Two-Unit Duplex with
New
For Sale
$585,000
59 Horton Street, Stamford, CT 06902
Multi-Family For Sale, Units on different Floors, Stamford, CT
Property Size1,625 SF
Lot Size0.11 Acres
Price / SF$360
Days on Market4
Property Features for 59 Horton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 4
Basement
Full
Lot features
Corner Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Use GPS
Subdivision
Cove
Standard status
Active
Size
1,625 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9312
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1928
Architectural style
Other
Listing Agency:
RE/MAX Right Choice · RE/MAX International
(203) 614-8711
Listed By:
Chris Carozza · License #RES.0768259
(203) 912-6819
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 7:06AM
MLS# 24206466
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1928 duplex contains 1,625 square feet on a 0.11-acre lot, with one two-bedroom, one-bath unit on each floor. Separate gas and electric meters serve the units, while each has its own natural-gas furnace with baseboard heating. The property also includes a walkout basement and a one-car garage. Cooling is provided by window units, and the building connects to public water and public sewer.
Located at 59 Horton Street in Stamford’s Cove neighborhood, the property is near Cove Island Park, beaches, shopping, restaurants, downtown Stamford, Metro-North, and I-95. The second-floor water service is currently turned off and winterized. R5 zoning is included in the property information.
Located at 59 Horton Street in Stamford’s Cove neighborhood, the property is near Cove Island Park, beaches, shopping, restaurants, downtown Stamford, Metro-North, and I-95. The second-floor water service is currently turned off and winterized. R5 zoning is included in the property information.
Key Highlights
- Two‑floor duplex with two 2‑bedroom, 1‑bath units
- 1,625 square feet on a 0.11‑acre lot
- Separate gas and electric meters for each 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
$31,269
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
5.35%
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%
$625,380
$625.4K
Cap Rate 7%
$446,700
$446.7K
Cap Rate 9%
$347,433
$347.4K
Market Conditions
NOI Build-Up for 1,625 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
$47.8K $29.40/SF
− Vacancy
−$3.1K −$1.91/SF
EGI
$44.7K $27.49/SF
− OpEx
−$13.4K −$8.25/SF
NOI
$31.3K $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%
$625,380
Cap Rate 7%
$446,700
Cap Rate 9%
$347,433
Alternative Uses
Best Use
Multifamily LT 5
$446.7K
$390.9K – $521.2K
NOI $31,269 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$399.5K
$349.6K – $466.1K
NOI $27,967 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$587.6K
$514.1K – $685.5K
NOI $41,129 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
466
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Separate utilities, natural-gas baseboard heating, and a walkout basement add practical features for residential income use.
Where is this duplex located?
The property is located at 59 Horton Street Stamford, CT.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two‑floor duplex with two 2‑bedroom, 1‑bath units; 1,625 square feet on a 0.11‑acre lot; Separate gas and electric meters for each unit
