Two-Unit Duplex
New
For Sale
$555,000
12 Chestnut Street, Stamford, CT 06902
MULTI_FAMILY - Stamford, CT
Property Size2,204 SF
Lot Size0.08 Acres
Price / SF$251.81
Days on Market7
Property Features for 12 Chestnut Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bedroom 6, Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 1, Bedroom 1
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Adams to Chestnut
Subdivision
Mid City
Standard status
Active
Size
2,204 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7844
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
William Pitt Sotheby's Int'l · Sotheby's International Realty
(203) 968-1500
Listed By:
Patricia Rattray
(203) 570-2096
Added: Aug 5
Last Checked: Aug 11 at 8:06PM
MLS# 24196946
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 legally established duplex contains two residential units within a two-story structure built in 1920. The property provides 2,204 square feet of living area and 3,236 square feet of gross area, with six bedrooms, two full bathrooms, and 12 total rooms. Each unit is included in the existing two-family configuration, and the residence is being offered in as-is condition.
The property occupies a 3,500-square-foot lot in downtown Stamford and carries R5 zoning. Public water and public sewer serve the site. Heating is provided by a combination-fuel hot-water baseboard system, according to town assessor records. The existing layout supports continued two-unit residential use, renovation, or redevelopment as described in the property information.
The property occupies a 3,500-square-foot lot in downtown Stamford and carries R5 zoning. Public water and public sewer serve the site. Heating is provided by a combination-fuel hot-water baseboard system, according to town assessor records. The existing layout supports continued two-unit residential use, renovation, or redevelopment as described in the property information.
Key Highlights
- Legally established two‑family residence with two units
- 2,204 square feet of living area and 3,236 square feet 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 - Two-story duplex with separate units, public utilities, and renovation potential in downtown Stamford.
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 square feet of living area and 3,236 square feet gross; Six bedrooms, two full bathrooms, and 12 total rooms
