Updated Duplex in East
For Sale
$439,000
76-78 Higbie Dr, East Hartford, CT 06108
Well-maintained, fully tenanted duplex with modern updates and immediate cash flow.
Property Size1,584 SF
Days on Market134
Property Features for 76-78 Higbie Dr
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Multi Family
Building Details
Building Size
1,584 SF
Year Built
1942
Listing Agency:
eXp Realty
(860) 995-1181
Listed By:
Yahira L. Rodriguez
(860) 995-1181
Source:
Elliman
Added: Apr 9
Changed: Aug 8
Last Checked: Aug 8 at 12:58PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Located in East Hartford, 76-78 Higbie Drive is a well-maintained duplex presenting an investment opportunity. Each unit includes 2 bedrooms, offering living spaces for tenants. The property has been recently updated with modern improvements. Separate driveways for each unit provide convenience and privacy. The property is fully tenant occupied, allowing for immediate cash flow. The location is near local amenities, shopping, dining, and major commuter routes. The bike score is 29, indicating it is somewhat bikeable, and the walk score is 46, indicating car dependence.
Key Highlights
- Fully tenant‑occupied, providing immediate cash flow.
- Each unit has 2 spacious bedrooms.
- Recently updated, enhancing appeal and long‑term value.
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
$23,259
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
5.30%
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%
$465,180
$465.2K
Cap Rate 7%
$332,271
$332.3K
Cap Rate 9%
$258,433
$258.4K
Market Conditions
NOI Build-Up for 1,584 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
$35.2K $22.20/SF
− Vacancy
−$1.9K −$1.22/SF
EGI
$33.2K $20.98/SF
− OpEx
−$10.0K −$6.29/SF
NOI
$23.3K $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%
$465,180
Cap Rate 7%
$332,271
Cap Rate 9%
$258,433
Alternative Uses
Best Use
Multifamily LT 5
$332.3K
$290.7K – $387.7K
NOI $23,259 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$305.3K
$267.1K – $356.2K
NOI $21,370 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$472.1K
$413.1K – $550.8K
NOI $33,050 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
Business Placement
Demographics for 06108, CT
24,201
Population
9,963
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
85%
High-School Grad
8.1 sq mi
ZIP Area
2,988
Density / Sq Mi
$55,766
Median Household Income
$35,801
Median Earnings
$1,161
Median Rent
$218,800
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 - Well-maintained, fully tenanted duplex with modern updates and immediate cash flow.
Where is this duplex located?
The property is located at 76-78 Higbie Dr East Hartford, CT.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Fully tenant‑occupied, providing immediate cash flow.; Each unit has 2 spacious bedrooms.; Recently updated, enhancing appeal and long‑term value.
