Three-Unit Residential Income
New
For Sale
$525,000
224 Southmayd, Waterbury, CT 06705
All three apartments are occupied, and each includes washer and dryer hookups.
Property Size3,174 SF
Price / SF$165.41
Days on Market5
Property Features for 224 Southmayd
General Information
Standard status
Active
Size
3,174 SF
Total Parking Spaces
2
Property subtype
3 Family
Occupancy
100%
Site & Location
Neighborhood
Bouley Manor
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Amenities
washer/dryer hookups
Building Details
Year Built
1905
Buildings
1
Tenancy
Multi
Listing Agency:
Star Realty LLC
Listed By:
Sonya Nevins · License #REB.0788953
(203) 998-0407
Source:
Lockandkeyre
Added: Oct 26
Changed: Oct 29
Last Checked: Oct 28 at 4:43PM
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 Star Realty LLC
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Investment Insights
Based on property information with market context.
This 3,174-square-foot triplex, built in 1905, contains three apartments. Each unit has two bedrooms, one full bathroom, an additional room, and washer and dryer hookups. A two-car garage is also part of the property.
The building is fully occupied. Its address is 224 Southmayd, Waterbury, Connecticut 06705.
The building is fully occupied. Its address is 224 Southmayd, Waterbury, Connecticut 06705.
Key Highlights
- Three apartments, each with two bedrooms, one full bathroom, an additional room, and washer and dryer hookups
- 3,174 square feet; built in 1905
- Two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,760
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$715,200
$715.2K
Cap Rate 7%
$510,857
$510.9K
Cap Rate 9%
$397,333
$397.3K
Market Conditions
NOI Build-Up for 3,174 SF
Gross rent
$55.2K $17.40/SF
− Vacancy
−$4.1K −$1.31/SF
EGI
$51.1K $16.10/SF
− OpEx
−$15.3K −$4.83/SF
NOI
$35.8K $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 Rate 5%
$715,200
Cap Rate 7%
$510,857
Cap Rate 9%
$397,333
Alternative Uses
Best Use
Multifamily LT 5
$510.9K
$447.0K – $596.0K
NOI $35,760 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$460.2K
$402.7K – $536.9K
NOI $32,214 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$842.3K
$737.0K – $982.7K
NOI $58,960 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
839
Businesses Nearby
Explore this area
Business Placement
Demographics for 06705, CT
27,197
Population
12,222
Households
2.2
Avg Household Size
38
Median Age
18%
College-Educated
86%
High-School Grad
5.6 sq mi
ZIP Area
4,857
Density / Sq Mi
$53,169
Median Household Income
$41,327
Median Earnings
$1,165
Median Rent
$177,700
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
Frequently Asked Questions
What type of property is this?
Triplex - All three apartments are occupied, and each includes washer and dryer hookups.
Where is this triplex located?
The property is located at 224 Southmayd Waterbury, CT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three apartments, each with two bedrooms, one full bathroom, an additional room, and washer and dryer hookups; 3,174 square feet; built in 1905; Two‑car garage
