Two-Family Residential Income
For Sale
$409,900
748 Burnside Ave, East Hartford, CT 06108
Well-maintained two-family home with private entrances, hardwood floors, two bedrooms per unit, and a two-car garage.
Property Size2,236 SF
Days on Market47
Property Features for 748 Burnside Ave
General Information
Standard status
Active
Size
2,236 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Building Size
2,236 SF
Year Built
1920
Listing Agency:
Premier Properties of CT
(860) 371-4583
Listed By:
Mariella Quintana · License #RES.0811518
(860) 371-4583
Source:
Elliman
Added: Jun 23
Changed: Aug 7
Last Checked: Aug 7 at 1:25AM
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 Premier Properties of CT
Investment Insights
Based on property information with market context.
This well-maintained two-family residence is designed with separate living spaces for each unit, including private entrances. Each unit includes hardwood floors, a large living room and kitchen area, two spacious bedrooms, and one bathroom. The property also features convenient solar panels, along with a two-car garage and a clean, dry, large basement space.
The home is located in East Hartford in a convenient, quiet setting, with access to a bus line just steps away and proximity to the Manchester border.
The home is located in East Hartford in a convenient, quiet setting, with access to a bus line just steps away and proximity to the Manchester border.
Key Highlights
- Well‑maintained two‑family home built in 1920
- Hardwood floors throughout
- Two bedrooms and one bathroom per unit
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
$32,833
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
8.01%
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%
$656,660
$656.7K
Cap Rate 7%
$469,043
$469.0K
Cap Rate 9%
$364,811
$364.8K
Market Conditions
NOI Build-Up for 2,236 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
$49.6K $22.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$46.9K $20.98/SF
− OpEx
−$14.1K −$6.29/SF
NOI
$32.8K $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%
$656,660
Cap Rate 7%
$469,043
Cap Rate 9%
$364,811
Alternative Uses
Best Use
Multifamily LT 5
$469.0K
$410.4K – $547.2K
NOI $32,833 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$431.0K
$377.1K – $502.8K
NOI $30,167 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$666.5K
$583.2K – $777.6K
NOI $46,654 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
598
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home with private entrances, hardwood floors, two bedrooms per unit, and a two-car garage.
Where is this duplex located?
The property is located at 748 Burnside Ave East Hartford, CT.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: Well‑maintained two‑family home built in 1920; Hardwood floors throughout; Two bedrooms and one bathroom per unit
