Duplex with Updated Mechanical
For Sale
$239,900
Pending
891 Pearl Lake Road, Waterbury, CT 06706
Multi-Family For Sale, Units on different Floors, Waterbury, CT
Property Size1,776 SF
Lot Size0.17 Acres
Days on Market168
Property Features for 891 Pearl Lake Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RL
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 2
Patio and Porch features
Deck
Exterior features
Deck
Basement
Full
Lot features
City Views, Sloping Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Gps friendly
Standard status
Pending
Size
1,776 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
6134
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1950
Architectural style
Other
Listing Agency:
The Washington Agency
(860) 482-7044
Listed By:
Ashley Henry · License #RES.0819783
(860) 776-6515
Added: Mar 5
Changed: Aug 19
Last Checked: Aug 20 at 2:06PM
MLS# 24139973
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 two-family property at 891 Pearl Lake Road includes 1,776 square feet of building area on a 0.17-acre lot. Built in 1950, the home has a newer roof, furnace, central air system, and oil tank. The property also includes a deck, leased solar panels, and propane equipment. Interior work and general TLC are needed, offering a renovation project with existing residential improvements.
The property is served by public water and public sewer and is zoned RL. Its room inventory includes six bedrooms, two bathrooms, and a basement. The home will be conveyed vacant, subject to the occupancy details in the property information.
The property is served by public water and public sewer and is zoned RL. Its room inventory includes six bedrooms, two bathrooms, and a basement. The home will be conveyed vacant, subject to the occupancy details in the property information.
Key Highlights
- Two‑family duplex with 1,776 square feet
- 0.17‑acre lot with deck
- Newer roof, furnace, central air system, and oil tank
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 central air, public utilities, and a deck.
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 duplex with 1,776 square feet; 0.17‑acre lot with deck; Newer roof, furnace, central air system, and oil tank
