Two-Family Home with
New
For Sale
$450,000
265 Congress Avenue, Waterbury, CT 06708
Multifamily residence with flexible bedroom layouts, a finished basement, and attic bedrooms across multiple levels.
Property Size2,362 SF
Lot Size0.50 Acres
Price / SF$190.52
Days on Market4
Property Features for 265 Congress Avenue
General Information
Standard status
Active
Size
2,362 SF
Total Parking Spaces
4
Lot size
0.50 Acres
Property subtype
2 Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1879
Listing Agency:
Brass City Homes Real Est. LLC
(203) 509-7248
Listed By:
Michael Grady · License #RES.0786904
(203) 509-7248
Source:
Lockandkeyre
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 20 at 4:24AM
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 City Homes Real Est. LLC
Investment Insights
Based on property information with market context.
This 2,362-square-foot duplex at 265 Congress Avenue includes two residential units within a 1879-built home. The first-floor unit has a modern kitchen, two bedrooms, one and one-half baths, and access to a finished basement with two additional bedrooms, a family room, and a full bath. The upper unit provides two bedrooms and a full bathroom, with a walk-up attic containing two more bedrooms.
The property occupies a 1/2-acre lot in Waterbury, Connecticut, with four-car off-street parking. Its multi-level arrangement and extensive bedroom count support both owner-occupancy and two-family residential use as described in the property information.
The property occupies a 1/2-acre lot in Waterbury, Connecticut, with four-car off-street parking. Its multi-level arrangement and extensive bedroom count support both owner-occupancy and two-family residential use as described in the property information.
Key Highlights
- 2,362‑square‑foot two‑family property in Waterbury, CT
- Situated on a 1/2‑acre lot
- Four‑car off‑street 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
$26,611
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
5.91%
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%
$532,220
$532.2K
Cap Rate 7%
$380,157
$380.2K
Cap Rate 9%
$295,678
$295.7K
Market Conditions
NOI Build-Up for 2,362 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
$41.1K $17.40/SF
− Vacancy
−$3.1K −$1.31/SF
EGI
$38.0K $16.10/SF
− OpEx
−$11.4K −$4.83/SF
NOI
$26.6K $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%
$532,220
Cap Rate 7%
$380,157
Cap Rate 9%
$295,678
Alternative Uses
Best Use
Multifamily LT 5
$380.2K
$332.6K – $443.5K
NOI $26,611 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$342.5K
$299.7K – $399.6K
NOI $23,973 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$626.8K
$548.5K – $731.3K
NOI $43,877 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
Explore this area
Business Placement
Demographics for 06708, CT
30,345
Population
13,061
Households
2.3
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
3,228
Density / Sq Mi
$63,705
Median Household Income
$40,515
Median Earnings
$1,275
Median Rent
$196,700
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 - Multifamily residence with flexible bedroom layouts, a finished basement, and attic bedrooms across multiple levels.
Where is this duplex located?
The property is located at 265 Congress Avenue 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: 2,362‑square‑foot two‑family property in Waterbury, CT; Situated on a 1/2‑acre lot; Four‑car off‑street parking
