Remodeled Duplex with Three-Car
New
For Sale
$699,900
Pending
47 Kingswood Rd, West Hartford, CT 06119
Updated two-family property with separate utilities, central air, flexible upper-level living space, and dedicated garage parking.
Property Size2,731 SF
Days on Market2
Property Features for 47 Kingswood Rd
General Information
Standard status
Pending
Size
2,731 SF
Total Parking Spaces
3
Property subtype
Multi Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Amenities
central air
paver patio
Building Details
Building Size
2,731 SF
Year Built
1830
Year Renovated
2016
Listing Agency:
(860) 416-3599
Listed By:
Benjamin Hale · License #REB.0791910
(860) 416-3599
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:01AM
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 Benjamin Hale
Investment Insights
Based on property information with market context.
This two-family property was remodeled in 2016 and includes updated kitchens and bathrooms, hardwood flooring, central air, separate utilities, and newer hot water heaters installed in 2017 and 2019. The first-floor residence contains 2 bedrooms and 1 bathroom and is leased through June 2028. The upper residence is vacant, arranged across two floors with 3 bedrooms, 2 full bathrooms, and a third-floor living area, bedroom, and full bathroom that can accommodate office, guest, or lounge space.
A detached three-car garage provides substantial parking and additional rental potential. The property also includes a flat lawn and paver patio. Located on Kingswood Road in West Hartford, the duplex is minutes from West Hartford Center, Blue Back Square, Whole Foods, shops, and restaurants. Walk Score is 73, Bike Score is 64, and Transit Score is 58. The property was built in 1830.
A detached three-car garage provides substantial parking and additional rental potential. The property also includes a flat lawn and paver patio. Located on Kingswood Road in West Hartford, the duplex is minutes from West Hartford Center, Blue Back Square, Whole Foods, shops, and restaurants. Walk Score is 73, Bike Score is 64, and Transit Score is 58. The property was built in 1830.
Key Highlights
- Two‑family property remodeled in 2016 with updated kitchens, baths, hardwood floors, and central air
- First‑floor 2‑bedroom, 1‑bath unit leased through June 2028
- Vacant upper unit offers 3 bedrooms, 2 full baths, and two‑floor living space
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
$40,101
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
5.73%
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%
$802,020
$802.0K
Cap Rate 7%
$572,871
$572.9K
Cap Rate 9%
$445,567
$445.6K
Market Conditions
NOI Build-Up for 2,731 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
$60.6K $22.20/SF
− Vacancy
−$3.3K −$1.22/SF
EGI
$57.3K $20.98/SF
− OpEx
−$17.2K −$6.29/SF
NOI
$40.1K $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%
$802,020
Cap Rate 7%
$572,871
Cap Rate 9%
$445,567
Alternative Uses
Best Use
Multifamily LT 5
$572.9K
$501.3K – $668.4K
NOI $40,101 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$526.4K
$460.6K – $614.1K
NOI $36,845 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$814.0K
$712.3K – $949.7K
NOI $56,982 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,185
Businesses Nearby
Explore this area
Business Placement
Demographics for 06119, CT
14,843
Population
7,206
Households
2.1
Avg Household Size
37
Median Age
68%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
7,068
Density / Sq Mi
$105,522
Median Household Income
$63,122
Median Earnings
$1,646
Median Rent
$361,700
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 - Updated two-family property with separate utilities, central air, flexible upper-level living space, and dedicated garage parking.
Where is this duplex located?
The property is located at 47 Kingswood Rd West Hartford, CT.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two‑family property remodeled in 2016 with updated kitchens, baths, hardwood floors, and central air; First‑floor 2‑bedroom, 1‑bath unit leased through June 2028; Vacant upper unit offers 3 bedrooms, 2 full baths, and two‑floor living space
