Updated Triplex with
For Sale
$450,000
237 Bishop St, Waterbury, CT 06704
Three-unit residential property with two refreshed apartments, gas utilities, and off-street parking in Waterbury.
Property Size2,555 SF
Price / SF$176.13
Days on Market147
Property Features for 237 Bishop St
General Information
Standard status
Active
Size
2,555 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
exterior could benefit from some improvements
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
Matos Level Eminent Realty
Listed By:
Ramon E. Matos (860) 268-3984 (860) 268-3984 · License #REB.0794590
(860) 268-3984
Source:
Jaida.mappmyhome
Added: May 22
Changed: Oct 1
Last Checked: Oct 14 at 11:21PM
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 Matos Level Eminent Realty
Investment Insights
Based on property information with market context.
This three-unit residential property contains 2,555 square feet and dates to 1900. Two apartments have been recently updated, while the first-floor unit is occupied by a long-term tenant under a month-to-month arrangement. Gas heat and gas water service are provided in each unit, and the property includes a sizable off-street parking area.
Located at 237 Bishop St in Waterbury, Connecticut, the property offers a three-unit configuration with existing occupancy and recently refreshed interiors. Exterior improvements remain to be completed, providing a clear scope for further property work.
Located at 237 Bishop St in Waterbury, Connecticut, the property offers a three-unit configuration with existing occupancy and recently refreshed interiors. Exterior improvements remain to be completed, providing a clear scope for further property work.
Key Highlights
- Three‑unit property with 2,555 square feet
- Two units recently updated
- First‑floor unit occupied by a long‑term tenant on a month‑to‑month basis
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,786
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,720
$575.7K
Cap Rate 7%
$411,229
$411.2K
Cap Rate 9%
$319,844
$319.8K
Market Conditions
NOI Build-Up for 2,555 SF
Gross rent
$44.5K $17.40/SF
− Vacancy
−$3.3K −$1.31/SF
EGI
$41.1K $16.10/SF
− OpEx
−$12.3K −$4.83/SF
NOI
$28.8K $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%
$575,720
Cap Rate 7%
$411,229
Cap Rate 9%
$319,844
Alternative Uses
Best Use
Multifamily LT 5
$411.2K
$359.8K – $479.8K
NOI $28,786 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$370.5K
$324.2K – $432.2K
NOI $25,932 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$678.0K
$593.3K – $791.0K
NOI $47,462 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with two refreshed apartments, gas utilities, and off-street parking in Waterbury.
Where is this triplex located?
The property is located at 237 Bishop St Waterbury, CT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three‑unit property with 2,555 square feet; Two units recently updated; First‑floor unit occupied by a long‑term tenant on a month‑to‑month basis
