Two-Unit Duplex with Front
For Sale
$712,985
224 Seaside Avenue, Stamford, CT 06902
Separate living areas open to a landscaped backyard with outdoor space.
Property Size1,914 SF
Price / SF$302.37
Days on Market12
Property Features for 224 Seaside Avenue
General Information
Standard status
Active
Size
1,914 SF
Property subtype
2 Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
covered front porch
backyard
Building Details
Building Size
1,914 SF
Year Built
1914
Listing Agency:
William Raveis Real Estate
(203) 247-3763
Listed By:
Susan Hanson · License #452508574
(203) 247-3763
Source:
Iverty
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 29 at 8:52AM
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 two-family property contains approximately 2,358 square feet of living space arranged across two separate living areas. The home offers five bedrooms and four full baths, with comfortable room sizes and flexible interior space. A covered front porch extends the usable living area, while the backyard provides room for outdoor activities and includes mature landscaping. A lower-level accessory apartment with a full bath is possible, subject to applicable requirements.
Located at 224 Seaside Ave in Stamford, Connecticut, the property has convenient access to shopping, restaurants, transportation, and major commuter routes. Walk Score is 88, Transit Score is 62, and Bike Score is 47. Built in 1914, the property can accommodate two-family living, extended-household needs, or an owner-occupied arrangement with separate living space.
Located at 224 Seaside Ave in Stamford, Connecticut, the property has convenient access to shopping, restaurants, transportation, and major commuter routes. Walk Score is 88, Transit Score is 62, and Bike Score is 47. Built in 1914, the property can accommodate two-family living, extended-household needs, or an owner-occupied arrangement with separate living space.
Key Highlights
- Two‑family property with approximately 2,358 square feet of living space
- Five bedrooms and four full baths across two separate living areas
- Covered front porch and backyard with mature landscaping
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
$45,373
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
6.36%
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%
$907,460
$907.5K
Cap Rate 7%
$648,186
$648.2K
Cap Rate 9%
$504,144
$504.1K
Market Conditions
NOI Build-Up for 2,358 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
$69.3K $29.40/SF
− Vacancy
−$4.5K −$1.91/SF
EGI
$64.8K $27.49/SF
− OpEx
−$19.4K −$8.25/SF
NOI
$45.4K $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%
$907,460
Cap Rate 7%
$648,186
Cap Rate 9%
$504,144
Alternative Uses
Best Use
Multifamily LT 5
$648.2K
$567.2K – $756.2K
NOI $45,373 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$579.7K
$507.3K – $676.4K
NOI $40,582 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$852.6K
$746.0K – $994.7K
NOI $59,681 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
777
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 - Separate living areas open to a landscaped backyard with outdoor space.
Where is this duplex located?
The property is located at 224 Seaside Avenue Stamford, CT.
What is the asking price?
The asking price for this property is $712,985.
What are key features of this property?
This property features: Two‑family property with approximately 2,358 square feet of living space; Five bedrooms and four full baths across two separate living areas; Covered front porch and backyard with mature landscaping
