Side-by-Side Duplex with
New
For Sale
$975,000
511-513 S Fairfield Ave S, Stamford, CT 06902
Two residential units provide three bedrooms, laundry hookups, and a partially finished basement in one unit.
Property Size3,200 SF
Lot Size0.24 Acres
Price / SF$304.69
Days on Market3
Property Features for 511-513 S Fairfield Ave S
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
2
Lot size
0.24 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Amenities
washer/dryer hookups
Building Details
Building Size
3,200 SF
Year Built
1920
Listing Agency:
(203) 943-9035
Listed By:
Jonas Thomas
(203) 943-9035
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 14 at 8:07AM
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 Jonas Thomas
Investment Insights
Based on property information with market context.
This 1920-built duplex contains 3,200 square feet arranged as two side-by-side residential units. Each unit has three bedrooms, one full bath, and one half bath. The left-side unit includes a partially finished basement, while both units have washer and dryer hookups. A detached two-car garage is also included, and the property is offered in as-is condition.
The property occupies a .24-acre lot at 511-513 S Fairfield Ave S in Stamford. The location provides access to highways, trains, beaches, shopping centers, restaurants, and downtown Stamford. The existing structure presents a two-unit layout with garage space and basement utility that can support renovation planning.
The property occupies a .24-acre lot at 511-513 S Fairfield Ave S in Stamford. The location provides access to highways, trains, beaches, shopping centers, restaurants, and downtown Stamford. The existing structure presents a two-unit layout with garage space and basement utility that can support renovation planning.
Key Highlights
- Two side‑by‑side units, each with 3 bedrooms, 1 full bath, and 1 half bath
- 3,200 square feet on a .24‑acre lot
- Detached 2‑car garage
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
$61,575
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
6.32%
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%
$1,231,500
$1.2M
Cap Rate 7%
$879,643
$879.6K
Cap Rate 9%
$684,167
$684.2K
Market Conditions
NOI Build-Up for 3,200 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
$94.1K $29.40/SF
− Vacancy
−$6.1K −$1.91/SF
EGI
$88.0K $27.49/SF
− OpEx
−$26.4K −$8.25/SF
NOI
$61.6K $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%
$1,231,500
Cap Rate 7%
$879,643
Cap Rate 9%
$684,167
Alternative Uses
Best Use
Multifamily LT 5
$879.6K
$769.7K – $1.03M
NOI $61,575 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$786.8K
$688.4K – $917.9K
NOI $55,073 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,993 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,136
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
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 residential units provide three bedrooms, laundry hookups, and a partially finished basement in one unit.
Where is this duplex located?
The property is located at 511-513 S Fairfield Ave S Stamford, CT.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 3 bedrooms, 1 full bath, and 1 half bath; 3,200 square feet on a .24‑acre lot; Detached 2‑car garage
