Two-Unit Duplex with Finished Lower
For Sale
$460,000
Pending
13 Button Street, New Haven, CT 06519
Built in 2005, the property includes matching three-bedroom, two-bath residences with gas-furnace heating.
Property Size2,596 SF
Days on Market80
Property Features for 13 Button Street
General Information
Standard status
Pending
Size
2,596 SF
Property subtype
2 Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
fenced-in property
Building Details
Year Built
2005
Listing Agency:
Coldwell Banker Realty
(203) 517-5023
Listed By:
Jennifer Lynne · License #REB.0793669
(203) 517-5023
Source:
Lockandkeyre
Added: Jun 15
Changed: Aug 31
Last Checked: Aug 30 at 5:02PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 2,596 SF duplex, completed in 2005, contains two matching residential units. Each unit offers three bedrooms and two bathrooms, creating a consistent layout across the building. Gas furnaces serve both residences, and the property is enclosed by fencing. A finished efficiency area in the lower level provides additional finished space within the property.
Located at 13 Button Street in New Haven, Connecticut 06519, the duplex is occupied by tenants with contracts in place. The two-unit configuration, matching floor plans, and existing tenancy provide a straightforward residential income property format.
Located at 13 Button Street in New Haven, Connecticut 06519, the duplex is occupied by tenants with contracts in place. The two-unit configuration, matching floor plans, and existing tenancy provide a straightforward residential income property format.
Key Highlights
- Two‑unit duplex with 2,596 SF of property size
- Two matching units, each with 3 bedrooms and 2 bathrooms
- Built in 2005
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
$40,660
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
8.84%
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%
$813,200
$813.2K
Cap Rate 7%
$580,857
$580.9K
Cap Rate 9%
$451,778
$451.8K
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
$78.8K $30.36/SF
− Vacancy
−$4.9K −$1.88/SF
EGI
$73.9K $28.48/SF
− OpEx
−$33.3K −$12.81/SF
NOI
$40.7K $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%
$813,200
Cap Rate 7%
$580,857
Cap Rate 9%
$451,778
Alternative Uses
Best Use
Multifamily LT 5
$624.2K
$546.2K – $728.3K
NOI $43,696 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$580.9K
$508.3K – $677.7K
NOI $40,660 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$835.1K
$730.7K – $974.3K
NOI $58,455 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
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 - Built in 2005, the property includes matching three-bedroom, two-bath residences with gas-furnace heating.
Where is this duplex located?
The property is located at 13 Button Street New Haven, CT.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,596 SF of property size; Two matching units, each with 3 bedrooms and 2 bathrooms; Built in 2005
