Residential Duplex with Attached
New
For Sale
$435,000
144 Forest Road, West Haven, CT 06516
Multi-Family For Sale, Units are Side-by-Side, West Haven, CT
Property Size1,824 SF
Lot Size0.13 Acres
Price / SF$238.49
Days on Market3
Property Features for 144 Forest Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Basement, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2
Basement
Partial
Lot features
Lightly Wooded, Level Lot
Elementary school
Per Board of Ed
High school
West Haven
Directions
GPS
Subdivision
Allingtown
Standard status
Active
Size
1,824 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8113
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1970
Architectural style
Other
Listing Agency:
Weichert, Realtors-On The Mark
(203) 283-1422
Listed By:
Gregorio Santiago · License #RES.0800318
(203) 668-8862
Added: Sep 30
Last Checked: Oct 2 at 6:06PM
MLS# 24210662
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 1,824-square-foot duplex contains two residences arranged side by side. Each has two bedrooms, a private entrance, an attached one-car garage, and a washer and dryer on the lower level. The property was built in 1970 and is being sold in as-is condition.
The 0.13-acre property is zoned R2 and has public water and sewer service. Heating is provided by baseboard systems, with window-unit cooling.
The 0.13-acre property is zoned R2 and has public water and sewer service. Heating is provided by baseboard systems, with window-unit cooling.
Key Highlights
- 1,824‑square‑foot duplex with two side‑by‑side residences
- Each residence has 2 bedrooms, a private entrance, and an attached 1‑car garage
- Washer and dryer located on the lower level of each residence
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
$30,701
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
7.06%
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%
$614,020
$614.0K
Cap Rate 7%
$438,586
$438.6K
Cap Rate 9%
$341,122
$341.1K
Market Conditions
NOI Build-Up for 1,824 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
$47.1K $25.80/SF
− Vacancy
−$3.2K −$1.75/SF
EGI
$43.9K $24.05/SF
− OpEx
−$13.2K −$7.21/SF
NOI
$30.7K $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%
$614,020
Cap Rate 7%
$438,586
Cap Rate 9%
$341,122
Alternative Uses
Best Use
Multifamily LT 5
$438.6K
$383.8K – $511.7K
NOI $30,701 @ 7.0% cap · market cap 7.06%
Second Best
Apartment 5plus
$408.1K
$357.1K – $476.2K
NOI $28,569 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$586.7K
$513.4K – $684.5K
NOI $41,072 @ 7.0% cap · market cap 9.44%
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
459
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 a private entrance, two bedrooms, and lower-level laundry.
Where is this duplex located?
The property is located at 144 Forest Road 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: 1,824‑square‑foot duplex with two side‑by‑side residences; Each residence has 2 bedrooms, a private entrance, and an attached 1‑car garage; Washer and dryer located on the lower level of each residence
