Multifamily Property with Private
New
For Sale
$1,500,000
51 Brown Avenue, Stamford, CT 06902
Residential units are arranged across different floors and in a side-by-side configuration.
Property Size3,342 SF
Price / SF$448.83
Days on Market5
Property Features for 51 Brown Avenue
General Information
Standard status
Active
Size
3,342 SF
Total Parking Spaces
14
Property subtype
Residential Income
Zoning
RMF
Taxes and HOA fees
Annual Taxes
$11,573
Amenities
Window Unit(s)
Full, Walk-Out Access, Unfinished
Off Street, Private, Driveway
Units on different Floors, Units are Side-by-Side
Building Details
Building Size
3,342 SF
Year Built
1913
Listed By:
Farid Ahmed
(203) 252-4361
Source:
Evrealestate
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 4 at 9:24AM
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 Farid Ahmed
Investment Insights
Based on property information with market context.
Built in 1913, this 3,342-square-foot multifamily property has units arranged on different floors and side by side. Interior features include window unit(s) and a full, walk-out basement with unfinished space. RMF zoning is noted for the property.
The property is at 51 Brown Avenue in Stamford, Fairfield County. Off-street parking is available by private driveway.
The property is at 51 Brown Avenue in Stamford, Fairfield County. Off-street parking is available by private driveway.
Key Highlights
- 3,342 square feet of multifamily space
- Built in 1913
- RMF zoning
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
$57,517
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
3.83%
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%
$1,150,340
$1.2M
Cap Rate 7%
$821,671
$821.7K
Cap Rate 9%
$639,078
$639.1K
Market Conditions
NOI Build-Up for 3,342 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
$111.5K $33.36/SF
− Vacancy
−$6.9K −$2.07/SF
EGI
$104.6K $31.29/SF
− OpEx
−$47.1K −$14.08/SF
NOI
$57.5K $17.21/SF
Area
Stamford, CT
Vacancy
6.20%
Lease Rate
$33.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,150,340
Cap Rate 7%
$821,671
Cap Rate 9%
$639,078
Alternative Uses
Best Use
Apartment 5plus
$821.7K
$719.0K – $958.6K
NOI $57,517 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,587 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,187
Businesses Nearby
Explore this area
Business Placement
Demographics for 06902, CT
69,192
Population
30,142
Households
2.3
Avg Household Size
36
Median Age
44%
College-Educated
85%
High-School Grad
10.0 sq mi
ZIP Area
6,919
Density / Sq Mi
$92,527
Median Household Income
$48,285
Median Earnings
$2,139
Median Rent
$515,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Residential units are arranged across different floors and in a side-by-side configuration.
Where is this multifamily property located?
The property is located at 51 Brown Avenue Stamford, CT.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 3,342 square feet of multifamily space; Built in 1913; RMF zoning
