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    240 W Center St Manchester, CT 06040

    Sponsored
    For Sale
    $349,900

    MULTI_FAMILY - Manchester, CT

    Property size:
    2,058 SF
    Lot size:
    0.20 Acres
    Days on Market:
    4
    Last Refresh:
    Feb 26 at 5:06 am

    Property Features for 240 W Center St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RA
    Rooms
    Bedroom 3, Basement, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 4, Bathroom 2, Bathroom 3
    Bedrooms
    4
    Bathrooms
    4
    Parking
    4
    Basement
    Unfinished, Full
    Size
    2,058 SF
    Lot size
    0.20 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1972

    We can help!

    Listing Contact
    Christy Lofstrom

    ERA Blanchard & Rossetto Inc (860) 883-5879

    Listing agent Christy Lofstrom (860) 646-2482

    Listing date Feb 23, 2026

    MLS# 24155496

    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.

    Learn more

    Property Insight Report

    Overview

    Well-Maintained Duplex in Central Manchester

    This well-maintained side-by-side duplex features identical layouts in both units. Each unit includes a living room, eat-in kitchen, and a half bath on the first floor, with two bedrooms and a full bath located on the second floor. Both units have full, unfinished basements with laundry hookups and separate hatchways, along with a dual access utility room between them. Over the last 10 years, several major updates have been completed, including kitchens and windows in 2015, a new roof in 2015, hot water heaters in 2018, and gas boilers in 2019. The property is located on a flat, easily maintainable 0.2-acre lot with separate driveways for each unit. Situated in a convenient central Manchester location, the home is near schools, shopping, and highways. This property, with a total size of 2058 square feet, is suitable for either owner occupancy or as an addition to an investment portfolio. The property is zoned RA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.546707
    Latitude
    41.770261

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    FAQs

    What type of property is this?
    Specialty property - Duplex with updated features in convenient location near amenities.
    Where is this specialty property located?
    The property is located at 240 W Center St Manchester, CT.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: - Well-maintained duplex in a convenient central Manchester location.; - Major renovations completed within the last 10 years: **kitchens (2015), windows (2015), roof (2015), HW heaters (2018), and gas boilers (2019).**; - Identical unit layouts with living room, eat-in kitchen, and 1/2 bath on the first floor, and two bedrooms and a full bath on the 2nd floor.
    (860) 646-2482
    Request Owner's contact information
    240 W Center St Manchester, CT 06040
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    Manchester, CT 06040
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    240 W Center St Manchester, CT 06040
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    We can help!
    Listing Contact
    Christy Lofstrom
    (860) 646-2482 (860) 539-0533
    Learn more
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