Two-Unit Duplex with
New
For Sale
$749,000
65 Roosevelt Avenue, Stamford, CT 06902
Two separately entered residences feature eat-in kitchens, covered decks, private rear-yard access, and off-street parking.
Property Size1,952 SF
Price / SF$379.82
Days on Market3
Property Features for 65 Roosevelt Avenue
General Information
Standard status
Active
Size
1,952 SF
Property subtype
2 Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
covered decks
carport
Building Details
Building Size
1,952 SF
Year Built
1952
Listing Agency:
William Pitt Sotheby's Int'l
Listed By:
Barbara Hickey · License #RES.0764883
(203) 912-0578
Source:
Iverty
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 9 at 2:04PM
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 William Pitt Sotheby's Int'l
Investment Insights
Based on property information with market context.
This 1952 duplex contains two two-bedroom, one-bath residences, each with its own front and rear entry. Both units offer spacious living rooms, eat-in kitchens, and kitchen access to covered decks leading toward the level rear yard. The first-floor unit includes a gas stove connection, while the second-floor unit has been occupied by the same tenant for 30+ years.
A full basement is accessed through a hatchway door. Building systems include baseboard and radiator heat served by one oil-fired boiler with two zones, one hot water heater, and two electrical meters. A gas line serves the first-floor unit. The property also includes a long rear driveway, carport, and off-street parking. Located at 65 Roosevelt Ave in Stamford, the property has a 96 Walk Score, 75 Bike Score, and 73 Transit Score.
A full basement is accessed through a hatchway door. Building systems include baseboard and radiator heat served by one oil-fired boiler with two zones, one hot water heater, and two electrical meters. A gas line serves the first-floor unit. The property also includes a long rear driveway, carport, and off-street parking. Located at 65 Roosevelt Ave in Stamford, the property has a 96 Walk Score, 75 Bike Score, and 73 Transit Score.
Key Highlights
- Two‑unit layout with two bedrooms and one bath in each residence
- Front and rear entrances serve both units
- Covered decks connect to the kitchens and lead toward a level rear yard
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
$37,946
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
5.07%
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%
$758,920
$758.9K
Cap Rate 7%
$542,086
$542.1K
Cap Rate 9%
$421,622
$421.6K
Market Conditions
NOI Build-Up for 1,972 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
$58.0K $29.40/SF
− Vacancy
−$3.8K −$1.91/SF
EGI
$54.2K $27.49/SF
− OpEx
−$16.3K −$8.25/SF
NOI
$37.9K $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%
$758,920
Cap Rate 7%
$542,086
Cap Rate 9%
$421,622
Alternative Uses
Best Use
Multifamily LT 5
$542.1K
$474.3K – $632.4K
NOI $37,946 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$484.8K
$424.2K – $565.7K
NOI $33,939 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$713.0K
$623.9K – $831.9K
NOI $49,912 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,041
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately entered residences feature eat-in kitchens, covered decks, private rear-yard access, and off-street parking.
Where is this duplex located?
The property is located at 65 Roosevelt Avenue Stamford, CT.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑unit layout with two bedrooms and one bath in each residence; Front and rear entrances serve both units; Covered decks connect to the kitchens and lead toward a level rear yard
