Duplex with Attached
For Sale
$499,000
76 Clark Hill Road, Prospect, CT 06712
Level-lot duplex with multiple living areas, central air, and renovation potential in Prospect.
Property Size3,150 SF
Price / SF$158.41
Days on Market161
Property Features for 76 Clark Hill Road
General Information
Standard status
Active
Size
3,150 SF
Total Parking Spaces
2
Property subtype
Multi-Family / 2 Family
Zoning
RA-1
Property Condition
Severity
Repairs Needed
Evidence
ready for updating
Taxes and HOA fees
Annual Taxes
$7,836
Amenities
No
Hot Air
6
Central Air
2
In Ground Pool
Not Applicable
Building Details
Year Built
1951
Listing Agency:
Dave Jones Realty, LLC
(203) 910-2638
Listed By:
Dave Jones · License #REB.0789397
(203) 910-2638
Source:
Compass
Added: Mar 24
Changed: Aug 30
Last Checked: Aug 30 at 7:26PM
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.
This 3,150-square-foot duplex, built in 1951, occupies a level lot at 76 Clark Hill Road in Prospect. The property includes multiple living areas, a flexible interior arrangement, a two-car attached garage, and a generously sized driveway. Warm wood exterior accents and a fireplace or wood stove add distinctive character, while the kitchen and interior finishes are positioned for updating. Central air is also present.
The RA-1 zoning designation and existing layout may support reconfiguration, including the potential for an accessory apartment as described in the property information. An in-ground pool remains on the site but has been abandoned. The combination of substantial interior area, attached parking, and renovation-oriented condition offers a clear framework for a buyer planning improvements.
The RA-1 zoning designation and existing layout may support reconfiguration, including the potential for an accessory apartment as described in the property information. An in-ground pool remains on the site but has been abandoned. The combination of substantial interior area, attached parking, and renovation-oriented condition offers a clear framework for a buyer planning improvements.
Key Highlights
- 3,150‑square‑foot duplex on a level lot
- RA‑1 zoning designation
- 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
$35,489
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
7.11%
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%
$709,780
$709.8K
Cap Rate 7%
$506,986
$507.0K
Cap Rate 9%
$394,322
$394.3K
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
$54.8K $17.40/SF
− Vacancy
−$4.1K −$1.31/SF
EGI
$50.7K $16.10/SF
− OpEx
−$15.2K −$4.83/SF
NOI
$35.5K $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%
$709,780
Cap Rate 7%
$506,986
Cap Rate 9%
$394,322
Alternative Uses
Best Use
Multifamily LT 5
$507.0K
$443.6K – $591.5K
NOI $35,489 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$456.7K
$399.6K – $532.9K
NOI $31,971 @ 7.0% cap · market cap 6.41%
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?
Duplex - Level-lot duplex with multiple living areas, central air, and renovation potential in Prospect.
Where is this duplex 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: 3,150‑square‑foot duplex on a level lot; RA‑1 zoning designation; Two‑car attached garage and generously sized driveway
