South End Multifamily
For Sale
$425,000
Pending
44-46 Eaton Street, Hartford, CT 06114
Well-maintained duplex with enclosed porches, eat-in kitchens, and a detached 2-car garage plus solar panels.
Property Size2,632 SF
Days on Market56
Property Features for 44-46 Eaton Street
General Information
Standard status
Pending
Size
2,632 SF
Total Parking Spaces
2
Property subtype
Multi-Family / 2 Family
Zoning
N3-2
Taxes and HOA fees
Annual Taxes
$6,738
Amenities
No
Hot Water
10
Ceiling Fans
Security System
Basement Hook-Up(s)
Not Applicable
Building Details
Year Built
1926
Stories
2
Tenancy
Multi
Listing Agency:
Francis Realty & Consulting
Listed By:
Chris Francis · License #RES.0830112
(860) 335-4791
Source:
Compass
Added: Jul 14
Changed: Aug 8
Last Checked: Jul 25 at 11:16AM
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 Francis Realty & Consulting
Investment Insights
Based on property information with market context.
This well-maintained multifamily residence offers versatile living space across two levels, with large living and dining areas and eat-in kitchens. Each level includes convenient layouts designed for functionality, and the property features an updated first-floor bathroom and first-floor laundry. Enclosed front porches are on both levels, and there is a rear balcony on the second floor. Additional improvements include a detached 2-car garage, solar panels, and a spacious backyard with room to create an outdoor setting.
The property is located in Hartford’s South End at 44–46 Eaton Street. It includes approximately 2,632 square feet above grade plus a 1,316 square foot basement.
As a duplex configuration, it provides multiple spaces within one property, supporting both owner-occupant and investment use as described in the remarks.
The property is located in Hartford’s South End at 44–46 Eaton Street. It includes approximately 2,632 square feet above grade plus a 1,316 square foot basement.
As a duplex configuration, it provides multiple spaces within one property, supporting both owner-occupant and investment use as described in the remarks.
Key Highlights
- Well‑maintained multifamily residence in Hartford’s South End built in 1926
- Approximately 2,632 sq ft above grade plus a 1,316 sq ft basement
- Updated first‑floor bathroom and first‑floor laundry
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
$38,648
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
9.09%
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%
$772,960
$773.0K
Cap Rate 7%
$552,114
$552.1K
Cap Rate 9%
$429,422
$429.4K
Market Conditions
NOI Build-Up for 2,632 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
$58.4K $22.20/SF
− Vacancy
−$3.2K −$1.22/SF
EGI
$55.2K $20.98/SF
− OpEx
−$16.6K −$6.29/SF
NOI
$38.6K $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%
$772,960
Cap Rate 7%
$552,114
Cap Rate 9%
$429,422
Alternative Uses
Best Use
Multifamily LT 5
$552.1K
$483.1K – $644.1K
NOI $38,648 @ 7.0% cap · market cap 9.09%
Second Best
Apartment 5plus
$507.3K
$443.9K – $591.8K
NOI $35,509 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$784.5K
$686.5K – $915.3K
NOI $54,917 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Explore this area
Business Placement
Demographics for 06114, CT
26,257
Population
11,206
Households
2.3
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
4.0 sq mi
ZIP Area
6,564
Density / Sq Mi
$47,905
Median Household Income
$31,996
Median Earnings
$1,296
Median Rent
$228,300
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 duplex with enclosed porches, eat-in kitchens, and a detached 2-car garage plus solar panels.
Where is this duplex located?
The property is located at 44-46 Eaton Street Hartford, CT.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Well‑maintained multifamily residence in Hartford’s South End built in 1926; Approximately 2,632 sq ft above grade plus a 1,316 sq ft basement; Updated first‑floor bathroom and first‑floor laundry
