Two-Family Duplex with Detached
For Sale
$475,000
Pending
60 Primrose St, Waterbury, CT 06708
Well-maintained duplex offering separate living spaces and a detached multi-car garage for parking, storage, or workspace.
Property Size1,926 SF
Days on Market62
Property Features for 60 Primrose St
General Information
Standard status
Pending
Size
1,926 SF
Property subtype
Multi Family
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Building Details
Building Size
1,926 SF
Year Built
1948
Listing Agency:
West View Properties, LLC
(203) 217-3711
Listed By:
Kara Reynolds · License #RES.0821379
(203) 217-3711
Source:
Elliman
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 21 at 9:32AM
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 West View Properties, LLC
Investment Insights
Based on property information with market context.
This well-maintained two-family duplex includes two residential units with separate living spaces, making it suitable for an owner occupant who wants rental income or for an investor seeking a multi-unit property. The home sits on a generous lot and features a detached multi-car garage, providing additional space for parking, storage, or a potential workshop setup.
The property is located in Waterbury’s Town Plot neighborhood, with convenient access to everyday needs. It is positioned near shopping, restaurants, parks, schools, major highways, and public transportation, supporting flexible commuting and lifestyle options.
For tenants or buyers, the layout’s two-unit configuration can simplify renting by allowing separate households under one roof. The detached garage adds practical off-street parking and usable storage space, which can be valuable for longer-term comfort and organization. If you are looking for a straightforward income-producing two-family structure with functional site improvements, this property is worth a close look.
The property is located in Waterbury’s Town Plot neighborhood, with convenient access to everyday needs. It is positioned near shopping, restaurants, parks, schools, major highways, and public transportation, supporting flexible commuting and lifestyle options.
For tenants or buyers, the layout’s two-unit configuration can simplify renting by allowing separate households under one roof. The detached garage adds practical off-street parking and usable storage space, which can be valuable for longer-term comfort and organization. If you are looking for a straightforward income-producing two-family structure with functional site improvements, this property is worth a close look.
Key Highlights
- Two‑family duplex built in 1948 with separate living spaces
- Detached multi‑car garage for parking, storage, or workspace
- Well‑maintained income‑producing property with two residential units
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
$21,699
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
4.57%
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%
$433,980
$434.0K
Cap Rate 7%
$309,986
$310.0K
Cap Rate 9%
$241,100
$241.1K
Market Conditions
NOI Build-Up for 1,926 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
$33.5K $17.40/SF
− Vacancy
−$2.5K −$1.31/SF
EGI
$31.0K $16.10/SF
− OpEx
−$9.3K −$4.83/SF
NOI
$21.7K $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%
$433,980
Cap Rate 7%
$309,986
Cap Rate 9%
$241,100
Alternative Uses
Best Use
Multifamily LT 5
$310.0K
$271.2K – $361.7K
NOI $21,699 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$279.3K
$244.4K – $325.8K
NOI $19,548 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$511.1K
$447.2K – $596.3K
NOI $35,777 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
332
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
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex offering separate living spaces and a detached multi-car garage for parking, storage, or workspace.
Where is this duplex located?
The property is located at 60 Primrose St Waterbury, CT.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑family duplex built in 1948 with separate living spaces; Detached multi‑car garage for parking, storage, or workspace; Well‑maintained income‑producing property with two residential units
