Two-Unit Duplex with Covered
New
For Sale
$749,000
65 Roosevelt Avenue, Stamford, CT 06902
Multi-Family For Sale, Units on different Floors, Stamford, CT
Property Size1,972 SF
Lot Size0.13 Acres
Price / SF$379.82
Days on Market3
Property Features for 65 Roosevelt Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 3
Patio and Porch features
Deck
Exterior features
Shed,Garden Area,Covered Deck
Basement
Sump Pump, Unfinished, Full
Lot features
Level Lot
Elementary school
Roxbury
High school
Westhill
Directions
West Main Street to Roosevelt Avenue
Subdivision
West Side
Standard status
Active
Size
1,972 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
10234
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Baseboard, Zoned
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1952
Architectural style
Other
Listing Agency:
William Pitt Sotheby's Int'l · Sotheby's International Realty
(203) 968-1500
Listed By:
Barbara Hickey · License #RES.0764883
(203) 912-0578
Added: Sep 8
Last Checked: Sep 10 at 4:06AM
MLS# 24205120
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 1,972-square-foot duplex, built in 1952, contains two two-bedroom, one-bath units arranged on separate floors. Both residences feature front and rear entrances, spacious eat-in kitchens, and large living rooms. Each kitchen opens to a covered deck with steps leading to the rear yard. The first-floor unit includes a gas stove line, while the second-floor unit has been occupied by the same tenant for 30+ years.
The property sits on a 0.13-acre lot with a long driveway, rear carport, and additional off-street parking. A full basement with hatchway access provides storage and utility space. Heating is provided by oil-fired baseboard and radiators through one boiler with two zones; the property also has two electrical meters, public water, public sewer, and window-unit cooling.
The property sits on a 0.13-acre lot with a long driveway, rear carport, and additional off-street parking. A full basement with hatchway access provides storage and utility space. Heating is provided by oil-fired baseboard and radiators through one boiler with two zones; the property also has two electrical meters, public water, public sewer, and window-unit cooling.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bath per unit
- 1,972 SF building on a 0.13‑acre lot
- Covered decks connect both kitchens to the rear yard
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
$37,946
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
5.07%
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%
$758,920
$758.9K
Cap Rate 7%
$542,086
$542.1K
Cap Rate 9%
$421,622
$421.6K
Market Conditions
NOI Build-Up for 1,972 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
$58.0K $29.40/SF
− Vacancy
−$3.8K −$1.91/SF
EGI
$54.2K $27.49/SF
− OpEx
−$16.3K −$8.25/SF
NOI
$37.9K $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%
$758,920
Cap Rate 7%
$542,086
Cap Rate 9%
$421,622
Alternative Uses
Best Use
Multifamily LT 5
$542.1K
$474.3K – $632.4K
NOI $37,946 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$484.8K
$424.2K – $565.7K
NOI $33,939 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$713.0K
$623.9K – $831.9K
NOI $49,912 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,041
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 separate entrances, off-street parking, and a level rear yard.
Where is this duplex located?
The property is located at 65 Roosevelt Avenue Stamford, CT.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bath per unit; 1,972 SF building on a 0.13‑acre lot; Covered decks connect both kitchens to the rear yard
