Remodeled Two-Family
For Sale
$349,900
56 Bond Street, Hartford, CT 06114
Two three-bedroom units include an updated first-floor residence, off-street parking, and a tenant-occupied upper apartment.
Property Size1,890 SF
Price / SF$180.92
Days on Market9
Property Features for 56 Bond Street
General Information
Standard status
Active
Size
1,890 SF
Property subtype
2 Family
Building Details
Building Size
1,890 SF
Year Built
1890
Buildings
1
Tenancy
Multi
Listing Agency:
Maple Vale Realty LLC
(203) 400-9924
Listed By:
Edgar Ramirez · License #RES.0817422
(203) 400-9924
Source:
Iverty
Added: Jul 31
Changed: Aug 3
Last Checked: Aug 7 at 1:26AM
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 Maple Vale Realty LLC
Investment Insights
Based on property information with market context.
Located at 56 Bond Street in Hartford, this two-family property was built in 1890 and includes two three-bedroom residences. The first-floor unit has been remodeled, while the second-floor apartment is occupied by a tenant. A newer roof and extended driveway add practical value to the property, with off-street parking available on site.
The layout can accommodate an owner-occupant living in one apartment while retaining a separate residential unit, or an investor holding both units as rental housing. The property is near shopping, dining, local amenities, and transportation. The upper apartment currently produces rental income, with the monthly amount omitted from this listing copy.
The layout can accommodate an owner-occupant living in one apartment while retaining a separate residential unit, or an investor holding both units as rental housing. The property is near shopping, dining, local amenities, and transportation. The upper apartment currently produces rental income, with the monthly amount omitted from this listing copy.
Key Highlights
- Two‑family property at 56 Bond Street, Hartford, CT 06114
- Two 3‑bedroom residential units
- Remodeled first‑floor apartment
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
$28,398
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
8.12%
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%
$567,960
$568.0K
Cap Rate 7%
$405,686
$405.7K
Cap Rate 9%
$315,533
$315.5K
Market Conditions
NOI Build-Up for 1,934 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
$42.9K $22.20/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$40.6K $20.98/SF
− OpEx
−$12.2K −$6.29/SF
NOI
$28.4K $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%
$567,960
Cap Rate 7%
$405,686
Cap Rate 9%
$315,533
Alternative Uses
Best Use
Multifamily LT 5
$405.7K
$355.0K – $473.3K
NOI $28,398 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$372.7K
$326.2K – $434.9K
NOI $26,092 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$576.5K
$504.4K – $672.6K
NOI $40,353 @ 7.0% cap · market cap 11.53%
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
1,631
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 - Two three-bedroom units include an updated first-floor residence, off-street parking, and a tenant-occupied upper apartment.
Where is this duplex located?
The property is located at 56 Bond Street Hartford, CT.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑family property at 56 Bond Street, Hartford, CT 06114; Two 3‑bedroom residential units; Remodeled first‑floor apartment
