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    Renovated Turn-Key Three-Family Home Title is generated by Realmo AI

    54 Plaza Avenue, Waterbury, CT 06710

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    Claim this Listing
    For Sale
    $689,900

    Fully renovated three-family home with new systems and modern amenities.

    Type:Multi-Family / 3 Family
    Property size:
    3,761 SF
    Price / SF:
    $183/SF
    Added:
    Jan 7, 2026
    Days on Market:
    149
    Last Refresh:
    Mar 13 at 6:46 pm

    Property Features for 54 Plaza Avenue

    General Information

    Standard status
    Active
    Size
    3,761 SF
    Property subtype
    Multi-Family / 3 Family

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Alexia Andrade

    Listing agent Alexia Andrade License #RES.0815052

    Listing office US Asset Realty

    Listing date Jan 7, 2026

    Source Compass

    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 US Asset Realty

    HighLights

    • Fully renovated, turn‑key 3‑family home with all major systems replaced.
    • Brand new kitchens and bathrooms in every unit.
    • Energy efficient with spray foam insulation and soundproofing.
    • Excellent rental appeal and income potential.
    • Convenient location near shopping, restaurants, hospitals, public transportation, and major highways.
    • Secured camera system covering the entire perimeter.

    Overview

    This fully renovated, turn-key three-family home offers quality, efficiency, and long-term peace of mind. Each unit features updated kitchens and bathrooms, hardwood floors, bright layouts, generous room sizes, and natural light. All major systems have been replaced, including new plumbing, electrical, HVAC, siding, roof, and windows. Energy efficiency and comfort are enhanced by spray foam insulation in exterior walls and roof, as well as insulation between floors for soundproofing and year-round comfort. A secured camera system covers the entire perimeter. The property is suitable for investors and owner-occupants, offering rental appeal with the option to live in one unit while generating income from the others. The property is conveniently located near shopping, restaurants, hospitals, public transportation, and major highways. The property size is 3761 square feet.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $65.4k $17.40
    − Vacancy −$4.9k −$1.31
    EGI $60.5k $16.10
    − OpEx −$18.2k −$4.83
    NOI $42.4k $11.27
    3,761 SF · lease $17.40/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $605.3K
    $529.7K – $706.2K (±1% cap)
    NOI $42,373 @ 7.0% cap · market cap 6.14%
    Second Best
    Apartment 5plus
    $545.3K
    $477.2K – $636.2K (±1% cap)
    NOI $38,172 @ 7.0% cap · market cap 5.53%
    Theoretical Best
    Office A
    $998.1K
    $873.3K – $1.16M (±1% cap)
    NOI $69,864 @ 7.0% cap · market cap 10.13%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0504106
    Latitude
    41.56643

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    FAQs

    What type of property is this?
    Triplex - Fully renovated three-family home with new systems and modern amenities.
    Where is this triplex located?
    The property is located at 54 Plaza Avenue Waterbury, CT.
    What is the asking price?
    The asking price for this property is $689,900.
    What are key features of this property?
    This property features: Fully renovated, turn‑key 3‑family home with all major systems replaced.; Brand new kitchens and bathrooms in every unit.; Energy efficient with spray foam insulation and soundproofing.
    (800) 913-1936
    We can help!
    Listing Contact
    Alexia Andrade
    Real Estate License ID: RES.0815052
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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