Duplex with Updated
For Sale
$349,900
50 Summer Street, Waterbury, CT 06704
Two-level residential income property with refreshed bathrooms, electric heat, appliances, and fenced outdoor areas.
Property Size2,466 SF
Price / SF$141.89
Days on Market200
Property Features for 50 Summer Street
General Information
Standard status
Active
Size
2,466 SF
Property subtype
Multi-Family / 2 Family
Zoning
RM
Taxes and HOA fees
Annual Taxes
$4,355
Amenities
Yes
Baseboard
10
Walk-In
Basement Hook-Up(s)
Not Applicable
Building Details
Year Built
1895
Listing Agency:
Vitale Realty
(203) 233-8306
Listed By:
Michael Vitale · License #RES.0703470
(203) 233-8306
Source:
Compass
Added: Feb 12
Changed: Aug 30
Last Checked: Aug 30 at 7:55PM
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 Vitale Realty
Investment Insights
Based on property information with market context.
This duplex at 50 Summer Street contains 2,466 square feet and was built in 1895. Each floor provides five rooms and three bedrooms, with electric baseboard heating serving the units. Recent improvements include newer bathrooms, hot water heaters, and appliances, while fencing adds separation around the property.
The property is zoned RM and includes basement hookups. Its two-floor layout supports separate residential occupancy within a single income-producing asset in Waterbury, Connecticut.
The property is zoned RM and includes basement hookups. Its two-floor layout supports separate residential occupancy within a single income-producing asset in Waterbury, Connecticut.
Key Highlights
- Two‑floor duplex with five rooms and three bedrooms on each floor
- 2,466 square feet on a 0.18‑acre parcel
- Newer bathrooms, hot water heaters, and appliances
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
$27,783
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
7.94%
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%
$555,660
$555.7K
Cap Rate 7%
$396,900
$396.9K
Cap Rate 9%
$308,700
$308.7K
Market Conditions
NOI Build-Up for 2,466 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
$42.9K $17.40/SF
− Vacancy
−$3.2K −$1.31/SF
EGI
$39.7K $16.10/SF
− OpEx
−$11.9K −$4.83/SF
NOI
$27.8K $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%
$555,660
Cap Rate 7%
$396,900
Cap Rate 9%
$308,700
Alternative Uses
Best Use
Multifamily LT 5
$396.9K
$347.3K – $463.1K
NOI $27,783 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$357.6K
$312.9K – $417.2K
NOI $25,029 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$654.4K
$572.6K – $763.5K
NOI $45,808 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,581
Businesses Nearby
Explore this area
Business Placement
Demographics for 06704, CT
27,300
Population
12,987
Households
2.1
Avg Household Size
34
Median Age
14%
College-Educated
78%
High-School Grad
8.1 sq mi
ZIP Area
3,370
Density / Sq Mi
$47,848
Median Household Income
$33,090
Median Earnings
$1,202
Median Rent
$178,500
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?
Duplex - Two-level residential income property with refreshed bathrooms, electric heat, appliances, and fenced outdoor areas.
Where is this duplex located?
The property is located at 50 Summer Street Waterbury, CT.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑floor duplex with five rooms and three bedrooms on each floor; 2,466 square feet on a 0.18‑acre parcel; Newer bathrooms, hot water heaters, and appliances
