Triplex With Three
For Sale
$430,000
74-76 Bridle Path, Newington, CT 06111
Three separately configured units offer individual laundry, basement storage, and mechanical areas in a fully rented property.
Property Size2,538 SF
Price / SF$169.42
Days on Market117
Property Features for 74-76 Bridle Path
General Information
Standard status
Active
Size
2,538 SF
Property subtype
3 Family
Building Details
Year Built
1984
Listing Agency:
Arute Realty Group LLC
(860) 810-7673
Listed By:
Robert Arute · License #RES.0792276
(860) 810-7673
Source:
Lockandkeyre
Added: May 7
Changed: Aug 30
Last Checked: Aug 30 at 5:31PM
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 Arute Realty Group LLC
Investment Insights
Based on property information with market context.
This 1984 triplex contains three separately configured residential units and three garages, with one garage assigned to each unit. The upper-level unit at 74 includes 3 bedrooms, 2 full baths, 1 half bath, in-unit laundry, and a basement with mechanical systems and storage. Unit 76-A provides 2 bedrooms, 1 full bath, 1 half bath, laundry, basement mechanical and storage space, and a garage. The lower-level 76-B unit has 1 bedroom, 1 full bath, in-unit laundry, storage, a mechanical room, and its own garage.
The property is fully rented and positioned at the Newington/Berlin town line, with two small adjoining pieces located in Berlin. A recorded driveway easement/right-of-way serves the property to the right and rear. The improvements require updating throughout and a new roof. Interior access is restricted before contract, with exterior appointments required.
The property is fully rented and positioned at the Newington/Berlin town line, with two small adjoining pieces located in Berlin. A recorded driveway easement/right-of-way serves the property to the right and rear. The improvements require updating throughout and a new roof. Interior access is restricted before contract, with exterior appointments required.
Key Highlights
- Three‑unit property with three garages, one assigned to each unit
- Unit 74: 3 bedrooms, 2 full baths, 1 half bath, laundry, basement, and garage
- Unit 76‑A: 2 bedrooms, 1 full bath, 1 half bath, laundry, basement, and garage
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
$37,267
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
8.67%
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%
$745,340
$745.3K
Cap Rate 7%
$532,386
$532.4K
Cap Rate 9%
$414,078
$414.1K
Market Conditions
NOI Build-Up for 2,538 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
$56.3K $22.20/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$53.2K $20.98/SF
− OpEx
−$16.0K −$6.29/SF
NOI
$37.3K $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%
$745,340
Cap Rate 7%
$532,386
Cap Rate 9%
$414,078
Alternative Uses
Best Use
Multifamily LT 5
$532.4K
$465.8K – $621.1K
NOI $37,267 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$489.2K
$428.0K – $570.7K
NOI $34,241 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$756.5K
$661.9K – $882.6K
NOI $52,955 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 06111, CT
30,536
Population
13,334
Households
2.3
Avg Household Size
45
Median Age
40%
College-Educated
92%
High-School Grad
13.0 sq mi
ZIP Area
2,349
Density / Sq Mi
$98,585
Median Household Income
$54,916
Median Earnings
$1,487
Median Rent
$279,900
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?
Triplex - Three separately configured units offer individual laundry, basement storage, and mechanical areas in a fully rented property.
Where is this triplex located?
The property is located at 74-76 Bridle Path Newington, CT.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Three‑unit property with three garages, one assigned to each unit; Unit 74: 3 bedrooms, 2 full baths, 1 half bath, laundry, basement, and garage; Unit 76‑A: 2 bedrooms, 1 full bath, 1 half bath, laundry, basement, and garage
