Two-Unit Residential Income
For Sale
$375,000
55 Glendale Avenue, Hartford, CT 06106
Well-maintained two-family home with two 2-bedroom, 1-bath units and separate residential living space.
Property Size1,920 SF
Price / SF$266.34
Days on Market67
Property Features for 55 Glendale Avenue
General Information
Standard status
Active
Size
1,920 SF
Property subtype
2 Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Building Size
1,920 SF
Year Built
1920
Tenancy
Multi
Listing Agency:
Commercial Services Realty
Listed By:
Peter SN D'addeo
(860) 983-5146
Source:
Iverty
Added: Jul 1
Changed: Sep 4
Last Checked: Sep 5 at 6:47AM
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 Commercial Services Realty
Investment Insights
Based on property information with market context.
This well-maintained two-family residential property offers two separate units, each configured with 2 bedrooms and 1 bathroom. The building provides spacious living areas for day-to-day residential use and is positioned as a versatile option for either an investor seeking rental income or an owner-occupant looking to offset housing costs.
The property is described as being just minutes from Trinity College in Hartford, with easy access to downtown Hartford, public transportation, shopping, and major highways. It is located at 55 Glendale Avenue, Hartford, CT 06106.
Each unit is approximately 700+ square feet based on the information provided, supporting consistent layouts across the building.
The property is described as being just minutes from Trinity College in Hartford, with easy access to downtown Hartford, public transportation, shopping, and major highways. It is located at 55 Glendale Avenue, Hartford, CT 06106.
Each unit is approximately 700+ square feet based on the information provided, supporting consistent layouts across the building.
Key Highlights
- Well‑maintained two‑family home built in 1920
- Two spacious units, each with 2 bedrooms and 1 bathroom
- About 700+ sq ft of living space per unit
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
$20,675
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
5.51%
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%
$413,500
$413.5K
Cap Rate 7%
$295,357
$295.4K
Cap Rate 9%
$229,722
$229.7K
Market Conditions
NOI Build-Up for 1,408 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
$31.3K $22.20/SF
− Vacancy
−$1.7K −$1.22/SF
EGI
$29.5K $20.98/SF
− OpEx
−$8.9K −$6.29/SF
NOI
$20.7K $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%
$413,500
Cap Rate 7%
$295,357
Cap Rate 9%
$229,722
Alternative Uses
Best Use
Multifamily LT 5
$295.4K
$258.4K – $344.6K
NOI $20,675 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$271.4K
$237.5K – $316.6K
NOI $18,996 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$419.7K
$367.2K – $489.6K
NOI $29,378 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
Explore this area
Business Placement
Demographics for 06106, CT
38,036
Population
16,938
Households
2.2
Avg Household Size
33
Median Age
17%
College-Educated
70%
High-School Grad
4.2 sq mi
ZIP Area
9,056
Density / Sq Mi
$47,542
Median Household Income
$31,395
Median Earnings
$1,237
Median Rent
$201,600
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 two-family home with two 2-bedroom, 1-bath units and separate residential living space.
Where is this duplex located?
The property is located at 55 Glendale Avenue Hartford, CT.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Well‑maintained two‑family home built in 1920; Two spacious units, each with 2 bedrooms and 1 bathroom; About 700+ sq ft of living space per unit
