Remodeled Multifamily
For Sale
$430,000
147 Lamberton St, New Haven, CT 06511
Remodeled apartment with income potential in walkable location.
Property Size2,491 SF
Days on Market144
Property Features for 147 Lamberton St
General Information
Standard status
Active
Size
2,491 SF
Property subtype
Multi Family
Building Details
Building Size
2,491 SF
Year Built
1900
Listed By:
Munzer Elliby
(203) 909-7249
Source:
Elliman
Added: Apr 15
Changed: Sep 2
Last Checked: Sep 5 at 12:41PM
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 Munzer Elliby
Investment Insights
Based on property information with market context.
This remodeled multifamily property features updated kitchens, bathrooms, and paint. Newer furnaces and new windows have been installed. The second and third floor apartment includes 4 bedrooms and 2 baths. The first floor is currently rented for $1400. The second and third floors have a potential rent of $2,200. The property includes a one-car oversized garage that could provide extra income. The third floor has an electric plus gas heat system. The property is located in a very walkable area with a walk score of 78 and a bikeable area with a bike score of 62. The transit score is 53, indicating good transit options.
Key Highlights
- Potential for rental income: First floor currently rented for $1400, with a potential rent of $2200 on the second and third floors.
- Remodeled apartment with new kitchen, baths, and painting.
- Newer furnaces and new windows.
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
$39,016
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
9.07%
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%
$780,320
$780.3K
Cap Rate 7%
$557,371
$557.4K
Cap Rate 9%
$433,511
$433.5K
Market Conditions
NOI Build-Up for 2,491 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
$75.6K $30.36/SF
− Vacancy
−$4.7K −$1.88/SF
EGI
$70.9K $28.48/SF
− OpEx
−$31.9K −$12.81/SF
NOI
$39.0K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$780,320
Cap Rate 7%
$557,371
Cap Rate 9%
$433,511
Alternative Uses
Best Use
Apartment 5plus
$557.4K
$487.7K – $650.3K
NOI $39,016 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$801.3K
$701.1K – $934.9K
NOI $56,091 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Remodeled apartment with income potential in walkable location.
Where is this multifamily property located?
The property is located at 147 Lamberton St New Haven, CT.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Potential for rental income: First floor currently rented for $1400, with a potential rent of $2200 on the second and third floors.; Remodeled apartment with **new kitchen, baths, and painting.**; Newer furnaces and new windows.
