Duplex with Detached
For Sale
$935,000
355 Hope St, Stamford, CT 06906
Two updated-ready residential units offer separate utilities, generous parking, and additional detached garage storage.
Property Size2,888 SF
Price / SF$323.75
Days on Market64
Property Features for 355 Hope St
General Information
Standard status
Active
Size
2,888 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
needs interior updates
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
garage
loft
Building Details
Year Built
1920
Buildings
2
Listing Agency:
William Pitt Sotheby's Int'l
(203) 249-4585
Listed By:
Ed Villeda (203) 249-4585 (203) 968-1500
Source:
Sunsetcreekrealty
Added: Jun 29
Changed: Aug 29
Last Checked: Aug 30 at 5:56PM
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.
Built in 1920, this 2,888-square-foot duplex contains two 3-bedroom residential units, each served by separate utilities. The interior requires updates, providing a renovation opportunity within an existing two-family layout.
The property includes an oversized lot with abundant parking and a detached 3-car garage featuring a full walk-up loft. The garage adds substantial storage capacity for personal use or contractor storage. Glenbrook train station is nearby, placing the property within an established commuter-oriented setting.
The property includes an oversized lot with abundant parking and a detached 3-car garage featuring a full walk-up loft. The garage adds substantial storage capacity for personal use or contractor storage. Glenbrook train station is nearby, placing the property within an established commuter-oriented setting.
Key Highlights
- Two 3‑bedroom units within a 2,888‑square‑foot duplex
- Separate utilities serving each residential unit
- Detached 3‑car garage with full walk‑up loft
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 - Two updated-ready residential units offer separate utilities, generous parking, and additional detached garage storage.
Where is this duplex located?
The property is located at 355 Hope St 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 3‑bedroom units within a 2,888‑square‑foot duplex; Separate utilities serving each residential unit; Detached 3‑car garage with full walk‑up loft
