Two-Unit Duplex with Off-Street
For Sale
$459,000
567 Sherman Parkway, New Haven, CT 06511
Multi-Family For Sale, Units on different Floors, New Haven, CT
Property Size1,792 SF
Lot Size0.18 Acres
Price / SF$256.14
Days on Market128
Property Features for 567 Sherman Parkway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Basement, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 6, Bedroom 1
Parking
7
Fireplace
1
Basement
Full
Lot features
Level Lot
Elementary school
Wexler/Grant
High school
James Hillhouse
Directions
GPS friendly
Standard status
Active
Size
1,792 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
5349
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1940
Architectural style
Other
Listing Agency:
Real Broker CT, LLC
(855) 450-0442
Listed By:
Xiaoming Li
(917) 623-6536
Added: Apr 29
Changed: Aug 30
Last Checked: Sep 3 at 1:06PM
MLS# 24171227
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 two-unit duplex contains 1,792 square feet across a 0.18-acre lot. Each residence offers three bedrooms and a living room, with basement space included in the property. A fireplace, hot-water heating, and window-unit cooling serve the building. The structure dates to 1940 and is supported by public water and public sewer.
An open driveway provides off-street parking for up to seven vehicles, while the backyard adds usable outdoor area. The property is located at 567 Sherman Parkway in New Haven, Connecticut, within RM2 zoning. Both units are currently leased, and tenants pay their own utilities.
An open driveway provides off-street parking for up to seven vehicles, while the backyard adds usable outdoor area. The property is located at 567 Sherman Parkway in New Haven, Connecticut, within RM2 zoning. Both units are currently leased, and tenants pay their own utilities.
Key Highlights
- Two‑unit duplex with 3 bedrooms in each unit
- 1,792 square feet on a 0.18‑acre lot
- Open driveway accommodates up to 7 cars off‑street
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
$30,163
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
6.57%
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%
$603,260
$603.3K
Cap Rate 7%
$430,900
$430.9K
Cap Rate 9%
$335,144
$335.1K
Market Conditions
NOI Build-Up for 1,792 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
$46.2K $25.80/SF
− Vacancy
−$3.1K −$1.75/SF
EGI
$43.1K $24.05/SF
− OpEx
−$12.9K −$7.21/SF
NOI
$30.2K $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%
$603,260
Cap Rate 7%
$430,900
Cap Rate 9%
$335,144
Alternative Uses
Best Use
Multifamily LT 5
$430.9K
$377.0K – $502.7K
NOI $30,163 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$401.0K
$350.9K – $467.8K
NOI $28,068 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$576.4K
$504.4K – $672.5K
NOI $40,351 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,134
Businesses Nearby
Explore this area
Business Placement
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
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 - The property includes two three-bedroom units, a basement, and an open driveway for off-street parking.
Where is this duplex located?
The property is located at 567 Sherman Parkway New Haven, CT.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms in each unit; 1,792 square feet on a 0.18‑acre lot; Open driveway accommodates up to 7 cars off‑street
