Duplex with Finished
For Sale
$435,000
Pending
107 2nd Ave, West Haven, CT 06516
Two residential units with water views and convenient access to West Haven Beach, the University of New Haven, and transit.
Property Size2,000 SF
Days on Market125
Property Features for 107 2nd Ave
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Multi Family
Building Details
Building Size
2,000 SF
Year Built
1954
Listing Agency:
(413) 212-2458
Listed By:
Schuyler Goines · License #RES.0803087
(413) 212-2458
Source:
Elliman
Added: Apr 28
Changed: Aug 29
Last Checked: Aug 29 at 3:28PM
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 Schuyler Goines
Investment Insights
Based on property information with market context.
Located at 107 2nd Ave in West Haven, this two-unit residential property was built in 1954 and includes a finished basement. The basement adds flexible interior area for recreation, storage, a home office, or other living-space needs. Both units are described as having functional layouts and natural light, while the property also offers water views.
The home is positioned near West Haven Beach and the University of New Haven, with shopping, restaurants, major highways, and public transportation also nearby. Its two-unit configuration supports an owner-occupancy arrangement with the second residence used separately, subject to the buyer’s plans and applicable requirements. Walk Score is 78, Bike Score is 62, and Transit Score is 53.
The home is positioned near West Haven Beach and the University of New Haven, with shopping, restaurants, major highways, and public transportation also nearby. Its two-unit configuration supports an owner-occupancy arrangement with the second residence used separately, subject to the buyer’s plans and applicable requirements. Walk Score is 78, Bike Score is 62, and Transit Score is 53.
Key Highlights
- Two‑unit residential property at 107 2nd Ave, West Haven, CT 06516
- Finished basement with recreation, storage, home office, or additional living‑space potential
- Water views and proximity to West Haven Beach
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
$33,664
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
7.74%
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%
$673,280
$673.3K
Cap Rate 7%
$480,914
$480.9K
Cap Rate 9%
$374,044
$374.0K
Market Conditions
NOI Build-Up for 2,000 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
$51.6K $25.80/SF
− Vacancy
−$3.5K −$1.75/SF
EGI
$48.1K $24.05/SF
− OpEx
−$14.4K −$7.21/SF
NOI
$33.7K $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%
$673,280
Cap Rate 7%
$480,914
Cap Rate 9%
$374,044
Alternative Uses
Best Use
Multifamily LT 5
$480.9K
$420.8K – $561.1K
NOI $33,664 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$447.5K
$391.6K – $522.1K
NOI $31,325 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$643.4K
$562.9K – $750.6K
NOI $45,035 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
181
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units with water views and convenient access to West Haven Beach, the University of New Haven, and transit.
Where is this duplex located?
The property is located at 107 2nd Ave West Haven, CT.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Two‑unit residential property at 107 2nd Ave, West Haven, CT 06516; Finished basement with recreation, storage, home office, or additional living‑space potential; Water views and proximity to West Haven Beach
