Duplex with Walk-Up
New
For Sale
$480,000
Pending
54 East Ave, West Haven, CT 06516
Two-unit property within walking distance of beaches, a waterfront park, dining, and the boardwalk.
Property Size2,436 SF
Days on Market2
Property Features for 54 East Ave
General Information
Standard status
Pending
Size
2,436 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Building Size
2,436 SF
Year Built
1910
Buildings
1
Listing Agency:
Real Broker CT, LLC
Listed By:
Brad Hudson
(203) 510-3827
Source:
Elliman
Added: Sep 10
Last Checked: Sep 10 at 2:40PM
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
Investment Insights
Based on property information with market context.
Built in 1910, this duplex includes two residential units and a large walk-up attic with separate access. The property has received updates in recent years, including a refreshed first-floor bathroom and new kitchen appliances. Its layout supports owner occupancy with a second unit for rental use, or leasing both units to long-term tenants.
The home is located at 54 East Ave in West Haven, within walking distance of the area’s beaches, Savin Rock Park, and the boardwalk. Nearby dining options include Riva and Stowe's, with shoreline recreation and waterfront walking routes close by. The attic may offer a path toward expanded residential use, subject to zoning, permitting, approvals, and feasibility review.
The home is located at 54 East Ave in West Haven, within walking distance of the area’s beaches, Savin Rock Park, and the boardwalk. Nearby dining options include Riva and Stowe's, with shoreline recreation and waterfront walking routes close by. The attic may offer a path toward expanded residential use, subject to zoning, permitting, approvals, and feasibility review.
Key Highlights
- Two‑family duplex at 54 East Ave, West Haven, CT 06516
- Large walk‑up attic with its own access
- Within walking distance of beaches, Savin Rock Park, and the boardwalk
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
$41,003
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
8.54%
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%
$820,060
$820.1K
Cap Rate 7%
$585,757
$585.8K
Cap Rate 9%
$455,589
$455.6K
Market Conditions
NOI Build-Up for 2,436 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
$62.8K $25.80/SF
− Vacancy
−$4.3K −$1.75/SF
EGI
$58.6K $24.05/SF
− OpEx
−$17.6K −$7.21/SF
NOI
$41.0K $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%
$820,060
Cap Rate 7%
$585,757
Cap Rate 9%
$455,589
Alternative Uses
Best Use
Multifamily LT 5
$585.8K
$512.5K – $683.4K
NOI $41,003 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$545.1K
$476.9K – $635.9K
NOI $38,154 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$783.6K
$685.7K – $914.2K
NOI $54,852 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property within walking distance of beaches, a waterfront park, dining, and the boardwalk.
Where is this duplex located?
The property is located at 54 East Ave West Haven, CT.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Two‑family duplex at 54 East Ave, West Haven, CT 06516; Large walk‑up attic with its own access; Within walking distance of beaches, Savin Rock Park, and the boardwalk
