Two-Unit Residential Income
For Sale
$229,900
Pending
51 Sunbeam Ave, Waterbury, CT 06705
Two separate 1-bedroom, 1-bath units with electric heating and off-street parking, plus a tandem-style four-car garage.
Property Size1,008 SF
Days on Market74
Property Features for 51 Sunbeam Ave
General Information
Standard status
Pending
Size
1,008 SF
Property subtype
Multi-Family
Building Details
Year Built
1975
Listing Agency:
Tier 1 Real Estate
Listed By:
Maria Theam (860) 877-0594 (860) 578-2016
(860) 680-2086
Source:
Ctshorelinehomesforsale
Added: Jul 2
Changed: Sep 10
Last Checked: Sep 12 at 9:54AM
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 Tier 1 Real Estate
Investment Insights
Based on property information with market context.
This two-unit residential income property was built in 1975 and includes two separate 1-bedroom, 1-bath units. Each unit has its own entrance and is heated with electricity. The home features vinyl siding, a covered front porch, and off-street parking.
Tenants are currently month-to-month. The attached garages are empty and set up in a tandem configuration, with room for four cars (two on each side).
The property includes manageable yard space and is described as being on a quiet residential street with easy access to shopping, public transportation, and major routes.
Tenants are currently month-to-month. The attached garages are empty and set up in a tandem configuration, with room for four cars (two on each side).
The property includes manageable yard space and is described as being on a quiet residential street with easy access to shopping, public transportation, and major routes.
Key Highlights
- 2‑family property built in 1975 with two separate 1‑bedroom, 1‑bath units, each with separate entrances
- Each unit has electric heating; total living area is 1,008 sq. ft.
- Tenants are on month‑to‑month terms
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
$11,357
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
4.94%
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%
$227,140
$227.1K
Cap Rate 7%
$162,243
$162.2K
Cap Rate 9%
$126,189
$126.2K
Market Conditions
NOI Build-Up for 1,008 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
$17.5K $17.40/SF
− Vacancy
−$1.3K −$1.31/SF
EGI
$16.2K $16.10/SF
− OpEx
−$4.9K −$4.83/SF
NOI
$11.4K $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%
$227,140
Cap Rate 7%
$162,243
Cap Rate 9%
$126,189
Alternative Uses
Best Use
Multifamily LT 5
$162.2K
$142.0K – $189.3K
NOI $11,357 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$146.2K
$127.9K – $170.5K
NOI $10,231 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$267.5K
$234.1K – $312.1K
NOI $18,725 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
Business Placement
Demographics for 06705, CT
27,197
Population
12,222
Households
2.2
Avg Household Size
38
Median Age
18%
College-Educated
86%
High-School Grad
5.6 sq mi
ZIP Area
4,857
Density / Sq Mi
$53,169
Median Household Income
$41,327
Median Earnings
$1,165
Median Rent
$177,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate 1-bedroom, 1-bath units with electric heating and off-street parking, plus a tandem-style four-car garage.
Where is this duplex located?
The property is located at 51 Sunbeam Ave Waterbury, CT.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 2‑family property built in 1975 with two separate 1‑bedroom, 1‑bath units, each with separate entrances; Each unit has electric heating; total living area is 1,008 sq. ft.; Tenants are on month‑to‑month terms
