Brick Two-Family
For Sale
$364,900
Pending
590 North Walnut Street, Waterbury, CT 06704
Well-maintained brick two-family with a finished basement, half bath, and tandem two-car garage.
Property Size1,980 SF
Days on Market123
Property Features for 590 North Walnut Street
General Information
Standard status
Pending
Size
1,980 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1948
Listing Agency:
Coldwell Banker Realty 2000
Listed By:
Noris Jimenez
(347) 653-1925
Source:
Lockandkeyre
Added: May 6
Changed: Aug 8
Last Checked: Jul 23 at 5:36AM
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 Coldwell Banker Realty 2000
Investment Insights
Based on property information with market context.
This well-maintained brick two-family home offers generous living space with a layout that functions like a single-family residence. The main unit features a bright, updated kitchen with stainless steel appliances and quartz surfaces, along with three bedrooms and a full bathroom. Additional interior space includes a finished basement with a convenient half bath.
A tandem two-car garage provides everyday convenience plus extra storage. The second-floor unit offers a private one-bedroom apartment with an open floor plan and a full bathroom/laundry area.
Located at 590 North Walnut Street in Waterbury, CT, the property presents two separate living units within a single brick building and is listed for sale at $364,900. The total property size is 1,980 square feet.
A tandem two-car garage provides everyday convenience plus extra storage. The second-floor unit offers a private one-bedroom apartment with an open floor plan and a full bathroom/laundry area.
Located at 590 North Walnut Street in Waterbury, CT, the property presents two separate living units within a single brick building and is listed for sale at $364,900. The total property size is 1,980 square feet.
Key Highlights
- Brick two‑family home built in 1948 with a layout that can be used like a single‑family residence
- Main unit features an updated kitchen with SS appliances and quartz, plus 3 bedrooms and a full bathroom
- Finished basement adds extra living space and includes a convenient half bath
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
$22,308
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
6.11%
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%
$446,160
$446.2K
Cap Rate 7%
$318,686
$318.7K
Cap Rate 9%
$247,867
$247.9K
Market Conditions
NOI Build-Up for 1,980 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
$34.5K $17.40/SF
− Vacancy
−$2.6K −$1.31/SF
EGI
$31.9K $16.10/SF
− OpEx
−$9.6K −$4.83/SF
NOI
$22.3K $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%
$446,160
Cap Rate 7%
$318,686
Cap Rate 9%
$247,867
Alternative Uses
Best Use
Multifamily LT 5
$318.7K
$278.9K – $371.8K
NOI $22,308 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$287.1K
$251.2K – $334.9K
NOI $20,096 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$525.4K
$459.8K – $613.0K
NOI $36,780 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
343
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 - Well-maintained brick two-family with a finished basement, half bath, and tandem two-car garage.
Where is this duplex located?
The property is located at 590 North Walnut Street Waterbury, CT.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Brick two‑family home built in 1948 with a layout that can be used like a single‑family residence; Main unit features an updated kitchen with SS appliances and quartz, plus 3 bedrooms and a full bathroom; Finished basement adds extra living space and includes a convenient half bath
