Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Derby Multifamily Investment Opportunity Title is generated by Realmo AI

    63 Minerva Street, Derby, CT 06418

    View on Map
    Claim this Listing
    For Sale
    $349,500

    Two spacious apartments in Derby, near Route 34.

    Type:Multi-Family / 2 Family
    Property size:
    1,920 SF
    Price / SF:
    $182/SF
    Added:
    Dec 16, 2025
    Days on Market:
    166
    Last Refresh:
    Mar 13 at 1:59 pm

    Property Features for 63 Minerva Street

    General Information

    Standard status
    Active
    Size
    1,920 SF
    Property subtype
    Multi-Family / 2 Family

    Building Details

    Year Built
    1850

    We can help!

    Listing Contact
    Linda J Conchado

    Listing agent Linda J Conchado License #RES.0779803

    Listing office Century 21 AllPoints Realty

    Listing date Dec 16, 2025

    Source Compass

    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 Century 21 AllPoints Realty

    HighLights

    • Two spacious apartments, each with 2 bedrooms and 1 full bath, providing immediate rental income potential.
    • Prime location minutes from Route 34, train station, shopping, and downtown Derby.
    • Separate laundry hookups for each unit, adding convenience for tenants.
    • Updated first‑floor apartment with luxury vinyl flooring and refinished hardwood floors in the second‑floor apartment.
    • Off‑street parking available.
    • Solid structure with potential to convert the attic into a third unit (subject to town approval).

    Overview

    This property presents an investment opportunity in Derby, featuring two apartments. Each apartment includes two bedrooms and one full bath. The first floor has been updated with luxury vinyl flooring, while the second floor features refinished hardwood floors. Each unit is equipped with separate laundry hookups. There is a third-floor attic accessible from the outside. The property is located minutes from Route 34, the train station, shopping areas, and the revitalized downtown area. Off-street parking is available. The building has a solid structure. The property size is 1920 square feet.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Derby
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0880979
    Latitude
    41.3211732

    Nearby Similar for Sale

    • $770,000
      2,429 SF

      Established Restaurant and Bar Opportunity

      Well-established restaurant and bar in the heart of Derby.
      5 Main Street, Derby, CT 06418
      View Details
    • $469,900
      1,800 SF

      Cozy Two-Family Home

      Two-family home ideal for owner-occupants or investors.
      48 Mountain Street, Derby, CT 06418
      View Details
    • $349,500
      1,920 SF

      Derby Multifamily Investment Opportunity

      Two spacious apartments near transportation, shopping, and revitalized downtown.
      63 Minerva Street, Derby, CT 06418
      View Details
    • $770,000

      Established Restaurant and Bar Opportunity

      Well-established restaurant and bar in the heart of Derby.
      5 Main St, Derby, CT 06418
      View Details
    • $770,000
      2,429 SF

      Established Restaurant and Bar Opportunity

      Well-established restaurant and bar for sale in downtown Derby.
      5 Main Street, Derby, CT 06418
      View Details
    • $1,375,000
      1,460 SF

      Move-in Ready Office Suite

      Spacious office suite in Derby's thriving downtown renaissance.
      17 Elizabeth St, Derby, CT
      View Details
    • $1,375,000
      13,500 SF

      Mixed-Use Building in Revitalized Downtown

      Mixed-use building with retail and office space in downtown Derby.
      17 Elizabeth Street, Derby, CT 06418
      View Details
    • $349,500

      Derby Investment Opportunity

      Two spacious apartments in Derby, CT, with potential for expansion.
      63 Minerva St, Derby, CT 06418
      View Details
    • $399,900

      Cozy Two-Family Home For Sale

      Two-family home with newer roof, deck, and off-street parking.
      38-40 Lakeview Ter, Derby, CT 06418
      View Details
    • $499,900
      2,128 SF

      Renovated Two-Family Home For Sale

      Spacious two-family home with renovated interiors, ideal for investors.
      121 Hawthorne Avenue, Derby, CT 06418
      View Details
    • $489,900
      2,616 SF

      Derby Duplex with Income Potential

      Two-unit duplex ideal for owner-occupancy with tenant income.
      28 McLaughlin Terrace, Derby, CT 06418
      View Details
    • $279,000
      1,950 SF

      Commercial/Industrial Building For Sale

      1,950 SF commercial/industrial building suitable for various businesses.
      42 Gilbert Street, Derby, CT 06418
      View Details

    FAQs

    What type of property is this?
    Duplex - Two spacious apartments in Derby, near Route 34.
    Where is this duplex located?
    The property is located at 63 Minerva Street Derby, CT.
    What is the asking price?
    The asking price for this property is $349,500.
    What are key features of this property?
    This property features: Two spacious apartments, each with 2 bedrooms and 1 full bath, providing immediate rental income potential.; Prime location minutes from Route 34, train station, shopping, and downtown Derby.; Separate laundry hookups for each unit, adding convenience for tenants.
    (203) 980-0549
    We can help!
    Listing Contact
    Linda J Conchado
    Real Estate License ID: RES.0779803
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    63 Minerva Street, Derby, CT 06418
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!