Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    654 Highland Ave 2 Waterbury, CT 6708

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,400 /Mo

    Two-bedroom apartment in Waterbury's Town Plot, featuring updated interiors.

    Type:Multi Family
    Added:
    Mar 28, 2026
    Days on Market:
    19
    Last Refresh:
    Mar 28 at 4:15 am

    Property Features for 654 Highland Ave 2

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1914

    We can help!

    Listing Contact
    Sonya R. Nevins

    Listing agent Sonya R. Nevins License #REB.0788953

    Listing office Star Realty LLC

    Listing date Mar 28, 2026

    Source Elliman

    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 Star Realty LLC

    Overview

    Spacious Two Bedroom Apartment

    This two-bedroom apartment is available for rent in the Town Plot section of Waterbury. The unit features tile and hardwood flooring, an updated bathroom, and fresh paint. It is located on the second floor of a three-family home. The location has a walk score of 72, indicating it is very walkable, and a bike score of 37, indicating it is somewhat bikeable. The transit score is 39, indicating some transit options are available.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office 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
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0538239
    Latitude
    41.5399412

    Nearby Similar for Lease

    • Contact for pricing

      Waterbury Light Industrial Flex Space

      Functional flex space with office and storage in Waterbury.
      396 Chase River Road, Waterbury, CT 06704
      View Details
    • Contact for pricing

      Spacious Retail Space Available

      5,500 SF retail space in high-traffic Waterbury location.
      1014 Meriden Road, Waterbury, CT 06705
      View Details
    • Contact for pricing

      Downtown Office Space Available

      Bright, open office space in high-traffic downtown location.
      207 Bank Street, Waterbury, CT 06702
      View Details
    • Contact for pricing

      Renovated Retail/Office/Mixed-Use Space

      5000 sq ft renovated space in high-traffic Waterbury location.
      496 Chase Ave, Waterbury, CT 06704
      View Details
    • Contact for pricing

      Renovated Mixed-Use Property For Lease

      5000 sq ft renovated retail/office space in prime location.
      496 Chase Avenue, Waterbury, CT 06704
      View Details
    • Contact for pricing

      Functional Light Industrial Space Available

      Versatile industrial space with office and storage areas for lease.
      396 Chase River Road, Waterbury, CT 06704
      View Details
    • Contact for pricing

      Renovated Apartment with Modern Amenities

      Renovated 3-bedroom apartment with modern kitchen and convenient location.
      16 Arch St 1, Waterbury, CT 06710
      View Details
    • Contact for pricing

      Waterbury Commercial Space For Rent

      Commercial space in high-visibility location with strong foot traffic.
      1017 West Main Street #1L, Waterbury, CT 06708
      View Details
    • Contact for pricing

      Freestanding Medical/Professional Office Building

      Freestanding medical/professional office building with parking and signage.
      447 Meriden Rd, Waterbury, CT
      View Details
    • Contact for pricing

      Turnkey Luncheonette Opportunity

      Equipped 1,200 sq ft commercial unit for lease.
      1622 Thomaston Avenue, Waterbury, CT 06704
      View Details
    • Contact for pricing

      Downtown Waterbury Commercial Space Available

      First floor commercial space in downtown Waterbury available for rent.
      105 Bank Street #1A, Waterbury, CT 06702
      View Details
    • Contact for pricing

      Spacious Apartment in Town Plot

      Two-bedroom apartment with sunroom in convenient Waterbury location.
      405 Wilson St 3, Waterbury, CT 06708
      View Details

    FAQs

    What type of property is this?
    Triplex - Two-bedroom apartment in Waterbury's Town Plot, featuring updated interiors.
    Where is this triplex located?
    The property is located at 654 Highland Ave 2 Waterbury, CT.
    What is the lease rate?
    The lease rate is $1,400 /Mo.
    What are key features of this property?
    This property features: Very Walkable Location with a Walk Score of 72; Spacious 2‑Bedroom Apartment; Updated Bathroom
    (203) 998-0407
    We can help!
    Listing Contact
    Sonya R. Nevins
    Real Estate License ID: REB.0788953
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!