Two-Family Corner
31 Hillcrest Avenue Waterbury, CT 06705
31 Hillcrest Avenue, Waterbury, CT, 06705
$425,000
For Sale
$425,000
Two-family home with an upper residence and a lower garden apartment featuring a private entrance and laundry hookup.
Property Size1,876 SF
Price / SF$226.55
Days on Market64
Property Features for 31 Hillcrest Avenue
General Information
- Standard status
- Active
- Size
- 1,876 SF
- Property subtype
- 2 Family
Building Details
- Year Built
- 1925
Listing agency
Drakeley Real Estate, Inc.
(203) 709-1423
Listed by
Jeffrey Boucher · License #RES.0802561
(203) 709-1423
Source
Lockandkeyre
Added: May 19 Updated: Jul 20 at 7:15PM Checked: Jul 21 at 3:13AM
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 Drakeley Real Estate, Inc.
Investment Insights
Based on property information with market context.
This well-maintained two-family home sits on a corner lot and offers two distinct living areas. The upper level is the main residence with an open living-dining layout, an updated kitchen, and a home office space. Upstairs includes a primary bedroom with vaulted ceilings, a second full bath, and an additional 11-by-17 bonus room currently used as a walk-in closet.
Below, the three-room garden apartment has its own private entrance and includes a laundry hookup. Exterior amenities include a private backyard and a partially covered deck that extends outdoor entertaining space. A detached outbuilding provides additional storage or conversion potential.
The property is described as fully renovated and conveniently located near shopping, parks, I-84, and the bus line, supporting both owner-occupant and investor use.
Below, the three-room garden apartment has its own private entrance and includes a laundry hookup. Exterior amenities include a private backyard and a partially covered deck that extends outdoor entertaining space. A detached outbuilding provides additional storage or conversion potential.
The property is described as fully renovated and conveniently located near shopping, parks, I-84, and the bus line, supporting both owner-occupant and investor use.
Key Highlights
- Two‑family home on a corner lot, built in 1925, with an upper residence and a lower garden apartment.
- Upper level includes a fully renovated 1,300+ SF main residence with an open living‑dining area and updated kitchen.
- Garden apartment has a private entrance and a laundry hookup.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.6k | $17.40 |
| − Vacancy | −$2.4k | −$1.31 |
| EGI | $30.2k | $16.10 |
| − OpEx | −$9.1k | −$4.83 |
| NOI | $21.1k | $11.27 |
1,876 SF · lease $17.40/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$301.9K
$264.2K – $352.3K
NOI $21,136 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$272.0K
$238.0K – $317.3K
NOI $19,040 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$497.8K
$435.6K – $580.8K
NOI $34,849 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-family home with an upper residence and a lower garden apartment featuring a private entrance and laundry hookup.
Where is this duplex located?
The property is located at 31 Hillcrest Avenue Waterbury, CT.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑family home on a corner lot, built in 1925, with an upper residence and a lower garden apartment.; Upper level includes a fully renovated 1,300+ SF main residence with an open living‑dining area and updated kitchen.; Garden apartment has a private entrance and a laundry hookup.
