Two-Unit Duplex with Large
For Sale
$290,000
166-168 Middlefield St, Hartford, CT 06112
1922 duplex offering two residential units and substantial outdoor space in Hartford.
Property Size1,728 SF
Price / SF$167.82
Days on Market11
Property Features for 166-168 Middlefield St
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
backyard
Building Details
Year Built
1922
Listing Agency:
Clover Realty Group, LLC
Listed By:
Michael J. Burke (860) 752-3955 (860) 977-7322
(860) 977-7322
Source:
Fairfieldcountycthomesearch
Added: Aug 24
Changed: Sep 2
Last Checked: Sep 2 at 6:24PM
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 Clover Realty Group, LLC
Investment Insights
Based on property information with market context.
This 1922 duplex contains two residential units within 1,728 square feet. The property includes a large backyard that provides additional outdoor space for occupants and supports flexible use of the grounds.
Located in Hartford, the home is near shopping, dining, schools, public transportation, and major roadways. Its two-unit configuration supports an owner-occupant arrangement or continued rental use, subject to applicable requirements.
Located in Hartford, the home is near shopping, dining, schools, public transportation, and major roadways. Its two-unit configuration supports an owner-occupant arrangement or continued rental use, subject to applicable requirements.
Key Highlights
- Two‑unit duplex configuration
- 1,728 square feet of property size
- Built in 1922
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
$25,374
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
8.75%
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%
$507,480
$507.5K
Cap Rate 7%
$362,486
$362.5K
Cap Rate 9%
$281,933
$281.9K
Market Conditions
NOI Build-Up for 1,728 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
$38.4K $22.20/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$36.2K $20.98/SF
− OpEx
−$10.9K −$6.29/SF
NOI
$25.4K $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%
$507,480
Cap Rate 7%
$362,486
Cap Rate 9%
$281,933
Alternative Uses
Best Use
Multifamily LT 5
$362.5K
$317.2K – $422.9K
NOI $25,374 @ 7.0% cap · market cap 8.75%
Second Best
Apartment 5plus
$333.0K
$291.4K – $388.6K
NOI $23,313 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$515.1K
$450.7K – $600.9K
NOI $36,055 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
Explore this area
Business Placement
Demographics for 06112, CT
23,189
Population
8,785
Households
2.6
Avg Household Size
32
Median Age
10%
College-Educated
77%
High-School Grad
3.0 sq mi
ZIP Area
7,730
Density / Sq Mi
$47,010
Median Household Income
$29,383
Median Earnings
$1,229
Median Rent
$203,300
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 - 1922 duplex offering two residential units and substantial outdoor space in Hartford.
Where is this duplex located?
The property is located at 166-168 Middlefield St Hartford, CT.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,728 square feet of property size; Built in 1922
