Two-Family Residential Income
For Sale
$290,000
Pending
265 Piedmont Street, Waterbury, CT 06706
Well-maintained two-family home with separate utility metering and flexible unit layout options.
Property Size1,467 SF
Days on Market63
Property Features for 265 Piedmont Street
General Information
Standard status
Pending
Size
1,467 SF
Property subtype
2 Family
Building Details
Year Built
1869
Listing Agency:
Regency Real Estate, LLC
Listed By:
David Aurigemma
(860) 406-5044
Source:
Lockandkeyre
Added: Jul 3
Changed: Aug 8
Last Checked: Jul 24 at 1:27PM
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 Regency Real Estate, LLC
Investment Insights
Based on property information with market context.
Well-maintained two-family residence offering flexible living arrangements. The first-floor unit is currently configured as a three-bedroom (legal four-bedroom) with a spacious eat-in kitchen flowing into the living room, 9-foot ceilings, gas radiator heat, a full bath with a large vanity and tub, and a generous bedroom with a walk-in closet. A fully plumbed brick fireplace provides an opportunity to add a wood-burning stove, and the kitchen can be reconfigured with a partition wall to convert the first-floor unit into a two-bedroom layout.
The second-floor unit features a galley-style kitchen with a washer/dryer area, a partially sunken living room with additional recreation space, and an oversized full bath with a large soaking tub, updated vanity, toilet, and spacious linen closet. A private front entrance leads directly to this unit, which includes a third-level bedroom.
Exterior improvements include aluminum siding, an attractive fieldstone foundation, a newer asphalt shingle roof, and newer gutters with gutter guards. Utilities are separately metered for gas heat and hot water, with one shared water meter, and shared laundry is located in the basement. Off-street parking is available.
The second-floor unit features a galley-style kitchen with a washer/dryer area, a partially sunken living room with additional recreation space, and an oversized full bath with a large soaking tub, updated vanity, toilet, and spacious linen closet. A private front entrance leads directly to this unit, which includes a third-level bedroom.
Exterior improvements include aluminum siding, an attractive fieldstone foundation, a newer asphalt shingle roof, and newer gutters with gutter guards. Utilities are separately metered for gas heat and hot water, with one shared water meter, and shared laundry is located in the basement. Off-street parking is available.
Key Highlights
- 1869‑built well‑maintained two‑family home with flexible living setup and separate utility metering.
- Currently configured as 3‑bed, legally a 4‑bedroom; first‑floor unit can be converted back by removing/adding partitions.
- First‑floor features an eat‑in kitchen, living room, 9‑foot ceilings, gas radiator heat, full bath, and a walk‑in closet bedroom.
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
$16,528
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
5.70%
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%
$330,560
$330.6K
Cap Rate 7%
$236,114
$236.1K
Cap Rate 9%
$183,644
$183.6K
Market Conditions
NOI Build-Up for 1,467 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
$25.5K $17.40/SF
− Vacancy
−$1.9K −$1.31/SF
EGI
$23.6K $16.10/SF
− OpEx
−$7.1K −$4.83/SF
NOI
$16.5K $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%
$330,560
Cap Rate 7%
$236,114
Cap Rate 9%
$183,644
Alternative Uses
Best Use
Multifamily LT 5
$236.1K
$206.6K – $275.5K
NOI $16,528 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$212.7K
$186.1K – $248.2K
NOI $14,889 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$389.3K
$340.6K – $454.2K
NOI $27,251 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
434
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 - Well-maintained two-family home with separate utility metering and flexible unit layout options.
Where is this duplex located?
The property is located at 265 Piedmont Street Waterbury, CT.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 1869‑built well‑maintained two‑family home with flexible living setup and separate utility metering.; Currently configured as 3‑bed, legally a 4‑bedroom; first‑floor unit can be converted back by removing/adding partitions.; First‑floor features an eat‑in kitchen, living room, 9‑foot ceilings, gas radiator heat, full bath, and a walk‑in closet bedroom.
