Fully Renovated Three-Family
For Sale
$420,000
Pending
14-16 Clark Street, Hartford, CT 06120
Fully renovated three-family residence offers separate utilities per unit and a fenced-in yard.
Property Size1,900 SF
Days on Market53
Property Features for 14-16 Clark Street
General Information
Standard status
Pending
Size
1,900 SF
Property subtype
3 Family
Additional Details
Business Included
Yes
Fenced Yard
Yes
Multifamily Units
3
Building Details
Building Size
1,900 SF
Year Built
1900
Listing Agency:
KW Legacy Partners
(860) 796-3055
Listed By:
Marta Lisowska
(860) 796-3055
Source:
Iverty
Added: Jul 8
Changed: Aug 24
Last Checked: Aug 23 at 9:47AM
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 KW Legacy Partners
Investment Insights
Based on property information with market context.
This fully renovated three-family home is designed for straightforward ownership with each unit having separate utilities. The property has been updated with a new roof, new gas furnaces, new windows, new floors, and new appliances. Each unit also has its own gas, heat, and electric, with tenants responsible for their utility usage.
The home includes outdoor space with a fenced-in yard. Additional interior area is available, with the basement featuring approximately 1,003 square feet and space that can support storage and laundry hook-ups.
With multiple large apartments and the benefit of separate systems, the property is well suited for an owner-occupant or investor seeking a move-in ready, low-maintenance income setup.
The home includes outdoor space with a fenced-in yard. Additional interior area is available, with the basement featuring approximately 1,003 square feet and space that can support storage and laundry hook-ups.
With multiple large apartments and the benefit of separate systems, the property is well suited for an owner-occupant or investor seeking a move-in ready, low-maintenance income setup.
Key Highlights
- Fully renovated 3‑family home with multiple unit updates including new roof, new windows, floors, and appliances
- Three new gas furnaces—one for each unit
- Each unit has separate utilities; tenants pay their own gas, heat, and electric
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
$37,414
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
8.91%
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%
$748,280
$748.3K
Cap Rate 7%
$534,486
$534.5K
Cap Rate 9%
$415,711
$415.7K
Market Conditions
NOI Build-Up for 2,548 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
$56.6K $22.20/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$53.4K $20.98/SF
− OpEx
−$16.0K −$6.29/SF
NOI
$37.4K $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%
$748,280
Cap Rate 7%
$534,486
Cap Rate 9%
$415,711
Alternative Uses
Best Use
Multifamily LT 5
$534.5K
$467.7K – $623.6K
NOI $37,414 @ 7.0% cap · market cap 8.91%
Second Best
Apartment 5plus
$491.1K
$429.7K – $572.9K
NOI $34,376 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$759.5K
$664.6K – $886.1K
NOI $53,164 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
834
Businesses Nearby
Explore this area
Business Placement
Demographics for 06120, CT
12,636
Population
5,713
Households
2.2
Avg Household Size
32
Median Age
9%
College-Educated
73%
High-School Grad
3.5 sq mi
ZIP Area
3,610
Density / Sq Mi
$33,521
Median Household Income
$35,570
Median Earnings
$1,183
Median Rent
$183,000
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?
Triplex - Fully renovated three-family residence offers separate utilities per unit and a fenced-in yard.
Where is this triplex located?
The property is located at 14-16 Clark Street Hartford, CT.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Fully renovated 3‑family home with multiple unit updates including new roof, new windows, floors, and appliances; Three new gas furnaces—one for each unit; Each unit has separate utilities; tenants pay their own gas, heat, and electric
