Four-Unit Multifamily
New
For Sale
$550,000
455 Congress Avenue, Waterbury, CT 06708
MULTI_FAMILY - Waterbury, CT
Property Size3,862 SF
Lot Size0.23 Acres
Price / SF$142.41
Days on Market5
Property Features for 455 Congress Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 3, Bedroom 7, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 5, Bedroom 6, Basement, Bathroom 4, Bedroom 2
Parking
5
Patio and Porch features
Patio
Exterior features
Porch,Patio
Basement
Full, Partially Finished
Lot features
City Views, Sloping Lot
Elementary school
Per Board of Ed
High school
John F. Kennedy
Directions
Highland Ave to Congress Ave
Subdivision
Town Plot
Standard status
Active
Size
3,862 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9184
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1921
Architectural style
Other
Listing Agency:
Ghent Realty Advisors
(203) 597-1077
Listed By:
Robert Ghent · License #REB.0790043
(203) 543-2847
Added: Aug 4
Last Checked: Aug 8 at 10:06AM
MLS# 24195977
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 455 Congress Avenue in Waterbury, this four-family property contains approximately 3,862 square feet of living area. The unit mix includes three two-bedroom, one-bath apartments and one one-bedroom, one-bath apartment, providing a range of residential layouts within the same building. Exterior features include a porch and patio, while the property also offers off-street parking and a detached garage.
Built in 1921, the property occupies 0.23 acres and is served by public water and public sewer. Its Town Plot location provides proximity to shopping, schools, public transportation, major highways, and downtown Waterbury. RM zoning supports the property’s multifamily classification.
Built in 1921, the property occupies 0.23 acres and is served by public water and public sewer. Its Town Plot location provides proximity to shopping, schools, public transportation, major highways, and downtown Waterbury. RM zoning supports the property’s multifamily classification.
Key Highlights
- Four‑family property with three two‑bedroom units and one one‑bedroom unit
- Approximately 3,862 square feet of living area
- 0.23‑acre lot with off‑street parking and detached garage
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
Lease Details
4
Residential units
Yes
Highway access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - RM-zoned building includes 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‑family property with three two‑bedroom units and one one‑bedroom unit; Approximately 3,862 square feet of living area; 0.23‑acre lot with off‑street parking and detached garage
