Renovated Triplex with Three-Bedroom
For Sale
$449,900
24 Bond St, Hartford, CT 06114
Three-unit layout combines a larger upper-level residence with two first-floor apartments.
Property Size2,440 SF
Price / SF$184.39
Days on Market13
Property Features for 24 Bond St
General Information
Standard status
Active
Size
2,440 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1920
Listing Agency:
Golden Rule Realty
(860) 883-7637
Listed By:
Tony Marques
Source:
Valkyrierealtyllc
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 12:54PM
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 Golden Rule Realty
Investment Insights
Based on property information with market context.
This 2,440-square-foot triplex at 24 Bond St includes three residential units. The second floor contains one larger apartment with 3 bedrooms and 2 baths, while the first floor offers two smaller apartments.
The property was built in 1920 and has undergone comprehensive renovation, including new plumbing, electrical systems, windows, insulation, sheetrock walls and ceilings, bathrooms, kitchens, flooring, heating systems, and roof. The updated configuration provides a larger upper-level residence alongside two additional apartments within the same building.
The property was built in 1920 and has undergone comprehensive renovation, including new plumbing, electrical systems, windows, insulation, sheetrock walls and ceilings, bathrooms, kitchens, flooring, heating systems, and roof. The updated configuration provides a larger upper-level residence alongside two additional apartments within the same building.
Key Highlights
- 2,440‑square‑foot triplex at 24 Bond St, Hartford, CT 06114
- Three‑unit configuration with one second‑floor apartment and two first‑floor apartments
- Second‑floor unit includes 3 bedrooms and 2 baths
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
$35,828
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
7.96%
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%
$716,560
$716.6K
Cap Rate 7%
$511,829
$511.8K
Cap Rate 9%
$398,089
$398.1K
Market Conditions
NOI Build-Up for 2,440 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
$54.2K $22.20/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$51.2K $20.98/SF
− OpEx
−$15.4K −$6.29/SF
NOI
$35.8K $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%
$716,560
Cap Rate 7%
$511,829
Cap Rate 9%
$398,089
Alternative Uses
Best Use
Multifamily LT 5
$511.8K
$447.9K – $597.1K
NOI $35,828 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$470.3K
$411.5K – $548.7K
NOI $32,919 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$727.3K
$636.4K – $848.5K
NOI $50,911 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,415
Businesses Nearby
Explore this area
Business Placement
Demographics for 06114, CT
26,257
Population
11,206
Households
2.3
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
4.0 sq mi
ZIP Area
6,564
Density / Sq Mi
$47,905
Median Household Income
$31,996
Median Earnings
$1,296
Median Rent
$228,300
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?
Triplex - Three-unit layout combines a larger upper-level residence with two first-floor apartments.
Where is this triplex located?
The property is located at 24 Bond St Hartford, CT.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 2,440‑square‑foot triplex at 24 Bond St, Hartford, CT 06114; Three‑unit configuration with one second‑floor apartment and two first‑floor apartments; Second‑floor unit includes 3 bedrooms and 2 baths
