Well-Maintained Two-Family
For Sale
$440,000
Pending
11-13 Pershing Street, Hartford, CT 06112
Two spacious units, separate entrances, ideal for owner-occupants or investors.
Property Size2,993 SF
Days on Market163
Property Features for 11-13 Pershing Street
General Information
Standard status
Pending
Size
2,993 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
N2-2
Taxes and HOA fees
Annual Taxes
$5,653
Amenities
Window Unit(s)
Electric, Natural Gas, Oil, Steam
Full, Unfinished, Concrete
Gas Water Heater
Asphalt, Paved, Off Street, Private, Driveway
Balcony, Garden
Units on different Floors
Building Details
Building Size
2,993 SF
Year Built
1925
Listed By:
Charmaine V. Anderson
(860) 838-1928
Source:
Evrealestate
Added: Apr 5
Changed: Sep 13
Last Checked: Sep 13 at 4:29AM
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 Charmaine V. Anderson
Investment Insights
Based on property information with market context.
This well-maintained two-family home features two spacious units, each with separate entrances. The units include bright living rooms, generous bedrooms, full bathrooms, and functional kitchens. A full basement with laundry hookups is available, along with a private backyard and off-street parking. The property is suitable for owner-occupants or investors seeking rental income, offering steady rental income potential. A finished attic provides extra rooms and a bathroom. The property's central location allows convenient access to schools, shopping, dining, and major highways. The property is being sold as-is. The location is very walkable with a score of 72, and somewhat bikeable and has some transit, both with a score of 47.
Key Highlights
- Two spacious units with separate entrances ideal for owner‑occupancy or rental income.
- Central location with easy access to schools, shopping, dining, and major highways.
- Private backyard and off‑street parking.
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
$40,380
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
9.18%
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%
$807,600
$807.6K
Cap Rate 7%
$576,857
$576.9K
Cap Rate 9%
$448,667
$448.7K
Market Conditions
NOI Build-Up for 2,993 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
$77.9K $26.04/SF
− Vacancy
−$4.5K −$1.51/SF
EGI
$73.4K $24.53/SF
− OpEx
−$33.0K −$11.04/SF
NOI
$40.4K $13.49/SF
Area
Hartford, CT
Vacancy
5.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$807,600
Cap Rate 7%
$576,857
Cap Rate 9%
$448,667
Alternative Uses
Best Use
Multifamily LT 5
$627.8K
$549.4K – $732.5K
NOI $43,948 @ 7.0% cap · market cap 9.99%
Second Best
Apartment 5plus
$576.9K
$504.8K – $673.0K
NOI $40,380 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$892.1K
$780.6K – $1.04M
NOI $62,449 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
Explore this area
Business Placement
Demographics for 06112, CT
23,189
Population
8,785
Households
2.6
Avg Household Size
32
Median Age
10%
College-Educated
77%
High-School Grad
3.0 sq mi
ZIP Area
7,730
Density / Sq Mi
$47,010
Median Household Income
$29,383
Median Earnings
$1,229
Median Rent
$203,300
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two spacious units, separate entrances, ideal for owner-occupants or investors.
Where is this duplex located?
The property is located at 11-13 Pershing Street Hartford, CT.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two spacious units with separate entrances ideal for owner‑occupancy or rental income.; Central location with easy access to schools, shopping, dining, and major highways.; Private backyard and off‑street parking.
