Two-Unit Duplex
For Sale
$555,000
12 Chestnut Street, Stamford, CT 06902
Legally established two-family residence with separate units across two stories.
Property Size2,204 SF
Lot Size0.08 Acres
Price / SF$251.81
Days on Market8
Property Features for 12 Chestnut Street
General Information
Standard status
Active
Size
2,204 SF
Lot size
0.08 Acres
Property subtype
2 Family
Zoning
R5
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Stories
2
Listing Agency:
William Pitt Sotheby's Int'l
(203) 570-2096
Listed By:
Patricia Rattray
(203) 570-2096
Source:
Lockandkeyre
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 6:02AM
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 William Pitt Sotheby's Int'l
Investment Insights
Based on property information with market context.
Built in 1920, this legally established duplex contains two residential units within a two-story structure. The property provides 2,204 sq. ft. of living area and 3,236 sq. ft. gross, with six bedrooms, two full bathrooms, and 12 total rooms. Each unit contributes to the existing two-family configuration, while combination-fuel hot water baseboard heat serves the home.
The 3,500 sq. ft. lot is zoned R5 and identified under Land Use Code 104: 2-Family Residence. Located in downtown Stamford, the property is offered as-is and presents an existing residential income-property format for renovation or continued two-unit use.
The 3,500 sq. ft. lot is zoned R5 and identified under Land Use Code 104: 2-Family Residence. Located in downtown Stamford, the property is offered as-is and presents an existing residential income-property format for renovation or continued two-unit use.
Key Highlights
- Legally established two‑family residence with two units
- 2,204 sq. ft. of living area and 3,236 sq. ft. gross
- Six bedrooms, two full bathrooms, and 12 total rooms
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
$42,410
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
7.64%
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%
$848,200
$848.2K
Cap Rate 7%
$605,857
$605.9K
Cap Rate 9%
$471,222
$471.2K
Market Conditions
NOI Build-Up for 2,204 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
$64.8K $29.40/SF
− Vacancy
−$4.2K −$1.91/SF
EGI
$60.6K $27.49/SF
− OpEx
−$18.2K −$8.25/SF
NOI
$42.4K $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%
$848,200
Cap Rate 7%
$605,857
Cap Rate 9%
$471,222
Alternative Uses
Best Use
Multifamily LT 5
$605.9K
$530.1K – $706.8K
NOI $42,410 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$541.9K
$474.2K – $632.2K
NOI $37,932 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$796.9K
$697.3K – $929.7K
NOI $55,784 @ 7.0% cap · market cap 10.05%
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
5,127
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 - Legally established two-family residence with separate units across two stories.
Where is this duplex located?
The property is located at 12 Chestnut Street Stamford, CT.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Legally established two‑family residence with two units; 2,204 sq. ft. of living area and 3,236 sq. ft. gross; Six bedrooms, two full bathrooms, and 12 total rooms
