West Haven Two-Family
For Sale
$375,000
Pending
102 Highland Street, West Haven, CT 06516
Well-maintained two-family home in West Haven with rental income.
Property Size1,860 SF
Days on Market110
Property Features for 102 Highland Street
General Information
Standard status
Pending
Size
1,860 SF
Property subtype
2 Family
Building Details
Year Built
1957
Listing Agency:
Serhant Connecticut, LLC
(860) 810-3237
Listed By:
Dawn Gagliardi
(860) 810-3237
Source:
Lockandkeyre
Added: May 12
Changed: Aug 8
Last Checked: Jul 23 at 5:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Serhant Connecticut, LLC
Investment Insights
Based on property information with market context.
This well-maintained two-family home is located in West Haven. The property offers an opportunity for both owner-occupants and investors. The first-floor unit features 2 bedrooms and 1 full bathroom and will be delivered unoccupied. Hardwood floors are beneath the carpet in the first floor living room, as well as a wood burning fireplace. The second-floor unit offers 1 bedroom and 1 full bathroom and is currently tenant occupied with a yearly lease in place at $950/month, providing immediate rental income. The property features newer windows, a newer roof (approximately 4 years old), a newer high-efficiency hot water heater, and a newer washer and dryer in the basement with walkout access. Outside, there is a recently redone driveway and a newer garage door installed within the last two years. The property size is 1860 square feet.
Key Highlights
- Updated two‑family home ideal for owner‑occupants or investors.
- First‑floor unit is vacant, updated, and spacious with 2 bedrooms and 1 bathroom.
- Immediate rental income from tenant‑occupied second‑floor unit with a yearly lease.
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
$31,307
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
8.35%
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%
$626,140
$626.1K
Cap Rate 7%
$447,243
$447.2K
Cap Rate 9%
$347,856
$347.9K
Market Conditions
NOI Build-Up for 1,860 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
$48.0K $25.80/SF
− Vacancy
−$3.3K −$1.75/SF
EGI
$44.7K $24.05/SF
− OpEx
−$13.4K −$7.21/SF
NOI
$31.3K $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%
$626,140
Cap Rate 7%
$447,243
Cap Rate 9%
$347,856
Alternative Uses
Best Use
Multifamily LT 5
$447.2K
$391.3K – $521.8K
NOI $31,307 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$416.2K
$364.2K – $485.6K
NOI $29,133 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$598.3K
$523.5K – $698.0K
NOI $41,882 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Explore this area
Business Placement
Demographics for 06516, CT
55,584
Population
21,884
Households
2.5
Avg Household Size
38
Median Age
29%
College-Educated
88%
High-School Grad
10.8 sq mi
ZIP Area
5,147
Density / Sq Mi
$73,566
Median Household Income
$41,123
Median Earnings
$1,389
Median Rent
$265,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home in West Haven with rental income.
Where is this duplex located?
The property is located at 102 Highland Street West Haven, CT.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Updated two‑family home ideal for owner‑occupants or investors.; First‑floor unit is vacant, updated, and spacious with 2 bedrooms and 1 bathroom.; Immediate rental income from tenant‑occupied second‑floor unit with a yearly lease.
