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    Spacious Two-Family Home Opportunity

    338 Lighthouse Road New Haven, CT 06512

    Claim this Listing
    For Sale
    Under Contract
    $499,900

    MULTI_FAMILY - New Haven, CT

    Property size:
    2,634 SF
    Lot size:
    0.27 Acres
    Price / SF:
    $189/SF
    Added:
    May 1, 2026
    Days on Market:
    72
    Last Refresh:
    Jul 11 at 10:06 am

    Property Features for 338 Lighthouse Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RS2
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 2, Basement, Bathroom 1, Bedroom 3
    Parking
    2
    Patio and Porch features
    Deck
    Exterior features
    Wrap Around Deck
    Fireplace
    1
    Basement
    Full, Partially Finished
    Standard status
    Active Under Contract
    Size
    2,634 SF
    Lot size
    0.27 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    10687

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Steam
    Water source
    Public

    Building Details

    Year built
    1910
    Architectural style
    Other

    Listing agent Gene Pica License #539011

    Listing office RE/MAX Alliance 10 Pine Orchard Road, Branford, CT

    Listing date May 1, 2026

    MLS# 24171039 Listing URL

    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 spacious two-family home, offered for the first time in nearly 70 years, presents an opportunity in the Morris Cove neighborhood, steps from Lighthouse Park. The property, full of charm and character, features a wraparound front porch and original woodwork. The first floor includes two bedrooms, one bath, a flexible floor plan, inlaid hardwood flooring, a spacious foyer, detailed trim, an eat-in kitchen, and sliders to a deck. The second floor mirrors the spaciousness with two bedrooms, one bath, hardwood floors, and a kitchen area with water views. Sliders open to a balcony with panoramic views of downtown New Haven and the harbor. The finished lower level offers a full walk-out with rich wood and an open space suitable for a family room, entertaining, or potential in-law setup, along with workshop space. A covered porch leads to a two-car garage. Outside, a large deck surrounds an above-ground pool with harbor views. Situated on a 0.27-acre lot, the property contains 2,634 square feet of living space. The home will need updating, especially the second-floor unit, but offers potential in a location near Lighthouse Park. The property is zoned RS2 and is subject to probate court approval.

    Key Highlights

    • Two‑family home built in 1910 with enclosed wraparound front porch and wraparound deck
    • Steam heat; public water and public sewer
    • First floor features 2 bedrooms and 1 bath, eat‑in kitchen, inlaid hardwood flooring, and sliders to a deck

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $68.0k $25.80
    − Vacancy −$4.6k −$1.75
    EGI $63.3k $24.05
    − OpEx −$19.0k −$7.21
    NOI $44.3k $16.83
    2,634 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $633.4K
    $554.2K – $738.9K (±1% cap)
    NOI $44,335 @ 7.0% cap · market cap 8.87%
    Second Best
    Apartment 5plus
    $589.4K
    $515.7K – $687.6K (±1% cap)
    NOI $41,256 @ 7.0% cap · market cap 8.25%
    Theoretical Best
    Office A
    $847.3K
    $741.4K – $988.5K (±1% cap)
    NOI $59,311 @ 7.0% cap · market cap 11.86%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Hair Salon Spa & Massage Center Restaurant Law Firm HVAC Service Nail Salon Pharmacy Bakery (Bike/Boat/Book/etc) Store

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

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    FAQs

    What type of property is this?
    Duplex - Charming two-family home near Lighthouse Park with harbor views.
    Where is this duplex located?
    The property is located at 338 Lighthouse Road New Haven, CT.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: Two‑family home built in 1910 with enclosed wraparound front porch and wraparound deck; Steam heat; public water and public sewer; First floor features 2 bedrooms and 1 bath, eat‑in kitchen, inlaid hardwood flooring, and sliders to a deck
    Contact an agent
    (203) 314-7578
    We can help!
    Contact an agent
    Gene Pica
    Gene Pica
    Real Estate License ID: 539011
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