Renovated Duplex with Finished
New
For Sale
$375,000
44 Piedmont St, Waterbury, CT 06706
Two updated units offer separate utilities, off-street parking, and added finished space for flexible occupancy.
Property Size1,521 SF
Days on Market2
Property Features for 44 Piedmont St
General Information
Standard status
Active
Size
1,521 SF
Property subtype
Multi Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Building Details
Building Size
1,521 SF
Year Built
1888
Buildings
1
Listing Agency:
OXFORD REALTY
(203) 314-4219
Listed By:
Amanda R. Faroni-Sheehan · License #REB.0793328CT
(203) 314-4219
Source:
Elliman
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 8:49AM
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 OXFORD REALTY
Investment Insights
Based on property information with market context.
This renovated duplex at 44 Piedmont St features two residences with refreshed interiors, neutral paint, newer flooring, updated kitchens with stainless steel appliances, and remodeled bathrooms. The first-floor unit includes approximately 600 additional SF of finished basement area with laundry. Replacement windows and vinyl siding provide practical exterior updates, while a private driveway and rear parking area serve the property.
Separate tenant-paid utilities include two electrical panels and two tankless COMBI systems serving heat and hot water. Built in 1888, the property is located in Waterbury’s South End, with a walk score of 72, a bike score of 37, and a transit score of 39.
Separate tenant-paid utilities include two electrical panels and two tankless COMBI systems serving heat and hot water. Built in 1888, the property is located in Waterbury’s South End, with a walk score of 72, a bike score of 37, and a transit score of 39.
Key Highlights
- Renovated duplex with two updated residential units
- First‑floor unit includes approximately 600 additional SF of finished basement space with laundry
- Separate tenant‑paid utilities with two electrical panels
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
$17,136
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
4.57%
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%
$342,720
$342.7K
Cap Rate 7%
$244,800
$244.8K
Cap Rate 9%
$190,400
$190.4K
Market Conditions
NOI Build-Up for 1,521 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
$26.5K $17.40/SF
− Vacancy
−$2.0K −$1.31/SF
EGI
$24.5K $16.10/SF
− OpEx
−$7.3K −$4.83/SF
NOI
$17.1K $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%
$342,720
Cap Rate 7%
$244,800
Cap Rate 9%
$190,400
Alternative Uses
Best Use
Multifamily LT 5
$244.8K
$214.2K – $285.6K
NOI $17,136 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$220.5K
$193.0K – $257.3K
NOI $15,437 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$403.6K
$353.2K – $470.9K
NOI $28,254 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
471
Businesses Nearby
Explore this area
Business Placement
Demographics for 06706, CT
14,699
Population
5,907
Households
2.5
Avg Household Size
36
Median Age
16%
College-Educated
77%
High-School Grad
3.8 sq mi
ZIP Area
3,868
Density / Sq Mi
$51,770
Median Household Income
$32,375
Median Earnings
$1,233
Median Rent
$171,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units offer separate utilities, off-street parking, and added finished space for flexible occupancy.
Where is this duplex located?
The property is located at 44 Piedmont St Waterbury, CT.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Renovated duplex with two updated residential units; First‑floor unit includes approximately 600 additional SF of finished basement space with laundry; Separate tenant‑paid utilities with two electrical panels
