Two-Unit Residential Income
For Sale
$935,000
355 Hope Street, Stamford, CT 06906
A two-family home with two 3-bedroom units, separate utilities, and an oversized lot with abundant parking.
Property Size2,888 SF
Days on Market56
Property Features for 355 Hope Street
General Information
Standard status
Active
Size
2,888 SF
Total Parking Spaces
10
Property subtype
Multi Family Home
Zoning
R6
Net Operating Income
$38,824
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,574
Building Details
Building Size
2,888 SF
Year Built
1920
Units
2
Listing Agency:
William Pitt Sotheby's Int'l
(203) 249-4585
Listed By:
Ed Villeda
(203) 249-4585
Source:
Westshorerealty
Added: Jul 1
Changed: Aug 24
Last Checked: Aug 20 at 7:40AM
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 William Pitt Sotheby's Int'l
Investment Insights
Based on property information with market context.
This two-family duplex features two large 3-bedroom units with separate utilities. The property is set on an oversized lot with abundant parking and includes a detached 3-car garage with a full walk-up loft, which can support additional storage or flex use. The house needs interior updates, providing an opportunity to renovate and improve the property’s overall condition.
The home is located at 355 Hope Street in Stamford, CT, near the Glenbrook train station, supporting convenient commuter access.
The existing layout provides independent unit living and the option to make use of the attached detached garage loft area, while the exterior parking and detached structure add practicality for daily operations and tenants.
The home is located at 355 Hope Street in Stamford, CT, near the Glenbrook train station, supporting convenient commuter access.
The existing layout provides independent unit living and the option to make use of the attached detached garage loft area, while the exterior parking and detached structure add practicality for daily operations and tenants.
Key Highlights
- Two‑family home built in 1920 with two large 3‑bedroom units
- Separate utilities for each unit
- Rental income listed as $2,000/mo for the first floor and $2,500/mo for the second floor
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
$55,572
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
5.94%
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%
$1,111,440
$1.1M
Cap Rate 7%
$793,886
$793.9K
Cap Rate 9%
$617,467
$617.5K
Market Conditions
NOI Build-Up for 2,888 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
$84.9K $29.40/SF
− Vacancy
−$5.5K −$1.91/SF
EGI
$79.4K $27.49/SF
− OpEx
−$23.8K −$8.25/SF
NOI
$55.6K $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%
$1,111,440
Cap Rate 7%
$793,886
Cap Rate 9%
$617,467
Alternative Uses
Best Use
Multifamily LT 5
$793.9K
$694.7K – $926.2K
NOI $55,572 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$710.1K
$621.3K – $828.4K
NOI $49,704 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$1.04M
$913.7K – $1.22M
NOI $73,096 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,379
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 - A two-family home with two 3-bedroom units, separate utilities, and an oversized lot with abundant parking.
Where is this duplex located?
The property is located at 355 Hope Street Stamford, CT.
What is the asking price?
The asking price for this property is $935,000.
What are key features of this property?
This property features: Two‑family home built in 1920 with two large 3‑bedroom units; Separate utilities for each unit; Rental income listed as $2,000/mo for the first floor and $2,500/mo for the second floor
