Triplex with Walk-Out
New
For Sale
$429,900
9-11 Goodwin Pl, East Hartford, CT 06108
Three separate living spaces feature hardwood flooring, included appliances, and flexible laundry arrangements.
Property Size2,632 SF
Days on Market3
Property Features for 9-11 Goodwin Pl
General Information
Standard status
Active
Size
2,632 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Building Details
Building Size
2,632 SF
Year Built
1973
Stories
3
Listing Agency:
Berkshire Hathaway NE Prop.
Listed By:
Linda Goff
(860) 966-4003
Source:
Elliman
Added: Sep 5
Last Checked: Sep 7 at 9:17AM
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 Berkshire Hathaway NE Prop.
Investment Insights
Based on property information with market context.
This three-unit multifamily property was built in 1973 and received a new roof in 2025. The first- and second-floor units feature hardwood floors, and their appliances convey with the sale. Laundry amenities include a washer and dryer in the basement for the first-floor unit and a washer-dryer hookup serving the second-floor unit. The lower-level residence has a walk-out configuration and is rented month-to-month.
The property includes two hot water heaters and separate electrical panels. Located at 9-11 Goodwin Pl in East Hartford, Connecticut, the building has a Walk Score of 39 and a Bike Score of 37, classified as Somewhat Bikeable.
The property includes two hot water heaters and separate electrical panels. Located at 9-11 Goodwin Pl in East Hartford, Connecticut, the building has a Walk Score of 39 and a Bike Score of 37, classified as Somewhat Bikeable.
Key Highlights
- Three‑unit multifamily property built in 1973
- New roof installed in 2025
- Walk‑out lower‑level unit rented month‑to‑month
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
$38,648
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
8.99%
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%
$772,960
$773.0K
Cap Rate 7%
$552,114
$552.1K
Cap Rate 9%
$429,422
$429.4K
Market Conditions
NOI Build-Up for 2,632 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
$58.4K $22.20/SF
− Vacancy
−$3.2K −$1.22/SF
EGI
$55.2K $20.98/SF
− OpEx
−$16.6K −$6.29/SF
NOI
$38.6K $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%
$772,960
Cap Rate 7%
$552,114
Cap Rate 9%
$429,422
Alternative Uses
Best Use
Multifamily LT 5
$552.1K
$483.1K – $644.1K
NOI $38,648 @ 7.0% cap · market cap 8.99%
Second Best
Apartment 5plus
$507.3K
$443.9K – $591.8K
NOI $35,509 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$784.5K
$686.5K – $915.3K
NOI $54,917 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Explore this area
Business Placement
Demographics for 06108, CT
24,201
Population
9,963
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
85%
High-School Grad
8.1 sq mi
ZIP Area
2,988
Density / Sq Mi
$55,766
Median Household Income
$35,801
Median Earnings
$1,161
Median Rent
$218,800
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 separate living spaces feature hardwood flooring, included appliances, and flexible laundry arrangements.
Where is this triplex located?
The property is located at 9-11 Goodwin Pl East Hartford, CT.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1973; New roof installed in 2025; Walk‑out lower‑level unit rented month‑to‑month
