Multifamily Property with Attached
For Sale
$499,000
76 Clark Hill Road, Prospect, CT 06712
Level-lot property with multiple living areas and interiors suited to renovation or reconfiguration.
Property Size3,150 SF
Days on Market142
Property Features for 76 Clark Hill Road
General Information
Standard status
Active
Size
3,150 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
RA-1
Taxes and HOA fees
Annual Taxes
$7,836
Amenities
fireplace/wood stove
Building Details
Building Size
3,150 SF
Year Built
1951
Units
2
Listing Agency:
Dave Jones Realty, LLC
(203) 910-2638
Listed By:
Dave Jones · License #REB.0789397
(203) 910-2638
Source:
Westshorerealty
Added: Mar 24
Changed: Aug 10
Last Checked: Aug 11 at 2:56PM
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.
Built in 1951, this multifamily property occupies a level lot and offers a flexible interior arrangement with multiple living areas. The home includes a two-car attached garage, a generously sized driveway, warm wood exterior accents, and a fireplace or wood stove in the main living area. The layout may accommodate reconfiguration for an accessory apartment, subject to applicable requirements.
Kitchen and interior areas require updating, providing a substantial renovation component for an investor, contractor, or owner seeking to customize the property. The parcel is zoned RA-1 and includes an abandoned pool. Located at 76 Clark Hill Road in Prospect, Connecticut, the property combines established improvements with a floor plan that can be adapted to a new design.
Kitchen and interior areas require updating, providing a substantial renovation component for an investor, contractor, or owner seeking to customize the property. The parcel is zoned RA-1 and includes an abandoned pool. Located at 76 Clark Hill Road in Prospect, Connecticut, the property combines established improvements with a floor plan that can be adapted to a new design.
Key Highlights
- Multifamily property at 76 Clark Hill Road, Prospect, CT 06712
- Built in 1951 on a level lot
- Two‑car attached garage and generously sized driveway
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
$31,971
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
6.41%
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%
$639,420
$639.4K
Cap Rate 7%
$456,729
$456.7K
Cap Rate 9%
$355,233
$355.2K
Market Conditions
NOI Build-Up for 3,150 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
$62.4K $19.80/SF
− Vacancy
−$4.2K −$1.35/SF
EGI
$58.1K $18.45/SF
− OpEx
−$26.2K −$8.30/SF
NOI
$32.0K $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%
$639,420
Cap Rate 7%
$456,729
Cap Rate 9%
$355,233
Alternative Uses
Best Use
Apartment 5plus
$456.7K
$399.6K – $532.9K
NOI $31,971 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$835.9K
$731.4K – $975.2K
NOI $58,514 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Explore this area
Business Placement
Demographics for 06712, CT
9,344
Population
3,546
Households
2.6
Avg Household Size
47
Median Age
37%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
658
Density / Sq Mi
$125,556
Median Household Income
$70,658
Median Earnings
$1,888
Median Rent
$350,700
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?
Multifamily property - Level-lot property with multiple living areas and interiors suited to renovation or reconfiguration.
Where is this multifamily property located?
The property is located at 76 Clark Hill Road Prospect, CT.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Multifamily property at 76 Clark Hill Road, Prospect, CT 06712; Built in 1951 on a level lot; Two‑car attached garage and generously sized driveway
