Residential Income Duplex with
For Sale
$249,000
Pending
222 Lounsbury Street, Waterbury, CT 06706
Duplex for sale with a walk-up attic, fenced yard, and a detached three-car garage with ample parking.
Property Size1,984 SF
Days on Market138
Property Features for 222 Lounsbury Street
General Information
Standard status
Pending
Size
1,984 SF
Total Parking Spaces
3
Property subtype
Multi-Family / 2 Family
Zoning
RL
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$5,746
Amenities
Yes
Hot Water
8
Walk-up
Not Applicable
Building Details
Year Built
1918
Listing Agency:
West View Properties, LLC
Listed By:
Kara Reynolds · License #RES.0821379
(203) 217-3711
Source:
Compass
Added: Apr 21
Changed: Aug 7
Last Checked: Jul 24 at 1:58PM
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 West View Properties, LLC
Investment Insights
Based on property information with market context.
This duplex includes a walk-up attic and offers additional storage, along with a fenced-in yard. The property also features a detached three-car garage and a driveway designed for ample parking.
The sale listing is for 222 Lounsbury Street in Waterbury, Connecticut, and photos are expected to be added soon.
The information provided highlights the existing storage features and on-site parking/garage amenities that can support renovation and rental-focused updates.
The sale listing is for 222 Lounsbury Street in Waterbury, Connecticut, and photos are expected to be added soon.
The information provided highlights the existing storage features and on-site parking/garage amenities that can support renovation and rental-focused updates.
Key Highlights
- Duplex built in 1918 with 8 total rooms
- Walk‑up attic for additional storage
- 3‑car detached garage plus driveway with ample 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
$22,353
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
8.98%
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%
$447,060
$447.1K
Cap Rate 7%
$319,329
$319.3K
Cap Rate 9%
$248,367
$248.4K
Market Conditions
NOI Build-Up for 1,984 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
$34.5K $17.40/SF
− Vacancy
−$2.6K −$1.31/SF
EGI
$31.9K $16.10/SF
− OpEx
−$9.6K −$4.83/SF
NOI
$22.4K $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%
$447,060
Cap Rate 7%
$319,329
Cap Rate 9%
$248,367
Alternative Uses
Best Use
Multifamily LT 5
$319.3K
$279.4K – $372.6K
NOI $22,353 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$287.7K
$251.7K – $335.6K
NOI $20,137 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$526.5K
$460.7K – $614.3K
NOI $36,855 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 06706, CT
14,699
Population
5,907
Households
2.5
Avg Household Size
36
Median Age
16%
College-Educated
77%
High-School Grad
3.8 sq mi
ZIP Area
3,868
Density / Sq Mi
$51,770
Median Household Income
$32,375
Median Earnings
$1,233
Median Rent
$171,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex for sale with a walk-up attic, fenced yard, and a detached three-car garage with ample parking.
Where is this duplex located?
The property is located at 222 Lounsbury Street Waterbury, CT.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Duplex built in 1918 with 8 total rooms; Walk‑up attic for additional storage; 3‑car detached garage plus driveway with ample parking
