Duplex with Two-Car
New
For Sale
$788,800
60 Stephen Street, Stamford, CT 06902
Multi-Family For Sale, Units on different Floors, Stamford, CT
Property Size2,408 SF
Lot Size0.10 Acres
Price / SF$327.57
Days on Market1
Property Features for 60 Stephen Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
7
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 7, Bedroom 6, Basement, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 3
Parking
4
Basement
Full
Lot features
City Views
Elementary school
Stillmeadow
High school
Westhill
Directions
Off W. Broad St. Walking Distance from Downtown Macy, Target, U Conn, Hospital. Google GPS.
Subdivision
West Side
Standard status
Active
Size
2,408 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9319
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1925
Architectural style
Other
Listing Agency:
BHGRE Shore & Country
(203) 504-5005
Listed By:
Mei Ling Cheung · License #RES.0800750
(914) 752-8788
Added: Sep 4
Last Checked: Sep 4 at 1:06PM
MLS# 24204563
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 2,408-square-foot duplex occupies a 0.1-acre parcel and dates to 1925. The property includes one residence on the first floor and a second residence across the upper floors, with kitchens and living areas serving each unit. Interior improvements include quartz kitchen countertops, newer appliances, gas cooking, and hot-water heat. Separate utilities are supported by an updated 200-amp electrical service, three electric meters, and two gas meters.
A newer roof, approximately 3 years old, adds to the recent property improvements. Parking includes a two-car garage and additional off-street spaces. Public water and public sewer serve the building. The property is within walking distance of downtown, the train station, a bus line, UConn, shopping, parks, and restaurants. Tenant-paid utilities support separate operating arrangements for the residences.
A newer roof, approximately 3 years old, adds to the recent property improvements. Parking includes a two-car garage and additional off-street spaces. Public water and public sewer serve the building. The property is within walking distance of downtown, the train station, a bus line, UConn, shopping, parks, and restaurants. Tenant-paid utilities support separate operating arrangements for the residences.
Key Highlights
- 2,408 SF duplex on a 0.1‑acre lot
- R5 zoning with two residential units
- Updated 200‑amp service, 3 electric meters, and 2 gas meters
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
$46,335
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
5.87%
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%
$926,700
$926.7K
Cap Rate 7%
$661,929
$661.9K
Cap Rate 9%
$514,833
$514.8K
Market Conditions
NOI Build-Up for 2,408 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
$70.8K $29.40/SF
− Vacancy
−$4.6K −$1.91/SF
EGI
$66.2K $27.49/SF
− OpEx
−$19.9K −$8.25/SF
NOI
$46.3K $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%
$926,700
Cap Rate 7%
$661,929
Cap Rate 9%
$514,833
Alternative Uses
Best Use
Multifamily LT 5
$661.9K
$579.2K – $772.3K
NOI $46,335 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$592.0K
$518.0K – $690.7K
NOI $41,443 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$870.7K
$761.8K – $1.02M
NOI $60,947 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,122
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 have separate utilities and updated electrical service.
Where is this duplex located?
The property is located at 60 Stephen Street Stamford, CT.
What is the asking price?
The asking price for this property is $788,800.
What are key features of this property?
This property features: 2,408 SF duplex on a 0.1‑acre lot; R5 zoning with two residential units; Updated 200‑amp service, 3 electric meters, and 2 gas meters
