Well-Maintained Duplex with
For Sale
$550,000
Pending
11 Button Street, New Haven, CT 06519
This duplex offers two spacious 3BR units with pass-through kitchen design and in-unit sprinkler coverage.
Property Size2,596 SF
Days on Market62
Property Features for 11 Button Street
General Information
Standard status
Pending
Size
2,596 SF
Property subtype
2 Family
Additional Details
Highway Access
Yes
Sprinkler System
Yes
Building Details
Year Built
2005
Listing Agency:
GRL & Realtors, LLC
(203) 494-1337
Listed By:
Jeffrey Granoff
(203) 494-1337
Source:
Lockandkeyre
Added: Jun 8
Changed: Aug 8
Last Checked: Aug 3 at 8:18AM
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 GRL & Realtors, LLC
Investment Insights
Based on property information with market context.
The property is a well-maintained duplex featuring spacious 3-bedroom units. Each home includes a kitchen with a pass-through to a formal dining room and living room, plus a primary bedroom with an attached bath. Flooring is a mix of hardwood and carpet, and the homes include a sprinkler system throughout. The current condition reflects upkeep by the original owners.
Conveniently located minutes from Downtown, with access to trains and major highways. The listing also notes proximity to Yale and the hospital, along with nearby amenities.
This configuration can suit buyers seeking a residential income property with larger 3BR layouts and a functional common area flow from kitchen to formal dining and living spaces. The presence of hardwood-and-carpet finishes and sprinkler coverage provides practical, move-ready comfort for occupants, while the documented care and landscaping add curb appeal through well-kept flower gardens.
Conveniently located minutes from Downtown, with access to trains and major highways. The listing also notes proximity to Yale and the hospital, along with nearby amenities.
This configuration can suit buyers seeking a residential income property with larger 3BR layouts and a functional common area flow from kitchen to formal dining and living spaces. The presence of hardwood-and-carpet finishes and sprinkler coverage provides practical, move-ready comfort for occupants, while the documented care and landscaping add curb appeal through well-kept flower gardens.
Key Highlights
- Year built 2005 duplex with two spacious 3BR units
- Pass‑through kitchen design with kit pass‑thru to formal dining room and living room
- Primary bedroom includes a bath
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
$43,696
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
7.94%
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%
$873,920
$873.9K
Cap Rate 7%
$624,229
$624.2K
Cap Rate 9%
$485,511
$485.5K
Market Conditions
NOI Build-Up for 2,596 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
$67.0K $25.80/SF
− Vacancy
−$4.6K −$1.75/SF
EGI
$62.4K $24.05/SF
− OpEx
−$18.7K −$7.21/SF
NOI
$43.7K $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%
$873,920
Cap Rate 7%
$624,229
Cap Rate 9%
$485,511
Alternative Uses
Best Use
Multifamily LT 5
$624.2K
$546.2K – $728.3K
NOI $43,696 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$580.9K
$508.3K – $677.7K
NOI $40,660 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$835.1K
$730.7K – $974.3K
NOI $58,455 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 06519, CT
15,450
Population
6,424
Households
2.4
Avg Household Size
33
Median Age
20%
College-Educated
77%
High-School Grad
1.8 sq mi
ZIP Area
8,583
Density / Sq Mi
$44,394
Median Household Income
$29,745
Median Earnings
$1,356
Median Rent
$247,600
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 - This duplex offers two spacious 3BR units with pass-through kitchen design and in-unit sprinkler coverage.
Where is this duplex located?
The property is located at 11 Button Street New Haven, CT.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Year built 2005 duplex with two spacious 3BR units; Pass‑through kitchen design with kit pass‑thru to formal dining room and living room; Primary bedroom includes a bath
