Updated Triplex with Detached
For Sale
$469,900
Pending
81 Wood St, Waterbury, CT 06704
Three residential units occupy a fully fenced double lot with varied heating systems and updated building components.
Property Size3,125 SF
Days on Market11
Property Features for 81 Wood St
General Information
Standard status
Pending
Size
3,125 SF
Total Parking Spaces
7
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
fenced lot
generator hookup
Building Details
Building Size
3,125 SF
Year Built
1877
Listing Agency:
Coldwell Banker Realty
(203) 500-5544
Listed By:
Tania Melo
(203) 500-5544
Source:
Elliman
Added: Aug 12
Changed: Aug 20
Last Checked: Aug 22 at 11:29AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This triplex at 81 Wood St. in Waterbury includes three residential units with distinct layouts. The first floor contains 6 rooms, 3 bedrooms, and 1.5 baths; the second has 6 rooms, 3 bedrooms, and 1 bath; and the third offers 4 rooms, 2 bedrooms, and 1 bath. Improvements include updated bathrooms totaling 3.5 baths, newer second-floor windows, newer siding, back porches, and a generator hookup/outlet. Two Navien gas furnaces serve the first and second floors, while the third floor uses electric baseboard heat.
The property sits on a fully fenced double lot and includes a 7-car detached garage with newer rolled roofing. The roof and gutters are approximately 6 years old. WalkScore is 89, BikeScore is 54, and TransitScore is 58. Access is available to the second and third floors, while the first floor will be empty.
The property sits on a fully fenced double lot and includes a 7-car detached garage with newer rolled roofing. The roof and gutters are approximately 6 years old. WalkScore is 89, BikeScore is 54, and TransitScore is 58. Access is available to the second and third floors, while the first floor will be empty.
Key Highlights
- Three‑unit configuration with 6 rooms and 3 bedrooms on both the first and second floors
- Third‑floor unit includes 4 rooms, 2 bedrooms, and 1 bath
- 7‑car detached garage with newer rolled roofing
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
$35,208
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
7.49%
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%
$704,160
$704.2K
Cap Rate 7%
$502,971
$503.0K
Cap Rate 9%
$391,200
$391.2K
Market Conditions
NOI Build-Up for 3,125 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
$54.4K $17.40/SF
− Vacancy
−$4.1K −$1.31/SF
EGI
$50.3K $16.10/SF
− OpEx
−$15.1K −$4.83/SF
NOI
$35.2K $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%
$704,160
Cap Rate 7%
$502,971
Cap Rate 9%
$391,200
Alternative Uses
Best Use
Multifamily LT 5
$503.0K
$440.1K – $586.8K
NOI $35,208 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$453.1K
$396.5K – $528.6K
NOI $31,717 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$829.3K
$725.6K – $967.5K
NOI $58,050 @ 7.0% cap · market cap 12.35%
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
2,038
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units occupy a fully fenced double lot with varied heating systems and updated building components.
Where is this triplex located?
The property is located at 81 Wood St Waterbury, CT.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Three‑unit configuration with 6 rooms and 3 bedrooms on both the first and second floors; Third‑floor unit includes 4 rooms, 2 bedrooms, and 1 bath; 7‑car detached garage with newer rolled roofing
