Waterfront Duplex
New
For Sale
$1,200,000
82-84 Harbor Drive, Stamford, CT 06902
Two-family property near beaches, parks, waterfront recreation, dining, shopping, and Metro-North access.
Property Size2,964 SF
Price / SF$404.86
Days on Market3
Property Features for 82-84 Harbor Drive
General Information
Standard status
Active
Size
2,964 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1973
Listing Agency:
RE/MAX Heritage
Listed By:
Mohammed Shahjahan · License #851343
(203) 252-6953
Source:
Foreverhomesrealestate
Added: Sep 5
Last Checked: Sep 6 at 4:29AM
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 RE/MAX Heritage
Investment Insights
Based on property information with market context.
Built in 1973, this two-family property contains 2,964 square feet and is located at 82-84 Harbor Drive in Stamford. The duplex configuration supports separate residential units within a single investment property, with the surrounding setting offering access to coastal recreation and neighborhood amenities.
The property is near West Beach, Cummings Park, Long Island Sound, waterfront walking areas, and recreational facilities. Dining, shopping, and the Harbor Point district are also nearby, while downtown Stamford and the Metro-North station are a short drive away. The location provides access to beaches, parks, and commuting connections within the broader Stamford waterfront area.
The property is near West Beach, Cummings Park, Long Island Sound, waterfront walking areas, and recreational facilities. Dining, shopping, and the Harbor Point district are also nearby, while downtown Stamford and the Metro-North station are a short drive away. The location provides access to beaches, parks, and commuting connections within the broader Stamford waterfront area.
Key Highlights
- Two‑family duplex property at 82‑84 Harbor Drive
- 2,964 square feet
- Built in 1973
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
$57,034
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
4.75%
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%
$1,140,680
$1.1M
Cap Rate 7%
$814,771
$814.8K
Cap Rate 9%
$633,711
$633.7K
Market Conditions
NOI Build-Up for 2,964 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
$87.1K $29.40/SF
− Vacancy
−$5.7K −$1.91/SF
EGI
$81.5K $27.49/SF
− OpEx
−$24.4K −$8.25/SF
NOI
$57.0K $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%
$1,140,680
Cap Rate 7%
$814,771
Cap Rate 9%
$633,711
Alternative Uses
Best Use
Multifamily LT 5
$814.8K
$712.9K – $950.6K
NOI $57,034 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$728.7K
$637.7K – $850.2K
NOI $51,012 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$1.07M
$937.7K – $1.25M
NOI $75,019 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
752
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-family property near beaches, parks, waterfront recreation, dining, shopping, and Metro-North access.
Where is this duplex located?
The property is located at 82-84 Harbor Drive Stamford, CT.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑family duplex property at 82‑84 Harbor Drive; 2,964 square feet; Built in 1973
