Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    262 Sherman Ave New Haven, CT 06511

    Sponsored
    For Sale
    $385,000

    MULTI_FAMILY - New Haven, CT

    Property size:
    4,598 SF
    Lot size:
    0.18 Acres
    Days on Market:
    1
    Last Refresh:
    Jan 30 at 3:06 pm

    Property Features for 262 Sherman Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RM2
    Rooms
    Bedroom 2, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 7, Bedroom 1, Bedroom 3, Bathroom 1, Basement, Bedroom 10, Bedroom 8, Bedroom 9
    Bedrooms
    10
    Bathrooms
    1
    Parking
    3
    Basement
    Full
    Size
    4,598 SF
    Lot size
    0.18 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Michael Martinez

    Wareck Real Estate LLC (203) 878-6888

    Listing agent Michael Martinez (203) 787-6888

    Listing date Jan 30, 2026

    MLS# 24150183

    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.

    Learn more

    Property Insight Report

    Overview

    Victorian Multifamily with Expansion Potential

    This grand Victorian property, offering approximately 4,600 square feet of living space, presents a unique opportunity for customization and value enhancement. The property is a legal four-family residence. The first floor, spanning approximately 1,700 square feet, features inlaid hardwood floors, a classic fireplace, an updated kitchen and bathroom, and two bedrooms. The first floor is suitable for immediate use or rental while the upper levels are completed. The first floor is easily convertible to a three-bedroom layout. The second and third floors have been fully gutted and partially framed, offering a blank canvas for renovation. The previous owner obtained permits to convert the property into a five-unit building, although these permits have now expired. The property is centrally located with convenient access to downtown and the Edgewood area. Showings will start on 1/31/2026. The lot size is 0.18 acres. The property is zoned RM2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.94339
    Latitude
    41.315105

    Nearby Similar for Sale

    • New
      $995,000
      Pending

      Queen Anne Multifamily Home

      Historic Queen Anne with modern updates, ideal for owner-occupant.
      185 Saint Ronan St, New Haven, CT 06511
      View Details
    • New
      $435,000
      Pending

      Winthrop Avenue Multifamily Investment Property

      Well-maintained, renovated three-unit property near Frontage Road in New Haven.
      129 Winthrop Ave, New Haven, CT 06519
      View Details
    • New
      $450,000
      Pending

      Refurbished Multifamily Property in New Haven

      Refurbished multifamily property with strong cash flow potential.
      191 Ferry St, New Haven, CT 06513
      View Details
    • $499,999
      Pending

      Three-Family Property in Fair Haven

      Three-family property in desirable New Haven neighborhood near amenities.
      39 Houston St, New Haven, CT 06513
      View Details
    • New
      $349,995
      1,404 SF

      New Haven Multifamily Investment Property

      Fully rented multifamily property near Yale, generating $3,300 monthly income.
      163 West St, New Haven, CT 06519
      View Details
    • New
      $595,000
      2,368 SF

      Remodeled Multifamily in Fair Haven

      Spacious, remodeled multifamily property in New Haven's Fair Haven neighborhood.
      28 Farren Ave, New Haven, CT 06513
      View Details
    • $550,000
      2,226 SF

      West Haven Two-Family Home

      Well-maintained two-family home in West Haven, perfect for investors.
      90 Blohm St, West Haven, CT 06516
      View Details
    • New
      $307,400
      Pending

      Spacious Three-Family Home on Corner

      Three-family home on corner lot near highways and shopping.
      22 Helen St, Hamden, CT 06514
      View Details
    • $370,000
      1,080 SF

      New Haven Commercial Building For Sale

      Freestanding commercial building with flexible-use space near Yale and Quinnipiac.
      515 Middletown Ave, New Haven, CT 06513
      View Details
    • $1,790,000
      21,152 SF

      Equipped Food Manufacturing Facility

      19,106 SF industrial building with food production equipment.
      724 Grand Ave, New Haven, CT 06511
      View Details
    • New
      $899,999
      15,977 SF

      Bethany Commercial Investment Opportunity

      18 commercial units in established complex with income potential.
      696 Total, Bethany, CT 06524
      View Details
    • $439,000
      3,161 SF

      Income-Producing Multifamily Property

      Three-unit building with reliable cash flow in New Haven.
      36 Shelter St, New Haven, CT 06513
      View Details

    FAQs

    What type of property is this?
    Quadplex - Victorian four-family with potential for five units near downtown.
    Where is this quadplex located?
    The property is located at 262 Sherman Ave New Haven, CT.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: - Grand 4,600 sq ft Victorian with significant customization potential.; - Legal four-family property with expired permits for five units, offering expansion possibilities (buyer to verify).; - First floor (approx. 1,700 sq ft) is move-in ready/rentable with updated kitchen and bathroom, inlaid hardwood floors and two bedrooms.
    (203) 787-6888
    Request Owner's contact information
    262 Sherman Ave New Haven, CT 06511
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    262 Sherman Ave
    New Haven, CT 06511
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    262 Sherman Ave New Haven, CT 06511
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michael Martinez
    (203) 787-6888
    Learn more
    Google sign-in failed. Please try again or use another login method.