Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Spacious First-Floor Apartment For Rent Title is generated by Realmo AI

    1231 State St First Floor, New Haven, CT 06511

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,000 /Mo

    Bright, spacious three-bedroom apartment near downtown, highways, and shopping.

    Type:Multi Family
    Lot size:
    0.12 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    57
    Last Refresh:
    Mar 17 at 2:40 am

    Property Features for 1231 State St First Floor

    General Information

    Standard status
    Active
    Lot size
    0.12 Acres
    Property subtype
    Multi Family

    Building Details

    Year Built
    1905

    We can help!

    Listing Contact
    Adriana Castagnet

    Listing agent Adriana Castagnet

    Listing office

    Listing date Mar 24, 2026

    Source Elliman

    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 Adriana Castagnet

    HighLights

    • Convenient location: Close to downtown, major highways, and shopping centers.
    • Three large bedrooms: Offers ample space for families or roommates.
    • First‑floor apartment: Provides easy access and avoids stairs.
    • Large eat‑in kitchen: Includes a gas range and ample cabinet storage.
    • Plenty of natural light: Creates a bright and welcoming atmosphere.
    • Parking available: Offers convenient off‑street parking.

    Overview

    This bright and spacious first-floor apartment is ideally located close to downtown, major highways, and several shopping centers, offering both convenience and accessibility. The apartment features three large bedrooms, high ceilings, and plenty of natural light throughout the space. The large eat-in kitchen includes a gas range and ample cabinet storage, making it perfect for cooking and everyday living. Parking is available in the back of the property, providing easy and convenient access. Requirements include 2 months security deposit, credit check and background check.
    Location Intelligence

    Current Use by Public Records

    Yin n' Yang ... Restaurant TIM TEAM General Contractor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9010811
    Latitude
    41.3175046

    Nearby Similar for Lease

    • $750/Mo
      210 SF

      New Haven Professional Office Sublease

      Professional office space for sublease in convenient New Haven location.
      700 State Street, New Haven, CT 06511
      View Details
    • $950/Mo
      146 SF

      Premium Office Space in New Haven

      Modern office space in the heart of New Haven.
      195 Church Street, New Haven, CT 06516
      View Details
    • $1,200/Mo
      550 SF

      Office Suite in New Haven

      First floor office suite with private offices and reception area.
      291 Whitney Avenue, New Haven, CT 06511
      View Details
    • $2,100/Mo
      1,379 SF

      New Haven Commercial Space Available

      Prime commercial space for lease in New Haven, Connecticut.
      530 Whalley Avenue, New Haven, CT 06511
      View Details
    • $1,500/Mo
      1,100 SF

      New Haven Office Space Available

      Office space with immediate highway access in New Haven.
      240 Sargent Drive, New Haven, CT 06511
      View Details
    • $2,440/Mo
      7,000 SF

      New Construction Multifamily in New Haven

      New construction multifamily building with multiple units available for rent.
      12 Ferry Street, New Haven, CT 06513
      View Details
    • $3,000/Mo
      2,200 SF

      Prime Retail Space in New Haven

      2200+ sq ft retail space in Wooster Square.
      900 Grand Avenue, New Haven, CT 06511
      View Details
    • $500/Mo
      500 SF

      Historic Office Space For Lease

      Individual office spaces available in historic New Haven location.
      389 Whitney Avenue, New Haven, CT 06511
      View Details
    • $9 SF/Yr
      10,050 SF

      Banquet Facility Leasing Opportunity

      10,050 SF banquet facility suitable for various uses.
      560 Woodward Ave, New Haven, CT 06512
      View Details
    • Sponsored
      Contact for pricing

      CT, New Haven - Church St

      123 Church St, Unit 300, New Haven, CT 06510
      View Details
    • $400/Mo
      9,062 SF

      Office Space Near Yale

      Small office space available for rent near Yale University.
      59 Amity Road, New Haven, CT 06515
      View Details
    • $1,500/Mo
      1,100 SF

      Office Space Near Transportation Hubs

      Self-contained office space with immediate highway and transit access.
      240 Sargent Dr 1A, New Haven, CT 06511
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Bright, spacious three-bedroom apartment near downtown, highways, and shopping.
    Where is this multifamily property located?
    The property is located at 1231 State St First Floor New Haven, CT.
    What is the lease rate?
    The lease rate is $2,000 /Mo.
    What are key features of this property?
    This property features: Convenient location: Close to downtown, major highways, and shopping centers.; Three large bedrooms: Offers ample space for families or roommates.; First‑floor apartment: Provides easy access and avoids stairs.
    We can help!
    Listing Contact
    Adriana Castagnet
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1231 State St First Floor, New Haven, CT 06511
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!