Building Details

Year Built 1925

Listing Agency: William Raveis Real Estate

Listed By: Ashley Henry · License #RES.0819783 Show Phone

Source: Compass

Added: Mar 13 Changed: Oct 11 Last Checked: Oct 16 at 11:18AM

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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.

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 / Yr

$40,278

Cap Rate

7.67%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$805,560 $805.6K

Cap Rate 7%

$575,400 $575.4K

Cap Rate 9%

$447,533 $447.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,743 SF

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 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 (±1% cap)

NOI $40,278 @ 7.0% cap · market cap 7.67%

Second Best

Apartment 5plus

$528.7K

$462.6K – $616.8K (±1% cap)

NOI $37,007 @ 7.0% cap · market cap 7.05%

Theoretical Best

Office A

$817.6K

$715.4K – $953.9K (±1% cap)

NOI $57,233 @ 7.0% cap · market cap 10.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Real Estate Agency (Bike/Boat/Book/etc) Store Storage Facility Parking Lot & Garage Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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