Renovated Two-Unit
For Sale
$389,000
358 Wethersfield Avenue, Hartford, CT 06114
Multi-Family For Sale, Units on different Floors, Hartford, CT
Property Size2,304 SF
Lot Size0.01 Acres
Price / SF$168.84
Days on Market141
Property Features for 358 Wethersfield Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NX-1
Bedrooms
4
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 2
Parking
2
Patio and Porch features
Porch
Exterior features
Porch,Deck
Lot features
Level Lot
Elementary school
Burr
High school
Bulkeley
Directions
GPS friendly
Subdivision
South Meadows
Standard status
Active
Size
2,304 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2377
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1985
Architectural style
Other
Listing Agency:
MLS Direct
(860) 729-0576
Listed By:
Nankumar Nemdharie · License #RES.0813254
(860) 478-0934
Added: May 7
Changed: Sep 13
Last Checked: Sep 24 at 11:06AM
MLS# 24173329
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 Hartford duplex contains two residences within 2,304 square feet. The lower unit has an open living and kitchen area, one bedroom, and a full bathroom, with updated cabinetry, stainless steel appliances, fresh paint, and luxury vinyl plank flooring. The upper residence occupies two levels and includes three bedrooms, 2.5 bathrooms, and a primary suite with a private updated bath. Its renovated kitchen features white shaker cabinets, quartz counters, tile backsplash, and stainless steel appliances. Updated lighting and flooring continue throughout the property.
Major property improvements include a newer roof, windows, and boiler. Exterior features include a porch and deck, while public water and public sewer serve the property. Built in 1985 and zoned NX-1, the duplex is located on Wethersfield Avenue near schools, shopping, public transportation, and major routes.
Major property improvements include a newer roof, windows, and boiler. Exterior features include a porch and deck, while public water and public sewer serve the property. Built in 1985 and zoned NX-1, the duplex is located on Wethersfield Avenue near schools, shopping, public transportation, and major routes.
Key Highlights
- Two‑unit duplex totaling 2,304 square feet
- Lower residence includes one bedroom, open living/kitchen area, and full bathroom
- Upper residence spans two levels with three bedrooms and 2.5 bathrooms
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
$33,831
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
8.70%
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%
$676,620
$676.6K
Cap Rate 7%
$483,300
$483.3K
Cap Rate 9%
$375,900
$375.9K
Market Conditions
NOI Build-Up for 2,304 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
$51.1K $22.20/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$48.3K $20.98/SF
− OpEx
−$14.5K −$6.29/SF
NOI
$33.8K $14.68/SF
Area
Hartford, CT
Vacancy
5.51%
Lease Rate
$22.20 /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%
$676,620
Cap Rate 7%
$483,300
Cap Rate 9%
$375,900
Alternative Uses
Best Use
Multifamily LT 5
$483.3K
$422.9K – $563.9K
NOI $33,831 @ 7.0% cap · market cap 8.70%
Second Best
Apartment 5plus
$444.1K
$388.6K – $518.1K
NOI $31,084 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$686.8K
$600.9K – $801.2K
NOI $48,073 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,711
Businesses Nearby
Explore this area
Business Placement
Demographics for 06114, CT
26,257
Population
11,206
Households
2.3
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
4.0 sq mi
ZIP Area
6,564
Density / Sq Mi
$47,905
Median Household Income
$31,996
Median Earnings
$1,296
Median Rent
$228,300
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 - Updated interiors and two distinct residences support flexible owner-occupancy, extended-family, or rental arrangements.
Where is this duplex located?
The property is located at 358 Wethersfield Avenue Hartford, CT.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,304 square feet; Lower residence includes one bedroom, open living/kitchen area, and full bathroom; Upper residence spans two levels with three bedrooms and 2.5 bathrooms
