Renovated
For Sale
$449,999
92-94 Chadwick Avenue, Hartford, CT 06106
Updated kitchens, new flooring, and upgraded electrical systems define the recently improved interiors.
Property Size2,829 SF
Price / SF$159.07
Days on Market200
Property Features for 92-94 Chadwick Avenue
General Information
Standard status
Active
Size
2,829 SF
Property subtype
Multi-Family / 3 Family
Zoning
NX
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,833
Amenities
Yes
Baseboard, Gas on Gas
15
Access Via Hatch
Basement Hook-Up(s)
Not Applicable
Building Details
Year Built
1900
Listing Agency:
MBA Realty, LLC
(860) 794-4262
Listed By:
Prianka M Rozario · License #RES.0835785
(860) 794-4262
Source:
Compass
Added: Feb 12
Changed: Aug 29
Last Checked: Aug 31 at 1:56AM
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 MBA Realty, LLC
Investment Insights
Based on property information with market context.
This multifamily property contains three residential units within 2829 square feet. Recent improvements include new flooring, refreshed kitchens, and upgraded electrical systems throughout the building. The configuration may suit an owner-occupant seeking multiple units or an investor pursuing a residential income property, consistent with the stated property positioning.
Built in 1900, the property is located at 92-94 Chadwick Avenue in Hartford, Connecticut. NX zoning is identified for the parcel. The building’s three-unit layout and completed interior improvements provide a defined multifamily format for evaluating occupancy, management, and income use.
Built in 1900, the property is located at 92-94 Chadwick Avenue in Hartford, Connecticut. NX zoning is identified for the parcel. The building’s three-unit layout and completed interior improvements provide a defined multifamily format for evaluating occupancy, management, and income use.
Key Highlights
- Three‑unit multifamily property at 92‑94 Chadwick Avenue, Hartford, CT 06106
- 2829 square feet of building area
- Recently updated kitchens in each unit
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
$38,167
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
8.48%
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%
$763,340
$763.3K
Cap Rate 7%
$545,243
$545.2K
Cap Rate 9%
$424,078
$424.1K
Market Conditions
NOI Build-Up for 2,829 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
$73.7K $26.04/SF
− Vacancy
−$4.3K −$1.51/SF
EGI
$69.4K $24.53/SF
− OpEx
−$31.2K −$11.04/SF
NOI
$38.2K $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%
$763,340
Cap Rate 7%
$545,243
Cap Rate 9%
$424,078
Alternative Uses
Best Use
Multifamily LT 5
$593.4K
$519.3K – $692.3K
NOI $41,540 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$545.2K
$477.1K – $636.1K
NOI $38,167 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$843.2K
$737.8K – $983.8K
NOI $59,027 @ 7.0% cap · market cap 13.12%
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
2,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 06106, CT
38,036
Population
16,938
Households
2.2
Avg Household Size
33
Median Age
17%
College-Educated
70%
High-School Grad
4.2 sq mi
ZIP Area
9,056
Density / Sq Mi
$47,542
Median Household Income
$31,395
Median Earnings
$1,237
Median Rent
$201,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Updated kitchens, new flooring, and upgraded electrical systems define the recently improved interiors.
Where is this triplex located?
The property is located at 92-94 Chadwick Avenue Hartford, CT.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: Three‑unit multifamily property at 92‑94 Chadwick Avenue, Hartford, CT 06106; 2829 square feet of building area; Recently updated kitchens in each unit
