Two-Family Residential Income
For Sale
$379,999
Pending
917 Cooke Street, Waterbury, CT 06704
Well-maintained two-family home with two 2-bedroom units, off-street parking, and a detached two-car garage.
Property Size2,340 SF
Days on Market63
Property Features for 917 Cooke Street
General Information
Standard status
Pending
Size
2,340 SF
Property subtype
2 Family
Building Details
Year Built
1929
Listing Agency:
Dave Jones Realty, LLC
(203) 437-1085
Listed By:
Gregory Milo
(203) 437-1085
Source:
Lockandkeyre
Added: Jun 24
Changed: Aug 8
Last Checked: Aug 6 at 3:41AM
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 Dave Jones Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained two-family home offers two separate units, with each featuring 2 bedrooms and 1 full bathroom. The layout provides functional living space with spacious rooms and abundant natural light. The property has been exceptionally maintained over the years and is in solid condition throughout, totaling approximately 2,340 square feet of living area. Additional improvements include a detached 2-car garage and off-street parking.
Located in Waterbury’s Fulton Park neighborhood, the home is positioned for everyday convenience, with proximity to schools, shopping, restaurants, parks, and major highways. This mix of nearby amenities and transportation access can support a wide range of residential needs for both tenants and owner-occupants.
The property can work well for buyers seeking an owner-occupant setup with rental income, as well as investors looking for a straightforward two-unit configuration. With consistent unit features across both floors and parking included, it offers an easy-to-manage option for those interested in a durable, long-held asset ready for new ownership.
Located in Waterbury’s Fulton Park neighborhood, the home is positioned for everyday convenience, with proximity to schools, shopping, restaurants, parks, and major highways. This mix of nearby amenities and transportation access can support a wide range of residential needs for both tenants and owner-occupants.
The property can work well for buyers seeking an owner-occupant setup with rental income, as well as investors looking for a straightforward two-unit configuration. With consistent unit features across both floors and parking included, it offers an easy-to-manage option for those interested in a durable, long-held asset ready for new ownership.
Key Highlights
- Well‑maintained two‑family home built in 1929 in Waterbury’s Fulton Park neighborhood
- Two 2‑bedroom units, each with 1 full bathroom and a functional layout with spacious rooms
- Approximately 2,340 SF total living space with abundant natural light
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
$26,364
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
6.94%
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%
$527,280
$527.3K
Cap Rate 7%
$376,629
$376.6K
Cap Rate 9%
$292,933
$292.9K
Market Conditions
NOI Build-Up for 2,340 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
$40.7K $17.40/SF
− Vacancy
−$3.1K −$1.31/SF
EGI
$37.7K $16.10/SF
− OpEx
−$11.3K −$4.83/SF
NOI
$26.4K $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%
$527,280
Cap Rate 7%
$376,629
Cap Rate 9%
$292,933
Alternative Uses
Best Use
Multifamily LT 5
$376.6K
$329.6K – $439.4K
NOI $26,364 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$339.3K
$296.9K – $395.8K
NOI $23,750 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$621.0K
$543.4K – $724.5K
NOI $43,468 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
537
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?
Duplex - Well-maintained two-family home with two 2-bedroom units, off-street parking, and a detached two-car garage.
Where is this duplex located?
The property is located at 917 Cooke Street Waterbury, CT.
What is the asking price?
The asking price for this property is $379,999.
What are key features of this property?
This property features: Well‑maintained two‑family home built in 1929 in Waterbury’s Fulton Park neighborhood; Two 2‑bedroom units, each with 1 full bathroom and a functional layout with spacious rooms; Approximately 2,340 SF total living space with abundant natural light
