Two-Family Residential Income
For Sale
$519,900
172 Nott Street, Wethersfield, CT 06109
Two distinct units include dedicated porch access, a private upstairs deck, and shared laundry plus solar panels.
Property Size2,825 SF
Price / SF$184.04
Days on Market86
Property Features for 172 Nott Street
General Information
Standard status
Active
Size
2,825 SF
Total Parking Spaces
1
Property subtype
2 Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1954
Stories
2
Tenancy
Multi
Listing Agency:
Berkshire Hathaway NE Prop.
(860) 508-3255
Listed By:
Patricia Deperry · License #RES.0788018
(860) 508-3255
Source:
Lockandkeyre
Added: Jun 2
Changed: Aug 23
Last Checked: Aug 24 at 6:09AM
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 Berkshire Hathaway NE Prop.
Investment Insights
Based on property information with market context.
This two-family residential income property offers two separate units with multiple outdoor and functional features. The first-floor unit includes two bedrooms, a living area, and a dining space, along with its own porch and ramp access. It also benefits from radiant floors, and the home is equipped with solar panels. The second-floor owner’s unit includes a kitchen that opens into living and dining areas, with vaulted ceilings in the primary bedroom and den, plus a private deck.
Outside, there is a covered patio with a built-in kitchen area and a fire pit. Additional improvements include a one-car garage, a shed, and a large shared laundry room.
The property is positioned for day-to-day walkability and has basic transit access based on the provided scores.
Outside, there is a covered patio with a built-in kitchen area and a fire pit. Additional improvements include a one-car garage, a shed, and a large shared laundry room.
The property is positioned for day-to-day walkability and has basic transit access based on the provided scores.
Key Highlights
- Two‑family home built in 1954 with two distinct units
- First‑floor unit includes 2 bedrooms, living area, dining space, and its own porch with ramp access
- Radiant floors on the first level and solar panels
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
$41,482
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
7.98%
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%
$829,640
$829.6K
Cap Rate 7%
$592,600
$592.6K
Cap Rate 9%
$460,911
$460.9K
Market Conditions
NOI Build-Up for 2,825 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
$62.7K $22.20/SF
− Vacancy
−$3.5K −$1.22/SF
EGI
$59.3K $20.98/SF
− OpEx
−$17.8K −$6.29/SF
NOI
$41.5K $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%
$829,640
Cap Rate 7%
$592,600
Cap Rate 9%
$460,911
Alternative Uses
Best Use
Multifamily LT 5
$592.6K
$518.5K – $691.4K
NOI $41,482 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$544.5K
$476.4K – $635.2K
NOI $38,113 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$842.1K
$736.8K – $982.4K
NOI $58,944 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 06109, CT
27,298
Population
11,833
Households
2.3
Avg Household Size
44
Median Age
54%
College-Educated
95%
High-School Grad
12.3 sq mi
ZIP Area
2,219
Density / Sq Mi
$118,523
Median Household Income
$70,225
Median Earnings
$1,303
Median Rent
$300,500
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 distinct units include dedicated porch access, a private upstairs deck, and shared laundry plus solar panels.
Where is this duplex located?
The property is located at 172 Nott Street Wethersfield, CT.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Two‑family home built in 1954 with two distinct units; First‑floor unit includes 2 bedrooms, living area, dining space, and its own porch with ramp access; Radiant floors on the first level and solar panels
