Two-Unit Townhouse
For Sale
$389,000
Pending
358 Wethersfield Avenue, Hartford, CT 06114
MULTI_FAMILY - Hartford, CT
Property Size2,304 SF
Lot Size0.01 Acres
Days on Market94
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
Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 1, Bathroom 4, Bathroom 1
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
Pending
Size
2,304 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2377
HOA Fee
$585 Monthly
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: Aug 2
Last Checked: Aug 8 at 3:06PM
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 two-unit townhouse duplex offers two distinct layouts under one roof. The walk-down unit includes a large, open living room/kitchen area with one bedroom and one updated bathroom. The upper unit is a two-level town house style layout with three bedrooms and two full bathrooms plus one half bathroom, including an updated master bath. Interior updates include fresh paint and new luxury vinyl flooring, along with modern kitchen improvements such as updated cabinets and stainless steel appliances.
The property includes a porch and deck and is heated with hot water. Public water and public sewer service are in place. Built in 1985, the duplex also features newer roof, windows, and boiler.
Set on a small lot (0.01 acres) with a total size of 2,304 SF, this is a compact, townhouse-style income property with updated finishes and mechanicals.
The property includes a porch and deck and is heated with hot water. Public water and public sewer service are in place. Built in 1985, the duplex also features newer roof, windows, and boiler.
Set on a small lot (0.01 acres) with a total size of 2,304 SF, this is a compact, townhouse-style income property with updated finishes and mechanicals.
Key Highlights
- Two‑unit townhouse duplex with a walk‑down unit and a two‑level upper unit
- Walk‑down unit: large open living room/kitchen with one bedroom and one updated bathroom
- Upper unit: two‑level layout with three bedrooms, two full bathrooms, and one half bathroom
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
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 - Two-unit duplex with modern updates, zoning NX-1, and public water and sewer service.
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 townhouse duplex with a walk‑down unit and a two‑level upper unit; Walk‑down unit: large open living room/kitchen with one bedroom and one updated bathroom; Upper unit: two‑level layout with three bedrooms, two full bathrooms, and one half bathroom
