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    Three-Unit Duplex Income Property Title is generated by Realmo AI

    134 Butler Street, New Haven, CT 06511

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    For Sale
    $384,999

    Residential income property with multiple bedrooms, in-unit laundry, and off-street parking.

    Type:2 Family
    Property size:
    2,671 SF
    Price / SF:
    $144/SF
    Added:
    May 26, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 5 at 2:02 am

    Property Features for 134 Butler Street

    General Information

    Standard status
    Active
    Size
    2,671 SF
    Property subtype
    2 Family

    Building Details

    Year Built
    1920

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    Listing Contact
    Jennifer D'Amato

    Listing agent Jennifer D'Amato

    Listing office Real Broker CT, LLC

    Listing date May 26, 2026

    Source Lockandkeyre

    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 Real Broker CT, LLC

    HighLights

    • 1920‑built residential income property with long‑term tenants and a strong rent roll
    • Recent improvements include the roof, windows, electrical, plumbing, siding, and mechanical systems
    • First‑floor apartment: 2 bedrooms, 1 bathroom, updated kitchen with gas stove, spacious living room
    • Second‑floor unit: 2 bedrooms and 1 bathroom, connected with the third level and includes an additional kitchenette and living area
    • Third level provides additional 2 bedrooms and 1 full bathroom with extra living area and kitchenette
    • Laundry in each unit plus off‑street parking for at least 4 cars

    Overview

    This residential income property is a duplex-style arrangement with a first floor unit featuring two bedrooms and one bathroom, along with an updated kitchen that includes a gas stove and a spacious living room. The second floor has two bedrooms and one bathroom and connects to the third level, where an additional two bedrooms, a full bathroom, and extra living area plus a kitchenette are offered. Each unit includes laundry, and off-street parking is available for at least four cars. Recent improvements are noted to the roof, windows, electrical, plumbing, siding, and mechanical systems.

    The property is offered for sale with long-term tenants in place. The listing is presented as an investment opportunity supported by a strong rent roll and the scope of recent exterior and system upgrades.

    For tenants and buyers seeking an income-producing residential setup, the configuration provides multiple bedroom and living-area options across the upper connected levels, plus an independently laid-out first-floor unit. With laundry included in each unit and off-street parking for multiple vehicles, the layout is geared toward everyday practicality while the reported building improvements help support continued operational reliability.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    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
    -72.9298861
    Latitude
    41.3337496

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    FAQs

    What type of property is this?
    Duplex - Residential income property with multiple bedrooms, in-unit laundry, and off-street parking.
    Where is this duplex located?
    The property is located at 134 Butler Street New Haven, CT.
    What is the asking price?
    The asking price for this property is $384,999.
    What are key features of this property?
    This property features: 1920‑built residential income property with long‑term tenants and a strong rent roll; Recent improvements include the roof, windows, electrical, plumbing, siding, and mechanical systems; First‑floor apartment: 2 bedrooms, 1 bathroom, updated kitchen with gas stove, spacious living room
    (203) 605-7865
    We can help!
    Listing Contact
    Jennifer D'Amato
    Learn More
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    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.

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