waterbury presents an opportunity for investors or owner occupants. The property requires renovation, offering potential for value-add improvements. Its location provides convenient access to shopping, schools, public transportation, and major routes. The property is sold as is. The walk score is 62, indicating it is somewhat walkable. The bike score is 25, indicating it is somewhat bikeable. The transit score is 37, indicating some transit options are available.
Key Highlights
- Two‑family property: Ideal for investors or owner‑occupants seeking rental income
- Value‑add opportunity: Property requires renovation, allowing for customized improvements and increased value
- Convenient location: Close proximity to shopping, schools, public transportation, and major routes
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
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 - Two-family property in Waterbury, ideal for investors or owner-occupants.
Where is this duplex located?
The property is located at 21 West 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 property: Ideal for investors or owner‑occupants seeking rental income; Value‑add opportunity: Property requires renovation, allowing for customized improvements and increased value; Convenient location: Close proximity to shopping, schools, public transportation, and major routes
