Updated Duplex
For Sale
$1,349,900
16 Greenwood Hill St, Stamford, CT 06902
Two residential units offer five-plus bedrooms, two and a half bathrooms, gas boilers, and upgraded electrical systems on each side.
Property Size5,407 SF
Days on Market9
Property Features for 16 Greenwood Hill St
General Information
Standard status
Active
Size
5,407 SF
Property subtype
Multi Family
Building Details
Building Size
5,407 SF
Year Built
1880
Listing Agency:
William Raveis Real Estate
(203) 685-7324
Listed By:
Mitchell Stevenson · License #REB.0751342
(203) 685-7324
Source:
Elliman
Added: Aug 1
Changed: Aug 8
Last Checked: Aug 9 at 10:49AM
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 William Raveis Real Estate
Investment Insights
Based on property information with market context.
This duplex includes two residential sides, each with five or more bedrooms and two and a half bathrooms. Recent updates include gas boilers and electrical system improvements, supporting the property's residential income configuration. The building dates to 1880 and is located at 16 Greenwood Hill St in Stamford, Connecticut.
WalkScore is 88, indicating a Very Walkable setting, while BikeScore is 76, rated Very Bikeable. TransitScore is 71, classified as Excellent Transit. Showings require 24-hour notice.
WalkScore is 88, indicating a Very Walkable setting, while BikeScore is 76, rated Very Bikeable. TransitScore is 71, classified as Excellent Transit. Showings require 24-hour notice.
Key Highlights
- Two‑unit duplex configuration
- Each side includes five or more bedrooms and two and a half bathrooms
- Gas boilers serving the property
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
$104,043
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
7.71%
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%
$2,080,860
$2.1M
Cap Rate 7%
$1,486,329
$1.5M
Cap Rate 9%
$1,156,033
$1.2M
Market Conditions
NOI Build-Up for 5,407 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
$159.0K $29.40/SF
− Vacancy
−$10.3K −$1.91/SF
EGI
$148.6K $27.49/SF
− OpEx
−$44.6K −$8.25/SF
NOI
$104.0K $19.24/SF
Area
Stamford, CT
Vacancy
6.50%
Lease Rate
$29.40 /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%
$2,080,860
Cap Rate 7%
$1,486,329
Cap Rate 9%
$1,156,033
Alternative Uses
Best Use
Multifamily LT 5
$1.49M
$1.30M – $1.73M
NOI $104,043 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $93,057 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $136,852 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,820
Businesses Nearby
Explore this area
Business Placement
Demographics for 06902, CT
69,192
Population
30,142
Households
2.3
Avg Household Size
36
Median Age
44%
College-Educated
85%
High-School Grad
10.0 sq mi
ZIP Area
6,919
Density / Sq Mi
$92,527
Median Household Income
$48,285
Median Earnings
$2,139
Median Rent
$515,000
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?
Duplex - Two residential units offer five-plus bedrooms, two and a half bathrooms, gas boilers, and upgraded electrical systems on each side.
Where is this duplex located?
The property is located at 16 Greenwood Hill St Stamford, CT.
What is the asking price?
The asking price for this property is $1,349,900.
What are key features of this property?
This property features: Two‑unit duplex configuration; Each side includes five or more bedrooms and two and a half bathrooms; Gas boilers serving the property
