Multifamily Property with
For Sale
$985,000
34 Raymond Street, Stamford, CT 06902
MULTI_FAMILY - Stamford, CT
Property Size3,044 SF
Lot Size0.09 Acres
Price / SF$323.59
Days on Market65
Property Features for 34 Raymond Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 3, Basement
Fireplace
1
Basement
Partial
Lot features
On Cul- De- Sac
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Cove Road to Raymond Street
Subdivision
Cove
Standard status
Active
Size
3,044 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10074
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1958
Architectural style
Other
Listing Agency:
William Pitt Sotheby's Int'l · Sotheby's International Realty
(203) 968-1500
Listed By:
Wende Foreman
(203) 981-4550
Added: Jun 12
Changed: Aug 9
Last Checked: Aug 15 at 10:06AM
MLS# 24183476
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Multifamily property at 34 Raymond Street in Stamford, Connecticut with a 0.09-acre lot and 3,044 SF building area. Built in 1958, the home includes Hot Water (Heating) and features a fireplace. Water service is public and sewer service is public sewer.
Interior room inventory includes a basement, four bedrooms (Bedroom 1 through Bedroom 4), and three bathrooms (Bathroom 1 through Bathroom 3).
Interior room inventory includes a basement, four bedrooms (Bedroom 1 through Bedroom 4), and three bathrooms (Bathroom 1 through Bathroom 3).
Key Highlights
- 0.09‑acre lot
- 3,044 SF building area
- Zoned R5
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
$52,389
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
5.32%
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%
$1,047,780
$1.0M
Cap Rate 7%
$748,414
$748.4K
Cap Rate 9%
$582,100
$582.1K
Market Conditions
NOI Build-Up for 3,044 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
$101.5K $33.36/SF
− Vacancy
−$6.3K −$2.07/SF
EGI
$95.3K $31.29/SF
− OpEx
−$42.9K −$14.08/SF
NOI
$52.4K $17.21/SF
Area
Stamford, CT
Vacancy
6.20%
Lease Rate
$33.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,047,780
Cap Rate 7%
$748,414
Cap Rate 9%
$582,100
Alternative Uses
Best Use
Apartment 5plus
$748.4K
$654.9K – $873.2K
NOI $52,389 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$963.1K – $1.28M
NOI $77,044 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,548
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - R5-zoned multifamily property with hot water heating, fireplace, and public water and sewer service.
Where is this multifamily property located?
The property is located at 34 Raymond Street Stamford, CT.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 0.09‑acre lot; 3,044 SF building area; Zoned R5
