Permitted Rooming House with
34 Mitchell Avenue Waterbury, CT 06710
34 Mitchell Avenue, Waterbury, CT, 06710
$525,000
For Sale
$525,000
Fully occupied 14-unit rooming house with five-bay garage.
Property Size3,754 SF
Price / SF$139.85
Days on Market110
Property Features for 34 Mitchell Avenue
General Information
- Standard status
- Active
- Size
- 3,754 SF
- Property subtype
- Rooming House
Building Details
- Year Built
- 1895
Listing Agency
Coldwell Banker Calabro
(203) 715-2772
Listed by
Lucas Chaves
(203) 715-2772
Source
Lockandkeyre
Added: Apr 2 Updated: Jul 10 at 1:14 pm Checked: Jul 19 at 4:20 am
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
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.
Local Financial Insights For Apartment 5plus
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 | $74.3k | $19.80 |
| − Vacancy | −$5.1k | −$1.35 |
| EGI | $69.3k | $18.45 |
| − OpEx | −$31.2k | −$8.30 |
| NOI | $38.1k | $10.15 |
3,754 SF · lease $19.80/SF/yr · vacancy 6.80% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
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.
