Triplex with Detached
For Sale
$395,000
78 Griggs Street, Waterbury, CT 06704
The property includes laundry hookups, replacement windows, and updated electrical service.
Property Size3,456 SF
Price / SF$114.29
Days on Market196
Property Features for 78 Griggs Street
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Multi-Family / 3 Family
Zoning
RM
Units
Unit Mix
1 x 3BR, 2 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,271
Amenities
garage
garage door openers
laundry hookups
No
Baseboard
15
Wall Unit
All Units Have Hook-Ups
Not Applicable
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Vitale Realty
(203) 233-8306
Listed By:
Michael Vitale · License #RES.0703470
(203) 233-8306
Source:
Compass
Added: Feb 16
Changed: Aug 29
Last Checked: Aug 30 at 11:29PM
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 Vitale Realty
Investment Insights
Based on property information with market context.
This 3456 SF triplex includes three residential units, each with laundry hookups. The first-floor apartment contains 5 rooms and 3 bedrooms, with an oil hot water boiler providing heat. The second- and third-floor apartments each offer 5 rooms and 2 bedrooms, with space heaters for heating. Replacement windows and updated electrical service are installed throughout the property.
A detached 2-car garage provides additional utility, with newer doors and openers. The site also includes ample parking, and the property is zoned RM. Built in 1900, the building is offered as-is and is located at 78 Griggs Street in Waterbury, Connecticut.
A detached 2-car garage provides additional utility, with newer doors and openers. The site also includes ample parking, and the property is zoned RM. Built in 1900, the building is offered as-is and is located at 78 Griggs Street in Waterbury, Connecticut.
Key Highlights
- Three‑unit residential property totaling 3456 SF
- First‑floor unit has 5 rooms, 3 beds, and an oil hot water boiler
- Second- and third‑floor units each have 5 rooms and 2 beds
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
$35,077
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
8.88%
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%
$701,540
$701.5K
Cap Rate 7%
$501,100
$501.1K
Cap Rate 9%
$389,744
$389.7K
Market Conditions
NOI Build-Up for 3,456 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
$68.4K $19.80/SF
− Vacancy
−$4.7K −$1.35/SF
EGI
$63.8K $18.45/SF
− OpEx
−$28.7K −$8.30/SF
NOI
$35.1K $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%
$701,540
Cap Rate 7%
$501,100
Cap Rate 9%
$389,744
Alternative Uses
Best Use
Multifamily LT 5
$556.2K
$486.7K – $649.0K
NOI $38,937 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$501.1K
$438.5K – $584.6K
NOI $35,077 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$917.1K
$802.5K – $1.07M
NOI $64,199 @ 7.0% cap · market cap 16.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Explore this area
Business Placement
Demographics for 06704, CT
27,300
Population
12,987
Households
2.1
Avg Household Size
34
Median Age
14%
College-Educated
78%
High-School Grad
8.1 sq mi
ZIP Area
3,370
Density / Sq Mi
$47,848
Median Household Income
$33,090
Median Earnings
$1,202
Median Rent
$178,500
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?
Triplex - The property includes laundry hookups, replacement windows, and updated electrical service.
Where is this triplex located?
The property is located at 78 Griggs Street Waterbury, CT.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Three‑unit residential property totaling 3456 SF; First‑floor unit has 5 rooms, 3 beds, and an oil hot water boiler; Second- and third‑floor units each have 5 rooms and 2 beds
