Two-Family Duplex with
For Sale
$440,000
12 Francis Avenue, Hamden, CT 06517
Both units feature matching layouts with living, dining, kitchen, and bedroom areas.
Property Size2,464 SF
Price / SF$178.57
Days on Market8
Property Features for 12 Francis Avenue
General Information
Standard status
Active
Size
2,464 SF
Property subtype
2 Family
Additional Details
Road Access
Yes
Multifamily Units
2
Building Details
Year Built
1962
Listing Agency:
Berkshire Hathaway NE Prop.
(203) 571-7104
Listed By:
Jordan Casteel
(203) 571-7104
Source:
Lockandkeyre
Added: Aug 1
Changed: Aug 4
Last Checked: Aug 8 at 9:22AM
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 Berkshire Hathaway NE Prop.
Investment Insights
Based on property information with market context.
This 2,464-square-foot duplex contains two residences with matching floor plans. Each unit offers a living room, formal dining room, kitchen, three bedrooms, and one full bathroom, creating a six-bedroom, two-bathroom configuration overall. The property was built in 1962 and includes a new roof along with updated mechanical systems. Some additional work remains to complete the property.
Located on Francis Avenue in Hamden, the duplex sits along a one-way street and provides off-street parking. Its two-unit layout and separate living areas support continued residential use and provide a practical configuration for an owner-occupant or multifamily investor.
Located on Francis Avenue in Hamden, the duplex sits along a one-way street and provides off-street parking. Its two-unit layout and separate living areas support continued residential use and provide a practical configuration for an owner-occupant or multifamily investor.
Key Highlights
- Two‑unit duplex with 2,464 SF of total building area
- Six bedrooms and 2 full bathrooms overall
- Matching layouts with 3 bedrooms in each 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
$38,593
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
8.77%
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%
$771,860
$771.9K
Cap Rate 7%
$551,329
$551.3K
Cap Rate 9%
$428,811
$428.8K
Market Conditions
NOI Build-Up for 2,464 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
$74.8K $30.36/SF
− Vacancy
−$4.6K −$1.88/SF
EGI
$70.2K $28.48/SF
− OpEx
−$31.6K −$12.81/SF
NOI
$38.6K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$771,860
Cap Rate 7%
$551,329
Cap Rate 9%
$428,811
Alternative Uses
Best Use
Multifamily LT 5
$592.5K
$518.4K – $691.2K
NOI $41,474 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$551.3K
$482.4K – $643.2K
NOI $38,593 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$792.6K
$693.5K – $924.7K
NOI $55,483 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 06517, CT
14,954
Population
6,875
Households
2.2
Avg Household Size
45
Median Age
52%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
2,991
Density / Sq Mi
$97,154
Median Household Income
$58,025
Median Earnings
$1,351
Median Rent
$313,000
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 - Both units feature matching layouts with living, dining, kitchen, and bedroom areas.
Where is this duplex located?
The property is located at 12 Francis Avenue Hamden, CT.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,464 SF of total building area; Six bedrooms and 2 full bathrooms overall; Matching layouts with 3 bedrooms in each unit
