Two-Unit Residential Income
For Sale
$365,000
Pending
65-67 Larrabee Street, East Hartford, CT 06108
Two-unit residence with fenced yard, two-car paved driveway, newer energy-saving windows, and dual laundry stations.
Property Size2,244 SF
Days on Market57
Property Features for 65-67 Larrabee Street
General Information
Standard status
Pending
Size
2,244 SF
Total Parking Spaces
2
Property subtype
2 Family
Additional Details
Fenced Yard
Yes
Building Details
Year Built
1885
Tenancy
Multi
Listing Agency:
Beycome of Connecticut
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
(804) 656-5007
Source:
Lockandkeyre
Added: Jun 17
Changed: Aug 8
Last Checked: Jul 23 at 5:45AM
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 Beycome of Connecticut
Investment Insights
Based on property information with market context.
This two-unit residential income property features a versatile multi-family layout with two separate living arrangements. Exterior improvements include a large fenced-in yard and a paved two-car wide driveway for convenient off-street parking. The home also benefits from newer energy-saving windows, updated gutters, and dual laundry stations to support separate household needs.
Located at 65-67 Larrabee Street in East Hartford, this property is positioned for straightforward access by vehicle. The combination of an enclosed outdoor area and dedicated driveway space can be helpful for tenant day-to-day routines.
For buyers considering an owner-occupied setup or adding rental units, the property’s dual laundry capacity and separate unit configuration provide practical functionality. The fenced yard and off-street parking add everyday value, while the listed exterior upgrades and energy-saving windows support long-term maintainability considerations. Owner-occupied by the agent.
Located at 65-67 Larrabee Street in East Hartford, this property is positioned for straightforward access by vehicle. The combination of an enclosed outdoor area and dedicated driveway space can be helpful for tenant day-to-day routines.
For buyers considering an owner-occupied setup or adding rental units, the property’s dual laundry capacity and separate unit configuration provide practical functionality. The fenced yard and off-street parking add everyday value, while the listed exterior upgrades and energy-saving windows support long-term maintainability considerations. Owner-occupied by the agent.
Key Highlights
- Two‑unit residence at 65‑67 Larrabee St., East Hartford, CT (built 1885)
- Large fenced‑in yard
- Paved two‑car wide driveway
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
$32,950
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
9.03%
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%
$659,000
$659.0K
Cap Rate 7%
$470,714
$470.7K
Cap Rate 9%
$366,111
$366.1K
Market Conditions
NOI Build-Up for 2,244 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
$49.8K $22.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$47.1K $20.98/SF
− OpEx
−$14.1K −$6.29/SF
NOI
$33.0K $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%
$659,000
Cap Rate 7%
$470,714
Cap Rate 9%
$366,111
Alternative Uses
Best Use
Multifamily LT 5
$470.7K
$411.9K – $549.2K
NOI $32,950 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$432.5K
$378.4K – $504.6K
NOI $30,275 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$668.9K
$585.3K – $780.4K
NOI $46,821 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 06108, CT
24,201
Population
9,963
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
85%
High-School Grad
8.1 sq mi
ZIP Area
2,988
Density / Sq Mi
$55,766
Median Household Income
$35,801
Median Earnings
$1,161
Median Rent
$218,800
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-unit residence with fenced yard, two-car paved driveway, newer energy-saving windows, and dual laundry stations.
Where is this duplex located?
The property is located at 65-67 Larrabee Street East Hartford, CT.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two‑unit residence at 65‑67 Larrabee St., East Hartford, CT (built 1885); Large fenced‑in yard; Paved two‑car wide driveway
