Two-Unit Colonial
New
For Sale
$399,000
977 Townsend Avenue, New Haven, CT 06512
Multi-Family For Sale, Units on different Floors, New Haven, CT
Property Size1,626 SF
Lot Size0.16 Acres
Price / SF$245.39
Days on Market5
Property Features for 977 Townsend Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 3, Basement, Bedroom 2, Bathroom 1
Parking
2
Patio and Porch features
Deck
Exterior features
Sidewalk,Covered Deck
Basement
Partially Finished, Full
Lot features
Sloping Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
gps friendly
Standard status
Active
Size
1,626 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
7094
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
RE/MAX Coast and Country · RE/MAX International
(860) 536-7600
Listed By:
Sean Seigel · License #RES.0810564
(401) 207-5367
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 5 at 12:06PM
MLS# 24211031
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 1,626-square-foot, two-unit colonial sits on a 0.16-acre lot and was built in 1920. The first-floor residence has one bedroom, a full bath, and basement laundry, with additional basement area that could be finished. Upstairs, the second unit offers two bedrooms, an updated kitchen, and a bright living room. Both residences have separate entrances and updated kitchens. The property also includes a one-car garage, additional off-street parking, and a covered deck.
Public water and sewer serve the property, which is zoned RM1. The home is near beaches, shopping, Yale New Haven Hospital, area universities, parks, and major highways.
Public water and sewer serve the property, which is zoned RM1. The home is near beaches, shopping, Yale New Haven Hospital, area universities, parks, and major highways.
Key Highlights
- Two residences with separate entrances, utilities, and laundry
- 1,626 square feet on a 0.16‑acre lot
- First‑floor one‑bedroom unit and second‑floor two‑bedroom unit
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
$27,369
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
6.86%
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%
$547,380
$547.4K
Cap Rate 7%
$390,986
$391.0K
Cap Rate 9%
$304,100
$304.1K
Market Conditions
NOI Build-Up for 1,626 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
$42.0K $25.80/SF
− Vacancy
−$2.9K −$1.75/SF
EGI
$39.1K $24.05/SF
− OpEx
−$11.7K −$7.21/SF
NOI
$27.4K $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%
$547,380
Cap Rate 7%
$390,986
Cap Rate 9%
$304,100
Alternative Uses
Best Use
Multifamily LT 5
$391.0K
$342.1K – $456.2K
NOI $27,369 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$363.8K
$318.4K – $424.5K
NOI $25,468 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$523.0K
$457.7K – $610.2K
NOI $36,613 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 06512, CT
29,457
Population
12,945
Households
2.3
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
10.6 sq mi
ZIP Area
2,779
Density / Sq Mi
$84,034
Median Household Income
$48,981
Median Earnings
$1,464
Median Rent
$265,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Each residence has its own entrance, utilities, and laundry facilities.
Where is this duplex located?
The property is located at 977 Townsend Avenue New Haven, CT.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two residences with separate entrances, utilities, and laundry; 1,626 square feet on a 0.16‑acre lot; First‑floor one‑bedroom unit and second‑floor two‑bedroom unit
