Two-Unit Residential Income
For Sale
$799,000
171 Henry Street, Stamford, CT 06902
Two separate 2-bedroom units with off-street parking and yard space offer straightforward residential income living.
Property Size1,514 SF
Price / SF$527.74
Days on Market70
Property Features for 171 Henry Street
General Information
Standard status
Active
Size
1,514 SF
Property subtype
2 Family
Building Details
Year Built
1920
Listing Agency:
Compass Connecticut, LLC
(917) 699-2783
Listed By:
Jennifer Leahy · License #RES.0798123
(917) 699-2783
Source:
Lockandkeyre
Added: Jun 17
Changed: Aug 25
Last Checked: Aug 25 at 5:28AM
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 Compass Connecticut, LLC
Investment Insights
Based on property information with market context.
This two-unit duplex presents two spacious residences, each occupying its own level. Each unit includes 2 bedrooms, 1 full bathroom, a generously sized living room, and an eat-in kitchen, with shared use of the front porch for both apartments. Additional utility space includes an unfinished lower level and a third floor that provides extra storage.
The property is located in Stamford’s South End, with proximity to downtown Stamford and Metro-North, along with waterfront amenities, shopping, dining, and major commuting routes. Walk score is noted as very walkable, and transit score is listed as good.
The layout can work well for an owner-occupant or an investor seeking a manageable two-unit configuration. With off-street parking for up to four vehicles and a spacious grassy front yard, the property supports practical day-to-day needs for residents.
The property is located in Stamford’s South End, with proximity to downtown Stamford and Metro-North, along with waterfront amenities, shopping, dining, and major commuting routes. Walk score is noted as very walkable, and transit score is listed as good.
The layout can work well for an owner-occupant or an investor seeking a manageable two-unit configuration. With off-street parking for up to four vehicles and a spacious grassy front yard, the property supports practical day-to-day needs for residents.
Key Highlights
- Income‑producing multifamily built in 1920 with 2 separate 2‑bedroom units
- Each unit offers 2 bedrooms, 1 full bathroom, a living room, and an eat‑in kitchen
- Units are set up on separate levels, plus shared access to the front porch
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
$29,133
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
3.65%
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%
$582,660
$582.7K
Cap Rate 7%
$416,186
$416.2K
Cap Rate 9%
$323,700
$323.7K
Market Conditions
NOI Build-Up for 1,514 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
$44.5K $29.40/SF
− Vacancy
−$2.9K −$1.91/SF
EGI
$41.6K $27.49/SF
− OpEx
−$12.5K −$8.25/SF
NOI
$29.1K $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%
$582,660
Cap Rate 7%
$416,186
Cap Rate 9%
$323,700
Alternative Uses
Best Use
Multifamily LT 5
$416.2K
$364.2K – $485.6K
NOI $29,133 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$372.2K
$325.7K – $434.3K
NOI $26,057 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$547.4K
$479.0K – $638.7K
NOI $38,320 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,912
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 separate 2-bedroom units with off-street parking and yard space offer straightforward residential income living.
Where is this duplex located?
The property is located at 171 Henry Street Stamford, CT.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Income‑producing multifamily built in 1920 with 2 separate 2‑bedroom units; Each unit offers 2 bedrooms, 1 full bathroom, a living room, and an eat‑in kitchen; Units are set up on separate levels, plus shared access to the front porch
