Side-by-Side
For Sale
$349,900
28 , West Hartford, CT 06110
Both residences include three bedrooms, one bath, and an open front porch.
Property Size1,686 SF
Price / SF$207.53
Days on Market8
Property Features for 28
General Information
Standard status
Active
Size
1,686 SF
Property subtype
2 Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
open front porch
hardwood floors
Building Details
Year Built
1943
Buildings
1
Listing Agency:
William Raveis Real Estate
(860) 521-4311
Listed By:
Silvia Winn · License #RES.0796036
(860) 519-1338
Source:
Lockandkeyre
Added: Sep 28
Changed: Oct 4
Last Checked: Oct 4 at 9:47AM
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 William Raveis Real Estate
Investment Insights
Based on property information with market context.
This 1,686-square-foot duplex in West Hartford’s Elmwood section was built in 1943. Its side-by-side units each have three bedrooms, one bathroom, and an open front porch. Hardwood flooring runs through the main living areas and bedrooms, excluding the kitchens and bathrooms. The bathroom in the left-side unit, identified as #30, has been remodeled.
The property includes a level, open rear yard and is near highways, shopping malls, parks, and schools.
The property includes a level, open rear yard and is near highways, shopping malls, parks, and schools.
Key Highlights
- 1,686‑square‑foot duplex built in 1943
- Two side‑by‑side units, each with 3 bedrooms and 1 bath
- Open front porch at 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
$24,757
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
7.08%
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%
$495,140
$495.1K
Cap Rate 7%
$353,671
$353.7K
Cap Rate 9%
$275,078
$275.1K
Market Conditions
NOI Build-Up for 1,686 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
$37.4K $22.20/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$35.4K $20.98/SF
− OpEx
−$10.6K −$6.29/SF
NOI
$24.8K $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%
$495,140
Cap Rate 7%
$353,671
Cap Rate 9%
$275,078
Alternative Uses
Best Use
Multifamily LT 5
$353.7K
$309.5K – $412.6K
NOI $24,757 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$324.9K
$284.3K – $379.1K
NOI $22,746 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$502.5K
$439.7K – $586.3K
NOI $35,178 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
930
Businesses Nearby
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Business Placement
Demographics for 06110, CT
13,004
Population
5,540
Households
2.3
Avg Household Size
39
Median Age
41%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
3,941
Density / Sq Mi
$81,972
Median Household Income
$51,576
Median Earnings
$1,542
Median Rent
$269,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences include three bedrooms, one bath, and an open front porch.
Where is this duplex located?
The property is located at 28 West Hartford, CT.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,686‑square‑foot duplex built in 1943; Two side‑by‑side units, each with 3 bedrooms and 1 bath; Open front porch at each unit
