Waterbury Three-Family Investment
For Sale
$295,000
225 Bishop St, Waterbury, CT 06704
Three-family property in Waterbury, Connecticut, with income potential.
Property Size2,673 SF
Price / SF$110.36
Days on Market151
Property Features for 225 Bishop St
General Information
Standard status
Active
Size
2,673 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Brass Moon Realty
Listed By:
Levi Judqin · License #REB.0791859
(203) 724-7127
Source:
Themialeteam
Added: Apr 27
Changed: Sep 20
Last Checked: Sep 22 at 8:42PM
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 Brass Moon Realty
Investment Insights
Based on property information with market context.
Located in Waterbury, Connecticut, this three-family property presents an investment opportunity. Each unit offers living space with separate utilities. The property includes off-street parking. It is situated near local shopping, restaurants, schools, parks, and major highways, providing accessibility for residents. The property is being sold as-is and is subject to short sale approval. The location has a walk score of 62, indicating it is somewhat walkable, a bike score of 25, indicating it is somewhat bikeable, and a transit score of 37, indicating some transit options are available.
Key Highlights
- Strong income potential as a 3‑family property.
- Separate utilities for each unit, simplifying management.
- Convenient location near shopping, restaurants, schools, parks, and major highways.
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
$27,130
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
9.20%
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%
$542,600
$542.6K
Cap Rate 7%
$387,571
$387.6K
Cap Rate 9%
$301,444
$301.4K
Market Conditions
NOI Build-Up for 2,673 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
$52.9K $19.80/SF
− Vacancy
−$3.6K −$1.35/SF
EGI
$49.3K $18.45/SF
− OpEx
−$22.2K −$8.30/SF
NOI
$27.1K $10.15/SF
Area
Waterbury, CT
Vacancy
6.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$542,600
Cap Rate 7%
$387,571
Cap Rate 9%
$301,444
Alternative Uses
Best Use
Multifamily LT 5
$430.2K
$376.4K – $501.9K
NOI $30,115 @ 7.0% cap · market cap 10.21%
Second Best
Apartment 5plus
$387.6K
$339.1K – $452.2K
NOI $27,130 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$709.3K
$620.7K – $827.6K
NOI $49,654 @ 7.0% cap · market cap 16.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
944
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family property in Waterbury, Connecticut, with income potential.
Where is this triplex located?
The property is located at 225 Bishop St Waterbury, CT.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Strong income potential as a 3‑family property.; Separate utilities for each unit, simplifying management.; Convenient location near shopping, restaurants, schools, parks, and major highways.
