Remodeled Duplex With Updated
New
For Sale
$525,000
27-29 Addison Street, Hartford, CT 06120
Two-unit residential property with refreshed interiors, upgraded electrical service, and a new roof.
Property Size1,925 SF
Price / SF$191.40
Days on Market4
Property Features for 27-29 Addison Street
General Information
Standard status
Active
Size
1,925 SF
Property subtype
2 Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Building Size
1,925 SF
Year Built
1925
Listing Agency:
KDR Real Estate LLC
(860) 214-1777
Listed By:
Lucy Biondi · License #452508574
(860) 214-1777
Source:
Iverty
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 13 at 5:57AM
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 KDR Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1925, this two-unit residential property provides a separate living arrangement for each household. The building has undergone extensive updates, including new flooring, a replacement roof, improved electrical components, and refreshed kitchen fixtures. With 2,743 square feet, the duplex offers a practical configuration for an owner-occupant who wants a second unit or for an investor seeking a residential income property.
The property is located at 27-29 Addison Street in Hartford, with downtown, shopping, dining, public transportation, parks, and major commuter routes nearby. Its established residential setting and access to everyday amenities support both owner occupancy and rental use.
The property is located at 27-29 Addison Street in Hartford, with downtown, shopping, dining, public transportation, parks, and major commuter routes nearby. Its established residential setting and access to everyday amenities support both owner occupancy and rental use.
Key Highlights
- Two‑unit residential property with 2,743 square feet
- Built in 1925
- New flooring and roof
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
$40,278
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
7.67%
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%
$805,560
$805.6K
Cap Rate 7%
$575,400
$575.4K
Cap Rate 9%
$447,533
$447.5K
Market Conditions
NOI Build-Up for 2,743 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
$60.9K $22.20/SF
− Vacancy
−$3.4K −$1.22/SF
EGI
$57.5K $20.98/SF
− OpEx
−$17.3K −$6.29/SF
NOI
$40.3K $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%
$805,560
Cap Rate 7%
$575,400
Cap Rate 9%
$447,533
Alternative Uses
Best Use
Multifamily LT 5
$575.4K
$503.5K – $671.3K
NOI $40,278 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$528.7K
$462.6K – $616.8K
NOI $37,007 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$817.6K
$715.4K – $953.9K
NOI $57,233 @ 7.0% cap · market cap 10.90%
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
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 06120, CT
12,636
Population
5,713
Households
2.2
Avg Household Size
32
Median Age
9%
College-Educated
73%
High-School Grad
3.5 sq mi
ZIP Area
3,610
Density / Sq Mi
$33,521
Median Household Income
$35,570
Median Earnings
$1,183
Median Rent
$183,000
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 - Two-unit residential property with refreshed interiors, upgraded electrical service, and a new roof.
Where is this duplex located?
The property is located at 27-29 Addison Street Hartford, CT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit residential property with 2,743 square feet; Built in 1925; New flooring and roof
