Renovated Duplex with Separate
For Sale
$799,000
71 Alvord Lane, Stamford, CT 06902
Updated two-family property with separate meters, in-unit laundry, and private rear parking.
Property Size1,960 SF
Price / SF$403.54
Days on Market11
Property Features for 71 Alvord Lane
General Information
Standard status
Active
Size
1,960 SF
Property subtype
2 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR+den/1BA, 1 x 2BR+flex/1BA
Multifamily Units
2
Amenities
separate electric and gas meters
individual thermostats
in-unit washer/dryer
private parking
walk-out lower level
Building Details
Building Size
1,960 SF
Year Built
1960
Buildings
1
Listing Agency:
Beycome of Connecticut
Listed By:
Steven Koleno · License #3469487
(804) 656-5007
Source:
Iverty
Added: Sep 17
Changed: Sep 26
Last Checked: Sep 26 at 8:43AM
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.
Built in 1960 and renovated three years ago, this 1,980-square-foot duplex includes two separately metered units with individual thermostats and dedicated washers and dryers. Improvements include a newer roof, siding, high-efficiency boiler, and appliances. The first unit offers 1 bedroom, a study or den, and 1 full bath. The second has 2 bedrooms, an additional flexible room, and 1 full bath.
A partially finished walk-out lower level provides natural light through two windows, substantial storage, and an additional full bath area that is not reflected in public tax records. The property also includes a private rear parking area accommodating multiple vehicles, with additional space for outdoor activities and entertaining. Access is available to Old Greenwich Metro-North Station, I-95 Exit 6, ShopRite, Home Depot, and everyday conveniences.
A partially finished walk-out lower level provides natural light through two windows, substantial storage, and an additional full bath area that is not reflected in public tax records. The property also includes a private rear parking area accommodating multiple vehicles, with additional space for outdoor activities and entertaining. Access is available to Old Greenwich Metro-North Station, I-95 Exit 6, ShopRite, Home Depot, and everyday conveniences.
Key Highlights
- Renovated three years ago with a newer roof, siding, high‑efficiency boiler, and appliances
- 1,980‑square‑foot duplex with two separately metered units
- Unit 1: 1 bedroom, study/den, and 1 full bath; Unit 2: 2 bedrooms, flexible extra room, and 1 full bath
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
$38,100
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
4.77%
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%
$762,000
$762.0K
Cap Rate 7%
$544,286
$544.3K
Cap Rate 9%
$423,333
$423.3K
Market Conditions
NOI Build-Up for 1,980 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
$58.2K $29.40/SF
− Vacancy
−$3.8K −$1.91/SF
EGI
$54.4K $27.49/SF
− OpEx
−$16.3K −$8.25/SF
NOI
$38.1K $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%
$762,000
Cap Rate 7%
$544,286
Cap Rate 9%
$423,333
Alternative Uses
Best Use
Multifamily LT 5
$544.3K
$476.3K – $635.0K
NOI $38,100 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$486.8K
$426.0K – $568.0K
NOI $34,077 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$715.9K
$626.4K – $835.2K
NOI $50,114 @ 7.0% cap · market cap 6.27%
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
1,158
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
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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 - Updated two-family property with separate meters, in-unit laundry, and private rear parking.
Where is this duplex located?
The property is located at 71 Alvord Lane Stamford, CT.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Renovated three years ago with a newer roof, siding, high‑efficiency boiler, and appliances; 1,980‑square‑foot duplex with two separately metered units; Unit 1: 1 bedroom, study/den, and 1 full bath; Unit 2: 2 bedrooms, flexible extra room, and 1 full bath
