Multifamily Property with Private
For Sale
$449,900
Pending
83 Colebrook Street, Hartford, CT 06112
Two-level unit placement, paved off-street parking, and natural-gas baseboard heating support the property’s residential configuration.
Property Size2,801 SF
Days on Market161
Property Features for 83 Colebrook Street
General Information
Standard status
Pending
Size
2,801 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
N2-2
Taxes and HOA fees
Annual Taxes
$6,725
Amenities
Natural Gas, Baseboard
Full
Gas Water Heater
Paved, Off Street, Private, Driveway, Attached
Units on different Floors
Building Details
Building Size
2,801 SF
Year Built
1921
Listing Agency:
Agora Homes
Listed By:
Angela Jarvis · License #RES.0815020
(860) 816-0058
Source:
Evrealestate
Added: Mar 31
Changed: Aug 30
Last Checked: Aug 31 at 1:05PM
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 Agora Homes
Investment Insights
Based on property information with market context.
This multifamily property was built in 1921 and includes units positioned on different floors. The building is served by natural-gas baseboard heat and a gas water heater, with a full bathroom noted among the interior features.
Exterior improvements include a paved private driveway, off-street parking, and an attached feature. The property is identified with N2-2 zoning in Hartford, Connecticut.
Exterior improvements include a paved private driveway, off-street parking, and an attached feature. The property is identified with N2-2 zoning in Hartford, Connecticut.
Key Highlights
- Multifamily property with units on different floors
- Paved private driveway with off‑street parking
- Natural‑gas baseboard heating
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
$37,789
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
8.40%
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%
$755,780
$755.8K
Cap Rate 7%
$539,843
$539.8K
Cap Rate 9%
$419,878
$419.9K
Market Conditions
NOI Build-Up for 2,801 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
$72.9K $26.04/SF
− Vacancy
−$4.2K −$1.51/SF
EGI
$68.7K $24.53/SF
− OpEx
−$30.9K −$11.04/SF
NOI
$37.8K $13.49/SF
Area
Hartford, CT
Vacancy
5.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$755,780
Cap Rate 7%
$539,843
Cap Rate 9%
$419,878
Alternative Uses
Best Use
Apartment 5plus
$539.8K
$472.4K – $629.8K
NOI $37,789 @ 7.0% cap · market cap 8.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$834.9K
$730.5K – $974.1K
NOI $58,443 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 06112, CT
23,189
Population
8,785
Households
2.6
Avg Household Size
32
Median Age
10%
College-Educated
77%
High-School Grad
3.0 sq mi
ZIP Area
7,730
Density / Sq Mi
$47,010
Median Household Income
$29,383
Median Earnings
$1,229
Median Rent
$203,300
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?
Multifamily property - Two-level unit placement, paved off-street parking, and natural-gas baseboard heating support the property’s residential configuration.
Where is this multifamily property located?
The property is located at 83 Colebrook Street Hartford, CT.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Multifamily property with units on different floors; Paved private driveway with off‑street parking; Natural‑gas baseboard heating
