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    Legal 2-Family Residence with Separate Utilities Title is generated by Realmo AI

    18 Lawrence Street, Norwalk, CT 06854

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    For Sale
    $689,000

    MULTI_FAMILY - Norwalk, CT

    Property size:
    1,976 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $348/SF
    Added:
    May 28, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 4 at 11:06 am

    Property Features for 18 Lawrence Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    C
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bathroom 1, Basement, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 1, Bathroom 2
    Parking
    3
    Patio and Porch features
    Patio
    Exterior features
    Balcony,Awnings,Gutters,Garden Area,Lighting,Patio
    Basement
    Concrete, Full
    Standard status
    Active
    Size
    1,976 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    8616

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Natural Gas
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1916
    Architectural style
    Other

    We can help!

    Listing Contact
    Dean Papadopoulos

    Listing agent Dean Papadopoulos

    Listing office Realty ONE Group Connect 123 Water Street, Unit 3, Monroe, CT

    Listing date May 28, 2026

    MLS# 24179186 Listing URL

    Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Legal 2‑family property built in 1916 with separate utilities for each unit (natural gas heat/hot water + SNEW electric/water).
    • Unit 1: 1BR/1BA with living, dining, and EIK; rented at $1,900/month; includes washer/dryer; storage in basement; faces Lawrence St with front patio.
    • Unit 2: 2‑level layout with 2 bedrooms/1 full bath on the 2nd floor plus additional upper‑level bedrooms and full bath; includes rear balcony and basement storage.
    • All mechanicals are newer and annually serviced since the owner purchased in 2021; 1st‑floor hot water heater replaced in 2025.
    • Public water and public sewer (city water/city sewer); basement described as clean and dry with interior/exterior access.
    • Based on potential rents, listed cap rate is 8.1%: Unit 2 rent is $3,100/month, described as below market value.

    Overview

    This is a legal 2-family residence configured for independent living with all utilities separate. Unit 1 offers 1 bedroom, 1 full bathroom with a stand-up shower, plus a living room, dining area, and eat-in kitchen, and it faces the front with a front patio. Unit 1 includes a washer/dryer and basement storage; the laundry is for the owner. The basement is clean and dry, and the home’s mechanicals are newer and annually serviced since the owner purchased in 2021. The 1st-floor hot water heater was replaced in 2025.

    Unit 2 is a two-level layout with 2 bedrooms and 1 full bathroom on the second floor, along with additional living space, dining, and a kitchen. The second floor also includes a rear balcony. An upper level provides 2 additional bedrooms, a full bathroom, and a rear balcony for entry/exit. Unit 2 uses the basement for storage and handles landscaping. There is interior and exterior access to the basement.

    Located in the heart of SONO, the property is described as convenient to Washington Street shops and restaurants, SONO Collection Mall, Veterans Park, Maritime Aquarium, and commuter access to the South and East Norwalk Train Stations, with I-95 and Route 7 nearby. Unit 1 is described as recently updated, and the setup supports either owner occupancy or long-term rental operation with separate systems for the two units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norwalk
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.415929
    Latitude
    41.087475

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    FAQs

    What type of property is this?
    Duplex - Two-family property with all utilities separate, supporting flexible owner-occupied or investment use in Norwalk’s SONO area.
    Where is this duplex located?
    The property is located at 18 Lawrence Street Norwalk, CT.
    What is the asking price?
    The asking price for this property is $689,000.
    What are key features of this property?
    This property features: Legal 2‑family property built in 1916 with separate utilities for each unit (natural gas heat/hot water + SNEW electric/water).; Unit 1: 1BR/1BA with living, dining, and EIK; rented at $1,900/month; includes washer/dryer; storage in basement; faces Lawrence St with front patio.; Unit 2: 2‑level layout with 2 bedrooms/1 full bath on the 2nd floor plus additional upper‑level bedrooms and full bath; includes rear balcony and basement storage.
    (203) 980-2509
    We can help!
    Listing Contact
    Dean Papadopoulos
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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