Rebuilt Multi-Family
For Sale
$499,999
102 Capen St, Hartford, CT 06120
Move-in-ready rebuilt layout with 3 bedrooms downstairs and 5 bedrooms total above, plus updated kitchen and porch.
Property Size3,001 SF
Days on Market60
Property Features for 102 Capen St
General Information
Standard status
Active
Size
3,001 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Building Details
Building Size
3,001 SF
Year Built
1928
Listing Agency:
Torbello Real Estate Advisors
(860) 985-3788
Listed By:
Ilka D. Torres
(860) 985-3788
Source:
Elliman
Added: Jun 21
Changed: Aug 19
Last Checked: Aug 19 at 8:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Torbello Real Estate Advisors
Investment Insights
Based on property information with market context.
This beautifully rebuilt, move-in-ready multi-family residence features a modern, open-concept layout with neutral finishes throughout. The first floor offers 3 bedrooms and 1 bathroom, while the upper floors provide a total of 5 bedrooms and 2 bathrooms. Natural light fills the home through oversized windows, complemented by luxury vinyl plank flooring. The spacious kitchen includes white shaker cabinetry, quartz countertops, stainless steel appliances, a large center island, and ample storage. A covered front porch adds a welcoming entry and curb appeal.
The property is conveniently located near shopping, dining, and local amenities, with walk and transit scores indicating some day-to-day accessibility. Bikeability is rated at 63, with walkScore at 53 and transitScore at 46.
With a multi-level bedroom and bathroom configuration, this home can be attractive for owner-occupants seeking additional space upstairs or for buyers looking for a residential income setup. The recent rebuild and contemporary updates—combined with bright interiors and a functional kitchen—support a turn-key living or leasing experience.
The property is conveniently located near shopping, dining, and local amenities, with walk and transit scores indicating some day-to-day accessibility. Bikeability is rated at 63, with walkScore at 53 and transitScore at 46.
With a multi-level bedroom and bathroom configuration, this home can be attractive for owner-occupants seeking additional space upstairs or for buyers looking for a residential income setup. The recent rebuild and contemporary updates—combined with bright interiors and a functional kitchen—support a turn-key living or leasing experience.
Key Highlights
- Year built 1928 multi‑family home with a rebuilt, move‑in‑ready layout
- First floor features 3 bedrooms and 1 bath, with the upper floors totaling 5 bedrooms and 2 baths
- Updated kitchen with white shaker cabinetry, quartz countertops, stainless steel appliances, and a large center island
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
$44,066
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
8.81%
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%
$881,320
$881.3K
Cap Rate 7%
$629,514
$629.5K
Cap Rate 9%
$489,622
$489.6K
Market Conditions
NOI Build-Up for 3,001 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
$66.6K $22.20/SF
− Vacancy
−$3.7K −$1.22/SF
EGI
$63.0K $20.98/SF
− OpEx
−$18.9K −$6.29/SF
NOI
$44.1K $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%
$881,320
Cap Rate 7%
$629,514
Cap Rate 9%
$489,622
Alternative Uses
Best Use
Multifamily LT 5
$629.5K
$550.8K – $734.4K
NOI $44,066 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$578.4K
$506.1K – $674.8K
NOI $40,487 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$894.5K
$782.7K – $1.04M
NOI $62,616 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
Explore this area
Business Placement
Demographics for 06120, CT
12,636
Population
5,713
Households
2.2
Avg Household Size
32
Median Age
9%
College-Educated
73%
High-School Grad
3.5 sq mi
ZIP Area
3,610
Density / Sq Mi
$33,521
Median Household Income
$35,570
Median Earnings
$1,183
Median Rent
$183,000
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 - Move-in-ready rebuilt layout with 3 bedrooms downstairs and 5 bedrooms total above, plus updated kitchen and porch.
Where is this duplex located?
The property is located at 102 Capen St Hartford, CT.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Year built 1928 multi‑family home with a rebuilt, move‑in‑ready layout; First floor features 3 bedrooms and 1 bath, with the upper floors totaling 5 bedrooms and 2 baths; Updated kitchen with white shaker cabinetry, quartz countertops, stainless steel appliances, and a large center island
