Building Details

Building Size 1,965 SF

Year Built 1965

Listing Agency: Coldwell Banker Realty B***@cbrealty.com Show Phone

Listed By: Susan Morelli · License #RES.0479120 Show Phone

Source: Iverty

Added: Aug 19 Changed: Oct 16 Last Checked: Oct 16 at 8:34AM

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Investment Insights

Based on property information with market context.

Located at 29 Cowan Ave in Stamford, Connecticut, this duplex is configured as a two-family residential property. The building was constructed in 1965 and has remained with its original owners. Its location provides access to I-95 and the Merritt Parkway, with shopping, transportation, and town-center services nearby.

The property is also close to Tully Center health facilities. Walk Score is 80, Bike Score is 61, and Transit Score is 52, reflecting walkable access and available bicycle and transit connections in the surrounding area.

Key Highlights

• Two‑family duplex at 29 Cowan Ave, Stamford, CT 06906
• Constructed in 1965 and held by the original owners
• Convenient access to I‑95 and the Merritt Parkway

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,841

Cap Rate

5.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,096,820 $1.1M

Cap Rate 7%

$783,443 $783.4K

Cap Rate 9%

$609,344 $609.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,850 SF

Gross rent

$83.8K $29.40/SF

− Vacancy

−$5.4K −$1.91/SF

EGI

$78.3K $27.49/SF

− OpEx

−$23.5K −$8.25/SF

NOI

$54.8K $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 Rate 5%

$1,096,820

Cap Rate 7%

$783,443

Cap Rate 9%

$609,344

Alternative Uses

Best Use

Multifamily LT 5

$783.4K

$685.5K – $914.0K (±1% cap)

NOI $54,841 @ 7.0% cap · market cap 5.55%

Second Best

Apartment 5plus

$700.7K

$613.1K – $817.5K (±1% cap)

NOI $49,050 @ 7.0% cap · market cap 4.96%

Theoretical Best

Office A

$1.03M

$901.7K – $1.20M (±1% cap)

NOI $72,134 @ 7.0% cap · market cap 7.29%

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 Locksmith Fish Market Tanning Salon Pet Grooming Service Bed & Breakfast Veterinary Clinic

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

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,679

Businesses Nearby

Explore this area Business Placement

Demographics for 06906, CT

9,902

Population

3,727

Households

2.7

Avg Household Size

38

Median Age

47%

College-Educated

80%

High-School Grad

1.3 sq mi

ZIP Area

7,617

Density / Sq Mi

$91,710

Median Household Income

$45,518

Median Earnings

$2,207

Median Rent

$576,200

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 - Residential income property near I-95, the Merritt Parkway, shopping, transportation, and town-center amenities.

Where is this duplex located?

The property is located at 29 Cowan Stamford, CT.

What is the asking price?

The asking price for this property is $989,000.

What are key features of this property?

This property features: Two‑family duplex at 29 Cowan Ave, Stamford, CT 06906; Constructed in 1965 and held by the original owners; Convenient access to I‑95 and the Merritt Parkway