Renovated Triplex with Separate
New
For Sale
$450,000
99 Lounsbury Ave, Waterbury, CT 06706
Updated kitchens and baths complement tenant-paid gas, electric, and hot-water utilities.
Property Size2,967 SF
Days on Market5
Property Features for 99 Lounsbury Ave
General Information
Standard status
Active
Size
2,967 SF
Property subtype
Multi Family
Building Details
Building Size
2,967 SF
Year Built
1914
Listing Agency:
OXFORD REALTY
(203) 314-4219
Listed By:
Amanda R. Faroni-Sheehan · License #REB.0793328CT
(203) 314-4219
Source:
Elliman
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 21 at 11:47AM
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 OXFORD REALTY
Investment Insights
Based on property information with market context.
This three-unit triplex, built in 1914, contains three 3-bedroom, 1-bath residences. Each unit has renovated kitchens and bathrooms, refreshed flooring, neutral finishes, and clean interiors. Vinyl siding provides a low-maintenance exterior, while on-street parking serves the property.
The building is fully occupied, with separate tenant-paid gas heat, hot water, and electric utilities. The property is located on Lounsbury Ave in Waterbury’s South End, near shopping, public transportation, major roadways, and everyday amenities.
Its three matching floor plans and independently metered utilities create a straightforward multifamily configuration for an investor or an owner-occupant seeking rental income from the remaining units.
The building is fully occupied, with separate tenant-paid gas heat, hot water, and electric utilities. The property is located on Lounsbury Ave in Waterbury’s South End, near shopping, public transportation, major roadways, and everyday amenities.
Its three matching floor plans and independently metered utilities create a straightforward multifamily configuration for an investor or an owner-occupant seeking rental income from the remaining units.
Key Highlights
- Three 3‑bedroom, 1‑bath units in a triplex configuration
- All units renovated with updated kitchens, baths, flooring, and neutral finishes
- 100% occupied at the property
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
$33,428
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
7.43%
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%
$668,560
$668.6K
Cap Rate 7%
$477,543
$477.5K
Cap Rate 9%
$371,422
$371.4K
Market Conditions
NOI Build-Up for 2,967 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
$51.6K $17.40/SF
− Vacancy
−$3.9K −$1.31/SF
EGI
$47.8K $16.10/SF
− OpEx
−$14.3K −$4.83/SF
NOI
$33.4K $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%
$668,560
Cap Rate 7%
$477,543
Cap Rate 9%
$371,422
Alternative Uses
Best Use
Multifamily LT 5
$477.5K
$417.9K – $557.1K
NOI $33,428 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$430.2K
$376.4K – $501.9K
NOI $30,114 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$787.4K
$688.9K – $918.6K
NOI $55,115 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
606
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?
Triplex - Updated kitchens and baths complement tenant-paid gas, electric, and hot-water utilities.
Where is this triplex located?
The property is located at 99 Lounsbury Ave Waterbury, CT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three 3‑bedroom, 1‑bath units in a triplex configuration; All units renovated with updated kitchens, baths, flooring, and neutral finishes; 100% occupied at the property
