Two-Unit Duplex with Private
For Sale
$539,000
16 King Place, New Haven, CT 06519
Multi-Family For Sale, Units on different Floors, New Haven, CT
Property Size1,899 SF
Lot Size0.12 Acres
Price / SF$283.83
Days on Market48
Property Features for 16 King Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 3, Basement, Bathroom 2, Bedroom 1
Fireplace
1
Basement
Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Off Washington Ave
Standard status
Active
Size
1,899 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
8442
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
private backyard
Building Details
Year built
2009
Architectural style
Other
Listing Agency:
eRealty Advisors, Inc.
(203) 989-3635
Listed By:
Beata Molnar · License #RES.0831197
(718) 908-5559
Added: Jul 13
Changed: Aug 27
Last Checked: Aug 29 at 9:06AM
MLS# 24190209
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,899-square-foot duplex, built in 2009, contains two residential units arranged on separate floors. The first-floor owner's unit includes a natural-wood kitchen, living room with fireplace, hardwood floors, three bedrooms, custom built-in closets and desks, and two remodeled bathrooms. Its connected lower level adds two bedrooms and storage space. The second-floor apartment offers an open-concept living area, high ceilings, skylight, one bedroom, walk-in closet, and private balcony; it is tenant-occupied.
The property sits on a 0.12-acre lot with a private backyard. Public water and public sewer serve the property, and central air provides cooling. The RM2 zoning designation and two-unit configuration support its current multifamily use, while the location provides access to Downtown New Haven, Yale University, shopping, restaurants, and transportation.
The property sits on a 0.12-acre lot with a private backyard. Public water and public sewer serve the property, and central air provides cooling. The RM2 zoning designation and two-unit configuration support its current multifamily use, while the location provides access to Downtown New Haven, Yale University, shopping, restaurants, and transportation.
Key Highlights
- Two‑unit duplex with residences on separate floors
- 1,899 square feet on a 0.12‑acre lot
- First‑floor unit includes 3 bedrooms plus 2 lower‑level bedrooms
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
$31,964
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
5.93%
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%
$639,280
$639.3K
Cap Rate 7%
$456,629
$456.6K
Cap Rate 9%
$355,156
$355.2K
Market Conditions
NOI Build-Up for 1,899 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
$49.0K $25.80/SF
− Vacancy
−$3.3K −$1.75/SF
EGI
$45.7K $24.05/SF
− OpEx
−$13.7K −$7.21/SF
NOI
$32.0K $16.83/SF
Area
New Haven, CT
Vacancy
6.80%
Lease Rate
$25.80 /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%
$639,280
Cap Rate 7%
$456,629
Cap Rate 9%
$355,156
Alternative Uses
Best Use
Multifamily LT 5
$456.6K
$399.6K – $532.7K
NOI $31,964 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$424.9K
$371.8K – $495.7K
NOI $29,744 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$610.9K
$534.5K – $712.7K
NOI $42,760 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,689
Businesses Nearby
Explore this area
Business Placement
Demographics for 06519, CT
15,450
Population
6,424
Households
2.4
Avg Household Size
33
Median Age
20%
College-Educated
77%
High-School Grad
1.8 sq mi
ZIP Area
8,583
Density / Sq Mi
$44,394
Median Household Income
$29,745
Median Earnings
$1,356
Median Rent
$247,600
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 - RM2-zoned duplex with a tenant-occupied second-floor unit, private yard, and separate owner and rental living spaces.
Where is this duplex located?
The property is located at 16 King Place New Haven, CT.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Two‑unit duplex with residences on separate floors; 1,899 square feet on a 0.12‑acre lot; First‑floor unit includes 3 bedrooms plus 2 lower‑level bedrooms
