Updated 3-Family
For Sale
$499,000
Pending
841 Highland Avenue, Waterbury, CT 06708
Updated 3-family residence with roof and most windows replaced in 2021 and a 2-car garage conveyed as-is.
Property Size19,003 SF
Days on Market54
Property Features for 841 Highland Avenue
General Information
Standard status
Pending
Size
19,003 SF
Property subtype
3 Family
Building Details
Building Size
19,003 SF
Year Built
1900
Listing Agency:
Marr Caruso Realty Group
Listed By:
Omar Arce · License #RES.0794989
(203) 550-1077
Source:
Iverty
Added: Jul 15
Changed: Aug 23
Last Checked: Jul 24 at 2:12PM
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 Marr Caruso Realty Group
Investment Insights
Based on property information with market context.
This updated 3-family home offers a versatile layout with additional land on the side. Roof and most windows were replaced in 2021. The property includes a partially finished basement with a separate entrance, supporting flexible day-to-day access.
A 2-car garage is also included and will be conveyed “As-Is, Where-is.” The home is described as conveniently located near shopping, restaurants, and major roads.
Additional space on the side adds practical flexibility, whether you’re planning for a more productive use of the property or looking for extra outdoor room alongside the existing residential setup.
A 2-car garage is also included and will be conveyed “As-Is, Where-is.” The home is described as conveniently located near shopping, restaurants, and major roads.
Additional space on the side adds practical flexibility, whether you’re planning for a more productive use of the property or looking for extra outdoor room alongside the existing residential setup.
Key Highlights
- Updated 3‑family home built in 1900 with Hot Air heat and window‑unit cooling
- Roof and most windows were replaced in 2021
- 2‑car garage will be conveyed as‑is, where‑is
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
$31,073
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
6.23%
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%
$621,460
$621.5K
Cap Rate 7%
$443,900
$443.9K
Cap Rate 9%
$345,256
$345.3K
Market Conditions
NOI Build-Up for 2,758 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
$48.0K $17.40/SF
− Vacancy
−$3.6K −$1.31/SF
EGI
$44.4K $16.10/SF
− OpEx
−$13.3K −$4.83/SF
NOI
$31.1K $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%
$621,460
Cap Rate 7%
$443,900
Cap Rate 9%
$345,256
Alternative Uses
Best Use
Multifamily LT 5
$443.9K
$388.4K – $517.9K
NOI $31,073 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$399.9K
$349.9K – $466.5K
NOI $27,992 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$731.9K
$640.4K – $853.9K
NOI $51,233 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
440
Businesses Nearby
Explore this area
Business Placement
Demographics for 06708, CT
30,345
Population
13,061
Households
2.3
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
3,228
Density / Sq Mi
$63,705
Median Household Income
$40,515
Median Earnings
$1,275
Median Rent
$196,700
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?
Triplex - Updated 3-family residence with roof and most windows replaced in 2021 and a 2-car garage conveyed as-is.
Where is this triplex located?
The property is located at 841 Highland Avenue Waterbury, 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: Updated 3‑family home built in 1900 with Hot Air heat and window‑unit cooling; Roof and most windows were replaced in 2021; 2‑car garage will be conveyed as‑is, where‑is
