Two-Family
New
For Sale
$379,900
287 Circular Avenue, Waterbury, CT 06705
Two residential units with a 5/5 configuration in Waterbury’s East End.
Property Size2,184 SF
Price / SF$173.95
Days on Market4
Property Features for 287 Circular Avenue
General Information
Standard status
Active
Size
2,184 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1921
Listing Agency:
Lamacchia Realty
Listed By:
Mercedes Baus
(203) 706-9626
Source:
Lockandkeyre
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 6:07AM
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 Lamacchia Realty
Investment Insights
Based on property information with market context.
This duplex contains two residential units arranged in a 5/5 configuration, with a total property size of 2,184 SF. The building was constructed in 1921.
Located at 287 Circular Avenue in Waterbury, Connecticut, the property is identified within the East End. The two-family layout provides a straightforward residential income configuration.
Located at 287 Circular Avenue in Waterbury, Connecticut, the property is identified within the East End. The two-family layout provides a straightforward residential income configuration.
Key Highlights
- Two‑family duplex with a 5/5 unit configuration
- 2,184 SF property size
- Built in 1921
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
$24,606
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
6.48%
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%
$492,120
$492.1K
Cap Rate 7%
$351,514
$351.5K
Cap Rate 9%
$273,400
$273.4K
Market Conditions
NOI Build-Up for 2,184 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
$38.0K $17.40/SF
− Vacancy
−$2.9K −$1.31/SF
EGI
$35.2K $16.10/SF
− OpEx
−$10.5K −$4.83/SF
NOI
$24.6K $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%
$492,120
Cap Rate 7%
$351,514
Cap Rate 9%
$273,400
Alternative Uses
Best Use
Multifamily LT 5
$351.5K
$307.6K – $410.1K
NOI $24,606 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$316.7K
$277.1K – $369.4K
NOI $22,166 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$579.6K
$507.1K – $676.2K
NOI $40,570 @ 7.0% cap · market cap 10.68%
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
600
Businesses Nearby
Explore this area
Business Placement
Demographics for 06705, CT
27,197
Population
12,222
Households
2.2
Avg Household Size
38
Median Age
18%
College-Educated
86%
High-School Grad
5.6 sq mi
ZIP Area
4,857
Density / Sq Mi
$53,169
Median Household Income
$41,327
Median Earnings
$1,165
Median Rent
$177,700
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 with a 5/5 configuration in Waterbury’s East End.
Where is this duplex located?
The property is located at 287 Circular Avenue Waterbury, CT.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two‑family duplex with a 5/5 unit configuration; 2,184 SF property size; Built in 1921
