Four-Unit Multifamily
For Sale
$550,000
455 Congress Avenue, Waterbury, CT 06708
Well-maintained quadplex with varied apartment layouts, off-street parking, and a detached garage.
Property Size1,921 SF
Price / SF$142.41
Days on Market11
Property Features for 455 Congress Avenue
General Information
Standard status
Active
Size
1,921 SF
Property subtype
4 Family
Building Details
Building Size
1,921 SF
Year Built
1921
Listing Agency:
Ghent Realty Advisors
(203) 543-2847
Listed By:
Robert Ghent · License #REB.0790043
(203) 543-2847
Source:
Iverty
Added: Aug 2
Changed: Aug 11
Last Checked: Aug 12 at 6:55AM
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 Ghent Realty Advisors
Investment Insights
Based on property information with market context.
This 3,862-square-foot quadplex contains four apartments: three two-bedroom, one-bath units and one one-bedroom, one-bath unit. The property was built in 1921 and includes functional living areas, off-street parking, and a detached garage on a sizable lot.
Located at 455 Congress Avenue in Waterbury’s Town Plot neighborhood, the property is near shopping, schools, public transportation, major highways, and downtown Waterbury. Its four-unit configuration and varied unit mix provide a defined multifamily layout within an established residential setting.
Located at 455 Congress Avenue in Waterbury’s Town Plot neighborhood, the property is near shopping, schools, public transportation, major highways, and downtown Waterbury. Its four-unit configuration and varied unit mix provide a defined multifamily layout within an established residential setting.
Key Highlights
- Four‑unit multifamily property with three two‑bedroom units and one one‑bedroom unit
- Unit mix includes three two‑bedroom, one‑bath apartments and one one‑bedroom, one‑bath apartment
- Approximately 3,862 square feet of living area
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
$43,511
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
7.91%
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%
$870,220
$870.2K
Cap Rate 7%
$621,586
$621.6K
Cap Rate 9%
$483,456
$483.5K
Market Conditions
NOI Build-Up for 3,862 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
$67.2K $17.40/SF
− Vacancy
−$5.0K −$1.31/SF
EGI
$62.2K $16.10/SF
− OpEx
−$18.6K −$4.83/SF
NOI
$43.5K $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%
$870,220
Cap Rate 7%
$621,586
Cap Rate 9%
$483,456
Alternative Uses
Best Use
Multifamily LT 5
$621.6K
$543.9K – $725.2K
NOI $43,511 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$560.0K
$490.0K – $653.3K
NOI $39,197 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$1.02M
$896.8K – $1.20M
NOI $71,741 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 06708, CT
30,345
Population
13,061
Households
2.3
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
3,228
Density / Sq Mi
$63,705
Median Household Income
$40,515
Median Earnings
$1,275
Median Rent
$196,700
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?
Quadplex - Well-maintained quadplex with varied apartment layouts, off-street parking, and a detached garage.
Where is this quadplex located?
The property is located at 455 Congress Avenue Waterbury, CT.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four‑unit multifamily property with three two‑bedroom units and one one‑bedroom unit; Unit mix includes three two‑bedroom, one‑bath apartments and one one‑bedroom, one‑bath apartment; Approximately 3,862 square feet of living area
