Updated
New
For Sale
$469,900
116 Hemlock St, West Haven, CT 06516
Two separate residences feature refreshed kitchens and bathrooms, along with exterior improvements.
Property Size2,269 SF
Price / SF$207.10
Days on Market4
Property Features for 116 Hemlock St
General Information
Standard status
Active
Size
2,269 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1960
Buildings
1
Listing Agency:
Miki Realty, LLC
Listed By:
Nermin Duric (860) 810-3799 (860) 810-3799
(860) 810-3799
Source:
Rhodeislandhomesforsale
Added: Nov 3
Changed: Nov 5
Last Checked: Nov 4 at 1:19PM
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 Miki Realty, LLC
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Investment Insights
Based on property information with market context.
This 1960-built duplex contains two separate living units. Renovations include updated kitchens and bathrooms, plus a new roof, vinyl siding, and gutters. The property is zoned R2.
Shopping, restaurants, grocery stores, schools, and public transportation are nearby. Major highways, West Haven beaches, downtown New Haven, Yale University, Yale New Haven Hospital, and the Metro-North train station are also accessible from the property.
Shopping, restaurants, grocery stores, schools, and public transportation are nearby. Major highways, West Haven beaches, downtown New Haven, Yale University, Yale New Haven Hospital, and the Metro-North train station are also accessible from the property.
Key Highlights
- Two separate living units
- Updated kitchens and fully renovated bathrooms
- New roof, vinyl siding, and gutters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,192
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,840
$763.8K
Cap Rate 7%
$545,600
$545.6K
Cap Rate 9%
$424,356
$424.4K
Market Conditions
NOI Build-Up for 2,269 SF
Gross rent
$58.5K $25.80/SF
− Vacancy
−$4.0K −$1.75/SF
EGI
$54.6K $24.05/SF
− OpEx
−$16.4K −$7.21/SF
NOI
$38.2K $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 Rate 5%
$763,840
Cap Rate 7%
$545,600
Cap Rate 9%
$424,356
Alternative Uses
Best Use
Multifamily LT 5
$545.6K
$477.4K – $636.5K
NOI $38,192 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$507.7K
$444.2K – $592.3K
NOI $35,539 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$729.9K
$638.7K – $851.5K
NOI $51,092 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
459
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
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
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences feature refreshed kitchens and bathrooms, along with exterior improvements.
Where is this duplex located?
The property is located at 116 Hemlock St West Haven, CT.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Two separate living units; Updated kitchens and fully renovated bathrooms; New roof, vinyl siding, and gutters
