Permitted Rooming House with
For Sale
$525,000
Pending
34 Mitchell Avenue, Waterbury, CT 06710
Fully occupied 14-unit rooming house with five-bay garage.
Property Size3,754 SF
Days on Market204
Property Features for 34 Mitchell Avenue
General Information
Standard status
Pending
Size
3,754 SF
Property subtype
Multi-Family / Rooming House
Zoning
RO
Taxes and HOA fees
Annual Taxes
$9,156
Amenities
4E673AFC957C5D55E0631A01100A17B4
Yes
Baseboard
17
Crawl Space, Access Via Hatch
Coin Op Laundry, Common Laundry Area
1st and 2nd floor common areas
Not Applicable
Building Details
Year Built
1895
Listing Agency:
Coldwell Banker Calabro
Listed By:
Lucas Chaves · License #RES.0830521
(203) 715-2772
Source:
Compass
Added: Apr 2
Changed: Oct 1
Last Checked: Oct 20 at 11:52PM
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 Coldwell Banker Calabro
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Investment Insights
Based on property information with market context.
This is a fully occupied 14-unit permitted rooming house with a 5-bay garage and 4 full bathrooms. The property features 12 single rooms, 1 double room, and a 1-bedroom apartment with a full kitchen and bathroom. There are 3 additional full bathrooms in common areas, one on each floor, all with tile. For safety and security, the property is equipped with 8 hard-wired ring cameras, pin code locks on the front door and common area bathrooms, and a hard-wired fire system. Common areas include 3 coin washers and 3 coin dryers. Each unit has a microwave and fridge, and the apartment also includes an electric stove. The entire building was insulated on all exterior walls and the attic in 2025 with USA Premium Foam R-5.1. The garage had new doors installed in 2024, and 4 bays are rented, while 1 bay is used for storage. A new 40-gallon gas water heater was installed in 2025. Heating is provided by electric baseboards in each unit, controlled by locked central thermostats. The owner is responsible for gas, water/sewer, electric, and internet, while trash removal is managed by the city. The property size is 3754 square feet.
Key Highlights
- Fully occupied 14‑unit permitted rooming house with strong cash flow potential.
- Includes a 5‑bay garage, with 4 bays currently rented for additional income.
- Enhanced security features: 8 hard‑wired Ring cameras, pin code locks, and hard‑wired fire system.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,101
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$762,020
$762.0K
Cap Rate 7%
$544,300
$544.3K
Cap Rate 9%
$423,344
$423.3K
Market Conditions
NOI Build-Up for 3,754 SF
Gross rent
$74.3K $19.80/SF
− Vacancy
−$5.1K −$1.35/SF
EGI
$69.3K $18.45/SF
− OpEx
−$31.2K −$8.30/SF
NOI
$38.1K $10.15/SF
Area
Waterbury, CT
Vacancy
6.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$762,020
Cap Rate 7%
$544,300
Cap Rate 9%
$423,344
Alternative Uses
Best Use
Apartment 5plus
$544.3K
$476.3K – $635.0K
NOI $38,101 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$996.2K
$871.7K – $1.16M
NOI $69,734 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 06710, CT
11,056
Population
4,515
Households
2.4
Avg Household Size
32
Median Age
15%
College-Educated
71%
High-School Grad
1.0 sq mi
ZIP Area
11,056
Density / Sq Mi
$42,774
Median Household Income
$33,880
Median Earnings
$1,135
Median Rent
$219,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Fully occupied 14-unit rooming house with five-bay garage.
Where is this multifamily property located?
The property is located at 34 Mitchell Avenue Waterbury, CT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Fully occupied 14‑unit permitted rooming house with strong cash flow potential.; Includes a 5‑bay garage, with 4 bays currently rented for additional income.; Enhanced security features: 8 hard‑wired Ring cameras, pin code locks, and hard‑wired fire system.
