Four-Unit Residential Income
For Sale
$649,999
62 Poplar Street, Waterbury, CT 06708
Fully occupied four-unit building with updated electrical, separate utilities, and in-unit laundry hookups for each unit.
Property Size4,104 SF
Days on Market58
Property Features for 62 Poplar Street
General Information
Standard status
Active
Size
4,104 SF
Property subtype
Multi Family Home
Zoning
RM
Occupancy
100%
Net Operating Income
$53,255
Additional Details
Cap Rate
8%
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,390
Building Details
Building Size
4,104 SF
Year Built
1905
Units
4
Listing Agency:
Dave Jones Realty, LLC
(203) 558-3653
Listed By:
Stephanie Oliver · License #RES.0815416
(203) 558-3653
Source:
Westshorerealty
Added: Jun 29
Changed: Aug 25
Last Checked: Aug 24 at 12:48PM
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 Dave Jones Realty, LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property is fully occupied and consists of three upper-level apartments and one lower-level apartment. The first, second, and third floor units each feature three bedrooms along with an eat-in kitchen, living room, and dining room. The lower-level unit offers two bedrooms. The building includes updated electrical and vinyl flooring throughout, and all units have their own laundry hookups. Each apartment is separately metered, with all units on separate utilities.
The property is located close to highways, transportation, and schools, supporting convenient day-to-day access for tenants.
With apartment layouts that balance three-bedroom and two-bedroom options, this building can appeal to a range of tenant households while maintaining a straightforward unit mix. Separate utilities can also simplify ongoing operating management, and the combination of updated electrical and consistent interior finishes may reduce near-term maintenance concerns for new ownership.
The property is located close to highways, transportation, and schools, supporting convenient day-to-day access for tenants.
With apartment layouts that balance three-bedroom and two-bedroom options, this building can appeal to a range of tenant households while maintaining a straightforward unit mix. Separate utilities can also simplify ongoing operating management, and the combination of updated electrical and consistent interior finishes may reduce near-term maintenance concerns for new ownership.
Key Highlights
- Fully occupied 4‑family building with 3 units featuring 3 bedrooms and a lower‑level unit with 2 bedrooms
- Updated electrical and all units have separate utilities
- Each unit includes laundry hook‑up
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
$46,238
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
7.11%
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%
$924,760
$924.8K
Cap Rate 7%
$660,543
$660.5K
Cap Rate 9%
$513,756
$513.8K
Market Conditions
NOI Build-Up for 4,104 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
$71.4K $17.40/SF
− Vacancy
−$5.4K −$1.31/SF
EGI
$66.1K $16.10/SF
− OpEx
−$19.8K −$4.83/SF
NOI
$46.2K $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%
$924,760
Cap Rate 7%
$660,543
Cap Rate 9%
$513,756
Alternative Uses
Best Use
Multifamily LT 5
$660.5K
$578.0K – $770.6K
NOI $46,238 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$595.0K
$520.7K – $694.2K
NOI $41,653 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$1.09M
$953.0K – $1.27M
NOI $76,236 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
828
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?
Quadplex - Fully occupied four-unit building with updated electrical, separate utilities, and in-unit laundry hookups for each unit.
Where is this quadplex located?
The property is located at 62 Poplar Street Waterbury, CT.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Fully occupied 4‑family building with 3 units featuring 3 bedrooms and a lower‑level unit with 2 bedrooms; Updated electrical and all units have separate utilities; Each unit includes laundry hook‑up
