Two-Family Home With
New
For Sale
$249,900
275 Congress Avenue, Waterbury, CT 06708
Two residential units offer spacious bedrooms, basement storage, and access to off-street parking.
Property Size1,454 SF
Price / SF$171.87
Days on Market4
Property Features for 275 Congress Avenue
General Information
Standard status
Active
Size
1,454 SF
Property subtype
2 Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1889
Listing Agency:
Anthony J Greco JR Real Estate
(203) 232-0016
Listed By:
Anthony Greco · License #REB.0755143
(203) 232-0016
Source:
Lockandkeyre
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 20 at 4:25AM
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 Anthony J Greco JR Real Estate
Investment Insights
Based on property information with market context.
This 1,454-square-foot two-family property was built in 1889 and includes spacious bedrooms, a large one-car garage, and a fenced lot. Additional functional space includes a full basement with walkout access, a walk-up attic, and ample storage. Replacement Thermopane windows, an architectural roof, natural gas heating, and newer hot water heaters are among the property improvements.
Located at 275 Congress Avenue in Waterbury, the property offers an in-town setting with convenient access to RT8 and I84. Off-street parking complements the garage and supports the needs of the two residential units.
Located at 275 Congress Avenue in Waterbury, the property offers an in-town setting with convenient access to RT8 and I84. Off-street parking complements the garage and supports the needs of the two residential units.
Key Highlights
- Two‑family property with 1,454 square feet
- Large 1‑car garage and off‑street parking
- Full basement with walkout access
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
$16,381
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
6.56%
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%
$327,620
$327.6K
Cap Rate 7%
$234,014
$234.0K
Cap Rate 9%
$182,011
$182.0K
Market Conditions
NOI Build-Up for 1,454 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
$25.3K $17.40/SF
− Vacancy
−$1.9K −$1.31/SF
EGI
$23.4K $16.10/SF
− OpEx
−$7.0K −$4.83/SF
NOI
$16.4K $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%
$327,620
Cap Rate 7%
$234,014
Cap Rate 9%
$182,011
Alternative Uses
Best Use
Multifamily LT 5
$234.0K
$204.8K – $273.0K
NOI $16,381 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$210.8K
$184.5K – $246.0K
NOI $14,757 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$385.9K
$337.6K – $450.2K
NOI $27,010 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
634
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 - Two residential units offer spacious bedrooms, basement storage, and access to off-street parking.
Where is this duplex located?
The property is located at 275 Congress Avenue Waterbury, CT.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑family property with 1,454 square feet; Large 1‑car garage and off‑street parking; Full basement with walkout access
