Multifamily Property with Attached
For Sale
$499,000
Pending
76 Clark Hill Road, Prospect, CT 06712
Multi-Family For Sale, Units on different Floors,Other, Prospect, CT
Property Size3,150 SF
Lot Size2.04 Acres
Days on Market158
Property Features for 76 Clark Hill Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA-1
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Basement, Bedroom 2, Bathroom 3, Bathroom 1
Fireplace
1
Basement
Unfinished, Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
GPS Friendly
Standard status
Pending
Size
3,150 SF
Lot size
2.04 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
8725
Utilities
Cooling system
Central Air
Water source
Private
Amenities
fireplace/wood stove
Building Details
Year built
1951
Architectural style
Other
Listing Agency:
Dave Jones Realty, LLC
(203) 758-0264
Listed By:
Dave Jones · License #REB.0789397
(203) 910-2638
Added: Mar 26
Changed: Aug 27
Last Checked: Aug 30 at 9:06AM
MLS# 24160419
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,150-square-foot multifamily property was built in 1951 and sits on a level 2.04-acre lot. The interior includes multiple living areas, three bathrooms, four bedrooms, and a basement, with a layout that can accommodate reconfiguration and an accessory apartment. Central air, a fireplace or wood stove, and a two-car attached garage are included. The kitchen and interior finishes are positioned for updating, while the wood exterior accents and generous driveway add to the existing character.
The property is located at 76 Clark Hill Road in Prospect, Connecticut, with private water service and RA-1 zoning. An abandoned pool is also present on the site.
The property is located at 76 Clark Hill Road in Prospect, Connecticut, with private water service and RA-1 zoning. An abandoned pool is also present on the site.
Key Highlights
- 3,150‑square‑foot multifamily property on 2.04 acres
- RA‑1 zoning with potential for an accessory apartment
- Four bedrooms, three bathrooms, multiple living areas, and a basement
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - RA-1-zoned property with flexible interior areas, central air, and renovation potential for an accessory apartment.
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: 3,150‑square‑foot multifamily property on 2.04 acres; RA‑1 zoning with potential for an accessory apartment; Four bedrooms, three bathrooms, multiple living areas, and a basement
