Six-Bedroom Duplex With Expansion
For Sale
$999,000
604 Fairfield Avenue, Stamford, CT 06902
Multi-Family For Sale, Units on different Floors, Stamford, CT
Property Size2,378 SF
Lot Size0.15 Acres
Price / SF$420.10
Days on Market15
Property Features for 604 Fairfield Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 5, Bedroom 4, Basement, Bathroom 1
Basement
Full
Lot features
City Views
Elementary school
Roxbury
High school
Westhill
Directions
Fairfield Ave ( Congress St; Burwood Ave; 604 Fairfield Ave; Top Gallant Rd)
Subdivision
Waterside
Standard status
Active
Size
2,378 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10924
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
BHGRE Shore & Country
(203) 504-5005
Listed By:
Mei Ling Cheung · License #RES.0800750
(914) 752-8788
Added: Aug 22
Changed: Aug 30
Last Checked: Sep 5 at 9:06AM
MLS# 24192292
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 1920-built duplex contains approximately 2,378 square feet of recorded living area. Each unit is arranged with three bedrooms, a living room, and a dining room. Existing basement and attic areas add renovation potential, with a building permit and seller-prepared plans supporting additional work.
The permitted basement scope covers an approximately 1,181-square-foot footprint, including one bedroom, one full bathroom, and a wet bar connected to the first-floor unit. Plans also provide for linking the attic to the second floor for storage. The property has hot-water heating, window-unit cooling, public water, and public sewer, and is situated in Stamford near shopping, restaurants, transportation, downtown, and major commuting routes.
The permitted basement scope covers an approximately 1,181-square-foot footprint, including one bedroom, one full bathroom, and a wet bar connected to the first-floor unit. Plans also provide for linking the attic to the second floor for storage. The property has hot-water heating, window-unit cooling, public water, and public sewer, and is situated in Stamford near shopping, restaurants, transportation, downtown, and major commuting routes.
Key Highlights
- Two‑family duplex with approximately 2,378 SF of recorded living area
- Each unit currently includes 3 bedrooms, a living room, and a dining room
- Approximately 1,181 SF basement footprint included in permitted renovation scope
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
$45,758
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
4.58%
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%
$915,160
$915.2K
Cap Rate 7%
$653,686
$653.7K
Cap Rate 9%
$508,422
$508.4K
Market Conditions
NOI Build-Up for 2,378 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
$69.9K $29.40/SF
− Vacancy
−$4.5K −$1.91/SF
EGI
$65.4K $27.49/SF
− OpEx
−$19.6K −$8.25/SF
NOI
$45.8K $19.24/SF
Area
Stamford, CT
Vacancy
6.50%
Lease Rate
$29.40 /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%
$915,160
Cap Rate 7%
$653,686
Cap Rate 9%
$508,422
Alternative Uses
Best Use
Multifamily LT 5
$653.7K
$572.0K – $762.6K
NOI $45,758 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$584.7K
$511.6K – $682.1K
NOI $40,926 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$859.8K
$752.4K – $1.00M
NOI $60,188 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 06902, CT
69,192
Population
30,142
Households
2.3
Avg Household Size
36
Median Age
44%
College-Educated
85%
High-School Grad
10.0 sq mi
ZIP Area
6,919
Density / Sq Mi
$92,527
Median Household Income
$48,285
Median Earnings
$2,139
Median Rent
$515,000
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 - R6-zoned duplex with permitted renovation plans for basement and attic improvements.
Where is this duplex located?
The property is located at 604 Fairfield Avenue Stamford, CT.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two‑family duplex with approximately 2,378 SF of recorded living area; Each unit currently includes 3 bedrooms, a living room, and a dining room; Approximately 1,181 SF basement footprint included in permitted renovation scope
