Two-Unit Duplex with Separate
New
For Sale
$429,900
43-45 Pine St, East Hartford, CT 06108
Each residence includes living space, attic bonus area, and a jack-and-jill bathroom.
Property Size2,455 SF
Days on Market4
Property Features for 43-45 Pine St
General Information
Standard status
Active
Size
2,455 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Building Size
2,455 SF
Year Built
1910
Listing Agency:
Marino Realty LLC
(860) 327-3402
Listed By:
Adrian Scarpa · License #RES.0807142
(860) 327-3402
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 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 Marino Realty LLC
Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains two separate residences, each arranged with three bedrooms and two full bathrooms. The unit layouts include living rooms and additional attic bonus space, while oversized primary bedrooms connect to jack-and-jill bathrooms. Separate utilities serve each side of the property.
The combined configuration provides 6 bedrooms and 4 full bathrooms. The property is located on Pine St in East Hartford, with a Walk Score of 53 and Bike Score of 47, both classified as somewhat walkable or somewhat bikeable.
The combined configuration provides 6 bedrooms and 4 full bathrooms. The property is located on Pine St in East Hartford, with a Walk Score of 53 and Bike Score of 47, both classified as somewhat walkable or somewhat bikeable.
Key Highlights
- Two‑unit duplex with 6 bedrooms and 4 full bathrooms
- Each unit includes 3 bedrooms and 2 full bathrooms
- Separate utilities serve both residences
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
$36,049
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
8.39%
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%
$720,980
$721.0K
Cap Rate 7%
$514,986
$515.0K
Cap Rate 9%
$400,544
$400.5K
Market Conditions
NOI Build-Up for 2,455 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
$54.5K $22.20/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$51.5K $20.98/SF
− OpEx
−$15.4K −$6.29/SF
NOI
$36.0K $14.68/SF
Area
Hartford, CT
Vacancy
5.51%
Lease Rate
$22.20 /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%
$720,980
Cap Rate 7%
$514,986
Cap Rate 9%
$400,544
Alternative Uses
Best Use
Multifamily LT 5
$515.0K
$450.6K – $600.8K
NOI $36,049 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$473.2K
$414.0K – $552.0K
NOI $33,121 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$731.8K
$640.3K – $853.7K
NOI $51,224 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 06108, CT
24,201
Population
9,963
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
85%
High-School Grad
8.1 sq mi
ZIP Area
2,988
Density / Sq Mi
$55,766
Median Household Income
$35,801
Median Earnings
$1,161
Median Rent
$218,800
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 - Each residence includes living space, attic bonus area, and a jack-and-jill bathroom.
Where is this duplex located?
The property is located at 43-45 Pine St East Hartford, CT.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Two‑unit duplex with 6 bedrooms and 4 full bathrooms; Each unit includes 3 bedrooms and 2 full bathrooms; Separate utilities serve both residences
