Duplex-Style Residential Income
For Sale
$499,999
Pending
98-100 Capen Street, Hartford, CT 06120
Two-level setup with 3 bedrooms/1 bath and 5 bedrooms/2 baths, updated finishes, and a front porch for everyday comfort.
Property Size3,376 SF
Days on Market75
Property Features for 98-100 Capen Street
General Information
Standard status
Pending
Size
3,376 SF
Property subtype
2 Family
Building Details
Year Built
1930
Listing Agency:
Torbello Real Estate Advisors
(860) 697-9971
Listed By:
Ilka Torres
(860) 697-9971
Source:
Lockandkeyre
Added: Jun 16
Changed: Aug 25
Last Checked: Aug 24 at 5:32AM
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 Torbello Real Estate Advisors
Investment Insights
Based on property information with market context.
Like new and thoughtfully designed, this duplex-style multi-family home offers a practical two-level layout and modern living spaces. The first floor features 3 bedrooms and 1 bath, while the upper floors combine for a total of 5 bedrooms and 2 baths. Inside, the open floor plan supports spacious living and dining areas with recessed lighting and abundant natural light. The chef-inspired kitchen includes quartz countertops, white shaker cabinets, stainless steel appliances, and a large island that works well for hosting. Throughout, you’ll find generous bedrooms and modern finishes geared toward low-maintenance, move-in readiness, with an inviting front porch for relaxing at home.
Conveniently positioned for daily needs, the home is described as being minutes from restaurants, shopping, schools, and transportation. WalkScore is listed at 53 (somewhat walkable), BikeScore at 63 (bikeable), and transitScore at 46 (some transit), supporting a range of neighborhood access options.
This configuration should appeal to tenants seeking more room and flexibility, as well as buyers looking for a straightforward residential income property. With updated interiors, a kitchen built for everyday use and entertaining, and a clear separation between lower and upper living areas, the home offers a turnkey option for owner-occupants or operators who prefer a modern, ready-to-settle-in setup.
Conveniently positioned for daily needs, the home is described as being minutes from restaurants, shopping, schools, and transportation. WalkScore is listed at 53 (somewhat walkable), BikeScore at 63 (bikeable), and transitScore at 46 (some transit), supporting a range of neighborhood access options.
This configuration should appeal to tenants seeking more room and flexibility, as well as buyers looking for a straightforward residential income property. With updated interiors, a kitchen built for everyday use and entertaining, and a clear separation between lower and upper living areas, the home offers a turnkey option for owner-occupants or operators who prefer a modern, ready-to-settle-in setup.
Key Highlights
- Year built 1930 with an updated, move‑in‑ready interior
- Two‑level layout with 3 bedrooms/1 bath on the first floor and 5 bedrooms/2 baths on the upper floors
- Open floor plan with spacious living and dining areas, recessed lighting, and abundant natural light
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
$45,547
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
9.11%
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%
$910,940
$910.9K
Cap Rate 7%
$650,671
$650.7K
Cap Rate 9%
$506,078
$506.1K
Market Conditions
NOI Build-Up for 3,376 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
$87.9K $26.04/SF
− Vacancy
−$5.1K −$1.51/SF
EGI
$82.8K $24.53/SF
− OpEx
−$37.3K −$11.04/SF
NOI
$45.5K $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%
$910,940
Cap Rate 7%
$650,671
Cap Rate 9%
$506,078
Alternative Uses
Best Use
Multifamily LT 5
$708.2K
$619.7K – $826.2K
NOI $49,572 @ 7.0% cap · market cap 9.91%
Second Best
Apartment 5plus
$650.7K
$569.3K – $759.1K
NOI $45,547 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$1.01M
$880.5K – $1.17M
NOI $70,440 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
Explore this area
Business Placement
Demographics for 06120, CT
12,636
Population
5,713
Households
2.2
Avg Household Size
32
Median Age
9%
College-Educated
73%
High-School Grad
3.5 sq mi
ZIP Area
3,610
Density / Sq Mi
$33,521
Median Household Income
$35,570
Median Earnings
$1,183
Median Rent
$183,000
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-level setup with 3 bedrooms/1 bath and 5 bedrooms/2 baths, updated finishes, and a front porch for everyday comfort.
Where is this duplex located?
The property is located at 98-100 Capen Street Hartford, CT.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Year built 1930 with an updated, move‑in‑ready interior; Two‑level layout with 3 bedrooms/1 bath on the first floor and 5 bedrooms/2 baths on the upper floors; Open floor plan with spacious living and dining areas, recessed lighting, and abundant natural light
