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    Property profile & analytics

    32-48 Huntington St Hartford, CT 06105

    • Apartment buildings
    • 74,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 32-48 Huntington St

    Year built
    1968
    Property size
    74,000 SF
    Property type
    Apartment buildings

    Description

    This exceptional investment opportunity presents a 68-unit multifamily property situated in Hartford, Connecticut's desirable Asylum Hill neighborhood. The property comprises five adjacent brick buildings and a vacant lot, totaling 74,000 square feet, and is offered at $5,599,000. The diverse unit mix includes one four-bedroom townhouse, twenty-two three-bedroom townhouses, nineteen two-bedroom ranch-style units, eleven one-bedroom ranch-style units, and fifteen studio apartments. Sixteen units boast two full bathrooms. Substantial renovations have been undertaken, encompassing the modernization of over 25 units with contemporary finishes and the complete overhaul of common areas, with new entry doors pending installation. The property benefits from significant recent capital improvements, including new circular pumps, water heaters, and roof replacements on select buildings, along with boiler upgrades. Convenient amenities include secured entry with pass card systems, a recently paved, large fenced parking lot, modern laundry facilities, updated electrical systems, and an on-site office. Its strategic location near Hartford Insurance and St. Francis Hospital ensures strong occupancy potential. Built in 1968, this asset offers a compelling blend of established infrastructure and recent upgrades, presenting a strong return on investment. The property is located at 32-48 Huntington Street, Hartford, CT 06105.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6912
    Latitude
    41.7713

    Comparable in this City

    • Value Estimation
      $1,475,000
      10,587 SF

      1 Huntington St

      APARTMENT HOUSE (5+ UNITS) • 10,587 SF
      1 Huntington St, Hartford, CT 06105-1682
      View Details
    • Value Estimation
      $875,000
      8,352 SF

      478 Prospect Ave

      APARTMENT HOUSE (5+ UNITS) • 8,352 SF
      478 Prospect Ave, Hartford, CT 06105-3914
      View Details
    • Value Estimation by Request
      8,742 SF

      252 Sisson Ave

      Multifamily properties • 8,742 SF
      252 Sisson Ave, Hartford, CT 06105
      View Details
    • Value Estimation
      $2,460,000
      32,724 SF

      145 Sisson Ave

      APARTMENT HOUSE (5+ UNITS) • 32,724 SF
      145 Sisson Ave, Hartford, CT 06105-4046
      View Details
    • Value Estimation by Request
      5,934 SF

      57 Imlay St

      APARTMENT HOUSE (5+ UNITS) • 5,934 SF
      57 Imlay St, Hartford, CT 06105-3656
      View Details
    • Value Estimation by Request
      0.35 Acres

      22 Evergreen Ave

      Multifamily properties • 0.35 Acres
      22 Evergreen Ave, Hartford, CT 06105
      View Details

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    32-48 Huntington St
    Hartford, CT 06105
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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