Renovated Two-Family
For Sale
$429,900
Pending
163-165 Woodlawn Cir, East Hartford, CT 06108
Newly renovated two-family home featuring extensive updates including roof, windows, electrical, and stainless steel appliances.
Property Size1,826 SF
Days on Market61
Property Features for 163-165 Woodlawn Cir
General Information
Standard status
Pending
Size
1,826 SF
Property subtype
Multi Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Building Size
1,826 SF
Year Built
1941
Listing Agency:
Coldwell Banker Realty
(203) 737-0676
Listed By:
Deborah Brown · License #RES.0791599
(203) 737-0676
Source:
Elliman
Added: Jun 21
Changed: Aug 8
Last Checked: Jul 31 at 5:16AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This newly renovated income-producing two-family residence has been updated throughout with a new roof, windows, gutters, electrical system, flooring, stainless steel appliances, and fresh finishes. The property also includes a brand new fence built for privacy.
The listing is for a duplex layout at 163–165 Woodlawn Cir in East Hartford, Connecticut.
With both units updated and move-in ready, this property is positioned as a turnkey owner-occupied or income-generating two-family home.
The listing is for a duplex layout at 163–165 Woodlawn Cir in East Hartford, Connecticut.
With both units updated and move-in ready, this property is positioned as a turnkey owner-occupied or income-generating two-family home.
Key Highlights
- Newly renovated two‑family home with extensive updates throughout
- New roof, windows, and gutters
- Electrical, flooring, and all new finishes
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
$26,813
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
6.24%
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%
$536,260
$536.3K
Cap Rate 7%
$383,043
$383.0K
Cap Rate 9%
$297,922
$297.9K
Market Conditions
NOI Build-Up for 1,826 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
$40.5K $22.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$38.3K $20.98/SF
− OpEx
−$11.5K −$6.29/SF
NOI
$26.8K $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%
$536,260
Cap Rate 7%
$383,043
Cap Rate 9%
$297,922
Alternative Uses
Best Use
Multifamily LT 5
$383.0K
$335.2K – $446.9K
NOI $26,813 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$351.9K
$307.9K – $410.6K
NOI $24,635 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$544.3K
$476.3K – $635.0K
NOI $38,100 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
174
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
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Frequently Asked Questions
What type of property is this?
Duplex - Newly renovated two-family home featuring extensive updates including roof, windows, electrical, and stainless steel appliances.
Where is this duplex located?
The property is located at 163-165 Woodlawn Cir East Hartford, CT.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Newly renovated two‑family home with extensive updates throughout; New roof, windows, and gutters; Electrical, flooring, and all new finishes
