Renovated Two-Family
New
For Sale
$423,995
140 Portsea Street, New Haven, CT 06519
Multi-Family For Sale, Units on different Floors, New Haven, CT
Property Size1,817 SF
Lot Size0.06 Acres
Price / SF$233.35
Days on Market2
Property Features for 140 Portsea Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 1
Patio and Porch features
Patio
Exterior features
Breezeway,Deck,Gutters,Patio
Basement
Full, Concrete
Elementary school
Mauro-Sheridan
High school
Wilbur Cross
Directions
Howard Ave To Carlisle St To Portsea St
Standard status
Active
Size
1,817 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
4644
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating)
Water source
Public
Amenities
new appliances
fenced front and backyard
Building Details
Year built
1900
Architectural style
Other
Listing Agency:
Derek Greene
(888) 278-5840
Listed By:
Derek Greene · License #MA9503235-RE-B
(860) 560-1006
Added: Oct 13
Last Checked: Oct 14 at 8:06PM
MLS# 24211589
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This legal two-family duplex contains 1,817 square feet on a 0.06-acre parcel. The first-floor residence has one bedroom; the upper residence spans the second and third floors and includes four bedrooms. Renovation work and new appliances are noted, along with separate gas furnaces and gas water heaters. Outdoor features include a fenced front yard and backyard, a deck, and a patio.
The property is near Yale New Haven Hospital, downtown, shopping, schools, bus lines, and major commute routes. It has RM2 zoning and is served by public water and sewer. Built in 1900.
The property is near Yale New Haven Hospital, downtown, shopping, schools, bus lines, and major commute routes. It has RM2 zoning and is served by public water and sewer. Built in 1900.
Key Highlights
- Legal two‑family property with a one‑bedroom first‑floor residence and a four‑bedroom upper residence
- 1,817 square feet on a 0.06‑acre lot
- Separate gas furnaces and gas water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,584
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,680
$611.7K
Cap Rate 7%
$436,914
$436.9K
Cap Rate 9%
$339,822
$339.8K
Market Conditions
NOI Build-Up for 1,817 SF
Gross rent
$46.9K $25.80/SF
− Vacancy
−$3.2K −$1.75/SF
EGI
$43.7K $24.05/SF
− OpEx
−$13.1K −$7.21/SF
NOI
$30.6K $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 Rate 5%
$611,680
Cap Rate 7%
$436,914
Cap Rate 9%
$339,822
Alternative Uses
Best Use
Multifamily LT 5
$436.9K
$382.3K – $509.7K
NOI $30,584 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$406.6K
$355.7K – $474.3K
NOI $28,459 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$584.5K
$511.4K – $681.9K
NOI $40,914 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
7,523
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
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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 - Each residence has its own gas furnace and gas water heater.
Where is this duplex located?
The property is located at 140 Portsea Street New Haven, CT.
What is the asking price?
The asking price for this property is $423,995.
What are key features of this property?
This property features: Legal two‑family property with a one‑bedroom first‑floor residence and a four‑bedroom upper residence; 1,817 square feet on a 0.06‑acre lot; Separate gas furnaces and gas water heaters
