Two-Family Home with Detached
For Sale
$475,000
Pending
60 Primrose Street, Waterbury, CT 06708
MULTI_FAMILY - Waterbury, CT
Property Size1,926 SF
Lot Size0.29 Acres
Days on Market63
Property Features for 60 Primrose Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RL
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4
Basement
Full
Lot features
Corner Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Highland Ave to Bradley Ave to Primrose St.
Subdivision
Town Plot
Standard status
Pending
Size
1,926 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
8425
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1948
Architectural style
Other
Listing Agency:
West View Properties, LLC
(860) 274-7838
Listed By:
Kara Reynolds · License #RES.0821379
(203) 217-3711
Added: Jun 19
Changed: Aug 17
Last Checked: Aug 20 at 4:06PM
MLS# 24182817
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Two-family duplex located at 60 Primrose Street in Waterbury, Connecticut. The property offers two residential units with separate living spaces, designed to support either owner-occupancy or investment use. Built in 1948, the home sits on a 0.29-acre lot and includes a detached multi-car garage that can serve parking, storage, or workshop needs.
The building is served by public water and public sewer, and features hot water heating. Room entries include a basement and bathrooms, with bedrooms listed as Bedroom 1 through Bedroom 4, providing flexibility for various tenant or household arrangements.
The property is zoned RL. It is positioned for convenient access to shopping, restaurants, parks, schools, major highways, and public transportation.
The building is served by public water and public sewer, and features hot water heating. Room entries include a basement and bathrooms, with bedrooms listed as Bedroom 1 through Bedroom 4, providing flexibility for various tenant or household arrangements.
The property is zoned RL. It is positioned for convenient access to shopping, restaurants, parks, schools, major highways, and public transportation.
Key Highlights
- Two residential units with separate living spaces
- 0.29‑acre lot
- Detached multi‑car garage for parking, storage, or workshop
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
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 - Two-family property with detached multi-car garage, public water and sewer, and hot water heating.
Where is this duplex located?
The property is located at 60 Primrose Street 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 residential units with separate living spaces; 0.29‑acre lot; Detached multi‑car garage for parking, storage, or workshop
