Four-Unit Quadplex with Separate
For Sale
$649,999
Pending
62 Poplar St, Waterbury, CT 06708
Fully occupied building with updated electrical and individual utility service for each unit.
Property Size4,104 SF
Days on Market35
Property Features for 62 Poplar St
General Information
Standard status
Pending
Size
4,104 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 3BR, 1 x 2BR
Multifamily Units
4
Additional Details
Cap Rate
8%
Amenities
laundry hook up
Building Details
Year Built
1905
Listing Agency:
Dave Jones Realty, LLC
(203) 558-3653
Listed By:
Stephanie Oliver · License #RES.0815416
Source:
Themialeteam
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 25 at 5:42AM
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.
Located at 62 Poplar St in Waterbury, CT, this 4,104-square-foot quadplex was built in 1905 and contains four residential units. The first-, second-, and third-floor apartments each offer 3 bedrooms, an eat-in kitchen, living room, and dining room. The lower-level apartment provides 2 bedrooms. All units include laundry hookups and vinyl flooring throughout.
The property is fully occupied and each unit is served by separate utilities. Updated electrical systems support the existing configuration, while the reported 8% CAP rate provides an operating metric for review. The building is positioned near highways, transportation, and schools.
The property is fully occupied and each unit is served by separate utilities. Updated electrical systems support the existing configuration, while the reported 8% CAP rate provides an operating metric for review. The building is positioned near highways, transportation, and schools.
Key Highlights
- Four residential units in a 4,104‑square‑foot quadplex
- 8% CAP rate with the property fully occupied
- Three units offer 3 bedrooms; lower‑level unit has 2 bedrooms
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
Yes
Highway access
Yes
Utilities to site
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 building with updated electrical and individual utility service for each unit.
Where is this quadplex located?
The property is located at 62 Poplar St 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: Four residential units in a 4,104‑square‑foot quadplex; 8% CAP rate with the property fully occupied; Three units offer 3 bedrooms; lower‑level unit has 2 bedrooms
