Triplex with Fenced
For Sale
$329,900
64 South Street, Waterbury, CT 06706
Fully occupied triplex with varied unit layouts, updated windows, and separate heating systems across three floors.
Property Size2,880 SF
Price / SF$114.55
Days on Market170
Property Features for 64 South Street
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Multi-Family / 3 Family
Zoning
RM
Occupancy
100%
Units
Unit Mix
2 x 3BR, 1 x 2BR
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$5,686
Amenities
fenced-in backyard
No
Hot Water
15
Not Applicable
Building Details
Year Built
1911
Stories
3
Listing Agency:
CLMA Realty
(203) 479-0722
Listed By:
Daniel Hernandez · License #REB.0793906
(203) 479-0722
Source:
Compass
Added: Mar 14
Changed: Aug 30
Last Checked: Aug 30 at 1:31AM
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 CLMA Realty
Investment Insights
Based on property information with market context.
This 2,880-square-foot triplex, built in 1911, includes three residential units arranged across the first, second, and third floors. The first- and second-floor apartments each have three bedrooms, while the third-floor unit has two bedrooms. All units are occupied by month-to-month tenants, providing an established rental setup with flexible lease terms.
Replacement windows were installed within the last five years. Heating is provided by oil on the first floor and electric systems on the second and third floors. Gas lines are connected for the stoves, creating an existing utility connection for a potential future heating conversion. Additional property features include a fenced backyard and RM zoning. The property is located at 64 South Street in Waterbury, Connecticut.
Replacement windows were installed within the last five years. Heating is provided by oil on the first floor and electric systems on the second and third floors. Gas lines are connected for the stoves, creating an existing utility connection for a potential future heating conversion. Additional property features include a fenced backyard and RM zoning. The property is located at 64 South Street in Waterbury, Connecticut.
Key Highlights
- 2,880 SF triplex built in 1911
- Three occupied units with month‑to‑month tenants
- Unit mix includes 3 bedrooms on the first and second floors and 2 bedrooms on the third floor
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
$29,231
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
8.86%
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%
$584,620
$584.6K
Cap Rate 7%
$417,586
$417.6K
Cap Rate 9%
$324,789
$324.8K
Market Conditions
NOI Build-Up for 2,880 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
$57.0K $19.80/SF
− Vacancy
−$3.9K −$1.35/SF
EGI
$53.1K $18.45/SF
− OpEx
−$23.9K −$8.30/SF
NOI
$29.2K $10.15/SF
Area
Waterbury, CT
Vacancy
6.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$584,620
Cap Rate 7%
$417,586
Cap Rate 9%
$324,789
Alternative Uses
Best Use
Multifamily LT 5
$463.5K
$405.6K – $540.8K
NOI $32,448 @ 7.0% cap · market cap 9.84%
Second Best
Apartment 5plus
$417.6K
$365.4K – $487.2K
NOI $29,231 @ 7.0% cap · market cap 8.86%
Theoretical Best
Office A
$764.3K
$668.7K – $891.7K
NOI $53,499 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 06706, CT
14,699
Population
5,907
Households
2.5
Avg Household Size
36
Median Age
16%
College-Educated
77%
High-School Grad
3.8 sq mi
ZIP Area
3,868
Density / Sq Mi
$51,770
Median Household Income
$32,375
Median Earnings
$1,233
Median Rent
$171,400
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?
Triplex - Fully occupied triplex with varied unit layouts, updated windows, and separate heating systems across three floors.
Where is this triplex located?
The property is located at 64 South Street Waterbury, CT.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 2,880 SF triplex built in 1911; Three occupied units with month‑to‑month tenants; Unit mix includes 3 bedrooms on the first and second floors and 2 bedrooms on the third floor
