Three-Family Residential Income
For Sale
$479,900
260-262 Burnside Avenue, East Hartford, CT 06108
Well-maintained three-family property with hardwood floors, vinyl windows, upgraded roof, siding, and electrical panels.
Property Size2,488 SF
Price / SF$192.89
Days on Market130
Property Features for 260-262 Burnside Avenue
General Information
Standard status
Active
Size
2,488 SF
Total Parking Spaces
8
Property subtype
3 Family
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1880
Tenancy
Multi
Listing Agency:
eXp Realty
Listed By:
Michael Truong · License #RES.0794690
(860) 818-2150
Source:
Lockandkeyre
Added: Apr 30
Changed: Sep 5
Last Checked: Sep 5 at 6:08AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This well-maintained three-family residential income building offers three separate units with generous bedrooms and hardwood floors throughout, along with vinyl windows. The property includes major exterior and systems updates, including a roof replacement in 2026, vinyl siding installed in 2021, and electrical breaker panel upgrades. Units are described as having long-term tenants who pay their own utilities.
The property also includes off-street parking improvements, with a 2-car garage plus a 6-car parking lot and wraparound double driveways. Public remarks indicate the building is located close to downtown, restaurants, parks, and a bus line, with convenient access to I-84, I-91, and Rt-2.
Sold as-is, this is a multifamily opportunity suitable for investors or owner-occupants seeking a three-unit structure with documented upgrades and established tenant occupancy.
The property also includes off-street parking improvements, with a 2-car garage plus a 6-car parking lot and wraparound double driveways. Public remarks indicate the building is located close to downtown, restaurants, parks, and a bus line, with convenient access to I-84, I-91, and Rt-2.
Sold as-is, this is a multifamily opportunity suitable for investors or owner-occupants seeking a three-unit structure with documented upgrades and established tenant occupancy.
Key Highlights
- Well‑maintained 3‑family property built in 1880
- Units feature hardwood floors and vinyl windows
- Major upgrades include roof (2026), vinyl siding (2021), and electrical breaker 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
$36,533
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
7.61%
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%
$730,660
$730.7K
Cap Rate 7%
$521,900
$521.9K
Cap Rate 9%
$405,922
$405.9K
Market Conditions
NOI Build-Up for 2,488 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
$55.2K $22.20/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$52.2K $20.98/SF
− OpEx
−$15.7K −$6.29/SF
NOI
$36.5K $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%
$730,660
Cap Rate 7%
$521,900
Cap Rate 9%
$405,922
Alternative Uses
Best Use
Multifamily LT 5
$521.9K
$456.7K – $608.9K
NOI $36,533 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$479.5K
$419.6K – $559.4K
NOI $33,566 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$741.6K
$648.9K – $865.2K
NOI $51,912 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
Explore this area
Business Placement
Demographics for 06108, CT
24,201
Population
9,963
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
85%
High-School Grad
8.1 sq mi
ZIP Area
2,988
Density / Sq Mi
$55,766
Median Household Income
$35,801
Median Earnings
$1,161
Median Rent
$218,800
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 - Well-maintained three-family property with hardwood floors, vinyl windows, upgraded roof, siding, and electrical panels.
Where is this triplex located?
The property is located at 260-262 Burnside Avenue East Hartford, CT.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Well‑maintained 3‑family property built in 1880; Units feature hardwood floors and vinyl windows; Major upgrades include roof (2026), vinyl siding (2021), and electrical breaker panels
