Renovated Two-Family
New
For Sale
$1,100,000
26 Nichols Avenue, Stamford, CT 06905
Two updated units offer separate utilities, private laundry, outdoor decks, and access to a level backyard.
Property Size2,486 SF
Price / SF$442.48
Days on Market2
Property Features for 26 Nichols Avenue
General Information
Standard status
Active
Size
2,486 SF
Total Parking Spaces
5
Property subtype
Multi Family
Zoning
R10
Net Operating Income
$59,329
Units
Unit Mix
1st fl: 3BR/2BA, upper duplex: 3BR/2BA + office
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1927
Year Renovated
2018
Buildings
1
Stories
3
Listing Agency:
Keller Williams Prestige Prop.
Listed By:
Len Schwartz
(203) 912-5254
Source:
Capmarkrealty
Added: Sep 2
Last Checked: Sep 2 at 2:01PM
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 Keller Williams Prestige Prop.
Investment Insights
Based on property information with market context.
Rebuilt to the studs in 2018, this two-family duplex contains approximately 2,486 square feet and six bedrooms across two updated residences. The first-floor unit includes three bedrooms, two full baths, hardwood flooring, an updated kitchen, a rear deck, and direct backyard access. A three-bedroom, two-bath upper duplex occupies the second and third floors and adds a home office and private third-floor primary suite with full bath.
Both residences have central air, propane heat and cooking, stainless appliances, separate utilities, and private washer and dryers. Exterior improvements include a new roof, gutters, vinyl siding, decks, and rear stairways. Divided garage storage and off-street parking for five vehicles add practical utility. The property is zoned R10 and is located near shopping, dining, parks, public transportation, and major commuting routes in Stamford’s Mid-Ridges neighborhood.
Both residences have central air, propane heat and cooking, stainless appliances, separate utilities, and private washer and dryers. Exterior improvements include a new roof, gutters, vinyl siding, decks, and rear stairways. Divided garage storage and off-street parking for five vehicles add practical utility. The property is zoned R10 and is located near shopping, dining, parks, public transportation, and major commuting routes in Stamford’s Mid-Ridges neighborhood.
Key Highlights
- Approximately 2,486 square feet with two units and six bedrooms
- Rebuilt to the studs in 2018
- First‑floor unit: 3 bedrooms, 2 full baths, hardwood floors, kitchen, rear deck, and backyard access
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
$47,836
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
4.35%
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%
$956,720
$956.7K
Cap Rate 7%
$683,371
$683.4K
Cap Rate 9%
$531,511
$531.5K
Market Conditions
NOI Build-Up for 2,486 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
$73.1K $29.40/SF
− Vacancy
−$4.8K −$1.91/SF
EGI
$68.3K $27.49/SF
− OpEx
−$20.5K −$8.25/SF
NOI
$47.8K $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%
$956,720
Cap Rate 7%
$683,371
Cap Rate 9%
$531,511
Alternative Uses
Best Use
Multifamily LT 5
$683.4K
$598.0K – $797.3K
NOI $47,836 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$611.2K
$534.8K – $713.1K
NOI $42,785 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$898.9K
$786.5K – $1.05M
NOI $62,921 @ 7.0% cap · market cap 5.72%
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
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 06905, CT
21,809
Population
8,726
Households
2.5
Avg Household Size
39
Median Age
62%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
4,276
Density / Sq Mi
$132,730
Median Household Income
$70,273
Median Earnings
$2,330
Median Rent
$608,700
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 updated units offer separate utilities, private laundry, outdoor decks, and access to a level backyard.
Where is this duplex located?
The property is located at 26 Nichols Avenue Stamford, CT.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 2,486 square feet with two units and six bedrooms; Rebuilt to the studs in 2018; First‑floor unit: 3 bedrooms, 2 full baths, hardwood floors, kitchen, rear deck, and backyard access
