Duplex with Private
New
For Sale
$679,000
29 Madison Pl, Stamford, CT 06902
Two separate living spaces include distinct kitchens, and each unit has its own outdoor deck.
Property Size1,982 SF
Days on Market4
Property Features for 29 Madison Pl
General Information
Standard status
Active
Size
1,982 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
hardwood floors
wall-mounted A/C units
partially finished lower level
washer/dryer hookup
LVP flooring
private decks
solar panels
paved driveway
full attic
Building Details
Building Size
1,982 SF
Year Built
1942
Buildings
1
Listing Agency:
RE/MAX HERITAGE (WESTPORT)
Listed By:
Lisa Nuzzo
(203) 856-2731
Source:
Elliman
Added: Oct 16
Last Checked: Oct 16 at 2:16PM
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 RE/MAX HERITAGE (WESTPORT)
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Investment Insights
Based on property information with market context.
At 29 Madison Place, this 1942 duplex contains two residences with separate kitchens and living areas. The first-floor unit has a bedroom, full bathroom, hardwood floors, and an eat-in kitchen. It also connects to a partially finished lower level with additional usable space, a full bathroom, and a kitchenette. Wall-mounted air-conditioning units serve this residence.
The second-floor unit has two bedrooms, a full bathroom, an eat-in kitchen, a living room, and LVP flooring. Washer and dryer hookups are provided, with access to a full attic. Both units have private decks.
Property updates include a 2019 roof, a 2017 hot water heater, and a newly paved driveway. Heating is provided by natural gas, and the solar panels transfer with the property without a transfer fee.
The second-floor unit has two bedrooms, a full bathroom, an eat-in kitchen, a living room, and LVP flooring. Washer and dryer hookups are provided, with access to a full attic. Both units have private decks.
Property updates include a 2019 roof, a 2017 hot water heater, and a newly paved driveway. Heating is provided by natural gas, and the solar panels transfer with the property without a transfer fee.
Key Highlights
- Two‑unit duplex with a private deck for each residence
- First‑floor unit includes a bedroom, hardwood floors, and access to a lower level with a bathroom and kitchenette
- Second‑floor unit has two bedrooms, washer/dryer hookup, and access to a full attic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,138
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$762,760
$762.8K
Cap Rate 7%
$544,829
$544.8K
Cap Rate 9%
$423,756
$423.8K
Market Conditions
NOI Build-Up for 1,982 SF
Gross rent
$58.3K $29.40/SF
− Vacancy
−$3.8K −$1.91/SF
EGI
$54.5K $27.49/SF
− OpEx
−$16.3K −$8.25/SF
NOI
$38.1K $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%
$762,760
Cap Rate 7%
$544,829
Cap Rate 9%
$423,756
Alternative Uses
Best Use
Multifamily LT 5
$544.8K
$476.7K – $635.6K
NOI $38,138 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$487.3K
$426.4K – $568.5K
NOI $34,111 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$716.6K
$627.1K – $836.1K
NOI $50,165 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,041
Businesses Nearby
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Business Placement
Demographics for 06902, CT
69,192
Population
30,142
Households
2.3
Avg Household Size
36
Median Age
44%
College-Educated
85%
High-School Grad
10.0 sq mi
ZIP Area
6,919
Density / Sq Mi
$92,527
Median Household Income
$48,285
Median Earnings
$2,139
Median Rent
$515,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate living spaces include distinct kitchens, and each unit has its own outdoor deck.
Where is this duplex located?
The property is located at 29 Madison Pl Stamford, CT.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Two‑unit duplex with a private deck for each residence; First‑floor unit includes a bedroom, hardwood floors, and access to a lower level with a bathroom and kitchenette; Second‑floor unit has two bedrooms, washer/dryer hookup, and access to a full attic
