Two-Unit Duplex with
For Sale
$525,000
27-29 Addison Street, Hartford, CT 06120
Separate-floor residences offer three-bedroom layouts, outdoor space, and off-street parking for occupants or tenants.
Property Size2,743 SF
Price / SF$191.40
Days on Market174
Property Features for 27-29 Addison Street
General Information
Standard status
Active
Size
2,743 SF
Property subtype
Multi-Family / 2 Family
Zoning
N3-2
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,891
Amenities
garage
off-street parking
flat level yard
Yes
Hot Water
13
Window Unit
Pull-Down Stairs
Not Applicable
Building Details
Year Built
1925
Listing Agency:
The Washington Agency
Listed By:
Ashley Henry · License #RES.0819783
(860) 482-7044
Source:
Compass
Added: Mar 13
Changed: Sep 1
Last Checked: Aug 31 at 9:49PM
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 The Washington Agency
Investment Insights
Based on property information with market context.
Built in 1925, this two-family property contains 2,743 square feet arranged across separate floors. Each residence includes three bedrooms, creating a six-bedroom configuration overall. The building also includes a garage, off-street parking, and a flat yard that provides usable outdoor space with straightforward upkeep.
Located at 27 Addison Street in Hartford, Connecticut, the property is zoned N3-2. The separate-floor arrangement supports distinct residential living areas within one duplex structure, while the garage and on-site parking add practical utility for residents.
Located at 27 Addison Street in Hartford, Connecticut, the property is zoned N3-2. The separate-floor arrangement supports distinct residential living areas within one duplex structure, while the garage and on-site parking add practical utility for residents.
Key Highlights
- 2,743‑square‑foot duplex built in 1925
- Two residences arranged on separate floors
- Each unit includes 3 bedrooms
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
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 - Separate-floor residences offer three-bedroom layouts, outdoor space, and off-street parking for occupants or tenants.
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: 2,743‑square‑foot duplex built in 1925; Two residences arranged on separate floors; Each unit includes 3 bedrooms
