Two-Unit Duplex with Newer
For Sale
$249,000
70 East Dover Street, Waterbury, CT 06706
Two residential units include flexible first-floor space and a two-bedroom upper apartment.
Property Size1,657 SF
Price / SF$150.27
Days on Market126
Property Features for 70 East Dover Street
General Information
Standard status
Active
Size
1,657 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Regency Real Estate, LLC
(203) 816-1160
Listed By:
Adriana Castagnet · License #RES.0817896
(203) 816-1160
Source:
Lockandkeyre
Added: Apr 27
Changed: Aug 30
Last Checked: Aug 30 at 8:43AM
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 Regency Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 1900, this duplex contains two separate residential units. The first-floor apartment has one bedroom, with room to consider a two-bedroom configuration. Upstairs, the second unit provides two bedrooms and a notably large living room. Windows bring natural light into both levels.
The home is heated by electricity, while gas service is available at the street for a future conversion if desired. The roof is two years old. The property is being offered in as-is condition and may suit an owner-occupant or investor seeking a two-unit residential building. Located at 70 East Dover Street in Waterbury, Connecticut, the property offers an established residential setting.
The home is heated by electricity, while gas service is available at the street for a future conversion if desired. The roof is two years old. The property is being offered in as-is condition and may suit an owner-occupant or investor seeking a two-unit residential building. Located at 70 East Dover Street in Waterbury, Connecticut, the property offers an established residential setting.
Key Highlights
- Two‑unit duplex with separate first- and second‑floor apartments
- First‑floor unit has 1 bedroom with potential for a 2‑bedroom layout
- Second‑floor apartment includes 2 bedrooms and a large living area
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
$18,669
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
7.50%
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%
$373,380
$373.4K
Cap Rate 7%
$266,700
$266.7K
Cap Rate 9%
$207,433
$207.4K
Market Conditions
NOI Build-Up for 1,657 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
$28.8K $17.40/SF
− Vacancy
−$2.2K −$1.31/SF
EGI
$26.7K $16.10/SF
− OpEx
−$8.0K −$4.83/SF
NOI
$18.7K $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%
$373,380
Cap Rate 7%
$266,700
Cap Rate 9%
$207,433
Alternative Uses
Best Use
Multifamily LT 5
$266.7K
$233.4K – $311.2K
NOI $18,669 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$240.3K
$210.2K – $280.3K
NOI $16,818 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$439.7K
$384.8K – $513.0K
NOI $30,780 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,261
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?
Duplex - Two residential units include flexible first-floor space and a two-bedroom upper apartment.
Where is this duplex located?
The property is located at 70 East Dover Street Waterbury, CT.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two‑unit duplex with separate first- and second‑floor apartments; First‑floor unit has 1 bedroom with potential for a 2‑bedroom layout; Second‑floor apartment includes 2 bedrooms and a large living area
