Two-Family Home with Updated
For Sale
$239,900
Pending
891 Pearl Lake Road, Waterbury, CT 06706
Two-family property with newer roof, furnace, central air, and leased solar panels, conveyed with vacancy for an owner or investor.
Property Size1,776 SF
Days on Market184
Property Features for 891 Pearl Lake Road
General Information
Standard status
Pending
Size
1,776 SF
Property subtype
Multi-Family / 2 Family
Zoning
RL
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,366
Amenities
Yes
Hot Water
10
Central Air
Crawl Space, Access Via Hatch
All Units Have Hook-Ups, Basement Hook-Up(s)
Above Ground Pool
Deck
Not Applicable
Building Details
Year Built
1950
Listing Agency:
The Washington Agency
Listed By:
Ashley Henry · License #RES.0819783
(860) 482-7044
Source:
Compass
Added: Mar 5
Changed: Aug 8
Last Checked: Jul 24 at 1:30PM
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 The Washington Agency
Investment Insights
Based on property information with market context.
This two-family home is being offered with updated core systems while still presenting a need for some TLC. The property is slightly distressed, and includes a newer roof along with a newer furnace, central air system, and oil tank. It also has leased solar panels and propane equipment that are included with the sale.
The home is currently owner-occupied and will be conveyed with vacancy, providing flexibility for incoming owners. Located at 891 Pearl Lake Road in Waterbury, it offers a straightforward duplex configuration suited to buyers looking for a residential income property with the included mechanical and energy-related components.
Overall, the combination of updated building systems and included leased solar and propane equipment creates a practical starting point for an owner-occupant or investor planning renovations and rent-ready improvements.
The home is currently owner-occupied and will be conveyed with vacancy, providing flexibility for incoming owners. Located at 891 Pearl Lake Road in Waterbury, it offers a straightforward duplex configuration suited to buyers looking for a residential income property with the included mechanical and energy-related components.
Overall, the combination of updated building systems and included leased solar and propane equipment creates a practical starting point for an owner-occupant or investor planning renovations and rent-ready improvements.
Key Highlights
- Two‑family home built in 1950 with 10 total rooms
- Newer roof and newer furnace, plus central air and hot water heat
- Oil tank noted; oil tank‑offering a solid foundation for updates
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
$20,009
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
8.34%
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%
$400,180
$400.2K
Cap Rate 7%
$285,843
$285.8K
Cap Rate 9%
$222,322
$222.3K
Market Conditions
NOI Build-Up for 1,776 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
$30.9K $17.40/SF
− Vacancy
−$2.3K −$1.31/SF
EGI
$28.6K $16.10/SF
− OpEx
−$8.6K −$4.83/SF
NOI
$20.0K $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%
$400,180
Cap Rate 7%
$285,843
Cap Rate 9%
$222,322
Alternative Uses
Best Use
Multifamily LT 5
$285.8K
$250.1K – $333.5K
NOI $20,009 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$257.5K
$225.3K – $300.4K
NOI $18,025 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$471.3K
$412.4K – $549.9K
NOI $32,991 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Explore this area
Business Placement
Demographics for 06706, CT
14,699
Population
5,907
Households
2.5
Avg Household Size
36
Median Age
16%
College-Educated
77%
High-School Grad
3.8 sq mi
ZIP Area
3,868
Density / Sq Mi
$51,770
Median Household Income
$32,375
Median Earnings
$1,233
Median Rent
$171,400
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 - Two-family property with newer roof, furnace, central air, and leased solar panels, conveyed with vacancy for an owner or investor.
Where is this duplex located?
The property is located at 891 Pearl Lake Road Waterbury, CT.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑family home built in 1950 with 10 total rooms; Newer roof and newer furnace, plus central air and hot water heat; Oil tank noted; oil tank‑offering a solid foundation for updates
