Two-Family Home Gut
For Sale
$199,000
Pending
924 Highland, Waterbury, CT 06708
Two-family home in Waterbury’s Town Plot area, fully gutted to the studs and suited for cash or hard-money buyers.
Property Size1,592 SF
Days on Market123
Property Features for 924 Highland
General Information
Standard status
Pending
Size
1,592 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
Surf Realty LLC
(914) 403-6462
Listed By:
Dillon Cass · License #RES.0830369
(914) 278-4363
Source:
Lockandkeyre
Added: Jun 15
Changed: Oct 15
Last Checked: Oct 14 at 11:21PM
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 Surf Realty LLC
Investment Insights
Based on property information with market context.
This two-family home has been fully gutted down to the studs, bringing the property back to a blank-slate condition for a complete renovation. The current condition supports buyers looking to oversee redevelopment from framing-level work onward.
Located in Waterbury’s Town Plot neighborhood, the area reflects a relatively walkable setting based on the provided walkScore of 72, with bikeScore of 37 and transitScore of 39. The offering is presented as an investor-focused opportunity.
The most practical fit for this property is an investor or buyer prepared for a gut-renovation scope and capable of closing with cash or hard money, as noted in the public remarks. If you’re looking for a two-unit residential income property and want to control improvements from the studs out, this could align with your renovation plan and financing structure.
Located in Waterbury’s Town Plot neighborhood, the area reflects a relatively walkable setting based on the provided walkScore of 72, with bikeScore of 37 and transitScore of 39. The offering is presented as an investor-focused opportunity.
The most practical fit for this property is an investor or buyer prepared for a gut-renovation scope and capable of closing with cash or hard money, as noted in the public remarks. If you’re looking for a two-unit residential income property and want to control improvements from the studs out, this could align with your renovation plan and financing structure.
Key Highlights
- Two‑family home in Waterbury’s Town Plot area
- Fully gutted down to the studs
- Year built: 1950
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,936
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,720
$358.7K
Cap Rate 7%
$256,229
$256.2K
Cap Rate 9%
$199,289
$199.3K
Market Conditions
NOI Build-Up for 1,592 SF
Gross rent
$27.7K $17.40/SF
− Vacancy
−$2.1K −$1.31/SF
EGI
$25.6K $16.10/SF
− OpEx
−$7.7K −$4.83/SF
NOI
$17.9K $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 Rate 5%
$358,720
Cap Rate 7%
$256,229
Cap Rate 9%
$199,289
Alternative Uses
Best Use
Multifamily LT 5
$256.2K
$224.2K – $298.9K
NOI $17,936 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$230.8K
$202.0K – $269.3K
NOI $16,158 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$422.5K
$369.7K – $492.9K
NOI $29,573 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
400
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family home in Waterbury’s Town Plot area, fully gutted to the studs and suited for cash or hard-money buyers.
Where is this duplex located?
The property is located at 924 Highland Waterbury, CT.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑family home in Waterbury’s Town Plot area; Fully gutted down to the studs; Year built: 1950
