Two-Family Residential Income
For Sale
$950,000
Pending
32 Hackett Circle North, Stamford, CT 06906
Well-maintained two-family home with separate utilities, central air, and in-unit laundry in each unit.
Property Size2,210 SF
Days on Market60
Property Features for 32 Hackett Circle North
General Information
Standard status
Pending
Size
2,210 SF
Property subtype
2 Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
central air conditioning
in-unit washer and dryer
separately metered utilities
hardwood floors
updated kitchens
covered porch
workshop
off-street parking
level yard
Building Details
Year Built
1967
Tenancy
Multi
Listing Agency:
Keller Williams Prestige Prop.
Listed By:
Aaron Ramkalawan
(917) 207-4306
Source:
Lockandkeyre
Added: Jul 6
Changed: Aug 15
Last Checked: Aug 14 at 6:31AM
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 Keller Williams Prestige Prop.
Investment Insights
Based on property information with market context.
This two-family residential income property is well-maintained and configured with two separate units. Each unit includes a bright living/family room, a large eat-in kitchen, three bedrooms, and a full bath. Both units feature central air conditioning and in-unit washer and dryer, with separately metered gas and electric utilities for each unit.
The first-floor unit offers refinished hardwood floors and an updated eat-in kitchen with direct access to a covered rear porch. The second-floor unit includes hardwood flooring, a renovated kitchen, an oversized primary bedroom, and excellent storage. A full basement provides separate storage areas, workshop space, and additional utility access.
Outside, the property includes off-street parking and a level yard. It is located within walking distance of Downtown Stamford restaurants, shops, entertainment, parks, and the Metro-North train station, with quick access to I-95.
The first-floor unit offers refinished hardwood floors and an updated eat-in kitchen with direct access to a covered rear porch. The second-floor unit includes hardwood flooring, a renovated kitchen, an oversized primary bedroom, and excellent storage. A full basement provides separate storage areas, workshop space, and additional utility access.
Outside, the property includes off-street parking and a level yard. It is located within walking distance of Downtown Stamford restaurants, shops, entertainment, parks, and the Metro-North train station, with quick access to I-95.
Key Highlights
- Well‑maintained 2‑family home built in 1967, offering flexible owner‑occupant or investment living.
- Each unit features an approx. 1,200+ sq. ft. layout with 3 bedrooms, a full bath, and a bright living/family room.
- In‑unit laundry and central air in both units, with separately metered gas and electric utilities.
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
$42,525
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
4.48%
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%
$850,500
$850.5K
Cap Rate 7%
$607,500
$607.5K
Cap Rate 9%
$472,500
$472.5K
Market Conditions
NOI Build-Up for 2,210 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
$65.0K $29.40/SF
− Vacancy
−$4.2K −$1.91/SF
EGI
$60.8K $27.49/SF
− OpEx
−$18.2K −$8.25/SF
NOI
$42.5K $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 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%
$850,500
Cap Rate 7%
$607,500
Cap Rate 9%
$472,500
Alternative Uses
Best Use
Multifamily LT 5
$607.5K
$531.6K – $708.8K
NOI $42,525 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$543.4K
$475.4K – $633.9K
NOI $38,035 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$799.1K
$699.2K – $932.3K
NOI $55,936 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,588
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home with separate utilities, central air, and in-unit laundry in each unit.
Where is this duplex located?
The property is located at 32 Hackett Circle North Stamford, CT.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Well‑maintained 2‑family home built in 1967, offering flexible owner‑occupant or investment living.; Each unit features an approx. 1,200+ sq. ft. layout with 3 bedrooms, a full bath, and a bright living/family room.; In‑unit laundry and central air in both units, with separately metered gas and electric utilities.
