Two-Family Residential Income
For Sale
$350,000
145 Adelaide Street, Hartford, CT 06114
Well-maintained two-family home with separate units and a large fully fenced backyard plus off-street parking.
Property Size1,900 SF
Price / SF$191.99
Days on Market60
Property Features for 145 Adelaide Street
General Information
Standard status
Active
Size
1,900 SF
Property subtype
2 Family
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Building Details
Building Size
1,900 SF
Year Built
1900
Listing Agency:
Coldwell Banker Realty
Listed By:
Theresa Casasanta
(860) 826-9418
Source:
Iverty
Added: Jul 9
Changed: Sep 5
Last Checked: Sep 5 at 7:14AM
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 well-maintained two-family property offers distinct living arrangements across multiple floors. The first-floor unit features a spacious one-bedroom layout with a living room, dining area, full bathroom, and an oversized eat-in kitchen with brick-style accents. Refinished flooring and carpeting are included throughout. The second-floor unit includes a living room, kitchen, full bathroom, and one bedroom, with two additional generously sized bedrooms on the third floor.
The home includes a large, fully fenced backyard and ample off-street parking. It is described as conveniently located near public transportation, shopping, restaurants, and major highways.
Overall, the property presents a straightforward multifamily configuration with separate unit spaces and outdoor use, supported by maintained interior finishes and off-street parking.
The home includes a large, fully fenced backyard and ample off-street parking. It is described as conveniently located near public transportation, shopping, restaurants, and major highways.
Overall, the property presents a straightforward multifamily configuration with separate unit spaces and outdoor use, supported by maintained interior finishes and off-street parking.
Key Highlights
- Two‑family property in Hartford’s South End, built in 1900
- First‑floor unit: 1 bedroom with living room, dining area, full bath, and oversized eat‑in kitchen
- Second‑floor unit: living room, kitchen, full bath, and 1 bedroom
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
$26,768
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
7.65%
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%
$535,360
$535.4K
Cap Rate 7%
$382,400
$382.4K
Cap Rate 9%
$297,422
$297.4K
Market Conditions
NOI Build-Up for 1,823 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
$38.2K $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%
$535,360
Cap Rate 7%
$382,400
Cap Rate 9%
$297,422
Alternative Uses
Best Use
Multifamily LT 5
$382.4K
$334.6K – $446.1K
NOI $26,768 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$351.4K
$307.4K – $409.9K
NOI $24,595 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$543.4K
$475.5K – $634.0K
NOI $38,037 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,436
Businesses Nearby
Explore this area
Business Placement
Demographics for 06114, CT
26,257
Population
11,206
Households
2.3
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
4.0 sq mi
ZIP Area
6,564
Density / Sq Mi
$47,905
Median Household Income
$31,996
Median Earnings
$1,296
Median Rent
$228,300
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 two-family home with separate units and a large fully fenced backyard plus off-street parking.
Where is this duplex located?
The property is located at 145 Adelaide Street Hartford, CT.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑family property in Hartford’s South End, built in 1900; First‑floor unit: 1 bedroom with living room, dining area, full bath, and oversized eat‑in kitchen; Second‑floor unit: living room, kitchen, full bath, and 1 bedroom
